IDEAS home Printed from https://ideas.repec.org/a/gam/jsusta/v7y2015i12p15798-16038d59844.html
   My bibliography  Save this article

Weak and Strong Compensation for the Prioritization of Public Investments: Multidimensional Analysis for Pools

Author

Listed:
  • Gianluigi De Mare

    (Department of Civil Engineering, University of Salerno, Via Giovanni Paolo II, 132, Fisciano (SA) 84084, Italy)

  • Maria Fiorella Granata

    (Department of Architecture, University of Palermo, Viale delle Scienze, ed, 14, Palermo 90128, Italy
    These authors contributed equally to this work.)

  • Antonio Nesticò

    (Department of Civil Engineering, University of Salerno, Via Giovanni Paolo II, 132, Fisciano (SA) 84084, Italy
    These authors contributed equally to this work.)

Abstract

Despite the economic crisis still heavily affecting most of Europe, a possible resumption can be found in the revitalization of public and private investments. These investments should be directed not only towards the strategic areas of infrastructures and production, but also to those which allow for a higher level of the quality of life (sports facilities, parks, etc. ). In such cases, the need to balance the reasons of financial sustainability with environmental and social profiles is even more evident. Thus, multicriteria techniques, supporting complex assessments, should be implemented together with a monetary feasibility study (cost-benefit analysis). Multidimensional methods allow for the aggregation of different profiles into overall indicators. This study gives an account of how the application and comparison of multi-criteria approaches based on tools characterized by a higher or lower level of compensation between criteria can broaden the spectrum of analysis of the problems and lead to a more subtle logic of funding for public works and works of public utility, with a more current and mature sharing of profitability between private investors and users of community infrastructures.

Suggested Citation

  • Gianluigi De Mare & Maria Fiorella Granata & Antonio Nesticò, 2015. "Weak and Strong Compensation for the Prioritization of Public Investments: Multidimensional Analysis for Pools," Sustainability, MDPI, vol. 7(12), pages 1-17, December.
  • Handle: RePEc:gam:jsusta:v:7:y:2015:i:12:p:15798-16038:d:59844
    as

    Download full text from publisher

    File URL: https://www.mdpi.com/2071-1050/7/12/15798/pdf
    Download Restriction: no

    File URL: https://www.mdpi.com/2071-1050/7/12/15798/
    Download Restriction: no
    ---><---

