Search results for: selection method

Authors: Carlos Huertas, Reyes Juarez-Ramirez

Abstract:

Public health is one of the most critical issues today; therefore, there is great interest to improve technologies in the area of diseases detection. With machine learning and feature selection, it has been possible to aid the diagnosis of several diseases such as cancer. In this work, we present an extension to the Heat Map Based Feature Selection algorithm, this modification allows automatic threshold parameter selection that helps to improve the generalization performance of high dimensional data such as mass spectrometry. We have performed a comparison analysis using multiple cancer datasets and compare against the well known Recursive Feature Elimination algorithm and our original proposal, the results show improved classification performance that is very competitive against current techniques.

Keywords: Feature selection, mass spectrometry, biomarker discovery, cancer.

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Authors: Jin Xu, Albert Y.S. Lam, Victor O.K. Li

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Stock portfolio selection is a classic problem in finance, and it involves deciding how to allocate an institution-s or an individual-s wealth to a number of stocks, with certain investment objectives (return and risk). In this paper, we adopt the classical Markowitz mean-variance model and consider an additional common realistic constraint, namely, the cardinality constraint. Thus, stock portfolio optimization becomes a mixed-integer quadratic programming problem and it is difficult to be solved by exact optimization algorithms. Chemical Reaction Optimization (CRO), which mimics the molecular interactions in a chemical reaction process, is a population-based metaheuristic method. Two different types of CRO, named canonical CRO and Super Molecule-based CRO (S-CRO), are proposed to solve the stock portfolio selection problem. We test both canonical CRO and S-CRO on a benchmark and compare their performance under two criteria: Markowitz efficient frontier (Pareto frontier) and Sharpe ratio. Computational experiments suggest that S-CRO is promising in handling the stock portfolio optimization problem.

Keywords: Stock portfolio selection, Markowitz model, Chemical Reaction Optimization, Sharpe ratio

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Authors: Mohammad H. Almomani, Rosmanjawati Abdul Rahman

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In this paper, we consider the effect of the initial sample size on the performance of a sequential approach that used in selecting a good enough simulated system, when the number of alternatives is very large. We implement a sequential approach on M=M=1 queuing system under some parameter settings, with a different choice of the initial sample sizes to explore the impacts on the performance of this approach. The results show that the choice of the initial sample size does affect the performance of our selection approach.

Keywords: Ranking and Selection, Ordinal Optimization, Optimal Computing Budget Allocation, Subset Selection, Indifference-Zone, Initial Sample Size.

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Authors: Jyoti Dua

Abstract:

An algorithm is a well-defined procedure that takes some input in the form of some values, processes them and gives the desired output. It forms the basis of many other algorithms such as searching, pattern matching, digital filters etc., and other applications have been found in database systems, data statistics and processing, data communications and pattern matching. This paper introduces algorithmic “Enhanced Bidirectional Selection” sort which is bidirectional, stable. It is said to be bidirectional as it selects two values smallest from the front and largest from the rear and assigns them to their appropriate locations thus reducing the number of passes by half the total number of elements as compared to selection sort.

Keywords: Bubble sort, cocktail sort, selection sort, heap sort.

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Authors: Seong-Bae Park, Sang-Soo Kim, Sewook Oh, Zooyl Zeong, Hojin Lee, Seong Rae Park

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An ontology is widely used in many kinds of applications as a knowledge representation tool for domain knowledge. However, even though an ontology schema is well prepared by domain experts, it is tedious and cost-intensive to add instances into the ontology. The most confident and trust-worthy way to add instances into the ontology is to gather instances from tables in the related Web pages. In automatic populating of instances, the primary task is to find the most proper concept among all possible concepts within the ontology for a given table. This paper proposes a novel method for this problem by defining the similarity between the table and the concept using the overlap of their properties. According to a series of experiments, the proposed method achieves 76.98% of accuracy. This implies that the proposed method is a plausible way for automatic ontology population from Web tables.

Keywords: Ontology population, domain knowledge consolidation, target concept selection, property overlap.

