Search results for: consensus making.
1430 Consensus of Multi-Agent Systems under the Special Consensus Protocols
Authors: Konghe Xie
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Two consensus problems are considered in this paper. One is the consensus of linear multi-agent systems with weakly connected directed communication topology. The other is the consensus of nonlinear multi-agent systems with strongly connected directed communication topology. For the first problem, a simplified consensus protocol is designed: Each child agent can only communicate with one of its neighbors. That is, the real communication topology is a directed spanning tree of the original communication topology and without any cycles. Then, the necessary and sufficient condition is put forward to the multi-agent systems can be reached consensus. It is worth noting that the given conditions do not need any eigenvalue of the corresponding Laplacian matrix of the original directed communication network. For the second problem, the feedback gain is designed in the nonlinear consensus protocol. Then, the sufficient condition is proposed such that the systems can be achieved consensus. Besides, the consensus interval is introduced and analyzed to solve the consensus problem. Finally, two numerical simulations are included to verify the theoretical analysis.Keywords: Consensus, multi-agent systems, directed spanning tree, the Laplacian matrix.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9021429 A Method for Consensus Building between Teachers and Learners in a Value Co-Creative Learning Service
Authors: Ryota Sugino, Satoshi Mizoguchi, Koji Kimita, Keiichi Muramatsu, Tatsunori Matsui, Yoshiki Shimomura
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Improving added value and productivity of services entails improving both value-in-exchange and value-in-use. Value-in-use is realized by value co-creation, where providers and receivers create value together. In higher education services, value-in-use comes from learners achieving learning outcomes (e.g., knowledge and skills) that are consistent with their learning goals. To enhance the learning outcomes of a learner, it is necessary to enhance and utilize the abilities of the teacher along with the abilities of the learner. To do this, however, the learner and the teacher need to build a consensus about their respective roles. Teachers need to provide effective learning content; learners need to choose the appropriate learning strategies by using the learning content through consensus building. This makes consensus building an important factor in value co-creation. However, methods to build a consensus about their respective roles may not be clearly established, making such consensus difficult. In this paper, we propose some strategies for consensus building between a teacher and a learner in value co-creation. We focus on a teacher and learner co-design and propose an analysis method to clarify a collaborative design process to realize value co-creation. We then analyze some counseling data obtained from a university class. This counseling aimed to build a consensus for value-in-use, learning outcomes, and learning strategies between the teacher and the learner.Keywords: Consensus building, value co-creation, higher education, learning service.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17621428 A Finite-Time Consensus Protocol of the Multi-Agent Systems
Authors: Xin-Lei Feng, Ting-Zhu Huang
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According to conjugate gradient algorithm, a new consensus protocol algorithm of discrete-time multi-agent systems is presented, which can achieve finite-time consensus. Finally, a numerical example is given to illustrate our theoretical result.
Keywords: Consensus protocols; Graph theory; Multi-agent systems;Conjugate gradient algorithm; Finite-time.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21241427 Leader-following Consensus Criterion for Multi-agent Systems with Probabilistic Self-delay
Authors: M.J. Park, K.H. Kim, O.M. Kwon
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This paper proposes a delay-dependent leader-following consensus condition of multi-agent systems with both communication delay and probabilistic self-delay. The proposed methods employ a suitable piecewise Lyapunov-Krasovskii functional and the average dwell time approach. New consensus criterion for the systems are established in terms of linear matrix inequalities (LMIs) which can be easily solved by various effective optimization algorithms. Numerical example showed that the proposed method is effective.
