Search results for: Multi-criteria decision making
1580 The Application of Real Options to Capital Budgeting
Authors: George Yungchih Wang
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Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.
Keywords: real options, capital budgeting, geometric Brownianmotion, mixed diffusion-jump, mean-reverting process
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 27541579 The Use of S Curves in Technology Forecasting and its Application On 3D TV Technology
Authors: Gizem Intepe, Tufan Koc
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S-Curves are commonly used in technology forecasting. They show the paths of product performance in relation to time or investment in R&D. It is a useful tool to describe the inflection points and the limit of improvement of a technology. Companies use this information to base their innovation strategies. However inadequate use and some limitations of this technique lead to problems in decision making. In this paper first technology forecasting and its importance for company level strategies will be discussed. Secondly the S-Curve and its place among other forecasting techniques will be introduced. Thirdly its use in technology forecasting will be discussed based on its advantages, disadvantages and limitations. Finally an application of S-curve on 3D TV technology using patent data will also be presented and the results will be discussed.Keywords: Patent analysis, Technological forecasting. S curves, 3D TV
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 77621578 Granting Saudi Women the Right to Drive in the Eyes of Qatari Media
Authors: Rasha A. Salameh
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This research attempts to evaluate the treatment provided by the Qatari media to the decision to allow Saudi women to drive, and then activate this decision after a few months, that is, within the time frame between September 26, 2017 until June 30, 2018. This is through asking several questions, including whether the political dispute between Qatar and Saudi Arabia has cast a shadow over this handling, and if these Qatari media handlings are used to criticize the Saudi regime for delaying this step. Here emerges one of the research hypotheses that says that the coverage did not have the required professionalism, due to the fact that the decision and its activation took place in light of the political stalemate between Qatar and the Kingdom of Saudi Arabia, which requires testing the media framing and agenda theories to know to what extent they apply to this case. The research dealt with a sample of five Qatari media read in this sample: Al-Jazeera Net, The New Arab Newspaper, Al-Sharq Newspaper, The Arab Newspaper, and Al-Watan Newspaper. The results showed that most of the authors who covered the decision to allow Saudi women to drive a car did not achieve a balance in their writing, and that almost half of them did not have objectivity, and this indicates the proof of the hypothesis that there is a defect in the professional competence in covering the decision to allow Saudi women to drive cars by means of Qatari media, and the researcher attributes this result to the political position between Qatar and Saudi Arabia, in addition to the fact that the Arab media in most of them are characterized by a low ceiling of freedom, and most of them are identical in their position with the position of the regime’s official view.
Keywords: Saudi women, stereotypes, hate speech, framing.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 7351577 Solving an Extended Resource Leveling Problem with Multiobjective Evolutionary Algorithms
Authors: Javier Roca, Etienne Pugnaghi, Gaëtan Libert
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We introduce an extended resource leveling model that abstracts real life projects that consider specific work ranges for each resource. Contrary to traditional resource leveling problems this model considers scarce resources and multiple objectives: the minimization of the project makespan and the leveling of each resource usage over time. We formulate this model as a multiobjective optimization problem and we propose a multiobjective genetic algorithm-based solver to optimize it. This solver consists in a two-stage process: a main stage where we obtain non-dominated solutions for all the objectives, and a postprocessing stage where we seek to specifically improve the resource leveling of these solutions. We propose an intelligent encoding for the solver that allows including domain specific knowledge in the solving mechanism. The chosen encoding proves to be effective to solve leveling problems with scarce resources and multiple objectives. The outcome of the proposed solvers represent optimized trade-offs (alternatives) that can be later evaluated by a decision maker, this multi-solution approach represents an advantage over the traditional single solution approach. We compare the proposed solver with state-of-art resource leveling methods and we report competitive and performing results.
