Search results for: share decision making

Authors: Oscar Vega Camacho, Andrea Vargas, Ellery Ariza

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This paper presents the application of finite dynamic programming, specifically the "Markov Chain" model, as part of the decision making process of a company in the cosmetics sector located in the vicinity of Bogota DC. The objective of this process was to decide whether the company should completely reconstruct its waste water treatment plant or instead optimize the plant through the addition of equipment. The goal of both of these options was to make the required improvements in order to comply with parameters established by national legislation regarding the treatment of waste before it is released into the environment. This technique will allow the company to select the best option and implement a solution for the processing of waste to minimize environmental damage and the acquisition and implementation costs.

Keywords: decision making, markov chain, optimization, waste water

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Authors: Jhansi Rani Boda, G. Sunitha

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Worldwide, the financial markets are influenced by several factors such as the changes in economic and political processes that occur in the country and the globe, information diffusion and approachability and so on. Yet, the foremost important factor is the investor’s reaction and perception. For an individual investor, decision-making process can be perceived as a continuous process that has significant impact of their psychology while making investment decisions. Behavioral finance relies on research of human and social recognition and emotional tolerance studies to identify and understand the investment decisions. This article aims to report the research of individual investor’s financial behavior in a historical perspective. This article uncovers the investor’s psychology in investment decision making focusing on the investor’s rationality with an explanation of psychological and emotional factors that affect investing. The results of the study are revealed by means of Graphical visualization.

Keywords: behavioral finance, psychology, investor’s behavior, psychological and emotional factors

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Authors: Mohsin Aslam Khan

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Decision making tendency varies in people with different socio demographics. This study was conducted to identify the impact of work experience on decisional conflict and whether there is a gender differences in decisional conflict. Convenience sampling was more appropriate for this exploratory research. AM O’ Connor decisional conflict scale, (1995) with cronbach alpha 0.900 was administered on sample size of 109 participants (62males, 47females). The responses were scored according to the AM O’ Connor decisional conflict scale manual, (1995). The results of the study indicate that work experience has no significant impact on decisional conflict, whereas gender differences in decisional conflict illustrates significant mean score differences among male and female participants.

Keywords: decision making, decisional conflict, gender decision making, work experience

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Authors: Abdelkader Mendas

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The integration of MultiCriteria Decision Making (MCDM) approaches in a Geographical Information System (GIS) provides a powerful spatial decision support system which offers the opportunity to efficiently produce the land suitability maps for agriculture. Indeed, GIS is a powerful tool for analyzing spatial data and establishing a process for decision support. Because of their spatial aggregation functions, MCDM methods can facilitate decision making in situations where several solutions are available, various criteria have to be taken into account and decision-makers are in conflict. The parameters and the classification system used in this work are inspired from the FAO (Food and Agriculture Organization) approach dedicated to a sustainable agriculture. A spatial decision support system has been developed for establishing the land suitability map for agriculture. It incorporates the multicriteria analysis method ELECTRE Tri (ELimitation Et Choix Traduisant la REalité) in a GIS within the GIS program package environment. The main purpose of this research is to propose a conceptual and methodological framework for the combination of GIS and multicriteria methods in a single coherent system that takes into account the whole process from the acquisition of spatially referenced data to decision-making. In this context, a spatial decision support system for developing land suitability maps for agriculture has been developed. The algorithm of ELECTRE Tri is incorporated into a GIS environment and added to the other analysis functions of GIS. This approach has been tested on an area in Algeria. A land suitability map for durum wheat has been produced. Through the obtained results, it appears that ELECTRE Tri method, integrated into a GIS, is better suited to the problem of land suitability for agriculture. The coherence of the obtained maps confirms the system effectiveness.