Keywords: Multi-agent systems, probabilistic self-delay, consensus, Lyapunov method, LMI.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17401426 A Survey: Clustering Ensembles Techniques
Authors: Reza Ghaemi , Md. Nasir Sulaiman , Hamidah Ibrahim , Norwati Mustapha
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The clustering ensembles combine multiple partitions generated by different clustering algorithms into a single clustering solution. Clustering ensembles have emerged as a prominent method for improving robustness, stability and accuracy of unsupervised classification solutions. So far, many contributions have been done to find consensus clustering. One of the major problems in clustering ensembles is the consensus function. In this paper, firstly, we introduce clustering ensembles, representation of multiple partitions, its challenges and present taxonomy of combination algorithms. Secondly, we describe consensus functions in clustering ensembles including Hypergraph partitioning, Voting approach, Mutual information, Co-association based functions and Finite mixture model, and next explain their advantages, disadvantages and computational complexity. Finally, we compare the characteristics of clustering ensembles algorithms such as computational complexity, robustness, simplicity and accuracy on different datasets in previous techniques.Keywords: Clustering Ensembles, Combinational Algorithm, Consensus Function, Unsupervised Classification.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 34251425 Robust Stabilization against Unknown Consensus Network
Authors: Myung-Gon Yoon, Jung-Ho Moon, Tae Kwon Ha
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This paper studies a robust stabilization problem of a single agent in a multi-agent consensus system composed of identical agents, when the network topology of the system is completely unknown. It is shown that the transfer function of an agent in a consensus system can be described as a multiplicative perturbation of the isolated agent transfer function in frequency domain. From an existing robust stabilization result, we present sufficient conditions for a robust stabilization of an agent against unknown network topology.
Keywords: Multi-agent System, Robust Stabilization, Transfer Function.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18591424 Electroencephalography-Based Intention Recognition and Consensus Assessment during Emergency Response
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After natural and man-made disasters, robots can bypass the danger, expedite the search, and acquire unprecedented situational awareness to design rescue plans. Brain-computer interface is a promising option to overcome the limitations of tedious manual control and operation of robots in the urgent search-and-rescue tasks. This study aims to test the feasibility of using electroencephalography (EEG) signals to decode human intentions and detect the level of consensus on robot-provided information. EEG signals were classified using machine-learning and deep-learning methods to discriminate search intentions and agreement perceptions. The results show that the average classification accuracy for intention recognition and consensus assessment is 67% and 72%, respectively, proving the potential of incorporating recognizable users’ bioelectrical responses into advanced robot-assisted systems for emergency response.
Keywords: Consensus assessment, electroencephalogram, EEG, emergency response, human-robot collaboration, intention recognition, search and rescue.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3231423 Rank-Based Chain-Mode Ensemble for Binary Classification
Authors: Chongya Song, Kang Yen, Alexander Pons, Jin Liu
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In the field of machine learning, the ensemble has been employed as a common methodology to improve the performance upon multiple base classifiers. However, the true predictions are often canceled out by the false ones during consensus due to a phenomenon called “curse of correlation” which is represented as the strong interferences among the predictions produced by the base classifiers. In addition, the existing practices are still not able to effectively mitigate the problem of imbalanced classification. Based on the analysis on our experiment results, we conclude that the two problems are caused by some inherent deficiencies in the approach of consensus. Therefore, we create an enhanced ensemble algorithm which adopts a designed rank-based chain-mode consensus to overcome the two problems. In order to evaluate the proposed ensemble algorithm, we employ a well-known benchmark data set NSL-KDD (the improved version of dataset KDDCup99 produced by University of New Brunswick) to make comparisons between the proposed and 8 common ensemble algorithms. Particularly, each compared ensemble classifier uses the same 22 base classifiers, so that the differences in terms of the improvements toward the accuracy and reliability upon the base classifiers can be truly revealed. As a result, the proposed rank-based chain-mode consensus is proved to be a more effective ensemble solution than the traditional consensus approach, which outperforms the 8 ensemble algorithms by 20% on almost all compared metrices which include accuracy, precision, recall, F1-score and area under receiver operating characteristic curve.
Keywords: Consensus, curse of correlation, imbalanced classification, rank-based chain-mode ensemble.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7171422 Model-Free Distributed Control of Dynamical Systems
Authors: Javad Khazaei, Rick S. Blum
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Distributed control is an efficient and flexible approach for coordination of multi-agent systems. One of the main challenges in designing a distributed controller is identifying the governing dynamics of the dynamical systems. Data-driven system identification is currently undergoing a revolution. With the availability of high-fidelity measurements and historical data, model-free identification of dynamical systems can facilitate the control design without tedious modeling of high-dimensional and/or nonlinear systems. This paper develops a distributed control design using consensus theory for linear and nonlinear dynamical systems using sparse identification of system dynamics. Compared with existing consensus designs that heavily rely on knowing the detailed system dynamics, the proposed model-free design can accurately capture the dynamics of the system with available measurements and input data and provide guaranteed performance in consensus and tracking problems. Heterogeneous damped oscillators are chosen as examples of dynamical system for validation purposes.
