Search results for: decision making
1463 Destination Decision Model for Cruising Taxis Based on Embedding Model
Authors: Kazuki Kamada, Haruka Yamashita
Abstract:
In Japan, taxi is one of the popular transportations and taxi industry is one of the big businesses. However, in recent years, there has been a difficult problem of reducing the number of taxi drivers. In the taxi business, mainly three passenger catching methods are applied. One style is "cruising" that drivers catches passengers while driving on a road. Second is "waiting" that waits passengers near by the places with many requirements for taxies such as entrances of hospitals, train stations. The third one is "dispatching" that is allocated based on the contact from the taxi company. Above all, the cruising taxi drivers need the experience and intuition for finding passengers, and it is difficult to decide "the destination for cruising". The strong recommendation system for the cruising taxies supports the new drivers to find passengers, and it can be the solution for the decreasing the number of drivers in the taxi industry. In this research, we propose a method of recommending a destination for cruising taxi drivers. On the other hand, as a machine learning technique, the embedding models that embed the high dimensional data to a low dimensional space is widely used for the data analysis, in order to represent the relationship of the meaning between the data clearly. Taxi drivers have their favorite courses based on their experiences, and the courses are different for each driver. We assume that the course of cruising taxies has meaning such as the course for finding business man passengers (go around the business area of the city of go to main stations) and course for finding traveler passengers (go around the sightseeing places or big hotels), and extract the meaning of their destinations. We analyze the cruising history data of taxis based on the embedding model and propose the recommendation system for passengers. Finally, we demonstrate the recommendation of destinations for cruising taxi drivers based on the real-world data analysis using proposing method.Keywords: Taxi industry, decision making, recommendation system, embedding model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4251462 A Simplified Adaptive Decision Feedback Equalization Technique for π/4-DQPSK Signals
Authors: V. Prapulla, A. Mitra, R. Bhattacharjee, S. Nandi
Abstract:
We present a simplified equalization technique for a π/4 differential quadrature phase shift keying ( π/4 -DQPSK) modulated signal in a multipath fading environment. The proposed equalizer is realized as a fractionally spaced adaptive decision feedback equalizer (FS-ADFE), employing exponential step-size least mean square (LMS) algorithm as the adaptation technique. The main advantage of the scheme stems from the usage of exponential step-size LMS algorithm in the equalizer, which achieves similar convergence behavior as that of a recursive least squares (RLS) algorithm with significantly reduced computational complexity. To investigate the finite-precision performance of the proposed equalizer along with the π/4 -DQPSK modem, the entire system is evaluated on a 16-bit fixed point digital signal processor (DSP) environment. The proposed scheme is found to be attractive even for those cases where equalization is to be performed within a restricted number of training samples.Keywords: Adaptive decision feedback equalizer, Fractionally spaced equalizer, π/4 DQPSK signal, Digital signal processor.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 57381461 A New Fuzzy Decision Support Method for Analysis of Economic Factors of Turkey's Construction Industry
Authors: R. Tur, A. Yardımcı
Abstract:
Imperfect knowledge cannot be avoided all the time. Imperfections may have several forms; uncertainties, imprecision and incompleteness. When we look to classification of methods for the management of imperfect knowledge we see fuzzy set-based techniques. The choice of a method to process data is linked to the choice of knowledge representation, which can be numerical, symbolic, logical or semantic and it depends on the nature of the problem to be solved for example decision support, which will be mentioned in our study. Fuzzy Logic is used for its ability to manage imprecise knowledge, but it can take advantage of the ability of neural networks to learn coefficients or functions. Such an association of methods is typical of so-called soft computing. In this study a new method was used for the management of imprecision for collected knowledge which related to economic analysis of construction industry in Turkey. Because of sudden changes occurring in economic factors decrease competition strength of construction companies. The better evaluation of these changes in economical factors in view of construction industry will made positive influence on company-s decisions which are dealing construction.
Keywords: Fuzzy logic, decision support systems, construction industry.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16371460 Decision Making about the Environmental Management Implementation – Incentives and Expectations
Authors: Eva Štěpánková
Abstract:
Environmental management implementation is presently one of the ways of organization success and value improvement. Increasing an organization motivation to environmental measures introduction is caused primarily by the rising pressure of the society that generates various incentives to endeavor for the environmental performance improvement. The aim of the paper is to identify and characterize the key incentives and expectations leading organizations to the environmental management implementation. The author focuses on five businesses of different size and field, operating in the Czech Republic. The qualitative approach and grounded theory procedure are used in research. The results point out that the significant incentives for environmental management implementation represent primarily demands of customers, the opportunity to declare the environmental commitment and image improvement. The researched enterprises less commonly expect the economical contribution, competitive advantage increase or export rate improvement. The results show that marketing contributions are primarily expected from the environmental management implementation.
