scholarly journals BEHAVIORAL MODELS OF DECISION-MAKING BY BUSINESS AND INDUSTRY STAKEHOLDERS

2021 ◽  
Vol 5 (40) ◽  
pp. 300-313
Author(s):  
Е. Tereshchenko ◽  
N. Ushenko ◽  
M. Dielini ◽  
M. Nesterova ◽  
О. Lozhachevska ◽  
...  
Keyword(s):  
Decision Making ◽  
Quantitative Methods ◽  
Contract Theory ◽  
System Analysis ◽  
Resource Planning ◽  
Behavioral Model ◽  
Behavioral Effects ◽  
Practical Significance ◽  
Behavioral Models ◽  
Economic Management

Abstract. The purpose of the study is to substantiate the methodological toolkit for decision-making by business and industry stakeholders, which is based on the development of a dynamic multilateral model of a strategic contract, taking into account the alternatives of agent behavior. In order to achieve the purpose of the study were used following methods: system analysis, logical generalisation, statistical and comparative analysis, principles of contract theory of the firm, the concept of dynamic abilities, methods of the theory of active systems etc. According to findings it is actualized the expediency of the transformational development of transdisciplinarity between behavioral sciences and quantitative methods of management in the context of the development of the contract theory of a firm, namely, regarding the development of a methodological basis for decision-making by business and industry stakeholders. The effectiveness of the use of a dynamic multilateral model of a strategic contract is substantiated, which takes into account the behavioral models of the main stakeholders (investor-owner-employees) based on individual utility functions, which as a result connects three tasks that are consistently solved during each period. For the targeted use of the behavioral effects that arise between the parties to the contract in the process of its implementation, the proposed model of agency relations is based on the relationship between themselves and the overall results of the strategy. It is presented the options for planning the effectiveness of contracts for the interaction of agents based on the use of organizational and economic management tools, which are determined by them independently or under targeted influence in order to create additional behavioral prerequisites. The proposed dynamic multilateral model synthesizes the prerequisites, conditions for the effectiveness of decision-making by business and industry stakeholders in conditions of risk and uncertainty. It allows to consider several behavioral effects that arise between the parties to the contract, based on the individual usefulness of the contribution to the implementation of the business strategy. The practical significance of the obtained results manifests itself in the fact that the use of the developed decision-making models by business and industry stakeholders for the purpose of strategic resource planning based on the optimization of the use of organizational and economic resources will contribute to the concentration on the relevant behavioral aspects of agents and restrictions, taking into account the exchange between the internal and external environments. Keywords: behavioral model, decision-making, agent, stakeholder, strategic planning, contract efficiency, business, industry. JEL Classification A12, C52, D1 Formulas: 31; fig.: 1; tabl.: 0; bibl.: 27.

scholarly journals Concept of a Sustainable Economy of a Trade Enterprise

2020 ◽  
Vol 208 ◽  
pp. 03005
Author(s):  
Nadezhda Necheukhina ◽  
Olga Mustafina
Keyword(s):  
Decision Making ◽  
Economic System ◽  
Financial Stability ◽  
System Analysis ◽  
Practical Significance ◽  
Management Decision ◽  
Economic Stability ◽  
Return To Equilibrium ◽  
Management Decision Making ◽  
The Stability

The article presents the results of scientific research on the problem of system monitoring of sustainable development of the micro-level economic system. The authors prove that the stability of economic systems is characterized by the ability to return to equilibrium under the influence of external and internal factors. Currently, the problem of ensuring sustainable economic development is debatable and actively discussed. This circumstance determined the relevance of the chosen scientific direction of research, the purpose of which was to develop a scientifically based conceptual position of the economic and financial stability of the trade enterprise. The goal of the study was achieved by applying the constructive direction of system research (system analysis) in the framework of systems theory and decision-making. The scientific and practical significance of the presented results lies in the development of the authors ‘ conceptual position that provides an understanding of the problems of economic stability and the need for systematic, timely diagnosis, and subsequent management decision-making to reduce the risks of loss of stability of the economic system.

