A New Multi-Attribute Decision-Making Framework for Policy-Makers by Using Interval-Valued Triangular Fuzzy Numbers

• Published in: Informatica (Vilnius, Lithuania) Vol. 32; no. 3; pp. 583 - 618
• Main Authors: Mohammadian, Ayoub, Heidary Dahooie, Jalil, Qorbani, Ali Reza, Zavadskas, Edmundas Kazimieras, Turskis, Zenonas
• Format: Journal Article
• Language: English
• Published: London, England SAGE Publications 01.01.2021; IOS Press BV
• Subjects: Agriculture; Decision making; Delphi method; Innovations; New technology; Risk; Sustainable development; sustainable development; IoT challenges; MCDM; Internet of Things; IVTFN ARAS; IVTFN SWARA
• ISSN: 0868-4952; 1822-8844
• DOI: 10.15388/21-INFOR448

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.