Search results for: evident based decision making

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: Boris Djartov, Sanaz Mostaghim

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This paper presents a number-based dominance method. The main idea is how to fragment the many attributes of the problem into subsets suitable for the well-established concept of Pareto dominance. Although other similar methods can be found in the literature, they focus on comparing the solutions one objective at a time, while the focus of this method is to compare entire subsets of the objective vector. Given the nature of the method, it is computationally costlier than other methods and thus, it is geared more towards selecting an option from a finite set of alternatives, where each solution is defined by multiple objectives. The need for this method was motivated by dynamic alternate airport selection (DAAS). In DAAS, pilots, while en route to their destination, can find themselves in a situation where they need to select a new landing airport. In such a predicament, they need to consider multiple alternatives with many different characteristics, such as wind conditions, available landing distance, the fuel needed to reach it, etc. Hence, this method is primarily aimed at human decision-makers. Many methods within the field of multi-objective and many-objective decision-making rely on the decision maker to initially provide the algorithm with preference points and weight vectors; however, this method aims to omit this very difficult step, especially when the number of objectives is so large. The proposed method will be compared to Favour (1 − k)-Dom and L-dominance (LD) methods. The test will be conducted using well-established test problems from the literature, such as the DTLZ problems. The proposed method is expected to outperform the currently available methods in the literature and hopefully provide future decision-makers and pilots with support when dealing with many-objective optimization problems.

Keywords: multi-objective decision-making, many-objective decision-making, multi-objective optimization, many-objective optimization

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Authors: Chang Liu, Rui Xing, Liyan Tang, Guohong Wang

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Entrepreneurial actions are based on entrepreneurial decisions. The quality of decisions influences entrepreneurial activities and subsequent new venture performance. Uncertainty of surroundings put heightened demands on the team as a whole, and each team member. Diverse team composition provides rich information, which a team can draw when making complex decisions. However, team heterogeneity may cause emotional conflicts, which is adverse to team outcomes. Thus, the effects of team heterogeneity on team outcomes are complex. Although team heterogeneity is an essential factor influencing entrepreneurial decision-making, there is a lack of empirical analysis on under what conditions team heterogeneity plays a positive role in promoting decision-making quality. Entrepreneurial teams always struggle with complex tasks. How a team shapes its teamwork is key in resolving constant issues. As a collective regulatory process, team reflexivity is characterized by continuous joint evaluation and discussion of team goals, strategies, and processes, and adapt them to current or anticipated circumstances. It enables diversified information to be shared and overtly discussed. Instead of hostile interpretation of opposite opinions team members take them as useful insights from different perspectives. Team reflexivity leads to better integration of expertise to avoid the interference of negative emotions and conflict. Therefore, we propose that team reflexivity is a conditional factor that influences the impact of team heterogeneity on high-quality entrepreneurial decisions. In this study, we identify team heterogeneity as a crucial determinant of entrepreneurial decision quality. Integrating the literature on decision-making and team heterogeneity, we investigate the relationship between team heterogeneity and entrepreneurial decision-making quality, treating team reflexivity as a moderator. We tested our hypotheses using the hierarchical regression method and the data gathered from 63 teams and 205 individual members from 45 new firms in China's first-tier cities such as Beijing, Shanghai, and Shenzhen. This research found that both teams' education heterogeneity and teams' functional background heterogeneity were significantly positively related to entrepreneurial decision-making quality, and the positive relation was stronger in teams with a high level of team reflexivity. While teams' specialization of education heterogeneity was negatively related to decision-making quality, and the negative relationship was weaker in teams with a high level of team reflexivity. We offer two contributions to decision-making and entrepreneurial team literatures. Firstly, our study enriches the understanding of the role of entrepreneurial team heterogeneity in entrepreneurial decision-making quality. Different from previous entrepreneurial decision-making literatures, which focus more on decision-making modes of entrepreneurs and the top management team, this study is a significant attempt to highlight that entrepreneurial team heterogeneity makes a unique contribution to generating high-quality entrepreneurial decisions. Secondly, this study introduced team reflexivity as the moderating variable, to explore the boundary conditions under which the entrepreneurial team heterogeneity play their roles.