ONTOLOGY-BASED SEMANTIC VERIFICATION FOR UML BEHAVIORAL MODELS

2013 ◽  
Vol 23 (02) ◽  
pp. 117-145 ◽  
Author(s):  
HONGYUE HE ◽  
ZHIXUE WANG ◽  
QINGCHAO DONG ◽  
WEIZHONG ZHANG ◽  
WEIXING ZHU
Keyword(s):  
Description Logic ◽  
System Analysis ◽  
Formal Semantics ◽  
Behavioral Model ◽  
Model Verification ◽  
Behavioral Models ◽  
Analysis And Design ◽  
Requirements Modeling ◽  
Logic System

UML is now popularly applied as a requirements modeling language for software system analysis and design, and the dynamic behaviors of system are described in UML behavioral model. As the UML model suffers from lack of well-defined formal semantics, it is difficult to formally analyze and verify the behavioral model. The paper presents a method of UML behavioral model verification based on Description Logic system and its formal inference. The semantics of UML behavioral models is divided into static semantics and dynamic semantics, which are formally specified in OWL DL ontology and DL-Safe rules. To check the consistency of the behavioral models, the algorithms are provided for transforming UML behavioral models into OWL DL ontology, and hence model consistency can be verified through formal reasoning with a DL supporting reasoner Pellet. A case study is provided to demonstrate applicability of the method.

Behavioral Model to Understand Household-Level Hurricane Evacuation Decision Making

2011 ◽  
Vol 137 (5) ◽  
pp. 341-348 ◽  
Author(s):  
Samiul Hasan ◽  
Satish Ukkusuri ◽  
Hugh Gladwin ◽  
Pamela Murray-Tuite
Keyword(s):  
Decision Making ◽  
Behavioral Model ◽  
Hurricane Evacuation ◽  
Household Level

A Framework for Building Behavioral Models for Design-Stage Failure Identification Using Dimensional Analysis

2010 ◽  
Author(s):  
Eric Coatane´a ◽  
Tuomas Ritola ◽  
Irem Y. Tumer ◽  
David Jensen
Keyword(s):  
Dimensional Analysis ◽  
Behavioral Model ◽  
Qualitative Reasoning ◽  
Design Stage ◽  
Critical Event ◽  
Behavioral Models ◽  
New Approach ◽  
Design Variables ◽  
Qualitative Physics ◽  
Failure Identification

In this paper, a design-stage failure identification framework is proposed using a modeling and simulation approach based on Dimensional Analysis and qualitative physics. The proposed framework is intended to provide a new approach to model the behavior in the Functional-Failure Identification and Propagation (FFIP) framework, which estimates potential faults and their propagation paths under critical event scenarios. The initial FFIP framework is based on combining hierarchical system models of functionality and configuration, with behavioral simulation and qualitative reasoning. This paper proposes to develop a behavioral model derived from information available at the configuration level. Specifically, the new behavioral model uses design variables, which are associated with units and quantities (i.e., Mass, Length, Time, etc…). The proposed framework continues the work to allow the analysis of functional failures and fault propagation at a highly abstract system concept level before any potentially high-cost design commitments are made. The main contribution in this paper consists of developing component behavioral models based on the combination of fundamental design variables used to describe components and their units or quantities, more precisely describing components’ behavior.

Behavioral Models of Managerial Decision-Making

2011 ◽  
Author(s):  
Avi Goldfarb ◽  
Teck H. Ho ◽  
Wilfred Amaldoss ◽  
Alexander L. Brown ◽  
Yan Chen ◽  
...  
Keyword(s):  
Decision Making ◽  
Behavioral Models ◽  
Managerial Decision ◽  
Managerial Decision Making

scholarly journals MODELING AS A SCIENTIFIC TOOL FOR SUBSTANTIATION OF MANAGEMENT DECISIONS IN OPERATIONAL ACTIVITIES OF TRANSPORT ENTERPRISES

2021 ◽  
Vol 49 (2) ◽  
pp. 162-172
Author(s):  
Snizhko L ◽  
◽  
Buzun T ◽  
Razvodovska V ◽  
◽  
...  
Keyword(s):  
Decision Making ◽  
System Analysis ◽  
Management Decision ◽  
Decision Making Process ◽  
Management Decisions ◽  
Legal Form ◽  
Operational Decisions ◽  
Operational Activities ◽  
Problem Formalization ◽  
Scientific Tool

