Search results for: loan decisions

Authors: Tobias Milz, L. Macpherson, Varvara Vetrova

Abstract:

The law is a fundamental pillar of human societies as it shapes, controls and governs how humans conduct business, behave and interact with each other. Recent advances in computer-assisted technologies such as NLP, data science and AI are creating opportunities to support the practice, research and study of this pervasive domain. It is therefore not surprising that there has been an increase in investments into supporting technologies for the legal industry (also known as “legal tech” or “law tech”) over the last decade. A sub-discipline of particular appeal is concerned with assisted legal research. Supporting law researchers and practitioners to retrieve information from the vast amount of ever-growing legal documentation is of natural interest to the legal research community. One tool that has been in use for this purpose since the early nineteenth century is legal citation indexing. Among other use cases, they provided an effective means to discover new precedent cases. Nowadays, computer-assisted network analysis tools can allow for new and more efficient ways to reveal the “hidden” information that is conveyed through citation behavior. Unfortunately, access to openly available legal data is still lacking in New Zealand and access to such networks is only commercially available via providers such as LexisNexis. Consequently, there is a need to create, analyze and provide a legal citation network with sufficient data to support legal research tasks. This paper describes the development and analysis of a legal citation Network for New Zealand containing over 300.000 decisions from 125 different courts of all areas of law and jurisdiction. Using python, the authors assembled web crawlers, scrapers and an OCR pipeline to collect and convert court decisions from openly available sources such as NZLII into uniform and machine-readable text. This facilitated the use of regular expressions to identify references to other court decisions from within the decision text. The data was then imported into a graph-based database (Neo4j) with the courts and their respective cases represented as nodes and the extracted citations as links. Furthermore, additional links between courts of connected cases were added to indicate an indirect citation between the courts. Neo4j, as a graph-based database, allows efficient querying and use of network algorithms such as PageRank to reveal the most influential/most cited courts and court decisions over time. This paper shows that the in-degree distribution of the New Zealand legal citation network resembles a power-law distribution, which indicates a possible scale-free behavior of the network. This is in line with findings of the respective citation networks of the U.S. Supreme Court, Austria and Germany. The authors of this paper provide the database as an openly available data source to support further legal research. The decision texts can be exported from the database to be used for NLP-related legal research, while the network can be used for in-depth analysis. For example, users of the database can specify the network algorithms and metrics to only include specific courts to filter the results to the area of law of interest.

Keywords: case citation network, citation analysis, network analysis, Neo4j

Procedia PDF Downloads 106

Authors: Corina E. Niculaescu, Ivan Sangiorgi, Adrian R. Bell

Abstract:

The COVID-19 pandemic has been life-changing in many aspects of people’s daily and social lives, but has it also changed attitudes towards investments? This paper explores the effect of the COVID-19 pandemic on retail investors’ levels of investments in the U.S. during the first COVID-19 wave in summer 2020. This is an unprecedented health crisis, which could lead to changes in investment behavior, including irrational behavior in retail investors. As such, this study aims to inform policymakers of what happened to investment decisions during the COVID-19 pandemic so that they can protect retail investors during extreme events like a global health crisis. The study aims to answer two research questions. First, was the level of investments affected by the COVID-19 pandemic, and if so, why? Second, how were investments affected by retail investors’ personal experience with COVID-19? The research analysis is based on primary survey data collected on the Amazon Mechanical Turk platform from a representative sample of U.S. respondents. Responses were collected between the 15th of July and 28th of August 2020 from 1,148 U.S. retail investors who hold mutual fund investments and a savings account. The research explores whether being affected by COVID-19, change in the level of savings, and risk capacity can explain the change in the level of investments by using regression analysis. The dependent variable is changed in investments measured as decrease, no change, and increase. For this reason, the methodology used is ordered probit regression models. The results show that retail investors in the U.S. increased their investments during the first wave of COVID-19, which is unexpected as investors are usually more cautious in crisis times. Moreover, the study finds that those who were affected personally by COVID-19 (e.g., tested positive) were more likely to increase their investments, which is irrational behavior and contradicts expectations. An increase in the level of savings and risk capacity was also associated with increased investments. Overall, the findings show that having personal experience with a health crisis can have an impact on one’s investment decisions as well. Those findings are important for both retail investors and policymakers, especially now that online trading platforms have made trading easily accessible to everyone. There are risks and potential irrational behaviors associated with investment decisions during times of crisis, and it is important that retail investors are aware of them before making financial decisions.

