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What is Decision Science

Chapter 3
Handbook of Research on Energy and Environmental Finance 4.0
It seeks to make plain the scientific issues and value judgments underlying these decisions, and to identify tradeoffs that might accompany any particular action or inaction.
Published in Chapter:
Financial Assessment Model for Energy Streams: Evidence From the Middle East
S. Jithender Kumar Naik (Osmania University, India) and Malek Hassanpour (Osmania University, India)
Copyright: © 2022 |Pages: 52
DOI: 10.4018/978-1-7998-8210-7.ch003
Abstract
The energy assessment in any industrial/engineering project is an important aspect of project identification in the environmental impact assessment (EIA) plan. It figures out the efficiency of projects through data envelopment analysis (DEA) in comparison with revenue, prior to the establishment of full-scale industries. This study assessed eight groups of Iranian small and medium-sized industries (ISMSI) for the energy stream/revenue. The DEA model is supported by weighing systems of Friedman test, criteria importance through intercriteria correlation (CRITIC), analytical hierarchy process (AHP), and entropy Shannon to assess the efficiency of industries. Four weighing systems of the multi-criteria decision-making (MCDM) model revealed no significant differences among findings of industrial groups, keeping in view the sensitivity analysis conducted and good reliability of Cronbach's Alpha (α = 0.858). Therefore, the application of the DEA model is highly recommended for managing energy streams in the EIA plan.
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