Search results for: Semi-Markov Decision Process.

Authors: Nalinee Sophatsathit

Abstract:

This research focuses on the use of a recommender system in decision support by means of a used car dealer case study in Bangkok Metropolitan. The goal is to develop an effective used car purchasing system for dealers based on the above premise. The underlying principle rests on content-based recommendation from a set of usability surveys. A prototype was developed to conduct buyers- survey selected from 5 experts and 95 general public. The responses were analyzed to determine the mean and standard deviation of buyers- preference. The results revealed that both groups were in favor of using the proposed system to assist their buying decision. This indicates that the proposed system is meritorious to used car dealers.

Keywords: Recommender Systems, Decision Support, Content- Based Recommendation, used car dealer.

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Authors: Manpreet Singh, Parvinder Singh, Sumitter Bir Singh

Abstract:

The emergence of information technology has resulted in an ever-increasing demand to use computers for the efficient management and dissemination of information. Keeping in view the strong need of farmers to collect important and updated information for interactive, flexible and quick decision-making, a model of Decision Support System for Farm Management is developed. The paper discusses the use of Internet technology for the farmers to take decisions. A model is developed for the farmers to access online interactive and flexible information for their farm management. The workflow of the model is presented highlighting the information transfer between different modules.

Keywords: Decision Support System, dissemination.

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Authors: Glenda Wrenn, Juliet Muzere, Meldra Hall, Allyson Belton, Kisha Holden, Chanita Hughes-Halbert, Martha Kent, Bekh Bradley

Abstract:

Understanding the help seeking decision making process and experiences of health disparity populations with posttraumatic stress disorder (PTSD) is central to development of trauma-informed, culturally centered, and patient focused services. Yet, little is known about the decision making process among adult Black women who are non-treatment seekers as they are, by definition, not engaged in services. Methods: Audiotaped interviews were conducted with 30 African American adult women with clinically significant PTSD symptoms who were engaged in primary care, but not in treatment for PTSD despite symptom burden. A qualitative interview guide was used to elucidate key themes. Independent coding of themes mapped to theory and identification of emergent themes were conducted using qualitative methods. An existing quantitative dataset was analyzed to contextualize responses and provide a descriptive summary of the sample. Results: Emergent themes revealed that active mental avoidance, the intermittent nature of distress, ambivalence, and self-identified resilience as undermining to help seeking decisions. Participants were stuck within the help-seeking phase of ‘recognition’ of illness and retained a sense of “it is my decision” despite endorsing significant social and environmental negative influencers. Participants distinguished ‘help acceptance’ from ‘help seeking’ with greater willingness to accept help and importance placed on being of help to others. Conclusions: Elucidation of the decision-making process from the perspective of non-treatment seekers has implications for outreach and treatment within models of integrated and specialty systems care. The salience of responses to trauma symptoms and stagnation in the help seeking recognition phase are findings relevant to integrated care service design and community engagement.

Keywords: Culture, help-seeking, integrated care, PTSD.

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Authors: S. Sabbour, H. Lasi, P. von Tessin

Abstract:

The purpose of this study is two-fold. First, it attempts to explore potential opportunities for utilizing visual interactive simulations along with Business Intelligence (BI) as a decision support tool for strategic decision making. Second, it tries to figure out the essential top-level managerial requirements that would transform strategic decision simulation into an integral component of BI systems. The domain of particular interest was the application of visual interactive simulation capabilities in the field of supply chains. A qualitative exploratory method was applied, through the use of interviews with two leading companies. The collected data was then analysed to demonstrate the difference between the literature perspective and the practical managerial perspective on the issue. The results of the study suggest that although the use of simulation particularly in managing supply chains is very evident in literature, yet, in practice such utilization is still in its infancy, particularly regarding strategic decisions. Based on the insights a prototype of a simulation based BI-solution-extension was developed and evaluated.

Keywords: Business Intelligence, decision support, strategic decisions, simulation, SCM.

