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Model Level 3: Cost-Benefit Trade-off Optimization

The cost-benefit trade-off model is formulated to determine the design of optimal trade-off between the cost and benefit, subject to the funding available for a design and/or rehabilitation. You can customize the benefit functions and specify the maximum affordable budget. The model produces a set of non-inferior (non-dominant) solutions that represent the Pareto optimal for different cost and benefit levels.

Both model level 1 and 2 are single-objective optimization while level 3 is the multi-objective optimization. A modeler is able to select optimization model for a study. The optimization framework including both the cost and benefit functions is given in the following sections: