Search results for: choice theory

Authors: Leah Wright, Trevor Townsend

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Mode choice models are crucial instruments in the analysis of travel behaviour. These models show the relationship between an individual’s choice of transportation mode for a given O-D pair and the individual’s socioeconomic characteristics such as household size and income level, age and/or gender, and the features of the transportation system. The most popular functional forms of these models are based on Utility-Based Choice Theory, which addresses the uncertainty in the decision-making process with the use of an error term. However, with the development of artificial intelligence, many researchers have started to take a different approach to travel demand modelling. In recent times, researchers have looked at using neural networks, fuzzy logic and rough set theory to develop improved mode choice formulas. The concept of cloud theory has recently been introduced to model decision-making under uncertainty. Unlike the previously mentioned theories, cloud theory recognises a relationship between randomness and fuzziness, two of the most common types of uncertainty. This research aims to investigate the use of cloud theory in mode choice models. This paper highlights the conceptual framework of the mode choice model using cloud theory. Merging decision-making under uncertainty and mode choice models is state of the art. The cloud theory model is expected to address the issues and concerns with the nested logit and improve the design of mode choice models and their use in travel demand.

Keywords: Cloud theory, decision-making, mode choice models, travel behaviour, uncertainty

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Authors: Majdi Anwar Quttainah, William Paczkowski, Ali Muhammad

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Determining the value of a privately held firms confound those in academia as well as practitioners in the fields of appraisal, forensic accounting, and law. Divergent parties to the transfer look to apply the valuation technique to serve their own best interests. This paper seeks to explore how agency theory induces owners to choose the form of their businesses at inception and how this choice will affect the appraisers’ valuation of the firm at the transfer of ownership.

Keywords: organizational form, agency theory, value

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Authors: Mohammad Tipu Sultan, Farzana Sharmin, Ke Xue

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Social media create a better opportunity for travelers to search for travel information, select destination and share their personal experiences of the travel. This study proposes a framework which describes the relationships between social media, and positive or negative tourism experience sharing impact on destination choice. To find out new trends of travelers behavioral intention, we propose an extended theoretical model, the Theory of Reasoned Action (TRA). We conducted a survey to analyze three external factors, subjective norms, and positive and negative experience influence on travel destination choice. Structural questionnaire analysis was employed to confirm the proposed research hypothesis within the relationship between consumer influences on the shared experience of social media. The results of the study confirm that sharing positive experiences influence the positive effect of destination choice, while negative experiences decrease the destination selection option. The results indicate that attitudes, subjective norms are passively influenced by shared experience. Moreover, we find that sharing live pictures of travel experiences through social media helps to reduce negative perceptions of the destination brand. This research contribution is useable to the research field as a new determination factor and the findings could be used by destination organization management (DMO) to enhancing their tourism promotion through social media.

Keywords: destination choice, tourism experience sharing, Theory of Reasoned Action, TRA, social media

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Authors: YuPei Chang

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In recent years, moral judgement tasks have served as an increasingly popular plot mechanism in digital gameplay. As a moral agency, the player's choice judgment in digital games is to shuttle between the real world and the game world. The purpose of the research is to explore the moral difficulties brewed by the interactive mechanism of the game and the moral choice of players. In the theoretical level, this research tries to combine moral disengagement, moral foundations theory, and gameplay as an aesthetic experience. And in the methodical level, this research tries to use methods that combine text analysis, diary method, and in-depth interviews. There are three research problems that will be solved in three stages. In the first stage, this project will explore how moral dilemmas are represented in game mechanics. In the second stage, this project will analyze the appearance and conflicts of moral dilemmas in game mechanics based on the five aspects of moral foundations theory. In the third stage, this project will try to understand the players' choices when they face the choices of moral dilemmas, as well as their explanations and reflections after making the decisions.

Keywords: morality, moral disengagement, moral foundations theory, PC game, gameplay, moral dilemmas, player

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Authors: Manal Rauf

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Trained medical practitioners are produced from medical colleges serving in public and private sectors. Prime responsibility of teaching faculty is to inculcate required work ethic among the students by serving as role models for them. It is an observed fact that classroom incivility behaviours are providing a friction in achieving these targets. Present study aimed at identification of classroom incivility behaviours observed by teachers and students of public and private medical colleges as per Glasser’s Choice Theory, making a comparison and investigating the strategies being adopted by teachers of both sectors to control undesired class room behaviours. Findings revealed that a significant difference occurs between teacher and student incivility behaviours. Public sector teacher focussed on survival as a strong factor behind in civil behaviours whereas private sector teachers considered power as the precedent for incivility. Teachers of both sectors are required to use verbal as well as non-verbal immediacy to reach a healthy leaning environment.