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Authors: Adriana Ávila Zúñiga Nordfjeld

Abstract:

This paper provides a literature review to document the state of the art with respect to handling “human bias” in decision making within the established quality management systems (QMS) and LEAN theory, in the context of shipbuilding. Previous research shows that in shipbuilding there is a huge deviation from the planned man-hours under the project management to the actual man-hours used because of errors in planning and reworks caused by human bias in the information flows, among others. This reduces the efficiency, and increases operational costs. Thus, the research question is how QMS and LEAN handle biases. The findings show the gap in studying the integration of methods to handle human bias in decision making into QMS and lean, not only within shipbuilding, but in general. Theoretical and practical implications are discussed for researchers and practitioners in the areas of decision making, QMS and LEAN, and future research is suggested.

Keywords: Human bias, decision making, LEAN Shipbuilding, quality management systems.

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Authors: W. Rowan, Y. O’Connor, L. Lynch, C. Heavin

Abstract:

Situation Awareness can offer the potential for conscious dynamic reflection. In an era of online health data sharing, it is becoming increasingly important that users of health social networks (HSNs) have the information necessary to make informed decisions as part of the registration process and in the provision of eConsent. This research aims to leverage an adapted Situation Awareness (SA) model to explore users’ decision making processes in the provision of eConsent. A HSN platform was used to investigate these behaviours. A mixed methods approach was taken. This involved the observation of registration behaviours followed by a questionnaire and focus group/s. Early results suggest that users are apt to automatically accept eConsent, and only later consider the long-term implications of sharing their personal health information. Further steps are required to continue developing knowledge and understanding of this important eConsent process. The next step in this research will be to develop a set of guidelines for the improved presentation of eConsent on the HSN platform.

Keywords: eConsent, health social network, mixed methods, situation awareness.

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Authors: S. Madhavi, K. Baala Srinivas, G. Bharath, R. K. Indhuja, M. Kowser Chandini

Abstract:

Game theory is the study of how people interact and make decisions to handle competitive situations. It has mainly been developed to study decision making in complex situations. Humans routinely alter their behaviour in response to changes in their social and physical environment. As a consequence, the outcomes of decisions that depend on the behaviour of multiple decision makers are difficult to predict and require highly adaptive decision-making strategies. In addition to the decision makers may have preferences regarding consequences to other individuals and choose their actions to improve or reduce the well-being of others. Nash equilibrium is a fundamental concept in the theory of games and the most widely used method of predicting the outcome of a strategic interaction in the social sciences. A Nash Equilibrium exists when there is no unilateral profitable deviation from any of the players involved. On the other hand, no player in the game would take a different action as long as every other player remains the same.

Keywords: Game Theory, Nash Equilibrium, Rules of Dominance.

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Authors: Ehsan Akhlaghi

Abstract:

Effective employee selection is a critical component of a successful organization. Many important criteria for personnel selection such as decision-making ability, adaptability, ambition, and self-organization are naturally vague and imprecise to evaluate. The rough sets theory (RST) as a new mathematical approach to vagueness and uncertainty is a very well suited tool to deal with qualitative data and various decision problems. This paper provides conceptual, descriptive, and simulation results, concentrating chiefly on human resources and personnel selection factors. The current research derives certain decision rules which are able to facilitate personnel selection and identifies several significant features based on an empirical study conducted in an IT company in Iran.

Keywords: Decision Making, Expert System, PersonnelSelection, Rough Set Theory

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Authors: C. Ardil

Abstract:

Uncertainty set theory is a generalization of fuzzy set theory and intuitionistic fuzzy set theory. It serves as an effective tool for dealing with inconsistent, imprecise, and vague information. The technique for order preference by similarity to ideal solution (TOPSIS) method is a multiple-attribute method used to identify solutions from a finite set of alternatives. It simultaneously minimizes the distance from an ideal point and maximizes the distance from a nadir point. In this paper, an extension of the TOPSIS method for multiple attribute group decision-making (MAGDM) based on uncertainty sets is presented. In uncertainty decision analysis, decision-makers express information about attribute values and weights using uncertainty numbers to select the best stealth combat aircraft.

Keywords: Uncertainty set, stealth combat aircraft selection multiple criteria decision-making analysis, MCDM, uncertainty decision analysis, TOPSIS

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Authors: Leila Jafari, Viliam Makis, Akram Khaleghei G.B.

