A Multi-Criteria Analysis Model for Investment Projects in Smart Cities

A city plays a central role in the processes of economic, social, and environmental development, becoming the core of policy makers’ strategies. Thus, it is essential to optimize the use of monetary resources available by means of integrated decision-support approaches, able to pursue an increasingly “instrumented, interconnected and intelligent” cities prototype. In this perspective, the Smart City paradigm addresses the challenges of sustainable development through the implementation of new spatial planning schemes, which require the selection of projects on the basis of multi-criteria economic evaluation logics, namely financial and extra-financial criteria. The purpose of the work is to define an innovative model of economic analysis for the choice of investments in a Smart City, useful for both public operators and private investors. The evaluation protocol is written in the A Mathematical Programming Language (AMPL) through the optimization algorithms of Discrete Linear Programming (DLP). The effectiveness, adaptability, and operational simplicity of the investigative tool are tested on a case study. The model’s limitations and research perspectives are highlighted in the conclusions of the work.

[1]  Jesse M. Shapiro,et al.  Urban Growth in the 1990s: Is City Living Back? , 2003 .

[2]  Theresa A. Pardo,et al.  Conceptualizing smart city with dimensions of technology, people, and institutions , 2011, dg.o '11.

[3]  E. Barbier.  The Concept of Sustainable Economic Development , 1987, Environmental Conservation.

[4]  Bjørn Johnson,et al.  Cities, systems of innovation and economic development , 2008 .

[5]  Edwin H.W. Chan,et al.  Is the development control legal framework conducive to a sustainable dense urban development in Hong Kong , 2004 .

[6]  Gregory S. Yovanof,et al.  An Architectural Framework and Enabling Wireless Technologies for Digital Cities & Intelligent Urban Environments , 2009, Wirel. Pers. Commun..

[7]  P. Nijkamp,et al.  Smart Cities in Europe , 2011 .

[8]  Andrei Shleifer,et al.  Economic Growth in a Cross-Section of Cities , 1995 .

[9]  Tamara Kulesa.  A Vision of Smarter Cities : How Cities Can Lead the Way into a Prosperous and Sustainable Future Moderator : , 2009 .

[10]  R. Kanter,et al.  Informed and Interconnected: A Manifesto for Smarter Cities , 2009 .

[11]  Carlo Vercellis.  Ottimizzazione. Teoria, metodi, applicazioni. , 2008 .

[12]  Lavagnon A. Ika.  Project Success as a Topic in Project Management Journals , 2009 .

[13]  Antonio Nesticò,et al.  Significant appraisal issues in value estimate of quarries for the public expropriation , 2017 .

[14]  Nancy Odendaal,et al.  Information and communication technology and local governance: understanding the difference between cities in developed and emerging economies , 2003, Comput. Environ. Urban Syst..

[15]  Antonio Nesticò,et al.  A protocol for sustainable building interventions: financial analysis and environmental effects , 2015, Int. J. Bus. Intell. Data Min..

[16]  Georgios K. Ouzounis,et al.  Smart cities of the future , 2012, The European Physical Journal Special Topics.

[17]  G. D. Mare,et al.  Weak and Strong Compensation for the Prioritization of Public Investments: Multidimensional Analysis for Pools , 2015 .

[18]  Jayant Kalagnanam,et al.  Foundations for Smarter Cities , 2010, IBM J. Res. Dev..

[19]  Curtis J. Simon,et al.  Human capital and the rise of American cities, 1900–1990 , 2002 .

[20]  C. S Lim,et al.  Criteria of project success: an exploratory re-examination , 1999 .

[21]  F. Sica,et al.  The sustainability of urban renewal projects: a model for economic multi-criteria analysis , 2017 .

[22]  Paolo Ventura.  Alcuni contributi alla separazione primale e duale per problemi di programmazione lineare intera , 2003 .

[23]  Antonio Nesticò,et al.  Demographic Changes and Real Estate Values. A Quantitative Model for Analyzing the Urban-Rural Linkages , 2017 .

[24]  Antonio Nesticò,et al.  An Optimization Algorithm for the Selection of Investment Projects in Smart Cities , 2017 .

[25]  Antonio Nesticò,et al.  An estimate model for the equalisation of real estate tax: a case study , 2015, Int. J. Bus. Intell. Data Min..

[26]  Mariacristina Roscia,et al.  Definition methodology for the smart cities model , 2012 .

[27]  José Ramón Gil-García,et al.  Understanding Smart Cities: An Integrative Framework , 2012, HICSS.

[28]  Jesse M. Shapiro.  Smart Cities: Quality of Life, Productivity, and the Growth Effects of Human Capital , 2005, The Review of Economics and Statistics.