Keywords: classroom incivility behaviour, glasser choice theory, Mehrabian immediacy theory

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Authors: Eurico Lima Basto, Ofélia Pinto, Anabela Silva, Amélia Ferreira-Da-Silva

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The purpose if this study is two-fold: on the one hand, to identify the accounting information systems implemented in third sector organizations, as well as its components, its tools and the decisions and control purposes they serve; on the other hand, and by confronting these two theories - institutional theory versus rational choice – we intent to go further by understanding the reasons behind the adoption of the aforementioned tools. Data has been collected from third sector organizations operating in Portugal. Our sample includes all juridical types of organizations such as foundations, cooperative, associations or private institutions of social solidarity. The questionnaire contained sixteen close-ended questions and four open-questions. Results confirm the theoretical perspective of institutionalism. Most third sector organizations operating in Portugal implemented only traditional accounting tools like standard accounting statements, cost accounting, budgeting. Moreover, there is clear evidence that the decisions about the implementation of these tools were coercive oriented. With this study it is intended to contribute to a better understanding of the context of third sector organizations in Portugal, in particular the role that accounting plays in this sector, with a special focus on management accounting tools, and the factors that influence their use and the degree of their usefulness in the process of decision making.

Keywords: third sector, accounting tools, institutional theory, Portugal, descriptive research

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Authors: Abhishek Ranga

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The study examined the effect of accounting choice and level of disclosure on the firm’s implied cost of equity in Indian environment. For the study accounting choice was classified as aggressive or conservative depending upon the firm’s choice of accounting methods, accounting policies and accounting estimates. Level of disclosure is the quantum of financial and non-financial information disclosed in firm’s annual report, essentially in note to accounts section, schedules forming part of financial statements and Management Discussion and Analysis report. Regression models were developed with cost of equity as a dependent variable and accounting choice, level of disclosure as an independent variable along with selected control variables. Cost of equity was measured using Edward-Bell-Ohlson (EBO) valuation model, to measure accounting choice Modified-Jones-Model (MJM) was used and level of disclosure was measured using a disclosure index essentially drawn from Botosan study. Results indicated a negative association between the implied cost of equity and conservative accounting choice and also between level of disclosure and cost of equity.

Keywords: aggressive accounting choice, conservative accounting choice, disclosure, implied cost of equity

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Authors: Susana Marques

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Research on how store environment cues influence consumers’ store choice decision criteria, such as store operations, product quality, monetary price, store image and sales promotion, is sparse. Especially absent research on the simultaneous impact of multiple store environment cues. The authors propose a comprehensive store choice model that includes: three types of store environment cues as exogenous constructs; various store choice criteria as possible mediating constructs, and store patronage intentions as an endogenous construct. On the basis of testing with a sample of 561 customers of hypermarkets, the model is partially supported. This study used structural equation modelling to test the proposed model.

Keywords: store choice, store patronage, structural equation modelling, retailing

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Authors: Jonathan Marks, Lauren Katz

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Family firms are a vital component of a country’s stability, prosperity and development. Their sustainability, longevity and continuity are critical. Given the premise that family firms wish to continue the business for the benefit of the family, the family founder / owner is faced with an emotionally charged transition option; either to transfer the family business to a family member or to transfer the firm to a non-family member. The rationale employed by family founders to select non-family members as successors/ executives of choice and the concomitant rationale employed by non-family members to select family firms as employers of choice, has been under-researched in the literature of family business succession planning. This qualitative study used semi-structured interviews to gain access to family firm founders/ owners, non-family successors/ executives and industry experts on family business. The findings indicated that the rationale for family members to select non-family successors/ executives was underpinned by the objective to grow the family firm for the benefit of the family. If non-family members were the most suitable candidates to ensure this outcome, family members were comfortable to employ non-family members. Non- family members, despite the knowledge that benefit lay primarily with family members, chose to work for family firms for personal benefits in terms of wealth, security and close connections. A commonly shared value system was a pre-requisite for all respondents. The research study provides insights from family founders/ owners, non-family successors/ executives, and industry experts on the subject of succession planning outside the family structure.