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Authors: C. Ardil

Abstract:

This paper presents an original application of multiple criteria decision making analysis theory to the evaluation of aircraft selection problem. The selection of an optimal, efficient and reliable fleet, network and operations planning policy is one of the most important factors in aircraft selection problem. Given that decision making in aircraft selection involves the consideration of a number of opposite criteria and possible solutions, such a selection can be considered as a multiple criteria decision making analysis problem. This study presents a new integrated approach to decision making by considering the multiple criteria utility theory and the maximal regret minimization theory methods as well as aircraft technical, economical, and environmental aspects. Multiple criteria decision making analysis method uses different normalization techniques to allow criteria to be aggregated with qualitative and quantitative data of the decision problem. Therefore, selecting a suitable normalization technique for the model is also a challenge to provide data aggregation for the aircraft selection problem. To compare the impact of different normalization techniques on the decision problem, the vector, linear (sum), linear (max), and linear (max-min) data normalization techniques were identified to evaluate aircraft selection problem. As a logical implication of the proposed approach, it enhances the decision making process through enabling the decision maker to: (i) use higher level knowledge regarding the selection of criteria weights and the proposed technique, (ii) estimate the ranking of an alternative, under different data normalization techniques and integrated criteria weights after a posteriori analysis of the final rankings of alternatives. A set of commercial passenger aircraft were considered in order to illustrate the proposed approach. The obtained results of the proposed approach were compared using Spearman's rho tests. An analysis of the final rank stability with respect to the changes in criteria weights was also performed so as to assess the sensitivity of the alternative rankings obtained by the application of different data normalization techniques and the proposed approach.

Keywords: Normalization Techniques, Aircraft Selection, Multiple Criteria Decision Making, Multiple Criteria Decision Making Analysis, MCDMA

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Authors: Adtha Lawanna

Abstract:

Software maintenance is one of the essential processes of Software-Development Life Cycle. The main philosophies of retaining software concern the improvement of errors, the revision of codes, the inhibition of future errors, and the development in piece and capacity. While the adjustment has been employing, the software structure has to be retested to an upsurge a level of assurance that it will be prepared due to the requirements. According to this state, the test cases must be considered for challenging the revised modules and the whole software. A concept of resolving this problem is ongoing by regression test selection such as the retest-all selections, random/ad-hoc selection and the safe regression test selection. Particularly, the traditional techniques concern a mapping between the test cases in a test suite and the lines of code it executes. However, there are not only the lines of code as one of the requirements that can affect the size of test suite but including the number of functions and faulty versions. Therefore, a model for test case selection is developed to cover those three requirements by the integral technique which can produce the smaller size of the test cases when compared with the traditional regression selection techniques.

Keywords: Software maintenance, regression test selection, test case.

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Authors: Adtha Lawanna

Abstract:

Software maintenance is one of the essential processes of Software-Development Life Cycle. The main philosophies of retaining software concern the improvement of errors, the revision of codes, the inhibition of future errors, and the development in piece and capacity. While the adjustment has been employing, the software structure has to be retested to an upsurge a level of assurance that it will be prepared due to the requirements. According to this state, the test cases must be considered for challenging the revised modules and the whole software. A concept of resolving this problem is ongoing by regression test selection such as the retest-all selections, random/ad-hoc selection and the safe regression test selection. Particularly, the traditional techniques concern a mapping between the test cases in a test suite and the lines of code it executes. However, there are not only the lines of code as one of the requirements that can affect the size of test suite but including the number of functions and faulty versions. Therefore, a model for test case selection is developed to cover those three requirements by the integral technique which can produce the smaller size of the test cases when compared with the traditional regression selection techniques.

Keywords: Software maintenance, regression test selection, test case.

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Authors: Hassan Haghighi, Omid Mafi

Abstract:

Existing experiences indicate that one of the most prominent reasons that some ERP implementations fail is related to selecting an improper ERP package. Among those important factors resulting in inappropriate ERP selections, one is to ignore preliminary activities that should be done before the evaluation of ERP packages. Another factor yielding these unsuitable selections is that usually organizations employ prolonged and costly selection processes in such extent that sometimes the process would never be finalized or sometimes the evaluation team might perform many key final activities in an incomplete or inaccurate way due to exhaustion, lack of interest or out-of-date data. In this paper, a systematic approach that recommends some activities to be done before and after the main selection phase is introduced for choosing an ERP package. On the other hand, the proposed approach has utilized some ideas that accelerates the selection process at the same time that reduces the probability of an erroneous final selection.

Keywords: enterprise resource planning, evaluation and selectionof ERP packages, organizational readiness for employing ERP, evaluationlists.

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Authors: Niousha Bagheri Khulenjani, Mohammad Saniee Abadeh

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Learning from very big datasets is a significant problem for most present data mining and machine learning algorithms. MicroRNA (miRNA) is one of the important big genomic and non-coding datasets presenting the genome sequences. In this paper, a hybrid method for the classification of the miRNA data is proposed. Due to the variety of cancers and high number of genes, analyzing the miRNA dataset has been a challenging problem for researchers. The number of features corresponding to the number of samples is high and the data suffer from being imbalanced. The feature selection method has been used to select features having more ability to distinguish classes and eliminating obscures features. Afterward, a Convolutional Neural Network (CNN) classifier for classification of cancer types is utilized, which employs a Genetic Algorithm to highlight optimized hyper-parameters of CNN. In order to make the process of classification by CNN faster, Graphics Processing Unit (GPU) is recommended for calculating the mathematic equation in a parallel way. The proposed method is tested on a real-world dataset with 8,129 patients, 29 different types of tumors, and 1,046 miRNA biomarkers, taken from The Cancer Genome Atlas (TCGA) database.

Keywords: Cancer classification, feature selection, deep learning, genetic algorithm.

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Authors: Ahmed Al-Ani

Abstract:

Feature selection is an important step in many pattern classification problems. It is applied to select a subset of features, from a much larger set, such that the selected subset is sufficient to perform the classification task. Due to its importance, the problem of feature selection has been investigated by many researchers. In this paper, a novel feature subset search procedure that utilizes the Ant Colony Optimization (ACO) is presented. The ACO is a metaheuristic inspired by the behavior of real ants in their search for the shortest paths to food sources. It looks for optimal solutions by considering both local heuristics and previous knowledge. When applied to two different classification problems, the proposed algorithm achieved very promising results.

Keywords: Ant Colony Optimization, ant systems, feature selection, pattern recognition.

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Authors: C. Ardil

Abstract:

This paper aims to select the best military attack helicopter to purchase by the Armed Forces and provide greater reconnaissance and offensive combat capability in military operations. For this purpose, a multiple criteria decision analysis method integrated with the variance weight procedure was applied to the military attack helicopter selection problem. A real military aviation case problem is conducted to support the Armed Forces decision-making process and contributes to the better performance of the Armed Forces. Application of the methodology resulted in ranking lists for ordering and prioritizing attack helicopters, providing transparency and simplicity to the decision-making process. Nine military attack helicopter models were analyzed in the light of strategic, tactical, and operational criteria, considering attack helicopters. The selected military attack helicopter would be used for fire support and reconnaissance activities required by the Armed Forces operation. This study makes a valuable contribution to the problem of military attack helicopter selection, as it represents a state-of-the-art application of the MCDMA method to contribute to the solution of a real problem of the Armed Forces. The methodology presented in this paper can be used to solve real problems of a wide variety, especially strategic, tactical and operational, and is, therefore, a very useful method for decision making.

Keywords: aircraft selection, military attack helicopter selection, attack helicopter fleet planning, MCDMA, multiple criteria analysis, multiple criteria decision making analysis, distance function measure

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Authors: J. Cheeneebash, K. B. Lallmamode, A. Gopaul

Abstract:

