Search results for: PU decision
3292 Stock Characteristics and Herding Formation: Evidence from the United States Equity Market
Authors: Chih-Hsiang Chang, Fang-Jyun Su
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This paper explores whether stock characteristics influence the herding formation among investors in the US equity market. To extend the research scope of the existing literature, this paper further examines the role that stock risk characteristics play in the US equity market, and the way they influence investors’ decision-making. First, empirical results show that whether general stocks or high-risk stocks, there are no herding behaviors among the investors in the US equity market during the whole research period or during four great events. Moreover, stock characteristics have great influence on investors’ trading decisions. Finally, there is a bidirectional lead-lag relationship of the herding formation between high-risk stocks and low-risk stocks, but the influence of high-risk stocks on the low-risk stocks is stronger than that of low-risk stocks on the high-risk stocks.Keywords: stock characteristics, herding formation, investment decision, US equity market, lead-lag relationship
Procedia PDF Downloads 2753291 An Optimization Model for Waste Management in Demolition Works
Authors: Eva Queheille, Franck Taillandier, Nadia Saiyouri
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Waste management has become a major issue in demolition works, because of its environmental impact (energy consumption, resource consumption, pollution…). However, improving waste management requires to take also into account the overall demolition process and to consider demolition main objectives (e.g. cost, delay). Establishing a strategy with these conflicting objectives (economic and environment) remains complex. In order to provide a decision-support for demolition companies, a multi-objective optimization model was developed. In this model, a demolition strategy is computed from a set of 80 decision variables (worker team composition, machines, treatment for each type of waste, choice of treatment platform…), which impacts the demolition objectives. The model has experimented on a real-case study (demolition of several buildings in France). To process the optimization, different optimization algorithms (NSGA2, MOPSO, DBEA…) were tested. Results allow the engineer in charge of this case, to build a sustainable demolition strategy without affecting cost or delay.Keywords: deconstruction, life cycle assessment, multi-objective optimization, waste management
Procedia PDF Downloads 1523290 Multi-Criteria Decision Support System for Modeling of Civic Facilities Using GIS Applications: A Case Study of F-11, Islamabad
Authors: Asma Shaheen Hashmi, Omer Riaz, Khalid Mahmood, Fahad Ullah, Tanveer Ahmad
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The urban landscapes are being change with the population growth and advancements in new technologies. The urban sprawl pattern and utilizes are related to the local socioeconomic and physical condition. Urban policy decisions are executed mostly through spatial planning. A decision support system (DSS) is very powerful tool which provides flexible knowledge base method for urban planning. An application was developed using geographical information system (GIS) for urban planning. A scenario based DSS was developed to integrate the hierarchical muti-criteria data of different aspects of urban landscape. These were physical environment, the dumping site, spatial distribution of road network, gas and water supply lines, and urban watershed management, selection criteria for new residential, recreational, commercial and industrial sites. The model provided a framework to incorporate the sustainable future development. The data can be entered dynamically by planners according to the appropriate criteria for the management of urban landscapes.Keywords: urban, GIS, spatial, criteria
Procedia PDF Downloads 6373289 Decentralized Forest Policy for Natural Sal (Shorea robusta) Forests Management in the Terai Region of Nepal
Authors: Medani Prasad Rijal
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The study outlines the impacts of decentralized forest policy on natural Sal (shorea robusta) forests in the Terai region of Nepal. The government has implemented community forestry program to manage the forest resources and improve the livelihood of local people collectively. The forest management authorities such as conserve, manage, develop and use of forest resources were shifted to the local communities, however, the ownership right of the forestland retained by the government. Local communities took the decision on harvesting, distribution, and sell of forest products by fixing the prices independently. The local communities were putting the low value of forest products and distributed among the user households on the name of collective decision. The decision of low valuation is devaluating the worth of forest products. Therefore, the study hypothesized that decision-making capacities are equally prominent next to the decentralized policy and program formulation. To accomplish the study, individual to group level discussions and questionnaire survey methods were applied with executive committee members and user households. The study revealed that the local intuition called Community Forest User Group (CFUG) committee normally took the decisions on consensus basis. Considering to the access and affording capacity of user households having poor economic backgrounds, low pricing mechanism of forest products has been practiced, even though the Sal timber is far expensive in the local market. The local communities thought that low pricing mechanism is accessible to all user households from poor to better off households. However, the analysis of forest products distribution opposed the assumption as most of the Sal timber, which is the most valuable forest product of community forest only purchased by the limited households of better economic conditions. Since the Terai region is heterogeneous by socio-economic conditions, better off households always have higher affording capacity and possibility of taking higher timber benefits because of low price mechanism. On the other hand, the minimum price rate of forest products has poor contribution in community fund collection. Consequently, it has poor support to carry out poverty alleviation activities to poor people. The local communities have been fixed Sal timber price rate around three times cheaper than normal market price, which is a strong evidence of forest product devaluation itself. Finally, the study concluded that the capacity building of local executives as the decision-makers of natural Sal forests is equally indispensable next to the policy and program formulation for effective decentralized forest management. Unilateral decentralized forest policy may devaluate the forest products rather than devolve of power to the local communities and empower to them.Keywords: community forestry program, decentralized forest policy, Nepal, Sal forests, Terai
Procedia PDF Downloads 3333288 Optimal Maintenance Policy for a Three-Unit System
Authors: A. Abbou, V. Makis, N. Salari