Keywords: Consensus tracking, distributed control, model-free control, sparse identification of dynamical systems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5061421 The Role of People and Data in Complex Spatial-Related Long-Term Decisions: A Case Study of Capital Project Management Groups
Authors: Peter Boyes, Sarah Sharples, Paul Tennent, Gary Priestnall, Jeremy Morley
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Significant long-term investment projects can involve complex decisions. These are often described as capital projects and the factors that contribute to their complexity include budgets, motivating reasons for investment, stakeholder involvement, interdependent projects, and the delivery phases required. The complexity of these projects often requires management groups to be established involving stakeholder representatives, these teams are inherently multidisciplinary. This study uses two university campus capital projects as case studies for this type of management group. Due to the interaction of projects with wider campus infrastructure and users, decisions are made at varying spatial granularity throughout the project lifespan. This spatial-related context brings complexity to the group decisions. Sensemaking is the process used to achieve group situational awareness of a complex situation, enabling the team to arrive at a consensus and make a decision. The purpose of this study is to understand the role of people and data in complex spatial related long-term decision and sensemaking processes. The paper aims to identify and present issues experienced in practical settings of these types of decision. A series of exploratory semi-structured interviews with members of the two projects elicit an understanding of their operation. From two stages of thematic analysis, inductive and deductive, emergent themes are identified around the group structure, the data usage, and the decision making within these groups. When data were made available to the group, there were commonly issues with perception of veracity and validity of the data presented; this impacted the ability of the group to reach consensus and therefore for decision to be made. Similarly, there were different responses to forecasted or modelled data, shaped by the experience and occupation of the individuals within the multidisciplinary management group. This paper provides an understanding of further support required for team sensemaking and decision making in complex capital projects. The paper also discusses the barriers found to effective decision making in this setting and suggests opportunities to develop decision support systems in this team strategic decision-making process. Recommendations are made for further research into the sensemaking and decision-making process of this complex spatial-related setting.
Keywords: decision making, decisions under uncertainty, real decisions, sensemaking, spatial, team decision making
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4671420 The Weight of Corporate Social Responsibility Indicators in Measurement Procedure
Authors: Grigoris Giannarakis, Despina Galani, Charitoudi Georgia, Nikolaos Litinas
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The Corporate Social Responsibility (CSR) performance has garnered significant interest during the last two decades as numerous methodologies are proposed by Social Responsible Investment (SRI) indexes. The weight of each indicator is a crucial component of the CSR measurement procedures. Based on a previous study, the appropriate weight of each proposed indicator for the Greek telecommunication sector is specified using the rank reciprocal weighting. The Kendall-s Coefficient of Concordance and Spearman Correlation Coefficient non-parametric tests are adopted to determine the level of consensus among the experts concerning the importance rank of indicators. The results show that there is no consensus regarding the rank of indicators in most of stakeholders- domains. The equal weight for all indicators could be proposed as a solution for the lack of consensus among the experts. The study recommends three different equations concerning the adopted weight approach.
Keywords: Corporate Social Responsibility, Indicator, Weight.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23631419 Reform-Oriented Teaching of Introductory Statistics in the Health, Social and Behavioral Sciences – Historical Context and Rationale
Authors: Rossi A. Hassad
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There is widespread emphasis on reform in the teaching of introductory statistics at the college level. Underpinning this reform is a consensus among educators and practitioners that traditional curricular materials and pedagogical strategies have not been effective in promoting statistical literacy, a competency that is becoming increasingly necessary for effective decision-making and evidence-based practice. This paper explains the historical context of, and rationale for reform-oriented teaching of introductory statistics (at the college level) in the health, social and behavioral sciences (evidence-based disciplines). A firm understanding and appreciation of the basis for change in pedagogical approach is important, in order to facilitate commitment to reform, consensus building on appropriate strategies, and adoption and maintenance of best practices. In essence, reform-oriented pedagogy, in this context, is a function of the interaction among content, pedagogy, technology, and assessment. The challenge is to create an appropriate balance among these domains.
