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      Inequity averse optimization in operational research

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      Author
      Karsu, Ö.
      Morton, A.
      Date
      2015
      Source Title
      European Journal of Operational Research
      Print ISSN
      0377-2217
      Electronic ISSN
      1872-6860
      Publisher
      Elsevier
      Volume
      245
      Issue
      2
      Pages
      343 - 359
      Language
      English
      Type
      Article
      Item Usage Stats
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      Abstract
      There are many applications across a broad range of business problem domains in which equity is a concern and many well-known operational research (OR) problems such as knapsack, scheduling or assignment problems have been considered from an equity perspective. This shows that equity is both a technically interesting concept and a substantial practical concern. In this paper we review the operational research literature on inequity averse optimization. We focus on the cases where there is a tradeoff between efficiency and equity. We discuss two equity related concerns, namely equitability and balance. Equitability concerns are distinguished from balance concerns depending on whether an underlying anonymity assumption holds. From a modeling point of view, we classify three main approaches to handle equitability concerns: the first approach is based on a Rawlsian principle. The second approach uses an explicit inequality index in the mathematical model. The third approach uses equitable aggregation functions that can represent the DM's preferences, which take into account both efficiency and equity concerns. We also discuss the two main approaches to handle balance: the first approach is based on imbalance indicators, which measure deviation from a reference balanced solution. The second approach is based on scaling the distributions such that balance concerns turn into equitability concerns in the resulting distributions and then one of the approaches to handle equitability concerns can be applied. We briefly describe these approaches and provide a discussion of their advantages and disadvantages. We discuss future research directions focussing on decision support and robustness.
      Keywords
      Equitable efficiency
      Fairness
      Inequity
      Multicriteria decision making
      Optimization
      Combinatorial optimization
      Decision making
      Decision support systems
      Scheduling
      Aggregation functions
      Assignment problems
      Business problems
      Future research directions
      Multi criteria decision making
      Operational research
      Efficiency
      Permalink
      http://hdl.handle.net/11693/22758
      Published Version (Please cite this version)
      http://dx.doi.org/10.1016/j.ejor.2015.02.035
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