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We study the condition-based maintenance (CBM) problem of a system subject to stochastic deterioration. The system is composed of three units (or modules): (i) Module 1 deterioration follows a Markov process with two operational states and one failure state. The operational states are partially observable through periodic condition monitoring. (ii) Module 2 deterioration follows a Gamma process with a known failure threshold. The deterioration level of this module is fully observable through periodic inspections. (iii) Only the operating age information is available of Module 3. The lifetime of this module has a general distribution. A CBM policy prescribes when to initiate a maintenance intervention and which modules to repair during intervention. Our objective is to determine the optimal CBM policy minimizing the long-run expected average cost of operating the system. This is achieved by formulating a Markov decision process (MDP) and developing the value iteration algorithm for solving the MDP. We provide numerical examples illustrating the cost-effectiveness of the optimal CBM policy through a comparison with heuristic policies commonly found in the literature.Keywords: reliability, maintenance optimization, Markov decision process, heuristics
Procedia PDF Downloads 2193287 A Decision Making Tool for Selecting the Most Environmental Friendly Wastewater Treatment Plant for Small-Scale Communities
Authors: Mehmet Bulent Topkaya, Mustafa Yildirim
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Wastewater treatment systems are designed and used to minimize adverse impacts of the wastewater on the environment before discharging. Various treatment options for wastewater treatment have been developed, and each of them has different performance characteristics and environmental impacts (e.g. material and land usage, energy consumption, greenhouse gas emission, water and soil emission) during construction, operation or maintenance phases. Assessing the environmental impacts during these phases are essential for the overall evaluation of the treatment systems. In this study, wastewater treatment options, such as vegetated land treatment, constructed wetland, rotating biological contactor, conventional activated sludge treatment, membrane bioreactor, extended aeration and stabilization pond are evaluated. The comparison of the environmental impacts is conducted under the assumption that the effluents will be discharged to sensitive and less sensitive areas respectively. The environmental impacts of each alternative are evaluated by life cycle assessment (LCA) approach. For this purpose, data related to energy usage, land requirement, raw material consumption, and released emissions from the life phases were collected with inventory studies based on field studies and literature. The environmental impacts were assessed by using SimaPro 7.1 LCA software. As the scale of the LCA results is global, an MS-Excel based decision support tool that includes the LCA result is developed in order to meet also the local demands. Using this tool, it is possible to assign weight factors on the LCA results according to local conditions by using Analytical Hierarchy Process and finally the most environmentally appropriate treatment option can be selected.Keywords: analytical hierarchy process, decision support system, life cycle assessment, wastewater treatment
Procedia PDF Downloads 3013286 Big Data-Driven Smart Policing: Big Data-Based Patrol Car Dispatching in Abu Dhabi, UAE
Authors: Oualid Walid Ben Ali
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Big Data has become one of the buzzwords today. The recent explosion of digital data has led the organization, either private or public, to a new era towards a more efficient decision making. At some point, business decided to use that concept in order to learn what make their clients tick with phrases like ‘sales funnel’ analysis, ‘actionable insights’, and ‘positive business impact’. So, it stands to reason that Big Data was viewed through green (read: money) colored lenses. Somewhere along the line, however someone realized that collecting and processing data doesn’t have to be for business purpose only, but also could be used for other purposes to assist law enforcement or to improve policing or in road safety. This paper presents briefly, how Big Data have been used in the fields of policing order to improve the decision making process in the daily operation of the police. As example, we present a big-data driven system which is sued to accurately dispatch the patrol cars in a geographic environment. The system is also used to allocate, in real-time, the nearest patrol car to the location of an incident. This system has been implemented and applied in the Emirate of Abu Dhabi in the UAE.Keywords: big data, big data analytics, patrol car allocation, dispatching, GIS, intelligent, Abu Dhabi, police, UAE
Procedia PDF Downloads 4903285 Practical Guidelines for Utilizing WipFrag Software to Assess Oversize Blast Material Using Both Orthomosaic and Digital Images
Authors: Blessing Olamide Taiwo, Andrew Palangio, Chirag Savaliya, Jenil Patel
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Oversized material resulting from blasting presents a notable drawback in the transportation of run-off-mine material due to increased expenses associated with handling, decreased efficiency in loading, and greater wear on digging equipment. Its irregular size and weight demand additional resources and time for secondary breakage, impacting overall productivity and profitability. This paper addresses the limitations of interpreting image analysis software results and applying them to the assessment of blast-generated oversized materials. This comprehensive guide utilizes both ortho mosaic and digital photos to provide critical approaches for optimizing fragmentation analysis and improving decision-making in mining operations. It briefly covers post-blast assessment, blast block heat map interpretation, and material loading decision-making recommendations.Keywords: blast result assessment, WipFrag, oversize identification, orthomosaic images, production optimization
Procedia PDF Downloads 393284 Water Quality Calculation and Management System
Authors: H. M. B. N Jayasinghe
