Search results for: decisions under uncertainty
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 774

Search results for: decisions under uncertainty

654 Fuzzy Based Particle Swarm Optimization Routing Technique for Load Balancing in Wireless Sensor Networks

Authors: S. Balaji, E. Golden Julie, M. Rajaram, Y. Harold Robinson

Abstract:

Network lifetime improvement and uncertainty in multiple systems are the issues of wireless sensor network routing. This paper presents fuzzy based particle swarm optimization routing technique to improve the network scalability. Significantly, in the cluster formation procedure, fuzzy based system is used to solve the uncertainty and network balancing. Cluster heads play an important role to reduce the energy consumption using particle swarm optimization algorithm, the cluster head sends its information along data packets to the heads with link. The simulation results show that the presented routing protocol can perform load balancing effectively and reduce the energy consumption of cluster heads.

Keywords: Wireless sensor networks, fuzzy logic, PSO, LEACH.

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653 Uncertainty of the Brazilian Earth System Model for Solar Radiation

Authors: Elison Eduardo Jardim Bierhals, Claudineia Brazil, Deivid Pires, Rafael Haag, Elton Gimenez Rossini

Abstract:

This study evaluated the uncertainties involved in the solar radiation projections generated by the Brazilian Earth System Model (BESM) of the Weather and Climate Prediction Center (CPTEC) belonging to Coupled Model Intercomparison Phase 5 (CMIP5), with the aim of identifying efficiency in the projections for solar radiation of said model and in this way establish the viability of its use. Two different scenarios elaborated by Intergovernmental Panel on Climate Change (IPCC) were evaluated: RCP 4.5 (with more optimistic contour conditions) and 8.5 (with more pessimistic initial conditions). The method used to verify the accuracy of the present model was the Nash coefficient and the Statistical bias, as it better represents these atmospheric patterns. The BESM showed a tendency to overestimate the data ​​of solar radiation projections in most regions of the state of Rio Grande do Sul and through the validation methods adopted by this study, BESM did not present a satisfactory accuracy.

Keywords: Climate changes, projections, solar radiation, uncertainty.

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652 A New Approach of Fuzzy Methods for Evaluating of Hydrological Data

Authors: Nasser Shamskia, Seyyed Habib Rahmati, Hassan Haleh , Seyyedeh Hoda Rahmati

Abstract:

The main criteria of designing in the most hydraulic constructions essentially are based on runoff or discharge of water. Two of those important criteria are runoff and return period. Mostly, these measures are calculated or estimated by stochastic data. Another feature in hydrological data is their impreciseness. Therefore, in order to deal with uncertainty and impreciseness, based on Buckley-s estimation method, a new fuzzy method of evaluating hydrological measures are developed. The method introduces triangular shape fuzzy numbers for different measures in which both of the uncertainty and impreciseness concepts are considered. Besides, since another important consideration in most of the hydrological studies is comparison of a measure during different months or years, a new fuzzy method which is consistent with special form of proposed fuzzy numbers, is also developed. Finally, to illustrate the methods more explicitly, the two algorithms are tested on one simple example and a real case study.

Keywords: Fuzzy Discharge, Fuzzy estimation, Fuzzy ranking method, Hydrological data

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651 The Application of Learning Systems to Support Decision for Stakeholder and Infrastructures Managers Based On Crowdsourcing

Authors: Alfonso Bastías, Álvaro González

Abstract:

The actual grow of the infrastructure in develop country require sophisticate ways manage the operation and control the quality served. This research wants to concentrate in the operation of this infrastructure beyond the construction. The infrastructure-s operation involves an uncertain environment, where unexpected variables are present every day and everywhere. Decision makers need to make right decisions with right information/data analyzed most in real time. To adequately support their decisions and decrease any negative impact and collateral effect, they need to use computational tools called decision support systems (DSS), but now the main source of information came from common users thought an extensive crowdsourcing

Keywords: Crowdsourcing, Learning Systems, Decision Support Systems, Infrastructure, Construction.

