Search results for: multiple criteria decision making (MCDM)
12723 Attribute Based Comparison and Selection of Modular Self-Reconfigurable Robot Using Multiple Attribute Decision Making Approach
Authors: Manpreet Singh, V. P. Agrawal, Gurmanjot Singh Bhatti
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From the last decades, there is a significant technological advancement in the field of robotics, and a number of modular self-reconfigurable robots were introduced that can help in space exploration, bucket to stuff, search, and rescue operation during earthquake, etc. As there are numbers of self-reconfigurable robots, choosing the optimum one is always a concern for robot user since there is an increase in available features, facilities, complexity, etc. The objective of this research work is to present a multiple attribute decision making based methodology for coding, evaluation, comparison ranking and selection of modular self-reconfigurable robots using a technique for order preferences by similarity to ideal solution approach. However, 86 attributes that affect the structure and performance are identified. A database for modular self-reconfigurable robot on the basis of different pertinent attribute is generated. This database is very useful for the user, for selecting a robot that suits their operational needs. Two visual methods namely linear graph and spider chart are proposed for ranking of modular self-reconfigurable robots. Using five robots (Atron, Smores, Polybot, M-Tran 3, Superbot), an example is illustrated, and raking of the robots is successfully done, which shows that Smores is the best robot for the operational need illustrated, and this methodology is found to be very effective and simple to use.Keywords: self-reconfigurable robots, MADM, TOPSIS, morphogenesis, scalability
Procedia PDF Downloads 21212722 A Design Decision Framework for Net-Zero Carbon Buildings in Hot Climates: A Modeled Approach and Expert’s Feedback
Authors: Eric Ohene, Albert P. C. Chan, Shu-Chien HSU
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The rising building energy consumption and related carbon emissions make it necessary to construct net-zero carbon buildings (NZCBs). The objective of net-zero buildings has raised the benchmark for building performance and will alter how buildings are designed and constructed. However, there have been growing concerns about uncertainty in net-zero building design and cost implications in decision-making. Lessons from practice have shown that a robust net-zero building design is complex, expensive, and time-consuming. Moreover, climate conditions have an enormous implication for choosing the best-optimal passive and active solutions to ensure building energy performance while ensuring the indoor comfort performance of occupants. It is observed that 20% of the design decisions made in the initial design phase influence 80% of all design decisions. To design and construct NZCBs, it is crucial to ensure adequate decision-making during the early design phases. Therefore, this study aims to explore practical strategies to design NZCBs and to offer a design framework that could help decision-making during the design stage of net-zero buildings. A parametric simulation approach was employed, and experts (i.e., architects, building designers) perspectives on the decision framework were solicited. The study could be helpful to building designers and architects to guide their decision-making during the design stage of NZCBs.Keywords: net-zero, net-zero carbon building, energy efficiency, parametric simulation, hot climate
Procedia PDF Downloads 9612721 Consensus Reaching Process and False Consensus Effect in a Problem of Portfolio Selection
Authors: Viviana Ventre, Giacomo Di Tollo, Roberta Martino
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The portfolio selection problem includes the evaluation of many criteria that are difficult to compare directly and is characterized by uncertain elements. The portfolio selection problem can be modeled as a group decision problem in which several experts are invited to present their assessment. In this context, it is important to study and analyze the process of reaching a consensus among group members. Indeed, due to the various diversities among experts, reaching consensus is not necessarily always simple and easily achievable. Moreover, the concept of consensus is accompanied by the concept of false consensus, which is particularly interesting in the dynamics of group decision-making processes. False consensus can alter the evaluation and selection phase of the alternative and is the consequence of the decision maker's inability to recognize that his preferences are conditioned by subjective structures. The present work aims to investigate the dynamics of consensus attainment in a group decision problem in which equivalent portfolios are proposed. In particular, the study aims to analyze the impact of the subjective structure of the decision-maker during the evaluation and selection phase of the alternatives. Therefore, the experimental framework is divided into three phases. In the first phase, experts are sent to evaluate the characteristics of all portfolios individually, without peer comparison, arriving independently at the selection of the preferred portfolio. The experts' evaluations are used to obtain individual Analytical Hierarchical Processes that define the weight that each expert gives to all criteria with respect to the proposed alternatives. This step provides insight into how the decision maker's decision process develops, step by step, from goal analysis to alternative selection. The second phase includes the description of the decision maker's state through Markov chains. In fact, the individual weights obtained in the first phase can be reviewed and described as transition weights from one state to another. Thus, with the construction of the individual transition matrices, the possible next state of the expert is determined from the individual weights at the end of the first phase. Finally, the experts meet, and the process of reaching consensus is analyzed by considering the single individual state obtained at the previous stage and the false consensus bias. The work contributes to the study of the impact of subjective structures, quantified through the Analytical Hierarchical Process, and how they combine with the false consensus bias in group decision-making dynamics and the consensus reaching process in problems involving the selection of equivalent portfolios.Keywords: analytical hierarchical process, consensus building, false consensus effect, markov chains, portfolio selection problem
Procedia PDF Downloads 8912720 Ata-Manobo Tribe as Stakeholders in the Making of School Improvement Plan: Basis for Policy Recommendation
Authors: Diobein C. Flores
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The populace in Municipality of Talaingod is composed of Ata-Manobo. The said lumads enrich their culture, orientation and self because the place is a hive of their tribe. In lieu, the study would analyze the participation of the Ata-Manobo in the making of school improvement plan (SIP). Thus, it recommends alternative policy options that would help strengthen their involvement. The school stakeholders-Ata Manobo representatives from students, parent-teacher association, alumni, basic sector, municipal/barangay government unit, civic/social organizations and other government various agencies are the key participants in this study. The research used descriptive design. The responses of the representatives were analyzed through the criteria involved in employing Rational Model. The technical dimension, administrative, political acceptability and economic are the criteria in revealing decision. The policy alternative option 3- recommends to formulate policy for the purpose of capacitating stakeholders or governing council members in the making of SIP was pointed out as the most preferred option. This could strengthen the participation among Ata-Manobo as stakeholders in planning. Hence, the formulation alternative policy- capacitating stakeholders in the crafting of school improvement plan is recommended. The suggested initiative would assist the Department of Education in forging consensus across neighborhoods during the making of SIP. The appropriation of the definite budget to be used during the conduct of capability building activities is also suggested. Training-workshops are identified as possible intervention to ensure that the stakeholders are equipped with necessary knowledge and skills needed in the making of SIP. Indeed, the equal opportunities for all stakeholders regardless of their life circumstances must be noted. With the belief, people must be empowered to take advantage and spearhead progress in the making of SIP.Keywords: Ata-Manobo Tribe, stakeholders, school improvement plan, Municipality of Talaingod, Philippines
Procedia PDF Downloads 31712719 Fuzzy Decision Making to the Construction Project Management: Glass Facade Selection
Authors: Katarina Rogulj, Ivana Racetin, Jelena Kilic
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In this study, the fuzzy logic approach (FLA) was developed for construction project management (CPM) under uncertainty and duality. The focus was on decision making in selecting the type of the glass facade for a residential-commercial building in the main design. The adoption of fuzzy sets was capable of reflecting construction managers’ reliability level over subjective judgments, and thus the robustness of the system can be achieved. An α-cuts method was utilized for discretizing the fuzzy sets in FLA. This method can communicate all uncertain information in the optimization process, taking into account the values of this information. Furthermore, FLA provides in-depth analyses of diverse policy scenarios that are related to various levels of economic aspects when it comes to the construction projects' valid decision making. The developed approach is applied to CPM to demonstrate its applicability. Analyzing the materials of glass facades, variants were defined. The development of the FLA for the CPM included relevant construction projec'ts stakeholders that were involved in the criteria definition to evaluate each variant. Using fuzzy Decision-Making Trial and Evaluation Laboratory Method (DEMATEL) comparison of the glass facade was conducted. This way, a rank, according to the priorities for inclusion into the main design, of variants is obtained. The concept was tested on a residential-commercial building in the city of Rijeka, Croatia. The newly developed methodology was then compared with the existing one. The aim of the research was to define an approach that will improve current judgments and decisions when it comes to the material selection of buildings facade as one of the most important architectural and engineering tasks in the main design. The advantage of the new methodology compared to the old one is that it includes the subjective side of the managers’ decisions, as an inevitable factor in each decision making. The proposed approach can help construction projects managers to identify the desired type of glass facade according to their preference and practical conditions, as well as facilitate in-depth analyses of tradeoffs between economic efficiency and architectural design.Keywords: construction projects management, DEMATEL, fuzzy logic approach, glass façade selection
Procedia PDF Downloads 13112718 Consumer Behavior and Marketing Mixed Factor Effect on Consumer Decision Making for Independent Movies Presented in Lido Cinema
Authors: Pongsawee Supanonth
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This study aims to investigate the consumer behavior and marketing mixed factor affect on consumer decision making for independent movies presented in Lido cinema. The research method will use quantitative research, data was collected by questionnaires distributed to the audience in the Lido cinema for 400 sample by accidental sampling technique. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and inferential statistic including independent t-test for hypothesis testing. The results showed that marketing mixed factors affecting consumer decision-making for Independent movies presented in Lido cinema by gender as different as less than the 0.05 significance level, it was found that the kind of movie ,quality of theater ,price of ticket, facility of watching movies, staff services and promotion of Lido cinema respectively had a vital influence on their attention and response which makes the advertisement more attractive is in harmony with the research hypotheses also.Keywords: consumer behavior, marketing mixed factor, resonance, consumer decision making, Lido cinema
Procedia PDF Downloads 30312717 On-line Control of the Natural and Anthropogenic Safety in Krasnoyarsk Region
Authors: T. Penkova, A. Korobko, V. Nicheporchuk, L. Nozhenkova, A. Metus
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This paper presents an approach of on-line control of the state of technosphere and environment objects based on the integration of Data Warehouse, OLAP and Expert systems technologies. It looks at the structure and content of data warehouse that provides consolidation and storage of monitoring data. There is a description of OLAP-models that provide a multidimensional analysis of monitoring data and dynamic analysis of principal parameters of controlled objects. The authors suggest some criteria of emergency risk assessment using expert knowledge about danger levels. It is demonstrated now some of the proposed solutions could be adopted in territorial decision making support systems. Operational control allows authorities to detect threat, prevent natural and anthropogenic emergencies and ensure a comprehensive safety of territory.Keywords: decision making support systems, emergency risk assessment, natural and anthropogenic safety, on-line control, territory
Procedia PDF Downloads 39712716 Decision Tree Model for the Recommendation of Digital and Alternate Payment Methods for SMEs
Authors: Arturo J. Anci Alméstar, Jose D. Fernandez Huapaya, David Mauricio
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Companies make erroneous decisions by not evaluating the inherent difficulties of entering electronic commerce without a prior review of current digital and alternate means of payment. For this reason, it is very important for businesses to have reliable, complete and integrated information on the means of current digital and alternate payments that allow decisions to be made about which of these to use. However, there is no such consolidated information or criteria that companies use to make decisions about the means of payment according to their needs. In this paper, we propose a decision tree model based on a taxonomy that presents us with a categorization of digital and alternative means of payment, as well as the visualization of the flow of information at a high level from the company to obtain a recommendation. This will allow the company to make the most appropriate decision about the implementation of the digital means of payment or alternative ideal for their needs, which allows a reduction in costs and complexity of the payment process. Likewise, the efficiency of the proposed model was evaluated through a satisfaction survey presented to company personnel, confirming the satisfactory quality level of the recommendations obtained by the model.Keywords: digital payment medium, decision tree, decision making, digital payments taxonomy
Procedia PDF Downloads 17512715 Research Opportunities in Business Process Management and Performance Measurement from a Constructivist View
Authors: R.T.O. Lacerda, L. Ensslin., S.R. Ensslin, L. Knoff
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This research paper aims to discover research opportunities in business process management and performance measurement from a constructivist view. The nature of this research is exploratory and descriptive and the research method was performed in a qualitative way. The process narrowed down 2142 articles, gathered after a search in scientific databases, and identified 16 articles that were relevant to the research and highly cited. The analysis found that most of the articles uses realistic approach and there is a need to analyze the decision making process in a singular manner. The measurement criteria are identified from scientific literature searching, in most cases, using ordinal scale without any integration process to present the results to the decision maker. Regarding management aspects, most of the articles do not have a structured process to measure the current situation and generate improvements opportunities.Keywords: performance measurement, BPM, decision, research opportunities
Procedia PDF Downloads 30712714 Creativity and Innovation in a Military Unit of South America: Decision Making Process, Socio-Emotional Climate, Shared Flow and Leadership
Authors: S. da Costa, D. Páez, E. Martínez, A. Torres, M. Beramendi, D. Hermosilla, M. Muratori
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This study examined the association between creative performance, organizational climate and leadership, affectivity, shared flow, and group decision making. The sample consisted of 315 cadets of a military academic unit of South America. Satisfaction with the decision-making process during a creative task was associated with the usefulness and effectiveness of the ideas generated by the teams with a weighted average correlation of r = .18. Organizational emotional climate, positive and innovation leadership were associated with this group decision-making process r = .25, with shared flow, r = .29 and with positive affect felt during the performance of the creative task, r = .12. In a sequential mediational analysis positive organizational leadership styles were significantly associated with decision-making process and trough cohesion with utility and efficacy of the solution of a creative task. Satisfactory decision-making was related to shared flow during the creative task at collective or group level, and positive affect with flow at individual level.This study examined the association between creative performance, organizational climate and leadership, affectivity, shared flow, and group decision making. The sample consisted of 315 cadets of a military academic unit of South America. Satisfaction with the decision-making process during a creative task was associated with the usefulness and effectiveness of the ideas generated by the teams with a weighted average correlation of r = .18. Organizational emotional climate, positive and innovation leadership were associated with this group decision-making process r = .25, with shared flow, r = .29 and with positive affect felt during the performance of the creative task, r = .12. In a sequential mediational analysis positive organizational leadership styles were significantly associated with decision-making process and trough cohesion with utility and efficacy of the solution of a creative task. Satisfactory decision-making was related to shared flow during the creative task at collective or group level, and positive affect with flow at individual level.Keywords: creativity, innovation, military, organization, teams
Procedia PDF Downloads 11812713 Entropy Measures on Neutrosophic Soft Sets and Its Application in Multi Attribute Decision Making
Authors: I. Arockiarani
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The focus of the paper is to furnish the entropy measure for a neutrosophic set and neutrosophic soft set which is a measure of uncertainty and it permeates discourse and system. Various characterization of entropy measures are derived. Further we exemplify this concept by applying entropy in various real time decision making problems.Keywords: entropy measure, Hausdorff distance, neutrosophic set, soft set
Procedia PDF Downloads 25112712 Modelling of the Fire Pragmatism in the Area of Military Management and Its Experimental Verification
Authors: Ivana Mokrá
