Definition:
“An Objective-Function maps future sequences of states of the world to the value they have for
specific Stakeholders, in utility terms. Objective-Functions have various inputs from which to derive
an overall utility value. The inputs can be called the dimensions of the Objective-Function.
specific Stakeholders, in utility terms. Objective-Functions have various inputs from which to derive
an overall utility value. The inputs can be called the dimensions of the Objective-Function.
Alternative Names
Concept Number: *619
English Master: Objective-Function
Synonyms, Variations & Acronyms: none
Detailing
Applying our Objective-Function (which could well be no more than a judgment) helps us identify
particular sets of states that look highly desirable to us and which we may choose to take as Goals.
Goals (also known as objectives, targets, "a Vision", and so on) are a mental device for creating and communicating plans.”
Illustrations
Illustration: none
Type
none
Examples
none
Notes
Source: Dynamic Management for an uncertain world by Matthew Leitch, 23 July 2002, Version 1.1,
http://www.matthew- leitch.supanet.com/dynamic
Keyed-Icons
none
Drawn-Icons
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Related-Concepts
none
History-of-Concept
none
This Concept entered by Soheir Ghallab.