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650 Improving the Quality of Transport Management Services with Fuzzy Signatures

Authors: Csaba I. Hencz, István Á. Harmati

Abstract:

Nowadays the significance of road transport is gradually increasing. All transport companies are working in the same external environment where the speed of transport is defined by traffic rules. The main objective is to accelerate the speed of service and it is only dependent on the individual abilities of the managing members. These operational control units make decisions quickly (in a typically experiential and/or intuitive way). For this reason, support for these decisions is an important task. Our goal is to create a decision support model based on fuzzy signatures that can assist the work of operational management automatically. If the model sets parameters properly, the management of transport could be more economical and efficient.

Keywords: Freight transport, decision support, information handling, fuzzy methods.

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649 The Use of Dynamically Optimised High Frequency Moving Average Strategies for Intraday Trading

Authors: Abdalla Kablan, Joseph Falzon

Abstract:

This paper is motivated by the aspect of uncertainty in financial decision making, and how artificial intelligence and soft computing, with its uncertainty reducing aspects can be used for algorithmic trading applications that trade in high frequency. This paper presents an optimized high frequency trading system that has been combined with various moving averages to produce a hybrid system that outperforms trading systems that rely solely on moving averages. The paper optimizes an adaptive neuro-fuzzy inference system that takes both the price and its moving average as input, learns to predict price movements from training data consisting of intraday data, dynamically switches between the best performing moving averages, and performs decision making of when to buy or sell a certain currency in high frequency.

Keywords: Financial decision making, High frequency trading, Adaprive neuro-fuzzy systems, moving average strategy.

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648 Mechanical Structure Design Optimization by Blind Number Theory: Time-dependent Reliability

Authors: Zakari Yaou, Lirong Cui

Abstract:

In a product development process, understanding the functional behavior of the system, the role of components in achieving functions and failure modes if components/subsystem fails its required function will help develop appropriate design validation and verification program for reliability assessment. The integration of these three issues will help design and reliability engineers in identifying weak spots in design and planning future actions and testing program. This case study demonstrate the advantage of unascertained theory described in the subjective cognition uncertainty, and then applies blind number (BN) theory in describing the uncertainty of the mechanical system failure process and the same time used the same theory in bringing out another mechanical reliability system model. The practical calculations shows the BN Model embodied the characters of simply, small account of calculation but betterforecasting capability, which had the value of macroscopic discussion to some extent.

Keywords: Mechanical structure Design, time-dependent stochastic process, unascertained information, blind number theory.

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647 Low Air Velocity Measurement Characteristics- Variation Due to Flow Regime

Authors: A. Pedišius, V. Janušas, A. Bertašienė

Abstract:

The paper depicts air velocity values, reproduced by laser Doppler anemometer (LDA) and ultrasonic anemometer (UA), relations with calculated ones from flow rate measurements using the gas meter which calibration uncertainty is ± (0.15 – 0.30) %. Investigation had been performed in channel installed in aerodynamical facility used as a part of national standard of air velocity. Relations defined in a research let us confirm the LDA and UA for air velocity reproduction to be the most advantageous measures. The results affirm ultrasonic anemometer to be reliable and favourable instrument for measurement of mean velocity or control of velocity stability in the velocity range of 0.05 m/s – 10 (15) m/s when the LDA used. The main aim of this research is to investigate low velocity regularities, starting from 0.05 m/s, including region of turbulent, laminar and transitional air flows. Theoretical and experimental results and brief analysis of it are given in the paper. Maximum and mean velocity relations for transitional air flow having unique distribution are represented. Transitional flow having distinctive and different from laminar and turbulent flow characteristics experimentally have not yet been analysed.

Keywords: Laser Doppler anemometer, ultrasonic anemometer, air flow velocities, transitional flow regime, measurement, uncertainty.

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646 Deep Reinforcement Learning for Optimal Decision-making in Supply Chains

Authors: Nitin Singh, Meng Ling, Talha Ahmed, Tianxia Zhao, Reinier van de Pol

Abstract:

We propose the use of Reinforcement Learning (RL) as a viable alternative for optimizing supply chain management, particularly in scenarios with stochasticity in product demands. RL’s adaptability to changing conditions and its demonstrated success in diverse fields of sequential decision-making make it a promising candidate for addressing supply chain problems. We investigate the impact of demand fluctuations in a multi-product supply chain system and develop RL agents with learned generalizable policies. We provide experimentation details for training RL agents and a statistical analysis of the results. We study generalization ability of RL agents for different demand uncertainty scenarios and observe superior performance compared to the agents trained with fixed demand curves. The proposed methodology has the potential to lead to cost reduction and increased profit for companies dealing with frequent inventory movement between supply and demand nodes.