On the basis of analysis of existing approaches to the process of decision making, in this article the procedure of taking optimal operational decisions is proposed, which describes in detail all of its aspects and features related to the specifics of the operational activities of transport enterprises. In this procedure the basic steps are those directly related to the modeling: formulation of the problem (formalization of the original problem), construction of the model, its solution, credibility and adequacy check, restoration (or adjustment) of the model. The object of the research is decision-making process in the operational management of transport enterprises. The purpose of the research is to develop a procedure for the process of making optimal operational decisions based on existing approaches to the decision-making process, using modeling as a scientific tool to substantiate them. The research method is methods of system analysis and modeling. It has been discovered that the need to reduce the subjectivity of the process of making important decisions in the operational activities of transport enterprises and increase its scientific validity is especially relevant today, in the face of threats and uncertainty about the external environment of the organization. All methods of rational decision-making are based on models, which, in turn, are scientific tools. Modeling creates a serious informational and methodological basis for structural analysis of decisions needed to improve the management process for operational managers and hence - to increase the level of management in general, because it makes them more systematic, and the tools used during this help them be more rational. The results of the article can be implemented during making complex and important management decisions in the operational activities of both transport enterprises and other business entities of various activities, regardless of the organizational and legal form and ownership. KEY WORDS: MODELING METHOD, MODELING, MODEL, TRANSPORT ENTERPRISE, OPERATIONAL ACTIVITY, OPERATIONS MANAGER, MANAGEMENT DECISION.

scholarly journals The challenge of bringing evidence in decision-making for public health emergencies: can preparedness reach out to HTA?

2020 ◽  
Vol 30 (Supplement_5) ◽  
Author(s):  
C E Chronaki ◽  
A Miglietta
Keyword(s):  
Public Health ◽  
Decision Making ◽  
Policy Development ◽  
Digital Health ◽  
Resource Planning ◽  
Public Health Emergency ◽  
Evidence Based ◽  
Public Health Emergencies ◽  
The Impact ◽  
Evidence Based Decision Making

Abstract Evidence-based decision-making is central to public health. Implementing evidence-informed actions is most challenging during a public health emergency as in an epidemic, when time is limited, scientific uncertainties and political pressures tend to be high, and reliable data is typically lacking. The process of including data for preparedness and training for evidence-based decision making in public health emergencies is not systematic and is complicated by many barriers as the absence of common digital tools and approaches for resource planning and update of response plans. Health Technology Assessment (HTA) is used with the aim to improve the quality and efficiency of public health interventions and to make healthcare systems more sustainable. Many of today's public health crises are also cross-border, and countries need to collaborate in a systematic and standardized way in order to enhance interoperability to share data and to plan coordinated response. Digital health tools have an important role to play in this setting, facilitating use of knowledge about the population that can potentially affected by the crisis within and across regional and national borders. To strengthen the impact of scientific evidence on decision-making for public health emergency preparedness and response, it is necessary to better define and align mechanisms through which interdisciplinary evidence feeds into decision-making processes during public health emergencies and the context in which these mechanisms operate. Activities and policy development in the HTA network could inform this process. The objective of this presentation is to identify barriers for evidence-based decision making during public health emergencies and discuss how standardization in digital health and HTA processes may help overcome these barriers leading to more effective coordinated and evidence-based public health emergency response.

scholarly journals Can inflation forecast and monetary policy path be really useful? The case of the Czech Republic

Equilibrium ◽  
2015 ◽  
Vol 10 (3) ◽  
pp. 9 ◽  
Author(s):  
Magdalena Szyszko ◽  
Karolina Tura
Keyword(s):  
Decision Making ◽  
Monetary Policy ◽  
Qualitative Analysis ◽  
Central Bank ◽  
Quantitative Methods ◽  
Inflation Expectations ◽  
The Czech Republic ◽  
Inflation Forecasts ◽  
National Bank ◽  
Parametric Statistics

Producing and revealing inflation forecast is believed to be the best way of implementing a forward-looking monetary policy. The article focuses on inflation forecast targeting (IFT) at the Czech National Bank (CNB) in terms of its efficiency in shaping consumers’ inflation expectations. The goal of the study is to verify the accuracy of the inflation forecasts, and their influence on inflation expectations. The research is divided into four stages. At the first stage, central bank credibility is examined. At the second stage – accuracy of the inflation forecasts. The next step of the research covers a qualitative analysis of IFT implementation. Finally, the existence of the interdependences of inflation forecast, optimal policy paths and inflation expectations is analyzed. Credibility of the central bank, accuracy of the forecast and decision-making procedures focused on the forecast are the premises for the existence of relationship between forecasts and expectations. The research covers the period from July 2002 – till the end of 2013. Its methodology includes qualitative analysis of decision-making of the CNB, quantitative methods (Kia and Patron formula, MAE forecasts errors, quantification of expectations, non-parametric statistics). The results confirm the existence of interdependences between inflation forecasts and expectations of moderate strength. The preconditions of such interdependences are partially fulfilled. The research opens the field for cross-country comparisons and for quantification of IFT implementation.

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