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A Value Function for Assessing Sustainability: Application to Industrial Buildings

  • Bibiana Alarcon

    ()

    (Department of Construction Engineering, School of Civil Engineering (ETSECCPB), Technical University of Catalonia-BarcelonaTech, C/Jordi Girona 1–3, Building C1, 08034 Barcelona, Spain)

  • Antonio Aguado

    ()

    (Department of Construction Engineering, School of Civil Engineering (ETSECCPB), Technical University of Catalonia-BarcelonaTech, C/Jordi Girona 1–3, Building C1, 08034 Barcelona, Spain)

  • Resmundo Manga

    ()

    (Department of Construction Engineering, School of Civil Engineering (ETSECCPB), Technical University of Catalonia-BarcelonaTech, C/Jordi Girona 1–3, Building C1, 08034 Barcelona, Spain)

  • Alejandro Josa

    ()

    (Department of Geotechnical Engineering and Geosciences, School of Civil Engineering (ETSECCPB), Technical University of Catalonia-BarcelonaTech, C/Jordi Girona 1–3, Building D2, 08034 Barcelona, Spain
    Institute of Sustainability (IS.UPC), Technical University of Catalonia-BarcelonaTech, Campus Diagonal Nord, Building VX. Pl. Eusebi Güell, 6, 08034 Barcelona, Spain)

Registered author(s):

    Decision support tools based on multi-attribute analysis involve the use of different types of variables. These variables are aimed at providing a framework that allows preferences to be quantified. This is particularly useful in the field of sustainability, where variables with different units are involved. One widely accepted framework for standardizing different units is the value function. Studies of value function are complex and frequently have limited physical meaning. In this context, this paper emphasizes the need to define a general equation that reflects the preferences of the decision maker in a clear and easily applied way. The paper proposes a new general equation that fulfils these requirements. By modifying certain parameters, this general equation represents the most commonly used relationships (linear, convex, concave and S-shaped). The proposed equation is finally applied to four variables used in the field of industrial buildings and sustainability.

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    Article provided by MDPI, Open Access Journal in its journal Sustainability.

    Volume (Year): 3 (2010)
    Issue (Month): 1 (December)
    Pages: 35-50

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    Handle: RePEc:gam:jsusta:v:3:y:2010:i:1:p:35-50:d:10719
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    1. Cristian-Ioan Tiu & Thaleia Zariphopoulou, 2000. "On Level Curves of Value Functions in Optimization Models of Expected Utility," Mathematical Finance, Wiley Blackwell, vol. 10(2), pages 323-338.
    2. Eric Wong & George Norman & Roger Flanagan, 2000. "A fuzzy stochastic technique for project selection," Construction Management and Economics, Taylor & Francis Journals, vol. 18(4), pages 407-414.
    3. Larichev, O. I. & Olson, D. L. & Moshkovich, H. M. & Mechitov, A. J., 1995. "Numerical vs Cardinal Measurements in Multiattribute Decision Making: How Exact Is Enough?," Organizational Behavior and Human Decision Processes, Elsevier, vol. 64(1), pages 9-21, October.
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