Search results for: multi-criteria decision
1433 Multi-Agent Based Modeling Using Multi-Criteria Decision Analysis and OLAP System for Decision Support Problems
Authors: Omar Boutkhoum, Mohamed Hanine, Tarik Agouti, Abdessadek Tikniouine
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This paper discusses the intake of combining multi-criteria decision analysis (MCDA) with OLAP systems, to generate an integrated analysis process dealing with complex multi-criteria decision-making situations. In this context, a multi-agent modeling is presented for decision support systems by combining multi-criteria decision analysis (MCDA) with OLAP systems. The proposed modeling which consists in performing the multi-agent system (MAS) architecture, procedure and protocol of the negotiation model is elaborated as a decision support tool for complex decision-making environments. Our objective is to take advantage from the multi-agent system which distributes resources and computational capabilities across interconnected agents, and provide a problem modeling in terms of autonomous interacting component-agents. Thus, the identification and evaluation of criteria as well as the evaluation and ranking of alternatives in a decision support situation will be performed by organizing tasks and user preferences between different agents in order to reach the right decision. At the end, an illustrative example is conducted to demonstrate the function and effectiveness of our MAS modeling.Keywords: Multidimensional Analysis, OLAP Analysis, Multi-criteria Decision Analysis, Multi-Agent System, Decision Support System.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18441432 Multiple Criteria Decision Making Analysis for Selecting and Evaluating Fighter Aircraft
Authors: C. Ardil, A. M. Pashaev, R.A. Sadiqov, P. Abdullayev
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In this paper, multiple criteria decision making analysis technique, is presented for ranking and selection of a set of determined alternatives - fighter aircraft - which are associated with a set of decision factors. In fighter aircraft design, conflicting decision criteria, disciplines, and technologies are always involved in the design process. Multiple criteria decision making analysis techniques can be helpful to effectively deal with such situations and make wise design decisions. Multiple criteria decision making analysis theory is a systematic mathematical approach for dealing with problems which contain uncertainties in decision making. The feasibility and contributions of applying the multiple criteria decision making analysis technique in fighter aircraft selection analysis is explored. In this study, an integrated framework incorporating multiple criteria decision making analysis technique in fighter aircraft analysis is established using entropy objective weighting method. An improved integrated multiple criteria decision making analysis method is utilized to aggregate the multiple decision criteria into one composite figure of merit, which serves as an objective function in the decision process. Therefore, it is demonstrated that the suitable multiple criteria decision making analysis method with decision solution provides an effective objective function for the decision making analysis. Considering that the inherent uncertainties and the weighting factors have crucial decision impacts on the fighter aircraft evaluation, seven fighter aircraft models for the multiple design criteria in terms of the weighting factors are constructed. The proposed multiple criteria decision making analysis model is based on integrated entropy index procedure, and additive multiple criteria decision making analysis theory. Hence, the applicability of proposed technique for fighter aircraft selection problem is considered. The constructed multiple criteria decision making analysis model can provide efficient decision analysis approach for uncertainty assessment of the decision problem. Consequently, the fighter aircraft alternatives are ranked based their final evaluation scores, and sensitivity analysis is conducted.
