Search results for: decision Making

Authors: Diego Rodrigues, Marcelo Lisboa, Elismar Batista, Marcos Dias

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Based on data on child labor, this work arises questions about how to understand and locate the factors that make up the child labor rates, and which properties are important to analyze these cases. Using data mining techniques to discover valid patterns on Brazilian social databases were evaluated data of child labor in the State of Tocantins (located north of Brazil with a territory of 277000 km2 and comprises 139 counties). This work aims to detect factors that are deterministic for the practice of child labor and their relationships with financial indicators, educational, regional and social, generating information that is not explicit in the government database, thus enabling better monitoring and updating policies for this purpose.

Keywords: social data, government decision making, association of social data, data mining

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Authors: Shital Jhunjhunwala, Shweta Saraf

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Research Question: The study, based on a survey, empirically tests the impact of the board’s engagement in the decision-making process on firm outcomes. It also examines the moderating effect of board leadership and board independence on the relationship. Research Findings: Boards’ engagement in the decision-making process is found to be vital for firm performance, wherein effective monitoring by the board outperforms their strategic guidance role in achieving desired outcomes. The separation of CEO and Chairman positively moderates the board’s engagement in protecting stakeholders’ interests, but lack of independence and passive behaviour of independent directors raises concern on the efficacy of independent directors. Theoretical Implications: The study provides the framework for process-oriented corporate governance research, where investigation of boards’ behaviour inside the boardroom develops a deeper understanding of board processes. Practitioner Implications: The study highlights the necessity of developing boards’ focus in a company on monitoring managerial actions. It suggests the need to separate the position of CEO and Chairman for addressing the interest of all stakeholders. It recommends policymakers review the existing mandate on board independence and create alternate monitoring mechanisms for addressing agency conflict.

Keywords: board, decision-making process, engagement, independence, leadership, innovation, stakeholders, firm performance, qualitative, India

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Authors: Peter Olasupo Ogunjuyigbe, Sarafa Shittu

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This paper emphasizes the relevance of conjugal relationship and spousal communication towards enhancing men’s involvement in contraceptive use among the Yorubas of South Western Nigeria. An understanding of males influence and the role they play in reproductive decision making can throw better light on mechanisms through which egalitarianness of husband/wife decision making influences contraceptive use. The objective of this study was to investigate how close conjugal relationships can be a good indicator of joint decision making among couples using data derived from a survey conducted in three states of South Western Nigeria. The study sample consisted of five hundred and twenty one (521) male respondents aged 15-59 years and five hundred and forty seven (547) female respondents aged 15-49 years. The study used both quantitative and qualitative approached to elicit information from the respondents. In order that the study would be truly representative of the towns, each of the study locations in the capital cities was divided into four strata: The traditional area, the migrant area, the mixed area (i.e. traditional and migrant), and the elite area. In the rural areas, selection of the respondents was by simple random sampling technique. However, the random selection was made in such a way that all the different parts of the locations were represented. Generally, the data collected were analysed at univariate, bivariate, and multivariate levels. Logistic regression models were employed to examine the interrelationships between male reproductive behaviour, conjugal relationship and contraceptive use. The study indicates that current use of contraceptive is high among this major ethnic group in Nigeria because of the improved level of communication among couples. The problem, however, is that men still have lower exposure rate when it comes to question of family planning information, education and counseling. This has serious implications on fertility regulation in Nigeria.

Keywords: behavior, conjugal, communication, counseling, spouse

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Authors: Yaojun Wang, Yaoqing Wang

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Stock selection is an important decision-making problem. Many machine learning and data mining technologies are employed to build automatic stock-selection system. A profitable stock-selection system should consider the stock’s investment value and the market timing. In this paper, we present a hybrid system including both engage for stock selection. This system uses a case-based reasoning (CBR) model to execute the stock classification, uses a decision-tree model to help with market timing and stock selection. The experiments show that the performance of this hybrid system is better than that of other techniques regarding to the classification accuracy, the average return and the Sharpe ratio.

Keywords: case-based reasoning, decision tree, stock selection, machine learning

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Authors: Michael Gidey Gebru

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Most DEA models operate in a static environment with input and output parameters that are chosen by deterministic data. However, due to ambiguity brought on shifting market conditions, input and output data are not always precisely gathered in real-world scenarios. Fuzzy numbers can be used to address this kind of ambiguity in input and output data. Therefore, this work aims to expand crisp DEA into DEA with fuzzy environment. In this study, the input and output data are regarded as fuzzy triangular numbers. Then, the DEA model with fuzzy environment is solved using a multi-objective method to gauge the Decision Making Units’ efficiency. Finally, the developed DEA model is illustrated with an application on real data 50 educational institutions.