Keywords: agency theory, family business, institutional logics, non-family successors, Stewardship Theory

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Authors: Jianxin Zhu, Na Liu

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Entry strategies play a vital role in the development of new enterprises in the catering industry. Different entry strategies will have different effects on the development of new enterprise. Based on the research of scholars at home and abroad, and combining the characteristics of the catering industry, the entry strategies are divided into low-price entry strategies and high-quality entry strategies. Facing the entry of new enterprise, the strategies of incumbent enterprises are divided into response strategies and non-response strategies. This paper uses evolutionary game theory to study the strategic interaction mechanism between incumbent companies and new enterprises. When different initial values and parameter values are set, which strategy will the two-game subjects choose, respectively? Using matlab2016 for numerical simulation, the results show that the choice of strategies for new enterprise and incumbent enterprise is influenced by more than one factor, and the system has different evolution trends under different circumstances. When the parameters were set, the choice of two subjects' strategies mainly depends on the net profit between the strategies.

Keywords: catering industry, entry strategy, evolutionary game, strategic interaction mechanism

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Authors: Kamran Yazdanbakhsh, Somayeh Mahmoudi

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Three reasons make good use of the decision theory in medicine: 1. Increased medical knowledge and their complexity makes it difficult treatment information effectively without resorting to sophisticated analytical methods, especially when it comes to detecting errors and identify opportunities for treatment from databases of large size. 2. There is a wide geographic variability of medical practice. In a context where medical costs are, at least in part, by the patient, these changes raise doubts about the relevance of the choices made by physicians. These differences are generally attributed to differences in estimates of probabilities of success of treatment involved, and differing assessments of the results on success or failure. Without explicit criteria for decision, it is difficult to identify precisely the sources of these variations in treatment. 3. Beyond the principle of informed consent, patients need to be involved in decision-making. For this, the decision process should be explained and broken down. A decision problem is to select the best option among a set of choices. The problem is what is meant by "best option ", or know what criteria guide the choice. The purpose of decision theory is to answer this question. The systematic use of decision models allows us to better understand the differences in medical practices, and facilitates the search for consensus. About this, there are three types of situations: situations certain, risky situations, and uncertain situations: 1. In certain situations, the consequence of each decision are certain. 2. In risky situations, every decision can have several consequences, the probability of each of these consequences is known. 3. In uncertain situations, each decision can have several consequences, the probability is not known. Our aim in this article is to show how decision theory can usefully be mobilized to meet the needs of physicians. The decision theory can make decisions more transparent: first, by clarifying the data systematically considered the problem and secondly by asking a few basic principles should guide the choice. Once the problem and clarified the decision theory provides operational tools to represent the available information and determine patient preferences, and thus assist the patient and doctor in their choices.

Keywords: decision making, medicine, treatment strategies, patient

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Authors: Richard Roberts, Anna Kravtcova

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Introduction: The realisation that personality can change over the course of a lifetime has led to a new companion model to the Big Five, the behavioural, emotional, and social skills approach (BESSA). BESSA hypothesizes that this set of skills represents how the individual is thinking, feeling, and behaving when the situation calls for it, as opposed to traits, which represent how someone tends to think, feel, and behave averaged across situations. The five major skill domains share parallels with the Big Five Factor (BFF) model creativity and innovation (openness), self-management (conscientiousness), social engagement (extraversion), cooperation (agreeableness), and emotional resilience (emotional stability) skills. We point to noteworthy limitations in the current operationalisation of BESSA skills (i.e., via Likert-type items) and offer up a different measurement approach: forced choice. Method: In this forced-choice paradigm, individuals were given three skill items (e.g., managing my time) and asked to select one response they believed they were “worst at” and “best at”. The Thurstonian IRT models allow these to be placed on a normative scale. Two multivariate studies (N = 1178) were conducted with a 22-item forced-choice version of the BESSA, a published measure of the BFF, and various criteria. Findings: Confirmatory factor analysis of the forced-choice assessment showed acceptable model fit (RMSEA<0.06), while reliability estimates were reasonable (around 0.70 for each construct). Convergent validity evidence was as predicted (correlations between 0.40 and 0.60 for corresponding BFF and BESSA constructs). Notable was the extent the forced-choice BESSA assessment improved upon test-criterion relationships over and above the BFF. For example, typical regression models find BFF personality accounting for 25% of the variance in life satisfaction scores; both studies showed incremental gains over the BFF exceeding 6% (i.e., BFF and BESSA together accounted for over 31% of the variance in both studies). Discussion: Forced-choice measurement models offer up the promise of creating equated test forms that may unequivocally measure skill gains and are less prone to fakability and reference bias effects. Implications for practitioners are discussed, especially those interested in selection, succession planning, and training and development. We also discuss how the forced choice method can be applied to other constructs like emotional immunity, cross-cultural competence, and self-estimates of cognitive ability.