Keywords: Fighter Aircraft, Fighter Aircraft Selection, Multiple Criteria Decision Making, Multiple Criteria Decision Making Analysis, MCDMA
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 6251431 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.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12721430 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 14721429 Join and Meet Block Based Default Definite Decision Rule Mining from IDT and an Incremental Algorithm
Authors: Chen Wu, Jingyu Yang
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Using maximal consistent blocks of tolerance relation on the universe in incomplete decision table, the concepts of join block and meet block are introduced and studied. Including tolerance class, other blocks such as tolerant kernel and compatible kernel of an object are also discussed at the same time. Upper and lower approximations based on those blocks are also defined. Default definite decision rules acquired from incomplete decision table are proposed in the paper. An incremental algorithm to update default definite decision rules is suggested for effective mining tasks from incomplete decision table into which data is appended. Through an example, we demonstrate how default definite decision rules based on maximal consistent blocks, join blocks and meet blocks are acquired and how optimization is done in support of discernibility matrix and discernibility function in the incomplete decision table.Keywords: rough set, incomplete decision table, maximalconsistent block, default definite decision rule, join and meet block.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12871428 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 24221427 Evolutionary Decision Trees and Software Metrics for Module Defects Identification
Authors: Monica Chiş
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Software metric is a measure of some property of a piece of software or its specification. The aim of this paper is to present an application of evolutionary decision trees in software engineering in order to classify the software modules that have or have not one or more reported defects. For this some metrics are used for detecting the class of modules with defects or without defects.Keywords: Evolutionary decision trees, decision trees, softwaremetrics.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17511426 Evaluation Factors of Clinical Decision Support System in u_Healthcare Service
Authors: Sun K. Yoo, Ki-Chang Nam, Hyun-Young Shin, Ho-Seong Moon, Hee Cheol Kang
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Automated intelligent, clinical decision support systems generally promote to help or to assist physicians and patients regarding to prevention of diseases or treatment of illnesses using computer represented knowledge and information. In this paper, assessment factors affecting the proper design of clinical decision support system were investigated. The required procedure steps for gathering the data from clinical trial and extracting the information from large volume of healthcare repositories were listed, which are necessary for validation and verification of evidence-based implementation of clinical decision support system. The goal of this paper is to extract useful evaluation factors affecting the quality of the clinical decision support system in the design, development, and implementation of a computer-based decision support system.
Keywords: Evaluation, Clinical Decision Support System.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22371425 Analysis of Blind Decision Feedback Equalizer Convergence: Interest of a Soft Decision
Authors: S. Cherif, S. Marcos, M. Jaidane
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In this paper the behavior of the decision feedback equalizers (DFEs) adapted by the decision-directed or the constant modulus blind algorithms is presented. An analysis of the error surface of the corresponding criterion cost functions is first developed. With the intention of avoiding the ill-convergence of the algorithm, the paper proposes to modify the shape of the cost function error surface by using a soft decision instead of the hard one. This was shown to reduce the influence of false decisions and to smooth the undesirable minima. Modified algorithms using the soft decision during a pseudo-training phase with an automatic switch to the properly tracking phase are then derived. Computer simulations show that these modified algorithms present better ability to avoid local minima than conventional ones.Keywords: Blind DFEs, decision-directed algorithm, constant modulus algorithm, cost function analysis, convergence analysis, soft decision.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18811424 Research on Platform of Testing Reference Point Effect under Managerial Decision-making Simulation Environment
Authors: Yang Jiang, Zhuchao Yu, Zhu Wang, Xueying Hong
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Reference point effects of top managers exerts an influence on managerial decision-making behaviors. We introduces the main idea of developing the decision behavior testing system designed for top manager in team task circumstance. According to the theory of the reference point effect, study of testing experiments in the reference point effect is carried out. Under managerial decision-making simulation environment, a platform is designed for testing reference point effect. The system uses the outcome of the value of the reference point to report the characteristics of the decision behavior of top managers.
Keywords: reference point effect, decision-making behavior, top manager, managerial decision-making simulation environment.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 10681423 Negotiation Support for Value-based Decision in Construction
Authors: Christiono Utomo, Arazi Idrus, Isnanto, Annisa Nugraheni, Farida Rahmawati
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A Negotiation Support is required on a value-based decision to enable each stakeholder to evaluate and rank the solution alternatives before engaging into negotiation with the other stakeholders. This study demonstrates a process of negotiation support model for selection of a building system from value-based design perspective. The perspective is based on comparison of function and cost of a building system. Multi criteria decision techniques were applied to determine the relative value of the alternative solutions for performing the function. A satisfying option game theory are applied to the criteria of value-based decision which are LCC (life cycle cost) and function based FAST. The results demonstrate a negotiation process to select priorities of a building system. The support model can be extended to an automated negotiation by combining value based decision method, group decision and negotiation support.