Keywords: Reform-oriented, reform, introductory statistics, health, behavioral sciences, evidence-based, psychology, teaching, learning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9881418 A Fuzzy MCDM Approach for Health-Care Waste Management
Authors: Mehtap Dursun, E. Ertugrul Karsak, Melis Almula Karadayi
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The management of the health-care wastes is one of the most important problems in Istanbul, a city with more than 12 million inhabitants, as it is in most of the developing countries. Negligence in appropriate treatment and final disposal of the healthcare wastes can lead to adverse impacts to public health and to the environment. This paper employs a fuzzy multi-criteria group decision making approach, which is based on the principles of fusion of fuzzy information, 2-tuple linguistic representation model, and technique for order preference by similarity to ideal solution (TOPSIS), to evaluate health-care waste (HCW) treatment alternatives for Istanbul. The evaluation criteria are determined employing nominal group technique (NGT), which is a method of systematically developing a consensus of group opinion. The employed method is apt to manage information assessed using multigranularity linguistic information in a decision making problem with multiple information sources. The decision making framework employs ordered weighted averaging (OWA) operator that encompasses several operators as the aggregation operator since it can implement different aggregation rules by changing the order weights. The aggregation process is based on the unification of information by means of fuzzy sets on a basic linguistic term set (BLTS). Then, the unified information is transformed into linguistic 2-tuples in a way to rectify the problem of loss information of other fuzzy linguistic approaches.Keywords: Group decision making, health care waste management, multi-criteria decision making, OWA, TOPSIS, 2-tuple linguistic representation
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23911417 Reliable Consensus Problem for Multi-Agent Systems with Sampled-Data
Authors: S. H. Lee, M. J. Park, O. M. Kwon
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In this paper, reliable consensus of multi-agent systems with sampled-data is investigated. By using a suitable Lyapunov-Krasovskii functional and some techniques such as Wirtinger Inequality, Schur Complement and Kronecker Product, the results of such system are obtained by solving a set of Linear Matrix Inequalities (LMIs). One numerical example is included to show the effectiveness of the proposed criteria.
Keywords: Multi-agent, Linear Matrix Inequalities (LMIs), Kronecker Product, Sampled-Data, Lyapunov method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17341416 On the Move to Semantic Web Services
Authors: Jorge Cardoso
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Semantic Web services will enable the semiautomatic and automatic annotation, advertisement, discovery, selection, composition, and execution of inter-organization business logic, making the Internet become a common global platform where organizations and individuals communicate with each other to carry out various commercial activities and to provide value-added services. There is a growing consensus that Web services alone will not be sufficient to develop valuable solutions due the degree of heterogeneity, autonomy, and distribution of the Web. This paper deals with two of the hottest R&D and technology areas currently associated with the Web – Web services and the Semantic Web. It presents the synergies that can be created between Web Services and Semantic Web technologies to provide a new generation of eservices.Keywords: Semantic Web, Web service, Web process, WWW.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12831415 Utilizing 5G Mobile Connection as a Node in Layer 1 Proof of Authority Blockchain Used for Microtransaction
Authors: Frode van der Laak
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The paper contributes to the feasibility of using a 5G mobile connection as a node for a Proof of Authority (PoA) blockchain, which is used for microtransactions at the same time. It uses the phone number identity of the users that are linked to the crypto wallet address. It also proposed a consensus protocol based on PoA blockchain; PoA is a permission blockchain where consensus is achieved through a set of designated authority rather than through mining, as is the case with a Proof of Work (PoW) blockchain. This report will first explain the concept of a PoA blockchain and how it works. It will then discuss the potential benefits and challenges of using a 5G mobile connection as a node in such a blockchain, and finally, the main open problem statement and proposed solutions with the requirements.
Keywords: 5G, mobile, connection, node, PoA, blockchain, microtransaction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1681414 Applying Participatory Design for the Reuse of Deserted Community Spaces
Authors: Wei-Chieh Yeh, Yung-Tang Shen
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The concept of community building started in 1994 in Taiwan. After years of development, it fostered the notion of active local resident participation in community issues as co-operators, instead of minions. Participatory design gives participants more control in the decision-making process, helps to reduce the friction caused by arguments and assists in bringing different parties to consensus. This results in an increase in the efficiency of projects run in the community. Therefore, the participation of local residents is key to the success of community building. This study applied participatory design to develop plans for the reuse of deserted spaces in the community from the first stage of brainstorming for design ideas, making creative models to be employed later, through to the final stage of construction. After conducting a series of participatory designed activities, it aimed to integrate the different opinions of residents, develop a sense of belonging and reach a consensus. Besides this, it also aimed at building the residents’ awareness of their responsibilities for the environment and related issues of sustainable development. By reviewing relevant literature and understanding the history of related studies, the study formulated a theory. It took the “2012-2014 Changhua County Community Planner Counseling Program” as a case study to investigate the implementation process of participatory design. Research data are collected by document analysis, participants’ observation and in-depth interviews. After examining the three elements of “Design Participation”, “Construction Participation”, and” Follow–up Maintenance Participation” in the case, the study emerged with a promising conclusion: Maintenance works were carried out better compared to common public works. Besides this, maintenance costs were lower. Moreover, the works that residents were involved in were more creative. Most importantly, the community characteristics could be easy be recognized.
