Multi-objective Optimization

This chapter presents an introduction to multi-objective optimization. First, the basic concepts are presented, and then several solution approaches are described and exemplified through several examples. In particular, the epsilon-constraint method is presented, together with the weighting approach, as well as a multistakeholder formulation. Similarly, to obtain a fair solution, the concepts of Nash, Rawlsian, and social welfare approaches are described. A case study for the optimal distribution of vaccines under emergency constraints (pandemic conditions) is presented and discussed. Furthermore, the GAMS code is presented in this chapter.