Keywords: COVID-19, financial decision-making, health crisis retail investors, survey

Procedia PDF Downloads 192

Authors: Burcu Akyildiz, Cigdem Kadaifci, Y. Ilker Topcu, Burc Ulengin

Abstract:

In today’s business environment, companies should make strategic decisions to gain sustainable competitive advantage. Order selection is a crucial issue among these decisions especially for steel production industry. When the companies allocate a high proportion of their design and production capacities to their ongoing projects, determining which customer order should be chosen among the potential orders without exceeding the remaining capacity is the major critical problem. In this study, it is aimed to identify and prioritize the evaluation factors for the customer order selection problem. Conjoint analysis is used to examine the importance level of each factor which is determined as the potential profit rate per unit of time, the compatibility of potential order with available capacity, the level of potential future order with higher profit, customer credit of future business opportunity, and the negotiability level of production schedule for the order.

Keywords: conjoint analysis, order prioritization, profit management, structural steel firm

Procedia PDF Downloads 384

Authors: Tulio Sulbaran, Sandeep Langar

Abstract:

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

Procedia PDF Downloads 328

Authors: David Yartel, Johnmark Ampomah Mensah Fobi, Ernest Yeboah Acheampong, Sintim Musah

Abstract:

Football has gone through a series of technological reforms targeted at improving the game for its audience. Yet, promote sanity of the game led to the introduction of the video assistant referee (VAR) to ‘check’ or ‘review’ an incident to clarify incidents and communicate the outcome to the referee and the fans. This is to reduce controversies regarding incidents on the pitch of play. In this study, we seek to survey the views of football fans to understand their perception of the video assistant referee, whether it has brought sanity or reduce the uncertainty regarding the decisions after reviews. The exploratory study focuses on 420 fans arbitrarily sampled on the university campuses to answer questionnaires based on the introduction of the video assistant referee. Results show that the VAR has interrupted the flow of the game, dropping passion, increased controversies including decisions from the referees’ call room leading to ensuing fans conflict, especially when it is against their team and vice versa. The study concludes by addressing some of their concerns as the VAR has come to minimise perceptions of incidents and engender fairness for teams.

Keywords: football fans, football incidents, football match, video assistant referee, technology

Procedia PDF Downloads 143

Authors: Katharina Fellnhofer

Abstract:

The more information and knowledge that technology provides, the more important are profoundly human skills like intuition, the skill of using nonconscious information. As our world becomes more complex, shaken by crises, and characterized by uncertainty, time pressure, ambiguity, and rapidly changing conditions, intuition is increasingly recognized as a key human asset. However, due to methodological limitations of sample size or time frame or a lack of real-world or cross-cultural scope, precisely how to measure intuition when facing risks on a nonconscious level remains unclear. In light of the measurement challenge related to intuition’s nonconscious nature, a technique is introduced to measure intuition via hidden images as nonconscious additional information to trigger intuition. This technique has been tested in a within-subject fully online design with 62,721 real-world investment decisions made by 657 subjects in Europe and the United States. Bayesian models highlight the technique’s potential to measure skill at using nonconscious information for conscious decision making. Over the long term, solving the mysteries of intuition and mastering its use could be of immense value in personal and organizational decision-making contexts.

Keywords: cognition, intuition, investment decisions, methodology

Procedia PDF Downloads 86

Authors: Swarna Pundir, Prabuddha Hans

Abstract:

As AI has already stepped into the daily life of human society, one cannot be ignorant about the data it collects and used it to provide a quality of services depending up on the individuals’ choices. It also helps in giving option for making decision Vs choice selection with a calculation based on the history of our search criteria. Over the past decade or so, the way Artificial Intelligence (AI) has impacted society is undoubtedly large.AI has changed the way we shop, the way we entertain and challenge ourselves, the way information is handled, and has automated some sections of our life. We have answered as to what AI is, but not why one may see it as useful. AI is useful because it is capable of learning and predicting outcomes, using Machine Learning (ML) and Deep Learning (DL) with the help of Artificial Neural Networks (ANN). AI can also be a system that can act like humans. One of the major impacts be Joblessness through automation via AI which is seen mostly in manufacturing sectors, especially in the routine manual and blue-collar occupations and those without a college degree. It raises some serious concerns about AI in regards of less employment, ethics in making moral decisions, Individuals privacy, human judgement’s, natural emotions, biased decisions, discrimination. So, the question is if an error occurs who will be responsible, or it will be just waved off as a “Machine Error”, with no one taking the responsibility of any wrongdoing, it is essential to form some rules for using the AI where both machines and humans are involved.

