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2015 | OriginalPaper | Buchkapitel

18. An MCDA Approach for Personal Financial Planning

verfasst von : Oliver Braun, Marco Spohn

Erschienen in: Evaluation and Decision Models with Multiple Criteria

Verlag: Springer Berlin Heidelberg

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Abstract

Personal Financial Planning (PFP) is the preparation of target-oriented decisions concerning assets, incomes, and expenses. As people have different preferences for different financial goals, and the goals are flexible, PFP is a Multicriteria Decision Analysis (MCDA) problem that is often addressed by trial calculations under different scenarios. We provide an MCDA model to derive a financial plan that maximizes the value of the expenses for a decision maker with respect to height, time, and type preferences. Specifically, we show how the problem can be solved through a mixed integer programming approach where the weights for the mathematical program are determined with the help of the Analytic Hierarchy Process.

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Titel: An MCDA Approach for Personal Financial Planning
verfasst von: Oliver Braun
Marco Spohn
Verlag: Springer Berlin Heidelberg
Buch: Evaluation and Decision Models with Multiple Criteria
Print ISBN: 978-3-662-46815-9

Electronic ISBN: 978-3-662-46816-6

Copyright-Jahr: 2015
DOI: https://doi.org/10.1007/978-3-662-46816-6_18

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