Ahti Salo received the Edgeworth-Pareto Award
Ahti Salo received the Edgeworth-Pareto Award in Istanbul at the 25th Conference of the International Society on Multiple Criteria Decision Making (MCDM). Professor Salo works at the Department of Mathematics and Systems Analysis. His research is focused on developing and applying methods for solving decision problems in which many objectives, major uncertainties, limited resources, and logical constraints must be accounted for.
The Edgeworth-Pareto Award is given biennially as the highest distinction of the Society to celebrate “a researcher or practitioner of MCDM who has demonstrated a high level of creativity in developing novel areas of application of MCDM and associated methodology”. Aalto University has a very long and strong tradition in the field of MCDM. Its Emeritus Professors Jyrki Wallenius and Raimo P. Hämäläinen received this Award, Wallenius in 1994 and Hämäläinen in 2004.
Salo has also received other awards for his work. For instance, he and his collaborators Jeffrey Keisler and Alec Morton won the 2013 Publication Award of the INFORMS Decision Analysis Society for their book on portfolio decision analysis.
“Conventional methods of decision analysis help pick one good alternative from many alternatives. Our work on portfolio decision analysis extends these methods to problems in which the number of alternatives can be very high and many of them will be selected. We have successfully worked on many applications in areas such as energy, healthcare and risk management”, explains Salo.