2012
MAS 2012 Proceeding
Optimal allocation of economic resources using the AHP absolute model
Authors: Fabio De Felice, Antonella Petrillo, Michele Tricarico
Abstract
One often wonders why more people in organizations do not rush today to use a formal decision-making approach to make their complex decisions. A strange thing about people is that they value money and other valuable resources over their own loosely defined and not well-organized subjective value systems. This paper places special emphasis on the measurement of intangible criteria and on their incorporation into the allocation process through a proper decision making approach. The purpose of decision-making is to help people make decisions according to their own understanding. In this paper, a well know decision- making method, the Analytic Hierarchy Process (AHP) is applied to identify a quality model to evaluate Italian racecourses performances based upon the criteria Quality organization of Racing, Infrastructure and Equipment, Attractiveness and Management Skill. The main conclusion is that the AHP model adopted can manage all the information of the real-world problem.
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