IDEAS home Printed from https://ideas.repec.org/a/cbu/jrnlec/y2023v5p75-83.html
   My bibliography  Save this article

Creating A Fuzzy Logic Multicriteria Analysis Model For Prioritizing Public Investments Using Total Investment Cost, Time Savings And Economic Net Present Value

Author

Listed:
  • GULER OVIDIU - VASILE

    (UNIVERSITY OF ORADEA, ORADEA, ROMANIA)

Abstract

An important need at the level of society is represented by the desire to efficiently allocate public funds, taking into account the great existing needs. The current allocation of municipal funds is carried out, most of the time, without clear criteria. A positive example of the allocation of public funds is represented by projects financed from European funds, because there are clear criteria for projects that are financed from non-reimbursable external sources. Fuzzy logic models have applications in fields such as control theory or artificial intelligence. At the same time, fuzzy logic has been implemented in electronic products such as cameras, washing machines, air conditioners or microwave ovens. The innovative element of this model is represented by the combination of elements of economic analysis of investment projects and elements of modern analysis using fuzzy techniques. This multicriteria analysis with fuzzy logic (MAFL) uses 3 criteria (total investment cost per kilometre, time savings per kilometer and economic net present value per kilometer) extracted from the economic analysis of 3 investment projects. The selected project is P1 (Oradea – Arad highway) according to the application of the multicriteria algorithm with fuzzy logic (MAFL) which assumes that the selected project is the one with the maximum value in the column vector related to the projects (inference).

Suggested Citation

  • Guler Ovidiu - Vasile, 2023. "Creating A Fuzzy Logic Multicriteria Analysis Model For Prioritizing Public Investments Using Total Investment Cost, Time Savings And Economic Net Present Value," Annals - Economy Series, Constantin Brancusi University, Faculty of Economics, vol. 5, pages 75-83, October.
    • Handle: RePEc:cbu:jrnlec:y:2023:v:5:p:75-83
    as

    Download full text from publisher

    File URL: https://www.utgjiu.ro/revista/ec/pdf/2023-05/09_guler.pdf
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Pellens, Maikel & Peters, Bettina & Hud, Martin & Rammer, Christian & Licht, Georg, 2018. "Public investment in R&D in reaction to economic crises: A longitudinal study for OECD countries," ZEW Discussion Papers 18-005, ZEW - Leibniz Centre for European Economic Research.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Mitze, Timo & Makkonen, Teemu, 2023. "Can large-scale RDI funding stimulate post-crisis recovery growth? Evidence for Finland during COVID-19," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    2. Isabel Busom & Jorge-Andrés Vélez-Ospina, 2021. "Subsidising innovation over the business cycle," Industry and Innovation, Taylor & Francis Journals, vol. 28(6), pages 773-803, July.
    3. Ricardo Castro-Camba & Jesús María Vielba & Purificación Covelo & Nieves Vidal & Conchi Sánchez, 2023. "Reducing costs, improving profits: A low-cost culture media for woody plants micropropagation," Journal of Forest Science, Czech Academy of Agricultural Sciences, vol. 69(9), pages 377-388.
    4. Alessandro Sterlacchini, 2017. "The intensity of business R&D in Italy: why reducing the gap with the EU is possible and worthwhile," Economia e Politica Industriale: Journal of Industrial and Business Economics, Springer;Associazione Amici di Economia e Politica Industriale, vol. 44(2), pages 245-257, June.
    5. Yuchen Lin & Daxin Dong & Jiaxin Wang, 2021. "The Negative Impact of Uncertainty on R&D Investment: International Evidence," Sustainability, MDPI, vol. 13(5), pages 1-21, March.
    6. Boldrick, Isabel, 2021. "Die Konjunkturreagibilität öffentlicher Investitionen am Beispiel der deutschen Schuldenbremse," CIW Discussion Papers 1/2021, University of Münster, Center for Interdisciplinary Economics (CIW).
    7. Bin Wang & Samia Khalid & Hamid Mahmood, 2024. "R&D Spending and Economic Policy Uncertainty in Asian Countries: an Advanced Panel Data Estimation Study," Journal of the Knowledge Economy, Springer;Portland International Center for Management of Engineering and Technology (PICMET), vol. 15(1), pages 4710-4729, March.
    8. Daniele Archibugi & Andrea Filippetti & Marion Frenz, 2018. "Investment in innovation for European recovery: a public policy priority," Management Working Papers 16, Birkbeck Department of Management, revised Feb 2021.
    9. Betarelli Junior, Admir Antonio & Faria, Weslem Rodrigues & Gonçalves Montenegro, Rosa Livia & Bahia, Domitila Santos & Gonçalves, Eduardo, 2020. "Research and development, productive structure and economic effects: Assessing the role of public financing in Brazil," Economic Modelling, Elsevier, vol. 90(C), pages 235-253.
    10. Michal Tvrdon & Tomas Verner, 2022. "Government Support of Science and the Impact of the Crisis: The Case of the EU Countries," The AMFITEATRU ECONOMIC journal, Academy of Economic Studies - Bucharest, Romania, vol. 24(Special16), pages 989-989, November.
    11. Ascensión Barajas & Elena Huergo & Lourdes Moreno, 2021. "The role of public loans in financing business R&D through the economic cycle," Economia Politica: Journal of Analytical and Institutional Economics, Springer;Fondazione Edison, vol. 38(2), pages 505-538, July.
    12. Hugo Confraria & Vitor Hugo Ferreira & Manuel Mira Godinho, 2021. "Emerging 21st Century technologies: Is Europe still falling behind?," Working Papers REM 2021/0188, ISEG - Lisbon School of Economics and Management, REM, Universidade de Lisboa.
    13. Ahmad, Manzoor, 2021. "Non-linear dynamics of innovation activities over the business cycles: Empirical evidence from OECD economies," Technology in Society, Elsevier, vol. 67(C).

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:cbu:jrnlec:y:2023:v:5:p:75-83. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Ecobici Nicolae (email available below). General contact details of provider: https://edirc.repec.org/data/fetgjro.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.