Keywords: Environmental management, environmental management systems, ISO 14001.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 25451459 Fuzzy C-Means Clustering Algorithm for Voltage Stability in Large Power Systems
Authors: Mohamad R. Khaldi, Christine S. Khoury, Guy M. Naim
Abstract:
The steady-state operation of maintaining voltage stability is done by switching various controllers scattered all over the power network. When a contingency occurs, whether forced or unforced, the dispatcher is to alleviate the problem in a minimum time, cost, and effort. Persistent problem may lead to blackout. The dispatcher is to have the appropriate switching of controllers in terms of type, location, and size to remove the contingency and maintain voltage stability. Wrong switching may worsen the problem and that may lead to blackout. This work proposed and used a Fuzzy CMeans Clustering (FCMC) to assist the dispatcher in the decision making. The FCMC is used in the static voltage stability to map instantaneously a contingency to a set of controllers where the types, locations, and amount of switching are induced.Keywords: Fuzzy logic, Power system control, Reactive power control, Voltage control
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18881458 Scheduling a Flexible Flow Shops Problem using DEA
Authors: Fatemeh Dadkhah, Hossein Ali Akbarpour
Abstract:
This paper considers a scheduling problem in flexible flow shops environment with the aim of minimizing two important criteria including makespan and cumulative tardiness of jobs. Since the proposed problem is known as an Np-hard problem in literature, we have to develop a meta-heuristic to solve it. We considered general structure of Genetic Algorithm (GA) and developed a new version of that based on Data Envelopment Analysis (DEA). Two objective functions assumed as two different inputs for each Decision Making Unit (DMU). In this paper we focused on efficiency score of DMUs and efficient frontier concept in DEA technique. After introducing the method we defined two different scenarios with considering two types of mutation operator. Also we provided an experimental design with some computational results to show the performance of algorithm. The results show that the algorithm implements in a reasonable time.Keywords: Data envelopment analysis, Efficiency, Flexible flow shops, Genetic algorithm
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18181457 An Intelligent Optimization Model for Multi-objective Order Allocation Planning
Authors: W. K. Wong, Z. X. Guo, P.Y. Mok
Abstract:
This paper presents a multi-objective order allocation planning problem with the consideration of various real-world production features. A novel hybrid intelligent optimization model, integrating a multi-objective memetic optimization process, a Monte Carlo simulation technique and a heuristic pruning technique, is proposed to handle this problem. Experiments based on industrial data are conducted to validate the proposed model. Results show that (1) the proposed model can effectively solve the investigated problem by providing effective production decision-making solutions, which outperformsan NSGA-II-based optimization process and an industrial method.Keywords: Multi-objective order allocation planning, Pareto optimization, Memetic algorithm, Mento Carlo simulation
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16401456 Detecting Major Misconceptions about Employment in ICT: A Study of the Myths about ICT Work among Females
Authors: Eneli Kindsiko, Kulno Türk
Abstract:
The purpose of the current article is to reveal misconceptions about ICT occupations that keep females away from the field. The study focuses on the three phases in one’s career life cycle: pre-university, university and workplace with the aim of investigating how to attract more females into an ICT-related career. By studying nearly 300 secondary school graduates, 102 university students and 18 female ICT specialists, the study revealed six myths that influence the decision-making process of young girls in pursuing an ICT-related education and career. Furthermore, discriminating conception of ICT as a primarily man’s world is developed before the university period. Stereotypical barriers should be brought out to the public debate, so that a remarkable proportion of possible employees (women) would not stay away from the tech-related fields. Countries could make a remarkable leap in efficiency, when turning their attention to the gender-related issues in the labour market structure.Keywords: ICT, women, education, stereotypes, computers.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16411455 Decision Algorithm for Smart Airbag Deployment Safety Issues
Authors: Aini Hussain, M A Hannan, Azah Mohamed, Hilmi Sanusi, Burhanuddin Yeop Majlis
Abstract:
Airbag deployment has been known to be responsible for huge death, incidental injuries and broken bones due to low crash severity and wrong deployment decisions. Therefore, the authorities and industries have been looking for more innovative and intelligent products to be realized for future enhancements in the vehicle safety systems (VSSs). Although the VSSs technologies have advanced considerably, they still face challenges such as how to avoid unnecessary and untimely airbag deployments that can be hazardous and fatal. Currently, most of the existing airbag systems deploy without regard to occupant size and position. As such, this paper will focus on the occupant and crash sensing performances due to frontal collisions for the new breed of so called smart airbag systems. It intends to provide a thorough discussion relating to the occupancy detection, occupant size classification, occupant off-position detection to determine safe distance zone for airbag deployment, crash-severity analysis and airbag decision algorithms via a computer modeling. The proposed system model consists of three main modules namely, occupant sensing, crash severity analysis and decision fusion. The occupant sensing system module utilizes the weight sensor to determine occupancy, classify the occupant size, and determine occupant off-position condition to compute safe distance for airbag deployment. The crash severity analysis module is used to generate relevant information pertinent to airbag deployment decision. Outputs from these two modules are fused to the decision module for correct and efficient airbag deployment action. Computer modeling work is carried out using Simulink, Stateflow, SimMechanics and Virtual Reality toolboxes.Keywords: Crash severity analysis, occupant size classification, smart airbag, vehicle safety system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 41191454 Spatial Distribution and Risk Assessment of As, Hg, Co and Cr in Kaveh Industrial City, using Geostatistic and GIS
Authors: Abbas Hani
Abstract:
The concentrations of As, Hg, Co, Cr and Cd were tested for each soil sample, and their spatial patterns were analyzed by the semivariogram approach of geostatistics and geographical information system technology. Multivariate statistic approaches (principal component analysis and cluster analysis) were used to identify heavy metal sources and their spatial pattern. Principal component analysis coupled with correlation between heavy metals showed that primary inputs of As, Hg and Cd were due to anthropogenic while, Co, and Cr were associated with pedogenic factors. Ordinary kriging was carried out to map the spatial patters of heavy metals. The high pollution sources evaluated was related with usage of urban and industrial wastewater. The results of this study helpful for risk assessment of environmental pollution for decision making for industrial adjustment and remedy soil pollution.Keywords: Geographic Information system, Geostatistics, Kaveh, Multivariate Statistical Analysis.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19821453 Ensembling Classifiers – An Application toImage Data Classification from Cherenkov Telescope Experiment
Authors: Praveen Boinee, Alessandro De Angelis, Gian Luca Foresti
Abstract:
Ensemble learning algorithms such as AdaBoost and Bagging have been in active research and shown improvements in classification results for several benchmarking data sets with mainly decision trees as their base classifiers. In this paper we experiment to apply these Meta learning techniques with classifiers such as random forests, neural networks and support vector machines. The data sets are from MAGIC, a Cherenkov telescope experiment. The task is to classify gamma signals from overwhelmingly hadron and muon signals representing a rare class classification problem. We compare the individual classifiers with their ensemble counterparts and discuss the results. WEKA a wonderful tool for machine learning has been used for making the experiments.Keywords: Ensembles, WEKA, Neural networks [NN], SupportVector Machines [SVM], Random Forests [RF].
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 17651452 Design Optimization of Ferrocement-Laminated Plate Using Genetic Algorithm
Authors: M. Rokonuzzaman, Z. Gürdal
Abstract:
This paper describes the design optimization of ferrocement-laminated plate made up of reinforcing steel wire mesh(es) and cement mortar. For the improvement of the designing process, the plate is modeled as a multi-layer medium, dividing the ferrocement plate into layers of mortar and ferrocement. The mortar layers are assumed to be isotropic in nature and the ferrocement layers are assumed to be orthotropic. The ferrocement layers are little stiffer, but much more costlier, than the mortar layers due the presence of steel wire mesh. The optimization is performed for minimum weight design of the laminate using a genetic algorithm. The optimum designs are discussed for different plate configurations and loadings, and it is compared with the worst designs obtained at the final generation. The paper provides a procedure for the designers in decision-making process.
