Search results for: gambling decision

Authors: Abdallah A. Hlayel

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Operations research science (OR) deals with good success in developing and applying scientific methods for problem solving and decision-making. However, by using OR techniques, we can enhance the use of computer decision support systems to achieve optimal management for institutions. OR applies comprehensive analysis including all factors that affect on it and builds mathematical modeling to solve business or organizational problems. In addition, it improves decision-making and uses available resources efficiently. The adoption of OR by universities would definitely contributes to the development and enhancement of the performance of OR techniques. This paper provides an understanding of the structures, approaches and models of OR in problem solving and decision-making.

Keywords: best candidates' method, decision making, decision support system, operations research

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Authors: Komol Phaisarn, Anuphan Suttimarn, Vitchanan Keawtong, Kittisak Thongyoun, Chaiyos Jamsawang

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This article is intended to analyze insurance information which contains information on the customer decision when purchasing life insurance pay package. The data were analyzed in order to present new customers with Life Insurance Perfect Pay package to meet new customers’ needs as much as possible. The basic data of insurance pay package were collect to get data mining; thus, reducing the scattering of information. The data were then classified in order to get decision model or decision tree using Algorithm C4.5 (J-48). In the classification, WEKA tools are used to form the model and testing datasets are used to test the decision tree for the accurate decision. The validation of this model in classifying showed that the accurate prediction was 68.43% while 31.25% were errors. The same set of data were then tested with other models, i.e. Naive Bayes and Zero R. The results showed that J-48 method could predict more accurately. So, the researcher applied the decision tree in writing the program used to introduce the product to new customers to persuade customers’ decision making in purchasing the insurance package that meets the new customers’ needs as much as possible.

Keywords: decision tree, data mining, customers, life insurance pay package

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Authors: Rhenan D. Estacio

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This research presents the career decision making difficulty and emotional quotient of one hundred fifty (150) college students of City College of Angeles, Academic Year 2016-2017. Independent sample T-test and Pearson r correlation were done to shifter and non-shifter in terms of their career decision making difficulty and emotional quotient. A significant positive correlation revealed (r=.302) on career decision making difficulty and emotional quotient. Also, a significant negative correlation revealed (r=-.329) on career decision making difficulty and a moderating variable which is age. The finding significantly shows that emotional quotient was associated and adds a significant incremental variance with career decision making difficulty. Moreover, age shows a moderating effect on career decision making difficulty by having a significant decline and increment on variables. Furthermore, categorization of career decision making difficulty and emotional quotient of said participants are described in this study. In addition, career guidance interventions were suggested based on the results of this study.

Keywords: career, decision-making, difficulty, emotional, quotient

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Authors: Ahmed Ouammi

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This paper presents an integrated decision framework to support decision makers in the selection and optimal allocation of wind power plants in the electric grid. The developed approach intends to maximize the benefice related to the project investment during the planning period. The proposed decision model considers the main cost components, meteorological data, environmental impacts, operation and regulation constraints, and territorial information. The decision framework is expressed as a stochastic constrained optimization problem with the aim to identify the suitable locations and related optimal wind turbine technology considering the operational constraints and maximizing the benefice. The developed decision support system is applied to a case study to demonstrate and validate its performance.

Keywords: decision support systems, electric power grid, optimization, wind energy

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Authors: Pathinathan Theresanathan, Ajay Minj

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Ignatian Discernment Process (IDP) is an intense decision-making tool to decide on life-issues. Decisions are influenced by various factors outside of the decision maker and inclination within. This paper develops IDP in the context of Fuzzy Multi-criteria Decision Making (FMCDM) process. Extended VIKOR method is a decision-making method which encompasses even conflict situations and accommodates weightage to various issues. Various aspects of IDP, namely three ways of decision making and tactics of inner desires, are observed, analyzed and articulated within the frame work of fuzzy rules. The decision-making situations are broadly categorized into two types. The issues outside of the decision maker influence the person. The inner feeling also plays vital role in coming to a conclusion. IDP integrates both the categories using Extended VIKOR method. Case studies are carried out and analyzed with FMCDM process. Finally, IDP is verified with an illustrative case study and results are interpreted. A confused person who could not come to a conclusion is able to take decision on a concrete way of life through IDP. The proposed IDP model recommends an integrated and committed approach to value-based decision making.