Keywords: NSS, Value-based, Decision, Construction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17301422 Improved C-Fuzzy Decision Tree for Intrusion Detection
Authors: Krishnamoorthi Makkithaya, N. V. Subba Reddy, U. Dinesh Acharya
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As the number of networked computers grows, intrusion detection is an essential component in keeping networks secure. Various approaches for intrusion detection are currently being in use with each one has its own merits and demerits. This paper presents our work to test and improve the performance of a new class of decision tree c-fuzzy decision tree to detect intrusion. The work also includes identifying best candidate feature sub set to build the efficient c-fuzzy decision tree based Intrusion Detection System (IDS). We investigated the usefulness of c-fuzzy decision tree for developing IDS with a data partition based on horizontal fragmentation. Empirical results indicate the usefulness of our approach in developing the efficient IDS.Keywords: Data mining, Decision tree, Feature selection, Fuzzyc- means clustering, Intrusion detection.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15751421 Bayesian Decision Approach to Protection on the Flood Event in Upper Ayeyarwady River, Myanmar
Authors: Min Min Swe Zin
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This paper introduces the foundations of Bayesian probability theory and Bayesian decision method. The main goal of Bayesian decision theory is to minimize the expected loss of a decision or minimize the expected risk. The purposes of this study are to review the decision process on the issue of flood occurrences and to suggest possible process for decision improvement. This study examines the problem structure of flood occurrences and theoretically explicates the decision-analytic approach based on Bayesian decision theory and application to flood occurrences in Environmental Engineering. In this study, we will discuss about the flood occurrences upon an annual maximum water level in cm, 43-year record available from 1965 to 2007 at the gauging station of Sagaing on the Ayeyarwady River with the drainage area - 120193 sq km by using Bayesian decision method. As a result, we will discuss the loss and risk of vast areas of agricultural land whether which will be inundated or not in the coming year based on the two standard maximum water levels during 43 years. And also we forecast about that lands will be safe from flood water during the next 10 years.
Keywords: Bayesian decision method, conditional binomial distribution, minimax rules, prior beta distribution.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15781420 Distributed Data-Mining by Probability-Based Patterns
Authors: M. Kargar, F. Gharbalchi
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In this paper a new method is suggested for distributed data-mining by the probability patterns. These patterns use decision trees and decision graphs. The patterns are cared to be valid, novel, useful, and understandable. Considering a set of functions, the system reaches to a good pattern or better objectives. By using the suggested method we will be able to extract the useful information from massive and multi-relational data bases.Keywords: Data-mining, Decision tree, Decision graph, Pattern, Relationship.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15541419 Distributed GIS Based Decision Support System for Efficiency Evaluation of Education System: A Case Study of Primary School Education System of Bundelkhand Zone, Uttar Pradesh, India
Authors: Garima Srivastava, R. K. Srivastava, R. C. Vaishya
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Decision Support System (DSS), a query-based system meant to help decision makers to use a variety of information for decision making, plays a very vital role in sustainable growth of any country. For this very purpose it is essential to analyze the educational system because education is the only way through which people can be made aware as to how to sustain our planet. The purpose of this paper is to prepare a decision support system for efficiency evaluation of education system with the help of Distributed Geographical Information System.
Keywords: Distributed GIS, Web GIS, Spatial Decision Support System, Bundelkhand Zone, Efficiency, Primary School Education.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25641418 Neutrosophic Multiple Criteria Decision Making Analysis Method for Selecting Stealth Fighter Aircraft
Authors: C. Ardil
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In this paper, a neutrosophic multiple criteria decision analysis method is proposed to select stealth fighter aircraft. Neutrosophic multiple criteria decision analysis methods are used to analyze the neutrosophic environment and give results under uncertainty and incompleteness. Neutrosophic numbers are used to evaluate alternatives over a set of evaluation criteria in decision making problems. Finally, the proposed model is applied to a practical decision problem for selecting stealth fighter aircraft.