Keywords: multicriteria decision analysis, decision support system, geographical information system, land suitability for agriculture

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Authors: Babak Nematshahrbabaki, Fallahi Arezoo

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Objective: The aim of this study was to describe teenagers’ decisions to undergo orthodontic treatment through a qualitative study. Materials and methods: Twenty-three patients (12 girls), aged 12–18 years, at a dental clinic in Sanandaj the western part of Iran participated. Face-to-face and semi-structured interviews and two focus group discussions were held to gather data. Data analyzed by the grounded theory method. Results: ‘Decision-making’ was the core category. During the data analysis four main themes were developed: ‘being like everyone else’, ‘being diagnosed’, ‘maintaining the mouth’ and ‘cultural-social and environmental factors’. Conclusions: cultural- social and environmental factors have crucial role in decision-making to undergo orthodontic treatment. The teenagers were not fully conscious of these external influences. They thought their decision to undergo orthodontic treatment is independent while it is related to cultural- social and environmental factors.

Keywords: decision-making, qualitative study, teenager, orthodontic treatment

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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: Oscar Vega Camacho, Andrea Vargas Guevara, Ellery Rowina Ariza

Abstract:

This paper presents the application of finite dynamic programming, specifically the "Markov Chain" model, as part of the decision making process of a company in the cosmetics sector located in the vicinity of Bogota DC. The objective of this process was to decide whether the company should completely reconstruct its wastewater treatment plant or instead optimize the plant through the addition of equipment. The goal of both of these options was to make the required improvements in order to comply with parameters established by national legislation regarding the treatment of waste before it is released into the environment. This technique will allow the company to select the best option and implement a solution for the processing of waste to minimize environmental damage and the acquisition and implementation costs.

Keywords: decision making, Markov chain, optimization, wastewater

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Authors: O. Starineca, I. Voronchuk

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Human Resources (HR) selection and training have various implementation possibilities depending on an organization’s abilities and peculiarities. We propose to base HR selection and training decisions about on a competence-based approach. HR selection and training of employees are topical as there is room for improvement in this field; therefore, the aim of the research is to propose rational decision-making approaches for an organization HR selection and training choice. Our proposals are based on the training development and competence-based selection approaches created within previous researches i.e. Analytic-Hierarchy Process (AHP) and Linear Programming. Literature review on non-formal education, competence-based selection, AHP form our theoretical background. Some educational service providers in Latvia offer employees training, e.g. motivation, computer skills, accounting, law, ethics, stress management, etc. that are topical for Public Administration. Competence-based approach is a rational base for rational decision-making in both HR selection and considering HR training.

Keywords: competence-based selection, human resource, training, decision-making

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Authors: Woosik Jang, Seung H. Han, Seung Won Baek, Chan Young Park

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Natural gas (NG) is a local energy resource that exists in certain countries, and most NG producers operate within unstable governments. Moreover, about 90% of the liquefied natural gas (LNG) market is governed by a small number of international oil companies (IOCs) and national oil companies (NOCs), market entry of second movers is extremely limited. To overcome these barriers, project viability should be assessed based on limited information at the project screening perspective. However, there have been difficulties at the early stages of projects as follows: (1) What factors should be considered? (2) How many experts are needed to make a decision? and (3) How to make an optimal decision with limited information? To answer these questions, this research suggests a LNG project viability assessment model based on the Dempster-Shafer theory (DST). Total of 11 indices for the gas field analysis and 23 indices for the market environment analysis are identified that reflect unique characteristics of LNG industry. Moreover, the proposed model evaluates LNG projects based on questionnaire survey and it provides not only quantified results but also uncertainty level of results based on DST. Consequently, the proposed model as a systematic framework can support the decision-making process from the gas field projects using quantitative results, and it is developed to a stand-alone system to enhance the practical usability. It is expected to improve the decision-making quality and opportunity in LNG projects for enterprise through informed decision.