Keywords: Participatory design, Deserted spaces, Community building, Reuse.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12881413 Effects of Initial State on Opinion Formation in Complex Social Networks with Noises
Authors: Yi Yu, Vu Xuan Nguyen, Gaoxi Xiao
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Opinion formation in complex social networks may exhibit complex system dynamics even when based on some simplest system evolution models. An interesting and important issue is the effects of the initial state on the final steady-state opinion distribution. By carrying out extensive simulations and providing necessary discussions, we show that, while different initial opinion distributions certainly make differences to opinion evolution in social systems without noises, in systems with noises, given enough time, different initial states basically do not contribute to making any significant differences in the final steady state. Instead, it is the basal distribution of the preferred opinions that contributes to deciding the final state of the systems. We briefly explain the reasons leading to the observed conclusions. Such an observation contradicts with a long-term belief on the roles of system initial state in opinion formation, demonstrating the dominating role that opinion mutation can play in opinion formation given enough time. The observation may help to better understand certain observations of opinion evolution dynamics in real-life social networks.
Keywords: Opinion formation, Deffuant model, opinion mutation, consensus making.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6641412 Strategies for Patient Families Integration in Caregiving: A Consensus Opinion
Authors: Ibrahim A. Alkali
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There is no reservation on the outstanding contribution of patient families in restoration of hospitalised patients, hence their consideration as essential component of hospital ward regimen. The psychological and emotional support a patient requires has been found to be solely provided by the patient’s family. However, consideration of their presence as one of the major functional requirements of an inpatient setting design have always been a source of disquiet, especially in developing countries where policies, norms and protocols of healthcare administration have no consideration for the patients’ family. This have been a major challenge to the hospital ward facilities, a concern for the hospital administration and patient management. The study therefore is aimed at obtaining a consensus opinion on the best approach for family integration in the design of an inpatient setting. A one day visioning charrette involving Architects, Nurses, Medical Doctors, Healthcare assistants and representatives from the Patient families was conducted with the aim of arriving at a consensus opinion on practical design approach for sustainable family integration. Patient’s family are found to be decisive character of hospital ward regimen that cannot be undermined. However, several challenges that impede family integration were identified and subsequently a recommendation for an ideal approach. This will serve as a guide to both architects and hospital management in implementing much desired Patient and Family Centred Care.
Keywords: Caregiving, Inpatient setting, Integration, Patient Families.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7681411 Fuzzy Decision Making via Multiple Attribute
Authors: Behnaz Zohouri, Mahdi Zowghiand, Mohsen haghighi
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In this paper, a method for decision making in fuzzy environment is presented.A new subjective and objective integrated approach is introduced that used to assign weight attributes in fuzzy multiple attribute decision making (FMADM) problems and alternatives and fmally ranked by proposed method.