Keywords: Buckling, Ferrocement-Laminated Plate, Genetic Algorithm, Plate Theory.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 21881451 Multi-Agent System Architecture Oriented Prometheus Methodology Design for Reverse Logistics
Authors: F. Lhafiane, A. Elbyed, M. Bouchoum
Abstract:
The design of Reverse logistics Network has attracted growing attention with the stringent pressures from both environmental awareness and business sustainability. Reverse logistical activities include return, remanufacture, disassemble and dispose of products can be quite complex to manage. In addition, demand can be difficult to predict, and decision making is one of the challenges task in such network. This complexity has amplified the need to develop an integrated architecture for product return as an enterprise system. The main purpose of this paper is to design Multi Agent System (MAS) architecture using the Prometheus methodology to efficiently manage reverse logistics processes. The proposed MAS architecture includes five types of agents: Gate keeping Agent, Collection Agent, Sorting Agent, Processing Agent and Disposal Agent which act respectively during the five steps of reverse logistics Network.Keywords: Reverse logistics, multi agent system, Prometheus methodology.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29181450 Hybrid Anomaly Detection Using Decision Tree and Support Vector Machine
Authors: Elham Serkani, Hossein Gharaee Garakani, Naser Mohammadzadeh, Elaheh Vaezpour
Abstract:
Intrusion detection systems (IDS) are the main components of network security. These systems analyze the network events for intrusion detection. The design of an IDS is through the training of normal traffic data or attack. The methods of machine learning are the best ways to design IDSs. In the method presented in this article, the pruning algorithm of C5.0 decision tree is being used to reduce the features of traffic data used and training IDS by the least square vector algorithm (LS-SVM). Then, the remaining features are arranged according to the predictor importance criterion. The least important features are eliminated in the order. The remaining features of this stage, which have created the highest level of accuracy in LS-SVM, are selected as the final features. The features obtained, compared to other similar articles which have examined the selected features in the least squared support vector machine model, are better in the accuracy, true positive rate, and false positive. The results are tested by the UNSW-NB15 dataset.
Keywords: Intrusion detection system, decision tree, support vector machine, feature selection.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 12421449 Starting Pitcher Rotation in the Chinese Professional Baseball League based on AHP and TOPSIS
Authors: Chih-Cheng Chen, Meng-Lung Lin, Yung-Tan Lee, Tien-Tze Chen
Abstract:
The rotation of starting pitchers is a strategic issue which has a significant impact on the performance of a professional team. Choosing an optimal starting pitcher from among many alternatives is a multi-criteria decision-making (MCDM) problem. In this study, a model using the Analytic Hierarchy Process (AHP) and Technique for Order Performance by Similarity to the Ideal Solution (TOPSIS) is proposed with which to arrange the starting pitcher rotation for teams of the Chinese Professional Baseball League. The AHP is used to analyze the structure of the starting pitcher selection problem and to determine the weights of the criteria, while the TOPSIS method is used to make the final ranking. An empirical analysis is conducted to illustrate the utilization of the model for the starting pitcher rotation problem. The results demonstrate the effectiveness and feasibility of the proposed model.Keywords: AHP, TOPSIS, starting pitcher rotation, CPBL
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 23601448 A Multi-Agent Intelligent System for Monitoring Health Conditions of Elderly People
Authors: Ayman M. Mansour
Abstract:
In this paper, we propose a multi-agent intelligent system that is used for monitoring the health conditions of elderly people. Monitoring the health condition of elderly people is a complex problem that involves different medical units and requires continuous monitoring. Such expert system is highly needed in rural areas because of inadequate number of available specialized physicians or nurses. Such monitoring must have autonomous interactions between these medical units in order to be effective. A multi-agent system is formed by a community of agents that exchange information and proactively help one another to achieve the goal of elderly monitoring. The agents in the developed system are equipped with intelligent decision maker that arms them with the rule-based reasoning capability that can assist the physicians in making decisions regarding the medical condition of elderly people.
Keywords: Fuzzy Logic, Inference system, Monitoring system, Multi-agent system.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22851447 An Improved Limited Tolerance Rough Set Model
Authors: Chen Wu, Komal Narejo, Dandan Li
Abstract:
Some extended rough set models in incomplete information system cannot distinguish the two objects that have few known attributes and more unknown attributes; some cannot make a flexible and accurate discrimination. In order to solve this problem, this paper suggests an improved limited tolerance rough set model using two thresholds to control what two objects have a relationship between them in limited tolerance relation and to classify objects. Our practical study case shows the model can get fine and reasonable decision results.
