Search results for: Advance Decisions

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 408

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 147

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

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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

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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

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

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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

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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

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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

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

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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

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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

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Authors: Libena Cernohorska, Barbora Sutorova, Petr Teply

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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

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Authors: Ivana Bulog, Ana Rimac Smiljanić, Sandra Pepur

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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

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Authors: Irene Bruna Seu

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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

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Authors: Ebru Turgal, Beyza Doganay Erdogan

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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

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Authors: Sanskriti Singh, Ankit Tomar

Abstract:

Banks are the instrument of growth of a country. Banks mobilize the savings of the public in the form of deposits and channelize it as advances for various activities required for the development of society at large. The advance which becomes unpaid for a certain period is called Non Performing Asset of the bank. The study makes an attempt to bring out the magnitude of NPA and its impact on profit, advances. An attempt is also made to bring out the challenges NPA poses to the banks and suggestions to overcome and to manage NPA effectively.

Keywords: India, NPAs, private banks, public banks

Procedia PDF Downloads 257

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 272

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

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

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

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

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Authors: Ghadeer Aly, Yasmeen Hanafy

Abstract:

The way we research travel options and decide where to go has substantially changed in the digital age. Atypical search engines like social networking sites like TikTok have evolved, influencing the preferences of various generations. The influence of TikTok use as a search engine for choosing travel locations and its effect on a country's destination branding are both examined in this study. The study specifically focuses on the comparative preferences and actions of Generations Y and Z within the Egyptian community, shedding light on how these generations interact with travel related TikTok content and how it influences their perceptions of various destinations. It also investigates how TikTok Accounts use tourism branding techniques to promote a country's tourist destination. The investigation of how social media platforms are changing as unconventional search engines has theoretical relevance. This study can advance our knowledge of how digital platforms alter information-seeking behaviors and affect the way people make decisions. Furthermore, investigating the relationship between TikTok video and destination branding might shed light on the intricate interplay between social media, perceptions of locations, and travel preferences, enhancing theories about consumer behavior and communication in the digital age. Regarding the methodology of the research, the study is conducted in two stages: first, both generations are polled, and from the results, the top three destinations are chosen to be subjected to content analysis. As for the research's theoretical framework, it incorporates the tourism destination branding model as well as the conceptual model of nation branding. Through the use of the survey as a quantitative approach and the qualitative content analysis, the research will rely on both quantitative and qualitative methods. When it comes to the theoretical framework, both the Nation Branding Model and the Tourism Branding Model can offer useful frameworks for analyzing and comprehending the dynamics of using TikTok as a search engine to choose travel destinations, especially in the context of Generation Y and Generation Z in the Egyptian community. Additionally, the sample will be drawn specifically from both Gen-Y and Gen-Z. 100 members of Gen Z and 100 members of Gen Y will be chosen from TikTok users and followers of travel-related accounts, and the sample for the content analysis will be chosen based on the survey's results.

Keywords: tiktok, nation image, egyptian community, tourism branding

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Authors: Jameelah Omolara Yaqub

Abstract:

One of the main reasons for the existence of central bank is that it is believed that central banks have some influence on private sector decisions which will enable the Central Bank to achieve some of its objectives especially that of stable price and economic growth. By the assumption of the New Keynesian theory that prices are fully flexible in the short run, the central bank can temporarily influence real interest rate and, therefore, have an effect on real output in addition to nominal prices. There is, therefore, the need for the Central Bank to monitor, respond to, and influence private sector decisions appropriately. This thus shows that the Central Bank and the private sector will both affect and be affected by each other implying considerable interdependence between the sectors. The interdependence may be simultaneous or not depending on the level of information, readily available and how sensitive prices are to agents’ expectations about the future. The aim of this paper is, therefore, to determine whether the interdependence between asset prices and monetary policy are simultaneous or not and how important is this relationship. Studies on the effects of monetary policy have largely used VAR models to identify the interdependence but most have found small effects of interaction. Some earlier studies have ignored the possibility of simultaneous interdependence while those that have allowed for simultaneous interdependence used data from developed economies only. This study, therefore, extends the literature by using data from a developing economy where information might not be readily available to influence agents’ expectation. In this study, the direction of relationship among variables of interest will be tested by carrying out the Granger causality test. Thereafter, the interaction between asset prices and monetary policy in Nigeria will be tested. Asset prices will be represented by the NSE index as well as real estate prices while monetary policy will be represented by money supply and the MPR respectively. The VAR model will be used to analyse the relationship between the variables in order to take account of potential simultaneity of interdependence. The study will cover the period between 1980 and 2014 due to data availability. It is believed that the outcome of the research will guide monetary policymakers especially the CBN to effectively influence the private sector decisions and thereby achieve its objectives of price stability and economic growth.

