Data on Agricultural Insurance Reported by Researchers at Southern Taiwan University of Science and Technology (Evaluating and Selecting Agricultural Insurance Packages Through an Ahp-based Fuzzy Topsis Method): Agriculture – Agricultural Insurance

2022 MAY 03 (NewsRx) -- By a News Reporter-Staff News Editor at Insurance Daily News -- Data detailed on Agriculture - Agricultural Insurance have been presented. According to news reporting originating from Tainan, Taiwan, by NewsRx correspondents, research stated, “Participating in agricultural insurance programs can help farmers reduce risks of financial loss caused by adverse impacts, such as climate change. However, farmers in many developing countries face numerous obstacles to select a suitable agricultural insurance package, which can be attributed to different packages with various criteria including quantitative and qualitative, their different importance, and the aggregation of those weighted criteria.”

Financial support for this research came from Ministry of Science and Technology, Taiwan.

Our news editors obtained a quote from the research from the Southern Taiwan University of Science and Technology, “Thus, developing a method for evaluating packages has become a critical issue. To resolve the above problems, this paper proposes an AHP-based fuzzy TOPSIS method, in which ratings of alternative packages versus qualitative criteria are assessed in linguistic values represented by fuzzy numbers. In the proposed method, the criteria weights and the weights of distances of each alternative from positive and negative ideal solutions are generated by AHP to present the objectivity of the weight derivation process. In addition, the mean of removals is used to rank the final fuzzy values to clearly develop the formulas of the ranking procedure to help facilitate the decision-making process. A numerical example of evaluating and selecting agricultural insurance packages is presented to demonstrate the feasibility of the proposed method.”

According to the news editors, the research concluded: “Finally, a numerical comparison is conducted to show the robustness of the proposed method.”

This research has been peer-reviewed.

For more information on this research see: Evaluating and Selecting Agricultural Insurance Packages Through an Ahp-based Fuzzy Topsis Method. Soft Computing, 2022. Soft Computing can be contacted at: Springer, One New York Plaza, Suite 4600, New York, Ny, United States.

The news editors report that additional information may be obtained by contacting Ta-Chung Chu, Southern Taiwan University of Science and Technology, Dept Ind Management & Informat, Tainan, Taiwan.

The direct object identifier (DOI) for that additional information is: https://doi.org/10.1007/s00500-022-06964-6. This DOI is a link to an online electronic document that is either free or for purchase, and can be your direct source for a journal article and its citation.

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