Keywords: Inventory Management, Reinforcement Learning, Supply Chain Optimization, Uncertainty.

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645 Monte Carlo Analysis and Fuzzy Sets for Uncertainty Propagation in SIS Performance Assessment

Authors: Fares Innal, Yves Dutuit, Mourad Chebila

Abstract:

The object of this work is the probabilistic performance evaluation of safety instrumented systems (SIS), i.e. the average probability of dangerous failure on demand (PFDavg) and the average frequency of failure (PFH), taking into account the uncertainties related to the different parameters that come into play: failure rate (λ), common cause failure proportion (β), diagnostic coverage (DC)... This leads to an accurate and safe assessment of the safety integrity level (SIL) inherent to the safety function performed by such systems. This aim is in keeping with the requirement of the IEC 61508 standard with respect to handling uncertainty. To do this, we propose an approach that combines (1) Monte Carlo simulation and (2) fuzzy sets. Indeed, the first method is appropriate where representative statistical data are available (using pdf of the relating parameters), while the latter applies in the case characterized by vague and subjective information (using membership function). The proposed approach is fully supported with a suitable computer code.

Keywords: Fuzzy sets, Monte Carlo simulation, Safety instrumented system, Safety integrity level.

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644 Judicial Institutions in a Post-Conflict Society: Gaining Legitimacy through a Holistic Reform

Authors: Abdul Salim Amin

Abstract:

This paper focuses on how judiciaries in post-conflict societies can gain legitimacy through reformation. Legitimacy plays a pivotal role in shaping people’s behavior to submit to the law and verifies the rightfulness of an organ for taking binding decisions. Among various dynamics, judicial independence, access to justice and behavioral changes of the judicial officials broadly contribute to legitimation of judiciary in general, and the courts in particular. Increasing independence of judiciary through reform limits, inter alia, government interference in judicial issues and protects basic rights of the citizens. Judicial independence does not only matter in institutional terms, individual independence also influences the impartiality and integrity of judges, which can be increased through education and better administration of justice. Finally, access to justice as an intertwined concept both at the legal and moral spectrum of judicial reform avails justice to the citizens and increases the level of public trust and confidence. Efficient legal decisions on fostering such elements through holistic reform create a rule of law atmosphere. Citizens neither accept an illegitimate judiciary nor do they trust its decisions. Lack of such tolerance and confidence deters the rule of law and thus, undermines the democratic development of a society.

Keywords: Legitimacy, judicial reform, judicial independence, access to justice, legal training, informal justice, rule of law.

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643 Relationship between Financial Reporting Transparency and Investment Efficiency: Evidence from Iran

Authors: Bita Mashayekhi, Hamid Kalhornia

Abstract:

One of the most important roles of financial reporting is improving the firms’ investment decisions; however, there is not much supporting evidence for this claim in emerging markets like Iran. In this study, the effect of financial reporting transparency in investment efficiency of Iranian firms has been investigated. In order to do this, 336 listed companies on Tehran Stock Exchange (TSE) has been selected for time period 2012 to 2015 as research sample. For testing our main hypothesis, we classified sample firms into two groups based on their deviation from expected investment: under-investment and over-investment cases. The results indicate that there is positive significant relationship between financial transparency and investment efficiency. In the other words, transparency can mitigate both underinvestment and overinvestment situations.

Keywords: Corporate governance, disclosure, investment decisions, investment efficiency, transparency.

