IDEAS home Printed from https://ideas.repec.org/a/gam/jmathe/v12y2024i8p1157-d1374263.html
   My bibliography  Save this article

Analyzing Primary Sector Selection for Economic Activity in Romania: An Interval-Valued Fuzzy Multi-Criteria Approach

Author

Listed:
  • Alina Elena Ionașcu

    (Department of Finance and Accounting, Faculty of Economic Sciences, Ovidius University of Constanta, 900001 Constanța, Romania)

  • Shankha Shubhra Goswami

    (Abacus Institute of Engineering and Management, West Bengal 712148, India)

  • Alexandra Dănilă

    (Department of Finance and Accounting, Faculty of Economic Sciences, Ovidius University of Constanta, 900001 Constanța, Romania)

  • Maria-Gabriela Horga

    (UNESCO Department, The Faculty of Business Administration in Foreign Languages (FABIZ), Bucharest University of Economic Studies, 010374 Bucharest, Romania)

  • Corina Aurora Barbu

    (Department of Business Administration, Faculty of Economic Studies, Ovidius University of Constanta, 900001 Constanța, Romania)

  • Adrian Şerban-Comǎnescu

    (Department of Business Administration, Faculty of Economic Studies, Ovidius University of Constanta, 900001 Constanța, Romania)

Abstract

This study presents an in-depth analysis of the selection process for primary sectors impacting the economic activity in Romania, employing an interval-valued fuzzy (IVF) approach combined with multi-criteria decision-making (MCDM) methodologies. This research aims to identify eight key criteria influencing the selection of Romanian primary sectors, including technology adaptation, infrastructure development and investment, gross domestic product (GDP), sustainability, employment generation, market demand, risk management and government policies. The current analysis evaluates eight primary sector performances against these eight criteria through the application of three MCDM methods, namely, Simple Additive Weighting (SAW), Weighted Product Model (WPM), and Weighted Aggregated Sum Product Assessment (WASPAS). Ten economic experts comprising a committee have been invited to provide their views on the criteria’s importance and the alternatives’ performance. Based on the decision-maker’s qualitative judgement, GDP acquires the highest weightage, followed by environmental impact and sustainability, thus indicating the most critical factors among the group. The IVF-MCDM hybrid model indicates the energy sector as Romanian primary sector with the most potential, followed by the agriculture and forestry sector among the list of eight alternatives. It also explores the robustness of results by considering sensitivity analysis and the potential impacts of political and international factors, such as pandemics or armed conflicts, on sector selection. The findings indicate consistency in sector rankings across the different methodologies employed, underscoring the importance of methodological choice and criteria weighting. Additionally, this study sheds light on the potential influence of political and international dynamics on sector prioritization, emphasizing the need for comprehensive decision-making frameworks in economic planning processes.