    References listed on IDEAS

    as
    1. Giuseppe Munda, 2016. "Multiple Criteria Decision Analysis and Sustainable Development," International Series in Operations Research & Management Science, in: Salvatore Greco & Matthias Ehrgott & José Rui Figueira (ed.), Multiple Criteria Decision Analysis, edition 2, chapter 0, pages 1235-1267, Springer.
    2. JosÉ Figueira & Salvatore Greco & Matthias Ehrogott, 2005. "Multiple Criteria Decision Analysis: State of the Art Surveys," International Series in Operations Research and Management Science, Springer, number 978-0-387-23081-8, September.
    3. Giuseppe Munda, 2003. "Social Multi-Criteria Evaluation (SMCE)," UHE Working papers 2003_04, Universitat Autònoma de Barcelona, Departament d'Economia i Història Econòmica, Unitat d'Història Econòmica.
    4. Giuseppe Munda, 2012. "Choosing Aggregation Rules for Composite Indicators," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 109(3), pages 337-354, December.
    5. Olson, David L., 2001. "Comparison of three multicriteria methods to predict known outcomes," European Journal of Operational Research, Elsevier, vol. 130(3), pages 576-587, May.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2019. "The Ordinal Input for Cardinal Output Approach of Non-compensatory Composite Indicators: The PROMETHEE Scoring Method," MPRA Paper 95816, University Library of Munich, Germany.
    2. Fabrizio Battisti & Maria Rosaria Guarini & Anthea Chiovitti, 2017. "The Assessment of Real Estate Initiatives to Be Included in the Socially-Responsible Funds," Sustainability, MDPI, vol. 9(6), pages 1-19, June.
    3. Antonio Nesticò & Shuquan He & Gianluigi De Mare & Renato Benintendi & Gabriella Maselli, 2018. "The ALARP Principle in the Cost-Benefit Analysis for the Acceptability of Investment Risk," Sustainability, MDPI, vol. 10(12), pages 1-22, December.
    4. Hana Ayadi & Nadia Hamani & Lyes Kermad & Mounir Benaissa, 2021. "Novel Fuzzy Composite Indicators for Locating a Logistics Platform under Sustainability Perspectives," Sustainability, MDPI, vol. 13(7), pages 1-37, April.
    5. Fortune Ganda & Khazamula Samson Milondzo, 2018. "The Impact of Carbon Emissions on Corporate Financial Performance: Evidence from the South African Firms," Sustainability, MDPI, vol. 10(7), pages 1-22, July.
    6. Luigi Dolores & Maria Macchiaroli & Gianluigi De Mare, 2017. "Sponsorship for the Sustainability of Historical-Architectural Heritage: Application of a Model’s Original Test Finalized to Maximize the Profitability of Private Investors," Sustainability, MDPI, vol. 9(10), pages 1-16, September.
    7. Paweł Ziemba, 2019. "Towards Strong Sustainability Management—A Generalized PROSA Method," Sustainability, MDPI, vol. 11(6), pages 1-29, March.
    8. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2021. "The ordinal input for cardinal output approach of non-compensatory composite indicators: the PROMETHEE scoring method," European Journal of Operational Research, Elsevier, vol. 288(1), pages 225-246.
    9. Ilaria Henke & Armando Cartenì & Luigi Di Francesco, 2020. "A Sustainable Evaluation Processes for Investments in the Transport Sector: A Combined Multi-Criteria and Cost–Benefit Analysis for a New Highway in Italy," Sustainability, MDPI, vol. 12(23), pages 1-26, November.
    10. Antonio Nesticò & Piera Somma, 2019. "Comparative Analysis of Multi-Criteria Methods for the Enhancement of Historical Buildings," Sustainability, MDPI, vol. 11(17), pages 1-19, August.
    11. Giacomo Di Ruocco & Antonio Nesticò, 2018. "Archaeological Site Conservation and Enhancement: An Economic Evaluation Model for the Selection of Investment Projects," Sustainability, MDPI, vol. 10(11), pages 1-13, October.
    12. Itziar Barinaga-Rementeria & Iker Etxano, 2020. "Weak or Strong Sustainability in Rural Land Use Planning? Assessing Two Case Studies through Multi-Criteria Analysis," Sustainability, MDPI, vol. 12(6), pages 1-18, March.
    13. Paweł Ziemba & Jarosław Wątróbski & Magdalena Zioło & Artur Karczmarczyk, 2017. "Using the PROSA Method in Offshore Wind Farm Location Problems," Energies, MDPI, vol. 10(11), pages 1-20, November.
    14. Samira El Gibari & Trinidad Gómez & Francisco Ruiz, 2019. "Building composite indicators using multicriteria methods: a review," Journal of Business Economics, Springer, vol. 89(1), pages 1-24, February.
    15. Massimiliano Bencardino & Antonio Nesticò, 2017. "Demographic Changes and Real Estate Values. A Quantitative Model for Analyzing the Urban-Rural Linkages," Sustainability, MDPI, vol. 9(4), pages 1-14, March.
    16. GULER Ovidiu–Vasile, 2020. "Comparative Analysis Of Investments Made In Romania From European Funds Between 2007 - 2013 And 2014 €“ 2020," Annals of Faculty of Economics, University of Oradea, Faculty of Economics, vol. 1(1), pages 209-218, July.

