Search results for: decision making behavior

Authors: K. Asanimoghadam, M. Salahi, A. Jamalian

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Data envelopment analysis is an approach to measure the efficiency of decision making units with multiple inputs and outputs. The structure of many decision making units also has decision-making subunits that are not considered in most data envelopment analysis models. Also, the inputs and outputs of the decision-making units usually are considered desirable, while in some real-world problems, the nature of some inputs or outputs are undesirable. In this thesis, we study the evaluation of the efficiency of two stage decision-making units, where some outputs are undesirable using two non-radial models, the SBM and the ASBM models. We formulate the nonlinear ASBM model as a second order cone optimization problem. Finally, we compare two models for both external and internal evaluation approaches for two real world example in the presence of undesirable outputs. The results show that, in both external and internal evaluations, the overall efficiency of ASBM model is greater than or equal to the overall efficiency value of the SBM model, and in internal evaluation, the ASBM model is more flexible than the SBM model.

Keywords: network DEA, conic optimization, undesirable output, SBM

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Authors: S. Anastasiou, C. Nathanailides

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There is considerable evidence to suggest that employees participation in the decision-making process of an organisation, has a positive effect on job satisfaction and work performance of the employees. The purpose of the present work was to examine the HRM practices, demographics and the level of job satisfaction of employees in Greek Aquaculture fish farms. A survey of employees (n=86) in 6 Greek Aquaculture Firms was carried out. The results indicate that HRM practices such as recruitment of the personnel and communication between the departments did not vary between different firms. The most frequent method of recruitment was through the professional network or the personal network of the managers. The preferred method of HRM communication was through the line managers and through group meeting. The level of job satisfaction increased with work experience participation and participation in the decision making process. A high percentage of the employees (81,3%±8.39) felt that they frequently participated in the decision making process. The Aquaculture employees exhibited high level of job satisfaction (88,1±6.95). The level of job satisfaction was related with participation in the decision making process (-0.633, P<0.05) but was not related with as age or gender. In terms of the working conditions, employees were mostly satisfied with their work itself, their colleagues and mostly dissatisfied with working hours, salary issues and low prospects of pay rises.

Keywords: aquaculture, human resources, job satisfaction

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Authors: Seyyedeh Mahdis Mousavi, Masoud Maghsoudi, Zahra Vahed

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The purpose of this paper is to examine the relationship between emotional intelligence as conceptualized in Goleman’s competency model, and decision making styles in levels of management. To conduct this study, different level managers in Iran Broadcasting Organization completed a questionnaire on emotional intelligence and decision making styles. Researcher used descriptive and inferential statistics to describe data and analyze the two variables relationship in managers of three levels. Results revealed significant relationships for rational, dependent, avoidant, and spontaneous styles. No significant relationship was found for intuitive style. Yet the results indicate that avoidant style has negative relation to EI. Furthermore, EI has direct and strong relation to rational style.

Keywords: emotional intelligence (EI), decision making styles, Islamic Republic of Iran Broadcasting (IRIB), Iranian manager

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Authors: Christoph Ostermair

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We deal with the effect of correlation between prospects on human decision making under uncertainty as proposed by the comparatively new and promising model of “salience theory of choice under risk”. In this regard, we show that the theory entails the prediction that the inconsistency of choices, known as the Allais paradox, should not be an issue in the context of “real-life decision making”, which typically corresponds to situations of subjective uncertainty. The Allais paradox, probably the best-known anomaly regarding expected utility theory, would then essentially have no practical relevance. If, however, empiricism contradicts this prediction, salience theory might suffer a serious setback. Explanations of the model for variable human choice behavior are mostly the result of a particular mechanism that does not come to play under perfect correlation. Hence, if it turns out that correlation between prospects – as typically found in real-world applications – does not influence human decision making in the expected way, this might to a large extent cost the theory its explanatory power. The empirical literature regarding the Allais paradox under subjective uncertainty is so far rather moderate. Beyond that, the results are hard to maintain as an argument, as the presentation formats commonly employed, supposably have generated so-called event-splitting effects, thereby distorting subjects’ choice behavior. In our own incentivized experimental study, we control for such effects by means of two different choice settings. We find significant event-splitting effects in both settings, thereby supporting the suspicion that the so far existing empirical results related to Allais paradoxes under subjective uncertainty may not be able to answer the question at hand. Nevertheless, we find that the basic tendency behind the Allais paradox, which is a particular switch of the preference relation due to a modified common consequence, shared by two prospects, is still existent both under an event-splitting and a coalesced presentation format. Yet, the modal choice pattern is in line with the prediction of salience theory. As a consequence, the effect of correlation, as proposed by the model, might - if anything - only weaken the systematic choice pattern behind the Allais paradox.