Keywords: asset prices, granger causality, monetary policy rate, Nigeria

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Authors: Rachel Goh, Alexander McNab, Brent Alsop, David O'Hare

Abstract:

In a busy airport, the decision whether to take passengers aside and search their luggage for dangerous items can have important consequences. If an officer fails to search and stop a bag containing a dangerous object, a life-threatening incident might occur. But stopping a bag unnecessarily means that the officer might lose time searching the bag and face an angry passenger. Passengers’ bags, however, are often cluttered with personal belongings of varying shapes and sizes. It can be difficult to determine what is dangerous or not, especially if the decisions must be made quickly in cases of busy flight schedules. Additionally, the decision to search bags is often made with input from the surrounding officers on duty. This scenario raises several questions: 1) Past findings suggest that humans are more reliant on an automated aid when under time pressure in a visual search task, but does this translate to human-human reliance? 2) Are humans more likely to agree with another person if the person is assumed to be an expert or a novice in these ambiguous situations? In the present study, forty-one participants performed a simulated luggage-screening task. They were partnered with an advisor of two different statuses (expert vs. novice), but of equal accuracy (90% correct). Participants made two choices each trial: their first choice with no advisor input, and their second choice after advisor input. The second choice was made within either 2 seconds or 8 seconds; failure to do so resulted in a long time-out period. Under the 2-second time pressure, participants were more likely to disagree with their own first choice and agree with the expert advisor, regardless of whether the expert was right or wrong, but especially when the expert suggested that the bag was safe. The findings indicate a tendency for people to assume less responsibility for their decisions and defer to their partner, especially when a quick decision is required. This over-reliance on others’ opinions might have negative consequences in real life, particularly when relying on fallible human judgments. More awareness is needed regarding how a stressful environment may influence reliance on other’s opinions, and how better techniques are needed to make the best decisions under high stress and time pressure.

Keywords: advisors, decision-making, time pressure, trust

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Authors: Dchieche Amina, Aboulaich Rajae

Abstract:

Profit and loss sharing suggests an equitable sharing of risks and profits between the parts involved in a financial transaction. Salam is a contract in which advance payment is made for goods to be delivered at a future date. The purpose of this work is to price a new contract for profit and loss sharing based on Salam contract, using Khiyar Al Ghabn which is an agreement of choice in case of misrepresent facts.

Keywords: Islamic finance, shariah compliance, profit and loss sharing, derivatives, risks, hedging, salam contract

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Authors: Arushi Singh, Anjana Jain, Prakash Vyavahare