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642 The Reproducibility and Repeatability of Modified Likelihood Ratio for Forensics Handwriting Examination

Authors: O. Abiodun Adeyinka, B. Adeyemo Adesesan

Abstract:

The forensic use of handwriting depends on the analysis, comparison, and evaluation decisions made by forensic document examiners. When using biometric technology in forensic applications, it is necessary to compute Likelihood Ratio (LR) for quantifying strength of evidence under two competing hypotheses, namely the prosecution and the defense hypotheses wherein a set of assumptions and methods for a given data set will be made. It is therefore important to know how repeatable and reproducible our estimated LR is. This paper evaluated the accuracy and reproducibility of examiners' decisions. Confidence interval for the estimated LR were presented so as not get an incorrect estimate that will be used to deliver wrong judgment in the court of Law. The estimate of LR is fundamentally a Bayesian concept and we used two LR estimators, namely Logistic Regression (LoR) and Kernel Density Estimator (KDE) for this paper. The repeatability evaluation was carried out by retesting the initial experiment after an interval of six months to observe whether examiners would repeat their decisions for the estimated LR. The experimental results, which are based on handwriting dataset, show that LR has different confidence intervals which therefore implies that LR cannot be estimated with the same certainty everywhere. Though the LoR performed better than the KDE when tested using the same dataset, the two LR estimators investigated showed a consistent region in which LR value can be estimated confidently. These two findings advance our understanding of LR when used in computing the strength of evidence in handwriting using forensics.

Keywords: Logistic Regression LoR, Kernel Density Estimator KDE, Handwriting, Confidence Interval, Repeatability, Reproducibility.

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641 Improved Torque Control of Electrical Load Simulator with Parameters and State Estimation

Authors: Nasim Ullah, Shaoping Wang

Abstract:

ELS is an important ground based hardware in the loop simulator used for aerodynamics torque loading experiments of the actuators under test. This work focuses on improvement of the transient response of torque controller with parameters uncertainty of Electrical Load Simulator (ELS).The parameters of load simulator are estimated online and the model is updated, eliminating the model error and improving the steady state torque tracking response of torque controller. To improve the Transient control performance the gain of robust term of SMC is updated online using fuzzy logic system based on the amount of uncertainty in parameters of load simulator. The states of load simulator which cannot be measured directly are estimated using luenberger observer with update of new estimated parameters. The stability of the control scheme is verified using Lyapunov theorem. The validity of proposed control scheme is verified using simulations.

Keywords: ELS, Observer, Transient Performance, SMC, Extra Torque, Fuzzy Logic.

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640 Economic Assessment Methodology to Support Decisions for Transport Infrastructure Development

Authors: Dimitrios J. Dimitriou

Abstract:

The decades after the end of the second War provide evidence that infrastructures investments contibute to economic development, on terms of productivity and income growth. In order to force productivity and increase competitiveness the financing of large transport infrastructure projects are on the top of the agenda in strategic planning process. Such a decision may take form some days to some decades and stakeholders as well as decision makers need tools in order to estimate the economic impact on natioanl economy of such an investment. The key question in such decisions is if the effects caused by the new infrastructure could be able to boost economic development on one hand, and create new jobs and activities on the other. This paper deals with the review of estimation of the mega transport infrastructure projects economic effects in economy.

Keywords: Economic impact, transport infrastructure, strategic planning.

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639 Modeling the Symptom-Disease Relationship by Using Rough Set Theory and Formal Concept Analysis

Authors: Mert Bal, Hayri Sever, Oya Kalıpsız

Abstract:

Medical Decision Support Systems (MDSSs) are sophisticated, intelligent systems that can provide inference due to lack of information and uncertainty. In such systems, to model the uncertainty various soft computing methods such as Bayesian networks, rough sets, artificial neural networks, fuzzy logic, inductive logic programming and genetic algorithms and hybrid methods that formed from the combination of the few mentioned methods are used. In this study, symptom-disease relationships are presented by a framework which is modeled with a formal concept analysis and theory, as diseases, objects and attributes of symptoms. After a concept lattice is formed, Bayes theorem can be used to determine the relationships between attributes and objects. A discernibility relation that forms the base of the rough sets can be applied to attribute data sets in order to reduce attributes and decrease the complexity of computation.

Keywords: Formal Concept Analysis, Rough Set Theory, Granular Computing, Medical Decision Support System.