    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. Giuseppe Munda, 2012. "Intensity of preference and related uncertainty in non-compensatory aggregation rules," Theory and Decision, Springer, vol. 73(4), pages 649-669, October.
    2. Giuseppe Munda, 2014. "On the Use of Shadow Prices for Sustainable Well-Being Measurement," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 118(2), pages 911-918, September.
    3. Gamboa, Gonzalo & Munda, Giuseppe, 2007. "The problem of windfarm location: A social multi-criteria evaluation framework," Energy Policy, Elsevier, vol. 35(3), pages 1564-1583, March.
    4. Munda, Giuseppe, 2009. "A conflict analysis approach for illuminating distributional issues in sustainability policy," European Journal of Operational Research, Elsevier, vol. 194(1), pages 307-322, April.
    5. Eneko Garmendia & Gonzalo Gamboa, 2012. "Weighting social preferences in participatory multi-criteria evaluations: a case study on sustainable natural resource management," Working Papers 2012-06, BC3.
    6. Paneque Salgado, P. & Corral Quintana, S. & Guimarães Pereira, Â. & del Moral Ituarte, L. & Pedregal Mateos, B., 2009. "Participative multi-criteria analysis for the evaluation of water governance alternatives. A case in the Costa del Sol (Málaga)," Ecological Economics, Elsevier, vol. 68(4), pages 990-1005, February.
    7. Khatab Alqararah, 2023. "Assessing the robustness of composite indicators: the case of the Global Innovation Index," Journal of Innovation and Entrepreneurship, Springer, vol. 12(1), pages 1-22, December.
    8. Bottero, M. & Ferretti, V. & Figueira, J.R. & Greco, S. & Roy, B., 2015. "Dealing with a multiple criteria environmental problem with interaction effects between criteria through an extension of the Electre III method," European Journal of Operational Research, Elsevier, vol. 245(3), pages 837-850.
    9. De Brucker, Klaas & Macharis, Cathy & Verbeke, Alain, 2013. "Multi-criteria analysis and the resolution of sustainable development dilemmas: A stakeholder management approach," European Journal of Operational Research, Elsevier, vol. 224(1), pages 122-131.
    10. Zsuzsanna Katalin Szabo & Zsombor Szádoczki & Sándor Bozóki & Gabriela C. Stănciulescu & Dalma Szabo, 2021. "An Analytic Hierarchy Process Approach for Prioritisation of Strategic Objectives of Sustainable Development," Sustainability, MDPI, vol. 13(4), pages 1-26, February.
    11. Henriques, C. Oliveira & Antunes, C. Henggeler, 2012. "Interactions of economic growth, energy consumption and the environment in the context of the crisis – A study with uncertain data," Energy, Elsevier, vol. 48(1), pages 415-422.
    12. Greco, Salvatore & Ishizaka, Alessio & Tasiou, Menelaos & Torrisi, Gianpiero, 2019. "Sigma-Mu efficiency analysis: A methodology for evaluating units through composite indicators," European Journal of Operational Research, Elsevier, vol. 278(3), pages 942-960.
    13. Francis Marleau Donais & Irène Abi-Zeid & E. Owen D. Waygood & Roxane Lavoie, 2019. "A review of cost–benefit analysis and multicriteria decision analysis from the perspective of sustainable transport in project evaluation," EURO Journal on Decision Processes, Springer;EURO - The Association of European Operational Research Societies, vol. 7(3), pages 327-358, November.
    14. Etxano, Iker & Villalba-Eguiluz, Unai, 2021. "Twenty-five years of social multi-criteria evaluation (SMCE) in the search for sustainability: Analysis of case studies," Ecological Economics, Elsevier, vol. 188(C).
    15. Paola Annoni & Manuela Scioni, 2022. "The Unbalance Penalisation Method for Metrics of Social Progress," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 162(3), pages 1093-1115, August.
    16. Yongjun Shen & Elke Hermans & Tom Brijs & Geert Wets, 2013. "Data Envelopment Analysis for Composite Indicators: A Multiple Layer Model," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 114(2), pages 739-756, November.
    17. Iker Etxano & Itziar Barinaga-Rementeria & Oihana Garcia, 2018. "Conflicting Values in Rural Planning: A Multifunctionality Approach through Social Multi-Criteria Evaluation," Sustainability, MDPI, vol. 10(5), pages 1-29, May.
    18. P. Zhou & B. Ang, 2009. "Comparing MCDA Aggregation Methods in Constructing Composite Indicators Using the Shannon-Spearman Measure," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 94(1), pages 83-96, October.
    19. Javier Rodrigo-Ilarri & Claudia P. Romero & María-Elena Rodrigo-Clavero, 2020. "Land Use/Land Cover Assessment over Time Using a New Weighted Environmental Index (WEI) Based on an Object-Oriented Model and GIS Data," Sustainability, MDPI, vol. 12(24), pages 1-22, December.
    20. Shmelev, Stanislav E., 2011. "Dynamic sustainability assessment: The case of Russia in the period of transition (1985-2008)," Ecological Economics, Elsevier, vol. 70(11), pages 2039-2049, September.

    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:jsusta:v:7:y:2015:i:12:p:15798-16038:d:59844. 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.