Keywords: Multiple Attribute Decision Making, Triangular fuzzy numbers, ranking index, Fuzzy Entropy.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14631410 Taking People, Process and Partnership on Board for Participatory Decision Making
Authors: B. Mikulskienė
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Public administration institutions in cooperation with politicians are not the sole policy decision makers in full meaning any longer. Meanwhile, a special role, namely steering the decision making process, could be delegated to them. Despite the wide scientific discussion on different aspects what has direct impact on policy creation, there is a lack of holistic practical managerial advice, which could integrate infrastructure of policy decision making with intellectual capital and with interconnection of partnership. The proposed harmonized decision making model of process, people and partnership entitled by acronym HM-3P is analyzed as a framework for implementation of public administration steering role seeking the coherent social involvement in policy decision making.Keywords: participatory decision making, partnership, stakeholders.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14431409 Decision-Making Criteria of PPP Projects: Stakeholder Theoretic Perspective
Authors: Xueqin Shan, Wenhua Hou, Xiaosu Ye, Chuanming Wu
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Any decision-making is based on certain theory. Taking the public rental housing in Chongqing municipality as an example, this essay states that the stakeholder theory can provide innovative criteria and evaluation methods for Public Private Partnership (PPP) projects. It gives an analysis of how to choose decision-making criteria for different stakeholders in the PPP model and what measures to take to meet the criteria to form “symbiotic" decision-making mode through contracts and to boost the application of PPP model in large-scale public programs in China.Keywords: PPP, Stakeholder Theory, Stakeholders, Decision- making Criteria
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24111408 Carrying Out the Steps of Decision Making Process in Concrete Organization
Authors: Eva Štěpánková
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The decision-making process is theoretically clearly defined. Generally, it includes the problem identification and analysis, data gathering, goals and criteria setting, alternatives development and optimal alternative choice and its implementation. In practice however, various modifications of the theoretical decision-making process can occur. The managers can consider some of the phases to be too complicated or unfeasible and thus they do not carry them out and conversely some of the steps can be overestimated. The aim of the paper is to reveal and characterize the perception of the individual phases of decision-making process by the managers. The research is concerned with managers in the military environment – commanders. Quantitative survey is focused cross-sectionally in the individual levels of management of the Ministry of Defence of the Czech Republic. On the total number of 135 respondents the analysis focuses on which of the decision-making process phases are problematic or not carried out in practice and which are again perceived to be the easiest. Then it is examined the reasons of the findings.
Keywords: Decision making, decision making process, decision problems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19501407 Financial Decision-Making among Finance Students: An Empirical Study from the Czech Republic
Authors: Barbora Chmelíková
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Making sound financial decisions is an essential skill which can have an impact on life of each consumer of financial products. The aim of this paper is to examine decision-making concerning financial matters and personal finance. The selected target group was university students majoring in finance related fields. The study was conducted in the Czech Republic at Masaryk University in 2015. In order to analyze financial decision-making questions related to basic finance decisions were developed to address the research objective. The results of the study suggest gaps in detecting best solutions to given financial decision-making questions among finance students. The analysis results indicate relation between financial decision-making and own experience with holding and using concrete financial products.
Keywords: Financial decision-making, financial literacy, personal finance, university students.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 24971406 Strategic Decision Making Practice in Croatia – Which Decision Making Style is More Effective?
Authors: Ivana Bulog
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Decision making is a vital part of the business world and any other field of human endeavor. Which way a business organization will take, and where that way will lead it, depends on broad range of decisions made by managers in the managerial structure. Strategic decisions are of the greatest importance for organizational success. Although much empirical research has been done trying to describe and explain its nature and effectiveness, knowledge about strategic decision making is still incomplete. This paper explores the nature of strategic decision making in particular setting - in Croatian companies. The main focus of this research is on the style that decision makers on strategic management level are following when making decisions of life importance for their companies. Two main decision making style that explain the way decision maker collects and processes available information and performs all the activities in strategic decision making process were empirical tested: rational and intuitive one. Besides analyzing their existence on strategic management level in Croatian companies, their effectiveness is analyzed as well. Results showed that decision makers at strategic management level are following both styles somewhat equally in order to function effectively, and that intuitive style is more effective when considering decisions outcomes.
Keywords: Decision making style, decision making effectiveness, strategic decisions.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16811405 Developing Islamic Module Project for Preschool Teachers Using Modified Delphi Technique
Authors: Mazeni Ismail, Nurul Aliah, Hasmadi Hassan
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The purpose of this study is to gather the consensus of experts regarding the use of moral guidance amongst preschool teachers vis-a-vis the Islamic Project module (I-Project Module). This I-Project Module seeks to provide pertinent data on the assimilation of noble values in subject-matter teaching. To obtain consensus for the various components of the module, the Modified Delphi technique was used to develop the module. 12 subject experts from various educational fields of Islamic education, early childhood education, counselling and language fully participated in the development of this module. The Modified Delphi technique was administered in two mean cycles. The standard deviation value derived from questionnaires completed by the participating panel of experts provided the value of expert consensus reached. This was subsequently analyzed using SPSS version 22. Findings revealed that the panel of experts reached a discernible degree of agreement on five topics outlined in the module, viz; content (mean value 3.36), teaching strategy (mean value 3.28), programme duration (mean value 3.0), staff involved and attention-grabbing strategy of target group participating in the value program (mean value 3.5), and strategy to attract attention of target group to utilize i-project (mean value 3.0). With regard to the strategy to attract the attention of the target group, the experts proposed for creative activities to be added in order to enhance teachers’ creativity.