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The article deals with modelling of the fire pragmatism in the area of military management and its experimental verification. Potential approaches are based on the synergy of mathematical and theoretical ideas, operational and tactical requirements and the military decision-making process. This issue has taken on importance in recent times, particularly with the increasing trend of digitized battlefield, the development of C4ISR systems and intention to streamline the command and control process at the lowest levels of command. From fundamental and philosophical point of view, these new approaches seek to significantly upgrade and enhance the decision-making process of the tactical commanders.Keywords: military management, decision-making process, strike modeling, experimental evaluation, pragmatism, tactical strike modeling
Procedia PDF Downloads 38312711 Logic of the Prospect Theory: The Decision Making Process of the First Gulf War and the Crimean Annexation
Authors: Zhengyang Ma, Zhiyao Li, Jiayi Zhang
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This article examines the prospect theory’s arguments about decision-making through two case studies, the First Gulf War and Russia’s annexation of Crimea. The article uses the methods of comparative case analysis and process tracing to investigate the prospect theory’s fundamental arguments. Through evidence derived from existing primary and secondary sources, this paper argues that both former U.S. President Bush and Russian President Putin viewed their situations as a domain of loss and made risky decisions to prevent further deterioration, which attests the arguments of the prospect theory. After the two case studies, this article also discusses how the prospect theory could be used in analyzing the decision-making process that led to the current Russia-Ukraine War.Keywords: the prospect theory, international relations, the first gulf war, the crimea crisis
Procedia PDF Downloads 11312710 A Game of Information in Defense/Attack Strategies: Case of Poisson Attacks
Authors: Asma Ben Yaghlane, Mohamed Naceur Azaiez
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In this paper, we briefly introduce the concept of Poisson attacks in the case of defense/attack strategies where attacks are assumed to be continuous. We suggest a game model in which the attacker will combine both criteria of a sufficient confidence level of a successful attack and a reasonably small size of the estimation error in order to launch an attack. Here, estimation error arises from assessing the system failure upon attack using aggregate data at the system level. The corresponding error is referred to as aggregation error. On the other hand, the defender will attempt to deter attack by making one or both criteria inapplicable. The defender will build his/her strategy by both strengthening the targeted system and increasing the size of error. We will formulate the defender problem based on appropriate optimization models. The attacker will opt for a Bayesian updating in assessing the impact on the improvement made by the defender. Then, the attacker will evaluate the feasibility of the attack before making the decision of whether or not to launch it. We will provide illustrations to better explain the process.Keywords: attacker, defender, game theory, information
Procedia PDF Downloads 46012709 Using Risk Management Indicators in Decision Tree Analysis
Authors: Adel Ali Elshaibani
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Risk management indicators augment the reporting infrastructure, particularly for the board and senior management, to identify, monitor, and manage risks. This enhancement facilitates improved decision-making throughout the banking organization. Decision tree analysis is a tool that visually outlines potential outcomes, costs, and consequences of complex decisions. It is particularly beneficial for analyzing quantitative data and making decisions based on numerical values. By calculating the expected value of each outcome, decision tree analysis can help assess the best course of action. In the context of banking, decision tree analysis can assist lenders in evaluating a customer’s creditworthiness, thereby preventing losses. However, applying these tools in developing countries may face several limitations, such as data availability, lack of technological infrastructure and resources, lack of skilled professionals, cultural factors, and cost. Moreover, decision trees can create overly complex models that do not generalize well to new data, known as overfitting. They can also be sensitive to small changes in the data, which can result in different tree structures and can become computationally expensive when dealing with large datasets. In conclusion, while risk management indicators and decision tree analysis are beneficial for decision-making in banks, their effectiveness is contingent upon how they are implemented and utilized by the board of directors, especially in the context of developing countries. It’s important to consider these limitations when planning to implement these tools in developing countries.Keywords: risk management indicators, decision tree analysis, developing countries, board of directors, bank performance, risk management strategy, banking institutions
Procedia PDF Downloads 5312708 The Attentional Focus Impact on the Decision Making in Three-Game Situations in Tennis
Authors: Marina Tsetseli, Eleni Zetou, Maria Michalopoulou, Nikos Vernadakis
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Game performance, besides the accuracy and the quality skills execution, depends heavily on where the athletes will focus their attention while performing a skill. The purpose of the present study was to examine and compare the effect of internal and external focus of attention instructions on the decision making in tennis at players 8-9 years old (M=8.4, SD=0.49). The participants (N=40) were divided into two groups and followed an intervention training program that lasted 4 weeks; first group (N=20) under internal focus of attention instructions and the second group (N=20) under external focus of attention instructions. Three measurements took place (pre-test, post-test, and retention test) in which the participants were video recorded while playing matches in real scoring conditions. GPAI (Game Performance Assessment Instrument) was used to evaluate decision making in three game situations; service, return of the service, baseline game. ANOVA repeated measures (2 groups x 3 measurements) revealed a significant interaction between groups and measurements. Specifically, the data analysis showed superiority of the group that was instructed to focus externally. The high scores of the external attention group were maintained at the same level at the third measurement as well, which indicates that the impact was concerning not only performance but also learning. Thus, cues that lead to an external focus of attention enhance the decision-making skill and therefore the game performance of the young tennis players.Keywords: decision making, evaluation, focus of attention, game performance, tennis