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In this paper, we present a maintenance model of a two-unit series system with economic dependence. Unit#1 which is considered to be more expensive and more important, is subject to condition monitoring (CM) at equidistant, discrete time epochs and unit#2, which is not subject to CM has a general lifetime distribution. The multivariate observation vectors obtained through condition monitoring carry partial information about the hidden state of unit#1, which can be in a healthy or a warning state while operating. Only the failure state is assumed to be observable for both units. The objective is to find an optimal opportunistic maintenance policy minimizing the long-run expected average cost per unit time. The problem is formulated and solved in the partially observable semi-Markov decision process framework. An effective computational algorithm for finding the optimal policy and the minimum average cost is developed, illustrated by a numerical example.

Keywords: Condition-Based Maintenance, Semi-Markov Decision Process, Multivariate Bayesian Control Chart, Partially Observable System, Two-unit System.

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Authors: Kunyanuth Kularbphettong, Cholticha Tongsiri

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This paper aims to create the model for student in choosing an emphasized track of student majoring in computer science at Suan Sunandha Rajabhat University. The objective of this research is to develop the suggested system using data mining technique to analyze knowledge and conduct decision rules. Such relationships can be used to demonstrate the reasonableness of student choosing a track as well as to support his/her decision and the system is verified by experts in the field. The sampling is from student of computer science based on the system and the questionnaire to see the satisfaction. The system result is found to be satisfactory by both experts and student as well. 

Keywords: Data mining technique, the decision support system, knowledge and decision rules.

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Authors: Oscar Fernandez-Flores, Tony Speer, Rodney Day

Abstract:

This paper identifies five key design characteristics of production scheduling software systems in printed circuit board (PCB) manufacturing. The authors consider that, in addition to an effective scheduling engine, a scheduling system should be able to process a preventative maintenance calendar, to give the user the flexibility to handle data using a variety of electronic sources, to run simulations to support decision-making, and to have simple and customisable graphical user interfaces. These design considerations were the result of a review of academic literature, the evaluation of commercial applications and a compilation of requirements of a PCB manufacturer. It was found that, from those systems that were evaluated, those that effectively addressed all five characteristics outlined in this paper were the most robust of all and could be used in PCB manufacturing.

Keywords: Decision-making, ERP, PCB, scheduling.

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Authors: C. Oprean, C. V. Kifor, S. C. Negulescu, C. Candea, L. Oprean, C. Oprean, S. Kifor

Abstract:

This paper presents an innovative approach within the area of Group Decision Support System (GDSS) by using tools based on intelligent agents. It introduces iGDSS, a software platform for decision support and collaboration and an application of this platform - eCollaborative Decisions - for academic environment, all these developed within a framework of a research project.

Keywords: Group Decision Support System, Managerial Academic Decisions, Computer Interaction.

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Authors: Jan Zeman

Abstract:

The paper describes the futures trading and aims to design the speculators trading strategy. The problem is formulated as the decision making task and such as is solved. The solution of the task leads to complex mathematical problems and the approximations of the decision making is demanded. Two kind of approximation are used in the paper: Monte Carlo for the multi-step prediction and iteration spread in time for the optimization. The solution is applied to the real-market data and the results of the off-line experiments are presented.

Keywords: futures trading, decision making

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Authors: Mazeyanti M. Ariffin, Noreen Izza Arshad, Ainol Rahmah Shaarani, Syed Uzair Shah

Abstract:

Knowledge management is a process taking any steps that needed to get the most out of available knowledge resources. KM involved several steps; capturing the knowledge discovering new knowledge, sharing the knowledge and applied the knowledge in the decision making process. In applying the knowledge, it is not necessary for the individual that use the knowledge to comprehend it as long as the available knowledge is used in guiding the decision making and actions. When an expert is called and he provides stepby- step procedure on how to solve the problems to the caller, the expert is transferring the knowledge or giving direction to the caller. And the caller is 'applying' the knowledge by following the instructions given by the expert. An appropriate mechanism is needed to ensure effective knowledge transfer which in this case is by telephone or email. The problem with email and telephone is that the knowledge is not fully circulated and disseminated to all users. In this paper, with related experience of local university Help Desk, it is proposed the usage of Information Technology (IT)to effectively support the knowledge transfer in the organization. The issues covered include the existing knowledge, the related works, the methodology used in defining the knowledge management requirements as well the overview of the prototype.