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Recently, Li-Fi(light-fiedelity) has been launched based on VLC(visible light communication) technique, 100 times faster than WiFi. Now 5G mobile communication system is proposed to use VLC-OFDM as the transmission technique. The VLC system focused on visible rays, is considered for efficient spectrum use and easy intensity modulation through LEDs. The reason of high speed in VLC is LED, as they flicker incredibly fast(order of MHz). Another advantage of employing LED is-it acts as low pass filter results no out-of-band emission. The VLC system falls under the category of ‘green technology’ for utilizing LEDs. In present scenario, OFDM is used for high data-rates, interference immunity and high spectral efficiency. Inspite of the advantages OFDM suffers from large PAPR, ICI among carriers and frequency offset errors. Since, the data transmission technique used in VLC system is OFDM, the system suffers the drawbacks of OFDM as well as VLC, the non-linearity dues to non-linear characteristics of LED and PAPR of OFDM due to which the high power amplifier enters in non-linear region. The proposed paper focuses on reduction of PAPR in VLC-OFDM systems. Many techniques are applied to reduce PAPR such as-clipping-introduces distortion in the carrier; selective mapping technique-suffers wastage of bandwidth; partial transmit sequence-very complex due to exponentially increased number of sub-blocks. The paper discusses three companding techniques namely- µ-law, A-law and advance A-law companding technique. The analysis shows that the advance A-law companding techniques reduces the PAPR of the signal by adjusting the companding parameter within the range. VLC-OFDM systems are the future of the wireless communication but non-linearity in VLC-OFDM is a severe issue. The proposed paper discusses the techniques to reduce PAPR, one of the non-linearities of the system. The companding techniques mentioned in this paper provides better results without increasing the complexity of the system.

Keywords: non-linear companding techniques, peak to average power ratio (PAPR), visible light communication (VLC), VLC-OFDM

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Authors: Sudipto Sarkar

Abstract:

Capital is the primary fuel for starting and running a business. Since capital is crucial for every business, entrepreneurs must successfully acquire adequate capital for executing their projects. Sources for the necessary capital for entrepreneurs include their own personal funds from existing bank accounts, or lines of credit or loans from banks or financial institutions, or equity funding from investors. The most commonly selected source of capital is a bank loan. However, acquiring a loan by any entrepreneur requires adhering to strict guidelines, conditions and norms. Because not only they have to show evidence for viability of the project, but also the means to return the acquired loan. On the bank’s part, it requires that every loan officer performs a thorough credit appraisal of the prospective borrowers and makes decisions about whether or not to lend money, how much to lend, and what conditions should be attached to it. Moreover, these credit decisions in general were often based on biases, analytical techniques, or prior experience. A loan can either turn out to be good or poor, irrespective of what type of credit decisions were followed. However, based on prior experience, the loan officers seem to differentiate between a good and a bad loan by examining the borrower’s credit history, pattern of borrowing, volume of borrowing, frequency of borrowing, and reasons for borrowing. As per an article written by Maureen Wallenfang on postcrescent.com dated May 10, 2010, it is observed that borrowers with good credit, solid business plans and adequate collateral security were able to procure loans very easily in the Fox Valley region. Since loans are required to run businesses, and also with the propensity of loans to become bad, loan officers tend to be very critical and cautious before approving and disbursing the loans. The pressure to be critical and cautious, at least partly, is a result of increased scrutiny by the Securities and Exchange Commission. As per Wall Street Journal (Sidel & Eaglesham, March, 3 2011, online), the Securities and Exchange Commission scrutinized banks that have restructured troubled loans in order to make them appear healthier than they really are. Therefore, loan officers’ loan criteria are of immense importance for entrepreneurs and banks alike.