Throughout this paper, a relatively new technique, the Tabu search variable selection model, is elaborated showing how it can be efficiently applied within the financial world whenever researchers come across the selection of a subset of variables from a whole set of descriptive variables under analysis. In the field of financial prediction, researchers often have to select a subset of variables from a larger set to solve different type of problems such as corporate bankruptcy prediction, personal bankruptcy prediction, mortgage, credit scoring and the Arbitrage Pricing Model (APM). Consequently, to demonstrate how the method operates and to illustrate its usefulness as well as its superiority compared to other commonly used methods, the Tabu search algorithm for variable selection is compared to two main alternative search procedures namely, the stepwise regression and the maximum R 2 improvement method. The Tabu search is then implemented in finance; where it attempts to predict corporate bankruptcy by selecting the most appropriate financial ratios and thus creating its own prediction score equation. In comparison to other methods, mostly the Altman Z-Score model, the Tabu search model produces a higher success rate in predicting correctly the failure of firms or the continuous running of existing entities.

Keywords: Predicting Bankruptcy, Tabu Search

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Authors: Younies Mahmoud, Mai Mabrouk, Elsayed Sallam

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Analyzing DNA microarray data sets is a great challenge, which faces the bioinformaticians due to the complication of using statistical and machine learning techniques. The challenge will be doubled if the microarray data sets contain missing data, which happens regularly because these techniques cannot deal with missing data. One of the most important data analysis process on the microarray data set is feature selection. This process finds the most important genes that affect certain disease. In this paper, we introduce a technique for imputing the missing data in microarray data sets while performing feature selection.

Keywords: DNA microarray, feature selection, missing data, bioinformatics.

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Authors: C. Ardil

Abstract:

In this paper, the comparison of composite programming and compromise programming for the aircraft selection problem is discussed using the multiple criteria decision analysis method. The decision making process requires the prior definition and fulfillment of certain factors, especially when it comes to complex areas such as aircraft selection problems. The proposed technique gives more efficient results by extending the composite programming and compromise programming, which are widely used in modeling multiple criteria decisions. The proposed model is applied to a practical decision problem for evaluating and selecting aircraft problems.A selection of aircraft was made based on the proposed approach developed in the field of multiple criteria decision making. The model presented is solved by using the following methods: composite programming, and compromise programming. The importance values of the weight coefficients of the criteria are calculated using the mean weight method. The evaluation and ranking of aircraft are carried out using the composite programming and compromise programming methods. In order to determine the stability of the model and the ability to apply the developed composite programming and compromise programming approach, the paper analyzes its sensitivity, which involves changing the value of the coefficient λ and q in the first part. The second part of the sensitivity analysis relates to the application of different multiple criteria decision making methods, composite programming and compromise programming. In addition, in the third part of the sensitivity analysis, the Spearman correlation coefficient of the ranks obtained was calculated which confirms the applicability of all the proposed approaches.

Keywords: composite programming, compromise programming, additive weighted model, multiplicative weighted model, multiple criteria decision making analysis, MCDMA, aircraft selection

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Authors: C. Ardil

Abstract:

The decision to select an unmanned combat aircraft is complicated since several options and conflicting criteria must be considered at simultaneously. When making multiple criteria decision, it is important to consider the selected evaluation criteria, including priceability, payloadability, stealthability, speedability , and survivability. The fundamental goal of the study is to select the best unmanned combat aircraft by taking these evaluation criteria into account. The optimal aircraft was chosen using the fuzzy proximity measure method, which enables decision-makers to designate preferences as standard fuzzy set numbers during the multiple criteria decision-making process. To assess the applicability of the proposed approach, a numerical example is provided. Finally, by comparing determined unmanned combat aircraft, the proposed method produced a successful application, and the best aircraft was selected.

Keywords: standard fuzzy sets (SFS), unmanned combat aircraft selection, multiple criteria decision making (MCDM), multiple criteria group decision making (MCGDM), proximity measure method (PMM)

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Authors: Gülcin Büyüközkan, Mehmet Sakir Ersoy

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The decision of information technology (IT) outsourcing requires close attention to the evaluation of supplier selection process because the selection decision involves conflicting multiple criteria and is replete with complex decision making problems. Selecting the most appropriate suppliers is considered an important strategic decision that may impact the performance of outsourcing engagements. The objective of this paper is to aid decision makers to evaluate and assess possible IT outsourcing suppliers. An axiomatic design based fuzzy group decision making is adopted to evaluate supplier alternatives. Finally, a case study is given to demonstrate the potential of the methodology. KeywordsIT outsourcing, Supplier selection, Multi-criteria decision making, Axiomatic design, Fuzzy logic.