Keywords: decision-making quality, entrepreneurial teams, education heterogeneity, functional background heterogeneity, specialization of education heterogeneity

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Authors: Mohsen Akhlaghi, Tahereh Ebrahimi

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Considering the increasing demand for water and limited resources, there is a possibility of a water crisis in the not-so-distant future. Therefore, to prevent this crisis, other options for drinking water supply should be examined. In this regard, the application of multi-criteria decision-making methods in various aspects of water resource management and planning has always been of great interest to researchers. In this report, six options for supplying drinking water to Tehran City were considered. Then, experts' opinions were collected through matrices and questionnaires, and using the TOPSIS method, which is one of the types of multi-criteria decision-making methods, they were calculated and analyzed. In the TOPSIS method, the options were ranked by calculating their proximity to the ideal (Ci). The closer the numerical value of Ci is to one, the more desirable the option is. Based on this, the option with the optimization pattern of water consumption, with Ci = 0.9787, is the best option among the proposed options for supplying drinking water to Tehran City. The other options, in order of priority, are rainwater harvesting, wastewater reuse, increasing current water supply sources, desalination and its transfer, and transferring water from freshwater sources between basins. In conclusion, the findings of this study highlight the importance of exploring alternative drinking water supply options and utilizing multi-criteria decision-making approaches to address the potential water crisis.

Keywords: multi-criteria decision, sustainable development, topsis, water supply

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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: Siripen Yiamjanya, Kevin Wongleedee

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This research paper aims to identify travel motivation by push and pull factors that affected decision making of international tourists in selecting Thailand as their destination choice. A total of 200 international tourists who traveled to Thailand during January and February, 2014 were used as the sample in this study. A questionnaire was employed as a tool in collecting the data, conducted in Bangkok. The list consisted of 30 attributes representing both psychological factors as “push- based factors” and destination factors as “pull-based factors”. Mean and standard deviation were used in order to find the top ten travel motives that were important determinants in the respondents’ decision making process to select Thailand as their destination choice. The finding revealed the top ten travel motivations influencing international tourists to select Thailand as their destination choice included [i] getting experience in foreign land; [ii] Thai food; [iii] learning new culture; [iv] relaxing in foreign land; [v] wanting to learn new things; [vi] being interested in Thai culture, and traditional markets; [vii] escaping from same daily life; [viii] enjoying activities; [ix] adventure; and [x] good weather. Classification of push- based and pull- based motives suggested that getting experience in foreign land was the most important push motive for international tourists to travel, while Thai food portrayed its highest significance as pull motive. Discussion and suggestions were also made for tourism industry of Thailand.

Keywords: decision making, destination choice, international tourist, pull factor, push factor, Thailand, travel motivation

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Authors: Bidzina Matsaberidze

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It is known that, in emergency situations, multi-attribute group decision-making (MAGDM) models are characterized by insufficient objective data and a lack of time to respond to the task. Evidence theory is an effective tool for describing such incomplete information in decision-making models when the expert and his knowledge are involved in the estimations of the MAGDM parameters. We consider an emergency decision-making model, where expert assessments on humanitarian aid from distribution centers (HADC) are represented in q-rung ortho-pair fuzzy numbers, and the data structure is described within the data body theory. Based on focal probability construction and experts’ evaluations, an objective function-distribution centers’ selection ranking index is constructed. Our approach for solving the constructed bicriteria partitioning problem consists of two phases. In the first phase, based on the covering’s matrix, we generate a matrix, the columns of which allow us to find all possible partitionings of the HADCs with the service centers. Some constraints are also taken into consideration while generating the matrix. In the second phase, based on the matrix and using our exact algorithm, we find the partitionings -allocations of the HADCs to the centers- which correspond to the Pareto-optimal solutions. For an illustration of the obtained results, a numerical example is given for the facility location-selection problem.