Keywords: AHP, FMCDM, IDP, ignatian discernment, MCDM, VIKOR

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Authors: Mariam Shah

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This paper will examine the potential influence and role of unconscious cognition on judicial decision making. The theoretical underpinnings of this paper rest on phenomenological theory grounded predominantly in Schutzian phenomenology. Aspects of Husserlian and Gadamerian phenomenology will be included within the phenomenological framework put forward in this paper, in an attempt to provide a more complete and thorough account of how unconscious cognition can influence judicial decision making. This paper has far reaching implications, as the framework provides a foundation for unconscious cognitive factors which can work to influence decision making more generally.

Keywords: decision making, Gadamer, Gadamerian, Husserl, Husserlian, judicial decision making, phenomenology, Schutz, Schutzian

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Authors: I. Teotónio, C.O. Cruz, C.M. Silva, M. Manso

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Diverse stakeholders show different concerns when choosing green roof systems. Also, green roof solutions vary in their cost and performance. Therefore, decision-makers continually face the difficult task of balancing benefits against green roofs costs. Decision analysis methods, as multicriteria analysis, can be used when the decision‑making process includes different perspectives, multiple objectives, and uncertainty. The present study adopts a multicriteria decision model to evaluate the installation of green roofs in buildings, determining the solution with the best trade-off between costs and benefits in agreement with the preferences of the users/investors. This methodology was applied to a real decision problem, assessing the preferences between different green roof systems in an existing building in Lisbon. This approach supports the decision-making process on green roofs and enables robust and informed decisions on urban planning while optimizing buildings retrofitting.

Keywords: decision making, green roofs, investors preferences, multicriteria analysis, sustainable development

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Authors: Rimac Smiljanic Ana, Pepur Sandra, Bulog Ivana

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Financial decision-making in the household is not simple, and it demands that the decision-maker has proper knowledge and skills. Usually, high uncertainty, risk, and stress surround household financial decision-making since it is extremely important and critical for household wealth accumulation and for the well-being of all household members. Generally, skilful people tend to have higher confidence in certain tasks they perform, and they achieve better results. Therefore, in the household context, the possession of certain skills by the ones who make financial decisions for the household is of particular importance. This paper addresses financial literacy as an important skill for household decision-making. Apart from financial literacy, the paper also considers other factors, such as employment, education, and age, as significant for household financial decision-making. The analysis is based on quantitative individual-level survey data. The data collection was conducted during January and February 2021 in Croatia through an online survey. To reach a wide variety of participants, the snowball sampling method was used. The result revealed interesting and somewhat puzzling results. Our results point to the importance of financial literacy skills for household decision-making.

Keywords: skill, financial literacy, decision-making, household financijal decision making

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Authors: Ali Farzan

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Classification of data objects or patterns is a major part in most of Decision making systems. One of the popular and commonly used classification methods is Decision Tree (DT). It is a hierarchical decision making system by which a binary tree is constructed and starting from root, at each node some of the classes is rejected until reaching the leaf nods. Each leaf node is a representative of one specific class. Finding the splitting criteria in each node for constructing or training the tree is a major problem. Particle Swarm Optimization (PSO) has been adopted as a metaheuristic searching method for finding the best splitting criteria. Result of evaluating the proposed method over benchmark datasets indicates the higher accuracy of the new PSO based decision tree.

Keywords: decision tree, particle swarm optimization, splitting criteria, metaheuristic

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Authors: Musarrat Jabeen

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Thoughtful intelligence offers a sustainable position to enhance the influence of decision-makers. Thoughtful Intelligence implies the understanding to realize the impact of one’s thoughts, words and actions on the survival, dignity and development of the individuals, groups and nations. Thoughtful intelligence has received minimal consideration in the area of Decision Support Systems, with an end goal to evaluate the quantity of knowledge and its viability. This pattern degraded the imbibed contribution of thoughtful intelligence required for sustainable decision making. Given the concern, this paper concentrates on the question: How to present a model of Thoughtful Decision Support System (TDSS)? The aim of this paper is to appreciate the concepts of thoughtful intelligence and insinuate a Decision Support System based on thoughtful intelligence. Thoughtful intelligence includes three dynamic competencies: i) Realization about long term impacts of decisions that are made in a specific time and space, ii) A great sense of taking actions, iii) Intense interconnectivity with people and nature and; seven associate competencies, of Righteousness, Purposefulness, Understanding, Contemplation, Sincerity, Mindfulness, and Nurturing. The study utilizes two methods: Focused group discussion to count prevailing Decision Support Systems; 70% results of focus group discussions found six decision support systems and the positive inexistence of thoughtful intelligence among decision support systems regarding sustainable decision making. Delphi focused on defining thoughtful intelligence to model (TDSS). 65% results helped to conceptualize (definition and description) of thoughtful intelligence. TDSS is offered here as an addition in the decision making literature. The clients are top leaders.