Keywords: AI, ML, DL, ANN

Procedia PDF Downloads 97

Authors: Sara Sousa

Abstract:

The environmental goods and services have often been neglected in crucial decisions affecting the environment mainly because the difficulty in estimating their economic value, since we are dealing with non-market goods and, thus, without a price associated. Nevertheless, the inexistence of prices does not necessarily mean these goods have no value. The environment is a key element in today's society that seeks to be as sustainable as possible, where the environmental assets have both use and non-use values. To estimate the use value, researchers may apply the revealed preference methods. This paper provides a theoretical review of the main concepts and methodologies on the economic valuation of the environment, with particular emphasis on the revealed preference techniques. Based on a detailed literature review, this study concludes that, despite some inherent limitations, the revealed preference methodologies – travel cost, hedonic price, and averting behaviour – represent essential tools for the researchers who accept the challenge to estimate the use value of environmental goods and services based on the actual individuals` behaviour. The main purpose of this study is to contribute to an increased theoretical information on the economic valuation of environmental assets, allowing researchers and policymakers to improve future decisions regarding the environment.

Keywords: economic valuation, environmental goods, revealed preference methods, total economic value

Procedia PDF Downloads 130

Authors: A. Alem, Y. Dahmani, A. Hadjali, A. Boualem

Abstract:

Managing the problem of the conflict, either by using the Dempster-Shafer theory, or by the application of the fusion process to push researchers in recent years to find ways to get to make best decisions especially; for information systems, vision, robotic and wireless sensor networks. In this paper we are interested to take account of the conflict in the combination step that took the conflict into account and tries to manage such a way that it does not influence the decision step, the conflict what from reliable sources. According to [1], the conflict lead to erroneous decisions in cases where was with strong degrees between sources of information, if the conflict is more than the maximum of the functions of belief mass K > max1...n (mi (A)), then the decision becomes impossible. We will demonstrate in this paper that the multiplication of mass functions by coefficients of reliability is a decreasing function; it leads to the reduction of conflict and a good decision. The definition of reliability coefficients accurately and multiply them by the mass functions of each information source to resolve the conflict and allow deciding whether the degree of conflict. The evaluation of this technique is done by a use case; a comparison of the combination of springs with a maximum conflict without, and with reliability coefficients.

Keywords: Dempster-Shafer theory, fusion process, conflict managing, reliability factors, decision

Procedia PDF Downloads 426

Authors: A. Bolaji Adesoye, Alimi Olorunfemi

Abstract:

This paper examines the impact of small and medium-scale enterprises (SMEs) credit financing and financial market development and their shocks on the output growth of Nigeria. The study estimated a VAR model for Nigeria using 1970-2013 annual data series. Unit root tests and cointegration are carried out. The study also explores IRFs and FEVDs in a system that includes output, commercial bank loan to SMEs, domestic credit to private sector by banks, money supply, lending rate and investment. Findings suggest that shocks in commercial bank credit to SMEs has a major impact on the output changes of Nigeria. Money supply shocks also have a sizeable impact on output growth variations amidst other financial instruments. Lastly, neutrality of investment does not hold in Nigeria as it also has impact on output fluctuations.

Keywords: SMEs financing, financial development, investment, output, Nigeria

Procedia PDF Downloads 408

Authors: Ali A. Abdollahi

Abstract:

During the last several decades, scientists have consistently applied Multiple Criteria Decision-Making methods in making decisions about multi-faceted, complicated subjects. While making such decisions and in order to achieve more accurate evaluations, they have regularly used a variety of criteria instead of applying just one Optimum Evaluation Criterion. The method presented here utilizes both ‘quantity’ and ‘quality’ to assess the function of the Multiple-Criteria method. Applying Data envelopment analysis (DEA), weighted aggregated sum product assessment (WASPAS), Weighted Sum Approach (WSA), Analytic Network Process (ANP), and Charnes, Cooper, Rhodes (CCR) methods, we have analyzed thirteen parks in Kerman city. It further indicates that the functions of WASPAS and WSA are compatible with each other, but also that their deviation from DEA is extensive. Finally, the results for the CCR technique do not match the results of the DEA technique. Our study indicates that the ANP method, with the average rate of 1/51, ranks closest to the DEA method, which has an average rate of 1/49.