Keywords: neutrosophic sets, multiple criteria decision making analysis, stealth fighter aircraft, aircraft selection, MCDMA, SVNNs
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5901417 Multilevel Fuzzy Decision Support Model for China-s Urban Rail Transit Planning Schemes
Authors: Jin-Bao Zhao, Wei Deng
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This paper aims at developing a multilevel fuzzy decision support model for urban rail transit planning schemes in China under the background that China is presently experiencing an unprecedented construction of urban rail transit. In this study, an appropriate model using multilevel fuzzy comprehensive evaluation method is developed. In the decision process, the followings are considered as the influential objectives: traveler attraction, environment protection, project feasibility and operation. In addition, consistent matrix analysis method is used to determine the weights between objectives and the weights between the objectives- sub-indictors, which reduces the work caused by repeated establishment of the decision matrix on the basis of ensuring the consistency of decision matrix. The application results show that multilevel fuzzy decision model can perfectly deal with the multivariable and multilevel decision process, which is particularly useful in the resolution of multilevel decision-making problem of urban rail transit planning schemes.Keywords: Urban rail transit, planning schemes, multilevel fuzzy decision support model, consistent matrix analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 13181416 Standard Fuzzy Sets for Aircraft Selection using Multiple Criteria Decision Making Analysis
Authors: C. Ardil
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This study uses two-dimensional standard fuzzy sets to enhance multiple criteria decision-making analysis for passenger aircraft selection, allowing decision-makers to express judgments with uncertain and vague information. Using two-dimensional fuzzy numbers, three decision makers evaluated three aircraft alternatives according to seven decision criteria. A validity analysis based on two-dimensional standard fuzzy weighted geometric (SFWG) and two-dimensional standard fuzzy weighted average (SFGA) operators is conducted to test the proposed approach's robustness and effectiveness in the fuzzy multiple criteria decision making (MCDM) evaluation process.
Keywords: Standard fuzzy sets (SFSs), aircraft selection, multiple criteria decision making, intuitionistic fuzzy sets (IFSs), SFWG, SFGA, MCDM
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3911415 Value–based Group Decision on Support Bridge Selection
Authors: Christiono Utomo, Arazi Idrus
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Value-based group decision is very complicated since many parties involved. There are different concern caused by differing preferences, experiences, and background. Therefore, a support system is required to enable each stakeholder to evaluate and rank the solution alternatives before engaging into negotiation with the other stakeholders. The support system is based on combination between value-based analysis, multi criteria group decision making based on satisfying options, and negotiation process based on coalition formation. This paper presents the group decision and negotiation on the selection of suitable material for a support bridge structure involving three decision makers, who are an estate manager, a project manager, and an engineer. There are three alternative solutions for the material of the support bridge structure, which are (a1) steel structure, (a2) reinforced concrete structure and (a3) wooden structure.
Keywords: Value-based, group decision, negotiation support, construction.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16661414 A Study of the Effectiveness of the Routing Decision Support Algorithm
Authors: Wayne Goodridge, Alexander Nikov, Ashok Sahai
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Multi criteria decision making (MCDM) methods like analytic hierarchy process, ELECTRE and multi-attribute utility theory are critically studied. They have irregularities in terms of the reliability of ranking of the best alternatives. The Routing Decision Support (RDS) algorithm is trying to improve some of their deficiencies. This paper gives a mathematical verification that the RDS algorithm conforms to the test criteria for an effective MCDM method when a linear preference function is considered.