Keywords: thoughtful intelligence, sustainable decision making, thoughtful decision support system

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Authors: Babek Erdebilli

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The aim of this study is to develop and describe a new methodology for the Multi-Criteria Decision-Making (MCDM) problem using IFE (Elimination Et Choix Traduisant La Realite (ELECTRE) model. The proposed models enable Decision-Makers (DMs) on the assessment and use Intuitionistic Fuzzy Numbers (IFN). A numerical example is provided to demonstrate and clarify the proposed analysis procedure. Also, an empirical experiment is conducted to validation the effectiveness.

Keywords: multi-criteria decision-making, IFE, DM’s, fuzzy electre model

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Authors: Yogesh C. Sharma, A. Seetharaman

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The decision-making process in humans is a complicated system influenced by a variety of intrinsic and extrinsic factors. Human decisions have a ripple effect on subsequent decisions. In this study, the scope of human decision making is limited to employees. In an organisation, a person makes a variety of decisions from the time they are hired to the time they retire. The goal of this research is to identify various elements that influence decision-making. In addition, the environment in which a decision is made is a significant aspect of the decision-making process. Employees in today's workplace use artificial intelligence (AI) systems for automation and decision augmentation. The impact of AI systems on the decision-making process is examined in this study. This research is designed based on a systematic literature review. Based on gaps in the literature, limitations and the scope of future research have been identified. Based on these findings, a research framework has been designed to identify various factors affecting employee decision making. Employee decision making is influenced by technological advancement, data-driven culture, human trust, decision automation-augmentation, and workplace motivation. Hybrid human-AI systems require the development of new skill sets and organisational design. Employee psychological safety and supportive leadership influences overall job satisfaction.

Keywords: employee decision making, artificial intelligence (AI) environment, human trust, technology innovation, psychological safety

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Authors: Rolla Monib, Chris I. Goodier, Alistair Gibbs

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The aim of this paper is to investigate the key drivers in planning the construction phase for infrastructure projects to reduce project delays. To achieve this aim, the research conducted three case studies using semi-structured and unstructured interviews (n=36). The results conclude that a lack of modularisation awareness is among the key factors attributed to project delays. The current emotive and ill-informed approach to decision-making, coupled with the lack of knowledge regarding appropriate construction method selection, prevents the potential benefits of modularisation being fully realised. To assist with decision-making for the best construction method, the research presents project management tools to help decision makers to choose the most appropriate construction approach through optimising the use of modularisation in EC. A decision-making checklist and diagram are presented in this paper. These checklist tools and diagrams assist the project team in determining the best construction method, taking into consideration the module type.

Keywords: infrastructure, modularization, decision support, decision-making

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Authors: Barbora Chmelíková

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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.

Keywords: financial decision-making, financial literacy, personal finance, university students

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Authors: Y. Kourd, D. Lefebvre, N. Guersi

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This paper presents a new idea for fault detection and isolation (FDI) technique which is applied to industrial system. This technique is based on Neural Networks fault-free and Faulty behaviors Models (NNFM's). NNFM's are used for residual generation, while decision tree architecture is used for residual evaluation. The decision tree is realized with data collected from the NNFM’s outputs and is used to isolate detectable faults depending on computed threshold. Each part of the tree corresponds to specific residual. With the decision tree, it becomes possible to take the appropriate decision regarding the actual process behavior by evaluating few numbers of residuals. In comparison to usual systematic evaluation of all residuals, the proposed technique requires less computational effort and can be used for on line diagnosis. An application example is presented to illustrate and confirm the effectiveness and the accuracy of the proposed approach.