Keywords: Allais paradox, common consequence effect, models of decision making under risk and uncertainty, salience theory

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Authors: Farzane Sadatnia, Bahram Fathi

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Today, all public and private organizations have found that the management of the world for key information related to the activities of a staff and its main essence and philosophy, though they constitute the management information systems are very helpful in this respect the right to apply systems can save a lot in terms of economic organizations including reducing the time decision - making, improve the quality of decision making, and cost savings to bring information systems is a backup system that can never be instead of logic and human reasoning, which can be used in the series is spreading, providing resources, and provide the necessary facilities, provide better services for users, balanced budget allocation, determine strengths and weaknesses and previous plans to review the current decisions and especially the decision . Hence; in this study attempts to the effect of an information system on a review of the organization.

Keywords: information system, planning, organization, coordination, control

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Authors: Yuliya Lipshits-Braziler

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For many young adults, career decision making is a difficult and complex process that may lead to indecision. Indecision is frequently associated with great psychological distress and low levels of well-being. One important resource for dealing with indecision is career decision self-efficacy (CDSE), which refers to people’s beliefs about their ability to successfully accomplish certain tasks involved in career choice. Drawing from Social Cognitive Theory, it has been hypothesized that CDSE correlates with (a) people’s likelihood to engage in or avoid career decision making tasks, (b) the amount of effort put into the decision making process, (c) the people’s persistence in decision making efforts when faced with difficulties, and (d) the eventual success in arriving at career decisions. Based on these assumptions, the present study examines the associations between the CDSE and 14 strategies for coping with career indecision among young adults. Using the structural equation modeling (SEM), the results showed that CDSE is positively associated with the use of productive coping strategies, such as information-seeking, problem-solving, positive thinking, and self-regulation. In addition, CDSE was negatively associated with nonproductive coping strategies, such as avoidance, isolation, ruminative thinking, and blaming others. Contrary to our expectations, CDSE was not significantly correlated with instrumental help-seeking, while it was negatively correlated with emotional help-seeking. The results of this study can be used to facilitate the development of interventions aiming to reinforce young adults’ career decision making self-efficacy, which may provide them with a basis for overcoming career indecision more effectively.

Keywords: career decision self-efficacy, career indecision, coping strategies, career counseling

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Authors: Irina Khutsishvili

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The presented study develops a decision support methodology for multi-criteria group decision-making problem. The proposed methodology is based on the TOPSIS (Technique for Order Performance by Similarity to Ideal Solution) approach in the hesitant fuzzy environment. The main idea of decision-making problem is a selection of one best alternative or several ranking alternatives among a set of feasible alternatives. Typically, the process of decision-making is based on an evaluation of certain criteria. In many MCDM problems (such as medical diagnosis, project management, business and financial management, etc.), the process of decision-making involves experts' assessments. These assessments frequently are expressed in fuzzy numbers, confidence intervals, intuitionistic fuzzy values, hesitant fuzzy elements and so on. However, a more realistic approach is using linguistic expert assessments (linguistic variables). In the proposed methodology both the values and weights of the criteria take the form of linguistic variables, given by all decision makers. Then, these assessments are expressed in triangular fuzzy numbers. Consequently, proposed approach is based on triangular hesitant fuzzy TOPSIS decision-making model. Following the TOPSIS algorithm, first, the fuzzy positive ideal solution (FPIS) and the fuzzy negative-ideal solution (FNIS) are defined. Then the ranking of alternatives is performed in accordance with the proximity of their distances to the both FPIS and FNIS. Based on proposed approach the software package has been developed, which was used to rank investment projects in the real investment decision-making problem. The application and testing of the software were carried out based on the data provided by the ‘Bank of Georgia’.

Keywords: fuzzy TOPSIS approach, investment project, linguistic variable, multi-criteria decision making, triangular hesitant fuzzy set

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Authors: Gultekin Gurcay

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It is known that the most crucial influence of the psychological, social and emotional factors that affect any human behavior is to corrupt the rational decision making mechanism of the individuals and cause them to display irrational behaviors. In this regard, the social context of human beings influences the rationality of our decisions, and people tend to display different behaviors when they were alone compared to when they were surrounded by others. At this point, the interaction and interdependence of the behavioral finance and economics with the area of social psychology comes, where intentions and the behaviors of the individuals are being analyzed in the actual or implied presence of others comes into prominence. Within the context of this study, the prevalent theories of behavioral finance, which are The Prospect Theory, The Utility Theory Given Uncertainty and the Five Axioms of Choice under Uncertainty, Veblen’s Hidden Utility Theory, and the concept of ‘Overreaction’ has been examined and demonstrated; and the meaning, existence and validity of these theories together with the social context has been assessed. Finally, in this study the behavior of the individuals in financial crisis situations where the majority of the society is being affected from the same negative conditions at the same time has been analyzed, by taking into account how individual behavior will change according to the presence of the others.

