Selection of an Insurance Company in Agriculture through Hybrid Multi-Criteria Decision-Making

Crop insurance is used to reduce risk in agriculture. This research is focused on selecting an insurance company that provides the best policy conditions for crop insurance. A total of five insurance companies that provide crop insurance services in the Republic of Serbia were selected. To choose the insurance company that provides the best policy conditions for farmers, expert opinions were solicited. In addition, fuzzy methods were used to assess the weights of the various criteria and to evaluate insurance companies. The weight of each criterion was determined using a combined approach based on fuzzy LMAW (the logarithm methodology of additive weights) and entropy methods. Fuzzy LMAW was used to determine the weights subjectively through expert ratings, while fuzzy entropy was used to determine the weights objectively. The results of these methods showed that the price criterion received the highest weight. The selection of the insurance company was made using the fuzzy CRADIS (compromise ranking of alternatives, from distance to ideal solution) method. The results of this method showed that the insurance company DDOR offers the best conditions for crop insurance for farmers. These results were confirmed by a validation of the results and sensitivity analysis. Based on all of this, it was shown that fuzzy methods can be used in the selection of insurance companies.

Selection of suitable adsorbent for the removal of Cr(VI) by using objective based multiple attribute decision making method

The objective of the current manuscript is to develop a systematic and simplified expert system for the selection of suitable adsorbent to treat Cr(VI). Selection of adsorbent among the large options available by considering all possible factors and their interaction is required in an easy, organized and rational way. In this study, fuzzy logic is used for the choosing an appropriate adsorbent for the Cr(VI) removal. Multiple attribute decision making (MADM) is utilized to work out the relative weighting values for the chosen sorbent. The preference index is calculated by using the subjective and objective weights. The normalized value associated with each parameter has given on the basis of effect of each parameter on the removal of Cr(VI) and uptake capacity of each material. The associated MADM method results and the barriers of the approach is mentioned to lay the basis for in addition enhancement.