Keywords: emergency MAGDM, q-rung orthopair fuzzy sets, evidence theory, HADC, facility location problem, multi-objective combinatorial optimization problem, Pareto-optimal solutions

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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: Christina Zourna, Ioanna Papavassiliou-Alexiou

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The purpose of this multi-phased action research PhD study in Greece was to investigate if and how Drama in Education (DiE) – used as an innovative group counselling method – may have positive effects on secondary education students’career self-efficacy and career decision-making skills development. Using both quantitative and qualitative research tools, high quality data were gathered at various stages of the research and were analysed through multivariate methods and open-source computer aided data analysis software such as R Studio, QualCoder, and SPSS packages. After a five-month-long educational intervention based on DiE method, it was found that 9th, 10th, and 11th gradersameliorated their self-efficacy and learned the process of making an informed career decision – through targeted information gathering about themselves and possible study paths – thus, developing career problem-solving and career management skills. Gender differences were non statistically important, while differences in grades showed a minor influence on some of the measured factorssuch as general career indecisiveness and self-evaluation. Students in the 11th grade scored significantly higher than younger students in the career self-efficacy scale and have stronger faith in their abilities e.g., choosing general over vocational school and major study orientation. The study has shown that DiE can be effective in group career guidance, especially concerning the pillars of self-awareness, self-efficacy, and career decision-making processes.

Keywords: career decision-making skills, career self-efficacy, CDDQ scale, CDMSE-SF scale, drama in education method

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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: Parya Tabei, Maryam Habibifar

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

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

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Authors: Markou Vasiliki, Serdaris Panagiotis

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The consumer behavior and decision-making process of consumers is a process that is affected by the factor of uncertainty. The onslaught of the Covid 19 pandemic has changed the consumer decision-making process in many ways. This change can be seen both in the buying process (how and where they shop) but also in the types of goods and services they are looking for. In addition, due to the mainly economic uncertainty that came from this event, but also the effects on both society and the economy in general, new consumer behaviors were created. Traditional forms of shopping are no longer a primary choice, consumers have turned to digital channels such as e-commerce and social media to fulfill needs. The purpose of this particular article is to examine how much the consumer's decision-making process has been affected after the pandemic and if consumer behavior has changed. An online survey was conducted to examine the change in decision making. Essentially, the demographic factors that influence the decision-making process were examined, as well as the social and economic factors. The research is divided into two parts. The first part included a literature review of the research that has been carried out to identify the factors, and the second part where the empirical investigation was carried out using a questionnaire and was done electronically with the help of Google Forms. The questionnaire was divided into several sections. They included questions about consumer behavior, but mainly about how they make decisions today, whether those decisions have changed due to the pandemic, and whether those changes are permanent. Also, for decision-making, goods were divided into essential products, high-tech products, transactions with the state and others. Αbout 500 consumers aged between 18 and 75 participated in the research. The data was processed with both descriptive statistics and econometric models. The results showed that the consumer behavior and decision-making process has changed. Now consumers widely use the internet for shopping, consumer behaviors and consumer patterns have changed. Social and economic factors play an important role. Income, gender and other factors were found to be statistically significant. In addition, it is worth noting that the percentage who made purchases during the pandemic through the internet for the first time was remarkable and related to age. Essentially, the arrival of the pandemic caused uncertainty for individuals, mainly financial, and this affected the decision-making process. In addition, shopping through the internet is now the first choice, especially among young people, and it seems that it is about to become established.

Keywords: consumer behavior, decision making, COVID-19, Greece, behavior change

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Authors: Joshua Midha

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This paper provides an evaluation of an intervention designed to promote a risk-realistic environment for women in the workplace and regulate their risk-related decision-making. In past research, women -specifically women of color- are highly risk-averse, and this may prove to be an innate obstacle in gender progress in corporations. By helping women see the risks and the benefits and increasing potential benefits, we can increase the chances of success in the workplace. Our intervention was a success and significantly increased comfort, trust, and frequency in the use of decision-making skills in the workplace. In this paper, we explore the intervention, the methods, the results, and the implications.

