A Note on Decision Models for Insurers
This article examines the goal programming approach for simultaneous decision analysis in insurance companies. Goal programming is a unique derivative of linear programming. Goal programming is capable of dealing with decisions that involve a single goal with many sub-goals or a problem with multiple goals and multiple sub-goals. Unlike the linear programming method (which has an unidimensional objective function either maximize profits or minimize costs), the goal programming model handles multiple goals in non-homogeneous units of measure.
||A Note on Decision Models for Insurers
Journal of Risk & Insurance (1974)
Vol. 61, No. 3
||Lee, Sang M; Klock, D.