Keywords: Intelligent problem encoding, multiobjective decision making, evolutionary computing, RCPSP, resource leveling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 41811576 A Novel Approach of Route Choice in Stochastic Time-varying Networks
Authors: Siliang Wang, Minghui Wang
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Many exist studies always use Markov decision processes (MDPs) in modeling optimal route choice in stochastic, time-varying networks. However, taking many variable traffic data and transforming them into optimal route decision is a computational challenge by employing MDPs in real transportation networks. In this paper we model finite horizon MDPs using directed hypergraphs. It is shown that the problem of route choice in stochastic, time-varying networks can be formulated as a minimum cost hyperpath problem, and it also can be solved in linear time. We finally demonstrate the significant computational advantages of the introduced methods.Keywords: Markov decision processes (MDPs), stochastictime-varying networks, hypergraphs, route choice.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15381575 Cognitive Virtual Exploration for Optimization Model Reduction
Authors: Livier Serna, Xavier Fischer, Fouad Bennis
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In this paper, a decision aid method for preoptimization is presented. The method is called “negotiation", and it is based on the identification, formulation, modeling and use of indicators defined as “negotiation indicators". These negotiation indicators are used to explore the solution space by means of a classbased approach. The classes are subdomains for the negotiation indicators domain. They represent equivalent cognitive solutions in terms of the negotiation indictors being used. By this method, we reduced the size of the solution space and the criteria, thus aiding the optimization methods. We present an example to show the method.Keywords: Optimization Model Reduction, Pre-Optimization, Negotiation Process, Class-Making, Cognition Based VirtualExploration.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14161574 Production Structure Monitoring - A Neurologic Based Approach
Authors: G. Reinhart, J. Pohl
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Manufacturing companies are facing a broad variety of challenges caused by a dynamic production environment. To succeed in such an environment, it is crucial to minimize the loss of time required to trigger the adaptation process of a company-s production structures. This paper presents an approach for the continuous monitoring of production structures by neurologic principles. It enhances classical monitoring concepts, which are principally focused on reactive strategies, and enables companies to act proactively. Thereby, strategic aspects regarding the harmonization of certain life cycles are integrated into the decision making process for triggering the reconfiguration process of the production structure.Keywords: Continuous Factory Planning, Production Structure, Production Management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14391573 Performance Assessment of Multi-Level Ensemble for Multi-Class Problems
Authors: Rodolfo Lorbieski, Silvia Modesto Nassar
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Many supervised machine learning tasks require decision making across numerous different classes. Multi-class classification has several applications, such as face recognition, text recognition and medical diagnostics. The objective of this article is to analyze an adapted method of Stacking in multi-class problems, which combines ensembles within the ensemble itself. For this purpose, a training similar to Stacking was used, but with three levels, where the final decision-maker (level 2) performs its training by combining outputs from the tree-based pair of meta-classifiers (level 1) from Bayesian families. These are in turn trained by pairs of base classifiers (level 0) of the same family. This strategy seeks to promote diversity among the ensembles forming the meta-classifier level 2. Three performance measures were used: (1) accuracy, (2) area under the ROC curve, and (3) time for three factors: (a) datasets, (b) experiments and (c) levels. To compare the factors, ANOVA three-way test was executed for each performance measure, considering 5 datasets by 25 experiments by 3 levels. A triple interaction between factors was observed only in time. The accuracy and area under the ROC curve presented similar results, showing a double interaction between level and experiment, as well as for the dataset factor. It was concluded that level 2 had an average performance above the other levels and that the proposed method is especially efficient for multi-class problems when compared to binary problems.Keywords: Stacking, multi-layers, ensemble, multi-class.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10841572 Intelligent Agent System Simulation Using Fear Emotion
Authors: Latifeh PourMohammadBagher
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In this paper I have developed a system for evaluating the degree of fear emotion that the intelligent agent-based system may feel when it encounters to a persecuting event. In this paper I want to describe behaviors of emotional agents using human behavior in terms of the way their emotional states evolve over time. I have implemented a fuzzy inference system using Java environment. As the inputs of this system, I have considered three parameters related on human fear emotion. The system outputs can be used in agent decision making process or choosing a person for team working systems by combination the intensity of fear to other emotion intensities.Keywords: Emotion simulation, Fear, Fuzzy intelligent agent
