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Fuzzy Information and Z-number-based Approaches to Energy Resource Selection

Author

Listed:
  • Mahammad Nuriyev

    (Khazar University, Baku, Azerbaijan, Baku, Azerbaijan.)

Abstract

In this paper, we study models for ranking renewables and a mix of energy resources in the development of long-term energy policy. Energy resource selection is a multi-criteria decision-making problem, characterized by incomplete information, uncertainties and intangibles, competitive priorities and contradictory requirements. The uniqueness of the problem and the limited relevant data necessitates the use of expert opinion as a principal source of information. All these factors contribute to subjectivity and vagueness in the decision-making process. Taking into consideration these circumstances, fuzzy information and a Z-number-based Analytic Hierarchy Process (AHP) has been used as a decision-making tool. Z number represents both the restriction and the reliability of evaluation and, due to these characteristics, it provides a better description of the uncertainty. Numerical examples and comparative analysis of fuzzy and Z-number-based models illustrate the process to solution and results.

Suggested Citation

  • Mahammad Nuriyev, 2020. "Fuzzy Information and Z-number-based Approaches to Energy Resource Selection," International Journal of Energy Economics and Policy, Econjournals, vol. 10(4), pages 392-398.
    • Handle: RePEc:eco:journ2:2020-04-49
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    References listed on IDEAS

    as
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    3. Chang, Da-Yong, 1996. "Applications of the extent analysis method on fuzzy AHP," European Journal of Operational Research, Elsevier, vol. 95(3), pages 649-655, December.
    4. Alessio Ishizaka, 2014. "Comparison of fuzzy logic, AHP, FAHP and hybrid fuzzy AHP for new supplier selection and its performance analysis," International Journal of Integrated Supply Management, Inderscience Enterprises Ltd, vol. 9(1/2), pages 1-22.
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    Cited by:

    1. Idiano D'Adamo & Massimo Gastaldi & Paolo Rosa, 2021. "Assessing Environmental and Energetic Indexes in 27 European Countries," International Journal of Energy Economics and Policy, Econjournals, vol. 11(3), pages 417-423.

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    More about this item

    Keywords

    energy resources; fuzzy information; AHP; Z-number; multi-criteria decision.;
    All these keywords.

    JEL classification:

    • Q42 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Alternative Energy Sources
    • Q48 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Energy - - - Government Policy
    • Q35 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Nonrenewable Resources and Conservation - - - Hydrocarbon Resources

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