Title
Simple Additive Weighting versus Technique for Order Preference by Similarity to an Ideal Solution: which method is better suited for assessing the sustainability of a real estate project
Abstract
In the real estate sector, sustainability assessment tools enable the transition to buildings with lower impacts on the environment, the economy and the society. A variety of multi-criteria decision-making (MCDM) methods has been proposed to address this problem. There is, however, no consensus on the method to be used in each assessment case. The paper presents an empirical application and comparison of two different MCDM approaches SAW (Simple Additive Weighting) and TOPSIS (Technique for Order Preference by Similarity to an Ideal Solution) to assessing the sustainability of a real estate project. 18 sustainability criteria weighted by experts formed the basis of sustainability assessment of a real estate project. The results of the study revealed a significant difference between the ranks obtained by SAW and TOPSIS. Moreover, the results of the MCDM sensitivity analysis showed that the TOPSIS method is more sensitive to changes in baseline data than the SAW method.
Keywords
multi-criteria decision-making, multiple-criteria decision-making, real estate project, sustainability assessment, sensitivity analysis, Real Estate Sustainability Index (RESI)
JEL classifications
C00 , Q01 , M21 , O22 , L74 , L85
URI
http://jssidoi.org/jesi/article/816
DOI
Pages
180-196
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Creative Commons Attribution 4.0 International License
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