Keywords: efficiency, DEA, fuzzy, decision making units, higher education institutions

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Authors: Sana Maidullah, Ankita Sharma

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The present study takes naturalistic decision-making approach to examine the role of personality in information processing in consumer decision making. In the technological era, most of the information comes in form of HTML or similar language via the internet; processing of this situation could be ambiguous, laborious and painful. The present study explores the role of impulsivity in creating an extreme effect on consumer decision making. Specifically, the study explores the role of impulsivity in extreme effect, i.e., extremeness avoidance (compromise effect) and extremeness seeking; the role of demographic variables, i.e. age and gender, in the relation between impulsivity and extreme effect. The study was conducted with the help of a questionnaire and two experiments. The experiment was designed in the form of two shopping websites with two product types: Hotel choice and Mobile choice. Both experimental interfaces were created with the Xampp software, the frontend of interfaces was HTML CSS JAVASCRIPT and backend was PHP MySQL. The mobile experiment was designed to measure the extreme effect and hotel experiment was designed to measure extreme effect with alignability of attributes. To observe the possibilities of the combined effect of individual difference and context effects, the manipulation of price, a number of alignable attributes and number of the non-alignable attributes is done. The study was conducted on 100 undergraduate and post-graduate engineering students within the age range of 18-35. The familiarity and level of use of internet and shopping website were assessed and controlled in the analysis. The analysis was done by using a t-test, ANOVA and regression analysis. The results indicated that the impulsivity leads to compromise effect and at the same time it also increases the relationship between alignability of attribute among choices and the compromise effect. The demographic variables were found to play a significant role in the relationship. The subcomponents of impulsivity were significantly influencing compromise effect, but the cognitive impulsivity was significant for women, and motor impulsivity was significant for males only. The impulsivity was significantly positively predicted by age, though there were no significant gender differences in impulsivity. The results clearly indicate the importance of individual factors in decision making. The present study, with precise and direct results, provides a significant suggestion for market analyst and business providers.

Keywords: impulsivity, extreme effect, personality, alignability, consumer decision making

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Authors: Sasan Aryaee, Mahdi Ravanshadnia

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Naturally, any activity is associated with risk, and humans have understood this concept from very long times ago and seek to identify its factors and sources. On the one hand, proper risk management can cause problems such as delays and unforeseen costs in the development projects, temporary or permanent loss of services, getting lost or information theft, complexity and limitations in processes, unreliable information caused by rework, holes in the systems and many such problems. In the present study, a model has been presented to rank the environmental risks of oil and gas projects. The statistical population of the study consists of all executives active in the oil and gas fields, that the statistical sample is selected randomly. In the framework of the proposed method, environmental risks of oil and gas projects were first extracted, then a questionnaire based on these indicators was designed based on Likert scale and distributed among the statistical sample. After assessing the validity and reliability of the questionnaire, environmental risks of oil and gas projects were ranked using the VIKOR method of multiple-criteria decision-making. The results showed that the best options for HSE planning of oil and gas projects that caused the reduction of risks and personal injury and casualties and less than other options is costly for the project and it will add less time to the duration of implementing the project is the entering of dye to the environment when painting the generator pond and the presence of the rigger near the crane.

Keywords: ranking, multi-criteria decision making, oil and gas projects, HSEmanagement, environmental risks

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Authors: Jolly Puri, Shiv Prasad Yadav

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Multi-component data envelopment analysis (MC-DEA) is a popular technique for measuring aggregate performance of the decision making units (DMUs) along with their components. However, the conventional MC-DEA is limited to crisp input and output data which may not always be available in exact form. In real life problems, data may be imprecise or fuzzy. Therefore, in this paper, we propose (i) a fuzzy MC-DEA (FMC-DEA) model in which shared and undesirable fuzzy resources are incorporated, (ii) the proposed FMC-DEA model is transformed into a pair of crisp models using cut approach, (iii) fuzzy aggregate performance of a DMU and fuzzy efficiencies of components are defined to be fuzzy numbers, and (iv) a numerical example is illustrated to validate the proposed approach.

