Figure 2
At the top center is the box labeled “Equipment Acquisition”. Three branches extend downward to the second level, containing the boxes “Benefit”, “Cost Estimation”, and “Risk”. Under “Benefit”, two boxes appear: “Equipment Uniqueness” and “Utilization”. The “Utilization” box further branches downward into three boxes labeled “Teaching”, “Research”, and “Service Provision”. Under “Risk”, three boxes appear labeled “Supplier Representation”, “Equipment Obsolescence”, and “Utilization Potential”. “Equipment Obsolescence” further branches into “After-Sales Service” and “Model Age”.Hierarchy of objectives for the university asset acquisition decision problem