Fuzzy multiattribute evaluation of R&D projects using a real options valuation model

International Journal of Intelligent Systems

Volumn 23, Issue 11, 2008, Pages 1153-1176

  Tolga, A Çaǧri ^a   Kahraman, Cengiz ^b  

^a GALATASARAY UNIVERSITY   (Turkey)

^b ISTANBUL TECHNICAL UNIVERSITY   (Turkey)

Author keywords

[No Author keywords available]

Indexed keywords

ECONOMICS; HIERARCHICAL SYSTEMS;

EVALUATION PROCESSES; FUZZY ANALYTIC HIERARCHY PROCESSES; MULTI-DIMENSIONAL; PROJECT SELECTIONS; REAL CASES; REAL OPTIONS; REAL OPTIONS APPROACHES; SELECTION PROCESSES; STRATEGIC OBJECTIVES; TWO WAYS; VALUATION MODELS;

DECISION THEORY;

EID: 55749090206     PISSN: 08848173     EISSN: 1098111X     Source Type: Journal    
DOI: 10.1002/int.20312     Document Type: Article

References (31)

1. Schwartz SL, Vertinsky I. Multi-attribute investment decisions: a study of R&D project selection. Manag Sci 1977;24(3):285-301.
2. Liberatore MJ. An extension of the analytic hierarchy process for industrial R&D project selection and resource allocation. IEEE Trans Eng Manag 1987;34(1):12-18.
3. Oral M, Kettani O, Lang P. A methodology for collective evaluation and selection of industrial R&D projects. Manag Sci 1991;37(7):871-885.
4. Coffin MA, Taylor BW. Multiple criteria R&D project selection and scheduling using fuzzy logic. Comput Oper Res 1996;23(3):207-220.
5. Henig MI, Kantz H. R&D project selection: a decision approach. J Multi-criteria Decis Anal 1996;5:169-177.
6. Poh KL, Ang BW, Bai F. A comparative analysis of R&D project evaluation methods. R&D Manag 2001;31(1):63-75.
7. Linton JD, Walsh ST, Morabito J. Analysis, ranking and selection of R&D projects in a portfolio. R&D Manag 2002;32:139-148.
8. Zimmermann H-J. Fuzzy set theory and its applications, 3rd ed. Boston, MA: Kluwer; 1996.
9. Zadeh L. Fuzzy sets. Inf Control 1965;8:338-353.
10. Kahraman C, Cebeci U, Ruan D. Multi-attribute comparison of catering service companies using fuzzy AHP: the case of Turkey. Int J Prod Econ 2004;87:171-184.
11. Dias OP Jr. The R&D project selection problem with fuzzy coefficients. Fuzzy Sets Syst 1988;26:299-316.
12. Hwang HS, Yu JC. R&D project evaluation model based on fuzzy set priority. Comput Ind Eng 1998;35(3-4):567-570.
13. Hsu YG, Tzeng GH, Shyu JZ. Fuzzy multiple criteria selection of government-sponsored frontier technology R&D projects. R&D Manag 2003;33(5):539-551.
14. Wang K, Wang C, Hu C. Analytic hierarchy process with fuzzy scoring in evaluating multidisciplinary R&D projects in China. IEEE Trans Eng Manag 2005;52(1):119-129.
15. Mohanty RP, Agarwal R, Choudhury AK, Tiwari MK. A fuzzy ANP-based approach to R&D project selection: a case study. Int J Prod Res 2005;43(24):5199-5216.
16. Huang CC, Chu PY, Chiang YH. A fuzzy AHP application in government-sponsored R&D project selection. Omega 2008;36(6):1038-1052.
17. Brach MA. Real options in practice. Hoboken, NJ: Wiley; 2003.
18. Carlsson C, Fullér R. A fuzzy approach to real option valuation. Fuzzy Sets Syst 2003;139:297-312.
19. Wang J, Hwang WL. A fuzzy set approach for R&D portfolio selection using a real options valuation model. Omega 2007;35:247-257.
20. Carlsson C, Fullér R, Heikkilä M, Majlender P. A fuzzy approach to R&D project portfolio selection. Int J Approx Reason 2007;44:93-105.
21. Kahraman C, Ruan D, Dogan I. Fuzzy group-decision making for facility location selection. Inf Sci 2003;157:135-153.
22. Bozdag CE, Kahraman C, Ruan D. Fuzzy group decision making for selection among computer integrated manufacturing systems. Comput Ind 2003;51:13-29.
23. Kulak O, Kahraman C. Fuzzy multi-attribute selection among transportation companies using axiomatic design and analytic hierarchy process. Inf Sci 2005;170:191-210.
24. Tüysüz F, Kahraman C. Project risk evaluation using a fuzzy analytic hierarchy process: An application to information technology projects. Int J Intell Syst 2006;21:559-584.
25. Wang L, Chu J, Wu J. Selection of optimum maintenance strategies based on a fuzzy analytic hierarchy process. Int J Prod Econ 2007;107:151-163.
26. Kuei CH, Lin C, Aheto J, Madus CN. A strategic decision model for the selection of advanced technology. Int J Prod Res 1994;32(9):2117-2130.
27. Brenner MS. Practical R&D project prioritization. Res Technol Manag 1994;37(5):38-42.
28. Chen HH, Lee AHI, Tong Y. New product mix selection for a high technology company in a technology innovation network. J Technol Manag China 2006;1(2):174-189.
29. Saaty TL. The analytic hierarchy process. New York: Wiley; 1980.
30. Li W, Jiaqi L. Trapezoidal fuzzy AHP and its application to optimal selection of satellite system schemes. J Harbin Inst Technol 2002;34(3):315-319.
31. Xiaoqiong W, Fang P, Shihuang S, Jianan F. Trapezoidal fuzzy AHP for the comprehensive evaluation of highway network programming schemes in Yangtze River delta. In: Proc 5th World Cong on Intelligent Control and Automation, Hangzhoou, People's Republic of China; June 15-19, 2004. pp 5232-5236.