Procedia PDF Downloads 34712707 Men's Decision Making: The Determinant of Home Delivery among Women in Khyber Pakhtunkhwa Pakistan
Authors: Hussain Ali, Ahmad Ali, Syed Rashid Ali
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The maternal mortality is one of the basic health issues faced by rural women in Pakistan. There are various structural and socio-cultural determinants which confine women to domestic sphere. Such mobility restriction compels women for home delivery which causes high maternal mortality and morbidity. However, it is hard to find out the research findings and well-organized literature that explain the cultural factors act as determinant to home delivery among Pakhtun women. The overall objective of this research is to study men’s decision making within the household in Pakhtun society as determinant of home delivery among Pakhtun women in Khyber Pakhtunkhwa province of Pakistan. In the present study, researchers used the quantitative research design in which the data are collected through household survey technique from (n=503) ever-married women having reproductive age (15-49 years) by using interview schedule. The data are analyzed through SPSS, and binary logistic regression was applied to draw the association between home as a place of delivery and men’s decision making in the Pakhtun society. The results show that majority (76%) of the husbands are key decision makers about the home delivery due to their superior position within household. Similarly, majority (88%) Pakhtun women prefer to stay in home for their delivery due to their dependency on husband’s decision. The researcher concludes that men are key decision makers in Pakhtun society and their decisions affect women maternal health care. Similarly, the women are in subordinate position, and their limited decision making in the domestic sphere are greatly responsible for home delivery which causing high maternal mortality rate in the study area. In order to achieve Sustainable Development Goal No. 3, the study recommends empowering women in the decision making about accessing and utilizing maternal health care services and given financial autonomy to them.Keywords: home delivery, men’s decision, Pakhtun women, subordinate position
Procedia PDF Downloads 13712706 Finite Dynamic Programming to Decision Making in the Use of Industrial Residual Water Treatment Plants
Authors: Oscar Vega Camacho, Andrea Vargas, Ellery Ariza
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This paper presents the application of finite dynamic programming, specifically the "Markov Chain" model, as part of the decision making process of a company in the cosmetics sector located in the vicinity of Bogota DC. The objective of this process was to decide whether the company should completely reconstruct its waste water treatment plant or instead optimize the plant through the addition of equipment. The goal of both of these options was to make the required improvements in order to comply with parameters established by national legislation regarding the treatment of waste before it is released into the environment. This technique will allow the company to select the best option and implement a solution for the processing of waste to minimize environmental damage and the acquisition and implementation costs.Keywords: decision making, markov chain, optimization, waste water
Procedia PDF Downloads 40312705 Probing Environmental Sustainability via Brownfield Remediation: A Framework to Manage Brownfields in Ethiopia Lesson to Africa
Authors: Mikiale Gebreslase Gebremariam, Chai Huaqi, Tesfay Gebretsdkan Gebremichael, Dawit Nega Bekele
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In recent years, brownfield redevelopment projects (BRPs) have contributed to the overarching paradigm of the United Nations 2030 agendas. In the present circumstance, most developed nations adopted BRPs, an efficacious urban policy tool. However, in developing and some advanced countries, BRPs are lacking due to limitations of awareness, policy tools, and financial capability for cleaning up brownfield sites. For example, the growth and development of Ethiopian cities were achieved at the cost of poor urban planning, including no community consultations and excessive urbanization for future growth. The demand for land resources is more and more urgent as the result of an intermigration to major cities and towns for socio-economic reasons and population growth. In the past, the development mode of spreading major cities has made horizontal urbanizations stretching outwards. Expansion in search of more land resources, while the outer cities are growing, the inner cities are polluted by environmental pollution. It is noteworthy that the rapid development of cities has not brought about an increase in people's happiness index. Thus, the proposed management framework for managing brownfields in Ethiopia as a lesson to the developing nation facing similar challenges and growth will add immense value in solving the problems and give insights into brownfield land utilization. Under the umbrella of the grey incidence decision-making model and with the consideration of multiple stakeholders and tight environmental and economic constraints, the proposed management framework integrates different criteria from economic, social, environmental, technical, and risk aspects into the grey incidence decision-making model and gives useful guidance to manage brownfields in Ethiopia. Furthermore, it will contribute to the future development of the social economy and the missions of the 2030 UN sustainable development goals.Keywords: Brownfields, environmental sustainability, Ethiopia, grey-incidence decision-making, sustainable urban development
Procedia PDF Downloads 8212704 Investor’s Psychology in Investment Decision Making in Context of Behavioural Finance
Authors: Jhansi Rani Boda, G. Sunitha