Keywords: conditional variance coefficient, financial crisis, garch model, stock market

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Authors: Bashaiar Alsanaa

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The process of decision making requires environment surveillance and public opinion monitoring, both of which can be attained through effective use of social media. This study aims to investigate the extent to which new media influence the decision making process by the Kuwaiti government. The research explores how unprecedented access to information as well as dynamic user-interaction made possible by new technologies play a significant role in all aspects of decision making whether on the end of the public or decision makers themselves. The research analyzes two case studies where public opinion was forceful on social media in order to explore how such media create interactive and liberal environments for individuals to participate in the process of taking action with regards to political, economic and social issues. The findings of this descriptive study indicate the overwhelming extent to which social media are being used in Kuwait to create new social reform by the government based on citizen interaction with current topics.

Keywords: communication, descriptive, new media technologies, social media.

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Authors: Masood Karamoozian, Zhang Hong

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The necessity and complexity of the decision-making process and the interference of the various factors to make decisions and consider all the relevant factors in a problem are very obvious nowadays. Hence, researchers show their interest in multi-criteria decision-making methods. In this research, the Analytical Hierarchy Process (AHP), Simple Additive Weighting (SAW), and Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) methods of multi-criteria decision-making have been used to solve the problem of optimal construction systems. Systems being evaluated in this problem include; Light Steel Frames (LSF), a case study of designs by Zhang Hong studio in the Southeast University of Nanjing, Insulating Concrete Form (ICF), Ordinary Construction System (OCS), and Prefabricated Concrete System (PRCS) as another case study designs in Zhang Hong studio in the Southeast University of Nanjing. Crowdsourcing was done by using a questionnaire at the sample level (200 people). Questionnaires were distributed among experts, university centers, and conferences. According to the results of the research, the use of different methods of decision-making led to relatively the same results. In this way, with the use of all three multi-criteria decision-making methods mentioned above, the Prefabricated Concrete System (PRCS) was in the first rank, and the Light Steel Frame (LSF) system ranked second. Also, the Prefabricated Concrete System (PRCS), in terms of performance standards and economics, was ranked first, and the Light Steel Frame (LSF) system was allocated the first rank in terms of environmental standards.

Keywords: multi-criteria decision making, AHP, SAW, TOPSIS

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Authors: Erfan Izadpanah

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The present study was conducted to investigate the effect of the Trans-Cranial Direct Current Stimulation (tDCS) on cognitive flexibility and social decision-making in skilled, semi-skilled and novice football players. The present quasi-experimental pretest-posttest study was conducted on 60 randomly-selected subjects divided into trial and placebo groups (n=30 per group). The trial group received three 20-minute sessions of anodic stimulation at the intensity of 2 mA. The placebo group also received three sessions of sham anodic stimulation. Data were collected using the Wisconsin, Grant and Berg Card-Sorting Test (1948) and the ultimatum game and were then analyzed using the ANCOVA. The results showed significant differences between the skilled, semi-skilled and novice football players in the trial and placebo groups in terms of cognitive flexibility and social decision-making (P<0.01). TDCS appears to be able to improve cognitive flexibility and consequently social decision-making in football players and is recommended to sport psychologists and coaches as a useful intervention to increase cognitive flexibility and improve social decision-making in players.

Keywords: TDCS, cognitive flexibility, social decision-making, skilled, semi-skilled and novice football players

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Authors: Helen Pushkarskaya, Michael Smithson, Jane E. Joseph, Christine Corbly, Ifat Levy

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Studies of decision making under uncertainty generally focus on imprecise information about outcome probabilities (“ambiguity”). It is not clear, however, whether conflicting information about outcome probabilities affects decision making in the same manner as ambiguity does. Here we combine functional Magnetic Resonance Imaging (fMRI) and a simple gamble design to study this question. In this design, the levels of ambiguity and conflict are parametrically varied, and ambiguity and conflict gambles are matched on both expected value and variance. Behaviorally, participants avoided conflict more than ambiguity, and attitudes toward ambiguity and conflict did not correlate across subjects. Neurally, regional brain activation was differentially modulated by ambiguity level and aversion to ambiguity and by conflict level and aversion to conflict. Activation in the medial prefrontal cortex was correlated with the level of ambiguity and with ambiguity aversion, whereas activation in the ventral striatum was correlated with the level of conflict and with conflict aversion. This novel double dissociation indicates that decision makers process imprecise and conflicting information differently, a finding that has important implications for basic and clinical research.