Keywords: multiple criteria decision making, Data envelopment analysis (DEA), Charnes Cooper Rhodes (CCR), Weighted Sum Approach (WSA)

Procedia PDF Downloads 217

Authors: Saeed Sayyad Hagh Shomar

Abstract:

Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using questionnaire of stated preference models users’ departure time choice affected by congestion pricing plan in downtown Tehran. Experimental results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: modeling, departure time, travel timing, time of the day, congestion pricing, transportation planning

Procedia PDF Downloads 433

Authors: Romina Beqiri

Abstract:

In the context of the prosecution of those responsible for the commission of the most hideous crimes and the fight against impunity, a fundamental role is played by witnesses of the crimes who contribute to ascertaining the ‘procedural truth’. This article examines recent decisions and legislation of the Hague-based International Criminal Court in terms of the endangerment of the integrity of the criminal proceedings in consequence of witness tampering. The analysis focuses on the new developments in the courtroom and the academia, in particular, on the first-ever sentence confirming the charges of corruptly influencing witnesses, interpretation of presenting false evidence and giving false testimony when under an obligation to tell the truth. Confronted with recent tampering with witnesses and their credibility at stake in the ongoing cases, the research explores different Court’s decisions and scholars’ legal disputes concerning the deterrence approach to punish the authors of offences against the administration of justice when committed intentionally. Therefore, the analysis concludes that the Court cannot tolerate any witness false testimony and should enhance consistency and severity of sanctions for the sake of fair trial and end impunity.

Keywords: International Criminal Court, administration of justice, credibility of witness, fair trial, false testimony, witness tampering

Procedia PDF Downloads 170

Authors: Yongjian Du, Jinhua Sun, Kim M. Liew, Huahua Xiao

Abstract:

Optimal allocation of emergency resources before a disaster is of great importance for emergency response. In reality, the pre-protection for a single critical node where accidents may occur is common. In this study, a model is developed to determine location and inventory decisions of multiple emergency resources among a set of candidate stations to minimize the total cost based on the constraints of budgetary and capacity. The total cost includes the economic accident loss which is accorded with probability distribution of time and the warehousing cost of resources which is increasing over time. A ratio is set to measure the degree of a storage station only serving the target node that becomes larger with the decrease of the distance between them. For the application of linear program, it is assumed that the length of travel time to the accident scene of emergency resources has a linear relationship with the economic accident loss. A computational experiment is conducted to illustrate how the proposed model works, and the results indicate its effectiveness and practicability.

Keywords: emergency response, integer linear program, multiple emergency resources, pre-allocation decisions, single potential accident node

Procedia PDF Downloads 153

Authors: Jair Servín-Aguilar, Yu Tang

Abstract:

We address the problem of robust attitude tracking for agile satellites under unknown bounded torque disturbances using a double-gimbal variable-speed control-moment gyro (DGVSCMG) driven by a cluster of three permanent magnet synchronous motors (PMSMs). Uniform practical asymptotic stability is achieved at the torque control level first. The desired speed of gimbals and the acceleration of the spin wheel to produce the required torque are then calculated by a velocity-based steering law and tracked at the PMSM speed-control level by designing a speed-tracking controller with compensation for the vibration caused by eccentricity and imbalance due to mechanical imperfection in the DGVSCMG. Uniform practical asymptotic stability of the overall system is ensured by loan relying on the analysis of the resulting cascaded system. Numerical simulations are included to show the performance improvement of the proposed controller.

Keywords: agile satellites, vibration compensation, internal model, stability

Procedia PDF Downloads 114

Authors: Thiago R. Pereira

Abstract:

The philosophical hermeneutics is able to change the Brazilian Judiciary because of the understanding of the characteristics of the human being. It is impossible for humans, to be invested in the function of being a judge, making absolutely neutral decisions, but the philosophical hermeneutics can assist the judge making impartial decisions, based on the federal constitution. The normative legal positivism imagined a neutral judge, a judge able to try without any preconceived ideas, without allowing his/her background to influence him/her. When a judge arbitrates based on legal rules, the problem is smaller, but when there are no clear legal rules, and the judge must try based on principles, the risk of the decision is based on what they believe in. Solipsistically, this issue gains a huge dimension. Today, the Brazilian judiciary is independent, but there must be a greater knowledge of philosophy and the philosophy of law, partially because the bigger problem is the unpredictability of decisions made by the judiciary. Actually, when a lawsuit is filed, the result of this judgment is absolutely unpredictable. It is almost a gamble. There must be the slightest legal certainty and predictability of judicial decisions, so that people, with similar cases, may not receive opposite sentences. The relativism, since classical antiquity, believes in the possibility of multiple answers. Since the Greeks in in the sixth century before Christ, through the Germans in the eighteenth century, and even today, it has been established the constitution as the great law, the Groundnorm, and thus, the relativism of life can be greatly reduced when a hermeneut uses the Constitution as North interpretational, where all interpretation must act as the hermeneutic constitutional filter. For a current philosophy of law, that inside a legal system with a Federal Constitution, there is a single correct answer to a specific case. The challenge is how to find this right answer. The only answer to this question will be that we should use the constitutional principles. But in many cases, a collision between principles will take place, and to resolve this issue, the judge or the hermeneut will choose a solipsism way, using what they personally believe to be the right one. For obvious reasons, that conduct is not safe. Thus, a theory of decision is necessary to seek justice, and the hermeneutic philosophy and the linguistic turn will be necessary for one to find the right answer. In order to help this difficult mission, it will be necessary to use philosophical hermeneutics in order to find the right answer, which is the constitutionally most appropriate response. The constitutionally appropriate response will not always be the answer that individuals agree to, but we must put aside our preferences and defend the answer that the Constitution gives us. Therefore, the hermeneutics applied to Law, in search constitutionally appropriate response, should be the safest way to avoid judicial individual decisions. The aim of this paper is to present the science of law starting from the linguistic turn, the philosophical hermeneutics, moving away from legal positivism. The methodology used in this paper is qualitative, academic and theoretical, philosophical hermeneutics with the mission to conduct research proposing a new way of thinking about the science of law. The research sought to demonstrate the difficulty of the Brazilian courts to depart from the secular influence of legal positivism. Moreover, the research sought to demonstrate the need to think science of law within a contemporary perspective, where the linguistic turn, philosophical hermeneutics, will be the surest way to conduct the science of law in the present century.

