An integrated interval programming and input–output knowledge model for risk and resiliency management

The COVID-19 pandemic has devastated nearly every sector of the global economy. The research seeks to examine the COVID-19 pandemic’s effects on economy and its interdependencies, specifically on mining and minerals, energy, and agriculture sectors. We propose a mathematical model by combining inter...

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Published inDecision analytics journal Vol. 9; p. 100317
Main Authors Pamucar, Dragan, Sarkar, Bishal Dey, Shardeo, Vipulesh, Soni, Tarun Kumar, Dwivedi, Ashish
Format Journal Article
LanguageEnglish
Published Elsevier Inc 01.12.2023
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Abstract The COVID-19 pandemic has devastated nearly every sector of the global economy. The research seeks to examine the COVID-19 pandemic’s effects on economy and its interdependencies, specifically on mining and minerals, energy, and agriculture sectors. We propose a mathematical model by combining interval programming with input–output knowledge modeling. The input–output model illustrates how pandemic-induced perturbations in one sector spread to others. According to how susceptible they are to disturbances coming from the primary sector (e.g., mining and minerals, agriculture, or energy), a ranking of the impacted sectors can serve as an essential input for risk and resiliency management. The study also determines which sectors are anticipated to suffer significant financial losses due to the pandemic, allowing decision-makers to prioritize their investment plans in light of system-level uncertainty. We further develop four distinct scenarios and analyze the influence of the three most influential sectors on others. •Propose a mathematical model by combining interval programming and input–output knowledge modeling.•Analyze the impact of the COVID-19 pandemic on various economic sectors.•Enable decision-makers to prioritize investment planning.•Develop four distinct scenarios and analyze the influence of the three most influential sectors on others.
AbstractList The COVID-19 pandemic has devastated nearly every sector of the global economy. The research seeks to examine the COVID-19 pandemic’s effects on economy and its interdependencies, specifically on mining and minerals, energy, and agriculture sectors. We propose a mathematical model by combining interval programming with input–output knowledge modeling. The input–output model illustrates how pandemic-induced perturbations in one sector spread to others. According to how susceptible they are to disturbances coming from the primary sector (e.g., mining and minerals, agriculture, or energy), a ranking of the impacted sectors can serve as an essential input for risk and resiliency management. The study also determines which sectors are anticipated to suffer significant financial losses due to the pandemic, allowing decision-makers to prioritize their investment plans in light of system-level uncertainty. We further develop four distinct scenarios and analyze the influence of the three most influential sectors on others. •Propose a mathematical model by combining interval programming and input–output knowledge modeling.•Analyze the impact of the COVID-19 pandemic on various economic sectors.•Enable decision-makers to prioritize investment planning.•Develop four distinct scenarios and analyze the influence of the three most influential sectors on others.
ArticleNumber 100317
Author Soni, Tarun Kumar
Pamucar, Dragan
Dwivedi, Ashish
Sarkar, Bishal Dey
Shardeo, Vipulesh
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  surname: Pamucar
  fullname: Pamucar, Dragan
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  organization: Department of Computer Science and Mathematics, Lebanese American University, Byblos, Lebanon
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  givenname: Bishal Dey
  surname: Sarkar
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  givenname: Vipulesh
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  givenname: Tarun Kumar
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  organization: FORE School of Management, New Delhi, India
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  givenname: Ashish
  surname: Dwivedi
  fullname: Dwivedi, Ashish
  email: Ashish0852@gmail.com
  organization: Jindal Global Business School, OP Jindal Global University, Sonipat, India
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Keywords Interval programming
Pandemic
Input–output knowledge modeling
Risk assessment
Resiliency modeling
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Snippet The COVID-19 pandemic has devastated nearly every sector of the global economy. The research seeks to examine the COVID-19 pandemic’s effects on economy and...
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SubjectTerms Input–output knowledge modeling
Interval programming
Pandemic
Resiliency modeling
Risk assessment
Title An integrated interval programming and input–output knowledge model for risk and resiliency management
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