Keywords: Knowledge Management, Knowledge Transfer, Help Desk, Web-based system.

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Authors: Mahesh Pal

Abstract:

In recent years, a number of works proposing the combination of multiple classifiers to produce a single classification have been reported in remote sensing literature. The resulting classifier, referred to as an ensemble classifier, is generally found to be more accurate than any of the individual classifiers making up the ensemble. As accuracy is the primary concern, much of the research in the field of land cover classification is focused on improving classification accuracy. This study compares the performance of four ensemble approaches (boosting, bagging, DECORATE and random subspace) with a univariate decision tree as base classifier. Two training datasets, one without ant noise and other with 20 percent noise was used to judge the performance of different ensemble approaches. Results with noise free data set suggest an improvement of about 4% in classification accuracy with all ensemble approaches in comparison to the results provided by univariate decision tree classifier. Highest classification accuracy of 87.43% was achieved by boosted decision tree. A comparison of results with noisy data set suggests that bagging, DECORATE and random subspace approaches works well with this data whereas the performance of boosted decision tree degrades and a classification accuracy of 79.7% is achieved which is even lower than that is achieved (i.e. 80.02%) by using unboosted decision tree classifier.

Keywords: Ensemble learning, decision tree, remote sensingclassification.

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Authors: Mehtap Dursun, E. Ertugrul Karsak, Melis Almula Karadayi

Abstract:

The management of the health-care wastes is one of the most important problems in Istanbul, a city with more than 12 million inhabitants, as it is in most of the developing countries. Negligence in appropriate treatment and final disposal of the healthcare wastes can lead to adverse impacts to public health and to the environment. This paper employs a fuzzy multi-criteria group decision making approach, which is based on the principles of fusion of fuzzy information, 2-tuple linguistic representation model, and technique for order preference by similarity to ideal solution (TOPSIS), to evaluate health-care waste (HCW) treatment alternatives for Istanbul. The evaluation criteria are determined employing nominal group technique (NGT), which is a method of systematically developing a consensus of group opinion. The employed method is apt to manage information assessed using multigranularity linguistic information in a decision making problem with multiple information sources. The decision making framework employs ordered weighted averaging (OWA) operator that encompasses several operators as the aggregation operator since it can implement different aggregation rules by changing the order weights. The aggregation process is based on the unification of information by means of fuzzy sets on a basic linguistic term set (BLTS). Then, the unified information is transformed into linguistic 2-tuples in a way to rectify the problem of loss information of other fuzzy linguistic approaches.

Keywords: Group decision making, health care waste management, multi-criteria decision making, OWA, TOPSIS, 2-tuple linguistic representation

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Authors: Ayed Salman, Fawaz Al-Anzi, Aseel Al-Minayes

Abstract:

Heuristics-based search methodologies normally work on searching a problem space of possible solutions toward finding a “satisfactory" solution based on “hints" estimated from the problem-specific knowledge. Research communities use different types of methodologies. Unfortunately, most of the times, these hints are immature and can lead toward hindering these methodologies by a premature convergence. This is due to a decrease of diversity in search space that leads to a total implosion and ultimately fitness stagnation of the population. In this paper, a novel Decision Maturity framework (DMF) is introduced as a solution to this problem. The framework simply improves the decision on the direction of the search by materializing hints enough before using them. Ideas from this framework are injected into the particle swarm optimization methodology. Results were obtained under both static and dynamic environment. The results show that decision maturity prevents premature converges to a high degree.

Keywords: Heuristic Search, hints, Particle Swarm Optimization, Decision Maturity Framework.

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Authors: Wided GuezGuez, Nahla Ben Amor, Khaled Mellouli

Abstract:

Influence diagrams (IDs) are one of the most commonly used graphical decision models for reasoning under uncertainty. The quantification of IDs which consists in defining conditional probabilities for chance nodes and utility functions for value nodes is not always obvious. In fact, decision makers cannot always provide exact numerical values and in some cases, it is more easier for them to specify qualitative preference orders. This work proposes an adaptation of standard IDs to the qualitative framework based on possibility theory.