Keywords: project viability, LNG project, enterprise information system, Dempster-Shafer Theory, strategic decision-making

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Authors: Waraporn Wimuktalop

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This research will select regions which are vulnerable to flooding in different level. Mathematical principles will be systematically and rationally utilized as a tool to solve problems of selection the regions. Therefore the method called Multiple Criteria Decision Making (MCDM) has been chosen by having two analysis standards, TOPSIS (Technique for Order Preference by Similarity to Ideal Solution) and AHP (Analytic Hierarchy Process). There are three criterions that have been considered in this research. The first criterion is climate which is the rainfall. The second criterion is geography which is the height above mean sea level. The last criterion is the land utilization which both forest and agriculture use. The study found that the South has the highest risk of flooding, then the East, the Centre, the North-East, the West and the North, respectively.

Keywords: multiple criteria decision making, TOPSIS, analytic hierarchy process, flooding

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Authors: Seyed Hossein Iranmanesh, Hassan Nouri, Seyed Reza Iranmanesh

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In the dynamic and complex landscape of today’s business, organizations often face challenges in impactful decision-making across multi-project settings. To efficiently allocate resources, coordinate tasks, and optimize project outcomes, establishing robust decision-making processes is essential. Furthermore, the increasing importance of information systems and their integration within organizational workflows introduces an additional layer of complexity. This research proposes the use of blockchain technology as a suitable solution to enhance decision-making in multi-project environments, particularly within the realm of information systems. The conceptual framework in this study comprises four independent variables and one dependent variable. The identified independent variables for the targeted research include: Blockchain Layer in Integrated Systems, Quality of Generated Information ,User Satisfaction with Integrated Systems and Utilization of Integrated Systems. The project’s performance, considered as the dependent variable and moderated by organizational policies and procedures, reflects the impact of blockchain technology adoption on organizational effectiveness1. The results highlight the significant influence of blockchain implementation on organizational performance.

Keywords: multi-project environments, decision support systems, information systems, blockchain technology, decentralized systems.

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Authors: Kuanrong Qiu, Sebnem Madrali, Evgueniy Entchev

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To achieve the satisfactory objectives in deploying integrated renewable energy systems, it is crucial to consider all the related parameters affecting the design and decision-making. The multi-criteria evaluation method is a reliable and efficient tool for achieving the most appropriate solution. The approach considers the influential factors and their relative importance in prioritizing the alternatives. In this paper, a multi-criteria decision framework, based on the criteria including technical, economic, environmental and reliability, is developed to evaluate and prioritize renewable energy technologies and configurations of their integrated systems for community applications, identify their viability, and thus support the adoption of the clean energy technologies and the decision-making regarding energy transitions and transition patterns. Case studies for communities in Canada show that resource availability and the configurations of the integrated systems significantly impact the economic performance and environmental performance.

Keywords: multi-criteria, renewables, integrated energy systems, decision-making, model

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Authors: Rebecca Greenberg, Nipa Chauhan, Rashad Rehman

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Paternalism, in its traditional form, seems largely incompatible with Western medicine. In contrast, Family-Centred Care, a partial response to historically authoritative paternalism, carries its own challenges, particularly when operationalized as family-directed care. Specifically, in neonatology, decision-making is left entirely to Substitute Decision Makers (most commonly parents). Most models of shared decision-making employ both the parents’ and medical team’s perspectives but do not recognize the inherent asymmetry of information and experience – asking parents to act like physicians to evaluate technical data and encourage physicians to refrain from strong medical opinions and proposals. They also do not fully appreciate the difficulties in adjudicating which perspective to prioritize and, moreover, how to mitigate disagreement. Introducing a mild form of paternalism can harness the unique skillset both parents and clinicians bring to shared decision-making and ultimately work towards decision-making in the best interest of the child. The notion expressed here is that within the model of shared decision-making, mild paternalism is prioritized inasmuch as optimal care is prioritized. This mild form of paternalism is known as Beneficent Paternalism and justifies our encouragement for physicians to root down in their own medical expertise to propose treatment plans informed by medical expertise, standards of care, and the parents’ values. This does not mean that we forget that paternalism was historically justified on ‘beneficent’ grounds; however, our recommendation is that a re-integration of mild paternalism is appropriate within our current Western healthcare climate. Through illustrative examples from the NICU, this paper explores the appropriateness and merits of Beneficent Paternalism and ultimately its use in promoting family-centered care, patient’s best interests and reducing moral distress. A distinctive feature of the NICU is the fact that communication regarding a patient’s treatment is exclusively done with substitute decision-makers and not the patient, i.e., the neonate themselves. This leaves the burden of responsibility entirely on substitute decision-makers and the clinical team; the patient in the NICU does not have any prior wishes, values, or beliefs that can guide decision-making on their behalf. Therefore, the wishes, values, and beliefs of the parent become the map upon which clinical proposals are made, giving extra weight to the family’s decision-making responsibility. This leads to why Family Directed Care is common in the NICU, where shared decision-making is mandatory. However, the zone of parental discretion is not as all-encompassing as it is currently considered; there are appropriate times when the clinical team should strongly root down in medical expertise and perhaps take the lead in guiding family decision-making: this is just what it means to adopt Beneficent Paternalism.