Keywords: IT outsourcing, Supplier selection, Multi-criteria decision making, Axiomatic design, Fuzzy logic

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Authors: Huai-Feng Wang, Meng-Lin Lou, Ru-Lin Zhang

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One good analysis method in seismic response analysis is direct time integration, which widely adopts Rayleigh damping. An approach is presented for selection of Rayleigh damping coefficients to be used in seismic analyses to produce a response that is consistent with Modal damping response. In the presented approach, the expression of the error of peak response, acquired through complete quadratic combination method, and Rayleigh damping coefficients was set up and then the coefficients were produced by minimizing the error. Two finite element modes of soil layers, excited by 28 seismic waves, were used to demonstrate the feasibility and validity.

Keywords: Rayleigh damping, modal damping, damping coefficients, seismic response analysis.

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Authors: Rohit Gupta, Ravinder Agarwal

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Surface electromyographic (sEMG) signal has the potential to identify the human activities and intention. This potential is further exploited to control the artificial limbs using the sEMG signal from residual limbs of amputees. The paper deals with the development of multichannel cost efficient sEMG signal interface for research application, along with evaluation of proposed class dependent statistical approach of the feature selection method. The sEMG signal acquisition interface was developed using ADS1298 of Texas Instruments, which is a front-end interface integrated circuit for ECG application. Further, the sEMG signal is recorded from two lower limb muscles for three locomotions namely: Plane Walk (PW), Stair Ascending (SA), Stair Descending (SD). A class dependent statistical approach is proposed for feature selection and also its performance is compared with 12 preexisting feature vectors. To make the study more extensive, performance of five different types of classifiers are compared. The outcome of the current piece of work proves the suitability of the proposed feature selection algorithm for locomotion recognition, as compared to other existing feature vectors. The SVM Classifier is found as the outperformed classifier among compared classifiers with an average recognition accuracy of 97.40%. Feature vector selection emerges as the most dominant factor affecting the classification performance as it holds 51.51% of the total variance in classification accuracy. The results demonstrate the potentials of the developed sEMG signal acquisition interface along with the proposed feature selection algorithm.

Keywords: Classifiers, feature selection, locomotion, sEMG.

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Authors: F. Iscan, C. Yagci

Abstract:

Rapid population growth, urbanization and industrialization are known as the most important factors of environment problems. Elimination and management of solid wastes are also within the most important environment problems. One of the main problems in solid waste management is the selection of the best site for elimination of solid wastes. Lately, Geographical Information System (GIS) has been used for easing selection of landfill area. GIS has the ability of imitating necessary economic, environmental and political limitations. They play an important role for the site selection of landfill area as a decision support tool. In this study; map layers will be studied for minimum effect of environmental, social and cultural factors and maximum effect for engineering/economic factors for site selection of landfill areas and using GIS for a decision support mechanism in solid waste landfill areas site selection will be presented in Aksaray/Turkey city, Güzelyurt district practice.

Keywords: GIS, landfill, solid waste, spatial analysis.

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Authors: O. Kadri, M. D. Mouss, L.H. Mouss, F. Merah

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This paper proposes a novel hybrid algorithm for feature selection based on a binary ant colony and SVM. The final subset selection is attained through the elimination of the features that produce noise or, are strictly correlated with other already selected features. Our algorithm can improve classification accuracy with a small and appropriate feature subset. Proposed algorithm is easily implemented and because of use of a simple filter in that, its computational complexity is very low. The performance of the proposed algorithm is evaluated through a real Rotary Cement kiln dataset. The results show that our algorithm outperforms existing algorithms.

Keywords: Binary Ant Colony algorithm, Support VectorMachine, feature selection, classification.