Keywords: Decision support systems, linear preference function, multi-criteria decision-making algorithm, analytic hierarchy process.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15821413 Functionality of Negotiation Agent on Value-based Design Decision
Authors: Arazi Idrus, Christiono Utomo
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This paper presents functionality of negotiation agent on value-based design decision. The functionality is based on the characteristics of the system and goal specification. A Prometheus Design Tool model was used for developing the system. Group functionality will be the attribute for negotiation agents, which comprises a coordinator agent and decision- maker agent. The results of the testing of the system to a building system selection on valuebased decision environment are also presented.Keywords: Functionality, negotiation agent, value-baseddecision
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14191412 Conceptualizing Thoughtful Intelligence for Sustainable Decision Making
Authors: Musarrat Jabeen
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Thoughtful intelligence offers a sustainable position to enhance the influence of decision-makers. Thoughtful Intelligence implies the understanding to realize the impact of one’s thoughts, words and actions on the survival, dignity and development of the individuals, groups and nations. Thoughtful intelligence has received minimal consideration in the area of Decision Support Systems, with an end goal to evaluate the quantity of knowledge and its viability. This pattern degraded the imbibed contribution of thoughtful intelligence required for sustainable decision making. Given the concern, this paper concentrates on the question: How to present a model of Thoughtful Decision Support System (TDSS)? The aim of this paper is to appreciate the concepts of thoughtful intelligence and insinuate a Decision Support System based on thoughtful intelligence. Thoughtful intelligence includes three dynamic competencies: i) Realization about long term impacts of decisions that are made in a specific time and space, ii) A great sense of taking actions, iii) Intense interconnectivity with people and nature and; seven associate competencies, of Righteousness, Purposefulness, Understanding, Contemplation, Sincerity, Mindfulness, and Nurturing. The study utilizes two methods: Focused group discussion to count prevailing Decision Support Systems; 70% results of focus group discussions found six decision support systems and the positive inexistence of thoughtful intelligence among decision support systems regarding sustainable decision making. Delphi focused on defining thoughtful intelligence to model (TDSS). 65% results helped to conceptualize (definition and description) of thoughtful intelligence. TDSS is offered here as an addition in the decision making literature. The clients are top leaders.
Keywords: Thoughtful intelligence, Sustainable decision making, Thoughtful decision support system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 5921411 Employing Operations Research at Universities to Build Management Systems
Authors: Abdallah A. Hlayel
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Operations research science (OR) deals with good success in developing and applying scientific methods for problem solving and decision-making. However, by using OR techniques, we can enhance the use of computer decision support systems to achieve optimal management for institutions. OR applies comprehensive analysis including all factors that effect on it and builds mathematical modeling to solve business or organizational problems. In addition, it improves decision-making and uses available resources efficiently. The adoption of OR by universities would definitely contributes to the development and enhancement of the performance of OR techniques. This paper provides an understanding of the structures, approaches and models of OR in problem solving and decisionmaking.
Keywords: Best candidates' method, decision making, decision support system, operations research.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19101410 Factors Affecting Employee Decision Making in an AI Environment
Authors: Yogesh C. Sharma, A. Seetharaman
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The decision-making process in humans is a complicated system influenced by a variety of intrinsic and extrinsic factors. Human decisions have a ripple effect on subsequent decisions. In this study, the scope of human decision making is limited to employees. In an organisation, a person makes a variety of decisions from the time they are hired to the time they retire. The goal of this research is to identify various elements that influence decision making. In addition, the environment in which a decision is made is a significant aspect of the decision-making process. Employees in today's workplace use artificial intelligence (AI) systems for automation and decision augmentation. The impact of AI systems on the decision-making process is examined in this study. This research is designed based on a systematic literature review. Based on gaps in the literature, limitations and the scope of future research have been identified. Based on these findings, a research framework has been designed to identify various factors affecting employee decision making. Employee decision making is influenced by technological advancement, data-driven culture, human trust, decision automation-augmentation and workplace motivation. Hybrid human-AI systems require development of new skill sets and organisational design. Employee psychological safety and supportive leadership influences overall job satisfaction.