Keywords: care, ethics, expertise, NICU, paternalism

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Authors: Tomáš Vyčítal

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In a simulation model of a railway system it is important, besides other crucial algorithms, to have correct behaviour of train overtaking in stochastic conditions. This problem is being addressed in many simulation tools focused on railway traffic, however these are not very human-realistic. The goal of this paper is to create a more human-realistic overtaking decision support system for the use in railway traffic simulations. A fuzzy system has been chosen for this task as fuzzy systems are well-suited for human-like decision making. The fuzzy system designed takes into account timetables, train positions, delays and buffer times as inputs and provides an instruction to overtake or not overtake.

Keywords: decision-making support, fuzzy systems, simulation, railway, transport

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Authors: Mohammad Abdullah-Al-Wadud

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In the current era of automation and artificial intelligence, different systems have been increasingly keeping on depending on decision-making capabilities of machines. Such systems/applications may range from simple classifiers to sophisticated surveillance systems based on traditional sensors and related equipment which are becoming more common in the internet of things (IoT) paradigm. However, the available data for such problems are usually imprecise and incomplete, which leads to uncertainty in decisions made based on traditional probability-based classifiers. This requires a robust fusion framework to combine the available information sources with some degree of certainty. The theory of evidence can provide with such a method for combining evidence from different (may be unreliable) sources/observers. This talk will address the employment of the Dempster-Shafer Theory of evidence in some practical applications.

Keywords: decision making, dempster-shafer theory, evidence fusion, incomplete data, uncertainty

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Authors: Weiming Hu, Xu Li, Xiaonan Li, Zhong Xu, Li Yuan, Xuan Dong

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Maneuver decision-making plays a critical role in high-performance intelligent driving. This paper proposes a risk assessment-based decision-making network (RADMN) to address the problem of driving strategy for the commercial vehicle. RADMN integrates two networks, aiming at identifying the risk degree of collision and rollover and providing decisions to ensure the effectiveness and reliability of driving strategy. In the risk assessment module, risk degrees of the backward collision, forward collision and rollover are quantified for hazard recognition. In the decision module, a deep reinforcement learning based on multi-objective optimization (DRL-MOO) algorithm is designed, which comprehensively considers the risk degree and motion states of each traffic participant. To evaluate the performance of the proposed framework, Prescan/Simulink joint simulation was conducted in highway scenarios. Experimental results validate the effectiveness and reliability of the proposed RADMN. The output driving strategy can guarantee the safety and provide key technical support for the realization of autonomous driving of commercial vehicles.