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The water is found almost everywhere on Earth. Water resources contain a lot of pollution. Some diseases can be spread through the water to the living beings. So to be clean water it should undergo a number of treatments necessary to make it drinkable. So it is must to have purification technology for the wastewater. So the waste water treatment plants act a major role in these issues. When considering the procedures taken after the water treatment process was always based on manual calculations and recordings. Water purification plants may interact with lots of manual processes. It means the process taking much time consuming. So the final evaluation and chemical, biological treatment process get delayed. So to prevent those types of drawbacks there are some computerized programmable calculation and analytical techniques going to be introduced to the laboratory staff. To solve this problem automated system will be a solution in which guarantees the rational selection. A decision support system is a way to model data and make quality decisions based upon it. It is widely used in the world for the various kind of process automation. Decision support systems that just collect data and organize it effectively are usually called passive models where they do not suggest a specific decision but only reveal information. This web base system is based on global positioning data adding facility with map location. Most worth feature is SMS and E-mail alert service to inform the appropriate person on a critical issue. The technological influence to the system is HTML, MySQL, PHP, and some other web developing technologies. Current issues in the computerized water chemistry analysis are not much deep in progress. For an example the swimming pool water quality calculator. The validity of the system has been verified by test running and comparison with an existing plant data. Automated system will make the life easier in productively and qualitatively.Keywords: automated system, wastewater, purification technology, map location
Procedia PDF Downloads 2473283 Early Marriage and Women's Empowerment: The Case of Chil-bride in East Hararghe Zone of Oromia National Regional State, Ethiopia
Authors: Emad Mohammed Sani
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Women encounter exclusion and discrimination in varying degrees, particularly those who marry as minors. The detrimental custom of getting married young is still prevalent worldwide and affects millions of people. It has been less common over time, although it is still widespread in underdeveloped nations. Oromia Regional State is the region in Ethiopia with the highest proportion of child brides. This study aimed at evaluating the effects of early marriage on its survivors’ life conditions – specifically, empowerment and household decision-making – in Eastern Hararghe Zone of Oromia Region. This study employed community-based cross-sectional study design. It adopted mixed method approach – survey, in-depth interview and focus group discussion (FGD) – to collect, analyses and interpret data on early marriage and its effects on household decision-making processes. Narratives and analytical descriptions were integrated to substantiate and/or explain observed quantitative results, or generate contextual themes. According to this study, married women who were married at or after the age of eighteen participated more in household decision-making than child brides. Child brides were more likely to be victims of violence and other types of spousal abuse in their marriages. These changes are mostly caused by an individual's age at first marriage. Delaying marriage had a large positive impact on women's empowerment at the household level, and age at first marriage had a considerable negative impact. In order to advance women's welfare and emancipation, we advise more research to concentrate on the relationship between the home and the social-structural forms that appear at the individual and communal levels.Keywords: child-bride, early marriage, women, ethiopia
Procedia PDF Downloads 663282 The Sustainable Cultural Tourism of Nakhon Si Thammarat Province in Thailand
Authors: Narong Anurak
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The objectives of the study were to determine the factors influencing tourists’ destination decision making for cultural tourism in the southern provinces, to examine the potential for developing cultural tourism and to guideline for marketing strategy for cultural tourism in Nakhon Si Thammarat. Both quantitative and qualitative data were applied in this study. The samples of 400 cases for quantitative analysis were tourists who were interested in cultural tourism in the southern provinces, and traveled to cultural sites in Nakhon Si Thammarat, Surat Thani, and Phuket, and 14 representatives from provincial tourism committee of Nakhon Si Thammarat. The study found that Thai and foreign tourists are influenced by different important marketing mix factors (7Ps) when making decisions for cultural tourism in southern provinces. The important factors for Thai respondents were physical evidence, price, people, and place at high importance level, whereas, product, process, and promotion were moderate importance level as well.Keywords: marketing mix factors, Nakhon Si Thammarat province, sustainable cultural tourism, tourists decision making
Procedia PDF Downloads 2743281 Biases in Macroprudential Supervision and Their Legal Implications
Authors: Anat Keller
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Given that macro-prudential supervision is a relatively new policy area and its empirical and analytical research are still in their infancy, its theoretical foundations are also lagging behind. This paper contributes to the developing discussion on effective legal and institutional macroprudential supervision frameworks. In the first part of the paper, it is argued that effectiveness as a key benchmark poses some challenges in the context of macroprudential supervision such as the difficulty in proving causality between supervisory actions and the achievement of the supervisor’s mission. The paper suggests that effectiveness in the macroprudential context should, therefore, be assessed at the supervisory decision-making process (to be differentiated from the supervisory outcomes). The second part of the essay examines whether insights from behavioural economics can point to biases in the macroprudential decision-making process. These biases include, inter alia, preference bias, groupthink bias and inaction bias. It is argued that these biases are exacerbated in the multilateral setting of the macroprudential supervision framework in the EU. The paper then examines how legal and institutional frameworks should be designed to acknowledge and perhaps contain these identified biases. The paper suggests that the effectiveness of macroprudential policy will largely depend on the existence of clear and robust transparency and accountability arrangements. Accountability arrangements can be used as a vehicle for identifying and addressing potential biases in the macro-prudential framework, in particular, inaction bias. Inclusiveness of the public in the supervisory process in the form of transparency and awareness of the logic behind policy decisions may assist in minimising their potential unpopularity thus promoting their effectiveness. Furthermore, a governance structure which facilitates coordination of the macroprudential supervisor with other policymakers and incorporates outside perspectives and opinions could ‘break-down’ groupthink bias as well as inaction bias.Keywords: behavioural economics and biases, effectiveness of macroprudential supervision, legal and institutional macroprudential frameworks, macroprudential decision-making process
Procedia PDF Downloads 2803280 Drivers of Digital Product Innovation in Firms: An Empirical Study of Technological, Organizational, and Environmental Factors
Authors: Anne Theresa Eidhoff, Sarah E. Stief, Markus Voeth, Sarah Gundlach
