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Multiobjective multistage decision-making problems are addressed in the light of multiobjective multistage optimization problems for finite-dimensional deterministic systems. Because of the structure of these problems, the concept of a stage tradeoff (a dynamic multiobjective tradeoff) is introduced. The stage tradeoff concept generalizes the usual tradeoff concept used in static multiobjective optimization problems and leads to the notion of impact analysis. The theoretical basis for a newly developed method, the multiobjective multistage impact analysis method, (MMIAM), is presented.