Optimal Budget Allocation of R&D Programs for Sustainable Development - A Case Study of Construction and Transportation
Event name: Fourth Sustainable Earth Sciences Conference
Session: Cross-disciplinary Topics
Publication date: 03 September 2017
Info: Extended abstract, PDF ( 842.44Kb )
Price: € 20
In many countries, various R&D programs have been pursued to increase national competitiveness and to improve the quality of public life and sustainable Development (SD) has become a primary objective for R&D activities, especially in the area of Construction and Transportation(C&T) technology. Optimal budget allocation in line with the strategic objectives of SD is one of the major tasks for policy makers but guidelines for developing the content and a decision-making system for budget allocation have not been appropriately established. In this study, the capability of the genetic algorithm (GA) to suggest an optimal budget layout is investigated using the R&D data from Korea. First, a relationship the C&T technology classification to SD indicators is investigated. Then, the GA is applied for the optimal allocation of the R&D budget. The case study shows the potential to provide decision-making information for R&D budget allocation according to the strategic objectives of SD.