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Analytic network process vs. Benjamin Franklin's rule to select private small hydropower plants investments
By Burak Omer Saracoglu
ITU Institute of Science and Technology, Turkey
Published: Jul 26, 2018 | pg. no: 1-17
Abstract: The real world investments are problematic, hence their analysis is difficult. Private small hydropower plant investments' (PSHPPI) need attention in this respect. Applying as many multi-criteria decision making (MCDM) methods as possible shall help to take satisfactory decisions. Accordingly, this research study presents mainly the findings of two methods: Analytic Network Process (ANP) and Benjamin Franklin’s Rule. The current weightings are only based on the subjective weighting with pair wise approach (Saaty's). These findings in this study (2016) are compared with the previous ones (AHP, DEXi, ELECTRE, PROMETHEE) (2013-2015). There are 5 alternatives and 17 factors in the current models like the predecessor studies. The ANP model is built on the Super Decisions Software. The Benjamin Franklin’s Rule model is presented on the Microsoft Office Excel and the Apache Open Office Calc. The ANP ranking is Alternative 1 (1st), Alternative 5, Alternative 4, Alternative 2 and Alternative 3 (5th). The Benjamin Franklin’s Rule ranking is Alternative 5 (1st), Alternative 4, Alternative 1, Alternative 2 and Alternative 3 (5th).
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