Keywords: Decision rule, incomplete information system, limited tolerance relation, rough set model.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 11981446 A Hybrid Multi-Criteria Hotel Recommender System Using Explicit and Implicit Feedbacks
Authors: Ashkan Ebadi, Adam Krzyzak
Abstract:
Recommender systems, also known as recommender engines, have become an important research area and are now being applied in various fields. In addition, the techniques behind the recommender systems have been improved over the time. In general, such systems help users to find their required products or services (e.g. books, music) through analyzing and aggregating other users’ activities and behavior, mainly in form of reviews, and making the best recommendations. The recommendations can facilitate user’s decision making process. Despite the wide literature on the topic, using multiple data sources of different types as the input has not been widely studied. Recommender systems can benefit from the high availability of digital data to collect the input data of different types which implicitly or explicitly help the system to improve its accuracy. Moreover, most of the existing research in this area is based on single rating measures in which a single rating is used to link users to items. This paper proposes a highly accurate hotel recommender system, implemented in various layers. Using multi-aspect rating system and benefitting from large-scale data of different types, the recommender system suggests hotels that are personalized and tailored for the given user. The system employs natural language processing and topic modelling techniques to assess the sentiment of the users’ reviews and extract implicit features. The entire recommender engine contains multiple sub-systems, namely users clustering, matrix factorization module, and hybrid recommender system. Each sub-system contributes to the final composite set of recommendations through covering a specific aspect of the problem. The accuracy of the proposed recommender system has been tested intensively where the results confirm the high performance of the system.
Keywords: Tourism, hotel recommender system, hybrid, implicit features.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 19031445 Selecting Materialized Views Using Two-Phase Optimization with Multiple View Processing Plan
Authors: Jiratta Phuboon-ob, Raweewan Auepanwiriyakul
Abstract:
A data warehouse (DW) is a system which has value and role for decision-making by querying. Queries to DW are critical regarding to their complexity and length. They often access millions of tuples, and involve joins between relations and aggregations. Materialized views are able to provide the better performance for DW queries. However, these views have maintenance cost, so materialization of all views is not possible. An important challenge of DW environment is materialized view selection because we have to realize the trade-off between performance and view maintenance cost. Therefore, in this paper, we introduce a new approach aimed at solve this challenge based on Two-Phase Optimization (2PO), which is a combination of Simulated Annealing (SA) and Iterative Improvement (II), with the use of Multiple View Processing Plan (MVPP). Our experiments show that our method provides a further improvement in term of query processing cost and view maintenance cost.Keywords: Data warehouse, materialized views, view selectionproblem, two-phase optimization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16641444 Land Surface Temperature and Biophysical Factors in Urban Planning
Authors: Illyani Ibrahim, Azizan Abu Samah, Rosmadi Fauzi
Abstract:
Land surface temperature (LST) is an important parameter to study in urban climate. The understanding of the influence of biophysical factors could improve the establishment of modeling urban thermal landscape. It is well established that climate hold a great influence on the urban landscape. However, it has been recognize that climate has a low priority in urban planning process, due to the complex nature of its influence. This study will focus on the relatively cloud free Landsat Thematic Mapper image of the study area, acquired on the 2nd March 2006. Correlation analyses were conducted to identify the relationship of LST to the biophysical factors; vegetation indices, impervious surface, and albedo to investigate the variation of LST. We suggest that the results can be considered by the stackholders during decision-making process to create a cooler and comfortable environment in the urban landscape for city dwellers.Keywords: Biophysical factors, land surface temperature, urban planning.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 20881443 A Scenario Oriented Supplier Selection by Considering a Multi Tier Supplier Network
Authors: Mohammad Najafi Nobar, Bahareh Pourmehr, Mehdi Hajimirarab
Abstract:
One of the main processes of supply chain management is supplier selection process which its accurate implementation can dramatically increase company competitiveness. In presented article model developed based on the features of second tiers suppliers and four scenarios are predicted in order to help the decision maker (DM) in making up his/her mind. In addition two tiers of suppliers have been considered as a chain of suppliers. Then the proposed approach is solved by a method combined of concepts of fuzzy set theory (FST) and linear programming (LP) which has been nourished by real data extracted from an engineering design and supplying parts company. At the end results reveal the high importance of considering second tier suppliers features as criteria for selecting the best supplier.Keywords: Supply Chain Management (SCM), SupplierSelection, Second Tier Supplier, Scenario Planning, Green Factor, Linear Programming, Fuzzy Set Theory