Keywords: Big Five, forced-choice method, BFF, methods of measurements

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Authors: Ben Hadj Hassen Sameh, Gaillard Corentin, Andrew Parker, Kristine Krug

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Perceptual decisions about sequences of sensory stimuli often show serial dependence. The behavioural choice on one trial is often affected by the choice on previous trials. We investigated whether the neuronal signals in extrastriate visual area V5/MT on preceding trials might influence choice on the current trial and thereby reveal the neuronal mechanisms of sequential choice effects. We analysed data from 30 single neurons recorded from V5/MT in three Rhesus monkeys making sequential choices about the direction of rotation of a three-dimensional cylinder. We focused exclusively on the responses of neurons that showed significant choice-related firing (mean choice probability =0.73) while the monkey viewed perceptually ambiguous stimuli. Application of a wavelet transform to the choice-related firing revealed differences in the frequency band of neuronal activity that depended on whether the previous trial resulted in a correct choice for an unambiguous stimulus that was in the neuron’s preferred direction (low alpha and high beta and gamma) or non-preferred direction (high alpha and low beta and gamma). To probe this in further detail, we applied a regularized linear decoder to predict the choice for an ambiguous trial by referencing the neuronal activity of the preceding unambiguous trial. Neuronal activity on a previous trial provided a significant prediction of the current choice (61% correc, 95%Cl~52%t), even when limiting analysis to preceding trials that were correct and rewarded. These findings provide a potential neuronal signature of sequential choice effects in the primate visual cortex.

Keywords: perception, decision making, attention, decoding, visual system

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Authors: Pauline E. Ngo-Henha

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Existing turnover intention theories are reviewed in this paper. This review was conducted with the help of the search keyword “turnover intention theories” in Google Scholar during the month of July 2017. These theories include: The Theory of Organizational Equilibrium (TOE), Social Exchange Theory, Job Embeddedness Theory, Herzberg’s Two-Factor Theory, the Resource-Based View, Equity Theory, Human Capital Theory, and the Expectancy Theory. One of the limitations of this review paper is that data were only collected from Google Scholar where many papers were sometimes not freely accessible. However, this paper attempts to contribute to the research in clarifying the distinction between theories and models in the context of turnover intention.

Keywords: Literature Review, Theory, Turnover, Turnover intention

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Authors: Flaurence Benjamain, Michel Casperance

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We present in this paper, first, a comparative study of three mathematical theories to achieve the fusion of information sources. This study aims to identify the characteristics inherent in theories of possibilities, belief functions (DST) and plausible and paradoxical reasoning to establish a strategy of choice that allows us to adopt the most appropriate theory to solve a problem of fusion in order, taking into account the acquired information and imperfections that accompany them. Using the new theory of plausible and paradoxical reasoning, also called Dezert-Smarandache Theory (DSmT), to fuse information multi-sources needs, at first step, the generation of the composites events witch is, in general, difficult. Thus, we present in this paper a new approach to construct pertinent paradoxical classes based on gray levels histograms, which also allows to reduce the cardinality of the hyper-powerset. Secondly, we developed a new technique for order and coding generalized focal elements. This method is exploited, in particular, to calculate the cardinality of Dezert and Smarandache. Then, we give an experimentation of classification of a remote sensing image that illustrates the given methods and we compared the result obtained by the DSmT with that resulting from the use of the DST and theory of possibilities.