Keywords: multi-component DEA, fuzzy multi-component DEA, fuzzy resources, decision making units (DMUs)

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Authors: Sinchul Back, Sun Ho Kim, Jennifer LaPrade, Ilju Seong

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Due to the advantage of using the Internet, cybercriminals can reach target(s) without border controls. Prior research on criminology and crime science has largely been void of empirical studies on journey-to-cybercrime and crime opportunity. Thus, the purpose of this study is to understand more about cyber offender spatial decision making associated with crime opportunity factors (i.e., co-offending, offender-stranger). Data utilized in this study were derived from 306 U.S. Federal court cases of cybercrime. The findings of this study indicated that there was a positive relationship between co-offending and journey-to-cybercrime, whereas there was no link between offender-stranger and journey-to-cybercrime. Also, the results showed that there was no relationship between cybercriminal sex, age, and journey-to-cybercrime. The policy implications and limitations of this study are discussed.

Keywords: co-offending, crime opportunity, journey-to-cybercrime, offender-stranger

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Authors: Nikhil Kewalkrishna Mehta

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In the past researchers have questioned the effectiveness of ethics training in higher education. Also, there are observations that support the view that ethical behaviour (range of actions)/ethical decision making models used in the past make use of vignettes to explain ethical behaviour. The understanding remains in the perspective that these vignettes play a limited role in determining individual intentions and not actions. Some authors have also agreed that there are possibilities of differences in one’s intentions and actions. This paper makes an attempt to fill those gaps by evaluating real actions rather than intentions. In a way this study suggests the use of an experiential methodology to explore Berlo’s model of communication as an action along with orchestration of various principles. To this endeavor, an attempt was made to use conversational analysis in the pursuance of evaluating ethical decision making behaviour among students and middle level managers. The process was repeated six times with the set of an average of 15 participants. Similarities have been observed in the behaviour of students and middle level managers that calls for understanding that both the groups of individuals have no cognizance of their actual actions. The deliberations derived out of conversation were taken a step forward for meta-ethical evaluations to portray a clear picture of ethical behaviour among participants. This study provides insights for understanding demonstrated unconscious human behaviour which may fortuitously be termed both ethical and unethical.

Keywords: ethical behaviour, unethical behavior, ethical decision making, intentions and actions, conversational analysis, human actions, sensitivity

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Authors: Laima Zakaraite, Vaidas Morkevicius

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The COVID-19 pandemic brought important and pressing challenges for politicians around the world. Governments, parliaments, and political leaders had to make quick decisions about containment of the pandemic, usually without clear knowledge about the factual spread of the virus, the possible expected speed of spread, and levels of mortality. Opinions of experts were also divided, as some advocated for ‘herd immunity’ without closing down the economy and public life, and others supported the idea of strict lockdown. The debates about measures of pandemic containment were heated and involved strong moral tensions with regard to the possible outcomes. This paper proposes to study the manifestations of moral imagination in the political debates regarding the COVID-19 pandemic. Importantly, moral imagination is associated with twofold abilities of a decision-making actor: the ability to discern the moral aspects embedded within a situation and the ability to envision a range of possibilities alternative solutions to the situation from a moral perspective. The concept was most thoroughly investigated in business management studies. However, its relevance for the study of political decision-making is also rather clear. The results of the study show to what extent politicians are able to discern the wide range of moral issues related to a situation (in this case, consequences of COVID-19 pandemic in a country) and how broad (especially, from a moral perspective) are discussions of the possible solutions proposed for solving the problem (situation). Arguably, political discussions and considerations are broader and affected by a wider and more varied range of actors and ideas compared to decision making in the business management sector. However, the debates and ensuing solutions may also be restricted by ideological maxims and advocacy of special interests. Therefore, empirical study of policy proposals and their debates might reveal the actual breadth of moral imagination in political discussions. For this purpose, we carried out the qualitative study of the parliamentary debates related to the COVID-19 pandemic in Lithuania during the first wave (containment of which was considered very successful) and at the beginning and consequent acceleration of the second wave (when the spread of the virus became uncontrollable).

Keywords: decision making, moral imagination, political debates, political decision

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Authors: M. Yaqoob, C. S. O’Neill, S. Faraj, C. L. O’Neill

