Suchergebnisse

The purpose of this contribution is to develop a Circular Economy Composite indicator to benchmark EU countries performance. Europe is at the forefront of the global transition towards a sustainable and circular economy. To this end, the European Commission has launched in 2015 a Circular Economy Action Plan including a monitoring framework to measure progress and to assess the effectiveness of initiatives towards the circular economy in the European Union (EU) and Member States. Still, this monitoring framework lacks a composite indicator at the national level to aggregate the circular economy dimensions into a single summary indicator. Although there is a wide range of sustainability composite indicators, no aggregate circular economy index exits to this date. We use a multi-criteria approach to construct a circular economy composite index based on TOPSIS (Technique for Order Preferences by Similarity to Ideal Solutions) methodology. In addition, we introduce a novel aggregation methodology for building a composite indicator where different levels of compensability for the distances to the ideal and anti-ideal (or negative-ideal) values of each indicator are considered. In order to illustrate the advantages of this proposal, we have applied it to evaluate the Circular Economy performance of EU Member States for the year 2016. This proposal can be a valuable tool for identifying areas in which the countries need to concentrate their efforts to boost their circular economy performance.

[EN] There is a growing interest in research on the role that space plays in defining and measuring well-being or quality of life. In this paper, we propose to evaluate the regional quality of life using the Multi-Reference Point based Weak Strong Composite Indicator approach, to further enhance the quality of the sub-national analysis. The major motivation is to facilitate assessing the regional quality of life performance at different geographical scales and compensability levels. As an example of application, we compute the composite indicators for 19 Spanish regions to paint a comprehensive picture of the regional quality of life using two different geographical scales: the Spanish and the European ones. Moreover, we provide warning signals to regional, national and European policy-makers on the quality of life dimensions in which each region needs further improvements. ; This research was partially funded by the Spanish Ministry of Economy and Competitiveness (Project PID2019-104263RB-C42), from the Regional Government of Andalucía (Project P18-RT-1566), and by the EU ERDF operative program (Project UMA18-FEDERJA-065) ; Garcia-Bernabeu, A.; Cabello, JM.; Ruiz, F. (2021). A Reference Point-Based Proposal to Build Regional Quality of Life Composite Indicators. Social Indicators Research (Online). 1-20. https://doi.org/10.1007/s11205-021-02818-0 ; S ; 1 ; 20 ; Blancas, F., Caballero, R., González, M., Lozano-Oyola, M., & Pérez, F. (2010). Goal programming synthetic indicators: An application for sustainable tourism in andalusian coastal counties. Ecological Economics, 69(11), 2158–2172. ; Boggia, A., Massei, G., Pace, E., Rocchi, L., Paolotti, L., & Attard, M. (2018). Spatial multicriteria analysis for sustainability assessment: A new model for decision making. Land Use Policy, 71, 281–292. ; Booysen, F. (2002). An overview and evaluation of composite indices of development. Social Indicators Research, 59(2), 115–151. ; Cabello, J. M., Ruiz, F., Pérez-Gladish, B., & Méndez-Rodríguez, P. (2014). ...

[EN] The evaluation of regional innovation performance through composite innovation indices can serve as a valuable tool for policy-making. While discussion on the best methodology to construct composite innovation indices continues, we are interested in deepening the use of reference levels and the aggregation issue. So far, additive aggregation methods are, largely, the most widespread aggregation rule, thus allowing for full compensability among single indicators. In this paper, we present an integrated assessment methodology to evaluate regional innovation performance using the Multi-Reference Point based Weak and Strong Composite Indicator (MRP-WSCI) approach, which allows defining reference levels and different degrees of compensability. As an example of application to the Regional Innovation Scoreboard, the proposed technique is developed to measure the innovation performance of Spain¿s regions taking into account Spanish and European reference levels. The main features of the proposed approach are: (i) absolute or relative reference levels could be previously defined by the decision maker; (ii) by establishing the reference levels, the resulting composite innovation index is an easy-to-interpret measure; and (iii) the non-compensatory strong composite indicator provides an additional layer of information for policy-making (iv) a visualization tool called Light-Diagram is proposed to track the specific strengths and weaknesses of the regions' innovation performance. ; This research has been partially supported by the Spanish Ministry of Economy and Competitiveness (Project ECO2016-76567-C4-4-R), by the Regional Government of Andalucia (research group SEJ-417), and by the ERDF funds (Project UMA18-FEDERJA-065). ; Garcia-Bernabeu, A.; Cabello, JM.; Ruiz, F. (2020). A Multi-Criteria Reference Point Based Approach for Assessing Regional Innovation Performance in Spain. Mathematics. 8(5):1-21. https://doi.org/10.3390/math8050797 ; S ; 1 ; 21 ; 8 ; 5 ; Hauser, C., Siller, M., Schatzer, T., Walde, J., & ...

