This paper presents a zero-one goal programming model for capital budgeting in a property and liability insurance company. The model structure allows for the inclusion of multiple goals, indivisible projects and a multiple period planning horizon. The model offers an advantage of being closer to reality than many previous models and, at the same time, is easy for decision makers to understand and use. Model solutions and sensitivity analyses are presented.
All Science Journal Classification (ASJC) codes
- Computer Science(all)
- Modeling and Simulation
- Management Science and Operations Research