An Empirical Application of Goal Programming and AHP in Real Estate Assessment

Abstract

The Goal Programming (GP) is one of the many models which have been developed to deal with the multiple objectives decision-making problems. This model allows taking into account, simultaneously, many objectives while the decision-maker is seeking the best solution from among a set of feasible solutions. At first, the aim of this study is to compare the objectives of the decision maker based on the Analytical Hierarchy Process (AHP) and to rank the objectives according to the AHP process and once the objectives are set then apply the GP to the facility allocation in a real estate rental property.  The objective of decision maker is not only to maximize profit rather the decision maker has multiple objective to achieve. The methodology presented in this study can help the decision maker to formulate viable location strategies in the volatile and complex facility allocation environment. This is an empirical study applied to a local business developer utilizing multi objective decision analysis tools.