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14491571 Online Signature Verification Using Angular Transformation for e-Commerce Services
Authors: Peerapong Uthansakul, Monthippa Uthansakul
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The rapid growth of e-Commerce services is significantly observed in the past decade. However, the method to verify the authenticated users still widely depends on numeric approaches. A new search on other verification methods suitable for online e-Commerce is an interesting issue. In this paper, a new online signature-verification method using angular transformation is presented. Delay shifts existing in online signatures are estimated by the estimation method relying on angle representation. In the proposed signature-verification algorithm, all components of input signature are extracted by considering the discontinuous break points on the stream of angular values. Then the estimated delay shift is captured by comparing with the selected reference signature and the error matching can be computed as a main feature used for verifying process. The threshold offsets are calculated by two types of error characteristics of the signature verification problem, False Rejection Rate (FRR) and False Acceptance Rate (FAR). The level of these two error rates depends on the decision threshold chosen whose value is such as to realize the Equal Error Rate (EER; FAR = FRR). The experimental results show that through the simple programming, employed on Internet for demonstrating e-Commerce services, the proposed method can provide 95.39% correct verifications and 7% better than DP matching based signature-verification method. In addition, the signature verification with extracting components provides more reliable results than using a whole decision making.Keywords: Online signature verification, e-Commerce services, Angular transformation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15691570 A Hybrid Classification Method using Artificial Neural Network Based Decision Tree for Automatic Sleep Scoring
Authors: Haoyu Ma, Bin Hu, Mike Jackson, Jingzhi Yan, Wen Zhao
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In this paper we propose a new classification method for automatic sleep scoring using an artificial neural network based decision tree. It attempts to treat sleep scoring progress as a series of two-class problems and solves them with a decision tree made up of a group of neural network classifiers, each of which uses a special feature set and is aimed at only one specific sleep stage in order to maximize the classification effect. A single electroencephalogram (EEG) signal is used for our analysis rather than depending on multiple biological signals, which makes greatly simplifies the data acquisition process. Experimental results demonstrate that the average epoch by epoch agreement between the visual and the proposed method in separating 30s wakefulness+S1, REM, S2 and SWS epochs was 88.83%. This study shows that the proposed method performed well in all the four stages, and can effectively limit error propagation at the same time. It could, therefore, be an efficient method for automatic sleep scoring. Additionally, since it requires only a small volume of data it could be suited to pervasive applications.
Keywords: Sleep, Sleep stage, Automatic sleep scoring, Electroencephalography, Decision tree, Artificial neural network
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20611569 Wangle the Organizational Internal and External Knowledge – A New Horizon for Sustaining the Business Stability
Authors: Asim N., M. Mazhar Manzoor, Shariq A.
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Knowledge is renowned as a significant component for sustaining competitive advantage and gives leading edge in business. This study emphasizes towards proper and effectuate utilization of internal and external (both either explicit or tacit) knowledge comes from stakeholders, highly supportive to combat with the challenges and enhance organizational productivity. Furthermore, it proposed a model under context of IRSA framework which facilitates the organization including flow of knowledge and experience sharing among employees. In discussion section an innovative model which indulges all functionality as mentioned in analysis section.Keywords: Effective Decision-Making, Internal & ExternalKnowledge, Knowledge Management, Tacit & Explicit Knowledge.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13061568 Simplex Method for Solving Linear Programming Problems with Fuzzy Numbers
Authors: S. H. Nasseri, E. Ardil, A. Yazdani, R. Zaefarian
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The fuzzy set theory has been applied in many fields, such as operations research, control theory, and management sciences, etc. In particular, an application of this theory in decision making problems is linear programming problems with fuzzy numbers. In this study, we present a new method for solving fuzzy number linear programming problems, by use of linear ranking function. In fact, our method is similar to simplex method that was used for solving linear programming problems in crisp environment before.Keywords: Fuzzy number linear programming, rankingfunction, simplex method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 35111567 Auction Theory: Bidder-s Perspective in a Public Out-Cry English Auction
Authors: Jagannath Aryal, Don Kulasiri, Garth A. Carnaby
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This paper provides an overview of auction theory literature. We present a general review on literature of various auctions and focus ourselves specifically on an English auction. We are interested in modelling bidder-s behavior in an English auction environment. And hence, we present an overview of the New Zealand wool auction followed by a model that would describe a bidder-s decision making behavior from the New Zealand wool auction. The mathematical assumptions in an English auction environment are demonstrated from the perspective of the New Zealand wool auction.Keywords: Bidder, English auction, New Zealand, Wool
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12751566 The Role of Food Labeling on Consumers’ Buying Decision: Georgian Case
Authors: Nugzar Todua
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The paper studies the role of food labeling in order to promote healthy eating issue in Georgia. The main focus of the research is directed to consumer attitudes regarding food labeling. The methodology of the paper is based on the focus group work, as well as online and face to face surveys. The data analysis has been provided through ANOVA. The study proves that the impact of variables such as the interest, awareness, reliability, assurance and satisfaction of consumers' on buying decision, is statistically important. The study reveals that consumers’ perception regarding to food labeling is positive, but their level of knowledge and ability is rather low. It is urgent to strengthen marketing promotions strategies in the process of implementations of food security policy in Georgia.Keywords: Food labeling, buying decision, Georgian consumers, marketing research.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10531565 Improvement of New Government R&D Program Plans through Preliminary Feasibility Studies
Authors: Hyun-Kyu Kang
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As a part of an evaluation system for R&D programs, the Korean Government has applied the preliminary feasibility study to new government R&D program plans. Basically, the fundamental purpose of the preliminary feasibility study is to decide that the government will either do or do not invest in a new R&D Program. Additionally, the preliminary feasibility study can contribute to the improvement of R&D program plans. For example, 2 cases of new R&D program plans applied to the study are explained in this paper and there are expectations that these R&D programs would yield better performance than without the study. It is thought that the important point of the preliminary feasibility study is not only the effective decision making process of R&D program but also the opportunity to improve R&D program plan actually.Keywords: Preliminary feasibility study, Government R&D program.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12931564 Scheduled Maintenance and Downtime Cost in Aircraft Maintenance Management
Authors: Remzi Saltoglu, Nazmia Humaira, Gokhan Inalhan
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During aircraft maintenance scheduling, operator calculates the budget of the maintenance. Usually, this calculation includes only the costs that are directly related to the maintenance process such as cost of labor, material, and equipment. In some cases, overhead cost is also included. However, in some of those, downtime cost is neglected claiming that grounding is a natural fact of maintenance; therefore, it is not considered as part of the analytical decision-making process. Based on the normalized data, we introduce downtime cost with its monetary value and add its seasonal character. We envision that the rest of the model, which works together with the downtime cost, could be checked with the real life cases, through the review of MRO cost and airline spending in the particular and scheduled maintenance events.
Keywords: Aircraft maintenance, downtime, downtime cost, maintenance cost.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 44091563 Performance Analysis of Search Medical Imaging Service on Cloud Storage Using Decision Trees
Authors: González A. Julio, Ramírez L. Leonardo, Puerta A. Gabriel
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Telemedicine services use a large amount of data, most of which are diagnostic images in Digital Imaging and Communications in Medicine (DICOM) and Health Level Seven (HL7) formats. Metadata is generated from each related image to support their identification. This study presents the use of decision trees for the optimization of information search processes for diagnostic images, hosted on the cloud server. To analyze the performance in the server, the following quality of service (QoS) metrics are evaluated: delay, bandwidth, jitter, latency and throughput in five test scenarios for a total of 26 experiments during the loading and downloading of DICOM images, hosted by the telemedicine group server of the Universidad Militar Nueva Granada, Bogotá, Colombia. By applying decision trees as a data mining technique and comparing it with the sequential search, it was possible to evaluate the search times of diagnostic images in the server. The results show that by using the metadata in decision trees, the search times are substantially improved, the computational resources are optimized and the request management of the telemedicine image service is improved. Based on the experiments carried out, search efficiency increased by 45% in relation to the sequential search, given that, when downloading a diagnostic image, false positives are avoided in management and acquisition processes of said information. It is concluded that, for the diagnostic images services in telemedicine, the technique of decision trees guarantees the accessibility and robustness in the acquisition and manipulation of medical images, in improvement of the diagnoses and medical procedures in patients.
