A goal programming approach to investment decisions: A case study of fund allocation among different shopping malls

  • Khorramshahgol R
  • Okoruwa A
  • 1


    Mendeley users who have this article in their library.
  • 11


    Citations of this article.


This study proposes a unique solution to resource allocation problems by combining goal programming (GP) with a qualitative forecasting model (e.g., the Delphi method) and a quantitative forecasting technique (e.g., the Poisson gravity model). Goal programming, an extension of Linear Programming (LP), is a management science technique for resource allocation in multiple objective environment. Initially, in the proposed model, the Delphi is used to elicit the experts' talents to derive the objectives to be considered in resource allocation. Subsequently, a forecasting technique is utilized to predict the future values for these objectives. The information obtained from these two forecasting techniques is then used to construct a GP model. To test for its practicality, the proposed model was applied to allocate funds among different retail stores in the Atlanta retailing system to maximize an investor's revenue. First the number of shopping trips taken to different retail centers in the Atlanta area were predicted and then these forecasts were treated as goals to be achieved. These forecasted goals were subsequently used to formulate a goal programming model to allocate funds for leasing retail stores in different shopping centers within the system. The Atlanta retailing system was chosen only as an example; the proposed methodology can be applied to any resource allocation problem. © 1994.

Author-supplied keywords

  • Delphi
  • Forecasting
  • Goal programming
  • Resource allocation

Get free article suggestions today

Mendeley saves you time finding and organizing research

Sign up here
Already have an account ?Sign in

Find this document


  • Reza Khorramshahgol

  • A. Ason Okoruwa

Cite this document

Choose a citation style from the tabs below

Save time finding and organizing research with Mendeley

Sign up for free