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18081442 Interactive Compromise Approach with Particle Swarm Optimization for Environmental/Economic Power Dispatch
Authors: Ming-Tang Tsai, Chih-Wei Yen
Abstract:
In this paper, an Interactive Compromise Approach with Particle Swarm Optimization(ICA-PSO) is presented to solve the Economic Emission Dispatch(EED) problem. The cost function and emission function are modeled as the nonsmooth functions, respectively. The bi-objective including both the minimization of cost and emission is formulated in this paper. ICA-PSO is proposed to solve EED problem for finding a better compromise solution. The solution methodology can offer a global or near-global solution for decision-making requirements. The effectiveness and efficiency of ICA-PSO are demonstrated by a sample test system. Test results can be shown that the proposed method provide a practical and flexible framework for power dispatch.Keywords: Interactive Compromise Approach, Emission Control, Economic Dispatch, Particle Swarm Optimization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 14551441 Implied Adjusted Volatility by Leland Option Pricing Models: Evidence from Australian Index Options
Authors: Mimi Hafizah Abdullah, Hanani Farhah Harun, Nik Ruzni Nik Idris
Abstract:
With the implied volatility as an important factor in financial decision-making, in particular in option pricing valuation, and also the given fact that the pricing biases of Leland option pricing models and the implied volatility structure for the options are related, this study considers examining the implied adjusted volatility smile patterns and term structures in the S&P/ASX 200 index options using the different Leland option pricing models. The examination of the implied adjusted volatility smiles and term structures in the Australian index options market covers the global financial crisis in the mid-2007. The implied adjusted volatility was found to escalate approximately triple the rate prior the crisis.
Keywords: Implied adjusted volatility, Financial crisis, Leland option pricing models.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 29491440 Standardization and Adaption Requirements in Production System Transplants
Authors: G. Schuh, T. Potente, D. Kupke, S. Ivanescu
Abstract:
As German companies roll out their standardized production systems to offshore manufacturing plants, they face the challenge of implementing them in different cultural environments. Studies show that the local adaptation is one of the key factors for a successful implementation. Thus the question arises of where the line between standardization and adaptation can be drawn. To answer this question the influence of culture on production systems is analysed in this paper. The culturally contingent components of production systems are identified. Also the contingency factors are classified according to their impact on the necessary adaptation changes and implementation effort. Culturally specific decision making, coordination, communication and motivation patterns require one-time changes in organizational and process design. The attitude towards rules requires more intense coaching and controlling. Lastly a framework is developed to depict standardization and adaption needs when transplanting production systems into different cultural environments.Keywords: Culture, influence of national culture on production systems, lean production, production systems.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 18261439 eTransformation Framework for the Cognitive Systems
Authors: Ana Hol
Abstract:
Digital systems are in the Cognitive wave of the eTransformations and are now extensively aimed at meeting the individuals’ demands, both those of customers requiring services and those of service providers. It is also apparent that successful future systems will not just simply open doors to the traditional owners/users to offer and receive services such as Uber, for example, does today, but will in the future require more customized and cognitively enabled infrastructures that will be responsive to the system user’s needs. To be able to identify what is required for such systems this research reviews the historical and the current effects of the eTransformation process by studying: 1. eTransitions of company websites and mobile applications, 2. Emergence of new shared economy business models such as Uber, and 3. New requirements for demand driven, cognitive systems capable of learning and just-in-time decision-making. Based on the analysis, this study proposes a Cognitive eTransformation Framework capable of guiding implementations of new responsive and user aware systems.
Keywords: System implementations, AI supported systems, cognitive systems, eTransformation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 9551438 Customers’ Priority to Implement SSTs Using AHP Analysis
Authors: Mohammad Jafariahangari, Marjan Habibi, Miresmaeil Mirnabibaboli, Mirza Hassan Hosseini
Abstract:
Self-service technologies (SSTs) make an important contribution to the daily life of people nowadays. However, the introduction of SST does not lead to its usage. Thereby, this paper was an attempt on discovery of the most preferred SST in the customers’ point of view. To fulfill this aim, the Analytical Hierarchy Process (AHP) was applied based on Saaty’s questionnaire which was administered to the customers of e-banking services located in Golestan providence, northern Iran. This study used qualitative factors in association with the intention of consumers’ usage of SSTs to rank three SSTs: ATM, mobile banking and internet banking. The results showed that mobile banking get the highest weight in consumers’ point of view. This research can be useful both for managers and service providers and also for customers who intend to use e-banking.