Keywords: decision making, uncertainty, ambiguity, conflict, fMRI

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Authors: Xueqing Ivy Chen, Christo De Coning

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It is clear from practice that a gap exists between Result-Based Monitoring and Evaluation (RBME) as a discipline, and Knowledge Management (KM) on the other hand. Whereas various government departments have institutionalised these functions, KM and M&E has functioned in isolation from each other in a practical sense in the public sector. It’s therefore necessary to explore the relationship between KM and M&E and the necessity for integration, so that a convergence of these disciplines can be established. An integration of KM and M&E will lead to integration and improvement of evidence-based information and policy decision-making. M&E and KM process models are available but the complementarity between specific process steps of these process models are not exploited. A need exists to clarify the relationships between these functions in order to ensure evidence based information and policy decision-making. This paper will depart from the well-known policy process models, such as the generic model and consider recent on the interface between policy, M&E and KM.

Keywords: result-based monitoring and evaluation, RBME, knowledge management, KM, evident based decision making, public policy, information systems, institutional arrangement

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Authors: Ahmed M. El-Araby, Ibrahim Sabry, Ahmed El-Assal

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The relationships between the industrial facilities, the capacity available for these facilities, and the costs involved are the main factors in deciding the correct selection of a facility layout. In general, an issue of facility layout is considered to be an unstructured problem of decision-making. The objective of this work is to provide a survey that describes the techniques by which a facility planning problem can be solved and also the effect of these techniques on the efficiency of the layout. The multi-criteria decision making (MCDM) techniques can be classified according to the previous researches into three categories which are the use of single MCDM, combining two or more MCDM, and the integration of MCDM with another technique such as genetic algorithms (GA). This paper presents a review of different multi-criteria decision making (MCDM) techniques that have been proposed in the literature to pick the most suitable layout design. These methods are particularly suitable to deal with complex situations, including various criteria and conflicting goals which need to be optimized simultaneously.

Keywords: facility layout, MCDM, GA, literature review

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Authors: Joseph Ignagni, Rebecca Deen

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In this study, the decision making of the Justices of the United States Supreme Court will be considered in terms of constrained maximization and cognitive-cybernetic theory. This paper will integrate research in such fields as law, psychology, political science, economics and decision-making theory. It will be argued that due to its heavy workload, the Supreme Court may be forced to make decisions in a boundedly rational manner. The ideas and theory put forward here will be considered in the area of the Court’s decisions involving religion. Therefore, the cases involving the U.S. Constitution’s Free Exercise Clause and Establishment Clause will be analyzed.

Keywords: bounded rationality, cognitive-cybernetic, US supreme court, religion

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Authors: A. Luli, A. Santona

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It is rare for individuals that are involved in a relationship to think about the possibility of having procreation problems in the near present or in the future. However, infertility is a condition that affects millions of people all around the world. Often, infertile individuals have to deal with experiences of psychological, relational and social problems. In these cases, they have to review their choices and take into consideration, if it is necessary, new ones. Different studies have examined the different decisions that infertile individuals have to go through dealing with infertility and its treatment, but none of them is focused on the decision-making style used by infertile individuals to solve their problem and on the factors that influences it. The aim of this paper is to define the style of decision-making used by infertile persons to give a solution to the ‘problem’ and the potential predictive role of the attachment and of the dyadic adjustment. The total sample is composed by 251 participants, divided in two groups: the experimental group composed by 114 participants, 62 males and 52 females, age between 25 and 59 years, and the control group composed by 137 participants, 65 males and 72 females, age between 22 and 49 years. The battery of instruments used is composed by: the General Decision Making Style (GDMS), the Experiences in Close Relationships Questionnaire Revised (ECR-R), Dyadic Adjustment Scale (DAS), and the Symptom Checklist-90-R (SCL-90-R). The results from the analysis of the samples showed a prevalence of the rational decision-making style for both males and females. No significant statistical difference was found between the experimental and control group. Also the analyses showed a significant statistical relationship between the decision making styles and the adult attachment styles for both males and females. In this case, only for males, there was a significant statistical difference between the experimental and the control group. Another significant statistical relationship was founded between the decision making styles and the adjustment scales for both males and females. Also in this case, the difference between the two groups was founded to be significant only of males. These results contribute to enrich the literature on the subject of decision-making styles in infertile individuals, showing also the predictive role of the attachment styles and the adjustment, confirming in this was the few results in the literature.