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This paper presents the preliminary findings from a study exploring nurse’s contributions to end of life decisions and to the care of dying patients in ICU units in the Kingdom of Bahrain. The process of dying is complex as medical clinicians are frequently unable to say with certainty when death will occur. It is generally accepted that end of life care begins when it is possible to know that death is imminent. Nurses do not make medical treatment decisions when caring for a dying patient. There are, however, many other types of decisions made when a patient is approaching the end of life and nurses are either formally or informally part of these decision making processes. This study explored nurses care practices at the end of life, in two ICU units in large hospitals in the Kingdom of Bahrain. The research design was a grounded theory approach. Ten nurses participated, six of whom were Bahraini nationals and four were Indian. A core category death avoidance talk was supported by three major subcategories, degrees of involvement in decision making; signalling and creating an awareness of death; care shifting from dying patients to family. Despite nurses asserting that they carried out the orders of doctors and had no role in decision making processes at end of life this study showed that there were degrees of nurse involvement. Doctors frequently discussed the patient’s clinical condition with nurses and also sought information regarding the family. Information about the family was of particular relevance if the doctor was considering a DNR order, which the nurses equated with dying. Families were not always informed when a DNR decision was made. When families were not informed the nurses engaged in sophisticated rituals signalling and creating awareness to family members that the death of their loved one was near. This process also involved a subtle shifting of care from the dying patient to the family. This seminar paper will focus particularly on how nurses signal and create an awareness of death in an ICU setting. The findings suggest that despite the avoidance of death talk in the ICU nurses indirectly convey and create an awareness that death is near to family members.

Keywords: decision making, dying patients, end of life, intensive care unit

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Authors: Ahlem Dhahri, Waleed Omri, Audrey Becuwe, Abdelwahed Omri

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In industrial processes, decision-making ranges across different scales, from process control to supply chain management. The purchasing decision-making process in the supply chain is presently gaining more attention as a critical contributor to the company's strategic success. Given the scarcity of thorough summaries in the prior studies, this bibliometric analysis aims to adopt a meticulous approach to achieve quantitative knowledge on the constantly evolving subject of purchasing decision-making in supply chain management. Through bibliometric analysis, we examine a sample of 358 peer-reviewed articles from the Scopus database. VOSviewer and Gephi software were employed to analyze, combine, and visualize the data. Data analytic techniques, including citation network, page-rank analysis, co-citation, and publication trends, have been used to identify influential works and outline the discipline's intellectual structure. The outcomes of this descriptive analysis highlight the most prominent articles, authors, journals, and countries based on their citations and publications. The findings from the research illustrate an increase in the number of publications, exhibiting a slightly growing trend in this field. Co-citation analysis coupled with content analysis of the most cited articles identified five research themes mentioned as follows integrating sustainability into the supplier selection process, supplier selection under disruption risks assessment and mitigation strategies, Fuzzy MCDM approaches for supplier evaluation and selection, purchasing decision in vendor problems, decision-making techniques in supplier selection and order lot sizing problems. With the help of a graphic timeline, this exhaustive map of the field illustrates a visual representation of the evolution of publications that demonstrate a gradual shift from research interest in vendor selection problems to integrating sustainability in the supplier selection process. These clusters offer insights into a wide variety of purchasing methods and conceptual frameworks that have emerged; however, they have not been validated empirically. The findings suggest that future research would emerge with a greater depth of practical and empirical analysis to enrich the theories. These outcomes provide a powerful road map for further study in this area.

Keywords: bibliometric analysis, citation analysis, co-citation, Gephi, network analysis, purchasing, SCM, VOSviewer

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Authors: H. Moalla, A. Frikha

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Multi-criteria decision aid methods consider decision problems where numerous alternatives are evaluated on several criteria. These methods are used to deal with perfect information. However, in practice, it is obvious that this information requirement is too much strict. In fact, the imperfect data provided by more or less reliable decision makers usually affect decision results since any decision is closely linked to the quality and availability of information. In this paper, a PROMETHEE-BELIEF approach is proposed to help multi-criteria decisions based on incomplete information. This approach solves problems with incomplete decision matrix and unknown weights within PROMETHEE method. On the base of belief function theory, our approach first determines the distributions of belief masses based on PROMETHEE’s net flows and then calculates weights. Subsequently, it aggregates the distribution masses associated to each criterion using Murphy’s modified combination rule in order to infer a global belief structure. The final action ranking is obtained via pignistic probability transformation. A case study of real-world application concerning the location of a waste treatment center from healthcare activities with infectious risk in the center of Tunisia is studied to illustrate the detailed process of the BELIEF-PROMETHEE approach.

Keywords: belief function theory, incomplete information, multiple criteria analysis, PROMETHEE method

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Authors: Y. de Smet, J. Hubinont

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PROMETHEE and GAIA are well-known Multiple Criteria Decision Aid methods. Given an evaluation table and preference parameters they allow to rank the alternatives, to visualize the problem, to perform sensitivity and robustness analysis, etc. Unfortunately, it is often hard for the Decision Maker (DM) to estimate the precise values of these parameters. Therefore an alternative option is to give ranges of potential values in order to apply Stochastic Multicriteria Acceptability Analysis. This has been recently studied in the context of the SMAA-PROMETHEE method. The aim of this contribution is to propose an SMAA extension of GAIA. We show how this tool can be useful and provide complementary information to SMAA-PROMETHEE. This is illustrated on a pedagogical example.

