A portfolio selection of internet of things (IoTs) applications for the sustainable urban transportation: A novel hybrid multi criteria decision making approach

Jalil Heidary Dahooie, Ayoub Mohammadian, Ali Reza Qorbani and Tugrul Daim

Technology in Society, 2023, vol. 75, issue C

Abstract: The nature of technological innovations is unpredictable, therefore decision making on disruptive technologies such as the Internet of Things (IoT) in many public sector organizations is undisciplined. Due to resource limitations and tremendous payoffs, there is a need to have a decision-making framework to manage technological innovations as a portfolio of investments that balances risk and reward simultaneously. This study provides a new portfolio matrix for decision making to identify IoT applications in the urban transportation sector for future investment based on two dimensions of impact on sustainable development (SD) and feasibility for implementing IoT using a novel hybrid multi criteria decision making approach. For this purpose, seventeen IoT applications in urban transportation were identified using a systematic literature review. The improved Fuzzy Cognitive Map (FCM) - Best Worth Method (BWM) method was used to determine the relationship between SD criteria and IoT challenges, and to calculate their importance. Then, the Additive Ratio Assessment (ARAS) method was used to prioritize the IoT applications based on SD criteria and IoT challenges. Finally, the adapted impact-feasibility matrix was used to simultaneously evaluate both criteria for selecting the IoT applications portfolio. Results of this paper show that bike sharing and car sharing have the first priority for investment in the case of a developing country.

Keywords: Internet of things (IoT); Urban transportation; Best worth method (BWM); Fuzzy cognitive map (FCM); Additive ratio assessment (ARAS); Multi criteria decision making (MCDM) (search for similar items in EconPapers)
Date: 2023
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
http://www.sciencedirect.com/science/article/pii/S0160791X23001719
Full text for ScienceDirect subscribers only

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:eee:teinso:v:75:y:2023:i:c:s0160791x23001719

DOI: 10.1016/j.techsoc.2023.102366

Access Statistics for this article

Technology in Society is currently edited by Charla Griffy-Brown

More articles in Technology in Society from Elsevier
Bibliographic data for series maintained by Catherine Liu ().