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With digitalization increasingly changing the rules of competition, firms face the need to adapt and assimilate digital technologies in order to remain competitive. Firms can choose from various possibilities to integrate digital technologies including the option to embed digital technologies aiming to innovate products or to develop digital products. However, the question of which specific factors influence a firm’s decision to pursue digital product innovation remains unanswered in research. By adopting the Technology-Organization-Environment (TOE)-framework we have designed a qualitative exploratory study including eleven German practitioners to investigate relevant contingency factors. Our results indicate that the most critical factors for a company’s decision to pursue digital product innovation can be found in the technological and environmental dimensions, namely customers, competitive pressure, technological change, as well as digitalization fit.Keywords: digital innovation, digitalization, product innovation, TOE-framework
Procedia PDF Downloads 4813279 Leveraging Power BI for Advanced Geotechnical Data Analysis and Visualization in Mining Projects
Authors: Elaheh Talebi, Fariba Yavari, Lucy Philip, Lesley Town
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The mining industry generates vast amounts of data, necessitating robust data management systems and advanced analytics tools to achieve better decision-making processes in the development of mining production and maintaining safety. This paper highlights the advantages of Power BI, a powerful intelligence tool, over traditional Excel-based approaches for effectively managing and harnessing mining data. Power BI enables professionals to connect and integrate multiple data sources, ensuring real-time access to up-to-date information. Its interactive visualizations and dashboards offer an intuitive interface for exploring and analyzing geotechnical data. Advanced analytics is a collection of data analysis techniques to improve decision-making. Leveraging some of the most complex techniques in data science, advanced analytics is used to do everything from detecting data errors and ensuring data accuracy to directing the development of future project phases. However, while Power BI is a robust tool, specific visualizations required by geotechnical engineers may have limitations. This paper studies the capability to use Python or R programming within the Power BI dashboard to enable advanced analytics, additional functionalities, and customized visualizations. This dashboard provides comprehensive tools for analyzing and visualizing key geotechnical data metrics, including spatial representation on maps, field and lab test results, and subsurface rock and soil characteristics. Advanced visualizations like borehole logs and Stereonet were implemented using Python programming within the Power BI dashboard, enhancing the understanding and communication of geotechnical information. Moreover, the dashboard's flexibility allows for the incorporation of additional data and visualizations based on the project scope and available data, such as pit design, rock fall analyses, rock mass characterization, and drone data. This further enhances the dashboard's usefulness in future projects, including operation, development, closure, and rehabilitation phases. Additionally, this helps in minimizing the necessity of utilizing multiple software programs in projects. This geotechnical dashboard in Power BI serves as a user-friendly solution for analyzing, visualizing, and communicating both new and historical geotechnical data, aiding in informed decision-making and efficient project management throughout various project stages. Its ability to generate dynamic reports and share them with clients in a collaborative manner further enhances decision-making processes and facilitates effective communication within geotechnical projects in the mining industry.Keywords: geotechnical data analysis, power BI, visualization, decision-making, mining industry
Procedia PDF Downloads 923278 Decision Support Tool for Selecting Appropriate Sustainable Rainwater Harvesting Based System in Ibadan, Nigeria
Authors: Omolara Lade, David Oloke
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The approach to water management worldwide is currently in transition, with a shift from centralised infrastructures to greater consideration of decentralised technologies, such as rainwater harvesting (RWH). However, in Nigeria, implementation of sustainable water management, such as RWH systems, is inefficient and social, environmental and technical barriers, concerns and knowledge gaps exist, which currently restrict its widespread utilisation. This inefficiency contributes to water scarcity, water-borne diseases, and loss of lives and property due to flooding. Meanwhile, several RWH technologies have been developed to improve SWM through both demand and storm-water management. Such technologies involve the use of reinforced concrete cement (RCC) storage tanks, surface water reservoirs and ground-water recharge pits as storage systems. A framework was developed to assess the significance and extent of water management problems, match the problems with existing RWH-based solutions and develop a robust ready-to-use decision support tool that can quantify the costs and benefits of implementing several RWH-based storage systems. The methodology adopted was the mixed method approach, involving a detailed literature review, followed by a questionnaire survey of household respondents, Nigerian Architects and Civil Engineers and focus group discussion with stakeholders. 18 selection attributes have been defined and three alternatives have been identified in this research. The questionnaires were analysed using SPSS, excel and selected statistical methods to derive weightings of the attributes for the tool. Following this, three case studies were modelled using RainCycle software. From the results, the MDA model chose RCC tank as the most appropriate storage system for RWH.Keywords: rainwater harvesting, modelling, hydraulic assessment, whole life cost, decision support system
Procedia PDF Downloads 3713277 Decision-Tree-Based Foot Disorders Classification Using Demographic Variable
Authors: Adel Khorramrouz, Monireh Ahmadi Bani, Ehsan Norouzi