Keywords: hermeneutic, right answer, solipsism, Brazilian judiciary

Procedia PDF Downloads 350

Authors: Thorsten Auer, Sumaya Islam, Sabrina Plaß, Colin Wooldridge

Abstract:

Whether individuals are more likely to forgo some ethical values if it is for a “great” social mission remains questionable. Research interest in the mechanism of moral disengagement has risen sharply in the organizational context over the last decades. Moral disengagement provides an explanatory approach to why individuals decide against their moral intent and describes the tendency to make unethical decisions due to a lack of self-regulation given various actions and their consequences. In our study, we examine the differences between individual decision-making given a commercial and social entrepreneurial context. Thereby, we investigate whether individuals in a social entrepreneurial context, characterized by pro-social goals and purpose beyond profit maximization, tend to make more or less “unethical” decisions in trade-off situations than those given a profit-focused commercial, entrepreneurial context. While a general priming effect may explain the tendency for individuals to make less unethical decisions given a social context, it remains unclear how individuals decide given a trade-off in that specific context. The trade-off in our study is characterized by the option to decide (un-) ethically to enhance the business purpose (in the social context, a social purpose, in the commercial context, a profit-maximization purpose). To investigate which characteristics of the context –and specifically of a trade-off – lead individuals to disregard and override their ethical values for a “greater good”, we design a conjoint analysis. This approach allows us to vary the attributes and scenarios and to test which attributes of a trade-off increase the probability of making an unethical choice. We add survey data to examine the individual propensity to morally disengage as an influencing factor to prefer certain attributes. Currently, we are in the final process of designing the conjoint analysis and plan to conduct the study by December 2022. We contribute to a better understanding of the role of moral disengagement in individual decision-making in a (social) entrepreneurial trade-off.

Keywords: moral disengagement, social entrepreneurship, unethical decision, conjoint analysis

Procedia PDF Downloads 87

Authors: Hossein Afzali

Abstract:

Increasingly, decision analytic models are used to inform decisions about whether or not to publicly fund new health technologies. It is well noted that the accuracy of model predictions is strongly influenced by the appropriateness of model structuring. However, there is relatively inadequate methodological guidance surrounding this issue in guidelines developed by national funding bodies such as the Australian Pharmaceutical Benefits Advisory Committee (PBAC) and The National Institute for Health and Care Excellence (NICE) in the UK. This presentation aims to discuss issues around model structuring within decision making with a focus on (1) the need for a transparent and evidence-based model structuring process to inform the most appropriate set of structural aspects as the base case analysis; (2) the need to characterise structural uncertainty (If there exist alternative plausible structural assumptions (or judgements), there is a need to appropriately characterise the related structural uncertainty). The presentation will provide an opportunity to share ideas and experiences on how the guidelines developed by national funding bodies address the above issues and identify areas for further improvements. First, a review and analysis of the literature and guidelines developed by PBAC and NICE will be provided. Then, it will be discussed how the issues around model structuring (including structural uncertainty) are not handled and justified in a systematic way within the decision-making process, its potential impact on the quality of public funding decisions, and how it should be presented in submissions to national funding bodies. This presentation represents a contribution to the good modelling practice within the decision-making process. Although the presentation focuses on the PBAC and NICE guidelines, the discussion can be applied more widely to many other national funding bodies that use economic evaluation to inform funding decisions but do not transparently address model structuring issues e.g. the Medical Services Advisory Committee (MSAC) in Australia or the Canadian Agency for Drugs and Technologies in Health.

