Technological and Economic Development of Economy

Multiple criteria decision-making (MCDM) is considered as a complex decision-making (DM) tool involving both quantitative and qualitative factors. In recent years, several MCDM techniques and approaches have been suggested to choosing the optimal probable options. The purpose of this article is to systematically review the applications and methodologies of the MCDM techniques and approaches. This study reviewed a total of 393 articles published from 2000 to 2014 in more than 120 peer reviewed journals (extracted from Web of Science). According to experts’ opinion, these articles were grouped into 15 fields. Furthermore, these articles were categorised based on authors, publication date, name of journals, methods, tools, and type of research (MCDM utilising research, MCDM developing research, and MCDM proposing research). The results of this study indicated that in 2013 scholars have published articles more than in other years. In addition, the analytic hierarchy process (AHP) method in the individual tool...

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Multiple criteria decision-making techniques and their applications – a review of the literature from 2000 to 2014

The main research activities in economics during the last five years have significantly increased. The main research fields are operation research and sustainable development. The philosophy of decision making in economics is to assess and select the most preferable solution, implement it and to gain the biggest profit. Preferences are used in a lot of problem situations both in individual and organizational decision making processes. A number of effective decision making methods that support decisions under conditions of multiple criteria have appeared in the last decade. This paper presents a panorama of decision making methods in economics and summarizes the most important results and applications over the last five years. This paper considers decision making in light of the recent developments of multiple criteria decision making methods (because classical methods are overviewed in a lot of earlier publications). Authors of different approaches, pioneering studies and works are presented in s...

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Multiple criteria decision making (MCDM) methods in economics: an overview

Fuzzy best-worst method is proposed to solve the issues under fuzzy environment.A consistency ratio for fuzzy best-worst method is proposed for verification.The results indicate the fuzzy best-worst method outperforms best-worst method.The fuzzy best-worst method has a higher comparison consistency. Considering the vagueness frequently representing in decision data due to the lack of complete information and the ambiguity arising from the qualitative judgment of decision-makers, the crisp values of criteria may be inadequate to model the real-life multi-criteria decision-making (MCDM) issues. In this paper, the latest MCDM method, namely best-worst method (BWM) was extended to the fuzzy environment. The reference comparisons for the best criterion and for the worst criterion were described by linguistic terms of decision-makers, which can be expressed in triangular fuzzy numbers. Then, the graded mean integration representation (GMIR) method was employed to calculate the weights of criteria and alternatives with respect to different criteria under fuzzy environment. According to the concept of BWM, the nonlinearly constrained optimization problem was built for determining the fuzzy weights of criteria and alternatives with respect to different criteria. The fuzzy ranking scores of alternatives can be derived from the fuzzy weights of alternatives with respect to different criteria multiplied by fuzzy weights of the corresponding criteria, and then the crisp ranking score of alternatives can be calculated by employing GMIR method for optimal alternative selection. Meanwhile, the consistency ratio was proposed for fuzzy BWM to check the reliability of fuzzy preference comparisons. Three case studies were performed to illustrate the effectiveness and feasibility of the proposed fuzzy BWM. The results indicate the proposed fuzzy BWM can not only obtain reasonable preference ranking for alternatives but also has higher comparison consistency than the BWM.

Fuzzy best-worst multi-criteria decision-making method and its applications

In this paper, a new multi-criteria problem solving method—the Full Consistency Method (FUCOM)—is proposed. The model implies the definition of two groups of constraints that need to satisfy the optimal values of weight coefficients. The first group of constraints is the condition that the relations of the weight coefficients of criteria should be equal to the comparative priorities of the criteria. The second group of constraints is defined on the basis of the conditions of mathematical transitivity. After defining the constraints and solving the model, in addition to optimal weight values, a deviation from full consistency (DFC) is obtained. The degree of DFC is the deviation value of the obtained weight coefficients from the estimated comparative priorities of the criteria. In addition, DFC is also the reliability confirmation of the obtained weights of criteria. In order to illustrate the proposed model and evaluate its performance, FUCOM was tested on several numerical examples from the literature. The model validation was performed by comparing it with the other subjective models (the Best Worst Method (BWM) and Analytic Hierarchy Process (AHP)), based on the pairwise comparisons of the criteria and the validation of the results by using DFC. The results show that FUCOM provides better results than the BWM and AHP methods, when the relation between consistency and the required number of the comparisons of the criteria are taken into consideration. The main advantages of FUCOM in relation to the existing multi-criteria decision-making (MCDM) methods are as follows: (1) a significantly smaller number of pairwise comparisons (only n − 1), (2) a consistent pairwise comparison of criteria, and (3) the calculation of the reliable values of criteria weight coefficients, which contribute to rational judgment.