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638 The Application of Real Options to Capital Budgeting

Authors: George Yungchih Wang

Abstract:

Real options theory suggests that managerial flexibility embedded within irreversible investments can account for a significant value in project valuation. Although the argument has become the dominant focus of capital investment theory over decades, yet recent survey literature in capital budgeting indicates that corporate practitioners still do not explicitly apply real options in investment decisions. In this paper, we explore how real options decision criteria can be transformed into equivalent capital budgeting criteria under the consideration of uncertainty, assuming that underlying stochastic process follows a geometric Brownian motion (GBM), a mixed diffusion-jump (MX), or a mean-reverting process (MR). These equivalent valuation techniques can be readily decomposed into conventional investment rules and “option impacts", the latter of which describe the impacts on optimal investment rules with the option value considered. Based on numerical analysis and Monte Carlo simulation, three major findings are derived. First, it is shown that real options could be successfully integrated into the mindset of conventional capital budgeting. Second, the inclusion of option impacts tends to delay investment. It is indicated that the delay effect is the most significant under a GBM process and the least significant under a MR process. Third, it is optimal to adopt the new capital budgeting criteria in investment decision-making and adopting a suboptimal investment rule without considering real options could lead to a substantial loss in value.

Keywords: real options, capital budgeting, geometric Brownianmotion, mixed diffusion-jump, mean-reverting process

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637 Equivalence Class Subset Algorithm

Authors: Jeffrey L. Duffany

Abstract:

The equivalence class subset algorithm is a powerful tool for solving a wide variety of constraint satisfaction problems and is based on the use of a decision function which has a very high but not perfect accuracy. Perfect accuracy is not required in the decision function as even a suboptimal solution contains valuable information that can be used to help find an optimal solution. In the hardest problems, the decision function can break down leading to a suboptimal solution where there are more equivalence classes than are necessary and which can be viewed as a mixture of good decision and bad decisions. By choosing a subset of the decisions made in reaching a suboptimal solution an iterative technique can lead to an optimal solution, using series of steadily improved suboptimal solutions. The goal is to reach an optimal solution as quickly as possible. Various techniques for choosing the decision subset are evaluated.

Keywords: np-complete, complexity, algorithm.

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636 Comparative Study - Three Artificial Intelligence Techniques for Rain Domain in Precipitation Forecast

Authors: Nabilah Filzah Mohd Radzuan, Andi Putra, Zalinda Othman, Azuraliza Abu Bakar, Abdul Razak Hamdan

Abstract:

Precipitation forecast is important in avoid incident of natural disaster which can cause loss in involved area. This review paper involves three techniques from artificial intelligence namely logistic regression, decisions tree, and random forest which used in making precipitation forecast. These combination techniques through VAR model in finding advantages and strength for every technique in forecast process. Data contains variables from rain domain. Adaptation of artificial intelligence techniques involved on rain domain enables the process to be easier and systematic for precipitation forecast.

Keywords: Logistic regression, decisions tree, random forest, VAR model.

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635 The Necessity of Urban Boundaries in Planning Legislation: A Case Study in Bilecik, Turkey

Authors: Mercan Efe Güney, Barış Parlatangiller, Melik Ayer

Abstract:

In Turkey, while urban area boundaries are enlarged by making decisions on investment areas in cities, development plans are made according to government decisions, rather than scientific criteria. Even environment protection laws state that “if public interest is at stake”, areas under mandatory protection can be transformed into investment areas. This leads to destruction of valuable agricultural lands. Paper demonstrates loss of agricultural lands by superimposing plans, Suitability of the Lands for Agricultural Use and Google Earth Images in an exemplary settlement, and expresses that urban area boundaries should be included in legislation as an official boundary for all settlements.

Keywords: Agriculture, boundary, city planning, development plan, legislation.

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634 Software Effort Estimation Models Using Radial Basis Function Network

Authors: E. Praynlin, P. Latha

Abstract:

Software Effort Estimation is the process of estimating the effort required to develop software. By estimating the effort, the cost and schedule required to estimate the software can be determined. Accurate Estimate helps the developer to allocate the resource accordingly in order to avoid cost overrun and schedule overrun. Several methods are available in order to estimate the effort among which soft computing based method plays a prominent role. Software cost estimation deals with lot of uncertainty among all soft computing methods neural network is good in handling uncertainty. In this paper Radial Basis Function Network is compared with the back propagation network and the results are validated using six data sets and it is found that RBFN is best suitable to estimate the effort. The Results are validated using two tests the error test and the statistical test.