Keywords: Cloud storage, decision trees, diagnostic image, search, telemedicine.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9321562 Application of a New Efficient Normal Parameter Reduction Algorithm of Soft Sets in Online Shopping
Authors: Xiuqin Ma, Hongwu Qin
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A new efficient normal parameter reduction algorithm of soft set in decision making was proposed. However, up to the present, few documents have focused on real-life applications of this algorithm. Accordingly, we apply a New Efficient Normal Parameter Reduction algorithm into real-life datasets of online shopping, such as Blackberry Mobile Phone Dataset. Experimental results show that this algorithm is not only suitable but feasible for dealing with the online shopping.
Keywords: Normal parameter reduction, Online shopping, Parameter reduction, Soft sets.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18181561 Simplex Method for Fuzzy Variable Linear Programming Problems
Authors: S.H. Nasseri, E. Ardil
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Fuzzy linear programming is an application of fuzzy set theory in linear decision making problems and most of these problems are related to linear programming with fuzzy variables. A convenient method for solving these problems is based on using of auxiliary problem. In this paper a new method for solving fuzzy variable linear programming problems directly using linear ranking functions is proposed. This method uses simplex tableau which is used for solving linear programming problems in crisp environment before.
Keywords: Fuzzy variable linear programming, fuzzy number, ranking function, simplex method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 33341560 Some Investigations on Higher Mathematics Scores for Chinese University Student
Authors: Xun Ge, Jingju Qian
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To investigate some relations between higher mathe¬matics scores in Chinese graduate student entrance examination and calculus (resp. linear algebra, probability statistics) scores in subject's completion examination of Chinese university, we select 20 students as a sample, take higher mathematics score as a decision attribute and take calculus score, linear algebra score, probability statistics score as condition attributes. In this paper, we are based on rough-set theory (Rough-set theory is a logic-mathematical method proposed by Z. Pawlak. In recent years, this theory has been widely implemented in the many fields of natural science and societal science.) to investigate importance of condition attributes with respective to decision attribute and strength of condition attributes supporting decision attribute. Results of this investigation will be helpful for university students to raise higher mathematics scores in Chinese graduate student entrance examination.
Keywords: Rough set, higher mathematics scores, decision attribute, condition attribute.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10751559 Development of Researcher Knowledge in Mathematics Education: Towards a Confluence Framework
Authors: I. Kontorovich, R. Zazkis
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We present a framework of researcher knowledge development in conducting a study in mathematics education. The key components of the framework are: knowledge germane to conducting a particular study, processes of knowledge accumulation, and catalyzing filters that influence a researcher decision making. The components of the framework originated from a confluence between constructs and theories in Mathematics Education, Higher Education and Sociology. Drawing on a self-reflective interview with a leading researcher in mathematics education, Professor Michèle Artigue, we illustrate how the framework can be utilized in data analysis. Criteria for framework evaluation are discussed.
Keywords: Community of practice, knowledge development, mathematics education research, researcher knowledge.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18361558 Environmental Management in Arid Regions:The Question of Water
Authors: Yousef Bakhbakhi, Mourad Boumaza
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Only recently have water ethics received focused interest in the international water community. Because water is metabolically basic to life, an ethical dimension persists in every decision related to water. Water ethics at once express human society-s approach to water and act as guidelines for behaviour. Ideas around water are often implicit and embedded as assumptions. They can be entrenched in behaviour and difficult to contest because they are difficult to “see". By explicitly revealing the ethical ideas underlying water-related decisions, human society-s relationship with water, and with natural systems of which water is part, can be contested and shifted or be accepted with conscious intention by human society. In recent decades, improved understanding of water-s importance for ecosystem functioning and ecological services for human survival is moving us beyond this growth-driven, supplyfocused management paradigm. Environmental ethics challenge this paradigm by extending the ethical sphere to the environment and thus water or water Resources management per se. An ethical approach is a legitimate, important, and often ignored approach to effect change in environmental decision making. This qualitative research explores principles of water ethics and examines the underlying ethical precepts of selected water policy examples. The constructed water ethic principles act as a set of criteria against which a policy comparison can be established. This study shows that water Resources management is a progressive issue by embracing full public participation and a new planning model, and knowledgegeneration initiatives.