Keywords: decision making, influence diagrams, qualitative utility, possibility theory.

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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.

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

Abstract:

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: N. A. Ibrahim, A. Kudus, I. Daud, M. R. Abu Bakar

Abstract:

Competing risks survival data that comprises of more than one type of event has been used in many applications, and one of these is in clinical study (e.g. in breast cancer study). The decision tree method can be extended to competing risks survival data by modifying the split function so as to accommodate two or more risks which might be dependent on each other. Recently, researchers have constructed some decision trees for recurrent survival time data using frailty and marginal modelling. We further extended the method for the case of competing risks. In this paper, we developed the decision tree method for competing risks survival time data based on proportional hazards for subdistribution of competing risks. In particular, we grow a tree by using deviance statistic. The application of breast cancer data is presented. Finally, to investigate the performance of the proposed method, simulation studies on identification of true group of observations were executed.

Keywords: Competing risks, Decision tree, Simulation, Subdistribution Proportional Hazard.

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Authors: Wen-Hsiang Lai, Nguyen Quang Vinh

Abstract:

In order to explore the relationship of promotion activities, destination attribute and destination image of Vietnam and find possible solutions, this study uses decision system analysis (DSA) method to develop flowcharts based on three rounds of expert interviews. The interviews were conducted with the experts who were confirmed to directly participate or influence on the decision making that drives the promotion of Vietnam tourism process. This study identifies three models and describes specific decisions on promotion activities, destination attributes and destination images. This study finally derives a general model for promoting the Tourism Industrial Service Network (TISN) in Vietnam. This study finds that the coordination with all sectors and industries of tourism to facilitate favorable condition and improving destination attributes in linking with the efficient promotion activities is highly recommended in order to make visitors satisfied and improve the destination image.

Keywords: Destination attributes, Destination image, Decision system analysis, Tourism promotion

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Authors: Mohanad Alhabo, Li Zhang, Naveed Nawaz

Abstract:

Small cell deployment in 5G networks is a promising technology to enhance the capacity and coverage. However, unplanned deployment may cause high interference levels and high number of unnecessary handovers, which in turn result in an increase in the signalling overhead. To guarantee service continuity, minimize unnecessary handovers and reduce signalling overhead in heterogeneous networks, it is essential to properly model the handover decision problem. In this paper, we model the handover decision problem using Multiple Attribute Decision Making (MADM) method, specifically Technique for Order Preference by Similarity to an Ideal Solution (TOPSIS), and propose a hybrid TOPSIS method to control the handover in heterogeneous network. The proposed method adopts a hybrid weighting policy, which is a combination of entropy and standard deviation. A hybrid weighting control parameter is introduced to balance the impact of the standard deviation and entropy weighting on the network selection process and the overall performance. Our proposed method show better performance, in terms of the number of frequent handovers and the mean user throughput, compared to the existing methods.

Keywords: Handover, HetNets, interference, MADM, small cells, TOPSIS, weight.

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Authors: Babak Tashakori Bafghi, Laleh Tashakori, Reza Allahyari Soeini, Mohammad Mokhtari

Abstract:

Supplier selection is a multi criteria decision-making process that comprises tangible and intangible factors. The majority of previous supplier selection techniques do not consider strategic perspective. Besides, uncertainty is one of the most important obstacles in supplier selection. For the first, time in this paper, the idea of the algorithm " Knapsack " is used to select suppliers Moreover, an attempt has to be made to take the advantage of a simple numerical method for solving model .This is an innovation to resolve any ambiguity in choosing suppliers. This model has been tried in the suppliers selected in a competitive environment and according to all desired standards of quality and quantity to show the efficiency of the model, an industry sample has been uses.

Keywords: Knapsack, linear programming, supplier select, supply chain management.

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Authors: Tony Austin, Shanghua Sun, Nathan Lea, Steve Iliffe, Dipak Kalra, David Ingram, David Patterson

Abstract:

Computer-based decision support (CDSS) systems can deliver real patient care and increase chances of long-term survival in areas of chronic disease management prone to poor control. One such CDSS, for the management of warfarin, is described in this paper and the outcomes shown. Data is derived from the running system and show a performance consistently around 20% better than the applicable guidelines.

