Welfare maximization 1970-01-01
Welfare maximization refers to an economic principle or objective that aims to achieve the highest possible level of overall welfare or well-being for individuals within a society. This concept is often used in the context of public policy, economics, and social welfare programs, where the goal is to allocate resources in a way that maximizes the utility or happiness of the population.
Zadeh's rule 1970-01-01
Zadeh's rule refers to a concept in fuzzy logic developed by Lotfi Zadeh, who is known as the father of fuzzy set theory. While Zadeh himself did not specifically codify a "Zadeh's rule," the term is often associated with a fundamental principle in fuzzy logic related to the combination of fuzzy sets and the reasoning process within this framework.
Zionts–Wallenius method 1970-01-01
The Zionts–Wallenius method is a mathematical approach used primarily in the context of decision-making, particularly in multi-criteria decision analysis (MCDA). Developed by Aaron Zionts and Delbert Wallenius, this method focuses on providing a systematic way to evaluate and rank alternatives based on multiple, possibly conflicting criteria.