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Authors: Paulo Fernando Silva Filho, Elcio Hideiti Shiguemori

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The selection of specific landmarks for an Unmanned Aerial Vehicles’ Visual Navigation systems based on Automatic Landmark Recognition has significant influence on the precision of the system’s estimated position. At the same time, manual selection of the landmarks does not guarantee a high recognition rate, which would also result on a poor precision. This work aims to develop an automatic landmark selection that will take the image of the flight area and identify the best landmarks to be recognized by the Visual Navigation Landmark Recognition System. The criterion to select a landmark is based on features detected by ORB or AKAZE and edges information on each possible landmark. Results have shown that disposition of possible landmarks is quite different from the human perception.

Keywords: Clustering, edges, feature points, landmark selection, X-Means.

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Authors: Othoman Elsayah, Naren Gupta, Binsheng Zhang

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The construction sector constitutes one of the most important sectors in the economy of any country. Contractor selection is a critical decision that is undertaken by client organizations and is central to the success of any construction project. Contractor selection (CS) is a process which involves investigating, screening and determining whether candidate contractors have the technical and financial capability to be accepted to formally tender for construction work. The process should be conducted prior to the award of contract, characterized by many factors such as: contactor’s skills, experience on similar projects, track- record in the industry, and financial stability. However, this paper evaluates the current state of knowledge in relation to contractor selection process and demonstrates the findings from the analysis of the data collected from the Delphi questionnaire survey. The survey was conducted with a group of 12 experts working in the Libyan construction industry (LCI). The paper starts by briefly explaining the general outline of the questionnaire including the survey participation rate, the different fields the experts came from, and the business titles of the participants. Then the paper describes the tests used to determine when the experts had reached consensus. The paper is based on research which aims to develop rank contractor selection criteria with specific application to make construction projects in the Libyan context. The findings of this study will be utilized to establish the scope of work that will be used as part of a PhD research.

Keywords: Contractor selection, Libyan construction industry, Decision experts and Delphi technique.

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Authors: Walid S. Abd El-hamid, Sherif S. El-Etriby, Mohiy M. Hadhoud

Abstract:

Regression testing is a maintenance activity applied to modified software to provide confidence that the changed parts are correct and that the unchanged parts have not been adversely affected by the modifications. Regression test selection techniques reduce the cost of regression testing, by selecting a subset of an existing test suite to use in retesting modified programs. This paper presents the first general regression-test-selection technique, which based on code and allows selecting test cases for any programs written in any programming language. Then it handles incomplete program. We also describe RTSDiff, a regression-test-selection system that implements the proposed technique. The results of the empirical studied that performed in four programming languages java, C#, Cµ and Visual basic show that the efficiency and effective in reducing the size of test suit.

Keywords: Regression testing, testing, test selection, softwareevolution, software maintenance.

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Authors: Liping Jing, Michael K. Ng, Tieyong Zeng

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Microarray data profiles gene expression on a whole genome scale, therefore, it provides a good way to study associations between gene expression and occurrence or progression of cancer. More and more researchers realized that microarray data is helpful to predict cancer sample. However, the high dimension of gene expressions is much larger than the sample size, which makes this task very difficult. Therefore, how to identify the significant genes causing cancer becomes emergency and also a hot and hard research topic. Many feature selection algorithms have been proposed in the past focusing on improving cancer predictive accuracy at the expense of ignoring the correlations between the features. In this work, a novel framework (named by SGS) is presented for stable gene selection and efficient cancer prediction . The proposed framework first performs clustering algorithm to find the gene groups where genes in each group have higher correlation coefficient, and then selects the significant genes in each group with Bayesian Lasso and important gene groups with group Lasso, and finally builds prediction model based on the shrinkage gene space with efficient classification algorithm (such as, SVM, 1NN, Regression and etc.). Experiment results on real world data show that the proposed framework often outperforms the existing feature selection and prediction methods, say SAM, IG and Lasso-type prediction model.

Keywords: Gene Selection, Cancer Prediction, Lasso, Clustering, Classification.