Keywords: adjustment, attachment, decision-making style, infertility

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Authors: Winita Kitisak, Boontarika Panyomoon, Siriyakorn Nilpoun, Nithit Yosit, Peeraya Somsak

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The purpose of this study will affect the marketing mix that influences the consumers’ behavior towards beverage purchasing from retail stores. It aims to study the consumers and to better understand their behaviors and factors influencing their decision making on buying beverage in retail stores. We study the example of 400 consumers in Chiang Mai. The study shows that most of the respondents were male, 50 percent is 20-30 year old, and 36.66 percent is 31-40 year old, only 2.66 percent is upper 50 years old, bachelor’s degree holders, working in business field and student with 10,001-15,000 Baht income. Most buyers spend 4-6 times a week buying cheap beverage from retail stores. The consumer bought alcoholic beverages, green tea drinks, and soft drinks, but the mainly purchased product was beer. The results indicate that the brand of the product motivates more on consumers’ demand. While shelf displays, products presentation, and sales promotion affect the most on the consumers’ decision to purchase from the retail stores, the promotions moderately impact the consumers’ decision on purchasing from retail stores.

Keywords: consumer behavior, beverage, retail stores, convenience store

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Authors: Sarah Müller-Sägebrecht

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Today’s volatile environment challenges executives to make the right strategic decisions to gain sustainable success. Entrepreneurship scholars postulate mainly positive effects of environmental changes on entrepreneurship behavior, such as developing new business opportunities, promoting ingenuity, and the satisfaction of resource voids. A strategic solution approach to overcome threatening environmental changes and catch new business opportunities is business model innovation (BMI). Although this research stream has gained further importance in the last decade, BMI research is still insufficient. Especially BMI barriers, such as inefficient strategic decision-making processes, need to be identified. Strategic decisions strongly impact organizational future and are, therefore, usually made in groups. Although groups draw on a more extensive information base than single individuals, group-interaction effects can influence the decision-making process - in a favorable but also unfavorable way. Decisions are characterized by uncertainty and risk, whereby their intensity is perceived individually differently. The individual risk-willingness influences which option humans choose. The special nature of strategic decisions, such as in BMI processes, is that these decisions are not made individually but in groups due to their high organizational scope. These groups consist of different personalities whose individual risk-willingness can vary considerably. It is known from group decision theory that these individuals influence each other, observable in different group-interaction effects. The following research questions arise: i) How does group interaction shape BMI decision-making from managers’ perspective? ii) What are the potential interrelations among managers’ risk-willingness, group biases, and BMI decision-making? After conducting 26 in-depth interviews with executives from the manufacturing industry, applied Gioia methodology reveals the following results: i) Risk-averse decision-makers have an increased need to be guided by facts. The more information available to them, the lower they perceive uncertainty and the more willing they are to pursue a specific decision option. However, the results also show that social interaction does not change the individual risk-willingness in the decision-making process. ii) Generally, it could be observed that during BMI decisions, group interaction is primarily beneficial to increase the group’s information base for making good decisions, less than for social interaction. Further, decision-makers mainly focus on information available to all decision-makers in the team but less on personal knowledge. This work contributes to strategic decision-making literature twofold. First, it gives insights into how group-interaction effects influence an organization’s strategic BMI decision-making. Second, it enriches risk-management research by highlighting how individual risk-willingness impacts organizational strategic decision-making. To date, it was known in BMI research that risk aversion would be an internal BMI barrier. However, with this study, it becomes clear that it is not risk aversion that inhibits BMI. Instead, the lack of information prevents risk-averse decision-makers from choosing a riskier option. Simultaneously, results show that risk-averse decision-makers are not easily carried away by the higher risk-willingness of their team members. Instead, they use social interaction to gather missing information. Therefore, executives need to provide sufficient information to all decision-makers to catch promising business opportunities.

Keywords: business model innovation, cognitive biases, group-interaction effects, strategic decision-making, risk-willingness

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Authors: Aseela Alhinaai, Suliman Abdullah, Adil Albusaidi

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Knowledge has been considered an important asset in private and public organizations. It is utilized in the libraries sector to run different operations of technical services and administrative works. As a result, the International Federation of Library Association (IFLA) established a department “Knowledge Management” in December 2003 to provide a deep understanding of the KM concept for professionals. These are implemented through different programs, workshops, and activities. This study aims to identify the impact of the knowledge-sharing factors (technology, collaboration, management support) to improve decision-making at Sultan Qaboos University Libraries. This study conducted a quantitative method using a questionnaire instrument to measure the impact of technology, collaboration, and management support on knowledge sharing that lead to improved decision-making. The study population is the (SQU) libraries (Main Library, Medical Library, College of Economic and political science library, and Art Library). The results showed that management support, collaboration, and technology use have a positive impact on the knowledge-sharing process, and knowledge-sharing positively affects the decision making process.

