Multi-Faceted Analysis of Systematic Risk-Based Wind Energy Investment Decisions in E7 Economies Using Modified Hybrid Modeling with IT2 Fuzzy Sets

A literature review: Wind energy within the scope of MCDM methods

Renewable energy sources are vital for environmental sustainability. With the damage of fossil fuels to nature and the depletion of fossil fuels over time, energy production from clean and inexhaustible renewable energy sources has become widespread. Wind energy, one of the renewable energy sources, is a clean energy source that does not emit any harmful waste to the environment. Wind energy is a low-cost energy source that is mostly used for electricity generation. Criteria such as wind speed, turbine structure, and the characteristics of the areas where the wind turbines will be located are effective on the amount of energy to be produced. In this study, a comprehensive review of the studies using MCDM methods related to wind energy is made. In the manner of the statistical data obtained from the 97 studies examined, it has been observed that the wind energy investments of the countries and the scientific publications made in these countries do not progress linearly with each other. The fact that countries have different wind energy potentials and the difference in the countries' interest in renewable energy sources is thought to be effective in this regard. While there are articles in the literature in which studies on renewable energy sources are discussed together with MCDM methods, there is no comprehensive review study in which wind energy and MCDM methods are discussed together. According to our best knowledge, this is the first study to comprehensively evaluate wind energy studies in terms of multi-criteria decision-making methods. With this study, a framework has been presented for subsequent studies on the application of MCDM methods in wind energy.

Balanced scorecard-based cost analysis of service industry using a novel hybrid decision making approach based on golden cut-oriented bipolar and q-ROF sets

This study aims to create a strategy for reducing energy costs in hospitals to ensure the sustainability of health services. In this framework, a novel hybrid decision making approach is generated based on golden cut-oriented bipolar and q-rung orthopair fuzzy sets (q-ROFs). Firstly, balanced scorecard (BSC)-based criteria are evaluated by using multi stepwise weight assessment ratio analysis (M-SWARA) approach. Secondly, alternatives are examined with the help of technique for order preference by similarity to ideal solution (TOPSIS) technique. The novelty of this study is to find critical factors that affect the energy costs of health institutions with an original fuzzy decision-making model. This proposed model has also some superiorities by comparing with previous models in the literature. First, SWARA method is improved, and this technique is generated with the name of M-SWARA. Hence, the relationship between the criteria can be examined owing to this issue. Additionally, golden cut is taken into consideration to compute the degrees in bipolar q-ROFSs to achieve more accurate results. These two issues have an important impact on the originality of the proposed model. The findings demonstrate that consciousness level of employees has the highest weight with respect to the energy costs in hospitals. Additionally, the type of energy used also plays a significant role for this issue. Thus, renewable energy sources should be considered in meeting the energy needs of hospitals. Although the installation costs of these energy types are higher, it will be possible to significantly reduce energy costs in the long run.

HoQ-based evaluation of UHC competencies using an extension of interval-valued spherical fuzzy and hesitant 2-tuple linguistic term sets

Healthy life is recognized as one of the most fundamental human rights. However, even today, millions of people around the world are forced to choose between their basic needs and fundamental rights. Half of the world’s population does not have access to the healthcare they need. Universal Health Coverage (UHC) aims to ensure that all individuals receive the quality health services they need without incurring a financial burden, and to protect them from risk factors that threaten their health. The aim of this study is to identify the significant factors to improve UHC in the countries. For this purpose, house of quality (HoQ) approach is used in the analysis process so that both customer expectations and technical requirements are considered. Within this framework, a novel hybrid model has been proposed which has three different stages. Firstly, 3 groups of diseases and 4 clinical services for each group are determined regarding the customer needs. Secondly, these factors are weighted by using interval-valued intuitionistic hesitant 2-tuple fuzzy decision making and trial evaluation laboratory (DEMATEL). In the final stage, 9 different technical requirements are ranked by using interval-valued intuitionistic hesitant 2-tuple fuzzy technique for order preference by similarity to ideal solution (TOPSIS). Additionally, another evaluation has also been conducted by considering Spherical fuzzy sets. Similarly, a comparative analysis has also been performed with VIKOR while ranking the alternatives. It is concluded that analysis results of both evaluations are quite similar. This situation gives an information about the coherency and consistency of the analysis results. The findings indicate that treatment services in noncommunicable diseases play the most significant role in this respect. Moreover, according to the ranking results, it is concluded that strategic policies should be related to improving the social security and special physician capacity as well as decreasing the out-of-pocket payment.