Keywords: decision-making process, economic evaluation, good modelling practice, structural uncertainty

Procedia PDF Downloads 184

Authors: Ganna Zakharova

Abstract:

The persuasive influence of tourism promotional materials is very much experienced nowadays. In order to attract the attention of viewers, marketers choose various techniques in their digital texts. Video is an essential element for attraction and seduction; it is a trigger element for tourists. This solution for web marketing engages and convinces potential tourists to book a tourism product. Embedding video materials into a website provides useful information, create different feelings in viewers, and help them finalize their decisions. The present article discusses video solutions for health tourism websites used to allure potential tourists. The paper reviews the influential elements of persuasive tourism marketing videos. The article highlights how these components as persuasive strategies of tourism promotional materials can influence the decisions of tourism websites’ users. The result section provides the real examples of the deployment of the mentioned technique to convince the audience by the website of 'Karpaty' resort (Ukraine). This technique is worth attention as it plays an important role in the promotion of tourism services. The data collection of this study will provide updated information in relation to the rhetoric of tourism.

Keywords: tourism discourse, persuasive video, influential videos in marketing, persuasive discourse, tourism promotion

Procedia PDF Downloads 118

Authors: Hiba Mezaache

Abstract:

The study aims to assess the financial and social efficiency of microfinance institutions in india for the period 2015-2019 by using two models of economies of scale and choosing the output direction of the data envelope analysis (DEA) method and using the MIX MARKET database. The study concluded that microfinance institutions focus on achieving financial efficiency beyond their focus on achieving social efficiency to ensure their continuity in the market. Convergence in the efficiency ratios that have been achieved, but the optimum ratios have been achieved under the changing economies of scale; Efficiency is affected by the depth of reaching low-income groups, as serving this group raises costs and risks. The importance of lending to women in rural areas and raising their awareness to ensure their financial and social empowerment; Make improvements in operating expenses, asset management, and loan personnel control in order to maximize output.

Keywords: microfinance, financial efficiency, social efficiency, mix market, microfinance institutions

Procedia PDF Downloads 155

Authors: Darius Danesh, Michael J. Ryan, Alireza Abbasi

Abstract:

Project Portfolio Management (PPM) is an essential component of an organisation’s strategic procedures, which requires attention of several factors to envisage a range of long-term outcomes to support strategic project portfolio decisions. To evaluate overall efficiency at the portfolio level, it is essential to identify the functionality of specific projects as well as to aggregate those findings in a mathematically meaningful manner that indicates the strategic significance of the associated projects at a number of levels of abstraction. PPM success is directly associated with the quality of decisions made and poor judgment increases portfolio costs. Hence, various Multi-Criteria Decision Making (MCDM) techniques have been designed and employed to support the decision-making functions. This paper reviews possible option to improve the decision-making outcomes in the organisational portfolio management processes using the Analytic Hierarchy Process (AHP) both from academic and practical perspectives and will examine the usability, certainty and quality of the technique. The results of the study will also provide insight into the technical risk associated with current decision-making model to underpin initiative tracking and strategic portfolio management.

Keywords: analytic hierarchy process, decision support systems, multi-criteria decision making, project portfolio management

Procedia PDF Downloads 321

Authors: Yuyang Cheng, Marcos Escobar-Anel

Abstract:

This paper introduces a multivariate 4/2 stochastic covariance process generalizing the one-dimensional counterparts presented in Grasselli (2017). Our construction permits stochastic correlation not only among stocks but also among volatilities, also known as co-volatility movements, both driven by more convenient 4/2 stochastic structures. The parametrization is flexible enough to separate these types of correlation, permitting their individual study. Conditions for proper changes of measure and closed-form characteristic functions under risk-neutral and historical measures are provided, allowing for applications of the model to risk management and derivative pricing. We apply the model to an expected utility theory problem in incomplete markets. Our analysis leads to closed-form solutions for the optimal allocation and value function. Conditions are provided for well-defined solutions together with a verification theorem. Our numerical analysis highlights and separates the impact of key statistics on equity portfolio decisions, in particular, volatility, correlation, and co-volatility movements, with the latter being the least important in an incomplete market.

Keywords: stochastic covariance process, 4/2 stochastic volatility model, stochastic co-volatility movements, characteristic function, expected utility theory, verication theorem

Procedia PDF Downloads 152

Authors: Libena Cernohorska, Barbora Sutorova, Petr Teply

Abstract:

There are pending discussions over an impact of global regulatory efforts on banks. In this paper we present a literature review on the profitability-risk-capital relationship in banking. Research papers dealing with this topic can be divided into two groups: the first group focusing on a capital-risk relationship and the second group analyzing a capital-profitability relationship. The first group investigates whether the imposition of stricter capital requirements reduces risk-taking incentives of banks based on a simultaneous equations model. Their model pioneered the idea that the changes in both capital and risk have endogenous and exogenous components. The results obtained by the authors indicate that changes in the capital level are positively related to the changes in asset risk. The second group of the literature concentrating solely on the relationship between the level of held capital and bank profitability is limited. Nevertheless, there are a lot of studies dealing with the banks’ profitability as such, where bank capital is very often included as an explanatory variable. Based on the literature review of dozens of relevant papers in this study, an empirical research on banks’ profitability and risk adjustment decisions under new banking rules Basel III rules can be easily undertaken.