https://www.mdpi.com/2073-8994/10/9/393/pdf

A New Model for Determining Weight Coefficients of Criteria in MCDM Models: Full Consistency Method (FUCOM)

The paper considers major principles of application of the multi‐attribute systems to solve legislative tasks. In order to assess dispute resolution methods from economic, social and other points of view, it is necessary to apply methods for assessing solutions according to multiple attributes. All known multi‐attribute methods cannot value the atribute weights as one weight of attribute is higher or lower significant than the other attribute. The new step‐wise weight assessment ratio analysis method (SWARA) allows including experts, lawyers or dispute parties opinion about significance ratio of the attributes in the process of rational decision determination. SWARA method could be applied in practical implementation of specialised decision support systems and alternative dispute resolution in virtual environment. Starting with principles and established approaches, a problem‐structuring methodology was developed which would condition the problem to allow a more thoughtful application of existing...

Selection of rational dispute resolution method by applying new step‐wise weight assessment ratio analysis (Swara)

Santrauka Straipsnyje, remiantis ekonominiais skaiciavimais, analizuojama tiketina statybos proceso dalyviu elgsena sprendžiant tarpusavio gincus. Naudojant optimizmo (arba skirtingo isitikinimo) ir asimetrines informacijos modelius bandoma rasti abiem ginco salims ekonomiskai naudingiausia elgesio varianta ikiteismineje ginco stadijoje bei analizuojamas teisminio bylinejimosi socialinis vertingumas.

Possibilities of clients and contractor's disputes settlement at the pretrial stage

In recent decades extremely rapid technological advances have been seen that have changed many areas of daily life and the business environment. These technological advances are leading to the increasing use of electronic communications networks and cloud technologies by individuals, businesses, and organizations to provide services, store, and manage records, especially in the electronic space. The increasing use of these links offers an unprecedented opportunity to systematically collect and use a variety of data (including personal data) for different purposes. Information and data collected and processed with the help of technology are used not only for the purposes of meeting the needs of natural and legal persons but for various other reasons too. In the context of the collection and the use of personal data, which is very widespread in business relations, ensuring the individual’s right to privacy becomes problematic, especially if the data have to be transferred to third countries outside the EU. The authors of the article provide an example of how the case of data transfer to a third party was resolved in the Lithuanian courts. It also provides insights into how data transfers to third (non-EU) countries will change according to the Standard Contractual Clauses (SCCs), which will take effect on December 27, 2022.

Privacy protection in the transmission of personal data in business – insights from lithuania

Santrauka Civilines atsakomybes draudimas priskiriamas prie rizikingiausiu draudimo rūsiu. Lietuvoje ivedus privalomaji statinio projektuotoju ir rangovu civilines atsakomybes draudima, buvo pasinaudota užsienio saliu patirtimi nustatant draudimo objekta, draudiminio ivykio kriterijus, treciuju asmenu teise tiesiogiai reikalauti atlyginti ?ala. Straipsnyje nagrinejamos Lietuvos Respublikos statybos istatymo nuostatos ir poistatyminiai teises aktai, reglamentuojantys privalomaji projektuotojo ir rangovo civilines atsakomybes draudima, analizuojamas privalomojo civilines atsakomybes draudimo objektas, skirtumai tarp privalomojo ir savanoriskojo statinio projektuotojo ir rangovo civilines atsakomybes draudimo. Apžvelgiami privalomojo civilines atsakomybes draudimo draudiminio ivykio požymiai, salygos, bandoma isskirti draudimini ivyki is kitu ivykiu.

Violeta Keršuliene

Papers

Selection of rational dispute resolution method by applying new step‐wise weight assessment ratio analysis (Swara)

Possibilities of clients and contractor's disputes settlement at the pretrial stage

Privacy protection in the transmission of personal data in business – insights from lithuania

Statinio projektuotoju ir rangovu privalomojo civilines atsakomybes draudimo teisinio reglamentavimo aspektai