Keywords: behavioral economics, decision support, risk, gender equality

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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

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Authors: Malay Niraj, Praveen Kumar

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The present study is a new approach for improving equipment life and Overall Equipment Efficiency (O.E.E.) through suitable maintenance practice with the help of value engineering. Value engineering is a one of the most powerful decision-making techniques which depend on many factors. The improvements are the result of recommendations made by multidisciplinary teams representing all parties involved. VE is a rigorous, systematic effort to improve the OEE and optimize the life cycle cost of a facility. The study describes problems in maintenance arising due to the absence of having clear criteria and strong decision constrain how to maintain failing equipment. Using factor comparisons, the study has been made between different maintenance practices and finally best maintenance practice based on value engineering technique has been selected.

Keywords: maintenance strategy, overall equipment efficiency, value engineering, decision-making

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Authors: Adel Sabry Eesa, Adnan Mohsin Abdulazeez Brifcani, Zeynep Orman

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Feature selection has been used in many fields such as classification, data mining and object recognition and proven to be effective for removing irrelevant and redundant features from the original data set. In this paper, a new design of distributed intrusion detection system using a combination feature selection model based on bees and decision tree. Bees algorithm is used as the search strategy to find the optimal subset of features, whereas decision tree is used as a judgment for the selected features. Both the produced features and the generated rules are used by Decision Making Mobile Agent to decide whether there is an attack or not in the networks. Decision Making Mobile Agent will migrate through the networks, moving from node to another, if it found that there is an attack on one of the nodes, it then alerts the user through User Interface Agent or takes some action through Action Mobile Agent. The KDD Cup 99 data set is used to test the effectiveness of the proposed system. The results show that even if only four features are used, the proposed system gives a better performance when it is compared with the obtained results using all 41 features.

Keywords: distributed intrusion detection system, mobile agent, feature selection, bees algorithm, decision tree

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Authors: Mehdi Asgarkhani

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Today, investment on Information Technology (IT) solutions in most organizations is the largest component of capital expenditure. As capital investment on IT continues to grow, IT managers and strategists are expected to develop and put in practice effective decision making models (frameworks) that improve decision-making processes for the use of IT in organizations and optimize the investment on IT solutions. To be exact, there is an expectation that organizations not only maximize the benefits of adopting IT solutions but also avoid the many pitfalls that are associated with rapid introduction of technological change. Different organizations depending on size, complexity of solutions required and processes used for financial management and budgeting may use different techniques for managing strategic investment on IT solutions. Decision making processes for strategic use of IT within organizations are often referred to as IT Governance (or Corporate IT Governance). This paper examines IT governance - as a tool for best practice in decision making about IT strategies. Discussions in this paper represent phase I of a project which was initiated to investigate trends in strategic decision making on IT strategies. Phase I is concerned mainly with review of literature and a number of case studies, establishing that the practice of IT governance, depending on the complexity of IT solutions, organization's size and organization's stage of maturity, varies significantly – from informal approaches to sophisticated formal frameworks.

Keywords: IT governance, corporate governance, IT governance frameworks, IT governance components, aligning IT with business strategies

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Authors: Symbat Moldabekova

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This research explores the practice of decision-making in commercial banks in Kazakhstan. It focuses on recent technologies, such as contactless payments and QR code, and uses interviews with bank executives and industry practitioners to gain an understanding of how decisions are made and the role of financial assessment methods. The aim of the research is (1) to study the importance of financial techniques to evaluate IT investments; (2) to understand the role of different expert groups; (3) to explore how market trends and industry features affect decisions on IT; (4) to build a model that defines the real practice of decision-making on IT in commercial banks in Kazakhstan. The theoretical framework suggests that decision-making on IT is a socially constructed process, where actor groups with different background interact and negotiate with each other to develop a shared understanding of IT and to make more effective decisions. Theory and observations suggest that the more parties involved in the process of decision-making, the higher the possibility of disagreements between them. As each actor group has their views on the rational decision on an IT project, it is worth exploring how the final decision is made in practice. Initial findings show that the financial assessment methods are used as a guideline and do not play a big role in the final decision. The commercial banks of Kazakhstan tend to study experience of neighboring countries before adopting innovation. Implementing contactless payments is widely regarded as pinnacle success factor due to increasing competition in the market. First-to-market innovations are considered as priorities therefore, such decisions can be made with exemption of some certain actor groups from the process. Customers play significant role and they participate in testing demo versions of the products before bringing innovation to the market. The study will identify the viewpoints of actors in the banking sector on a rational decision, and the ways decision-makers from a variety of disciplines interact with each other in order to make a decision on IT in retail banks.

