scholarly journals An Evaluation Model for Property-Purchasing Plans Based on a Hybrid Multi-Criteria Decision-Making Model

Mathematics ◽  
2020 ◽  
Vol 8 (6) ◽  
pp. 860
Author(s):  
Jun-Kun Lin ◽  
Hung-Lung Lin ◽  
William Yu Chung Wang ◽  
Ching-Hui Chang ◽  
Chin-Tsai Lin
Keyword(s):  
Decision Making ◽  
Real Estate ◽  
Evaluation Model ◽  
Multiple Criteria Decision Making ◽  
Housing Quality ◽  
Negotiation Strategies ◽  
Dynamic Price ◽  
Trade Offs ◽  
Real Estate Brokers ◽  
Objective View

Purchasing a property entails making rankings, comparisons, and trade-offs among various housing characteristics. When trying to sell a house, real estate brokers take on an important role as a middle-person between the seller and buyer. Thus, this research sets up a dynamic price recommendation method for housing purchases and applies the fuzzy multiple criteria decision making (FMCDM) technique, so as to realize housing quality and evaluation. We utilize this method based on the prospect theory of the loss aversion effect, in order to aid real estate brokers’ job of coordinating between the seller and buyer. The method helps us to provide an objective view of the evaluation matrix. From the pricing strategy, the results are able to match price versus quality and improve brokers’ intermediation effects. The brokers can subsequently make recommendations regarding a suitable price, decisions on negotiation strategies to reach an agreement, and settle upon an acceptable price.

Renewable energy selection based on a new entropy and dissimilarity measure on an interval-valued neutrosophic set

2021 ◽  
pp. 1-18
Author(s):  
ShuoYan Chou ◽  
Truong ThiThuy Duong ◽  
Nguyen Xuan Thao
Keyword(s):  
Decision Making ◽  
Renewable Energy ◽  
Membership Function ◽  
Fossil Fuels ◽  
Multiple Criteria Decision Making ◽  
Clean Energy ◽  
Dissimilarity Measure ◽  
Neutrosophic Set ◽  
Trade Offs ◽  
And Performance

Energy plays a central part in economic development, yet alongside fossil fuels bring vast environmental impact. In recent years, renewable energy has gradually become a viable source for clean energy to alleviate and decouple with a negative connotation. Different types of renewable energy are not without trade-offs beyond costs and performance. Multiple-criteria decision-making (MCDM) has become one of the most prominent tools in making decisions with multiple conflicting criteria existing in many complex real-world problems. Information obtained for decision making may be ambiguous or uncertain. Neutrosophic is an extension of fuzzy set types with three membership functions: truth membership function, falsity membership function and indeterminacy membership function. It is a useful tool when dealing with uncertainty issues. Entropy measures the uncertainty of information under neutrosophic circumstances which can be used to identify the weights of criteria in MCDM model. Meanwhile, the dissimilarity measure is useful in dealing with the ranking of alternatives in term of distance. This article proposes to build a new entropy and dissimilarity measure as well as to construct a novel MCDM model based on them to improve the inclusiveness of the perspectives for decision making. In this paper, we also give out a case study of using this model through the process of a renewable energy selection scenario in Taiwan performed and assessed.

Improving the Design of Energy-Efficient Building Retrofitting

2018 ◽  
pp. 165-185
Author(s):  
Mari Aino Hukkalainen ◽  
Krzysztof Klobut ◽  
Tarja Mäkeläinen ◽  
Vanda Dimitriou ◽  
Dariusz Leszczyński
Keyword(s):  
Decision Making ◽  
Energy Efficient ◽  
Real Life ◽  
Multiple Criteria Decision Making ◽  
Energy System ◽  
Energy Performance ◽  
User Preference ◽  
Trade Offs ◽  
Practical Guidelines ◽  
Energy Simulations

Practical guidelines are presented for improved process for design and retrofitting of energy-efficient buildings, with an aim to integrate buildings better with the neighbourhood energy system, among others through energy matching. The chapter describes the role of energy simulations in an integrated building retrofitting process and how to select technologies for the retrofitting toward nearly zero energy building level. Feasibility of performing a holistic analysis of retrofitting options can be increased through the integration of BIM, well populated, and linked databases and a multi-criteria decision-making approach. Multiple-criteria decision-making methods aid taking into account a number of building energy performance and user-preference-related criteria and the trade-offs between the different criteria for each retrofitting option. The real-life viewpoints and benefits of utilising the developed methods and processes are discussed, especially from the Eastern European view.

An Analytical Model for Evaluating Wind Turbine Types

2014 ◽  
Vol 543-547 ◽  
pp. 333-336 ◽  
Author(s):  
Amy H.I. Lee ◽  
Meng Chan Hung ◽  
W.L. Pearn ◽  
He Yau Kang
Keyword(s):  
Decision Making ◽  
Renewable Energy ◽  
Evaluation Model ◽  
Renewable Energy Sources ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Renewable Energy Resources ◽  
Network Process ◽  
Term Energy

With worldwide developments stressing the security, economy, human well-beings and environmental costs of relying heavily on fossil and nuclear energy, the demand of safe renewable energy resources is expanding consistently and tremendously in recent years. With its safe and environmental characteristics, wind energy production has become one of the fastest growing renewable energy sources in the world. While new wind power capacity is being added in more places in various countries, the installation of wind turbines is an important process for long-term energy generation. In this study, an evaluation model, which incorporates multiple criteria decision making (MCDM) methods, including decision making trial and evaluation laboratory (DEMATEL) and fuzzy analytic network process (FANP), is developed to establish interactive relationships between criteria. Fuzzy Yager ranking method is used for deffuzification. The final ranking of the alternatives is obtained, and this can provide decision-makers for references.

scholarly journals How Should National Museums Create Competitive Advantage Following Changes in the Global Economic Environment?

