A Pareto approach to resolve the conflict between information gain and experimental costs: Multiple-criteria design of carbon labeling experiments
Fig 1
Schematic diagram of information-economic experimental design.
The task is to determine trade-off designs that constitute the Pareto front (blue cycles, dashed blue line) in the objective space. The Pareto front trades-off information-rich, economic designs from sub-optimal, dominated solutions (orange squares, gray area). All solutions located on the Pareto front are considered to be equally good solutions of the MO-ED task.