Keywords: Employee decision making, artificial intelligence, environment, human trust, technology innovation, psychological safety.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 15831409 Defect Cause Modeling with Decision Tree and Regression Analysis
Authors: B. Bakır, İ. Batmaz, F. A. Güntürkün, İ. A. İpekçi, G. Köksal, N. E. Özdemirel
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The main aim of this study is to identify the most influential variables that cause defects on the items produced by a casting company located in Turkey. To this end, one of the items produced by the company with high defective percentage rates is selected. Two approaches-the regression analysis and decision treesare used to model the relationship between process parameters and defect types. Although logistic regression models failed, decision tree model gives meaningful results. Based on these results, it can be claimed that the decision tree approach is a promising technique for determining the most important process variables.Keywords: Casting industry, decision tree algorithm C5.0, logistic regression, quality improvement.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25171408 Fighter Aircraft Selection Using Neutrosophic Multiple Criteria Decision Making Analysis
Authors: C. Ardil
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Fuzzy set and intuitionistic fuzzy set are dealing with the imprecision and uncertainty inherent in a complex decision problem. However, sometimes these theories are not sufficient to model indeterminate and inconsistent information encountered in real-life problems. To overcome this insufficiency, the neutrosophic set, which is useful in practical applications, is proposed, triangular neutrosophic numbers and trapezoidal neutrosophic numbers are examined, their definitions and applications are discussed. In this study, a decision making algorithm is developed using neutrosophic set processes and an application is given in fighter aircraft selection as an example of a decision making problem. The estimation of the fighter aircraft selection with the neutrosophic multiple criteria decision analysis method is examined.
Keywords: neutrosophic set, multiple criteria decision making analysis, fighter aircraft selection, MCDMA, neutrosophic numbers
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9331407 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 25181406 Integrating Security Indifference Curve to Formal Decision Evaluation
Authors: Anon Yantarasri, Yachai Limpiyakorn
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Decisions are regularly made during a project or daily life. Some decisions are critical and have a direct impact on project or human success. Formal evaluation is thus required, especially for crucial decisions, to arrive at the optimal solution among alternatives to address issues. According to microeconomic theory, all people-s decisions can be modeled as indifference curves. The proposed approach supports formal analysis and decision by constructing indifference curve model from the previous experts- decision criteria. These knowledge embedded in the system can be reused or help naïve users select alternative solution of the similar problem. Moreover, the method is flexible to cope with unlimited number of factors influencing the decision-making. The preliminary experimental results of the alternative selection are accurately matched with the expert-s decisions.Keywords: Decision Analysis and Resolution, Indifference Curve, Multi-criteria Decision Making.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16191405 Decision Support for Modularization: Engineering Construction Case Studies
Authors: R. Monib, C. I. Goodier, A. Gibb
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This paper aims to investigate decision support strategies in the EC sector to determine the most appropriate degree of modularization. This is achieved through three oil and gas (O&G) and two power plant case studies via semi-structured interviews (n = 59 and n = 27, respectively), analysis of project documents, and case study-specific semi-structured validation interviews (n = 12 and n = 8). Terminology to distinguish degrees of modularization is proposed, along with a decision-making support checklist and a diagrammatic decision-making support figure. Results indicate that the EC sub-sectors were substantially more satisfied with the application of component, structural, or traditional modularization compared with system modularization for some types of modules. Key drivers for decisions on the degree of modularization vary across module types. This paper can help the EC sector determine the most suitable degree of modularization via a decision-making support strategy.
Keywords: Modularization, engineering construction, case study, decision support.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 991404 Facility Location Selection using Preference Programming
Authors: C. Ardil
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This paper presents preference programming technique based multiple criteria decision making analysis for selecting a facility location for a new organization or expansion of an existing facility which is of vital importance for a decision support system and strategic planning process. The implementation of decision support systems is considered crucial to sustain competitive advantage and profitability persistence in turbulent environment. As an effective strategic management and decision making is necessary, multiple criteria decision making analysis supports the decision makers to formulate and implement the right strategy. The investment cost associated with acquiring the property and facility construction makes the facility location selection problem a long-term strategic investment decision, which rationalize the best location selection which results in higher economic benefits through increased productivity and optimal distribution network. Selecting the proper facility location from a given set of alternatives is a difficult task, as many potential qualitative and quantitative multiple conflicting criteria are to be considered. This paper solves a facility location selection problem using preference programming, which is an effective multiple criteria decision making analysis tool applied to deal with complex decision problems in the operational research environment. The ranking results of preference programming are compared with WSM, TOPSIS and VIKOR methods.
Keywords: Facility Location Selection, Multiple Criteria Decision Making, Multiple Criteria Decision Making Analysis, Preference Programming, Location Selection, WSM, TOPSIS, VIKOR
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 539