Keywords: actor groups, decision making, technology investment, retail banks

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Authors: Yaojun Wang, Yaoqing Wang

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Stock selection is an important decision-making problem. Many machine learning and data mining technologies are employed to build automatic stock-selection system. A profitable stock-selection system should consider the stock’s investment value and the market timing. In this paper, we present a hybrid system including both engage for stock selection. This system uses a case-based reasoning (CBR) model to execute the stock classification, uses a decision-tree model to help with market timing and stock selection. The experiments show that the performance of this hybrid system is better than that of other techniques regarding to the classification accuracy, the average return and the Sharpe ratio.

Keywords: case-based reasoning, decision tree, stock selection, machine learning

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Authors: Buket Metin

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Buildings cause a variety of loads on the environment due to activities performed at each stage of the building life cycle. Construction is the first stage that affects both the natural and built environments at different steps of the process, which can be defined as transportation of materials within the construction site, formation and preparation of materials on-site and the application of materials to realize the building subsystems. All of these steps require the use of technology, which varies based on the facilities that contractors and subcontractors have. Hence, environmental consequences of the construction process should be tackled by focusing on construction technology options used in every step of the process. This paper presents an environmental decision-making model for assessing on-site performances of subcontractors based on the construction technology options which they can supply. First, construction technologies, which constitute information, tools and methods, are classified. Then, environmental performance criteria are set forth related to resource consumption, ecosystem quality, and human health issues. Finally, the model is developed based on the relationships between the construction technology components and the environmental performance criteria. The Fuzzy Analytical Hierarchy Process (FAHP) method is used for weighting the environmental performance criteria according to environmental priorities of decision-maker(s), while the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) method is used for ranking on-site environmental performances of subcontractors using quantitative data related to the construction technology components. Thus, the model aims to provide an insight to decision-maker(s) about the environmental consequences of the construction process and to provide an opportunity to improve the overall environmental performance of construction sites.

Keywords: construction process, construction technology, decision making, environmental performance, subcontractor

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Authors: Jan Franciszek Jacko

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This investigation presents the principle of methodological rationality of decision making and discusses the impact of an organisation's members' methodologically rational or irrational decisions on its security. This study formulates and partially justifies some research hypotheses regarding the impact. The thinking experiment is used according to Max Weber's ideal types method. Two idealised situations("models") are compared: Model A, whereall decision-makers follow methodologically rational decision-making procedures. Model B, in which these agents follow methodologically irrational decision-making practices. Analysing and comparing the two models will allow the formulation of some research hypotheses regarding the impact of methodologically rational and irrational attitudes of members of an organisation on its security. In addition to the method, phenomenological analyses of rationality and irrationality are applied.

Keywords: methodological rationality, rational decisions, security of organisations, philosophy of economics

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Authors: Haikal Achmad Thaha, Pujo Laksono, Dhamma Nibbana Putra

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Customer service is one of the core interest in a service sector of a company, whether as the core business or as service part of the operation. Most of the time, the people and the previous research in service industry is focused on finding the best business model solution for the service sector, usually to decide between total in house customer service, outsourcing, or something in between. Conventionally, to take this decision is some important part of the management job, and this is a process that usually takes some time and staff effort, meanwhile market condition and overall company needs may change and cause loss of income and temporary disturbance in the companies operation . However, in this paper we have offer a new concept model to assist decision making process in service industry. This model will featured information platform as central tool to integrate service industry operation. The result is service information model which would ideally increase response time and effectivity of the decision making. it will also help service industry in switching the service solution system quickly through machine learning when the companies growth and the service solution needed are changing.