Keywords: Islamic project, modified Delphi technique, project approach, teacher moral guidance.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7281404 Adolescents’ Role in Family Buying Decision Making
Authors: Harleen Kaur, Deepika Jindal Singla
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Buying decision making is a complicated process, in which consumer’s decision is under the impact of others. The buying decision making is directed in a way that they have to act as customers in the society. Media and family are key socialising agents for adolescents’. Moreover, changes in the socio-cultural environment in India necessitate that adolescents’ influence in family’s buying decision-making should be investigated. In comparison to Western society, Indian is quite different, when compared in terms of family composition and structure, behaviour, values and norms which effect adolescents’ buying decision-making.
Keywords: Adolescents’, buying behaviour, Indian urban families, consumer socialization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9131403 Contextual Factors in the Decision Making of Industrialized Building System Technology
Authors: S. A. S. Zakaria, G. Brewer, T. Gajendran
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Currently, the Malaysian construction industry is focusing on transforming construction processes from conventional building methods to the Industrialized Building System (IBS). Still, research on the decision making of IBS technology adoption with the influence of contextual factors is scarce. The purpose of this paper is to explore how contextual factors influence the IBS decision making in building projects which is perceived by those involved in construction industry namely construction stakeholders and IBS supply chain members. Theoretical background, theoretical frameworks and literatures which identify possible contextual factors that influence decision making towards IBS technology adoption are presented. This paper also discusses the importance of contextual factors in IBS decision making, highlighting some possible crossover benefits and making some suggestions as to how these can be utilized. Conclusions are drawn and recommendations are made with respect to the perception of socio-economic, IBS policy and IBS technology associated with building projects.Keywords: decision making, technology adoptions, contextualfactors, Industrialized Building Systems
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25811402 Application of “Multiple Risk Communicator“ to the Personal Information Leakage Problem
Authors: Mitsuhiro Taniyama, Yuu Hidaka, Masato Arai, Satoshi Kai, Hiromi Igawa, Hiroshi Yajima, Ryoichi Sasaki
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Along with the progress of our information society, various risks are becoming increasingly common, causing multiple social problems. For this reason, risk communications for establishing consensus among stakeholders who have different priorities have become important. However, it is not always easy for the decision makers to agree on measures to reduce risks based on opposing concepts, such as security, privacy and cost. Therefore, we previously developed and proposed the “Multiple Risk Communicator" (MRC) with the following functions: (1) modeling the support role of the risk specialist, (2) an optimization engine, and (3) displaying the computed results. In this paper, MRC program version 1.0 is applied to the personal information leakage problem. The application process and validation of the results are discussed.Keywords: Decision Making, Personal Information Leakage Problem, Risk Communication, Risk Management
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16001401 Fuzzy Multi-Criteria Decision-Making Based on Ignatian Discernment Process
Authors: Pathinathan Theresanathan, Ajay Minj
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Ignatian Discernment Process (IDP) is an intense decision-making tool to decide on life-issues. Decisions are influenced by various factors outside of the decision maker and inclination within. This paper develops IDP in the context of Fuzzy Multi-criteria Decision Making (FMCDM) process. Extended VIKOR method is a decision-making method which encompasses even conflict situations and accommodates weightage to various issues. Various aspects of IDP, namely three ways of decision making and tactics of inner desires, are observed, analyzed and articulated within the frame work of fuzzy rules. The decision-making situations are broadly categorized into two types. The issues outside of the decision maker influence the person. The inner feeling also plays vital role in coming to a conclusion. IDP integrates both the categories using Extended VIKOR method. Case studies are carried out and analyzed with FMCDM process. Finally, IDP is verified with an illustrative case study and results are interpreted. A confused person who could not come to a conclusion is able to take decision on a concrete way of life through IDP. The proposed IDP model recommends an integrated and committed approach to value-based decision making.
Keywords: Analytical hierarchy process, fuzzy multi-criteria decision making, Ignatian discernment process, Ignatian discernment, multi-criteria decision making, VIKOR.
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