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Authors: José M. Merigó, Anna M. Gil-Lafuente

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We study the possibility of using geometric operators in the selection of human resources. We develop three new methods that use the ordered weighted geometric (OWG) operator in different indexes used for the selection of human resources. The objective of these models is to manipulate the neutrality of the old methods so the decision maker is able to select human resources according to his particular attitude. In order to develop these models, first a short revision of the OWG operator is developed. Second, we briefly explain the general process for the selection of human resources. Then, we develop the three new indexes. They will use the OWG operator in the Hamming distance, in the adequacy coefficient and in the index of maximum and minimum level. Finally, an illustrative example about the new approach is given.

Keywords: OWG operator, decision making, human resources, Hamming distance.

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Authors: I. Falconett, K. Nagasaka

Abstract:

This study investigates the performance of radial basis function networks (RBFN) in forecasting the monthly CO2 emissions of an electric power utility. We also propose a method for input variable selection. This method is based on identifying the general relationships between groups of input candidates and the output. The effect that each input has on the forecasting error is examined by removing all inputs except the variable to be investigated from its group, calculating the networks parameter and performing the forecast. Finally, the new forecasting error is compared with the reference model. Eight input variables were identified as the most relevant, which is significantly less than our reference model with 30 input variables. The simulation results demonstrate that the model with the 8 inputs selected using the method introduced in this study performs as accurate as the reference model, while also being the most parsimonious.

Keywords: Correlation analysis, CO2 emissions forecasting, electric power utility, radial basis function networks.

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Authors: C. Ardil

Abstract:

A multiple-criteria decision support system is proposed for the best aircraft selection decision. Various strategic, economic, environmental, and risk-related factors can directly or indirectly influence this choice, and they should be taken into account in the decision-making process. The paper suggests a multiple-criteria analysis to aid in the airline management's decision-making process when choosing an appropriate aircraft. In terms of the suggested approach, an integrated entropic preference optimization programming (POP) for fleet modeling risk analysis is applied. The findings of the study of multiple criteria analysis indicate that the A321(neo) aircraft type is the best alternative in this particular optimization instance. The proposed methodology can be applied to other complex engineering problems involving multiple criteria analysis.

Keywords: Aircraft selection, decision making, multiple criteria decision making, preference optimization programming, POP, entropic weight method, TOPSIS, WSM, WPM

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Authors: Konstantinos Liagkouras, Konstantinos Metaxiotis

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In this paper we present a classification of the various technologies applied for the solution of the portfolio selection problem according to the discipline and the methodological framework followed. We provide a concise presentation of the emerged categories and we are trying to identify which methods considered obsolete and which lie at the heart of the debate. On top of that, we provide a comparative study of the different technologies applied for efficient portfolio construction and we suggest potential paths for future work that lie at the intersection of the presented techniques.

Keywords: Portfolio selection, optimization techniques, financial models, stochastics, heuristics.

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Authors: C. Ardil

Abstract:

This article presents a multiple criteria evaluation for a trainer aircraft selection problem using "preference analysis for reference ideal solution (PARIS)” approach. The available relevant literature points to the use of multiple criteria decision making analysis (MCDMA) methods for the problem of trainer aircraft selection, which often involves conflicting multiple criteria. Therefore, this MCDMA study aims to propose a robust systematic integrated framework focusing on the trainer aircraft selection problem. For this purpose, an integrated preference analysis approach based the mean weight and entropy weight procedures with PARIS, and TOPSIS was used for a MCDMA compensating solution. In this study, six trainer aircraft alternatives were evaluated according to six technical decision criteria, and data were collected from the current relevant literature. As a result, the King Air C90GTi alternative was identified as the most suitable trainer aircraft alternative. In order to verify the stability and accuracy of the results obtained, comparisons were made with existing MCDMA methods during the sensitivity and validity analysis process.The results of the application were further validated by applying the comparative analysis-based PARIS, and TOPSIS method. The proposed integrated MCDMA systematic structure is also expected to address the issues encountered in the aircraft selection process. Finally, the analysis results obtained show that the proposed MCDMA method is an effective and accurate tool that can help analysts make better decisions.

Keywords: aircraft, trainer aircraft selection, multiple criteria decision making, multiple criteria decision making analysis, mean weight, entropy weight, MCDMA, PARIS, TOPSIS

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