Keywords: Software cost estimation, Radial Basis Function Network (RBFN), Back propagation function network, Mean Magnitude of Relative Error (MMRE).

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633 A 3D Approach for Extraction of the Coronaryartery and Quantification of the Stenosis

Authors: Mahdi Mazinani, S. D. Qanadli, Rahil Hosseini, Tim Ellis, Jamshid Dehmeshki

Abstract:

Segmentation and quantification of stenosis is an important task in assessing coronary artery disease. One of the main challenges is measuring the real diameter of curved vessels. Moreover, uncertainty in segmentation of different tissues in the narrow vessel is an important issue that affects accuracy. This paper proposes an algorithm to extract coronary arteries and measure the degree of stenosis. Markovian fuzzy clustering method is applied to model uncertainty arises from partial volume effect problem. The algorithm employs: segmentation, centreline extraction, estimation of orthogonal plane to centreline, measurement of the degree of stenosis. To evaluate the accuracy and reproducibility, the approach has been applied to a vascular phantom and the results are compared with real diameter. The results of 10 patient datasets have been visually judged by a qualified radiologist. The results reveal the superiority of the proposed method compared to the Conventional thresholding Method (CTM) on both datasets.

Keywords: 3D coronary artery tree extraction, segmentation, quantification, fuzzy clustering, and Markov random field

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632 A Comparative Analysis of Multiple Criteria Decision Making Analysis Methods for Strategic, Tactical, and Operational Decisions in Military Fighter Aircraft Selection

Authors: C. Ardil

Abstract:

This paper considers a comparative analysis of multiple criteria decision making analysis methods for strategic, tactical, and operational decisions in military fighter aircraft selection for the air force fleet planning. The evaluation criteria governing the decision analysis process are determined from the literature for the three existing military combat aircraft. Military fighter aircraft selection problem is structured using "preference analysis for reference ideal solution (PARIS)” approach in multiple criteria decision analysis (MCDMA). Systematic comparisons were made with existing MCDMA methods (PARIS, and TOPSIS) to verify the stability and accuracy of the results obtained. The proposed integrated MCDMA systematic approach is expected to address the issues encountered in the aircraft selection process. The comparative analysis results show that the proposed method is an effective and accurate tool that can help analysts make better strategic, tactical, and operational decisions.

Keywords: aircraft, military fighter aircraft selection, multiple criteria decision making, multiple criteria decision making analysis, mean weight, entropy weight, MCDMA, PARIS, TOPSIS, Saab Gripen, Dassault Rafale, Eurofighter Typhoon

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631 Factors Affecting Employee Decision Making in an AI Environment

Authors: Yogesh C. Sharma, A. Seetharaman

Abstract:

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.

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630 Empirical and Indian Automotive Equity Portfolio Decision Support

Authors: P. Sankar, P. James Daniel Paul, Siddhant Sahu

Abstract:

A brief review of the empirical studies on the methodology of the stock market decision support would indicate that they are at a threshold of validating the accuracy of the traditional and the fuzzy, artificial neural network and the decision trees. Many researchers have been attempting to compare these models using various data sets worldwide. However, the research community is on the way to the conclusive confidence in the emerged models. This paper attempts to use the automotive sector stock prices from National Stock Exchange (NSE), India and analyze them for the intra-sectorial support for stock market decisions. The study identifies the significant variables and their lags which affect the price of the stocks using OLS analysis and decision tree classifiers.

Keywords: Indian Automotive Sector, Stock Market Decisions, Equity Portfolio Analysis, Decision Tree Classifiers, Statistical Data Analysis.

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629 Financial Decision-Making among Finance Students: An Empirical Study from the Czech Republic

Authors: Barbora Chmelíková

Abstract:

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.

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628 Assessment of Pollution Reduction

Authors: Katarzyna Strzała-Osuch

Abstract:

Environmental investments, including ecological projects, relating to the protection of atmosphere are today a need. However, investing in the environment should be based on rational management rules. This comes across a problem of selecting a method to assess substances reduced during projects. Therefore, a method allowing for the assessment of decision rationality has to be found. The purpose of this article is to present and systematise pollution reduction assessment methods and illustrate theoretical analyses with empirical data. Empirical results confirm theoretical considerations, which proved that the only method for judging pollution reduction, free of apparent disadvantages, is the Eco 99-ratio method. To make decisions on environmental projects, financing institutions should take into account a rationality rule. Therefore the Eco 99-ratio method could be applied to make decisions relating to environmental investments in the area of air protection.