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Worldwide, the financial markets are influenced by several factors such as the changes in economic and political processes that occur in the country and the globe, information diffusion and approachability and so on. Yet, the foremost important factor is the investor’s reaction and perception. For an individual investor, decision-making process can be perceived as a continuous process that has significant impact of their psychology while making investment decisions. Behavioral finance relies on research of human and social recognition and emotional tolerance studies to identify and understand the investment decisions. This article aims to report the research of individual investor’s financial behavior in a historical perspective. This article uncovers the investor’s psychology in investment decision making focusing on the investor’s rationality with an explanation of psychological and emotional factors that affect investing. The results of the study are revealed by means of Graphical visualization.Keywords: behavioral finance, psychology, investor’s behavior, psychological and emotional factors
Procedia PDF Downloads 29312703 Impact of Work Experience and Gender on Decisional Conflict
Authors: Mohsin Aslam Khan
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Decision making tendency varies in people with different socio demographics. This study was conducted to identify the impact of work experience on decisional conflict and whether there is a gender differences in decisional conflict. Convenience sampling was more appropriate for this exploratory research. AM O’ Connor decisional conflict scale, (1995) with cronbach alpha 0.900 was administered on sample size of 109 participants (62males, 47females). The responses were scored according to the AM O’ Connor decisional conflict scale manual, (1995). The results of the study indicate that work experience has no significant impact on decisional conflict, whereas gender differences in decisional conflict illustrates significant mean score differences among male and female participants.Keywords: decision making, decisional conflict, gender decision making, work experience
Procedia PDF Downloads 60412702 Multi-Criteria Nautical Ports Capacity and Services Planning
Authors: N. Perko, N. Kavran, M. Bukljas, I. Berbic
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This paper is a result of implemented research on proposed introduced methodology for nautical ports capacity planning by introducing a multi-criteria approach of defined criteria and impacts at the Adriatic Sea. The purpose was analysing the determinants -characteristics of infrastructure and services of nautical ports capacity allocated, especially nowadays due to COVID-19 pandemic, as crucial for the successful operation of nautical ports. Giving the importance of the defined priorities for short-term and long-term planning is essential not only in terms of the development of nautical tourism but also in terms of developing the maritime system, but unfortunately, this is not always carried out. Evaluation of the use of resources should follow from a detailed analysis of all aspects of resources bearing in mind that nautical tourism used resources in a sustainable manner and generate effects in the tourism and maritime sectors. Consequently, the identified multiplier effect of nautical tourism, which should be defined and quantified in detail, should be one of the major competitive products on the Croatian Adriatic and the Mediterranean. Research of nautical tourism is necessary to quantify the effects and required planning system development. In the future, the greatest threat to the long-term sustainable development of nautical tourism can be its further uncontrolled or unlimited and undirected development, especially under pressure markedly higher demand than supply for new moorings in the Mediterranean. Results of this implemented research are applicable to nautical ports management and decision-makers of maritime transport system development. This paper will present implemented research and obtained result-developed methodology for nautical port capacity planning -port capacity planning multi-criteria decision-making. A proposed methodological approach of multi-criteria capacity planning includes four criteria (spatial - transport, cost - infrastructure, ecological and organizational criteria, and additional services). The importance of the criteria and sub-criteria is evaluated and carried out as the basis for sensitivity analysis of the importance of the criteria and sub-criteria. Based on the analysis of the identified and quantified importance of certain criteria and sub-criteria, as well as sensitivity analysis and analysis of changes of the quantified importance, scientific and applicable results will be presented. These obtained results have practical applicability by management of nautical ports in the planning of increasing capacity and further development and for the adaptation of existing nautical ports. Obtained research is applicable and replicable in other seas, and results are especially important and useful in this COVID-19 pandemic challenging maritime development framework.Keywords: Adriatic Sea, capacity, infrastructures, maritime system, methodology, nautical ports, nautical tourism, service
Procedia PDF Downloads 17612701 Decision Tree Based Scheduling for Flexible Job Shops with Multiple Process Plans
Authors: H.-H. Doh, J.-M. Yu, Y.-J. Kwon, J.-H. Shin, H.-W. Kim, S.-H. Nam, D.-H. Lee
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This paper suggests a decision tree based approach for flexible job shop scheduling with multiple process plans, i. e. each job can be processed through alternative operations, each of which can be processed on alternative machines. The main decision variables are: (a) selecting operation/machine pair; and (b) sequencing the jobs assigned to each machine. As an extension of the priority scheduling approach that selects the best priority rule combination after many simulation runs, this study suggests a decision tree based approach in which a decision tree is used to select a priority rule combination adequate for a specific system state and hence the burdens required for developing simulation models and carrying out simulation runs can be eliminated. The decision tree based scheduling approach consists of construction and scheduling modules. In the construction module, a decision tree is constructed using a four-stage algorithm, and in the scheduling module, a priority rule combination is selected using the decision tree. To show the performance of the decision tree based approach suggested in this study, a case study was done on a flexible job shop with reconfigurable manufacturing cells and a conventional job shop, and the results are reported by comparing it with individual priority rule combinations for the objectives of minimizing total flow time and total tardiness.Keywords: flexible job shop scheduling, decision tree, priority rules, case study