Keywords: multiple criteria decision making, PROMETHEE, GAIA, SMAA

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Authors: Mai Hoang Minh

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Financial statements (FS) are tools which provide information to users for making business decisions. This article is going to present the survey which clarifies the role of financial statement to Commercial Banks’ loan decisions in Vietnam. Moreover, this also discusses about financial statement’s quality currently, thereby making suggestions for enterprises to enhance the usefulness of accounting information in borrowing activities.

Keywords: usefulness of financial statement, accounting information quality, loan decisions

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Authors: Taksina Bunbut, Kevin Wongleedee

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The purposes of this research were to study factors influencing the decision of international tourists to revisit Bangkok, Thailand. A random 200 samples was collected. Half the sample group was male and the other half was female. A questionnaire was used to collect data and small in-depth interviews were also used to get their opinions about importance of tourist decision making factors. The findings revealed that the majority of respondents rated these factors at medium level of importance. The ranking showed that the first three important factors were a safe place to stay, friendly people, and clean food. The three least important factors were a convenience transportation, clean country, and child friendly. In addition there was no significance difference between male and female in their ratings of the factors of influencing the decision of international tourists to revisit Bangkok, Thailand.

Keywords: factors, international tourists, revisit, Thailand

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Authors: Yongsheng Guo, Xiaoxian Zhu, Mandella Osei-Assibey Bonsu

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This study explores the effects of national culture on consumer behaviour by identifying the characteristics of Chinese consumers’ decision making in Europe. It offers a better understanding of how cultural factors affect consumers’ behaviour, and how consumers make decisions in other nations with different culture. It adopted a grounded theory approach and conducted twenty-four in-depth interviews. Grounded theory models are developed to link the causal conditions, process and consequences. Results reveal that some cultural factors including conservatism, emotionality, acquaintance community, long-term orientation and principles affect Chinese consumers when making purchase decisions in Europe. Most Chinese consumers plan and prepare their expenditure and stay in Europe as cultural learners, and purchase durable products or assets as investment, and share their experiences within a community. This study identified potential problems such as political and social environment, complex procedures, and restrictions. This study found that external factors influence on internal factors and then internal characters determine consumer behaviour. This study proposes that cultural traits developed in convergence evolution through social selection and Chinese consumers persist most characters but adapt some perceptions and actions overtime in other countries. This study suggests that cultural marketing could be adopted by companies to reflect consumers’ preferences. Agencies, shops, and the authorities could take actions to reduce the complexity and restrictions.

Keywords: national culture, consumer behaviour, decision making, cultural marketing

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Authors: Luis Javier Serrano Tamayo

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This research on technology makes a first approach to the selection of an amphibious landing ship with strategic capabilities, through the implementation of a multi-criteria model using Analytical Hierarchical Process (AHP), in which a significant group of alternatives of latest technology has been considered. The variables were grouped at different levels to match design and performance characteristics, which affect the lifecycle as well as the acquisition, maintenance and operational costs. The model yielded an overall measure of effectiveness and an overall measure of cost of each kind of ship that was compared each other inside the model and showed in a Pareto chart. The modeling was developed using the Expert Choice software, based on AHP method.

Keywords: analytic hierarchy process, multi-criteria decision-making, Pareto analysis, Colombian Marine Corps, projection operations, expert choice, amphibious landing ship

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Authors: Fuqiang Wang, Jun Liu, Liyan Cai

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This paper investigates the coordination of the conflicting two-stage low carbon supply chain consisting of upstream and downstream manufacturers. The conflict means that the upstream manufacturer takes action for carbon emissions reduction under carbon trading mechanism while the downstream manufacturer’s production cost rises. It assumes for the Stackelberg game that the upstream manufacturer plays as a leader and the downstream manufacturer does as a follower. Four kinds of the situation of decentralized decision making, centralized decision-making, the production cost sharing contract and the carbon emissions reduction revenue sharing contract under decentralized decision making are considered. The backward induction approach is adopted to solve the game. The results show that the more intense the conflict is, the lower the efficiency of carbon emissions reduction and the higher the retail price is. The optimal investment of the decentralized supply chain under the two contracts is unchanged and still lower than that of the centralized supply chain. Both the production cost sharing contract and the carbon emissions reduction revenue sharing contract cannot coordinate the supply chain, because that the sharing cost or carbon emissions reduction sharing revenue will transfer through the wholesale price mechanism. As a result, it requires more complicated contract forms to coordinate such a supply chain.