Keywords: knowledge sharing, decision-making, information technology, management support, corroboration, Sultan Qaboos University

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Authors: Vaida Zemlickiene

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Scientists around the world and practitioners are working to identify the factors that influence the results of technology commercialization and to propose the ideal model for the technology commercialization process. In other words, all stakeholders of technology commercialization seek to find a formula or set of rules to succeed in commercializing technologies in order to avoid unproductive investments. In this article, the process of commercialization technology is understood as the process of transforming inventions into marketable products, services, and processes, or the path from the idea of using an invention to a product that incorporates process from 1 to 9 technology readiness level (TRL). There are many publications in the field of management literature, which are aimed at managing the commercialization process. However, there is an apparent lack of research for communication in decision-making in the process of technology commercialization. Works were done in the past, and the last decade's global research analysis led to the unambiguous conclusion that the methodological framework is not mature enough to be of practical use in business. The process of technology commercialization and the decisions made in the process should be explored in-depth. An archival analysis is performed to find insights into decision-making communication in the process of technologies commercialization, to find out the content of technology commercialization process: decision-making stages and participants, to analyze the internal factors of technology commercialization, to perform their critical analysis, to analyze the concept of successful/unsuccessful technology commercialization.

Keywords: the process of technology commercialization, communication in decision-making process, the content of technology commercialization process, successful/unsuccessful technology commercialization

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Authors: Okay Gunes

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Unsatisfactory experiences due to an information shortage regarding the future pay-offs of actual choices, yield satisficing decision-making. This research will examine, for the first time in the literature, the motivation behind suboptimal decisions due to uncertainty by subjecting Adam Smith’s and Jeremy Bentham’s assumptions about the nature of the actions that lead to satisficing behavior, in order to clarify the theoretical background of a “consumption-based satisfactory time” concept. The contribution of this paper with respect to the existing literature is threefold: Firstly, it is showed in this paper that Adam Smith’s uncertainty is related to the problem of the constancy of ideas and not related directly to beliefs. Secondly, possessions, as in Jeremy Bentham’s oeuvre, are assumed to be just as pleasing, as protecting and improving the actual or expected quality of life, so long as they reduce any displeasure due to the undesired outcomes of uncertainty. Finally, each consumption decision incurs its own satisfactory time period, owed to not feeling hungry, being healthy, not having transportation…etc. This reveals that the level of satisfaction is indeed a behavioral phenomenon where its value would depend on the simultaneous satisfaction derived from all activities.

Keywords: decision-making, idea and belief, satisficing, uncertainty

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Authors: Mui Joo Tang, Eang Teng Chan

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Advertising is commonly used to foster sales and reputation of an institution. It is at first the growth of print advertising that has increased the population and number of periodicals of newspaper and its circulation. The rise of Internet and online media has somehow blurred the role of media and advertising though the intention is still to reach out to audience and to increase sales. The relationship between advertising and audience on a product purchase through persuasion has been developing from print media to online media. From the changing media environment and audience, it is the concern of this research to study the impact of online advertising to such a relationship cycle. The content of online advertisements is much of text, multimedia, photo, audio and video. The messages of such content format may indeed bring impacts to its audience and its credibility. This study is therefore reflecting the effectiveness of online advertisement and its influences on generation Y in their purchasing behavior. This study uses Media Dependency Theory to analyze the relationship between the impact of online advertisement and media usage pattern of generation Y. Hierarchy of Effectiveness Model is used as a marketing communication model to study the effectiveness of advertising and further to determine the impact of online advertisement on generation Y in their purchasing decision making. This research uses online survey to reach out the sample of generation Y. The results have shown that online advertisements do not affect much on purchase decision making even though generation Y relies much on the media content including online advertisement for its information and believing in its credibility. There are few other external factors that may interrupt the effectiveness of online advertising. The very obvious influence of purchasing behavior is actually derived from the peers.

Keywords: generation Y, purchase decision, print media, online advertising, persuasion

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Authors: Jeremy Goldsmith

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The Gambia, the smallest country in mainland Africa and one of the poorest countries on Earth, is currently experiencing historically unprecedented levels of out-migration to Europe. As a result, Gambians are currently among the top four nationalities emigrating to Europe. The central question that this thesis will address is: what factors impact the migration-related decision-making capabilities of Gambians? Based on interviews with NGOs, as well as those who have migrated and returned, are planning to migrate, and their friends and families, a pattern will emerge. This pattern will be woven into first person narratives which will explore the politico-economic, environmental, and socio-cultural factors that inform individual decision-making with regards to migration.