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Background:-Due to the essential role of the foot in movement, foot disorders (FDs) have significant impacts on activity and quality of life. Many studies confirmed the association between FDs and demographic characteristics. On the other hand, recent advances in data collection and statistical analysis led to an increase in the volume of databases. Analysis of patient’s data through the decision tree can be used to explore the relationship between demographic characteristics and FDs. Significance of the study: This study aimed to investigate the relationship between demographic characteristics with common FDs. The second purpose is to better inform foot intervention, we classify FDs based on demographic variables. Methodologies: We analyzed 2323 subjects with pes-planus (PP), pes-cavus (PC), hallux-valgus (HV) and plantar-fasciitis (PF) who were referred to a foot therapy clinic between 2015 and 2021. Subjects had to fulfill the following inclusion criteria: (1) weight between 14 to 150 kilogram, (2) height between 30 to 220, (3) age between 3 to 100 years old, and (4) BMI between 12 to 35. Medical archives of 2323 subjects were recorded retrospectively and all the subjects examined by an experienced physician. Age and BMI were classified into five and four groups, respectively. 80% of the data were randomly selected as training data and 20% tested. We build a decision tree model to classify FDs using demographic characteristics. Findings: Results demonstrated 981 subjects from 2323 (41.9%) of people who were referred to the clinic with FDs were diagnosed as PP, 657 (28.2%) PC, 628 (27%) HV and 213 (9%) identified with PF. The results revealed that the prevalence of PP decreased in people over 18 years of age and in children over 7 years. In adults, the prevalence depends first on BMI and then on gender. About 10% of adults and 81% of children with low BMI have PP. There is no relationship between gender and PP. PC is more dependent on age and gender. In children under 7 years, the prevalence was twice in girls (10%) than boys (5%) and in adults over 18 years slightly higher in men (62% vs 57%). HV increased with age in women and decreased in men. Aging and obesity have increased the prevalence of PF. We conclude that the accuracy of our approach is sufficient for most research applications in FDs. Conclusion:-The increased prevalence of PP in children is probably due to the formation of the arch of the foot at this age. Increasing BMI by applying high pressure on the foot can increase the prevalence of this disorder in the foot. In PC, the Increasing prevalence of PC from women to men with age may be due to genetics and innate susceptibility of men to this disorder. HV is more common in adult women, which may be due to environmental reasons such as shoes, and the prevalence of PF in obese adult women may also be due to higher foot pressure and housekeeping activities.Keywords: decision tree, demographic characteristics, foot disorders, machine learning
Procedia PDF Downloads 2623276 Optimal Bayesian Chart for Controlling Expected Number of Defects in Production Processes
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In this paper, we develop an optimal Bayesian chart to control the expected number of defects per inspection unit in production processes with long production runs. We formulate this control problem in the optimal stopping framework. The objective is to determine the optimal stopping rule minimizing the long-run expected average cost per unit time considering partial information obtained from the process sampling at regular epochs. We prove the optimality of the control limit policy, i.e., the process is stopped and the search for assignable causes is initiated when the posterior probability that the process is out of control exceeds a control limit. An algorithm in the semi-Markov decision process framework is developed to calculate the optimal control limit and the corresponding average cost. Numerical examples are presented to illustrate the developed optimal control chart and to compare it with the traditional u-chart.Keywords: Bayesian u-chart, economic design, optimal stopping, semi-Markov decision process, statistical process control
Procedia PDF Downloads 5733275 Ethical and Personality Factors and Accounting Professional Judgement
Authors: Shannon Hashemi, Alireza Daneshfar
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Accounting ethical awareness has been widely promoted in recent years both in academia and in practice. However, the effectiveness of ethical awareness on accountants' judgment and choice of action is still debatable. This study investigates whether Machiavellianism and gender, as significant personality factors, influence the effect of ethical awareness on accountants' decision-making. Using an experiment, the results of ANOVA tests show that although introducing ethical awareness positively influences the accountants' judgment and choice of action, such an effect is significantly moderated by the accountants' Machiavellianism score and gender. Specifically, the test results show that the effect of introducing ethical awareness was higher on males with low Machiavellian score. The results also show that when the Machiavellian scores were high, the effect of ethical awareness was lower for both males and females. Applications of the results are discussed for accounting professionals as well as accounting ethics educators and researchers.Keywords: ethical awareness, accounting decision making, Machiavellianism, ANOVA, ethics, accounting education
Procedia PDF Downloads 1143274 Understanding Tacit Knowledge and DIKW
Authors: Bahadir Aydin
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Today it is difficult to reach accurate knowledge because of mass data. This huge data makes the environment more and more caotic. Data is a main piller of intelligence. There is a close tie between knowledge and intelligence. Information gathered from different sources can be modified, interpreted and classified by using knowledge development process. This process is applied in order to attain intelligence. Within this process the effect of knowledge is crucial. Knowledge is classified as explicit and tacit knowledge. Tacit knowledge can be seen as "only the tip of the iceberg”. This tacit knowledge accounts for much more than we guess in all intelligence cycle. If the concept of intelligence scrutinized, it can be seen that it contains risks, threats as well as success. The main purpose for all organization is to be succesful by eliminating risks and threats. Therefore, there is a need to connect or fuse existing information and the processes which can be used to develop it. By the help of process the decision-maker can be presented with a clear holistic understanding, as early as possible in the decision making process. Planning, execution and assessments are the key functions that connects to information to knowledge. Altering from the current traditional reactive approach to a proactive knowledge development approach would reduce extensive duplication of work in the organization. By new approach to this process, knowledge can be used more effectively.Keywords: knowledge, intelligence cycle, tacit knowledge, KIDW
Procedia PDF Downloads 5193273 Surveying the Effect of Cybernetics on Knowledge Management from Users' Viewpoint Who Are Members of Electronic Discussion Groups (ALA, ALIA)
Authors: Mitra Ghiasi, Roghayeh Ghorbani Bousari
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Nowadays, the aim of the organizations is to gain sustainable competitive. So, developing their intellectual capital, encouraging innovation, increasing suitable performance can be done by knowledge management. Knowledge turns into science if knowledge is used to improve decision making, decision quality and make effective decisions. The current research intends to investigate the relationship between cybernetics and knowledge management from the perspective of users who are members of electronic discussion groups (ALA, ALIA). The research methodology is survey method, and it is a type of correlation research. Cybernetics and knowledge management questionnaires used for collecting data. The questionnaire that was designed in electronic format, distributed among two electronic discussion groups during 30 days and completed by 100 members of each electronic discussion groups. The finding of this research showed that although cybernetics has an impact on knowledge management, there is no significant difference between the ALA and ALIA user's view regard to effect of cybernetics on knowledge management. The results also indicated that this conceptual model is consistent with the data collected from the sample.Keywords: ALA discussion group, ALIA discussion group, cybernetics, knowledge management
