Pareto-improving performance

One possible goal for cxjordination agreements is to generate Pareto-improving performance, i.e., no party to the agreement is worse off and at least one is strictly better off. 

The results show that the agreement between Quick and Smart results in an increase in expected profit for Quick from 0 to 40 and a decrease in expected costs for Smart from 570 to 540. Thus, in this example, both Quick and Smart improve their performance and Smarts service level from Quick increases from 80% to 100%. Such an agreement can be considered to be Pareto improving. 

When faced with only a single objective an optimal solution is one which minimises the objective given the constraints. However, when there is more than one objective to be minimised solutions may exist for which performance on one objective cannot be improved without sacrificing performance on at least one other. Such solutions are said to be Pareto optimal [4, 14] and the set of all Pareto optimal solutions is said to form the Pareto front. 

ABSTRACT This work proposes a robust optimization criterion of mechanical parameters in the design of linear Tuned Mass Dampers (TMD) located at the top of a main structural system subject to random base accelerations. The dynamic input is modelled as a stationary filtered white noise random process. The aim is to properly consider non-uniform spectral contents that happen in many real physical vibration phenomena. The main structural system is described as a single linear degree of freedom, and it is assumed that uncertainty affects the system model. The problem parameters treated are described as random uncorrelated variables known only by the estimation of their means and variances. Robustness is formulated as a multi-objective optimization problem in which both the mean and variance of a conventional objective function (OF) are minimized simultaneously. Optimal Pareto fronts are obtained and results show a significant improvement in performance stability compared to a standard conventional solution. 

In this work, a systematic study for optimal operation of SMB as well as Varicol process is presented for the separation of an optical isomers mixture. Multiobjective optimization problems were considered using NSGA. Pareto optimal curve is obtained for both SMB and Varicol systems. The optimization result has shown that significant improvement can be made. These results help in enhancing the performance of the existing set-up and also serve as an important tool in designing a new set-up. 

Nevertheless, the Pareto-optimal set were not as good as expected in these preliminary runs. In order to improve the performance of the method, we defined a tighter set of bounds for variable as explained before (for this shadow minimum, -220 220). In Fig. 8 we... 

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