Keywords: cap-and-trade mechanism, carbon emissions reduction, conflict, supply chain coordination

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Authors: Sultan Ghaleb Aldaihani

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- The environment in which educational leadership takes place is becoming increasingly complex due to factors like globalization and rapid technological change. - This is creating a "leadership gap" where the complexity of the environment outpaces the ability of leaders to effectively respond. - Educational leadership involves guiding teachers and the broader school system towards improved student learning and achievement. 2. Implications of Artificial Intelligence (AI) in Educational Leadership: - AI has great potential to enhance education, such as through intelligent tutoring systems and automating routine tasks to free up teachers. - AI can also have significant implications for educational leadership by providing better information and data-driven decision-making capabilities. - Computer-adaptive testing can provide detailed, individualized data on student learning that leaders can use for instructional decisions and accountability. 3. Enhancing Decision-Making Processes: - Statistical models and data mining techniques can help identify at-risk students earlier, allowing for targeted interventions. - Probability-based models can diagnose students likely to drop out, enabling proactive support. - These data-driven approaches can make resource allocation and decision-making more effective. 4. Improving Efficiency and Productivity: - AI systems can automate tasks and change processes to improve the efficiency of educational leadership and administration. - Integrating AI can free up leaders to focus more on their role's human, interactive elements.

Keywords: Education, Leadership, Technology, Artificial Intelligence

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Authors: Mai Kaneda, Sarah Feeney

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This study examined the association between adult attachment security and career decision-making self-efficacy (CDMSE) among college students in the United States. Previous studies show that attachment security is associated with levels of CDMSE among college students. Given that a majority of studies examining career development variables have used parental attachment measures, this study adds to understanding of this phenomenon by utilizing a broader measure of attachment. The participants included 269 college students (76% female) between the ages of 19-29. An anonymous survey was distributed online via social media as well as in hard copy format in classrooms. Multiple regression analyses were conducted to determine the relationship between anxious and avoidant attachment and CDMSE. Results revealed anxious attachment was a significant predictor of CDMSE (B = -.13, p = .01), such that greater anxiety in attachment was associated with lower levels of CDMSE. When accounting for anxious attachment, avoidant attachment was no longer significant as a predictor of CDMSE (B = -.12, p = .10). The variance in college CDMSE explained by the model was 7%, F(2,267) = 9.51, p < .001. Results for anxious attachment are consistent with existing literature that finds insecure attachment to be related to lower levels of CDMSE, however the non-significant results for avoidant attachment as a predictor of CDMSE suggest not all types of attachment insecurity are equally related to CDMSE. Future research is needed to explore the nature of the relationship between different dimensions of attachment insecurity and CDMSE.

Keywords: attachment, career decision-making, college students, self-efficacy

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Authors: Vânia Costa, Nuno De Sá Teixeira, Ana C. Santos, Eduardo Santos

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Financial literacy and numeracy have been regarded as paramount for rational household decision making in the increasing complexity of financial markets. However, financial decisions are often made under sub-optimal circumstances, including cognitive overload. The present study aims to clarify how financial literacy and numeracy, taken as relevant expert knowledge for financial decision-making, modulate possible effects of cognitive load. Participants were required to perform a choice between a sure loss or a gambling pertaining a financial investment, either with or without a competing memory task. Two experiments were conducted varying only the content of the competing task. In the first, the financial choice task was made while maintaining on working memory a list of five random letters. In the second, cognitive load was based upon the retention of six random digits. In both experiments, one of the items in the list had to be recalled given its serial position. Outcomes of the first experiment revealed no significant main effect or interactions involving cognitive load manipulation and numeracy and financial literacy skills, strongly suggesting that retaining a list of random letters did not interfere with the cognitive abilities required for financial decision making. Conversely, and in the second experiment, a significant interaction between the competing mnesic task and level of financial literacy (but not numeracy) was found for the frequency of choice of a gambling option. Overall, and in the control condition, both participants with high financial literacy and high numeracy were more prone to choose the gambling option. However, and when under cognitive load, participants with high financial literacy were as likely as their illiterate counterparts to choose the gambling option. This outcome is interpreted as evidence that financial literacy prevents intuitive risk-aversion reasoning only under highly favourable conditions, as is the case when no other task is competing for cognitive resources. In contrast, participants with higher levels of numeracy were consistently more prone to choose the gambling option in both experimental conditions. These results are discussed in the light of the opposition between classical dual-process theories and fuzzy-trace theories for intuitive decision making, suggesting that while some instances of expertise (as numeracy) are prone to support easily accessible gist representations, other expert skills (as financial literacy) depend upon deliberative processes. It is furthermore suggested that this dissociation between types of expert knowledge might depend on the degree to which they are generalizable across disparate settings. Finally, applied implications of the present study are discussed with a focus on how it informs financial regulators and the importance and limits of promoting financial literacy and general numeracy.