Keywords: "Decision Support", "Anticoagulant Control"

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Authors: Gizelle K. Vianna, Gustavo S. Oliveira, Gabriel V. Cunha

Abstract:

The use of decision support systems in agriculture may help monitoring large fields of crops by automatically detecting the symptoms of foliage diseases. In our work, we designed and implemented a decision support system for small tomatoes producers. This work investigates ways to recognize the late blight disease from the analysis of digital images of tomatoes, using a pair of multilayer perceptron neural networks. The networks outputs are used to generate repainted tomato images in which the injuries on the plant are highlighted, and to calculate the damage level of each plant. Those levels are then used to construct a situation map of a farm where a cellular automata simulates the outbreak evolution over the fields. The simulator can test different pesticides actions, helping in the decision on when to start the spraying and in the analysis of losses and gains of each choice of action.

Keywords: Artificial neural networks, cellular automata, decision support system, pattern recognition.

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Authors: Abdelaziz Zaidi, Belkacem Ould Bouamama, Moncef Tagina

Abstract:

Bond Graph as a unified multidisciplinary tool is widely used not only for dynamic modelling but also for Fault Detection and Isolation because of its structural and causal proprieties. A binary Fault Signature Matrix is systematically generated but to make the final binary decision is not always feasible because of the problems revealed by such method. The purpose of this paper is introducing a methodology for the improvement of the classical binary method of decision-making, so that the unknown and identical failure signatures can be treated to improve the robustness. This approach consists of associating the evaluated residuals and the components reliability data to build a Hybrid Bayesian Network. This network is used in two distinct inference procedures: one for the continuous part and the other for the discrete part. The continuous nodes of the network are the prior probabilities of the components failures, which are used by the inference procedure on the discrete part to compute the posterior probabilities of the failures. The developed methodology is applied to a real steam generator pilot process.

Keywords: Redundancy relations, decision-making, Bond Graph, reliability, Bayesian Networks.

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Authors: C. Ardil

Abstract:

This paper proposes entropic programming for the freighter aircraft selection problem using the multiple criteria decision analysis method. The study aims to propose a systematic and comprehensive framework by focusing on the perspective of freighter aircraft selection. In order to achieve this goal, an integrated entropic programming approach was proposed to evaluate and rank alternatives. The decision criteria and aircraft alternatives were identified from the research data analysis. The objective criteria weights were determined by the mean weight method and the standard deviation method. The proposed entropic programming model was applied to a practical decision problem for evaluating and selecting freighter aircraft. The proposed entropic programming technique gives robust, reliable, and efficient results in modeling decision making analysis problems. As a result of entropic programming analysis, Boeing B747-8F, a freighter aircraft alternative ( a3), was chosen as the most suitable freighter aircraft candidate.   

Keywords: entropic programming, additive weighted model, multiple criteria decision making analysis, MCDMA, TOPSIS, aircraft selection, freighter aircraft, Boeing B747-8F, Boeing B777F, Airbus A350F

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Authors: José M. Merigó, Montserrat Casanovas

Abstract:

We present the induced generalized hybrid averaging (IGHA) operator. It is a new aggregation operator that generalizes the hybrid averaging (HA) by using generalized means and order inducing variables. With this formulation, we get a wide range of mean operators such as the induced HA (IHA), the induced hybrid quadratic averaging (IHQA), the HA, etc. The ordered weighted averaging (OWA) operator and the weighted average (WA) are included as special cases of the HA operator. Therefore, with this generalization we can obtain a wide range of aggregation operators such as the induced generalized OWA (IGOWA), the generalized OWA (GOWA), etc. We further generalize the IGHA operator by using quasi-arithmetic means. Then, we get the Quasi-IHA operator. Finally, we also develop an illustrative example of the new approach in a financial decision making problem. The main advantage of the IGHA is that it gives a more complete view of the decision problem to the decision maker because it considers a wide range of situations depending on the operator used.

Keywords: Decision making, Aggregation operators, OWA operator, Generalized means, Selection of investments.

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