Management of Attainable Tradeoffs between Conflicting Goals

Rational decision-making requires governance of attainable trade-offs between conflicting goals, uncertainties and risks, which in turn demands both novel modeling methods and appropriate modeling technology. The paper deals with recent developments in applied modeling that have been motivated by the requirements for model-based support of solving complex problems. It starts with presenting novel modeling technology and integrated methods of integrated model analysis aimed at supporting decisionmakers in diversified ways of analysis of the underlying decision problem. Then, multicriteria analysis is discussed in more detail with a focus on an extension of the reference point optimization, which supports an effective analysis of trade-offs between conflicting criteria aiming at analysis of attainable goals. Next, new approaches to coping with endogenous uncertainty and catastrophic risks are characterized, followed by a summary of issues related to transparency and public understanding.