Keywords: segmentation, image, approach, vision computing

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Authors: Saied Farham-Nia, Alireza Ghaffari-Hadigheh

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Game theory is a mathematical tool to study the behaviors of a rational and strategic decision-makers, that analyze existing equilibrium in interest conflict situation and provides an appropriate mechanisms for cooperation between two or more player. Game theory is applicable for any strategic and interest conflict situation in politics, management and economics, sociology and etc. Real worlds’ decisions are usually made in the state of indeterminacy and the players often are lack of the information about the other players’ payoffs or even his own, which leads to the games in uncertain environments. When historical data for decision parameters distribution estimation is unavailable, we may have no choice but to use expertise belief degree, which represents the strength with that we believe the event will happen. To deal with belief degrees, we have use uncertainty theory which is introduced and developed by Liu based on normality, duality, subadditivity and product axioms to modeling personal belief degree. As we know, the personal belief degree heavily depends on the personal knowledge concerning the event and when personal knowledge changes, cause changes in the belief degree too. Uncertainty theory not only theoretically is self-consistent but also is the best among other theories for modeling belief degree on practical problem. In this attempt, we primarily reintroduced Expected Utility Function in uncertainty environment according to uncertainty theory axioms to extract payoffs. Then, we employed Nash Equilibrium to investigate the solutions. For more practical issues, Stackelberg leader-follower Game and Bertrand Game, as a benchmark models are discussed. Compared to existing articles in the similar topics, the game models and solution concepts introduced in this article can be a framework for problems in an uncertain competitive situation based on experienced expert’s belief degree.

Keywords: game theory, uncertainty theory, belief degree, uncertain expected value, Nash equilibrium

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Authors: K. D. Mroczek

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In the study presented institutional context is discussed in terms of companies’ entry mode choice. In contrary to many previous analyses, instead of using one or two aggregated variables, a set of eleven determinants is used to establish equity and non-equity internationalization friendly conditions. Based on secondary data, 140 countries are analysed and grouped into clusters revealing similar framework. The range of the economies explored is wide as it covers all regions distinguished by The World Bank. The results can prove a useful alternative for operationalization of institutional variables in further research concerning entry modes or strategic management in international markets.

Keywords: clustering, entry mode choice, institutional environment, transaction costs

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Authors: Yue Huang, Hongcheng Gan

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The new urbanization pattern has led to a rapid growth in demand for short-distance intercity travel, and the emergence of new travel modes has also increased the variety of intercity travel options. In previous studies on intercity travel mode choice behavior, the impact of functional amenities of travel mode and travelers’ long-term personality characteristics has rarely been considered, and empirical results have typically been calibrated using revealed preference (RP) or stated preference (SP) data. This study designed a questionnaire that combines the RP and SP experiment from the perspective of a trip chain combining inner-city and intercity mobility, with consideration for the actual condition of the Huainan-Hefei traffic corridor. On the basis of RP/SP fusion data, a hybrid choice model considering both random taste heterogeneity and psychological characteristics was established to investigate travelers’ mode choice behavior for traditional train, high-speed rail, intercity bus, private car, and intercity online car-hailing. The findings show that intercity time and cost exert the greatest influence on mode choice, with significant heterogeneity across the population. Although inner-city cost does not demonstrate a significant influence, inner-city time plays an important role. Service attributes of travel mode, such as catering and hygiene services, as well as free wireless network supply, only play a minor role in mode selection. Finally, our study demonstrates that safety-seeking tendency, hedonism, and introversion all have differential and significant effects on intercity travel mode choice.

Keywords: intercity travel mode choice, stated preference survey, hybrid choice model, RP/SP fusion data, psychological latent variable, heterogeneity

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Authors: Jamie A. Prowse Turner, Jamie I. D. Campbell, Valerie A. Thompson

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The objective of the current research was to use a dual-process theory framework to explain these age-related differences in reasoning. Seventy-two older (M = 80.0 years) and 72 younger (M = 24.6 years) adults were given a variety of reasoning tests (i.e., a syllogistic task, base rate task, the Cognitive Reflection Test, and a perspective manipulation), as well as independent tests of capacity (working memory, processing speed, and inhibition), thinking styles, and metacognitive ability, to account for these age-related differences. It was revealed that age-related differences were limited to problems that required Type 2 processing and were related to differences in cognitive capacity, individual difference factors, and strategy choice. Furthermore, older adults’ performance can be improved by reasoning from another’s’ perspective and cannot, at this time, be explained by metacognitive differences between young and older adults. All of these findings fit well within a dual-process theory of reasoning, which provides an integrative framework accounting for previous findings and the findings presented in the current manuscript.

