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Single versus Multiple Objective(S) Decision Making: An Application to Subsistence Farms In Northern Ethiopia

Abstract: 

Single objective approach is most widely used whereas consideration of multiple objectives is the rule rather than an exception in many real life decision-making circumstances. Under such situations, the key questions include: could the single objective approach be a reasonable approximation or does the multiple objectives approach has anything to add? How does the pattern of resource allocation change when priorities attached to the different objectives/ goals change? If indeed the multiple objectives approach has something to add, then understanding the behavior of economic agents in decision making involving multiple criteria would help to sharpen our prediction. This paper, therefore, tries to investigate whether or not single and multiple criteria/objective approaches necessarily lead to differing conclusions. The study used linear and goal programming techniques on a dataset from a stratified sample of 200 farm households drawn from Tigrai regional state, Northern Ethiopia, for 2001 and 2002 production years. Findings reveal that the two approaches might not necessarily lead to differing conclusions

Corporate Author: 
Getnet Alemu (Editor) & Ethiopian Economic Association/Ethiopian Economic Policy Research Institute
Publisher: 
Ethiopian Economic Association (EEA)
ISBN/ISSN: 
978-99944-54-09-9
Primary Descriptors: 

Single versus Multiple Criteria/Objectives

Secondary Descriptor: 

Goal Programming; Subsistence Farms

Geographic Descriptors: 
Northern Ethiopia
Cataloge Date: 
02/27/2013
Broad Subject heading: 
Linear Programming
Call Number: 
330.963 PRO 2009
Serial Key Title: 
Proceedings of the Sixth International Conference on the Ethiopian Economy
Publication catagory: 
Content type: 
Volume: 
II
Publication date: 
2013-05-27 23:09:00
Forum or Discussion date: 
2013-02-27 15:02:20
Place of publication: 
Addis Ababa, Ethiopia
Type of material: 
Book
Current frequency: 
Annualy

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