Keywords: Analytical Hierarchy Process, Decision-making, Ebanking, Iran, Self-service technologies.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 22121437 Identification of an Appropriate Alternative Waste Technology for Energy Recovery from Waste through Multi-Criteria Analysis
Authors: Sharmina Begum, M. G. Rasul, Delwar Akbar
Abstract:
Waste management is now a global concern due to its high environmental impact on climate change. Because of generating huge amount of waste through our daily activities, managing waste in an efficient way has become more important than ever. Alternative Waste Technology (AWT), a new category of waste treatment technology has been developed for energy recovery in recent years to address this issue. AWT describes a technology that redirects waste away from landfill, recovers more useable resources from the waste flow and reduces the impact on the surroundings. Australia is one of the largest producers of waste per-capita. A number of AWTs are using in Australia to produce energy from waste. Presently, it is vital to identify an appropriate AWT to establish a sustainable waste management system in Australia. Identification of an appropriate AWT through Multi-criteria analysis (MCA) of four AWTs by using five key decision making criteria is presented and discussed in this paper.Keywords: Alternative waste technology (AWT), Energy fromwaste, Gasification, Multi-criteria Analysis (MCA)
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 16131436 Measurement Uncertainty Evaluation of Meteorological Model: CALMET
Authors: N. Miklavčič, U. Kugovnik, N. Galkina, P. Ribarič, R. Vončina
Abstract:
Today the need for weather predictions is deeply rooted in the everyday life of people as well as it is in industry. The forecasts influence final decision-making processes in multiple areas from agriculture and prevention of natural disasters to air traffic regulations and solutions on a national level for health, security, and economic problems. Namely in Slovenia, alongside other existing forms of application, weather forecasts are adopted for the prognosis of electrical current transmission through powerlines. Meteorological parameters are one of the key factors which need to be considered in estimations of the reliable supply of electrical energy to consumers. And like for any other measured value, the knowledge about measurement uncertainty is critical also for the secure and reliable supply of energy. The estimation of measurement uncertainty grants us a more accurate interpretation of data, a better quality of the end results, and even a possibility of improvement of weather forecast models.
Keywords: Measurement uncertainty, microscale meteorological model, CALMET meteorological station, orthogonal regression.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 661435 Design Patterns for Emergency Management Processes
Authors: Tomáš Ludík, Jiří Barta, Josef Navrátil
Abstract:
Natural or human made disasters have a significant negative impact on the environment. At the same time there is an extensive effort to support management and decision making in emergency situations by information technologies. Therefore the purpose of the paper is to propose a design patterns applicable in emergency management, enabling better analysis and design of emergency management processes and therefore easier development and deployment of information systems in the field of emergency management. It will be achieved by detailed analysis of existing emergency management legislation, contingency plans and information systems. The result is a set of design patterns focused at emergency management processes that enable easier design of emergency plans or development of new information system. These results will have a major impact on the development of new information systems as well as to more effective and faster solving of emergencies.
Keywords: Analysis and Design, Business Process Modeling Notation, Contingency Plans, Design Patterns, Emergency Management.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 31001434 Impact of Similarity Ratings on Human Judgement
Authors: Ian A. McCulloh, Madelaine Zinser, Jesse Patsolic, Michael Ramos
Abstract:
Recommender systems are a common artificial intelligence (AI) application. For any given input, a search system will return a rank-ordered list of similar items. As users review returned items, they must decide when to halt the search and either revise search terms or conclude their requirement is novel with no similar items in the database. We present a statistically designed experiment that investigates the impact of similarity ratings on human judgement to conclude a search item is novel and halt the search. In the study, 450 participants were recruited from Amazon Mechanical Turk to render judgement across 12 decision tasks. We find the inclusion of ratings increases the human perception that items are novel. Percent similarity increases novelty discernment when compared with star-rated similarity or the absence of a rating. Ratings reduce the time to decide and improve decision confidence. This suggests that the inclusion of similarity ratings can aid human decision-makers in knowledge search tasks.
Keywords: Ratings, rankings, crowdsourcing, empirical studies, user studies, similarity measures, human-centered computing, novelty in information retrieval.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 461