Keywords: water resources, environmental management, publicparticipation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14361557 Auction Theory: Bidder's Perspective in an English Auction Environment
Authors: J. Aryal, D. Kulasiri, G. A. Carnaby
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This paper provides an overview of auction theory literature. We present a general review on literature of various auctions and focus ourselves specifically on an English auction. We are interested in modelling bidder's behavior in an English auction environment. And hence, we present an overview of the New Zealand wool auction followed by a model that would describe a bidder's decision making behavior from the New Zealand wool auction. The mathematical assumptions in an English auction environment are demonstrated from the perspective of the New Zealand wool auction.
Keywords: Bidder, English auction, New Zealand, wool.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14351556 Environmental Performance Assessment Model as a Sustainability Decision Tool for Small and Middle Sized Enterprises
Authors: Pavol Molnar, Martin Dolinsky
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Paper deals with environmental metrics and assessment systems devoted to Small and Medium Sized Enterprises. Authors are presenting proposed assessment model which has an ability to discover current environmental strengths and weaknesses of Small and Middle Sized Enterprise. Suggested model has also an ambition to become a Sustainability Decision Tool. Model is able to identify "best environmental devision" in the company, and to quantify how this decision contributed into overall environmental improvement. Authors understand environmental improvements as environmental innovations (product, process and organizational). Suggested model is based on its own concept; however, authors are also utilizing already existing environmental assessment tools.
Keywords: Corporate Social Responsibility, (e)IMPACT model, Environmental metrics, , Small and Middle Sized Enterprises
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15221555 Overriding Moral Intuitions – Does It Make Us Immoral? Dual-Process Theory of Higher Cognition Account for Moral Reasoning
Authors: Michał Białek, Simon J. Handley
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Moral decisions are considered as an intuitive process, while conscious reasoning is mostly used only to justify those intuitions. This problem is described in few different dual-process theories of mind, that are being developed e.g. by Frederick and Kahneman, Stanovich and Evans. Those theories recently evolved into tri-process theories with a proposed process that makes ultimate decision or allows to paraformal processing with focal bias.. Presented experiment compares the decision patterns to the implications of those models. In presented study participants (n=179) considered different aspects of trolley dilemma or its footbridge version and decided after that. Results show that in the control group 70% of people decided to use the lever to change tracks for the running trolley, and 20% chose to push the fat man down the tracks. In contrast, after experimental manipulation almost no one decided to act. Also the decision time difference between dilemmas disappeared after experimental manipulation. The result supports the idea of three co-working processes: intuitive (TASS), paraformal (reflective mind) and algorithmic process.Keywords: Moral reasoning, moral decision, reflection, trolley problem, dual-process theory of reasoning, tri-process theory of cognition.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20181554 Optimal Maintenance and Improvement Policies in Water Distribution System: Markov Decision Process Approach
Authors: Jong Woo Kim, Go Bong Choi, Sang Hwan Son, Dae Shik Kim, Jung Chul Suh, Jong Min Lee
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The Markov decision process (MDP) based methodology is implemented in order to establish the optimal schedule which minimizes the cost. Formulation of MDP problem is presented using the information about the current state of pipe, improvement cost, failure cost and pipe deterioration model. The objective function and detailed algorithm of dynamic programming (DP) are modified due to the difficulty of implementing the conventional DP approaches. The optimal schedule derived from suggested model is compared to several policies via Monte Carlo simulation. Validity of the solution and improvement in computational time are proved.