ABSTRACTThis paper deals with benchmark‐based portfolio choice for buy‐and‐hold strategies of investing. Multiple benchmarks for returns are considered, which is more realistic than taking a unique benchmark – a unique aspiration difficult to select in practice among the various aspirations for returns that the investor has in mind. Portfolio selection with multiple benchmarks leads to a multi‐objective problem, which is addressed by mean value – stochastic goal programming. In particular, two benchmarks are considered, which involves two goals. Weights for goals depend on investor's preferences and Arrow's absolute risk aversion coefficients. An efficient frontier of portfolios is obtained. Advantages of this stochastic method in our context are as follows: (i) Mean value‐stochastic goal programming relies on classical utility theory under uncertainty and Arrow's absolute risk aversion, which ensures soundness and strictness, and (ii) the numerical model is easily solved by using available software such as mean–variance software. Numerical results are tabulated and discussed. Copyright © 2011 John Wiley & Sons, Ltd.

[EN] The purpose of this contribution is to develop a Circular Economy Composite indicator to benchmark EU countries performance. Europe is at the forefront of the global transition towards a sustainable and circular economy. To this end, the European Commission has launched in 2015 a Circular Economy Action Plan including a monitoring framework to measure progress and to assess the effectiveness of initiatives towards the circular economy in the European Union (EU) and Member States. Still, this monitoring framework lacks a composite indicator at the national level to aggregate the circular economy dimensions into a single summary indicator. Although there is a wide range of sustainability composite indicators, no aggregate circular economy index exits to this date. We use a multi-criteria approach to construct a circular economy composite index based on TOPSIS (Technique for Order Preferences by Similarity to Ideal Solutions) methodology. In addition, we introduce a novel aggregation methodology for building a composite indicator where different levels of compensability for the distances to the ideal and anti-ideal (or negative-ideal) values of each indicator are considered. In order to illustrate the advantages of this proposal, we have applied it to evaluate the Circular Economy performance of EU Member States for the year 2016. This proposal can be a valuable tool for identifying areas in which the countries need to concentrate their efforts to boost their circular economy performance. ; Garcia-Bernabeu, A.; Hilario Caballero, A.; Pla Santamaría, D.; Salas-Molina, F. (2020). A Process Oriented MCDM Approach to Construct a Circular Economy Composite Index. Sustainability. 12(2):1-14. https://doi.org/10.3390/su12020618 ; S ; 1 ; 14 ; 12 ; 2 ; Genovese, A., Acquaye, A. A., Figueroa, A., & Koh, S. C. L. (2017). Sustainable supply chain management and the transition towards a circular economy: Evidence and some applications. Omega, 66, 344-357. doi:10.1016/j.omega.2015.05.015 ; Di Maio, F., & Rem, P. C. ...

