PORTFOLIO MODELING IN MULTIPLE‐CRITERIA SITUATIONS UNDER UNCERTAINTY: REJOINDER

Abstract

Abstract Harrington and Fischer [2] discuss some of the limitations of a model presented by Muhlemann, Lockett, and Gear [8] for the portfolio selection problem in multiple‐criteria situations under uncertainty. They go on to propose integer goal programming and simulation as an alternative solution procedure. The purpose of this note is to critically examine their proposal and to contrast the two approaches. It is shown that the problem is being viewed from different decision‐making standpoints.