Keywords: aging, dual-process theory, performance, reasoning ability

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Authors: M. Shoukath Ali, Rajendra Prasad Singh

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Game Theory approaches and their application in improving the performance of Wireless Sensor Networks (WSNs) are discussed in this paper. The mathematical modeling and analysis of WSNs may have low success rate due to the complexity of topology, modeling, link quality, etc. However, Game Theory is a field, which can efficiently use to analyze the WSNs. Game Theory is related to applied mathematics that describes and analyzes interactive decision situations. Game theory has the ability to model independent, individual decision makers whose actions affect the surrounding decision makers. The outcome of complex interactions among rational entities can be predicted by a set of analytical tools. However, the rationality demands a stringent observance to a strategy based on measured of perceived results. Researchers are adopting game theory approaches to model and analyze leading wireless communication networking issues, which includes QoS, power control, resource sharing, etc.

Keywords: wireless sensor network, game theory, cooperative game theory, non-cooperative game theory

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Authors: Yining Yu, Bingjie Li, Miaolei Jia, Lei Wang

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Ambient color temperature is one of the most ubiquitous factors in retailing. However, there is limited research regarding the effect of cold versus warm ambient color on consumers’ food consumption. This research investigates an unexplored lay belief named the “cold ambient color = healthy” intuition and its impact on food choice. We demonstrate that consumers have built the “cold ambient color = healthy” intuition, such that they infer that a restaurant with a cold-colored ambiance is more likely to sell healthy food than a warm-colored restaurant. This deep-seated intuition also guides consumers’ food choices. We find that using a cold (vs. warm) ambient color increases the choice of healthy food, which offers insights into healthy diet promotion for retailers and policymakers. Theoretically, our work contributes to the literature on color psychology, sensory marketing, and food consumption.

Keywords: ambient color temperature, cold ambient color, food choice, consumer wellbeing

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Authors: Din Eak Arathai

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The purpose of this research report is to investigate the language choice and use among the young generation of Malaysian Thais community. Besides that, it aims to investigate if there is a difference in language choice across the different domains. It will also examine if there has been a language shift from Thai to other languages by the young generation of Thai community in Malaysia. First the study focuses on the proficiency of Thai and other languages used by hundred (100) respondents belonging to young generation of Malaysian Thais aged range from 18-35. Next, language use and choice will be presented with a focus on the domains of family, friendship, entertainment and social. Finally, based on the findings and data collected, we will be able to see if language shift from Thai to other languages has occurred among the young Thai generation in Malaysia. The instrument used in this study was a 30-item questionnaire and the findings of the data analysis were presented in the form of frequency counts and percentages. The findings found that Thai language remains the most preferred language of choice among young Malaysian Thais but usage of other languages, such as Malay, English and Mandarin has increased and begun to influence the language choice of young Malaysian Thais and their proficiency of their mother tongue.In all the domains studied, Thai is almost exclusively the preferred language used when communicating with family. Malay is the most preferred language in communicating with friends while English is the most preferred language when communicating with colleagues. With regards to social and entertainment activities, young Malaysian Thais show great affinity for entertainment in the Thai language. In conclusion, the result of the study showed the beginning of young Malaysian Thais shifting to other languages, especially English and Malay through their daily choices when communicating with friends and family and especially through their language preferences in entertainment.

Keywords: language choice, language use, language shift, language maintenance, young Malaysian Thais, code switching, code mixing

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Authors: Rebecca Hafner, David Elmes, Daniel Read

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The current research applies decision-making theory to the problem of increasing uptake of energy efficient technologies in the market place, where uptake is currently slower than one might predict following rational choice models. We apply the alignable/non-alignable features effect and explore the impact of varying information structure on the consumers’ preference for standard versus energy efficient technologies. In two studies we present participants with a choice between similar (boiler vs. boiler) vs. dissimilar (boiler vs. heat pump) technologies, described by a list of alignable and non-alignable attributes. In study One there is a preference for alignability when options are similar; an effect mediated by an increased tendency to infer missing information is the same. No effects of alignability on preference are found when options differ. One explanation for this split-shift in attentional focus is a change in construal levels potentially induced by the added consideration of environmental concern. Study two was designed to explore the interplay between alignability and construal level in greater detail. We manipulated construal level via a thought prime task prior to taking part in the same heating systems choice task, and find that there is a general preference for non-alignability, regardless of option type. We draw theoretical and applied implications for the type of information structure best suited for the promotion of energy efficient technologies.