Procedia PDF Downloads 35112700 Teenagers’ Decisions to Undergo Orthodontic Treatment: A Qualitative Study
Authors: Babak Nematshahrbabaki, Fallahi Arezoo
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Objective: The aim of this study was to describe teenagers’ decisions to undergo orthodontic treatment through a qualitative study. Materials and methods: Twenty-three patients (12 girls), aged 12–18 years, at a dental clinic in Sanandaj the western part of Iran participated. Face-to-face and semi-structured interviews and two focus group discussions were held to gather data. Data analyzed by the grounded theory method. Results: ‘Decision-making’ was the core category. During the data analysis four main themes were developed: ‘being like everyone else’, ‘being diagnosed’, ‘maintaining the mouth’ and ‘cultural-social and environmental factors’. Conclusions: cultural- social and environmental factors have crucial role in decision-making to undergo orthodontic treatment. The teenagers were not fully conscious of these external influences. They thought their decision to undergo orthodontic treatment is independent while it is related to cultural- social and environmental factors.Keywords: decision-making, qualitative study, teenager, orthodontic treatment
Procedia PDF Downloads 44412699 Sustainable Material Selection for Buildings: Analytic Network Process Method and Life Cycle Assessment Approach
Authors: Samira Mahmoudkelayeh, Katayoun Taghizade, Mitra Pourvaziri, Elnaz Asadian
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Over the recent decades, depletion of resources and environmental concerns made researchers and practitioners present sustainable approaches. Since construction process consumes a great deal of both renewable and non-renewable resources, it is of great significance regarding environmental impacts. Choosing sustainable construction materials is a remarkable strategy presented in many researches and has a significant effect on building’s environmental footprint. This paper represents an assessment framework for selecting best sustainable materials for exterior enclosure in the city of Tehran based on sustainability principles (eco-friendly, cost effective and socio-cultural viable solutions). To perform a comprehensive analysis of environmental impacts, life cycle assessment, a cradle to grave approach is used. A questionnaire survey of construction experts has been conducted to determine the relative importance of criteria. Analytic Network Process (ANP) is applied as a multi-criteria decision-making method to choose sustainable material which consider interdependencies of criteria and sub-criteria. Finally, it prioritizes and aggregates relevant criteria into ultimate assessed score.Keywords: sustainable materials, building, analytic network process, life cycle assessment
Procedia PDF Downloads 23312698 The Impact of Team Heterogeneity and Team Reflexivity on Entrepreneurial Decision -Making - Empirical Study in China
Authors: Chang Liu, Rui Xing, Liyan Tang, Guohong Wang
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Entrepreneurial actions are based on entrepreneurial decisions. The quality of decisions influences entrepreneurial activities and subsequent new venture performance. Uncertainty of surroundings put heightened demands on the team as a whole, and each team member. Diverse team composition provides rich information, which a team can draw when making complex decisions. However, team heterogeneity may cause emotional conflicts, which is adverse to team outcomes. Thus, the effects of team heterogeneity on team outcomes are complex. Although team heterogeneity is an essential factor influencing entrepreneurial decision-making, there is a lack of empirical analysis on under what conditions team heterogeneity plays a positive role in promoting decision-making quality. Entrepreneurial teams always struggle with complex tasks. How a team shapes its teamwork is key in resolving constant issues. As a collective regulatory process, team reflexivity is characterized by continuous joint evaluation and discussion of team goals, strategies, and processes, and adapt them to current or anticipated circumstances. It enables diversified information to be shared and overtly discussed. Instead of hostile interpretation of opposite opinions team members take them as useful insights from different perspectives. Team reflexivity leads to better integration of expertise to avoid the interference of negative emotions and conflict. Therefore, we propose that team reflexivity is a conditional factor that influences the impact of team heterogeneity on high-quality entrepreneurial decisions. In this study, we identify team heterogeneity as a crucial determinant of entrepreneurial decision quality. Integrating the literature on decision-making and team heterogeneity, we investigate the relationship between team heterogeneity and entrepreneurial decision-making quality, treating team reflexivity as a moderator. We tested our hypotheses using the hierarchical regression method and the data gathered from 63 teams and 205 individual members from 45 new firms in China's first-tier cities such as Beijing, Shanghai, and Shenzhen. This research found that both teams' education heterogeneity and teams' functional background heterogeneity were significantly positively related to entrepreneurial decision-making quality, and the positive relation was stronger in teams with a high level of team reflexivity. While teams' specialization of education heterogeneity was negatively related to decision-making quality, and the negative relationship was weaker in teams with a high level of team reflexivity. We offer two contributions to decision-making and entrepreneurial team literatures. Firstly, our study enriches the understanding of the role of entrepreneurial team heterogeneity in entrepreneurial decision-making quality. Different from previous entrepreneurial decision-making literatures, which focus more on decision-making modes of entrepreneurs and the top management team, this study is a significant attempt to highlight that entrepreneurial team heterogeneity makes a unique contribution to generating high-quality entrepreneurial decisions. Secondly, this study introduced team reflexivity as the moderating variable, to explore the boundary conditions under which the entrepreneurial team heterogeneity play their roles.Keywords: decision-making quality, entrepreneurial teams, education heterogeneity, functional background heterogeneity, specialization of education heterogeneity
Procedia PDF Downloads 11512697 Application of Finite Dynamic Programming to Decision Making in the Use of Industrial Residual Water Treatment Plants