Procedia PDF Downloads 2393272 Nudging the Criminal Justice System into Listening to Crime Victims in Plea Agreements
Authors: Dana Pugach, Michal Tamir
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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
Procedia PDF Downloads 3223271 A Bayesian Classification System for Facilitating an Institutional Risk Profile Definition
Authors: Roman Graf, Sergiu Gordea, Heather M. Ryan
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This paper presents an approach for easy creation and classification of institutional risk profiles supporting endangerment analysis of file formats. The main contribution of this work is the employment of data mining techniques to support set up of the most important risk factors. Subsequently, risk profiles employ risk factors classifier and associated configurations to support digital preservation experts with a semi-automatic estimation of endangerment group for file format risk profiles. Our goal is to make use of an expert knowledge base, accuired through a digital preservation survey in order to detect preservation risks for a particular institution. Another contribution is support for visualisation of risk factors for a requried dimension for analysis. Using the naive Bayes method, the decision support system recommends to an expert the matching risk profile group for the previously selected institutional risk profile. The proposed methods improve the visibility of risk factor values and the quality of a digital preservation process. The presented approach is designed to facilitate decision making for the preservation of digital content in libraries and archives using domain expert knowledge and values of file format risk profiles. To facilitate decision-making, the aggregated information about the risk factors is presented as a multidimensional vector. The goal is to visualise particular dimensions of this vector for analysis by an expert and to define its profile group. The sample risk profile calculation and the visualisation of some risk factor dimensions is presented in the evaluation section.Keywords: linked open data, information integration, digital libraries, data mining
Procedia PDF Downloads 4263270 Evaluation Framework for Investments in Rail Infrastructure Projects
Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki
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Transport infrastructures are high-cost, long-term investments that serve as vital foundations for the operation of a region or nation and are essential to a country’s or business’s economic development and prosperity, by improving well-being and generating jobs and income. The development of appropriate financing options is of key importance in the decision making process in order develop viable transport infrastructures. The development of transport infrastructure has increasingly been shifting toward alternative methods of project financing such as Public Private Partnership (PPPs) and hybrid forms. In this paper, a methodological decision-making framework based on the evaluation of the financial viability of transportation infrastructure for different financial schemes is presented. The framework leads to an assessment of the financial viability which can be achieved by performing various financing scenarios analyses. To illustrate the application of the proposed methodology, a case study of rail transport infrastructure financing scenario analysis in Greece is developed.Keywords: rail transport infrastructure, financial viability, scenario analysis, rail project feasibility
Procedia PDF Downloads 2783269 Exploring the Situational Approach to Decision Making: User eConsent on a Health Social Network
Authors: W. Rowan, Y. O’Connor, L. Lynch, C. Heavin
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Situation Awareness can offer the potential for conscious dynamic reflection. In an era of online health data sharing, it is becoming increasingly important that users of health social networks (HSNs) have the information necessary to make informed decisions as part of the registration process and in the provision of eConsent. This research aims to leverage an adapted Situation Awareness (SA) model to explore users’ decision making processes in the provision of eConsent. A HSN platform was used to investigate these behaviours. A mixed methods approach was taken. This involved the observation of registration behaviours followed by a questionnaire and focus group/s. Early results suggest that users are apt to automatically accept eConsent, and only later consider the long-term implications of sharing their personal health information. Further steps are required to continue developing knowledge and understanding of this important eConsent process. The next step in this research will be to develop a set of guidelines for the improved presentation of eConsent on the HSN platform.Keywords: eConsent, health social network, mixed methods, situation awareness
Procedia PDF Downloads 2923268 Music Piracy Revisited: Agent-Based Modelling and Simulation of Illegal Consumption Behavior
Authors: U. S. Putro, L. Mayangsari, M. Siallagan, N. P. Tjahyani
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National Collective Management Institute (LKMN) in Indonesia stated that legal music products were about 77.552.008 unit while illegal music products were about 22.0688.225 unit in 1996 and this number keeps getting worse every year. Consequently, Indonesia named as one of the countries with high piracy levels in 2005. This study models people decision toward unlawful behavior, music content piracy in particular, using agent-based modeling and simulation (ABMS). The classification of actors in the model constructed in this study are legal consumer, illegal consumer, and neutral consumer. The decision toward piracy among the actors is a manifestation of the social norm which attributes are social pressure, peer pressure, social approval, and perceived prevalence of piracy. The influencing attributes fluctuate depending on the majority of surrounding behavior called social network. There are two main interventions undertaken in the model, campaign and peer influence, which leads to scenarios in the simulation: positively-framed descriptive norm message, negatively-framed descriptive norm message, positively-framed injunctive norm with benefits message, and negatively-framed injunctive norm with costs message. Using NetLogo, the model is simulated in 30 runs with 10.000 iteration for each run. The initial number of agent was set 100 proportion of 95:5 for illegal consumption. The assumption of proportion is based on the data stated that 95% sales of music industry are pirated. The