Analysis of spiritual leadership and ethical climate for banking industry using an integrated IT2 fuzzy decision-making model

The study aims to propose a novel model to define the role of spiritual leadership on the ethical climate for the banking industry. There are mainly three different stages in this model. Firstly, the criteria of each factor are selected with correlation coefficients by considering the balanced scorecard (BSC)-based linguistic evaluations. After that, these criteria are weighted by using interval type-2 (IT2) fuzzy decision-making trial and evaluation laboratory (DEMATEL). The third and the final stage aims to rank 5 biggest banks of Turkey which are quoted in İstanbul Stock Exchange. Within this framework, IT2 fuzzy technique for order preference by similarity to ideal solution (TOPSIS) approach is considered. The findings demonstrate that the spiritual leadership has a significant influence on the ethical climate. Altruistic love is the most important spiritual leadership dimension to improve ethical climate in the organization. On the other side, it is also concluded that private banks in Turkey are the most successful with respect to the ethical climate. The results give an idea that spiritual leader contributes to the improvement of the ties of love and respect among employees. The main reason is that altruistic love improves the judgement and sensitivity competencies of the ethical so that employees tend to be working in a more ethical way.

Do High Oil Prices Obstruct the Transition to Renewable Energy Consumption?

The study analyzes the impact of economic growth, carbon dioxide (CO2) emissions, and oil price on renewable energy consumption in Azerbaijan for the data spanning from 1992 to 2015, utilizing structural time series modeling approach. Estimation results reveal that there is a long-run positive and statistically significant effect of economic growth on renewable energy consumption and a negative impact of oil price in the case of Azerbaijan, for the studied period. The negative impact of oil price on renewable energy consumption can be seen as an indication of comfort brought by the environment of higher oil prices, which delays the transition from conventional energy sources to renewable energy consumption for the studied country case. Also, we find that the effect of CO2 on renewable energy consumption is negative but statistically insignificant. The results of this article might be beneficial for policymakers and support the current literature for further research for oil-rich developing countries.

Analysis of Strategic Directions in Sustainable Hydrogen Investment Decisions

This study seeks to find the appropriate strategies necessary to make sustainable and effective hydrogen energy investments. Within this scope, nine different criteria are defined regarding social, managerial, and financial factors. A hesitant, interval-valued, intuitionistic fuzzy (IVIF) decision-making trial and evaluation laboratory (DEMATEL) methodology is considered to calculate the degree of importance of the criteria. Additionally, impact relation maps are also generated to visualize the causality relationship between the factors. The findings indicate that the technical dimension has the greatest importance in comparison to managerial and financial factors. Furthermore, it is also concluded that storage and logistics, research and development, and technological infrastructure are the most significant factors to be considered when defining hydrogen energy investment strategies. Hence, before investing in hydrogen energy, necessary actions should be taken to minimize the storage and logistic costs. Among them, building the production site close to the usage area will contribute significantly to this purpose. In this way, possible losses during the transportation of hydrogen can be minimized. Moreover, it is essential to identify the lowest-cost hydrogen storage method by carrying out the necessary research and development activities, thereby increasing the sustainability and effectiveness of hydrogen energy investment projects.

IT2 Fuzzy-Based Multidimensional Evaluation of Coal Energy for Sustainable Economic Development

The aim of this study is to determine the impact of coal energy on the economic development of countries. For this purpose, similar studies in the literature have been examined and nine different criteria have been determined for three dimensions affecting the use of coal energy. In order to determine the most important factors, an analysis is performed with IT2 fuzzy DANP method. The most important contribution of this study to the literature is that a proposal can be made for the use of coal energy by considering both positive and negative opinions related to this energy. On the other hand, IT2 fuzzy DANP method has been taken into consideration in this study for the first-time regarding coal energy and it is believed that methodological originality has been achieved. It is identified that social factors have the most importance in the use of coal energy. In this context, environmental pollution, health problems and demographic factors resulting from the use of coal energy should be taken into consideration in the use of this energy. Thus, problems arising from the use of coal energy far outweigh the economic benefits of using this energy. Therefore, factors that may prevent air pollution, such as carbon capture technology, should be considered in the use of coal energy. In addition, the use of high-quality coal will contribute to the reduction of the problems caused with this energy. In addition, investing in renewable energy sources that do not have negative impacts on the environment is also important for the sustainability of future energy policies.