Sustainable fuel portfolio optimization: Integrated fuzzy multi-objective programming and multi-criteria decision making

Sehatpour, Mohammad-Hadi; Kazemi, Aliyeh

doi:10.1016/j.jclepro.2017.12.092

Cited by 28 publications

(15 citation statements)

References 39 publications

Supporting

Mentioning

Contrasting

Order By: Relevance

“…Future studies will focus on the applications of the proposed operators and methods from different fields, such as multi‐objective programming (Sehatpour & Kazemi, ), pattern recognition (Ramalingam, ), and other domains (Nie, Tian, Wang, Zhang, & Wang, ). Moreover, another area of future research work is to incorporate more aggregation operators (Garg ; Kaur & Garg, ).…”

Section: Discussionmentioning

confidence: 99%

Multi‐criteria group decision‐making method based on TODIM with probabilistic interval‐valued hesitant fuzzy information

Zhang

Wang

2019

Expert Systems

View full text Add to dashboard Cite

Probabilistic interval‐valued hesitant fuzzy sets (PIV‐HFSs) are suitable for aggregating information from different groups because the probabilistic information of all the groups can be included by using interval values. Moreover, decision makers (DMs) prefer to use interval values to provide evaluation information. Furthermore, the traditional multi‐criteria group decision‐making (MCGDM) approach has some limitations, such as obtaining the DMs' weights with inappropriate methods and neglecting the interactions amongst the criteria and the psychological characteristics of DMs. Motivated by these research background, the main contents of this study are as follows. First, PIV‐HFSs are proposed, and the convex combination operation is extended into PIV‐HFSs. Second, a hybrid MCGDM approach with PIV‐HFSs is suggested that is based on the maximizing deviation method, fuzzy analytic network process (FANP) and TODIM (an acronym in Portuguese for interactive and multi‐criteria decision‐making model). Third, an evaluation case of health management centres based on the service‐specific failure mode and effect analysis (FMEA) is considered. The results show that the most crucial secondary factor is frequency (0.35775) and that the most serious failure mode is the inaccurate check‐in. The results demonstrate that the proposed model can evaluate service quality effectively and that it performs better than other methods.

show abstract

Section: Discussionmentioning

confidence: 99%

Multi‐criteria group decision‐making method based on TODIM with probabilistic interval‐valued hesitant fuzzy information

Zhang

Wang

2019

Expert Systems

View full text Add to dashboard Cite

show abstract

“…Modeling the future scenarios of product portfolio is beneficial in order to develop an optimal portfolio and determine the variation in environmental impacts, cost, market, among other aspects (Sehatpour & Kazemi, 2018). Furthermore, there are several challenges for the management of large product portfolios that need to be considered, such as cost, scalability, supply change variability, among others (Zvezdov & Hack, 2016).…”

Section: Conceptual Backgroundmentioning

confidence: 99%

Sustainabilty integration in product portfolio for sustainable development: Findings from the industry

Villamil

Hallstedt

2020

Bus Strat Env

View full text Add to dashboard Cite

Many companies decide which services, products, and technologies to include in their product portfolio using evaluation criteria, which often consider cost, quality, risk, revenue, time, and market position. Incorporating sustainability in the portfolio evaluation criteria could ensure the development of sustainable solutions from the early stages of the product development process, where there is more room for innovation. The aim of this paper is to understand how sustainability can be integrated in the company portfolio development. Semi‐structured interviews were performed with experts in the field and representatives from multinational manufacturing companies with operations in Sweden. Main findings from this study include a proposed definition of a sustainability product portfolio concept and suggested portfolio evaluation criteria from an industry perspective. Future research will develop a method to guide manufacturing companies in sustainability integration and implementation in product portfolios.

show abstract

“…Table (6). The evaluation data of assets relative to financial criteria which is expressed by LZNs Table (7). The evaluation data of assets relative to ESG criteria which is expressed by LZNs…”

Section: T T T T T T T T T T mentioning

confidence: 99%

“…However, a serious challenge in the ethical investment is the conflicts between the ethical and financial objectives that might have negative impacts on financial objectives such as profitability of investment. Hence, in order to better utilize the high potential of SRI markets and more accurate investigation of the influences of ESG criteria on the portfolio management, some authors combined the ethical approaches with the investment processes and analyzed their influences over investors' decisions [4][5][6][7][8]. Therefore, to create a trade-off between ethical and financial criteria in portfolio selection problems, this study combines ESG and financial criteria with the asset allocation problem.…”

Section: Introductionmentioning

confidence: 99%

Linguistic Z-number Muirhead mean operators and their applications in ethical-financial portfolio selection

et al. 2020

View full text Add to dashboard Cite

Traditionally the performance of firms is evaluated by financial criteria, but this study presents a new qualitative comprehensive framework that incorporates the ethical criteria into the portfolio models and it is widely matched with the preferences of socially responsible investors. The increase of corporate deceptions has caused investors or fund managers consider the ethical assessments in their investment management. Therefore, it is essential to develop models that capture the ethical criteria along with the financial criteria in the investment processes. In this study, a multi-stage methodology is proposed and linguistic Z-numbers are applied to represent the evaluation information, and the Muirhead mean (MM) aggregation operators are employed to fuse the input data under linguistic Z-number environment. Hence, we firstly develop four linguistic Z-number Muirhead mean operators. Then, using the max-score rule and the score-accuracy trade-off rule, three qualitative portfolio models are proposed. These models have been aimed to maximize the financial performance of portfolio as main objective and have been distinguished by the ethical goal that the investor follows. The obtained results of numerical example validates the capability of the models for constructing more diversified portfolio based on a trade-off between financial and ethical criteria according to investors' preferences.

show abstract

Sustainable fuel portfolio optimization: Integrated fuzzy multi-objective programming and multi-criteria decision making

Cited by 28 publications

References 39 publications

Multi‐criteria group decision‐making method based on TODIM with probabilistic interval‐valued hesitant fuzzy information

Multi‐criteria group decision‐making method based on TODIM with probabilistic interval‐valued hesitant fuzzy information

Sustainabilty integration in product portfolio for sustainable development: Findings from the industry

Linguistic Z-number Muirhead mean operators and their applications in ethical-financial portfolio selection

Contact Info

Product

Resources

About