Keywords: service industry, customer service, machine learning, decision making, information platform

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Authors: Eric Ohene, Albert P. C. Chan, Shu-Chien HSU

Abstract:

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

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Authors: Giuseppe Timperio, Robert de Souza

Abstract:

Logistics operations in the context of disaster response are characterized by a high degree of complexity due to the combined effect of a large number of stakeholders involved, time pressure, uncertainties at various levels, massive deployment of goods and personnel, and gigantic financial flow to be managed. It also involves several autonomous parties such as government agencies, militaries, NGOs, UN agencies, private sector to name few, to have a highly collaborative approach especially in the critical phase of the immediate response. This is particularly true in the context of L3 emergencies that are the most severe, large-scale humanitarian crises. Decision-making processes in disaster management are thus extremely difficult due to the presence of multiple decision-makers involved, and the complexity of the tasks being tackled. Hence, in this paper, we look at applying ICT based solutions to enable a speedy and effective decision making in the golden window of humanitarian operations. A high-level view of ICT based solutions in the context of logistics operations for humanitarian response in Southeast Asia is presented, and their viability in a real-life case about logistics network design is explored.

Keywords: decision support, disaster preparedness, humanitarian logistics, network design

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Authors: Pongsawee Supanonth

Abstract:

This study aims to investigate the consumer behavior and marketing mixed factor affect on consumer decision making for independent movies presented in Lido cinema. The research method will use quantitative research, data was collected by questionnaires distributed to the audience in the Lido cinema for 400 sample by accidental sampling technique. Data was analyzed by descriptive statistic including percentage, mean, standard deviation and inferential statistic including independent t-test for hypothesis testing. The results showed that marketing mixed factors affecting consumer decision-making for Independent movies presented in Lido cinema by gender as different as less than the 0.05 significance level, it was found that the kind of movie ,quality of theater ,price of ticket, facility of watching movies, staff services and promotion of Lido cinema respectively had a vital influence on their attention and response which makes the advertisement more attractive is in harmony with the research hypotheses also.

Keywords: consumer behavior, marketing mixed factor, resonance, consumer decision making, Lido cinema

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Authors: Kamran Yazdanbakhsh, Somayeh Mahmoudi

Abstract:

Three reasons make good use of the decision theory in medicine: 1. Increased medical knowledge and their complexity makes it difficult treatment information effectively without resorting to sophisticated analytical methods, especially when it comes to detecting errors and identify opportunities for treatment from databases of large size. 2. There is a wide geographic variability of medical practice. In a context where medical costs are, at least in part, by the patient, these changes raise doubts about the relevance of the choices made by physicians. These differences are generally attributed to differences in estimates of probabilities of success of treatment involved, and differing assessments of the results on success or failure. Without explicit criteria for decision, it is difficult to identify precisely the sources of these variations in treatment. 3. Beyond the principle of informed consent, patients need to be involved in decision-making. For this, the decision process should be explained and broken down. A decision problem is to select the best option among a set of choices. The problem is what is meant by "best option ", or know what criteria guide the choice. The purpose of decision theory is to answer this question. The systematic use of decision models allows us to better understand the differences in medical practices, and facilitates the search for consensus. About this, there are three types of situations: situations certain, risky situations, and uncertain situations: 1. In certain situations, the consequence of each decision are certain. 2. In risky situations, every decision can have several consequences, the probability of each of these consequences is known. 3. In uncertain situations, each decision can have several consequences, the probability is not known. Our aim in this article is to show how decision theory can usefully be mobilized to meet the needs of physicians. The decision theory can make decisions more transparent: first, by clarifying the data systematically considered the problem and secondly by asking a few basic principles should guide the choice. Once the problem and clarified the decision theory provides operational tools to represent the available information and determine patient preferences, and thus assist the patient and doctor in their choices.