Keywords: neural networks, decision trees, diagnosis, behaviors

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Authors: Evagelos Korobilis-Magas, Adekunle Oke

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The constantly increasing tendency towards a global economy and the subsequent increase in exporting, as a result, has inevitably led to a growing interest in the topic of export success as well. Numerous studies, particularly in the past three decades, have examined a plethora of determinants to export performance. However, to the authors' best knowledge, no study up to date has ever considered decision quality as a potential antecedent to export success by attempting to test the relationship between decision quality and export performance. This is a surprising deficiency given that the export marketing literature has long ago suggested that quality decisions are regarded as the crucial intervening variable between sound decision–making and export performance. This study integrates the different definitions of decision quality proposed in the literature and the key themes incorporated therein and adapts it to an export context. Apart from laying the conceptual foundations for the delineation of this elusive but very important construct, this study is the first ever to test the relationship between decision quality and export performance. Based on survey data from a sample of 189 British export decision-makers and within a contingency theory framework, the results reveal that there is a direct, positive link between decision quality and export performance. This finding opens significant future research avenues and has very important implications for both theory and practice.

Keywords: export performance, decision quality, mixed methods, contingency theory

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Authors: Bundit Pungnirund

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This research aimed to study the relationship between marketing mix attitudes, motivation of buying decision and tendency of consumer decision making in buying the condominiums in Thailand. This study employed by survey and quantitative research. The questionnaire was used to collect the data from 400 sampled of customers who interested in buying condominium in Bangkok. The descriptive statistics and Pearson’s correlation coefficient analysis were used to analyze data. The research found that marketing mixed factors in terms of product and price were related to buying decision making tendency in terms of price and room size. Marketing mixed factors in terms of price, place and promotion were related to buying decision making tendency in term of word of mouth. Consumers’ buying motivation in terms of social acceptance, self-esteemed and self-actualization were related to buying decision making tendency in term of room size. In addition, motivation in self-esteemed was related to buying decision making tendency within a year.

Keywords: condominium, marketing mix, motivation, tendency of consumer decision making

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Authors: Shahram Payandeh

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This paper presents an overview of a model which can be used as a part of a decision support system when fusing information from multiple sensing environment. Data fusion has been widely studied in the past few decades and numerous frameworks have been proposed to facilitate decision making process under uncertainties. Multi-sensor data fusion technology plays an increasingly significant role during people tracking and activity recognition. This paper presents an overview of a quantum model as a part of a decision-making process in the context of multi-sensor data fusion. The paper presents basic definitions and relationships associating the decision-making process and quantum model formulation in the presence of uncertainties.

Keywords: quantum model, sensor space, sensor network, decision support

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Authors: Tulio Sulbaran, Sandeep Langar

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Architects are an integral part of the construction industry and are continuously incorporating decisions that influence projects during their life cycle. These decisions aim at selecting best alternative from the ones available. Unfortunately, this decision making process is mainly unexplored in the construction industry. No instrument to measure construction decision, based on knowledgebase of decision-makers, has existed. Additionally, limited literature is available on the topic. Recently, an instrument to gain an understanding of the construction decision-making process was developed by Dr. Tulio Sulbaran from the University of Texas, San Antonio. The instrument’s name is 'Construction Decision Making Inventory (CDMI)'. The CDMI is an innovative idea to measure the 'What? When? How? Moreover, Who?' of the construction decision-making process. As an innovative idea, its statistical validity (accuracy of the assessment) is yet to be assessed. Thus, the purpose of this paper is to describe the results of a case study with architects in the south-east of the United States aimed to determine the CDMI validity. The results of the case study are important because they assess the validity of the tool. Furthermore, as the architects evaluated each question within the measurements, this study is also guiding the enhancement of the CDMI.

Keywords: decision, support, inventory, architect

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Authors: Karrar Raoof Kareem Kamoona, Enas Fathi Taher AlHares, Zeynep Isik

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The various disciplines in the construction industry and the co-existence of the people in the various disciplines are what builds well-developed, closely-knit interpersonal skills at various hierarchical levels thus leading to a varied way of leadership. The varied decision making aspects during the lifecycle of a project include: autocratic, participatory and last but not least, free-rein. We can classify some of the decision makers in the construction industry in a hierarchical manner as follows: project executive, project manager, superintendent, office engineer and finally the field engineer. This survey looked at how decisions are made during the construction period by the key stakeholders in the project. From the paper it is evident that the three decision making aspects can be used at different times or at times together in order to bring out the best leadership decision. A blend of different leadership styles should be used to enhance the success rate during the project lifecycle.

