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Identifying the line of priority of the alternatives
. The line of priority of the alternatives is
determined considering their relative weights. The higher is the relative weight
Qj
, the more
efficient the alternative is and thus gets higher priority. Potentially the best relative weight
Q
max
of an alternative will always take the highest position with other alternatives listed
below.
Calculating the utility degree
. The utility degree
N
j
of the object
a
j
marks the extent to which
the object meets the requirements of the environment and stakeholders. The utility degree,
therefore, helps to measure and justify the market value of the object in question. The more
criteria show that the object meets the environmental conditions, the higher, proportionally,
is the object's utility degree, which, in turn, has a positive impact on the market value
(Kaklauskas 1999; Zavadskas & Kaklauskas, 2008). Then we proceed with identification of
the weights, utility degrees and priorities of the environmental criteria that describe the
objects in question. The efficiency degree
E
ji
of the object
a
j
is calculated. It shows the
percentage by which the object
a
j
is either better or worse than the object
a
i
.
E
ji
is calculated
by comparing the utility degrees of the objects in question:
E
ji
= N
j
- N
i
. (8)
The average deviation
k
j
of the utility degree
N
j
of the object
a
j
is calculated by comparing it
with other objects (
n
-1).
n
(9)
.
k
E
:
n
1
j
ji
i
0
The initial value of the object in question is calculated using the following formula:
n
(10)
x
x
.
:
n
1
11
1
j
j
1
The market prices of other comparable objects must be known if we want to calculate the
market value of the technology or object in question in the above way. Generally, the
analysis may be based either on the prices, say, determined by independent appraisers or
analysts (when assets or investment projects must be analysed), or on the value estimated
using economic methods (e.g., when technologies must be evaluated). The best way to frame
the problem would be as follows: to determine, through an integrated analysis of the
positive and negative features, which market value of the object a
1
would make it
competitive in the market on equal footing with other comparable objects. The revised value
x
11-p
of the object
a
1
is calculated using the formula (11) :
x
11- p
= x
11
×
(1
+ k
1
:
100).
(11)
It is determined whether the revised value
x
11
-
p
of the object
a
1
was calculated accurately
enough:
k
1
(12)
here
S
is the accuracy in percent for the calculations of the market value
x
11
-R
of the object
a
1
.
The market value
x
11-R
of the object
a
1
shall be deemed calculated when the following
equation is satisfied:
S
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