scholarly journals Comparison of The Possibilities of Application of Spectrum and Gaming Theories in Modelling Market Economy Negotiations

2021 ◽  
Vol 92 ◽  
pp. 09011
Author(s):  
Kęstutis Peleckis ◽  
Valentina Peleckiene ◽  
Kęstutis Peleckis
Keyword(s):  
Decision Making ◽  
Market Economy ◽  
Value Added ◽  
Theory Approach ◽  
Quantum Cognition ◽  
Negotiation Strategies ◽  
Economic Behaviour ◽  
Analysis And Synthesis ◽  
The Individual ◽  
Classical Economic

Research background: In negotiations, in modelling decision-making at both the individual and market levels, it is important to understand and be able to assess important aspects of economic behaviour. The theory of spectrum is proposed to be applied in modelling decision making. The object of the research is the possibilities of application of spectrum and game theories. Classical economic theory does not define subjective parameters of economic behaviour, therefore, when modelling market negotiation strategies, it is difficult to identify and evaluate appropriate parameters of economic behaviour required for decision-making in market negotiations. The spectrum theory approach can be used to model the economy, both at the individual and market levels, which is especially relevant in international business negotiations, where the modelling of solutions and various operations presents opportunities to assess subjective parameters. Purpose of the article: The aim of the paper is to investigate and compare the application of spectral decay and gambling theories in modelling market economy negotiations. Research methods: Scientific literature analysis, comparative, logical analysis and synthesis, comparative and generalization methods, game theory, quantum cognition methods. Findings & Value added: The article examines the basic principles of behavioural economics: the functions of assessing the psychological value and uncertainty of monetary gain or loss, how both theories take these principles into account: game and spectrum.

scholarly journals Economic analysis of implementing VMI model using game theory

2019 ◽  
Vol 10 (2) ◽  
pp. 253-272 ◽  
Author(s):  
Vojtěch Stehel ◽  
Marek Vochozka ◽  
Tomas Kliestik ◽  
Vladimir Bakes
Keyword(s):  
Game Theory ◽  
Evolutionary Game Theory ◽  
Evolutionary Game ◽  
Value Added ◽  
Point Of View ◽  
Added Value ◽  
Theory Approach ◽  
The Matrix ◽  
Comprehensive Picture ◽  
The Individual

Research background: The article deals with implementing VMI between the supplier and customer. To assess whether the system will be implemented, the evolution game theory is used. The contribution is based on the limitations of the study of the evolutionary game theory approach to modelling VMI policies (Torres et al., 2014) and its later extension, The evolutionary game theory approach to modelling VMI policies (Torres & García-Díaz, 2018). It aims is to complement the studies and provide a comprehensive picture of the issue. Purpose of the article: The main objective of the contribution is to respond to the question whether the VMI system will be introduced between the supplier and customer. Methods: In the first phase, the matrix is analysed from the point of view of the game meaning and its limit parameters. The limit parameters are set taking into account the economic reality. The only examined states of the matrix are those where the result is not obvious. For the purposes of the contribution, we work with a 5-year period. A new software capable of calculating evolutionary focus and their stability is created. Sensitivity analysis is carried out for the individual parameters that affect the system behaviour. Findings & Value added: Value added is a complex description of the system and complementation of previous studies in this field. VMI is confirmed. The results obtained can be used for practical management, so that the managers are able to identify what the actual costs are and what the probability of introducing the sys-tem is. At the same time, they can identify the parameters that can be influenced by them and observe their impact on the shift of the system introduction probability.

scholarly journals Evaluation of earnings of small and medium-sized enterprises in Slovakia in aspect of globalization

2021 ◽  
Vol 92 ◽  
pp. 07028
Author(s):  
Veronika Jurickova ◽  
Anna Kubjatkova
Keyword(s):  
Economic Development ◽  
Market Economy ◽  
Scientific Method ◽  
Slovak Republic ◽  
Value Added ◽  
Theoretical Knowledge ◽  
Mutual Comparison ◽  
The Individual ◽  
Positive Effect ◽  
Constant Support

Research background: Small and medium-sized enterprises are a pillar of every market economy in aspect of globalization. The importance of their position is given mainly by their positive effect on employment. One of the basic elements of healthy economic development in the country is the dynamic increase of these companies, which can satisfy the requirements of even the most demanding customers with their high adaptability and creativity. Purpose of the article: The main goal of the article is to examine the profits of small and medium-sized enterprises from 2015 to 2019. The article also contains the characteristics of small and medium-sized enterprises and their contribution to the economy of the Slovak Republic. The contribution of the article lies in a summary of theoretical knowledge about small and medium-sized enterprises and an examination of the reasons why there was an increase or decrease in profit in individual years. Methods: The scientific method of analysis was used in writing the article, where we came to the appropriate conclusions based on the examination of individual parts. The individual years were compared with each other using the method of mutual comparison. Findings & Value added: The output of the whole article is the finding that small and medium-sized enterprises represent an important part of the economy of the Slovak Republic. In the Slovak republic, the constant support and development of these businesses are essential because they have a significant impact on many economic indicators.