2018 ◽  
Vol 10 (10) ◽  
pp. 3749 ◽  
Author(s):  
Pei-Hsuan Tsai ◽  
Chin-Tsai Lin
Keyword(s):  
Decision Making ◽  
Competitive Advantage ◽  
Evaluation Model ◽  
Management Strategies ◽  
Multiple Criteria Decision Making ◽  
Analytic Network Process ◽  
Visitor Satisfaction ◽  
Network Process ◽  
National Museums ◽  
Decision Making Model

Management strategies play an important role in enhancing the competitive advantage and sustainable development of national museums. The purpose of this study is to focus on evaluating the management strategies of national museums to reduce the gaps in visitor satisfaction that are caused by the interdependence and feedback problems of the so-called BOCR dimensions (namely, benefits, opportunity, costs, and risks) and 24 criteria. This study creates a hybrid competitive advantage multiple-criteria decision-making model for national museums by integrating the decision-making trial and evaluation laboratory-based analytic network process and modified VIKOR (VlšeKriterijumska Optimizacija I Kompromisno Resenje) techniques to solve the problems. We consider five different types of national museums to illustrate how the proposed new evaluation model enhances the competitive advantage of national museums. Our results provide national museum curators with the knowledge and understanding to create promotional and marketing strategies that reduce the gaps in dimensions and criteria to satisfy visitors’ needs and to enhance their competitive advantage.

scholarly journals COMBINING DRSA DECISION-RULES WITH FCA-BASED DANP EVALUATION FOR FINANCIAL PERFORMANCE IMPROVEMENTS

2015 ◽  
Vol 22 (5) ◽  
pp. 685-714 ◽  
Author(s):  
Kao-Yi SHEN ◽  
Gwo-Hshiung TZENG
Keyword(s):  
Decision Making ◽  
Financial Performance ◽  
Evaluation Model ◽  
Decision Rules ◽  
Multiple Criteria Decision Making ◽  
Formal Concept ◽  
Performance Improvements ◽  
Soft Computing Techniques ◽  
Network Process ◽  
Managerial Implications

This study proposes a combined method to integrate soft computing techniques and multiple criteria decision making (MCDM) methods to guide semiconductor companies to improve financial performance (FP) – based on logical reasoning. The complex and imprecise patterns of FP changes are explored by dominance-based rough set approach (DRSA) to find decision rules associated with FP changes. Companies may identify its underperformed criterion (gap) to conduct formal concept analysis (FCA) – by implication rules – to explore the source criteria regarding the underperformed gap. The source criteria are analysed by decision making trial and evaluation laboratory (DEMATEL) technique to explore the cause-effect relationship among the source criteria for guiding improvements; in the next, DEMATEL-based analytical network process (DANP) can provide the influential weights to form an evaluation model, to select or rank improvement plans. To illustrate the proposed method, the financial data of a real semiconductor company is used as an example to show the involved processes: from performance gaps identification to the selection of five assumed improvement plans. Moreover, the obtained implication rules can integrate with DEMATEL analysis to explore directional influences among the critical criteria, which may provide rich insights and managerial implications in practice.

scholarly journals Establishing Merger Feasibility Simulation Model Based on Multiple-Criteria Decision-Making Method: Case Study of Taiwan’s Property Management Industry

2021 ◽  
Vol 13 (5) ◽  
pp. 2448
Author(s):  
Li-Ming Chien ◽  
Kung-Jen Tu
Keyword(s):  
Decision Making ◽  
Utility Theory ◽  
Service Industry ◽  
Evaluation Model ◽  
Market Competition ◽  
Multiple Criteria Decision Making ◽  
Expected Utility Theory ◽  
Property Management ◽  
Analytic Hierarchy ◽  
Modified Delphi

The purpose of this study is to propose a feasible operational evaluation model for property mergers. It is expected that through the merger of enterprises, the comprehensive improvement of business management and the promotion of logistics supply resources will be effectively promoted, so that enterprises can effectively reduce operating costs and achieve maximum profits. This study uses the modified Delphi method and analytic hierarchy process method to find out the key factors of the common dilemmas in Taiwan’s property management companies, and the weight of their impact on the operation. Finally, we use the expected utility theory to develop a valuation model for whether the property is suitable for integration, and to evaluate this, the result is used as a reference indicator for merger operations. After 30 years of vigorous development in Taiwan’s property management companies, due to fierce market competition, most of the companies have reduced their profitability in the face of common dilemmas. The study found that the merger model should be accurately evaluated by the evaluation model. The sharing of logistics resources can indeed bring about the benefits of investment and marketing to the merger, and improve the profitability of the company. At the time of writing, there is no research on such a combined analysis of the property management industry in Taiwan. This research method uses multiple decision analysis theory and utility theory to develop a decision-making model that is suitable for consolidation. It can also be applied to the assessment of mergers in other fields, such as the clean service industry, real estate brokerage and other industry merger assessments. This is also the biggest contribution of this research paper.

Sign in / Sign up

Export Citation Format

Share Document