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

Nomeda Dobrovolskienė () and Anastasija Pozniak ()
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Nomeda Dobrovolskienė: Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania
Anastasija Pozniak: Vilnius Gediminas Technical University (VILNIUS TECH), Lithuania

Entrepreneurship and Sustainability Issues, 2021, vol. 8, issue 4, 180-196

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) (search for similar items in EconPapers)
JEL-codes: C00 L74 L85 M21 O22 Q01 (search for similar items in EconPapers)
Date: 2021
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:ssi:jouesi:v:8:y:2021:i:4:p:180-196

DOI: 10.9770/jesi.2021.8.4(10)

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