Keywords: decision-making strategy, risk assessment, multi-objective optimization, commercial vehicle

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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: Chen T. Chen, Hui L. Cheng

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Due to the different knowledge, experience and expertise of experts, they usually provide the different opinions in the group decision-making process. Therefore, it is an important issue to reach the group consensus of opinions of experts in group multiple-criteria decision-making (GMCDM) process. Because the subjective opinions of experts always are fuzziness and uncertainties, it is difficult to use crisp values to describe the real opinions of experts or decision-makers. It is reasonable for experts to use the linguistic variables to express their opinions. The hesitant fuzzy set are extended from the concept of fuzzy sets. Experts use the hesitant fuzzy sets can be flexible to describe their subjective opinions. In order to aggregate the hesitant fuzzy linguistic variables of all experts effectively, an adjustment method based on distance function will be presented in this paper. Based on the opinions adjustment method, this paper will present an effective approach to adjust the hesitant fuzzy linguistic variables of all experts to reach the group consensus. Then, a new hesitant linguistic GMCDM method will be presented based on the group consensus of hesitant fuzzy linguistic variables. Finally, an example will be implemented to illustrate the computational process to enhance the practical value of the proposed model.

Keywords: group multi-criteria decision-making, linguistic variables, hesitant fuzzy linguistic variables, distance function, group consensus

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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: Saad Saeed Althiabi

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There is great progress in formulating and executing legislative policies in GCC, however, the public participation in formulating and in major decision making still remains weak. Drawing attention on the international law of public participation in construction and natural resource management, this paper aims in creating a feasible legislative framework for extensive public participation in the industries such as construction and oil and gas decision-making that GCC can implement. This paper would address the conflicts associated with the management and creation of legislation and ensuring public participation for the creation of a practical framework. A feasible legislative framework must take into account the various factors that shape the effectiveness of participation and the elements that promote the objectives of participation. It is premised on the ground that viewing to international prescriptions might help to reveal gaps in domestic laws, as well as alternatives to overcome them.

Keywords: legislative policies, public participation, planning legislation, GCC countries, international law

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Authors: Radomir Perzina, Jaroslav Ramik

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The Analytic Hierarchy Process is frequently used approach for solving decision making problems. There exists wide range of software programs utilizing that approach. Their main disadvantage is that they are relatively expensive and missing intermediate calculations. This work introduces a Microsoft Excel add-in called DAME – Decision Analysis Module for Excel. Comparing to other computer programs DAME is free, can work with scenarios or multiple decision makers and displays intermediate calculations. Users can structure their decision models into three levels – scenarios/users, criteria and variants. Items on all levels can be evaluated either by weights or pair-wise comparisons. There are provided three different methods for the evaluation of the weights of criteria, the variants as well as the scenarios – Saaty’s Method, Geometric Mean Method and Fuller’s Triangle Method. Multiplicative and additive syntheses are supported. The proposed software package is demonstrated on couple of illustrating examples of real life decision problems.

Keywords: analytic hierarchy process, multi-criteria decision making, pair-wise comparisons, Microsoft Excel, scenarios

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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: Mikel Alonso López, María Francisca Blasco López, Víctor Molero Ayala

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The present study explains the somatic marker theory of Antonio Damasio, which indicates that when making a decision, the stored or possible future scenarios (future memory) images allow people to feel for a moment what would happen when they make a choice, and how this is emotionally marked. This process can be conscious or unconscious. The development of new Neuromarketing techniques such as functional magnetic resonance imaging (fMRI), carries a greater understanding of how the brain functions and consumer behavior. In the results observed in different studies using fMRI, the evidence suggests that the somatic marker and future memories influence the decision-making process, adding a positive or negative emotional component to the options. This would mean that all decisions would involve a present emotional component, with a rational cost-benefit analysis that can be performed later.

Keywords: emotions, decision making, somatic marker, consumer´s brain

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Authors: Laura V. Gonzalez, Juan B. Duarte, Luis A. Palacio

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Decision making can be conditioned by factors such as the environments, circumstances, behavioral biases, emotions, beliefs and preferences of the participants. The objective of this paper is to analyze the effect ‘amount of information’ and ‘number of options’, on the behavior of competitors under a bilateral negotiation context. For the above, it has been designed an experiment as a classroom game where they negotiate goods, under the condition that none of the players knows exactly the real value of the asset. The game is designed under the concept of zero-sum (non-cooperative game) and focuses on the fact that agents must anticipate the strategies of their opponent to improve their chances of winning in the negotiation. The empirical results show that, contrary to the traditional view of expected utility theory, players prefer to obtain low profits and losses, when faced with a higher expectation of losses, using sub-optimal strategies not in accordance with game theory.

