Extension of Fuzzy Delphi AHP Based on Interval-Valued Fuzzy Sets and its Application in Water Resource Rating Problems

Water resource management problems are complex by nature and are often accompanied by many uncertainties, requiring suitable decision-making tools to solve. If decision makers cannot agree on a method of defining linguistic variables based on the fuzzy sets, favorable results and more accurate modeling can be achieved by using interval-valued fuzzy sets (IVFSs), which provide an additional degree of freedom to represent the uncertainty and fuzziness of the real world. Accordingly, this study is aimed to extend a fuzzy Delphi analytic hierarchy process (AHP) based on IVFSs (Interval-Valued Fuzzy Delphi AHP) and its application to large-scale rating problems related to water resource management. The proposed method is subsequently applied to select an optimal strategy for the rural water supply of Nohoor Village in northeast Iran, as a case study and actual water resource rating problem. According to sensitivity analyses of the results and a comparison of the results with a real project, the proposed method offers good outcomes for water resource rating problems.     

Increasing Water Security: An Algorithm to Improve Water Distribution Performance

Water Distribution Systems (WDSs) are indispensable infrastructures for urban societies. Due to vitality of continuous supply of drinking water in urban areas, it is necessary to have a performance evaluation and monitoring system to provide the expected level of security in water distribution systems. A main weakness point of these systems is the physical break of pipes which results in high level of water loss, pollution risk and public unsatisfactory. In this study, a framework is developed to increase physical water supply security in urban areas. For this purpose, a physical vulnerability index (PVI) is developed for evaluation of physical statues of water mains. In quantifying PVI, pipe characteristics and bedding soil specifications are considered. The importance of these factors on PVI is determined using Analytical Hierarchy Process (AHP). In system performance evaluation, the pipe role in system performance is incorporated regarding pipe location in WDS, distance of pipe from reservoir and average pressure of pipe. Then, System Physical Performance Index (SPVI) is evaluated. An optimization algorithm is employed to determine ways to improve the system performance through enhancing the physical condition of the pipe in the system at a minimum cost. The genetic algorithm is employed for solving the optimization model. A global sensitivity analysis method named FAST, is used for sensitivity analysis to incorporate the correlation between different parameters in analysis. The proposed framework is applied to a case study located in Tehran metropolitan area. The results of this study show the significant value of the proposed algorithm in supporting decision makers to better choose vulnerable pipes for rehabilitation practices in order to decrease system vulnerability against physical failures.     

The relative power of ceos and boards of directors: Associations with corporate performance

A typology of the relative powers of the chief executive officer and the board of directors was derived based on the literature, highlighting four situations: Caretaker, Statutory, Proactive and Participative boards. Data collected from Fortune 500 Industrial and Fortune 500 Service corporations supported the typology. The results showed significant differences among the four board types in their characteristics, internal process, decision-making styles, board effectiveness, and contribution to company performance. Powerful boards were associated with superior corporate financial performance.     

Re-testing Prebisch–Singer hypothesis: new evidence using Fourier quantile unit root test

The Prebisch–Singer hypothesis in economics asserts that over time the relative price of primary goods relative to manufactured goods should experience a downward trend. To test the hypothesis, we must first establish the unit root properties of the relative price term and then regress the stationary series on a trend term. We use the quantile unit root test which allows for both smooth unknown numbers and the form of breaks in the trend function through a Fourier function to show that the relative price of 23 out of 24 primary goods is stationary. However, the Prebisch–Singer hypothesis is supported only in half of the primary commodities.