Keywords: migration, The Gambia, Africa, politico-economic, sociocultural, environmental

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Authors: Mariam Shah

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Strict liability is frequently used in magistrate’s courts for TV license and driving offences.There is existing research suggesting that the strict liability approach to criminal offences can result in ‘absurd’ judicial outcomes, or potentially ‘injustice’.This paper will discuss the potential merits of strict liability as a method for dealing with shoplifting offences.Currently, there is disparity in sentencing outcomes in the UK, particularly in relation to shoplifting offences.This paper will question whether ‘injustice’ is actually in the differentiation of defendants based upon their ‘perceived’ circumstances, which could be resulting in arbitrary judicial decision making.

Keywords: arbitrary, decision making, judicial decision making, shoplifting, stereotypes, strict liability

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Authors: Nurunnaher Nurunnaher

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This paper examines the impact of women’s participation in microcredit on women’s decision making in the slum areas of Dhaka city, Bangladesh. There is confusion in the literature about whether women’s empowerment is or is not a trickle down impact of poverty alleviation or household well-being, and the studies use more or less similar indicators to measure the status of household and the status of women. Studies very rarely conceptualize and operationalize the term ‘empowerment’ as the word is often used without proper care by policy makers and development practitioners instead of household wellbeing. Currently, decision making in many studies has been used as an indicator of women’s empowerment when assessing the impact of microcredit programs on women. Based on a qualitative and feminist study this paper operationalizes women’s empowerment through the development of a conceptual framework, the identification of assessment criteria and the development of proper indicators that guided the whole study. The testimonies of participants, both men and women, were the basis of exploration of women’s lived experiences, which is the most appropriate method to explore the impact of such programs on women’s empowerment. The study considers empowerment as a process that affects various levels of life and gender relationships. The study found that there is a positive change in women’s position in decision making when women have developed an independent economic base with credit money. However, predominantly, women’s decision making is shared with men with the final decision still in the men’s hands. It can be said that women’s microcredit participation has not significantly challenged the social norms, therefore it is not surprising that women who hand over credit to their husband rarely have any power in intra-household bargaining process. Nevertheless, overall it is evident that women are continuously struggling toward the freedom to have the authority over household, economic and personal matters. It is concluded that while making strategic choices or gaining empowerment requires several steps, women’s participation in decision-making has several implications on their lives and potentially challenges patriarchy.

Keywords: women, gender inequality/equality, decision making, empowerment, microcredit, slums, Dhaka, Bangladesh

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Authors: Khalid Bashir, Hammad Zahid

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Most of the investors consider that economic and financial information is the most important at the time of making investment decisions. But it is not true, as in the past two decades, the Behavioral aspects and the behavioral biases have gained an important place in the decision-making process of an investor. This study is basically conducted on this fact. The purpose of this study is to examine the impact of behavioral factors on the decision-making of the individual real estate investor in Pakistan. Some important behavioral factors like overconfidence, anchoring, gambler’s fallacy, home bias, loss aversion, regret aversion, mental accounting, herding and representativeness are used in this study to find their impact on the psychology of individual investors. The targeted population is the real estate investor of Pakistan, and a sample of 650 investors is selected on the basis of convenience sampling technique. The data is collected through the questionnaire with a response rate of 46.15 %. Descriptive statistical techniques and SEM are used to analyze the data by using statistical software. The results revealed the fact that some behavioral factors have a significant impact on the decision-making of investors. Among all the behavioral biases, overconfidence, anchoring, gambler’s fallacy, loss aversion and representativeness have a significant positive impact on the decision-making of the individual investor, while the rest of biases like home bias, regret aversion, mental accounting, herding have less impact on the decision-making process of an individual.

Keywords: behavioral finance, anchoring, gambler’s fallacy, loss aversion

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Authors: U. S. Putro, L. Mayangsari, M. Siallagan, N. P. Tjahyani