scholarly journals Value Added Tax and Its Influence on Pricing and Price Decision Making of Companies – A Case Study

2021 ◽  
Vol 91 ◽  
pp. 01009
Author(s):  
Anna Kubjatkova ◽  
Anna Krizanova ◽  
Veronika Jurickova
Keyword(s):  
Decision Making ◽  
Value Added ◽  
Selling Price ◽  
Value Added Tax ◽  
Price Decision ◽  
Complex Process ◽  
Analysis And Synthesis ◽  
The Difference ◽  
The Impact

Pricing is a complex process that is influenced by many factors, which companies must constantly take into account when creating prices. The final selling price is formed by various influences, including the impact of value added tax (VAT). This tax affects all final consumers, but it also affects the businesses themselves in setting their sales prices. The main goal of this paper is to analyze the impact of VAT on pricing and to prove the fact that VAT values affect both the payer and the non-payer of VAT, if they buy from the VAT payer. The purpose is to point out the difference in the selling price between these two entities and thus to prove the influence of VAT on their pricing. In this paper, the methods of induction and deduction were used, as well as methods of analysis and synthesis. Based on the performed analyzes, we proved the influence of VAT on the pricing of both the payer and the non-payer of VAT, while the difference is observable in the amount of their selling price and tax liability.

DECISION-MAKING ON INVESTMENT OF IT-INNOVATION BASED ON FUZZY EXPERT INFORMATION

2018 ◽  
pp. 103-111
Author(s):  
Olga Olegovna Eremenko ◽  
Lyubov Borisovna Aminul ◽  
Elena Vitalievna Chertina
Keyword(s):  
Decision Making ◽  
Individual Characteristics ◽  
Production Model ◽  
Investment Management ◽  
It Projects ◽  
Product Model ◽  
Project Cost ◽  
Reasoning System ◽  
Managerial Decisions ◽  
The Individual

The subject of the research is the process of making managerial decisions for innovative IT projects investing. The paper focuses on the new approach to decision making on investing innovative IT projects using expert survey in a fuzzy reasoning system. As input information, expert estimates of projects have been aggregated into six indicators having a linguistic description of the individual characteristics of the project type "high", "medium", and "low". The task of decision making investing has been formalized and the term-set of the output variable Des has been defined: to invest 50-75% of the project cost; to invest 20-50% of the project cost; to invest 10-20% of the project cost; to send the project for revision; to turn down investing project. The fuzzy product model of making investment management decisions has been developed; it adequately describes the process of investment management. The expediency of using constructed production model on a practical example is shown.

The transformation of the decision-making process on the part of economic agents influenced by social constraints

2020 ◽  
Vol 16 (7) ◽  
pp. 1202-1222
Author(s):  
M.V. Grechko ◽  
L.A. Kobina ◽  
S.A. Goncharenko
Keyword(s):  
Decision Making ◽  
Consumer Choice ◽  
Social Constraints ◽  
Decision Making Process ◽  
Economic Knowledge ◽  
Economic Agents ◽  
The Individual ◽  
Contextual Environment ◽  
Economic Constraints ◽  
External Signals

Subject. The article focuses on the decision-making mechanism used by economic agents given the existing social constraints. Objectives. We devise applied toolkit to study how socio-economic constraints transform the decision-making mechanism used by economic agents. Methods. The study involves means of the expert survey, the method that streamlines economic knowledge. Results. Social constraints are illustrated to influence the decision-making mechanism used by economic agents, assuming that the individual mind relies on specific mechanisms to make judgments and decisions. Generally, the mechanisms are very useful, however they may generate serious errors during the decision-making process. Given the social constraints, economic agents were found to follow four mental models to make their decisions in case of the full or partial uncertainty, i.e. the representative relevance, accessibility, relations, heuristics (modeling). Conclusions and Relevance. The scientific ideas herein show that the inner architecture of a choice an individual makes determines his or her decisions. The decisions often depend on the contextual environment that gives external signals perceived by the individual while evaluating alternative ways. The findings can possibly be used as a mechanism to manage the consumer choice.

Relative Efficiency of Decision Making Units Producing Both Desirable and Undesirable Outputs: A Case of Textile Processing Units in Pakistan.