Keywords: decision making, cognitive load, financial literacy, numeracy

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Authors: Mohanad Alhabo, Li Zhang, Naveed Nawaz

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Small cell deployment in 5G networks is a promising technology to enhance capacity and coverage. However, unplanned deployment may cause high interference levels and high number of unnecessary handovers, which in turn will result in an increase in the signalling overhead. To guarantee service continuity, minimize unnecessary handovers, and reduce signalling overhead in heterogeneous networks, it is essential to properly model the handover decision problem. In this paper, we model the handover decision according to Multiple Attribute Decision Making (MADM) method, specifically Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS). In this paper, we propose a hybrid TOPSIS method to control the handover in heterogeneous network. The proposed method adopts a hybrid weighting, which is a combination of entropy and standard deviation. A hybrid weighting control parameter is introduced to balance the impact of the standard deviation and entropy weighting on the network selection process and the overall performance. Our proposed method shows better performance, in terms of the number of frequent handovers and the mean user throughput, compared to the existing methods.

Keywords: handover, HetNets, interference, MADM, small cells, TOPSIS, weight

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Authors: Guilherme Ribeiro, Alexandre Oliveira, Antonio Ferreira, Shyam Visweswaran, Gregory Cooper

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Patient-specific models are instance-based learning algorithms that take advantage of the particular features of the patient case at hand to predict an outcome. We introduce two patient-specific algorithms based on decision tree paradigm that use AUC as a metric to select an attribute. We apply the patient specific algorithms to predict outcomes in several datasets, including medical datasets. Compared to the patient-specific decision path (PSDP) entropy-based and CART methods, the AUC-based patient-specific decision path models performed equivalently on area under the ROC curve (AUC). Our results provide support for patient-specific methods being a promising approach for making clinical predictions.

Keywords: approach instance-based, area under the ROC curve, patient-specific decision path, clinical predictions

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Authors: W. J. Strydom, K. Puren

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Place-making is viewed here as an empowering process in which people represent, improve and maintain their spatial (natural or built) environment. With the above-mentioned in mind, place-making is multi-dimensional and include a spatial dimension (including visual properties or the end product/plan), a procedural dimension during which (negotiation/discussion of ideas with all relevant stakeholders in terms of end product/plan) and a psychological dimension (inclusion of intrinsic values and meanings related to a place in the end product/plan). These three represent dimensions of place-making. The purpose of this paper is to explore these dimensions of place-making in a case study of a local community in Ikageng, Potchefstroom, North-West Province, South Africa. This case study represents an inclusive process that strives to empower a local community (forcefully relocated due to Apartheid legislation in South Africa). This case study focussed on the inclusion of participants in the decision-making process regarding their daily environment. By means of focus group discussions and a collaborative design workshop, data is generated and ultimately creates a linkage with the theoretical dimensions of place-making. This paper contributes to the field of spatial planning due to the exploration of the dimensions of place-making and the relevancy of this process on spatial planning (especially in a South African setting).

Keywords: community engagement, place-making, planning theory, spatial planning

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Authors: Ravi Patel, Krishna K. Krishnan

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In global supply chains, appropriate and sustainable suppliers play a vital role in supply chain development and feasibility. In a larger organization with huge number of suppliers, it is necessary to divide suppliers based on their past history of quality and delivery of each product category. Since performance of any organization widely depends on their suppliers, well evaluated selection criteria and decision-making models lead to improved supplier assessment and development. In this paper, SCOR® performance evaluation approach and ISO standards are used to determine selection criteria for better utilization of supplier assessment by using hybrid model of Analytic Hierchchy Problem (AHP) and Fuzzy Techniques for Order Preference by Similarity to Ideal Solution (FTOPSIS). AHP is used to determine the global weightage of criteria which helps TOPSIS to get supplier score by using triangular fuzzy set theory. Both qualitative and quantitative criteria are taken into consideration for the proposed model. In addition, a multi-product and multi-time period model is selected for order allocation. The optimization model integrates multi-objective integer linear programming (MOILP) for order allocation and a hybrid approach for supplier selection. The proposed MOILP model optimizes order allocation based on manufacturing process and product tolerances as per manufacturer’s requirement for quality product. The integrated model and solution approach are tested to find optimized solutions for different scenario. The detailed analysis shows the superiority of proposed model over other solutions which considered individual decision making models.