Keywords: alignability effects, decision making, energy-efficient technologies, sustainable behaviour change

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Authors: Gultekin Gurcay

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It is known that the most crucial influence of the psychological, social and emotional factors that affect any human behavior is to corrupt the rational decision making mechanism of the individuals and cause them to display irrational behaviors. In this regard, the social context of human beings influences the rationality of our decisions, and people tend to display different behaviors when they were alone compared to when they were surrounded by others. At this point, the interaction and interdependence of the behavioral finance and economics with the area of social psychology comes, where intentions and the behaviors of the individuals are being analyzed in the actual or implied presence of others comes into prominence. Within the context of this study, the prevalent theories of behavioral finance, which are The Prospect Theory, The Utility Theory Given Uncertainty and the Five Axioms of Choice under Uncertainty, Veblen’s Hidden Utility Theory, and the concept of ‘Overreaction’ has been examined and demonstrated; and the meaning, existence and validity of these theories together with the social context has been assessed. Finally, in this study the behavior of the individuals in financial crisis situations where the majority of the society is being affected from the same negative conditions at the same time has been analyzed, by taking into account how individual behavior will change according to the presence of the others.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: Rubén Manrique, Delio Balcázar, José Parrado, Sebastián Rodríguez

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Hand in hand with the evolution of technology, education systems have moved to virtual environments to provide increased coverage and facilitate the access to education. However, measuring student performance in virtual environments presents significant challenges to ensure students are acquiring the expected skills. In this study, the confidence and performance of engineering students in virtual environments is analyzed through different evaluation strategies. The effect of the assessment strategy in student confidence is identified using educational data mining techniques. Four assessment strategies were used. First, a conventional multiple choice test; second, a multiple choice test with feedback; third, a multiple choice test with a second chance; and fourth; a multiple choice test with feedback and second chance. Our results show that applying testing with online feedback strategies can influence positively student confidence.

Keywords: assessment strategies, educational data mining, student performance, student confidence

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Authors: Abhijith Asok

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This paper presents a generalized approach for the simple linear data transformation, Y=bX, through an integration of multidimensional coordinate geometry, vector space theory and polygonal geometry. The scaling is performed by adding an additional ’Dummy Dimension’ to the n-dimensional data, which helps plot two dimensional component-wise straight lines on pairs of dimensions. The end result is a set of scaled extensions of observations in any of the 2n spatial divisions, where n is the total number of applicable dimensions/dataset variables, created by shifting the n-dimensional plane along the ’Dummy Axis’. The derived scaling factor was found to be dependent on the coordinates of the common point of origin for diverging straight lines and the plane of extension, chosen on and perpendicular to the ’Dummy Axis’, respectively. This result indicates the geometrical interpretation of a linear data transformation and hence, opportunities for a more informed choice of the factor ’b’, based on a better choice of these coordinate values. The paper follows on to identify the effect of this transformation on certain popular distance metrics, wherein for many, the distance metric retained the same scaling factor as that of the features.

Keywords: data transformation, dummy dimension, linear transformation, scaling

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Authors: Min Hae Song, Jooyong Park

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Even though assessment using information and communication technology will most likely lead the future of educational assessment, there is little research on this topic. Computerized assessment will not only cut costs but also measure students' performance in ways not possible before. In this context, this study introduces a tool which can overcome the problems of multiple choice tests. Multiple-choice tests (MC) are efficient in automatic grading, however structural problems of multiple-choice tests allow students to find the correct answer from options even though they do not know the answer. A computerized modified multiple-choice testing system (CMMT) was developed using the interactivity of computers, that presents questions first, and options later for a short time when the student requests for them. This study was conducted to find out whether penalizing for wrong answers in CMMT could lower random guessing. In this study, we checked whether students knew the answers by having them respond to the short-answer tests before choosing the given options in CMMT or MC format. Ninety-four students were tested with the directions that they will be penalized for wrong answers, but not for no response. There were 4 experimental conditions: two conditions of high or low percentage of penalizing, each in traditional multiple-choice or CMMT format. In the low penalty condition, the penalty rate was the probability of getting the correct answer by random guessing. In the high penalty condition, students were penalized at twice the percentage of the low penalty condition. The results showed that the number of no response was significantly higher for the CMMT format and the number of random guesses was significantly lower for the CMMT format. There were no significant between the two penalty conditions. This result may be due to the fact that the actual score difference between the two conditions was too small. In the discussion, the possibility of applying CMMT format tests while penalizing wrong answers in actual testing settings was addressed.

