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A New Multi-Attribute Decision-Making Framework for Policy-Makers by Using Interval-Valued Triangular Fuzzy Numbers.
- Source :
- Informatica; 2021, Vol. 32 Issue 3, p583-618, 36p
- Publication Year :
- 2021
-
Abstract
- Policy-makers are often hesitant to invest in unproven solutions because of a lack of the decision-making framework for managing innovations as a portfolio of investments that balances risk and return, especially in the field of developing new technologies. This study provides a new portfolio matrix for decision making of policy-makers to identify IoT applications in the agriculture sector for future investment based on two dimensions of sustainable development as a return and IoT challenge as a risk using a novel MADM approach. To this end, the identified applications of IoT in the agriculture sector fall into eight areas using the meta-synthesis method. The authors extracted a set of criteria from the literature. Later, the fuzzy Delphi method helped finalise it. The authors extended the SWARA method with interval-valued triangular fuzzy numbers (IVTFN SWARA) and used it to the weighting of the characteristics. Then, the alternatives were rated using the Additive Ratio Assessment (ARAS) method based on interval-valued triangular fuzzy numbers (IVTFN ARAS). Finally, decision-makers evaluated the results of ratings based on two dimensions of sustainability and IoT challenge by developing a framework for decision-making. Results of this paper show that policy-makers can manage IOT innovations in a disciplined way that balances risk and return by a portfolio approach, simultaneously the proposed framework can be used to determine and prioritise the areas of IoT application in the agriculture sector. [ABSTRACT FROM AUTHOR]
Details
- Language :
- English
- ISSN :
- 08684952
- Volume :
- 32
- Issue :
- 3
- Database :
- Complementary Index
- Journal :
- Informatica
- Publication Type :
- Academic Journal
- Accession number :
- 152821142
- Full Text :
- https://doi.org/10.15388/21-INFOR448