Keywords: AHP, fuzzy set theory, multi-criteria decision making, multi-objective integer linear programming, TOPSIS

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Authors: Hamid Reza Behnood, Esmaeel Ayati, Tom Brijs, Mohammadali Pirayesh Neghab

Abstract:

Investment projects in road safety planning can benefit from an effectiveness evaluation regarding their expected safety outcomes. The objective of this study is to develop a decision support system (DSS) to support policymakers in taking the right choice in road safety planning based on the efficiency of previously implemented safety measures in a set of regions in Iran. The measures considered for each region in the study include performance indicators about (1) police operations, (2) treated black spots, (3) freeway and highway facility supplies, (4) speed control cameras, (5) emergency medical services, and (6) road lighting projects. To this end, inefficiency measure is calculated, defined by the proportion of fatality rates in relation to the combined measure of road safety performance indicators (i.e., road safety measures) which should be minimized. The relative inefficiency for each region is modeled by the Data Envelopment Analysis (DEA) technique. In a next step, a fuzzy decision-making system is constructed to convert the information obtained from the DEA analysis into a rule-based system that can be used by policy makers to evaluate the expected outcomes of certain alternative investment strategies in road safety.

Keywords: performance indicators, road safety, decision support system, data envelopment analysis, fuzzy reasoning

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Authors: Naser Kazemi Eilaki, Ilona Heldal, Carolyn Ahmer, Bjarne Christian Hagen

Abstract:

Elderly people and people with disabilities are recognized as at-risk groups when it comes to egress and travel from hazard zone to a safe place. One's disability can negatively influence her or his escape time, and this becomes even more important when people from this target group live alone. While earlier studies have frequently addressed quantitative measurements regarding at-risk groups' physical characteristics (e.g., their speed of travel), this paper considers the influence of at-risk groups’ characteristics on their decision and determining better escape routes. Most of evacuation models are based on mapping people's movement and their behaviour to summation times for common activity types on a timeline. Usually, timeline models estimate required safe egress time (RSET) as a sum of four timespans: detection, alarm, premovement, and movement time, and compare this with the available safe egress time (ASET) to determine what is influencing the margin of safety.This paper presents a cross-sectional study for identifying the most critical items on RSET and people's decision-making and with possibilities to include safety knowledge regarding people with physical or cognitive functional impairments. The result will contribute to increased knowledge on considering at-risk groups and disabilities for designing and developing safe escape routes. The expected results can be an asset to predict the probabilistic behavioural pattern of at-risk groups and necessary components for defining a framework for understanding how stakeholders can consider various disabilities when determining the margin of safety for a safe escape route.

Keywords: fire safety, evacuation, decision-making, at-risk groups

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Authors: Puran Prasad Adhikari

Abstract:

Considering the fact that when we are able to communicate science and economics effectively to broader nonprofessional audiences, it promotes a great understanding of its wider relevance to society and encourages more informed and confident decision-making at all levels, from the government to communities to individuals. The study has been conducted. This study is aimed to examine the understanding of the general public of economics and the basic sciences functioning in our surroundings in our day-to-day life. Data was gathered through historical documents related to science communication and through interviews with the public. The statistical result shows that there is a great lack of knowledge in the general public about the basic sciences and how economics impacts their life daily. The difficulties faced by the public include the view that these things can only be understood by professionals and it is beyond their capacity to grasp these concepts, the use of technical words and jargon by the professionals, and the lack of the medium to understand even if they want to learn it. The result further indicates that the lack of this basic knowledge also leads to bad decision-making, which causes frustration and anxiety. The result shows the great correlation between the confidence level of a person and the knowledge of basic science and economics. The factor behind this was the right decision-making capacity of the individual, which boosts the happy hormones of the individual. So indirectly, we found the correlation between mental health and the understanding of science and economics. The public wants to have a basic understanding and concepts of these topics, but they complain that there is no effective medium through which they can gain the understanding; the medium which is available is full of jargon and technical terms directed to professional and highly educated which they consider is beyond their reach. So, communicating the basic concepts to the general public is of great importance in the 21st century for the overall progress of society. The professional one can make this possible by considering the level of public understanding and making the communication and the programs comprehensible to the layman. Various means can be used to make this successful and effective, e.g., cartoon guide books, Q&A with the layman, animations use, and daily life examples. This study’s implication will help educators of high-level institutions and policymakers improve general public [layman] access to comprehensible knowledge.

Keywords: layman, comprehensible, decision making, frustration, confidence

Procedia PDF Downloads 74