Keywords: computerized modified multiple choice test format, multiple-choice test format, penalizing, test format

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Authors: Dana Pugach, Michal Tamir

Abstract:

Most criminal cases end with a plea agreement, an issue whose many aspects have been discussed extensively in legal literature. One important feature, however, has gained little notice, and that is crime victims’ place in plea agreements following the federal Crime Victims Rights Act of 2004. This law has provided victims some meaningful and potentially revolutionary rights, including the right to be heard in the proceeding and a right to appeal against a decision made while ignoring the victim’s rights. While victims’ rights literature has always emphasized the importance of such right, references to this provision in the general literature about plea agreements are sparse, if existing at all. Furthermore, there are a few cases only mentioning this right. This article purports to bridge between these two bodies of legal thinking – the vast literature concerning plea agreements and victims’ rights research– by using behavioral economics. The article will, firstly, trace the possible structural reasons for the failure of this right to be materialized. Relevant incentives of all actors involved will be identified as well as their inherent consequential processes that lead to the victims’ rights malfunction. Secondly, the article will use nudge theory in order to suggest solutions that will enhance incentives for the repeat players in the system (prosecution, judges, defense attorneys) and lead to the strengthening of weaker group’s interests – the crime victims. Behavioral psychology literature recognizes that the framework in which an individual confronts a decision can significantly influence his decision. Richard Thaler and Cass Sunstein developed the idea of ‘choice architecture’ - ‘the context in which people make decisions’ - which can be manipulated to make particular decisions more likely. Choice architectures can be changed by adjusting ‘nudges,’ influential factors that help shape human behavior, without negating their free choice. The nudges require decision makers to make choices instead of providing a familiar default option. In accordance with this theory, we suggest a rule, whereby a judge should inquire the victim’s view prior to accepting the plea. This suggestion leaves the judge’s discretion intact; while at the same time nudges her not to go directly to the default decision, i.e. automatically accepting the plea. Creating nudges that force actors to make choices is particularly significant when an actor intends to deviate from routine behaviors but experiences significant time constraints, as in the case of judges and plea bargains. The article finally recognizes some far reaching possible results of the suggestion. These include meaningful changes to the earlier stages of criminal process even before reaching court, in line with the current criticism of the plea agreements machinery.

Keywords: plea agreements, victims' rights, nudge theory, criminal justice

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Authors: Nasser Y. Mahamoud, Pierre Dehombreux, Hassan E. Robleh

Abstract:

Industrial companies may be confronted with questions about their choice of maintenance policy. This choice must be guided by several numbers of decision criteria or objectives related to their production or service activities but also to their level of development and their investment prospects. A decision-support methodology to choose a maintenance policy (corrective, systematic or conditional preventive, predictive, opportunistic or not) is proposed to facilitate this choice using the main categories of the most important decision criteria. The different steps of this methodology are illustrated using theoretical case: identification of the different maintenance alternatives, determining the structure of the most important categories of the decision criteria, assessing the different maintenance policies on to the criteria by using an ordinal preference relation, and finally ranking the different maintenance policies.

Keywords: maintenance policy, decision criteria, decision-making process, AHP

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Authors: Renata Masarova, Bohuslava Juhasova, Martin Juhas, Zuzana Sutova

Abstract:

In dynamic system theory a mathematical model is often used to describe their properties. In order to find a transfer matrix of a dynamic system we need to calculate an inverse matrix. The paper contains the fusion of the classical theory and the procedures used in the theory of automated control for calculating the inverse matrix. The final part of the paper models the given problem by the Matlab.

Keywords: dynamic system, transfer matrix, inverse matrix, modeling

Procedia PDF Downloads 498