Keywords: decision making, medicine, treatment strategies, patient

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Authors: Kirsi Snellman, Johannes Gartner, , Katja Upadaya

Abstract:

A transition towards a future where the economy serves society so that it evolves within the safe operating space of the planet calls for fundamental changes in the way managers think, feel and act, and make decisions that relate to social and environmental issues. Sustainable decision-making in organizations are often challenging tasks characterized by trade-offs between environmental, social and financial aspects, thus often bringing forth ethical concerns. Although there have been significant developments in incorporating uncertainty into environmental decision-making and measuring constructs and dimensions in ethical behavior in organizations, the majority of sustainable decision-making models are rationalist-based. Moreover, research in psychology indicates that one’s readiness to make a decision depends on the individual’s state of mind, the feasibility of the implied change, and the compatibility of strategies and tactics of implementation. Although very informative, most of this extant research is limited in the sense that it often directs attention towards the rational instead of the emotional. Hence, little is known about the role of emotions in sustainable decision making, especially in situations where decision-makers evaluate a variety of options and use their feelings as a source of information in tackling the uncertainty. To fill this lacuna, and to embrace the uncertainty and perceived risk involved in decisions that touch upon social and environmental aspects, it is important to add emotion to the evaluation when aiming to reach the one right and good ethical decision outcome. This analysis builds on recent findings in moral psychology that associate feelings and intuitions with ethical decisions and suggests that emotions can sensitize the manager to evaluate the rightness or wrongness of alternatives if ethical concerns are present in sustainable decision making. Capturing such sensitive evaluation as triggered by intuitions, we suggest that rational justification can be complemented by using emotions as a tool to tune in to what feels right in making sustainable decisions. This analysis integrates ethical decision-making theories with recent advancements in emotion theories. It determines the conditions under which emotions play a role in sustainability decisions by contributing to a personal equilibrium in which intuition and rationality are both activated and in accord. It complements the rationalist ethics view according to which nothing fogs the mind in decision making so thoroughly as emotion, and the concept of cheater’s high that links unethical behavior with positive affect. This analysis contributes to theory with a novel theoretical model that specifies when and why managers, who are more emotional, are, in fact, more likely to make ethical decisions than those managers who are more rational. It also proposes practical advice on how emotions can convert the manager’s preferences into choices that benefit both common good and one’s own good throughout the transition towards a more sustainable future.

Keywords: emotion, ethical decision making, intuition, sustainability

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Authors: S. da Costa, D. Páez, E. Martínez, A. Torres, M. Beramendi, D. Hermosilla, M. Muratori

Abstract:

This study examined the association between creative performance, organizational climate and leadership, affectivity, shared flow, and group decision making. The sample consisted of 315 cadets of a military academic unit of South America. Satisfaction with the decision-making process during a creative task was associated with the usefulness and effectiveness of the ideas generated by the teams with a weighted average correlation of r = .18. Organizational emotional climate, positive and innovation leadership were associated with this group decision-making process r = .25, with shared flow, r = .29 and with positive affect felt during the performance of the creative task, r = .12. In a sequential mediational analysis positive organizational leadership styles were significantly associated with decision-making process and trough cohesion with utility and efficacy of the solution of a creative task. Satisfactory decision-making was related to shared flow during the creative task at collective or group level, and positive affect with flow at individual level.This study examined the association between creative performance, organizational climate and leadership, affectivity, shared flow, and group decision making. The sample consisted of 315 cadets of a military academic unit of South America. Satisfaction with the decision-making process during a creative task was associated with the usefulness and effectiveness of the ideas generated by the teams with a weighted average correlation of r = .18. Organizational emotional climate, positive and innovation leadership were associated with this group decision-making process r = .25, with shared flow, r = .29 and with positive affect felt during the performance of the creative task, r = .12. In a sequential mediational analysis positive organizational leadership styles were significantly associated with decision-making process and trough cohesion with utility and efficacy of the solution of a creative task. Satisfactory decision-making was related to shared flow during the creative task at collective or group level, and positive affect with flow at individual level.

Keywords: creativity, innovation, military, organization, teams

Procedia PDF Downloads 118