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National Collective Management Institute (LKMN) in Indonesia stated that legal music products were about 77.552.008 unit while illegal music products were about 22.0688.225 unit in 1996 and this number keeps getting worse every year. Consequently, Indonesia named as one of the countries with high piracy levels in 2005. This study models people decision toward unlawful behavior, music content piracy in particular, using agent-based modeling and simulation (ABMS). The classification of actors in the model constructed in this study are legal consumer, illegal consumer, and neutral consumer. The decision toward piracy among the actors is a manifestation of the social norm which attributes are social pressure, peer pressure, social approval, and perceived prevalence of piracy. The influencing attributes fluctuate depending on the majority of surrounding behavior called social network. There are two main interventions undertaken in the model, campaign and peer influence, which leads to scenarios in the simulation: positively-framed descriptive norm message, negatively-framed descriptive norm message, positively-framed injunctive norm with benefits message, and negatively-framed injunctive norm with costs message. Using NetLogo, the model is simulated in 30 runs with 10.000 iteration for each run. The initial number of agent was set 100 proportion of 95:5 for illegal consumption. The assumption of proportion is based on the data stated that 95% sales of music industry are pirated. The finding of this study is that negatively-framed descriptive norm message has a worse reversed effect toward music piracy. The study discovers that selecting the context-based campaign is the key process to reduce the level of intention toward music piracy as unlawful behavior by increasing the compliance awareness. The context of Indonesia reveals that that majority of people has actively engaged in music piracy as unlawful behavior, so that people think that this illegal act is common behavior. Therefore, providing the information about how widespread and big this problem is could make people do the illegal consumption behavior instead. The positively-framed descriptive norm message scenario works best to reduce music piracy numbers as it focuses on supporting positive behavior and subject to the right perception on this phenomenon. Music piracy is not merely economical, but rather social phenomenon due to the underlying motivation of the actors which has shifted toward community sharing. The indication of misconception of value co-creation in the context of music piracy in Indonesia is also discussed. This study contributes theoretically that understanding how social norm configures the behavior of decision-making process is essential to breakdown the phenomenon of unlawful behavior in music industry. In practice, this study proposes that reward-based and context-based strategy is the most relevant strategy for stakeholders in music industry. Furthermore, this study provides an opportunity that findings may generalize well beyond music piracy context. As an emerging body of work that systematically constructs the backstage of law and social affect decision-making process, it is interesting to see how the model is implemented in other decision-behavior related situation.

Keywords: music piracy, social norm, behavioral decision-making, agent-based model, value co-creation

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Authors: Bincy Mathew, B. William Dharma Raja

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Successful decision making in a social setting depends on the ability to understand the intentions, emotions and beliefs of others. Children live and grow in the social world. Individuals think to satisfy their curiosity and mush of their social thought is practical, to attain their goal. Children’s thought about their social world influences how they behave towards it. The main purpose of this paper is to review the influence of decision making on adjustment behaviour of visually challenged adolescents. The sample was purposively selected to study the cases of two of the visually challenged adolescents from a Special School, in Tirunelveli, Tamil Nadu, India. The authors appraised the observed behaviour of adjustment in these children. It may be concluded that the social cognitive ability of decision making is at least, to certain extent, influences adjustment behaviour of visually challenged adolescents. Adjustment behaviour attempts to maintain a child’s level of physiological and psychological equilibrium and it is directed towards tension reduction. It involves a state of harmonious relationship existing between the individual and one’s environment so that adjustment is a matter of interaction between the capacities of the individual and the demands of the environment. The study also found that music induces a receptive mood that generally enhances cognitive processing and every decision that the child makes has its brunt on the behaviour. It is solely based on the case study carried out by the authors.

Keywords: social cognition, decision making, adjustment behaviour, adolescents

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Authors: Smail Tigani, Mohamed Ouzzif

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This work presents a discrete quantitative state prediction algorithm with intelligent behavior making it able to self-improve some performance aspects. The specificity of this algorithm is the capacity of self-rectification of the prediction strategy before the final decision. The auto-rectification mechanism is based on two parallel mathematical models. In one hand, the algorithm predicts the next state based on event transition matrix updated after each observation. In the other hand, the algorithm extracts its residues trend with a linear regression representing historical residues data-points in order to rectify the first decision if needs. For a normal distribution, the interactivity between the two models allows the algorithm to self-optimize its performance and then make better prediction. Designed key performance indicator, computed during a Monte Carlo simulation, shows the advantages of the proposed approach compared with traditional one.

Keywords: discrete state, Markov Chains, linear regression, auto-adaptive systems, decision making, Monte Carlo Simulation

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Authors: Marina Diković

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By giving personal opinions, suggestions and criticism through e-democracy, young people can reinforce the adoption of decisions which they have an impact on. The purpose of this research was to examine the opinion of university students about the possibility of their decision-making by using information and communication technology (ICT). The questionnaire examined young people's values and behaviour associated with e-democracy and the related decision-making. Students are most active online when it comes to finding information connected with their academic responsibilities, but less frequently take part in democratic processes in society, both at the national and local level. E-democracy as a tool can be learned in programmes of Human Rights Education and Citizenship Education. 

Keywords: active citizens, e-democracy, information and communication technology (ICT), university students

Procedia PDF Downloads 199