Keywords: entrepreneur, loans, marketing, banks

Procedia PDF Downloads 231

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 70

Authors: Sabrina S. W. Chan, Emily Schwartzman, Nicholas O. Rule

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Past literature showed mixed findings on how smiling affects a person’s chance of getting hired. On one hand, smiling suggests enthusiasm, cooperativeness, and enthusiasm, which can elicit positive impressions. On the other hand, smiling can suggest weaker professionalism or a filler to hide nervousness, which can lower a candidate’s perceived competence. Emotion expressions can also be perceived differently depending on the person’s gender and can activate certain gender stereotypes. Women especially face a double bind with respect to hiring decisions and smiling. Because women are socially expected to smile more, those who do not smile will be considered stereotype incongruent. This becomes a noisy signal to employers and may lower their chance of being hired. However, women’s smiling as a formality may also be an obstacle. They are more likely to put on fake smiles; but if they do, they are also likely to be perceived as inauthentic and over-expressive. This paper sought to investigate how smiling affects hiring decisions, and whether this relationship is moderated by gender. In Study 1, participants were shown a series of smiling and emotionally neutral face images, incorporated into fabricated LinkedIn profiles. Participants were asked to rate how hireable they thought that candidate was. Results showed that participants rated smiling candidates as more hireable than nonsmiling candidates, and that there was no difference in gender. Moreover, individuals who did not study business were more biased in their perceptions than those who did. Since results showed a trending favoritism over female targets, in suspect of desirability bias, a second study was conducted to collect implicit measures behind the decision-making process. In Study 2, a mouse-tracking design was adopted to explore whether participants’ implicit attitudes were different from their explicit responses on hiring. Participants asked to respond whether they would offer an interview to a candidate. Findings from Study 1 was replicated in that smiling candidates received more offers than neutral-faced candidates. Results also showed that female candidates received significantly more offers than male candidates but was associated with higher attractiveness ratings. There were no significant findings in reaction time or change of decisions. However, stronger hesitation was detected for responses made towards neutral targets when participants perceived the given position as masculine, implying a conscious attempt of making situational judgments (e.g., considering candidate’s personality and job fit) to override automatic processing (evaluations based on attractiveness). Future studies would look at how these findings differ for positions which are stereotypically masculine (e.g., surgeons) and stereotypically feminine (e.g., kindergarten teachers). Current findings have strong implications for developing bias-free hiring policies in workplace, especially for organizations who maintain online/hybrid working arrangements in the post-pandemic era. This also bridges the literature gap between face perception and gender discrimination, highlighting how engendered facial cues can affect individual’s career development and organization’s success in diversity and inclusion.

Keywords: engendered facial cues, face perception, gender stereotypes, hiring decisions, smiling, workplace discrimination

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Authors: Manish Khanna

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Higher education seeks to preserve, transmit and advance knowledge. It is one of the most important instruments of change and progress. The observation of Kothari Commission (1964-66) is true even today; The destiny of India is now being shaped in her classrooms. This, we believe, is no more rhetoric. In the world based on science and technology it is education that determines the level of prosperity, welfare, and security of the people. On the quality and number of persons coming out of our schools and colleges will depend our success in the great enterprise of national reconstruction.

Keywords: higher education, quality in academics, Kothari commission, privatising higher education

Procedia PDF Downloads 443

Authors: Eurico Lima Basto, Ofélia Pinto, Anabela Silva, Amélia Ferreira-Da-Silva

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The purpose if this study is two-fold: on the one hand, to identify the accounting information systems implemented in third sector organizations, as well as its components, its tools and the decisions and control purposes they serve; on the other hand, and by confronting these two theories - institutional theory versus rational choice – we intent to go further by understanding the reasons behind the adoption of the aforementioned tools. Data has been collected from third sector organizations operating in Portugal. Our sample includes all juridical types of organizations such as foundations, cooperative, associations or private institutions of social solidarity. The questionnaire contained sixteen close-ended questions and four open-questions. Results confirm the theoretical perspective of institutionalism. Most third sector organizations operating in Portugal implemented only traditional accounting tools like standard accounting statements, cost accounting, budgeting. Moreover, there is clear evidence that the decisions about the implementation of these tools were coercive oriented. With this study it is intended to contribute to a better understanding of the context of third sector organizations in Portugal, in particular the role that accounting plays in this sector, with a special focus on management accounting tools, and the factors that influence their use and the degree of their usefulness in the process of decision making.