Suggested Citation

  • Alina Elena Ionașcu & Shankha Shubhra Goswami & Alexandra Dănilă & Maria-Gabriela Horga & Corina Aurora Barbu & Adrian Şerban-Comǎnescu, 2024. "Analyzing Primary Sector Selection for Economic Activity in Romania: An Interval-Valued Fuzzy Multi-Criteria Approach," Mathematics, MDPI, vol. 12(8), pages 1-38, April.
    • Handle: RePEc:gam:jmathe:v:12:y:2024:i:8:p:1157-:d:1374263
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2227-7390/12/8/1157/pdf
    Download Restriction: no
    File URL: https://www.mdpi.com/2227-7390/12/8/1157/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Ghazi M. Magableh, 2023. "Evaluating Wheat Suppliers Using Fuzzy MCDM Technique," Sustainability, MDPI, vol. 15(13), pages 1-23, July.
    2. Ming Xu & Chunjing Bai & Lei Shi & Adis Puška & Anđelka Štilić & Željko Stević, 2023. "Assessment of Mountain Tourism Sustainability Using Integrated Fuzzy MCDM Model," Sustainability, MDPI, vol. 15(19), pages 1-24, September.
    3. Sorin Avram & Corina Cipu & Ana-Maria Corpade & Carmen Adriana Gheorghe & Nicolae Manta & Mihaita-Iulian Niculae & Ionuţ Silviu Pascu & Róbert Eugen Szép & Steliana Rodino, 2021. "GIS-Based Multi-Criteria Analysis Method for Assessment of Lake Ecosystems Degradation—Case Study in Romania," IJERPH, MDPI, vol. 18(11), pages 1-23, May.
    4. Alin Opreana & Simona Vinerean & Diana Marieta Mihaiu & Liliana Barbu & Radu-Alexandru Șerban, 2023. "Fuzzy Analytic Network Process with Principal Component Analysis to Establish a Bank Performance Model under the Assumption of Country Risk," Mathematics, MDPI, vol. 11(14), pages 1-38, July.
    5. Rezaei, Mohsen, 2022. "Prioritization of biodiesel development policies under hybrid uncertainties: A possibilistic stochastic multi-attribute decision-making approach," Energy, Elsevier, vol. 260(C).
    6. Javed Mallick, 2021. "Municipal Solid Waste Landfill Site Selection Based on Fuzzy-AHP and Geoinformation Techniques in Asir Region Saudi Arabia," Sustainability, MDPI, vol. 13(3), pages 1-29, February.
    7. Lucian Liviu ALBU & Luminița CHIVU & Ada Cristina MARINESCU, 2023. "Medium and Long Term Convergence in EU," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 5-16, October.
    8. Salih BARIŞIK & Kubilay ERGEN, 2023. "Heterogenous Effects of the Determinants of Pro-market Reforms: Panel Quantile Estimation for OECD Countries," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(2), pages 36-51, June.
    9. Chao Ma & Hongying Li & Sardar Fawad Saleem & Firicel Mone, 2023. "Balancing Progress and Sustainability : Industrial Innovation's Impact on Europe's Emission Management, Economic Expansion, and Financial Growth," Journal for Economic Forecasting, Institute for Economic Forecasting, vol. 0(3), pages 129-147, October.
    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. Anas A. Makki & Reda M. S. Abdulaal, 2023. "A Hybrid MCDM Approach Based on Fuzzy MEREC-G and Fuzzy RATMI," Mathematics, MDPI, vol. 11(17), pages 1-19, September.
    2. Dhafer Alqahtani & Javed Mallick & Abdulmohsen M. Alqahtani & Swapan Talukdar, 2024. "Optimizing Residential Construction Site Selection in Mountainous Regions Using Geospatial Data and eXplainable AI," Sustainability, MDPI, vol. 16(10), pages 1-26, May.
    3. Ali Utku Akar & Sukran Yalpir & Suleyman Sisman & Gamze Goktepeli & Esra Yel, 2023. "A deterministic approach in waste management: delineation of potential territories in Turkey for industrial symbiosis of olive pomace, marble wastes and plastics by integrating Fuzzy AHP to GIS," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 25(6), pages 5635-5662, June.
    4. Yuanhuan Zheng & Chunxue Yu & Huabin Zhou & Jiannan Xiao, 2021. "Spatial Variations and Influencing Factors of River Networks in River Basins of China," IJERPH, MDPI, vol. 18(22), pages 1-14, November.