Keywords: bilateral negotiation, classroom game, decision making, game theory

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Authors: Yih-Jer Wu, Ling-Lang Huang

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Shared decision-making (SDM) is a critical aspect of determining optimal medical strategies. However, current patient decision aids (PDAs) often prioritize evidence-based discussions over value-based considerations. Despite its significance, there is limited research addressing the 'value gap' between patients and healthcare providers. To address this gap, we developed the 'Patient-Doctor Relationship Questionnaire,' consisting of 12 questions. To explore potential variations in the patient-doctor value gap across different medical specialties, we conducted interviews with physicians, surgeons, and their respective patients, utilizing the questionnaire. Between 2020 and 2022, we interviewed a total of 144 patients and 19 doctors. Among the 12 questions, physicians demonstrated significant patient-doctor value gaps in 5 questions, while surgeons in 3 questions. Only one question turned out significant gaps in both physicians and surgeons. When asking both doctors and their patients to choose one from the following 6 answers (1. No issue significant; 2. Not knowing how to make a medical decision; 3. Not confident in the doctor’s clinical judgment; 4. Not knowing how to articulate one’s own condition; 5. Unable to afford medical expenses; 6. Not understanding what doctors explain) in response to the question “what the most significant issue is in the medical consultation”, over 50% of doctors chose “Not knowing how to make a medical decision” (physicians vs. patients, 50% vs. 11%, p=0.046; surgeon vs. patients, 83% vs. 29%, p=0.001), while significantly more patients chose “No issue significant” (10% vs. 52%, p=0.002; 0% vs. 33%, p<0.001, respectively). Our findings indicate that value gaps do exist between patients and doctors and that most patients in Taiwan "fully trust" their doctors' recommendations for medical decisions. However, when treatment outcomes are far from ideal, this overinflated "trust" may turn into frustration, which could become the catalyst for medical disputes. Doctors should spend more time having more effective communication with their patients, particularly regarding potentially dissatisfactory treatment outcomes. This study underscores the substantial variability in the patient-doctor value gap, often overlooked in SDM. Patients from different clinical backgrounds may hold values distinct from those of their healthcare providers. Bridging this value gap is imperative for achieving genuine and effective SDM.

Keywords: share-decision making, value gaps, communication, doctor-patient relationship

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Authors: Fusun Akdag

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Today, as business becomes increasingly global, managers/leaders of multinational companies or local companies work with employees or customers from a variety of cultural backgrounds. To do this effectively, they need to develop cultural competence. Therefore, cultural intelligence (CQ) becomes a vitally important aptitude and skill, especially for leaders. The organizational success or failure depends upon the way, the kind of leadership which has been provided to its members. The culture we are born into deeply effects our values, beliefs, and behavior. Cultural intelligence (CQ) focuses on how well individuals can relate and work across cultures. CQ helps minimize conflict and maximize performance of a diverse workforce. The term 'decision,' refers to a commitment to a course of action that is intended to serve the interests and values of particular people. One dimension of culture that has received attention is individualism-collectivism or, independence-interdependence. These dimensions are associated with different conceptualizations of the 'self.' Individualistic cultures tend to value personal goal pursuit as opposed to pursuit of others’ goals. Collectivistic cultures, by contrast, view the 'self' as part of a whole. Each person is expected to work with his or her in-group toward goals, generally pursue group harmony. These differences underlie cross-cultural variation in decision-making, such as the decision modes people use, their preferences, negotiation styles, creativity, and more. The aim of this study is determining the effect of CQ on decision making styles of male and female managers in Turkey, an emergent economy framework. The survey is distributed to gather data from managers at various companies. The questionnaire consists of three parts: demographics, The Cultural Intelligence Scale (CQS) to measure the four dimensions of cultural intelligence and General Decision Making Style (GMDS) Inventory to measure the five subscales of decision making. The results will indicate the Turkish managers’ score at metacognitive, cognitive, motivational and behavioral aspects of cultural intelligence and to what extent these scores affect their rational, avoidant, dependent, intuitive and spontaneous decision making styles since business leaders make dozens of decisions every day that influence the success of the company and also having an impact on employees, customers, shareholders and the market.

