Policy optimization by lexicographic preference ordering

A lexicographic preference ordering of policy objectives is used to define the policymaker's choice among alternatives. It is shown how the constrained multiple goal problem can be placed in a one-to-one relationship with multidimensional utility analysis. The method is applied to a model of the Dutch economy and it is shown that it has good potential as a policy optimization method, its strengths being its ease of use and the quality of its results.