Keywords: bank, Basel III, capital, decision making, profitability, risk, simultaneous equations model

Procedia PDF Downloads 499

Authors: Ivana Bulog, Ana Rimac Smiljanić, Sandra Pepur

Abstract:

The financial fragility of households has received increased attention following the recent health crisis, which has created uncertainty and caused increased levels of stress and consequently impaired individual and family well-being. Job losses and/or reduced wages and insecurity increased the number of people that were unable to meet unexpected expenses, which, in many cases, led to increased household debt levels. This presents a threat to the stability of the financial system and the whole economy; therefore, reducing financial fragility and improving financial literacy present challenges for academicians, practitioners, and policymakers. Concerning financial fragility, significant research attention has been devoted to financial knowledge and financial literacy. However, apart from specific knowledge, personal characteristics are of great importance in making financial decisions in the household. Self-efficacy is one of the personal non-cognitive attributes that is a valuable framework for understanding how household financial decisions are made. Thus, this research proposes that individual levels of financial literacy and self-efficacy are related to the indebtedness and financial instability of the household. The primary data were collected using a structured, self-administered online questionnaire, and a snowball sampling method was applied to reach the participants. Preliminary results confirm our assumptions on the influence of financial literacy and self-efficacy on household financial stability.

Keywords: financial literacy, self-efficacy, household financial fragility, well-being

Procedia PDF Downloads 87

Authors: Irene Bruna Seu

Abstract:

This paper draws on a three-year research project investigating everyday moral reasoning in relation to donations and prosocial behaviour in the humanitarian context. The analysis focuses on the principle of deservingness by which members of the public decide who and under which conditions to help and illustrates how the speakers engage in ideological dilemmas. The paper focuses on the theme ‘Something for nothing’ to examine how the position of ‘deserving’ and the speaker’s rights and duties in relation to victims of humanitarian crises are negotiated. Discursive analyses of this dilemmatic storyline of deservingness illuminate the cultural and ideological resources buttressing this construction. They also illustrate how humanitarianism intersects and clashes with other ideologies and value systems. The presentation will focus on the role of Individualism underpinned by Neo-liberalism ideology. The data propose that neo-liberal ideology, which endorses self-gratification, materialistic and individualistic ethics play an important role in decisions regarding humanitarian helping. The paper argues for the need for psychological research to engage more actively with the dilemmatic nature of moral reasoning in the humanitarian context, and to contextualize decisions about giving and helping within the socio-cultural and ideological landscape in which the helpers operate.

Keywords: humanitarianism, individualism, ideological dilemmas, discourse, neo-liberalism, prosocial behaviour

Procedia PDF Downloads 213

Authors: Ali Ashraf Hamedi Oghul Beyk

Abstract:

The main objective of the study is to determine the factors which influence the acceptance or rejection of rural livestock insurance in Garmsar. The research method is descriptive one. There are two groups of research populations: 1467 cases in acceptance group and 7000 cases in rejection group. The sample population is 320 cases among 8467 ones. Data collection instrument is questionnaire. The validity of the questionnaire was measured by faculty members and other agriculture experts and also reliability of it determined through Cronbach alpha which was %83. Correlation between acceptance and rejection of investigated population. According to the findings of the research, between educational level, basic income from farm-related communication channels, contacts of experts and acceptance and rejection of livestock insurance at %5 & the mortality rate, loan awareness of the objectives of the livestock insurance benefits %1 there is a meaningful relationship. Mann-Whitney test shows the different educational levels, different awareness and interest to livestock insurance between the two groups. Besides, the T-test shows the livestock losses rate in two groups.