Keywords: leadership style, construction, decision-making, built environment

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Authors: Noppadol Sritragool

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The objectives of this research were to investigate the decision of passengers who choose to fry with low cost airlines and to study marketing factors which have the influence to the decision to choose each low cost airlines. This paper was a quantitative research technique. A total of 400 low cost airlines’ passengers were interviewed via English questionnaire to collect the respondents’ opinions. The findings revealed that respondents were male and female at a similar proportion. The majority had at least an undergraduate degree, have a lower management level jobs, and had income in the range of 25,000 -35,000 baht per month.. In addition, the findings also revealed that the first three marketing factors influencing the decision of the respondents to choose low-cost airlines were low price, direct flight, and online system.

Keywords: decision to choose, marketing factors, low-cost airlines

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Authors: H.-H. Doh, J.-M. Yu, Y.-J. Kwon, J.-H. Shin, H.-W. Kim, S.-H. Nam, D.-H. Lee

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This paper suggests a decision tree based approach for flexible job shop scheduling with multiple process plans, i. e. each job can be processed through alternative operations, each of which can be processed on alternative machines. The main decision variables are: (a) selecting operation/machine pair; and (b) sequencing the jobs assigned to each machine. As an extension of the priority scheduling approach that selects the best priority rule combination after many simulation runs, this study suggests a decision tree based approach in which a decision tree is used to select a priority rule combination adequate for a specific system state and hence the burdens required for developing simulation models and carrying out simulation runs can be eliminated. The decision tree based scheduling approach consists of construction and scheduling modules. In the construction module, a decision tree is constructed using a four-stage algorithm, and in the scheduling module, a priority rule combination is selected using the decision tree. To show the performance of the decision tree based approach suggested in this study, a case study was done on a flexible job shop with reconfigurable manufacturing cells and a conventional job shop, and the results are reported by comparing it with individual priority rule combinations for the objectives of minimizing total flow time and total tardiness.

Keywords: flexible job shop scheduling, decision tree, priority rules, case study

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Authors: Benlakhdar Mohamed Larbi, Yagoub Asma

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Purpose: This study aims at highlighting the significance and importance of utilizing marketing information system (MKIS) on decision-making, by clarifying the need for quick and efficient decision-making due to time saving and preventing of duplication of work. Design, methodology, approach: The study shows the roles of each part of MKIS for developing marketing strategy, which present a real challenge to individuals and institutions in an era characterized by uncertainty and clarifying the importance of each part separately, depending on decision type and the nature of the situation. The empirical research method was evaluated by specialized experts, conducted by means of questionnaires. Correlation analysis was employed to test the validity of the procedure. Results: The empirical study findings confirmed positive relationships between the level of utilizing and adopting ‘decision support system and marketing intelligence’ and the success of an organizational decision-making, and provide the organization with a competitive advantage as it allows the organization to solve problems. Originality/value: The study offer better understanding of performance- increasing market share as an organizational decision making based on marketing information system.

Keywords: database, marketing research, marketing intelligence, decision support system, decision-making

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Authors: Rolla Monib, Chris Ian Goodier, Alistair Gibb

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This paper aims to investigate decision support strategies in the EC sector to determine the most appropriate degree of modularization. This is achieved through three oil and gas (O&G) and two power plant case studies via semi-structured interviews (n=59 and n=27, respectively), analysis of project documents, and case study-specific semi-structured validation interviews (n=12 and n=8). New terminology to distinguish degrees of modularization is proposed, along with a decision-making support checklist and a diagrammatic decision-making support figure. Results indicate that the EC sub-sectors were substantially more satisfied with the application of component, structural, or traditional modularization compared with system modularization for some types of modules. Key drivers for decisions on the degree of modularization vary across module types. This paper can help the EC sector determine the most suitable degree of modularization via a decision-making support strategy.

Keywords: modularization, engineering construction, case study, decision support

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Authors: Mariam Shah

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Stereotypes are not generally considered to be an acceptable influence upon any decision making process, particularly those involving judicial decision making outcomes. Yet, we are confronted with an uncomfortable truth that stereotypes may be operating to influence judicial outcomes. Variances in sentencing outcomes are not easily explained away by criminological, psychological, or sociological theorem, but may be answered via qualitative research produced within the field of phenomenology. This paper will examine the current literature pertaining to the effect of stereotypes on the criminal justice system within the UK, and will also discuss what the implications are for stereotypical influences upon decision making in the criminal justice system. This paper will give particular focus to shoplifting offences dealt with in UK criminal courts, but this research has long reaching implications for the criminal process more generally.