Keywords: Markov decision processes, Dynamic Programming, Monte Carlo simulation, Periodic replacement, Weibull distribution.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 28061553 The Use of Information for Inventory Decision in the Healthcare Industry
Authors: H. L. Chan, T. M. Choi, C. L. Hui, S. F. Ng
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In this study, we explore the use of information for inventory decision in the healthcare organization (HO). We consider the scenario when the HO can make use of the information collected from some correlated products to enhance its inventory planning. Motivated by our real world observations that HOs adopt RFID and bar-coding system for information collection purpose, we examine the effectiveness of these systems for inventory planning with Bayesian information updating. We derive the optimal ordering decision and study the issue of Pareto improvement in the supply chain. Our analysis demonstrates that RFID system will outperform the bar-coding system when the RFID system installation cost and the tag cost reduce to a level that is comparable with that of the barcoding system. We also show how an appropriately set wholesale pricing contract can achieve Pareto improvement in the HO supply chain.
Keywords: Efficient consumer response program, healthcare, inventory management, RFID system, bar-coding system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19001552 AI-Based Approaches for Task Offloading, Resource Allocation and Service Placement of IoT Applications: State of the Art
Authors: Fatima Z. Cherhabil, Mammar Sedrati, Sonia-Sabrina Bendib
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In order to support the continued growth, critical latency of IoT applications and various obstacles of traditional data centers, Mobile Edge Computing (MEC) has emerged as a promising solution that extends the cloud data-processing and decision-making to edge devices. By adopting a MEC structure, IoT applications could be executed locally, on an edge server, different fog nodes or distant cloud data centers. However, we are often faced with wanting to optimize conflicting criteria such as minimizing energy consumption of limited local capabilities (in terms of CPU, RAM, storage, bandwidth) of mobile edge devices and trying to keep high performance (reducing response time, increasing throughput and service availability) at the same time. Achieving one goal may affect the other making Task Offloading (TO), Resource Allocation (RA) and Service Placement (SP) complex processes. It is a nontrivial multi-objective optimization problem to study the trade-off between conflicting criteria. The paper provides a survey on different TO, SP and RA recent Multi-Objective Optimization (MOO) approaches used in edge computing environments, particularly Artificial Intelligent (AI) ones, to satisfy various objectives, constraints and dynamic conditions related to IoT applications.
Keywords: Mobile Edge Computing, Multi-Objective Optimization, Artificial Intelligence Approaches, Task Offloading, Resource Allocation, Service Placement.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4731551 Development of an Intelligent Decision Support System for Smart Viticulture
Authors: C. M. Balaceanu, G. Suciu, C. S. Bosoc, O. Orza, C. Fernandez, Z. Viniczay
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The Internet of Things (IoT) represents the best option for smart vineyard applications, even if it is necessary to integrate the technologies required for the development. This article is based on the research and the results obtained in the DISAVIT project. For Smart Agriculture, the project aims to provide a trustworthy, intelligent, integrated vineyard management solution that is based on the IoT. To have interoperability through the use of a multiprotocol technology (being the future connected wireless IoT) it is necessary to adopt an agnostic approach, providing a reliable environment to address cyber security, IoT-based threats and traceability through blockchain-based design, but also creating a concept for long-term implementations (modular, scalable). The ones described above represent the main innovative technical aspects of this project. The DISAVIT project studies and promotes the incorporation of better management tools based on objective data-based decisions, which are necessary for agriculture adapted and more resistant to climate change. It also exploits the opportunities generated by the digital services market for smart agriculture management stakeholders. The project's final result aims to improve decision-making, performance, and viticulturally infrastructure and increase real-time data accuracy and interoperability. Innovative aspects such as end-to-end solutions, adaptability, scalability, security and traceability, place our product in a favorable situation over competitors. None of the solutions in the market meet every one of these requirements by a unique product being innovative.
Keywords: Blockchain, IoT, smart agriculture, vineyard.
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