Keywords: third sector, accounting tools, institutional theory, Portugal, descriptive research

Procedia PDF Downloads 283

Authors: Eman Hegazy, Stefan Anderberg, Joakim Krook

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Urban water infrastructure is crucial for efficient and reliable water supply in growing cities. With the growth of cities, the need for maintenance and renewal of these systems increases but often goes unfulfilled due to a variety of reasons, such as limited funding, political priorities, or lack of public awareness. Neglecting the renewal needs of these systems can lead to frequent malfunctions and reduced quality and reliability of water supply, as well as increased costs and health and environmental hazards. It is important for cities to prioritize investment in water infrastructure and develop long-term plans to address renewal needs. Drawing general conclusions about the rate of renewal of urban water infrastructure systems at an international or national level can be challenging due to the influence of local management decisions. In many countries, the responsibility for water infrastructure management lies with the municipal authorities, who are responsible for making decisions about the allocation of resources for repair, maintenance, and renewal. These decisions can vary widely based on factors such as local finances, political priorities, and public perception of the importance of water infrastructure. As a result, it is difficult to make generalizations about the rate of renewal across different countries or regions. In Sweden, the situation is not different, and the information from Svenskt Vatten indicates that the rate of renewal varies across municipalities and can be insufficient, leading to a buildup of maintenance and renewal needs. This study aims to examine the adequacy of the rate of renewal of urban water infrastructure in Linköping case city in Sweden. Using a case study framework, the study will assess the current status of the urban water system and the need for renewal. The study will also consider the role of factors such as proper identification processes, limited funding, competing for political priorities, and local management decisions in contributing to insufficient renewal. The study investigates the following questions: (1) What is the current status of water and sewerage networks in terms of length, age distribution, and material composition, estimated total water leakage in the network per year, damages, leaks, and outages occur per year, both overall and by district? (2) What are the main causes of these damages, leaks, and interruptions, and how are they related to lack of maintenance and renewal? (3) What is the current status of renewal work for the water and sewerage networks, including the renewal rate and changes over time, recent renewal material composition, and the budget allocation for renewal and emergency repairs? (4) What factors influence the need for renewal and what conditions should be considered in the assessment? The findings of the study provide insights into the challenges facing urban water infrastructure and identify strategies for improving the rate of renewal to ensure a reliable and sustainable water supply.

Keywords: case study, infrastructure, management, renewal need, Sweden

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Authors: Yeliz Ekinci, Raife Merve Ön

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Nowadays, technological progress is one of the most important components of economic growth and the efficiency of R&D activities is particularly essential for countries. This study is an attempt to analyze the R&D efficiencies of EU countries. The indicators related to R&D efficiencies should be determined in advance in order to use DEA. For this reason a list of input and output indicators are derived from the literature review. Considering the data availability, a final list is given for the numerical analysis for future research.

Keywords: data envelopment analysis, economic growth, EU countries, R&D efficiency

Procedia PDF Downloads 512

Authors: Mark K. Johnson

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Arvo Pärt has composed over 80 text-based compositions based on nine different languages. But prior to 2015, it was not publicly known what texts the composer used in composing a number of his non-vocal works, nor the language of those texts. Because of this lack of information, few if any musical scholars have illustrated in any detail how textual structure applies to any of Pärt’s instrumental compositions. However, in early 2015, the Arvo Pärt Centre in Estonia published In Principio, a compendium of the texts Pärt has used to derive many of the parameters of his text-based compositions. This paper provides the first detailed analysis of the relationship between structural aspects of the Church Slavonic Eastern Orthodox text of Psalm 112 and the musical parameters that Pärt used when composing the string orchestral work Psalom. It demonstrates that Pärt’s text-based compositions are carefully crafted works, and that evidence of the presence of the ‘invisible’ hand of the composer can be found within every aspect of the underpinning structures, at the more elaborate middle ground level, and even within surface aspects of these works. Based on the analysis of Psalom, it is evident that the text Pärt selected for Psalom informed many of his decisions regarding the musical structures, parameters and processes that he deployed in composing this non-vocal text-based work. Many of these composerly decisions in relation to these various aspects cannot be fathomed without access to, and an understanding of, the text associated with the work.

Keywords: Arvo Pärt, minimalism, psalom, text-based process music

Procedia PDF Downloads 199