Keywords: cultural intelligence, decision making, gender differences, management styles,

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Authors: Omar Mayyas

Abstract:

Clinical decision-making (CDM) is essential to community health nursing (CHN) education. For this reason, nursing educators are responsible for developing these skills among nursing students because nursing students are exposed to highly critical conditions after graduation. However, due to limited exposure to real-world situations, many nursing students need help developing clinical decision-making skills in this area. Therefore, the impact of Virtual Simulation (VS) on community health nursing students' clinical decision-making in nursing education has to be investigated. This study aims to examine the difference in CDM ability among CHN students who received traditional education compared to those who received VS classes, to identify the factors that may influence CDM ability differences between CHN students who received a traditional education and VS classes, and to provide recommendations for educational programs that can enhance the CDM ability of CHN students and improve the quality of care provided in community settings. A mixed-method study will conduct. A randomized controlled trial will compare the CDM ability of CHN students who received 1hr traditional class with another group who received 1hr VS scenario about diabetic patient nursing care. Sixty-four students in each group will randomly select to be exposed to the intervention from undergraduate nursing students who completed the CHN course at York University. The participants will receive the same Clinical Decision Making in Nursing Scale (CDMNS) questionnaire. The study intervention will follow the Medical Research Council (MRC) approach. SPSS and content analysis will use for data analysis.

Keywords: clinical decision-making, virtual simulation, community health nursing students, community health nursing education

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Authors: Sakul Jariyachansit

Abstract:

The purposes of this research were to investigate and to compare the factors affecting the decision for Tourism in Thailand by ASEAN Tourists and among ASEAN community tourists. Samples in this research were 400 ASEAN Community Tourists who travel in Thailand at Suvarnabhumi Airport during November 2016 - February 2016. The researchers determined the sample size by using the formula Taro Yamane at 95% confidence level tolerances 0.05. The English questionnaire, research instrument, was distributed by convenience sampling, for gathering data. Descriptive statistics was applied to analyze percentages, mean and standard deviation and used for hypothesis testing. The statistical analysis by multiple regression analysis (Multiple Regression) was employed to prove the relationship hypotheses at the significant level of 0.01. The results showed that majority of the respondents indicated the factors affecting the decision for Tourism in Thailand by ASEAN Tourists, in general there were a moderate effects and the mean of each side is moderate. Transportation was the most influential factor for tourism in Thailand. Therefore, the mode of transport, information, infrastructure and personnel are very important to factor affecting decision making for tourism in Thailand by ASEAN tourists. From the hypothesis testing, it can be predicted that the decision for choosing Tourism in Thailand is at R2 = 0.449. The predictive equation is decision for choosing Tourism in Thailand = 1.195 (constant value) + 0.425 (tourist attraction) +0.217 (information received) and transportation factors, tourist attraction, information, human resource and infrastructure at the significant level of 0.01.

