Probabilistic dimension of the AHP approach to input-output analysis: A note

Banai‐Kashani, Reza

doi:10.1016/0895-7177(90)90359-u

Cited by 4 publications

(1 citation statement)

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“…A monetary evaluation of the other values is obtained through the use of one of the most widespread multicriteria techniques (Saaty, 1980(Saaty, , 1994: the analytic hierarchical process (AHP) combined with a comparative evaluation method. 4 This approach is inspired by Saaty and Vargas (1979), Steenge (1986), and Banai-Kashani (1990). Benjamin, Tan, and Razon (2015) and Aviso et al (2018) have combined input-output analysis and multicriteria techniques for other purposes.…”

Section: Introductionmentioning

confidence: 99%

The economic valuation of social aspects: A multicriteria approach based on input–output models1

Sanaú

Gómez‐Bahillo

Moreno-Jiménez

2020

Multi Criteria Decision Anal

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Decision making on the suitability of public investment projects has traditionally been based on the study of their economic feasibility. Since the end of the 1970s, this has been complemented by a more holistic vision of reality in which social and environmental aspects are explicitly considered alongside economic factors. This paper proposes a new evaluation methodology that allows for the valuation of social and environmental factors in economic terms. The methodology is based on use values (direct, indirect, and potential) and nonuse values (bequest and existence) that are usually studied for an environmental evaluation. The resulting economic value is obtained by the utilization of (a) input–output models to calculate the direct use value in monetary terms and (b) multicriteria techniques (especially the analytic hierarchy process) and comparative models to estimate the remaining use (indirect and potential) and nonuse values (bequest and existence). The methodology is applied to a real‐life problem in Aragon.

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