Authors: Oscar Vega Camacho, Andrea Vargas Guevara, Ellery Rowina Ariza
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This paper presents the application of finite dynamic programming, specifically the "Markov Chain" model, as part of the decision making process of a company in the cosmetics sector located in the vicinity of Bogota DC. The objective of this process was to decide whether the company should completely reconstruct its wastewater treatment plant or instead optimize the plant through the addition of equipment. The goal of both of these options was to make the required improvements in order to comply with parameters established by national legislation regarding the treatment of waste before it is released into the environment. This technique will allow the company to select the best option and implement a solution for the processing of waste to minimize environmental damage and the acquisition and implementation costs.Keywords: decision making, Markov chain, optimization, wastewater
Procedia PDF Downloads 48012696 Optimization of Water Pipeline Routes Using a GIS-Based Multi-Criteria Decision Analysis and a Geometric Search Algorithm
Authors: Leon Mortari
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The Metropolitan East region of Rio de Janeiro state, Brazil, faces a historic water scarcity. Among the alternatives studied to solve this situation, the possibility of adduction of the available water in the reservoir Lagoa de Juturnaíba to supply the region's municipalities stands out. The allocation of a linear engineering project must occur through an evaluation of different aspects, such as altitude, slope, proximity to roads, distance from watercourses, land use and occupation, and physical and chemical features of the soil. This work aims to apply a multi-criteria model that combines geoprocessing techniques, decision-making, and geometric search algorithm to optimize a hypothetical adductor system in the scenario of expanding the water supply system that serves this region, known as Imunana-Laranjal, using the Lagoa de Juturnaíba as the source. It is proposed in this study, the construction of a spatial database related to the presented evaluation criteria, treatment and rasterization of these data, and standardization and reclassification of this information in a Geographic Information System (GIS) platform. The methodology involves the integrated analysis of these criteria, using their relative importance defined by weighting them based on expert consultations and the Analytic Hierarchy Process (AHP) method. Three approaches are defined for weighting the criteria by AHP: the first treats all criteria as equally important, the second considers weighting based on a pairwise comparison matrix, and the third establishes a hierarchy based on the priority of the criteria. For each approach, a distinct group of weightings is defined. In the next step, map algebra tools are used to overlay the layers and generate cost surfaces, that indicates the resistance to the passage of the adductor route, using the three groups of weightings. The Dijkstra algorithm, a geometric search algorithm, is then applied to these cost surfaces to find an optimized path within the geographical space, aiming to minimize resources, time, investment, maintenance, and environmental and social impacts.Keywords: geometric search algorithm, GIS, pipeline, route optimization, spatial multi-criteria analysis model
Procedia PDF Downloads 1512695 Energy Enterprise Information System for Strategic Decision-Making
Authors: Woosik Jang, Seung H. Han, Seung Won Baek, Chan Young Park
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Natural gas (NG) is a local energy resource that exists in certain countries, and most NG producers operate within unstable governments. Moreover, about 90% of the liquefied natural gas (LNG) market is governed by a small number of international oil companies (IOCs) and national oil companies (NOCs), market entry of second movers is extremely limited. To overcome these barriers, project viability should be assessed based on limited information at the project screening perspective. However, there have been difficulties at the early stages of projects as follows: (1) What factors should be considered? (2) How many experts are needed to make a decision? and (3) How to make an optimal decision with limited information? To answer these questions, this research suggests a LNG project viability assessment model based on the Dempster-Shafer theory (DST). Total of 11 indices for the gas field analysis and 23 indices for the market environment analysis are identified that reflect unique characteristics of LNG industry. Moreover, the proposed model evaluates LNG projects based on questionnaire survey and it provides not only quantified results but also uncertainty level of results based on DST. Consequently, the proposed model as a systematic framework can support the decision-making process from the gas field projects using quantitative results, and it is developed to a stand-alone system to enhance the practical usability. It is expected to improve the decision-making quality and opportunity in LNG projects for enterprise through informed decision.Keywords: project viability, LNG project, enterprise information system, Dempster-Shafer Theory, strategic decision-making
Procedia PDF Downloads 25312694 Competence-Based Human Resources Selection and Training: Making Decisions
Authors: O. Starineca, I. Voronchuk
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Human Resources (HR) selection and training have various implementation possibilities depending on an organization’s abilities and peculiarities. We propose to base HR selection and training decisions about on a competence-based approach. HR selection and training of employees are topical as there is room for improvement in this field; therefore, the aim of the research is to propose rational decision-making approaches for an organization HR selection and training choice. Our proposals are based on the training development and competence-based selection approaches created within previous researches i.e. Analytic-Hierarchy Process (AHP) and Linear Programming. Literature review on non-formal education, competence-based selection, AHP form our theoretical background. Some educational service providers in Latvia offer employees training, e.g. motivation, computer skills, accounting, law, ethics, stress management, etc. that are topical for Public Administration. Competence-based approach is a rational base for rational decision-making in both HR selection and considering HR training.Keywords: competence-based selection, human resource, training, decision-making
Procedia PDF Downloads 323