Keywords: insurance, livestock, Garmsar, Semnan

Procedia PDF Downloads 351

Authors: Ebru Turgal, Beyza Doganay Erdogan

Abstract:

Machine learning aims to model the relationship between the response and features. Medical decision-making researchers would like to make decisions about patients’ course and treatment, by examining the repeated measurements over time. Boosting approach is now being used in machine learning area for these aims as an influential tool. The aim of this study is to show the usage of multivariate tree boosting in this field. The main reason for utilizing this approach in the field of decision-making is the ease solutions of complex relationships. To show how multivariate tree boosting method can be used to identify important features and feature-time interaction, we used the data, which was collected retrospectively from Ankara University Chest Diseases Department records. Dataset includes repeated PF ratio measurements. The follow-up time is planned for 120 hours. A set of different models is tested. In conclusion, main idea of classification with weighed combination of classifiers is a reliable method which was shown with simulations several times. Furthermore, time varying variables will be taken into consideration within this concept and it could be possible to make accurate decisions about regression and survival problems.

Keywords: boosted multivariate trees, longitudinal data, multivariate regression tree, panel data

Procedia PDF Downloads 203

Authors: Parya Tabei, Maryam Habibifar

Abstract:

Decision-making is an important cognitive function that can be defined as the process of choosing an option among available options to achieve a specific goal. Consumer ‘need’ is the main reason for purchasing decisions. Human decision-making while buying products online is subject to various factors, one of which is the quality and effect of advertising photos. Advertising photo editing can have a significant impact on people's virtual purchase decisions. This technique helps improve the quality and overall appearance of photos by adjusting various aspects such as brightness, contrast, colors, cropping, resizing, and adding filters. This study, by examining the effect of editing advertising photos on the virtual purchase decision using EEG data, tries to investigate the effect of edited images on the decision-making of customers. A group of 30 participants were asked to react to 24 edited and unedited images while their EEG was recorded. Analysis of the EEG data revealed increased alpha wave activity in the occipital regions (O1, O2) for both edited and unedited images, which is related to visual processing and attention. Additionally, there was an increase in beta wave activity in the frontal regions (FP1, FP2, F4, F8) when participants viewed edited images, suggesting involvement in cognitive processes such as decision-making and evaluating advertising content. Gamma wave activity also increased in various regions, especially the frontal and parietal regions, which are associated with higher cognitive functions, such as attention, memory, and perception, when viewing the edited images. While the visual processing reflected by alpha waves remained consistent across different visual conditions, editing advertising photos appeared to boost neural activity in frontal and parietal regions associated with decision-making processes. These Findings suggest that photo editing could potentially influence consumer perceptions during virtual shopping experiences by modulating brain activity related to product assessment and purchase decisions.

Keywords: virtual purchase decision, advertising photo, EEG parameters, decision Making

Procedia PDF Downloads 49

Authors: Saeed Sayyad Hagh Shomar

Abstract:

Modeling users’ decisions on departure time choice is the main motivation for this research. In particular, it examines the impact of social-demographic features, household, job characteristics and trip qualities on individuals’ departure time choice. Departure time alternatives are presented as adjacent discrete time periods. The choice between these alternatives is done using a discrete choice model. Since a great deal of early morning trips and traffic congestion at that time of the day comprise work trips, the focus of this study is on the work trip over the entire day. Therefore, this study by using the users’ stated preference in questionnaire models users’ departure time choice affected by congestion pricing schemes in high traffic suburban entrance roads of Tehran. The results demonstrate efficient social-demographic impact on work trips’ departure time. These findings have substantial outcomes for the analysis of transportation planning. Particularly, the analysis shows that ignoring the effects of these variables could result in erroneous information and consequently decisions in the field of transportation planning and air quality would fail and cause financial resources loss.

Keywords: congestion pricing, departure time, modeling, travel timing, time of the day, transportation planning

Procedia PDF Downloads 298

Authors: Allaeddine Athmani, Abdelhacine Gouasmia, Tiago Ferreira, Romeu Vicente

Abstract:

The seismic risk mitigation from the perspective of the old buildings stock is truly essential in Algerian urban areas, particularly those located in seismic prone regions, such as Annaba city, and which the old buildings present high levels of degradation associated with no seismic strengthening and/or rehabilitation concerns. In this sense, the present paper approaches the issue of the seismic vulnerability assessment of old masonry building stocks through the adaptation of a simplified methodology developed for a European context area similar to that of Annaba city, Algeria. Therefore, this method is used for the first level of seismic vulnerability assessment of the masonry buildings stock of the old city center of Annaba. This methodology is based on a vulnerability index that is suitable for the evaluation of damage and for the creation of large-scale loss scenarios. Over 380 buildings were evaluated in accordance with the referred methodology and the results obtained were then integrated into a Geographical Information System (GIS) tool. Such results can be used by the Annaba city council for supporting management decisions, based on a global view of the site under analysis, which led to more accurate and faster decisions for the risk mitigation strategies and rehabilitation plans.

Keywords: Damage scenarios, masonry buildings, old city center, seismic vulnerability, vulnerability index

Procedia PDF Downloads 451