Cost-benefit analysis of shale development in India: A best-worst method based MCDM approach

Ghaffar, Abdul Razzaq Abdul; Nadeem, Md. Raghib; Hasan, Md. Gulzarul

doi:10.1016/j.jksus.2021.101591

Cited by 8 publications

(9 citation statements)

References 29 publications

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“…However, it is seen that the best-worst method is used in many different areas apart from determining the bank performance. For example, Ghaffar et al (2021) Luo et al (2020) used ANP and TOPSIS methods in their study on the selection of a waste-toenergy plant and determined the criteria weights by the best-worst method. Liu et al (2021) determined the criteria weights according to the best-worst method in their study where they conducted environmental performance evaluation using the AHP method.…”

Section: Literaturementioning

confidence: 99%

Long-Term Performance Evaluation of Deposit Banks With Multi-Criteria Decision Making Tools: The Case of Turkey

Özçalıcı

Kaya²,

Gürler

2021

Pamukkale University Journal of Social Sciences Institute

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In this study, it is aimed to measure the long term performance of deposit banks operating in Turkey with an integrated MCDM framework. The effect of stock market indicators is also considered when evaluating the performance of deposit banks. The arithmetic average of the selected ratios between 2014 and 2018 is calculated to obtain long term performance indicators. The weights of the criteria are set with the Best-Worst Method. Five different MCDM tools, namely ARAS, EDAS, MOORA, OCRA and TOPSIS, are used to evaluate the long-term performance of banks. The financial ratio, which has the highest importance, is liquid asset / total assets ratio, according to the expert evaluations. The average return on assets and shareholders' equity/total assets ratio is determined as highly correlated criteria with the final score.

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Section: Literaturementioning

confidence: 99%

Long-Term Performance Evaluation of Deposit Banks With Multi-Criteria Decision Making Tools: The Case of Turkey

Özçalıcı

Kaya²,

Gürler

2021

Pamukkale University Journal of Social Sciences Institute

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“…Many applications can be found in the literature. Recently, Naeem et al [5] prioritized strategies for handling the COVID-19 outbreak, Ahmad and Hasan [20] reported the applicability of BWM in the study of wireless networks, Ghaffar et al [21] performed an Identification and analysis of shale development in India, Singh et al [22] evalulated and ranked of Six Sigma enablers, and Xu et al [23] applied BWM in water rights allocation. Sen et al [24] developed a framework for a housing infrastructure system considering flood resilience.…”

Section: Introductionmentioning

confidence: 99%

A Group Decision-Making Approach in MCDM: An Application of the Multichoice Best–Worst Method

2023

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Multicriteria decision-making (MCDM) techniques have successfully been used to address a wide range of real-world decision-making issues. The best–worst method (BWM) is one of the several deterministic MCDM approaches. A recently proposed method called the multichoice best–worst method (MCBWM) takes into account several linguistic terms for pairwise comparisons of relative preferences among the criteria. It has been shown that the MCBWM approach has advantages over BWM: it reduces the calculation and determines optimal weight values by providing the choices for the optimal solution. This paper proposes a unique method for group decision-making based on MCBWM. We extended the MCBWM to solve group decision-making problems. A novel solution approach was developed and validated for multiple problems. Two examples and one case study were solved using the proposed approach to demonstrate the validity and application of the proposed method. The results were further compared with existing models to validate the proposed approach. We found that the obtained ranking order for all problems is the same and that the proposed model has a higher consistency ratio than the existing approaches. This method can be extended to other mathematical programming models for collective decision making in uncertain situations.

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“…Moreover, the selection of primary sectors involves complex decision-making processes that consider various economic, social, environmental, and political factors. By employing an IVF-MCDM approach, this research aims to provide a structured framework for analyzing and prioritizing primary sectors effectively [11]. Therefore, the motivation behind this research is to provide actionable insights and decision support tools that can inform strategic interventions aimed at strengthening Romania's primary sector activities, driving economic growth, and promoting sustainable development.…”

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confidence: 99%

“…Many primary sector industries in Romania lag behind in terms of technology adoption and innovation [10,11]. Outdated equipment, inadequate infrastructure, and limited investment in research and development (R&D) hamper productivity and competitiveness, making it challenging to compete in global markets.…”

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confidence: 99%

“…Export earnings from primary sector commodities contribute to the country's trade balance and foreign exchange reserves, supporting economic stability and growth. • The primary sector is closely linked to rural development in Romania, where many agricultural and forestry activities take place [11]. Investment in primary sector infrastructure, agricultural extension services, and rural development programs can stimulate economic growth, improve living standards, and reduce regional disparities.…”

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confidence: 99%

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Analyzing Primary Sector Selection for Economic Activity in Romania: An Interval-Valued Fuzzy Multi-Criteria Approach

Ionașcu,

Goswami,

Dănilă

et al. 2024

Mathematics

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This study presents an in-depth analysis of the selection process for primary sectors impacting the economic activity in Romania, employing an interval-valued fuzzy (IVF) approach combined with multi-criteria decision-making (MCDM) methodologies. This research aims to identify eight key criteria influencing the selection of Romanian primary sectors, including technology adaptation, infrastructure development and investment, gross domestic product (GDP), sustainability, employment generation, market demand, risk management and government policies. The current analysis evaluates eight primary sector performances against these eight criteria through the application of three MCDM methods, namely, Simple Additive Weighting (SAW), Weighted Product Model (WPM), and Weighted Aggregated Sum Product Assessment (WASPAS). Ten economic experts comprising a committee have been invited to provide their views on the criteria’s importance and the alternatives’ performance. Based on the decision-maker’s qualitative judgement, GDP acquires the highest weightage, followed by environmental impact and sustainability, thus indicating the most critical factors among the group. The IVF-MCDM hybrid model indicates the energy sector as Romanian primary sector with the most potential, followed by the agriculture and forestry sector among the list of eight alternatives. It also explores the robustness of results by considering sensitivity analysis and the potential impacts of political and international factors, such as pandemics or armed conflicts, on sector selection. The findings indicate consistency in sector rankings across the different methodologies employed, underscoring the importance of methodological choice and criteria weighting. Additionally, this study sheds light on the potential influence of political and international dynamics on sector prioritization, emphasizing the need for comprehensive decision-making frameworks in economic planning processes.

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Cost-benefit analysis of shale development in India: A best-worst method based MCDM approach

Cited by 8 publications

References 29 publications

Long-Term Performance Evaluation of Deposit Banks With Multi-Criteria Decision Making Tools: The Case of Turkey

Long-Term Performance Evaluation of Deposit Banks With Multi-Criteria Decision Making Tools: The Case of Turkey

A Group Decision-Making Approach in MCDM: An Application of the Multichoice Best–Worst Method

Analyzing Primary Sector Selection for Economic Activity in Romania: An Interval-Valued Fuzzy Multi-Criteria Approach

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