finding of this study is that negatively-framed descriptive norm message has a worse reversed effect toward music piracy. The study discovers that selecting the context-based campaign is the key process to reduce the level of intention toward music piracy as unlawful behavior by increasing the compliance awareness. The context of Indonesia reveals that that majority of people has actively engaged in music piracy as unlawful behavior, so that people think that this illegal act is common behavior. Therefore, providing the information about how widespread and big this problem is could make people do the illegal consumption behavior instead. The positively-framed descriptive norm message scenario works best to reduce music piracy numbers as it focuses on supporting positive behavior and subject to the right perception on this phenomenon. Music piracy is not merely economical, but rather social phenomenon due to the underlying motivation of the actors which has shifted toward community sharing. The indication of misconception of value co-creation in the context of music piracy in Indonesia is also discussed. This study contributes theoretically that understanding how social norm configures the behavior of decision-making process is essential to breakdown the phenomenon of unlawful behavior in music industry. In practice, this study proposes that reward-based and context-based strategy is the most relevant strategy for stakeholders in music industry. Furthermore, this study provides an opportunity that findings may generalize well beyond music piracy context. As an emerging body of work that systematically constructs the backstage of law and social affect decision-making process, it is interesting to see how the model is implemented in other decision-behavior related situation.Keywords: music piracy, social norm, behavioral decision-making, agent-based model, value co-creation
Procedia PDF Downloads 1873267 The Evaluation of Child Maltreatment Severity and the Decision-Making Processes in the Child Protection System
Authors: Maria M. Calheiros, Carla Silva, Eunice Magalhães
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Professionals working in child protection services (CPS) need to have common and clear criteria to identify cases of maltreatment and to differentiate levels of severity in order to determine when CPS intervention is required, its nature and urgency, and, in most countries, the service that will be in charge of the case (community or specialized CPS). Actually, decision-making process is complex in CPS, and, for that reason, such criteria are particularly important for who significantly contribute to that decision-making in child maltreatment cases. The main objective of this presentation is to describe the Maltreatment Severity Assessment Questionnaire (MSQ), specifically designed to be used by professionals in the CPS, which adopts a multidimensional approach and uses a scale of severity within subtypes. Specifically, we aim to provide evidence of validity and reliability of this tool, in order to improve the quality and validity of assessment processes and, consequently, the decision making in CPS. The total sample was composed of 1000 children and/or adolescents (51.1% boys), aged between 0 and 18 years old (M = 9.47; DP = 4.51). All the participants were referred to official institutions of the children and youth protective system. Children and adolescents maltreatment (abuse, neglect experiences and sexual abuse) were assessed with 21 items of the Maltreatment Severity Questionnaire (MSQ), by professionals of CPS. Each item (sub-type) was composed of four descriptors of increasing severity. Professionals rated the level of severity, using a 4-point scale (1= minimally severe; 2= moderately severe; 3= highly severe; 4= extremely severe). The construct validity of the Maltreatment Severity Questionnaire was assessed with a holdout method, performing an Exploratory Factor Analysis (EFA) followed by a Confirmatory Factor Analysis (CFA). The final solution comprised 18 items organized in three factors 47.3% of variance explained. ‘Physical neglect’ (eight items) was defined by parental omissions concerning the insurance and monitoring of the child’s physical well-being and health, namely in terms of clothing, hygiene, housing conditions and contextual environmental security. ‘Physical and Psychological Abuse’ (four items) described abusive physical and psychological actions, namely, coercive/punitive disciplinary methods, physically violent methods or verbal interactions that offend and denigrate the child, with the potential to disrupt psychological attributes (e.g., self-esteem). ‘Psychological neglect’ (six items) involved omissions related to children emotional development, mental health monitoring, school attendance, development needs, as well as inappropriate relationship patterns with attachment figures. Results indicated a good reliability of all the factors. The assessment of child maltreatment cases with MSQ could have a set of practical and research implications: a) It is a valid and reliable multidimensional instrument to measure child maltreatment, b) It is an instrument integrating the co-occurrence of various types of maltreatment and a within-subtypes scale of severity; c) Specifically designed for professionals, it may assist them in decision-making processes; d) More than using case file reports to evaluate maltreatment experiences, researchers could guide more appropriately their research about determinants and consequences of maltreatment.Keywords: assessment, maltreatment, children and youth, decision-making
Procedia PDF Downloads 2903266 Effective Citizen Participation in Local Government Decision-Making and Democracy
Authors: Ali Zaimi
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Citizen participation in local government is an opportunity given to citizens and government to increase communication between them, create public support for local government plans and most important grow public trust in government. Also, the citizens’ involvement in the political process is an important part of democracy. This study aims to define the strategies for increasing citizen participation in local governance and concentrated in two important mechanisms such as participatory budget and public policy councils. Three strategies that promote more effective citizen involvement in local governance are understanding and using formal institutions of power, collaboration of citizens’ groups and governments officials to jointly formulate programs plans, electing and appointing local officials. A unique aspect of citizen participation to operate effectively is the transparency of government and the inclusion of actors into decision-making. The citizen engagement in local governance enhances accountability and problem solving, promote more inclusive and cohesive communities and enlarge the quality and quantity of initiatives made by communities.Keywords: accountability, citizen participation, democracy, government
Procedia PDF Downloads 2653265 Chronolgy and Developments in Inventory Control Best Practices for FMCG Sector
Authors: Roopa Singh, Anurag Singh, Ajay