Keywords: decision making, judicial decision making, phenomenology, shoplifting, stereotypes

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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: Arwa Khannoussi, Alexandru-Liviu Olteanu, Pritesh Narayan, Catherine Dezan, Jean-Philippe Diguet, Patrick Meyer, Jacques Petit-Frere

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Due to the nature of autonomous Unmanned Aerial Vehicles (UAV) missions, it is important that the decisions of a UAV stay consistent with the priorities of an operator, while at the same time allowing them to be easily audited and explained. We propose a multi-layer decision engine that integrates the operator (human) preferences by using the Multi-Criteria Decision Aiding (MCDA) methods. A software implementation of a UAV simulator and of the decision engine is presented to highlight the advantage of using such techniques on high-level decisions. We demonstrate that, with such a preference-based decision engine, the decisions of the UAV are compatible with the priorities of the operator, which in turn increases her/his confidence in its autonomous behavior.

Keywords: autonomous UAV, multi-criteria decision aiding, multi-layers decision engine, operator's preferences, traceable decisions, UAV simulation

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Authors: Gopinath Rathod, Vinod Puranik

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Sustainability is regarded as a key concept for survival in the competitive scenario. Industrial risk and diversification of risk type’s increases with industrial developments. In the context of sustainable manufacturing, the evaluation of risk is difficult because of the incomplete information and multiple indicators. Fuzzy Multiple Attribute Decision Method (FMADM) has been used with a three level hierarchical decision making model to evaluate aggregate risk for sustainable manufacturing projects. A case study has been presented to reflect the risk characteristics in sustainable manufacturing projects.

Keywords: sustainable manufacturing, decision making, aggregate risk, fuzzy logic, fuzzy multiple attribute decision method

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Authors: Tatsuya Otoshi, Masayuki Murata

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With the development and diversification of applications on the Internet, applications that require high responsiveness, such as video streaming, are becoming mainstream. Application responsiveness is not only a matter of communication delay but also a matter of time required to grasp changes in network conditions. The tradeoff between accuracy and measurement time is a challenge in network control. We people make countless decisions all the time, and our decisions seem to resolve tradeoffs between time and accuracy. When making decisions, people are known to make appropriate choices based on relatively small samples. Although there have been various studies on models of human decision-making, a model that integrates various cognitive biases, called ”quantum decision-making,” has recently attracted much attention. However, the modeling of small samples has not been examined much so far. In this paper, we extend the model of quantum decision-making to model decision-making with a small sample. In the proposed model, the state is updated by value-based probability amplitude amplification. By analytically obtaining a lower bound on the number of samples required for decision-making, we show that decision-making with a small number of samples is feasible.

Keywords: quantum decision making, small sample, MPEG-DASH, Grover's algorithm

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki, Anastasia Kalamakidou

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Transport infrastructure assets are key components of the national asset portfolio. The decision to invest in a new infrastructure in transports could take from a few years to some decades. This is mainly because of the need to reserve and spent many capitals, the long payback period, the number of the stakeholders involved in the decision process and –many times- the investment and business risks are high. Decision makers and stakeholders need to define the framework and the outputs of the decision process taking into account the project characteristics, the business uncertainties, and the different expectations. Therefore, the decision assessment framework is an essential challenge linked with the key decision factors meet the stakeholder expectations highlighting project trade-offs, financial risks, business uncertainties and market limitations. This paper examines the decision process for new transport infrastructure projects in cross-border regions, where a wide range of stakeholders with different expectation is involved. According to a consequences analysis systemic approach, the relationship of transport infrastructure development, economic system development and stakeholder expectation is analysed. Adopting the on system of system methodological approach, the decision making the framework, variables, inputs and outputs are defined, highlighting the key shareholder’s role and expectations. The application provides the methodology outputs presenting the proposed decision framework for a strategic railway project in north Greece deals with the upgrade of the existing railway corridor connecting Greece, Turkey, and Bulgaria.

Keywords: system of system decision making, managing decisions for transport projects, decision support framework, defining decision process

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