Environmental Policy Selection Based on Linear-Times-Exponential One-Switch Utility Function and ELECTRE I Method
Year: 2025
Type: article
Abstract: This paper examines how utility functions perform in tackling the multicriteria decision-making problem, especially one-switch utility function. Linear-times-exponential one-switch, exponential, and linear utility functions are implemented, which transforms corresponding criteria into utilities with ELECTRE I method. The detailed formulation of the decision model is presented. A numerical example about environmental policy selection is introduced to illustrate the use of the new decision model. With different wealth levels and utility functions for a policymaker, the inconsistent outranking policies illustrate the special characteristic of linear-times-exponential one-switch utility function whose initial wealth level has a significant impact on the outranking environmental policy. This study is also the first study applying one-switch utility function in address/ing multicriteria decision-making problem.
Author: Yuanxu LI
Institution: Kyushu University
Language: English
Field: Decision Sciences
Domain: Social Sciences
Open Access status: hybrid
OpenAlex ID: W4409003806