    5. Anna Maria Kowalczyk & Szymon Czyża, 2022. "Optimising Photovoltaic Farm Location Using a Capabilities Matrix and GIS," Energies, MDPI, vol. 15(18), pages 1-32, September.
    6. Sorin Avram & Irina Ontel & Carmen Gheorghe & Steliana Rodino & Sanda Roșca, 2021. "Applying a Complex Integrated Method for Mapping and Assessment of the Degraded Ecosystem Hotspots from Romania," IJERPH, MDPI, vol. 18(21), pages 1-23, October.
    7. Kasım Şimşek & Selçuk Alp, 2022. "Evaluation of Landfill Site Selection by Combining Fuzzy Tools in GIS-Based Multi-Criteria Decision Analysis: A Case Study in Diyarbakır, Turkey," Sustainability, MDPI, vol. 14(16), pages 1-21, August.
    8. Zaid M. Aldhafeeri & Hatem Alhazmi, 2022. "Sustainability Assessment of Municipal Solid Waste in Riyadh, Saudi Arabia, in the Framework of Circular Economy Transition," Sustainability, MDPI, vol. 14(9), pages 1-18, April.
    9. Torkayesh, Ali Ebadi & Rajaeifar, Mohammad Ali & Rostom, Madona & Malmir, Behnam & Yazdani, Morteza & Suh, Sangwon & Heidrich, Oliver, 2022. "Integrating life cycle assessment and multi criteria decision making for sustainable waste management: Key issues and recommendations for future studies," Renewable and Sustainable Energy Reviews, Elsevier, vol. 168(C).
    10. Ivana Carević & Mikica Sibinović & Sanja Manojlović & Natalija Batoćanin & Aleksandar S. Petrović & Tanja Srejić, 2021. "Geological Approach for Landfill Site Selection: A Case Study of Vršac Municipality, Serbia," Sustainability, MDPI, vol. 13(14), pages 1-15, July.
    11. Jianghong Feng, 2022. "An integrated multi-criteria decision-making method for hazardous waste disposal site selection," Environment, Development and Sustainability: A Multidisciplinary Approach to the Theory and Practice of Sustainable Development, Springer, vol. 24(6), pages 8039-8070, June.
    12. Pasura Aungkulanon & Walailak Atthirawong & Woranat Sangmanee & Pongchanun Luangpaiboon, 2023. "Fuzzy Techniques and Adjusted Mixture Design-Based Scenario Analysis in the CLMV (Cambodia, Lao PDR, Myanmar and Vietnam) Subregion for Multi-Criteria Decision Making in the Apparel Industry," Mathematics, MDPI, vol. 11(23), pages 1-32, November.
    13. Ragab Rabeiy & Saud Almutairi & Ahmed Birima & Lamyaa Kassem & Ayman Nafady, 2023. "A Cross-Sectional Study of Knowledge, Practice, and Management of Solid Waste Segregation in Higher Educational Institutes: A Case Study in KSA," Sustainability, MDPI, vol. 15(6), pages 1-16, March.
    14. Islam Abou El-Magd & Mohamed Attwa & Mohammed El Bastawesy & Ahmed Gad & Ahmed Henaish & Sara Zamzam, 2022. "Qualitative and Quantitative Characterization of Municipal Waste in Uncontrolled Dumpsites and Landfills Using Integrated Remote Sensing, Geological and Geophysical Data: A Case Study," Sustainability, MDPI, vol. 14(8), pages 1-26, April.
    15. Ionuț-Adrian Drăguleasa & Amalia Niță & Mirela Mazilu & Gheorghe Curcan, 2023. "Spatio-Temporal Distribution and Trends of Major Agricultural Crops in Romania Using Interactive Geographic Information System Mapping," Sustainability, MDPI, vol. 15(20), pages 1-25, October.
    16. Hamid Rezaei & Elżbieta Macioszek & Parisa Derakhshesh & Hassan Houshyar & Elias Ghabouli & Amir Reza Bakhshi Lomer & Ronak Ghanbari & Abdulsalam Esmailzadeh, 2023. "A Spatial Decision Support System for Modeling Urban Resilience to Natural Hazards," Sustainability, MDPI, vol. 15(11), pages 1-18, May.

    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:gam:jmathe:v:12:y:2024:i:8:p:1157-:d:1374263. 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: MDPI Indexing Manager (email available below). General contact details of provider: https://www.mdpi.com .

    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.