Financial planning with fractional goals

When solving financial planning problems with multiple goals by means of multiple objective programming, the presence of fractional goals leads to technical difficulties. In this paper we present a straightforward interactive approach for solving such linear fractional programs with multiple goal variables. The approach is illustrated by means of an example in financial planning.

[1]  J. A. Miles,et al.  Principles of corporate finance: Richard Brealey and Stewart Myers, (Mcgraw-Hill Book Company, New York, 1981) pp. xxii + 794 , 1982 .

[2]  H. Weingartner.  Capital Budgeting of Interrelated Projects: Survey and Synthesis , 1966 .

[3]  R. S. Laundy,et al.  Multiple Criteria Optimisation: Theory, Computation and Application , 1989 .

[4]  Peter Nijkamp,et al.  Interactive multiple goal programming , 1981 .

[5]  D. J. White,et al.  A Bibliography on the Applications of Mathematical Programming Multiple-objective Methods , 1990 .

[6]  Jaap Spronk,et al.  Multi-factor financial planning: an outline and illustration , 1989 .

[7]  Stewart C. Myers,et al.  A Programming Approach to Corporate Financial Management , 1974 .

[8]  Ralph E. Steuer,et al.  Goal programming with linear fractional criteria , 1981 .

[9]  Goal Programming and Multiple Objective Optimization , 2022 .

[10]  A. Charnes,et al.  Goal programming and multiple objective optimizations: Part 1 , 1977 .

[11]  Abraham Charnes,et al.  Programming with linear fractional functionals , 1962 .

[12]  Ralph E. Steuer,et al.  Multiple Objective Linear Fractional Programming , 1981 .

[13]  Joel N. Morse,et al.  Organizations: Multiple Agents with Multiple Criteria , 1981 .

[14]  B. Matarazzo,et al.  Modelling for Financial Decisions , 1991 .

[15]  S. Schaible.  Fractional programming: Applications and algorithms , 1981 .

[16]  Ronald D. Armstrong,et al.  Successive linear programming for ratio goal problems , 1987 .