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Agriculture contributes a major share in the national economy of India. A major portion of Indian economy (about 70%) depends upon agriculture as it forms the main source of income. About 43% of India’s geographical area is used for agricultural activity which involves 65-75% of total population of India. The given work deals with the Fast moving Consumer Goods (FMCG) industries and their inventories which use agricultural produce as their raw material or input for their final product. Since the beginning of inventory practices, many developments took place which can be categorised into three phases, based on the review of various works. The first phase is related with development and utilization of Economic Order Quantity (EOQ) model and methods for optimizing costs and profits. Second phase deals with inventory optimization method, with the purpose of balancing capital investment constraints and service level goals. The third and recent phase has merged inventory control with electrical control theory. Maintenance of inventory is considered negative, as a large amount of capital is blocked especially in mechanical and electrical industries. But the case is different in food processing and agro-based industries and their inventories due to cyclic variation in the cost of raw materials of such industries which is the reason for selection of these industries in the mentioned work. The application of electrical control theory in inventory control makes the decision-making highly instantaneous for FMCG industries without loss in their proposed profits, which happened earlier during first and second phases, mainly due to late implementation of decision. The work also replaces various inventories and work-in-progress (WIP) related errors with their monetary values, so that the decision-making is fully target-oriented.Keywords: control theory, inventory control, manufacturing sector, EOQ, feedback, FMCG sector
Procedia PDF Downloads 3533264 Understanding Racial Disparate Treatment of Juvenile Interpersonal Violent Offenders in the Juvenile Justice System Using Focal Concerns Theory
Authors: Suzanne Overstreet-Juenke
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Disproportionate minority contact (DMC) is a salient issue that has been found at every stage of the decision-making process in the juvenile justice system. Existing research indicates that DMC influences adjudication for drug, property, and personal crimes. Because intimate partner violence (IPV) is a major public health problem and global concern, the current study examines DMC at adjudication among youth charged for crimes of interpersonal violence. This research uses administrative, Court Designated Worker (CDW) data collected from 2014 to 2016. The results are contextualized using Steffensmeier’s version of focal concerns theory of judicial decision-making. This study assesses race and two seriousness of offense measures to establish whether a link exists between race and adjudication. The results of the study is similar to prior research on the topic. These results are discussed in terms of policy implications, limitations, and future research.Keywords: race, disproportionate minority contact, focal concerns theory, juvenile
Procedia PDF Downloads 763263 The Strategic Role of Accommodation Providers in Encouraging Travelers to Adopt Environmentally-Friendly Modes of Transportation: An Experiment from France
Authors: Luc Beal
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Introduction. Among the stakeholders involved in the tourist decision-making process, the accommodation provider has the potential to play a crucial role in raising awareness, disseminating information, and thus influencing the tourists’ choice of transportation. Since the early days of tourism, the accommodation provider has consistently served as the primary point of contact with the destination, and consequently, as the primary source of information for visitors. By offering accommodation and hospitality, the accommodation provider has evolved into a trusted third party, functioning as an 'ambassador' capable of recommending the finest attractions and activities available at the destination. In contemporary times, when tourists plan their trips, they make a series of consecutive decisions, with the most important decision being to lock-in the accommodation reservation for the earliest days, so as to secure a safe arrival. Consequently, tourists place their trust in the accommodation provider not only for lodging but also for recommendations regarding restaurants, activities, and more. Thus, the latter has the opportunity to inform and influence tourists well in advance of their arrival, particularly during the booking phase, namely when it comes to selecting their mode of transportation. The pressing need to reduce greenhouse gas emissions within the tourism sector presents an opportunity to underscore the influence that accommodation providers have historically exerted on tourist decision-making . Methodology A participatory research, currently ongoing in south-western France, in collaboration with a nationwide hotel group and several destination management organizations, aims at examining the factors that determine the ability of accommodation providers to influence tourist transportation choices. Additionally, the research seeks to identify the conditions that motivate accommodation providers to assume a proactive role, such as fostering customer loyalty, reduced distribution costs, and financial compensation mechanisms. A panel of hotels participated in a series of focus group sessions with tourists, with the objective of modeling the decision-making process of tourists regarding their choice of transportation mode and to identify and quantify the types and levels of incentives liable to encourage environmentally responsible choices. Individual interviews were also conducted with hotel staff, including receptionists and guest relations officers, to develop a framework for interactions with tourists during crucial decision-making moments related to transportation choices. The primary finding of this research indicates that financial incentives significantly outweigh symbolic incentives in motivating tourists to opt for eco-friendly modes of transportation. Another noteworthy result underscores the crucial impact of organizational conditions governing interactions with tourists both before and during their stay. These conditions greatly influence the ability to raise awareness at key decision-making moments and the possibility of gathering data about the chosen transportation mode during the stay. In conclusion, this research has led to the formulation of practical recommendations for accommodation providers and Destination Marketing Organizations (DMOs). These recommendations pertain to communication protocols with tourists, the collection of evidences confirming chosen transportation modes, and the implementation of necessary incentives. Through these measures, accommodation provider can assume a central role in guiding tourists towards making responsible choices in terms of transportation.Keywords: accommodation provider, trusted third party, environmentally-friendly transportation, green house gas, tourist decision-making process
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