2011 ◽  
Vol 50 (4II) ◽  
pp. 685-698
Author(s):  
Samina Khalil
Keyword(s):  
Decision Making ◽  
Data Envelopment Analysis ◽  
Relative Efficiency ◽  
Value Added ◽  
Data Envelopment ◽  
Undesirable Outputs ◽  
Textile Processing ◽  
Decision Making Unit ◽  
Desirable And Undesirable Outputs ◽  
Decision Making Units

This paper aims at measuring the relative efficiency of the most polluting industry in terms of water pollution in Pakistan. The textile processing is country‘s leading sub sector in textile manufacturing with regard to value added production, export, employment, and foreign exchange earnings. The data envelopment analysis technique is employed to estimate the relative efficiency of decision making units that uses several inputs to produce desirable and undesirable outputs. The efficiency scores of all manufacturing units exhibit the environmental consciousness of few producers is which may be due to state regulations to control pollution but overall the situation is far from satisfactory. Effective measures and instruments are still needed to check the rising pollution levels in water resources discharged by textile processing industry of the country. JEL classification: L67, Q53 Keywords: Data Envelopment Analysis (DEA), Decision Making Unit (DMU), Relative Efficiency, Undesirable Output

scholarly journals Decision Making from the Experience of Orthognathic Surgery Patients: A Grounded Theory Approach

2021 ◽  
pp. 238008442110144
Author(s):  
N.R. Paul ◽  
S.R. Baker ◽  
B.J. Gibson
Keyword(s):  
Decision Making ◽  
Grounded Theory ◽  
Treatment Options ◽  
Study Data ◽  
Primary Objective ◽  
Major Surgery ◽  
Future Research ◽  
Decision Making Process ◽  
Theory Approach

Introduction: Patients’ decisions to undergo major surgery such as orthognathic treatment are not just about how the decision is made but what influences the decision. Objectives: The primary objective of the study was to identify the key processes involved in patients’ experience of decision making for orthognathic treatment. Methods: This study reports some of the findings of a larger grounded theory study. Data were collected through face-to-face interviews of patients who were seen for orthognathic treatment at a teaching hospital in the United Kingdom. Twenty-two participants were recruited (age range 18–66 y), of whom 12 (male = 2, female = 10) were 6 to 8 wk postsurgery, 6 (male = 2, female = 4) were in the decision-making stage, and 4 (male = 0, female = 4) were 1 to 2 y postsurgery. Additional data were also collected from online blogs and forums on jaw surgery. The data analysis stages of grounded theory methodology were undertaken, including open and selective coding. Results: The study identified the central role of dental care professionals (DCPs) in several underlying processes associated with decision making, including legitimating, mediating, scheduling, projecting, and supporting patients’ decisions. Six categories were related to key aspects of decision making. These were awareness about their underlying dentofacial problems and treatment options available, the information available about the treatment, the temporality of when surgery would be undertaken, the motivations and expectation of patients, social support, and fear of the surgery, hospitalization, and potentially disliking their new face. Conclusion: The decision-making process for orthognathic treatment is complex, multifactorial, and heavily influenced by the role of DCPs in patient care. Understanding the magnitude of this role will enable DCPs to more clearly participate in improving patients’ decision-making process. The findings of this study can inform future quantitative studies. Knowledge Transfer Statement: The results of this study can be used both for informing clinical practice around enabling decision making for orthognathic treatment and also for designing future research. The findings can better inform clinicians about the importance of their role in the patients’ decision-making process for orthognathic treatment and the means to improve the patient experience. It is suggested that further research could be conducted to measure some of the key constructs identified within our grounded theory and assess how these change during the treatment process.

Application of PCA with georeferenced data in the tourism industry: A case study in the province of Córdoba, Argentina

2021 ◽  
pp. 135481662098768
Author(s):  
Laura I Luna
Keyword(s):  
Decision Making ◽  
Principal Components ◽  
Spatial Data ◽  
Local Development ◽  
Value Added ◽  
Tourism Industry ◽  
Methodological Innovation ◽  
Spatial Principal Components ◽  
Components Analysis

The spatial analysis of tourism industries provides information about their structure, which is necessary for decision-making. In this work, tourism industries in the departments of Córdoba province, Argentina, for the 2001–2014 period were mapped. Multivariate methods with and without spatial restrictions (spatial principal components (sPCs) analysis, MULTISPATI-PCA, and principal components analysis (PCA), respectively) were applied and their performance was compared. MULTISPATI-PCA yielded a higher degree of spatial structuring of the components that summarize tourism activities than PCA. The methodological innovation lies in the generation of statistics for multidimensional spatial data. The departments were classified according to the participation of tourism activities in the value added of tourism using the sPCs obtained as input of the cluster fuzzy k-means analysis. This information provides elements necessary for appropriately defining local development strategies and, therefore, is useful to improve decision-making.

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