Keywords: Assessment of pollution reduction, costs of environmental protection, efficiency of environmental investments.

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627 Career Counseling Program for the Psychological Well-Being of Freshmen University Students

Authors: Sheila Marie G. Hocson

Abstract:

One of the vital developmental tasks that an individual faces during adolescence is choosing a career. Arriving at a career decision is difficult and anxious for many adolescents in the tertiary level. The main purpose of this study is to determine the factors relating to career indecision among freshmen college students as basis for the formulation of a comprehensive career counseling program for the psychological well-being of freshmen university students. The subjects were purposively selected. The Slovin-s formula was used in determining the sample size, using a 0.05 margin of error in getting the total number of samples per college and per major. The researcher made use of descriptive correlational study in determining significant factors relating to career indecision. Multiple Regression Analysis indicated that career thoughts, career decisions and vocational identity as factors related to career indecision.

Keywords: career decisions, career guidance program, career thoughts, vocational identity

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626 Elicitation of Requirements for a Knowledge Management Concept in Decentralized Production Planning

Authors: S. Minhas, C. Juzek, U. Berger

Abstract:

The planning in manufacturing system is becoming complicated day by day due to the expanding networks and shortage of skilled people to manage change. Consequently, faster lead time and rising demands for eco-efficient evaluation of manufacturing products and processes need exploitation of new and intelligent knowledge management concepts for manufacturing planning. This paper highlights motivation for incorporation of new features in the manufacturing planning system. Furthermore, it elaborates requirements for the development of intelligent knowledge management concept to support planning related decisions. Afterwards, the derived concept is presented in this paper considering two case studies. The first case study is concerned with the automotive ramp-up planning. The second case study specifies requirements for knowledge management system to support decisions in eco-efficient evaluation of manufacturing products and processes

Keywords: Ramp-up, Environmental impact, Knowledge management.

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625 The Computational Psycholinguistic Situational-Fuzzy Self-Controlled Brain and Mind System under Uncertainty

Authors: Ben Khayut, Lina Fabri, Maya Avikhana

Abstract:

The modern Artificial Narrow Intelligence (ANI) models cannot: a) independently, situationally, and continuously function without of human intelligence, used for retraining and reprogramming the ANI’s models, and b) think, understand, be conscious, and cognize under uncertainty and changing of the environmental objects. To eliminate these shortcomings and build a new generation of Artificial Intelligence systems, the paper proposes a Conception, Model, and Method of Computational Psycholinguistic Cognitive Situational-Fuzzy Self-Controlled Brain and Mind System (CPCSFSCBMSUU). This system uses a neural network as its computational memory, and activates functions of the perception, identification of real objects, fuzzy situational control, and forming images of these objects. These images and objects are used for modeling their psychological, linguistic, cognitive, and neural values of properties and features, the meanings of which are identified, interpreted, generated, and formed taking into account the identified subject area, using the data, information, knowledge, accumulated in the Memory. The functioning of the CPCSFSCBMSUU is carried out by its subsystems of the: fuzzy situational control of all processes, computational perception, identifying of reactions and actions, Psycholinguistic Cognitive Fuzzy Logical Inference, Decision Making, Reasoning, Systems Thinking, Planning, Awareness, Consciousness, Cognition, Intuition, and Wisdom. In doing so are performed analysis and processing of the psycholinguistic, subject, visual, signal, sound and other objects, accumulation and using the data, information and knowledge of the Memory, communication, and interaction with other computing systems, robots and humans in order of solving the joint tasks. To investigate the functional processes of the proposed system, the principles of situational control, fuzzy logic, psycholinguistics, informatics, and modern possibilities of data science were applied. The proposed self-controlled system of brain and mind is oriented on use as a plug-in in multilingual subject applications.

Keywords: Computational psycholinguistic cognitive brain and mind system, situational fuzzy control, uncertainty, AI.

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