[EN] The problem of financing renewable energy (RE) projects has become a crucial issue for private and public decision-makers worldwide. Based on the European experience, the lack of credit makes it difficult for commercial banks to fund RE projects with traditional loans. In recent years, Project Finance has been widely used as a mechanism for funding RE projects. Project Finance decisions from lenders are made in a traditional way including quantitative financial criteria and qualitative risk assessment for non-financial criteria. In this paper, we show how the VIKOR method is applied to the selection of RE projects to be funded by commercial banks when using Project Finance. The method is combined with the AHP method for weighting the importance of the different criteria. We propose a multicriteria approach to select RE projects in which the decision maker takes into consideration financial criteria and a set of non-financial criteria regarding the technological, political-legal and socio-environmental risks of RE projects. In order to gain insight into the RE financial decision-making process, the paper makes a contribution to research in the financial field of RE investments and proposes some suggestions for managerial and practical decision making. ; Garcia-Bernabeu, A.; Mayor-Vitoria, F.; Bravo Selles, M.; Pla Santamaría, D. (2019). Financial risk management in renewable energy projects: A multicriteria approach. Journal of Management Information and Decision Sciences. 22(4):360-371. http://hdl.handle.net/10251/164156 ; S ; 360 ; 371 ; 22 ; 4

1 16 7 11 ; S ; [EN] A critical step in multiple criteria optimization is setting the preferences for all the criteria under consideration. Several methodologies have been proposed to compute the relative priority of criteria when preference relations can be expressed either by ordinal or by cardinal information. The analytic hierarchy process introduces relative priority levels and cardinal preferences. Lexicographical orders combine both ordinal and cardinal preferences and present the additional difficulty of establishing strict priority levels. To enhance the process of setting preferences, we propose a compact representation that subsumes the most common preference schemes in a single algebraic object. We use this representation to discuss the main properties of preferences within the context of multiple criteria optimization. Salas-Molina, F.; Pla Santamaría, D.; Garcia-Bernabeu, A.; Reig-Mullor, J. (2019). A Compact Representation of Preferences in Multiple Criteria Optimization Problems. Mathematics. 7(11):1-16. https://doi.org/10.3390/math7111092 Ahmadi, A., Ahmadi, M. R., & Nezhad, A. E. (2014). A Lexicographic Optimization and Augmented ϵ-constraint Technique for Short-term Environmental/Economic Combined Heat and Power Scheduling. Electric Power Components and Systems, 42(9), 945-958. doi:10.1080/15325008.2014.903542 González-Arteaga, T., Alcantud, J. C. R., & de Andrés Calle, R. (2016). A new consensus ranking approach for correlated ordinal information based on Mahalanobis distance. Information Sciences, 372, 546-564. doi:10.1016/j.ins.2016.08.071 Miettinen, K., & M�kel�, M. M. (2002). On scalarizing functions in multiobjective optimization. OR Spectrum, 24(2), 193-213. doi:10.1007/s00291-001-0092-9 Ignizio, J. P. (1983). Generalized goal programming An overview. Computers & Operations Research, 10(4), 277-289. doi:10.1016/0305-0548(83)90003-5 Sitorus, F., Cilliers, J. J., & Brito-Parada, P. R. (2019). Multi-criteria decision making for the choice problem in mining and mineral ...

360 371 22 4 ; S ; [EN] The problem of financing renewable energy (RE) projects has become a crucial issue for private and public decision-makers worldwide. Based on the European experience, the lack of credit makes it difficult for commercial banks to fund RE projects with traditional loans. In recent years, Project Finance has been widely used as a mechanism for funding RE projects. Project Finance decisions from lenders are made in a traditional way including quantitative financial criteria and qualitative risk assessment for non-financial criteria. In this paper, we show how the VIKOR method is applied to the selection of RE projects to be funded by commercial banks when using Project Finance. The method is combined with the AHP method for weighting the importance of the different criteria. We propose a multicriteria approach to select RE projects in which the decision maker takes into consideration financial criteria and a set of non-financial criteria regarding the technological, political-legal and socio-environmental risks of RE projects. In order to gain insight into the RE financial decision-making process, the paper makes a contribution to research in the financial field of RE investments and proposes some suggestions for managerial and practical decision making. Garcia-Bernabeu, A.; Mayor-Vitoria, F.; Bravo Selles, M.; Pla Santamaría, D. (2019). Financial risk management in renewable energy projects: A multicriteria approach. Journal of Management Information and Decision Sciences. 22(4):360-371. http://hdl.handle.net/10251/164156