Introducing the Comprehensive Value Function for Sustainability Full-Spectrum Assessment

Abstract

This paper introduces the comprehensive value function, a novel framework designed to address multi-dimensional challenges in sustainability assessment within decision-making processes. Multi-criteria decision-making methods based on multi-attribute utility theory excel at integrating environmental, social, and economic factors but typically focus on positive and neutral impacts. This limitation often results in the oversight of critical negative consequences, thus restricting their effectiveness in all-encompassing sustainability evaluations. The proposed framework addresses this gap by quantifying the degree of satisfaction across a full spectrum of sustainability impacts and integrating negative outcomes essential for holistic assessments. The necessity of this model is highlighted by the shortcomings of current practices, where adverse impacts are frequently overlooked and existing frameworks fail to foresee the negative repercussions of various alternatives. By facilitating the creation of positive, negative, or piecewise functions, the CVF provides a comprehensive reflection of impacts, essential for well-informed sustainability decisions. Integrating this function into established decision-making models leads to a more balanced approach adept at navigating the intricate trade-offs inherent in sustainable development. Organised systematically, the paper presents the comprehensive value function, its application across various domains, and a concluding section synthesising the findings.