Keywords: factor, decision making, ASEAN tourists, tourism in Thailand

Procedia PDF Downloads 180

Authors: Hsuan Yu Lai, Hsuan Hsuan Chang

Abstract:

The consumer decision process steps through problems by weighing evidence, examining alternatives, and choosing a decision path. Currently, the COVID 19 made the tourism industry encounter a huge challenge and suffer the biggest amount of economic loss. It would be very important to reexamine the decision-making process model, especially after the pandemic, and consider the differences among different generations. The tourism industry has been significantly impacted by the global outbreak of COVID-19, but as the pandemic subsides, the sector is recovering. This study addresses the scarcity of research on travel decision-making patterns among generations in Taiwan. Specifically targeting individuals who frequently traveled abroad before the pandemic, the study explores differences in decision-making at different stages post-outbreak. So this study investigates differences in travel decision-making among individuals from different generations during/after the COVID-19 pandemic and examines the moderating effects of social media usage and individuals' perception of health risks. The study hypotheses are “there are significant differences in the decision-making process including travel motivation, information searching preferences, and criteria for decision-making” and that social-media usage and health-risk perception would moderate the results of the previous study hypothesis. The X, Y, and Z generations are defined and categorized based on a literature review. The survey collected data including their social-economic background, travel behaviors, motivations, considerations for destinations, travel information searching preferences, and decision-making criteria before/after the pandemic based on the reviews of previous studies. Data from 656 online questionnaires were collected between January to May 2023 and from Taiwanese travel consumers who used to travel at least one time abroad before Covid-19. SPSS is used to analyze the data with One-Way ANOVA and Two-Way ANOVA. The analysis includes demand perception, information gathering, alternative comparison, purchase behavior, and post-travel experience sharing. Social media influence and perception of health risks are examined as moderating factors. The findings show that before the pandemic, the Y Generation preferred natural environments, while the X Generation favored historical and cultural sites compared to the Z Generation. However, after the outbreak, the Z Generation displayed a significant preference for entertainment activities. This study contributes to understanding changes in travel decision-making patterns following COVID-19 and the influence of social media and health risks. The findings have practical implications for the tourism industry.

Keywords: consumer decision-making, generation study, health risk perception, post-pandemic era, social media

Procedia PDF Downloads 37

Authors: Lenka Krsnakova, Petr Jirsak

Abstract:

Prior research on facility location in supply chain is mostly focused on improvement of mathematical models. It is due to the fact that supply chain design has been for the long time the area of operational research that underscores mainly quantitative criteria. Qualitative criteria are still highly neglected within the supply chain design research. Facility location in the supply chain has become multi-criteria decision-making problem rather than single criteria decision due to changes of market conditions. Thus, both qualitative and quantitative criteria have to be included in the decision making process. The aim of this study is to emphasize the importance of qualitative criteria as key parameters of relevant mathematical models. We examine which criteria are taken into consideration when Czech companies decide about their facility location. A literature review on criteria being used in facility location decision making process creates a theoretical background for the study. The data collection was conducted through questionnaire survey. Questionnaire was sent to manufacturing and business companies of all sizes (small, medium and large enterprises) with the representation in the Czech Republic within following sectors: automotive, toys, clothing industry, electronics and pharmaceutical industry. Comparison of which criteria prevail in the current research and which are considered important by companies in the Czech Republic is made. Despite the number of articles focused on supply chain design, only minority of them consider qualitative criteria and rarely process supply chain design as a multi-criteria decision making problem. Preliminary results of the questionnaire survey outlines that companies in the Czech Republic see the qualitative criteria and their impact on facility location decision as crucial. Qualitative criteria as company strategy, quality of working environment or future development expectations are confirmed to be considered by Czech companies. This study confirms that the qualitative criteria can significantly influence whether a particular location could or could not be right place for a logistic facility. The research has two major limitations: researchers who focus on improving of mathematical models mostly do not mention criteria that enter the model. Czech supply chain managers selected important criteria from the group of 18 available criteria and assign them importance weights. It does not necessarily mean that these criteria were taken into consideration when the last facility location was chosen, but how they perceive that today. Since the study confirmed the necessity of future research on how qualitative criteria influence decision making process about facility location, the authors have already started in-depth interviews with participating companies to reveal how the inclusion of qualitative criteria into decision making process about facility location influence the company´s performance.

Keywords: criteria influencing facility location, Czech Republic, facility location decision-making, qualitative criteria

Procedia PDF Downloads 297