MADM in the case of simultaneous equations models and economic applications

In this paper we will solve MADM (Multiple Attribute Decision Making) problems in the case of the simultaneous equations models. The p dependent variables are considered the stochastic criteria, and the alternative decisions are given by points in R-k, where k is the number of explanatory variables. The set of alternative decisions contains the points from the dataset from which we estimate the regression coefficients, but it is completed by simulation on an interval in. The senses are given by the economic interpretation of the variables Y-i, i = (l,p) over bar. We consider as economic application the GDP/capita and long term unemployment rate in terms of computer skills (C) 2014 The Authors. Published by Elsevier B.V.