Open AccessPublic Project Portfolio Optimization under a Participatory Paradigm
Author(s) -
Eduardo Fernández,
Rafael Olmedo
Publication year - 2013
Publication title -
applied computational intelligence and soft computing
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.371
H-Index - 10
eISSN - 1687-9732
pISSN - 1687-9724
DOI - 10.1155/2013/891781
Subject(s) - portfolio , citizen journalism , computer science , democracy , work (physics) , citizenship , ranking (information retrieval) , government (linguistics) , space (punctuation) , public relations , public administration , management science , political science , politics , business , economics , finance , information retrieval , law , world wide web , mechanical engineering , linguistics , philosophy , engineering , operating system
A new democracy paradigm is emerging through participatory budgeting exercises, which can be defined as a public space in which the government and the society agree on how to adapt the priorities of the citizenship to the public policy agenda. Although these priorities have been identified and they are likely to be reflected in a ranking of public policy actions, there is still a challenge of solving a portfolio problem of public projects that should implement the agreed agenda. This work proposes two procedures for optimizing the portfolio of public actions with the information stemming from the citizen participatory exercise. The selection of the method depends on the information about preferences collected from the participatory group. When the information is sufficient, the method behaves as an instrument of legitimate democracy. The proposal performs very well in solving two real-size examples
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