Comprehensive MCDM Approach in the Process of Land Consolidation Project Choice

Zoran Ilić, Goran Marinković, Vladimir Bulatović, Anđelko Matić and Vladimir M. Petrović ()
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Zoran Ilić: Academy of Technical and Educational Vocational Studies, Aleksandra Medvedeva 20, 18000 Nis, Serbia
Goran Marinković: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Vladimir Bulatović: Faculty of Technical Sciences, University of Novi Sad, 21000 Novi Sad, Serbia
Anđelko Matić: Geoada d.o.o., Turgenjeva 5, 21000 Novi Sad, Serbia
Vladimir M. Petrović: Center of Ecology and Technoeconomics, Institute of Chemistry, Technology and Metallurgy, University of Belgrade, 11000 Belgrade, Serbia

Land, 2025, vol. 14, issue 9, 1-24

Abstract: Multi-criteria decision-making models are very useful tools for use in the process of land consolidation project choice. However, they can lead to wrong or suboptimal choices. Under limited budgetary conditions (where the available budget does not cover all project candidates’ requirements for their realization), it is necessary to make a proper choice regarding financial asset distribution. This process should lead to the best possible budget distribution, i.e., to the choice of land consolidation projects that promises the maximal return on the assets invested. In this research, the authors have conducted theoretical research based on real data to determine the sensitivity of the choice of land consolidation projects with regard to the influence of the chosen criteria for decision-making. The utilized data were obtained via four multi-criteria decision-making (MCDM) methods (AHP, VIKOR, SAW and TOPSIS). The method used for investigating the influence of certain criteria on decision-making was based on a multidimensional linear regression method where the rank of a land consolidation project is a dependent variable, while the values of criteria are independent variables.

Keywords: MCDM; land consolidation; statistical analysis; subjective decision; objective decision (search for similar items in EconPapers)
JEL-codes: Q15 Q2 Q24 Q28 Q5 R14 R52 (search for similar items in EconPapers)
Date: 2025
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