scholarly journals Choice Quality as a Function of Decision Accuracy and Search Cost

2019 ◽  
Author(s):  
Reza Rastgoo Sisakht ◽  
Shabnam Mousavi ◽  
Rahimeh Negarandeh ◽  
Hamid Valizadegan ◽  
Maryam Noroozian ◽  
...  
Keyword(s):  
Decision Making ◽  
Cost Benefit ◽  
Expected Value ◽  
Process Tracing ◽  
Search Cost ◽  
Incorrect Choice ◽  
Analysis Of Results ◽  
The Cost ◽  
Male Subjects

Objective: A prominent challenge in modeling choice is specification of the underlying cognitive processes. Many cognitive-based models of decision-making draw substantially on algorithmic models of artificial intelligence and thus rely on associated metaphors of this field. In contrast, the current study avoids metaphors and aims at a first-hand identification of the behavioral elements of a process of choice. Method: We designed a game in Mouselab resembling the real-world procedure of choosing a wife. 17 male subjects were exposed to cost-benefit decision criteria that closely mimic their societal respective conditions. Results: The quality of choice index was measured with respect to its sensitivity to the final outcomes as well as process tracing of decisions. The correlation between this index and individual components of process tracing are discussed in detail. The choice quality index can be configured as a function of expected value and utility. In our sample the quality of choice with an average of 75.98% (SD: ±12.67) suggests that subjects obtained close to 76% of their expected gains. Conclusion: The quality of choice index, therefore, may be used for comparison of different conditions where the variables of decision-making are altered. The analysis of results also reveals that the cost of incorrect choice is significantly correlated with expected value (0.596, sig = 0.012) but not with utility. This means that when sub-jects face higher costs prior to making a decision, there exists a corresponding higher expectation of gains, i.e., higher expected value.

scholarly journals ANN-Based Decision Making in Station Keeping for Geotechnical Drilling Vessel

2021 ◽  
Vol 9 (6) ◽  
pp. 596
Author(s):  
Murugan Ramasamy ◽  
Mohammed Abdul Hannan ◽  
Yaseen Adnan Ahmed ◽  
Arun Kr Dev
Keyword(s):  
Decision Making ◽  
Water Depth ◽  
Business Models ◽  
Cost Benefit ◽  
Cost Effective ◽  
Station Keeping ◽  
Operational Information ◽  
Effective Option ◽  
The Cost ◽  
Cost Factors

Offshore vessels (OVs) often require precise station-keeping and some vessels, for example, vessels involved in geotechnical drilling, generally use Spread Mooring (SM) or Dynamic Positioning (DP) systems. Most of these vessels are equipped with both systems to cover all ranges of water depths. However, determining which system to use for a particular operational scenario depends on many factors and requires significant balancing in terms of cost-benefit. Therefore, this research aims to develop a platform that will determine the cost factors for both the SM and DP station-keeping systems. Operational information and cost data are collected for several field operations, and Artificial Neural Networks (ANN) are trained using those data samples. After that, the trained ANN is used to predict the components of cost for any given environmental situation, fieldwork duration and water depth. Later, the total cost is investigated against water depth for both DP and SM systems to determine the most cost-effective option. The results are validated using two operational scenarios for a specific geotechnical vessel. This decision-making algorithm can be further developed by adding up more operational data for various vessels and can be applied in the development of sustainable decision-making business models for OVs operators.

scholarly journals Ultrasound scan as a potential source of nosocomial and cross-infection: a literature review

2015 ◽  
Vol 48 (5) ◽  
pp. 319-323 ◽  
Author(s):  
André Hadyme Miyague ◽  
Fernando Marum Mauad ◽  
Wellington de Paula Martins ◽  
Augusto César Garcia Benedetti ◽  
Ana Elizabeth Gomes de Melo Tavares Ferreira ◽  
...  
Keyword(s):  
Literature Review ◽  
Cost Benefit ◽  
Cross Infection ◽  
Ultrasound Scan ◽  
Benefit Ratio ◽  
Source Of Infection ◽  
Potential Source ◽  
Cost Benefit Ratio ◽  
The Cost

AbstractThe authors review the main concepts regarding the importance of cleaning/disinfection of ultrasonography probes, aiming a better comprehension by practitioners and thus enabling strategies to establish a safe practice without compromising the quality of the examination and the operator productivity. In the context of biosafety, it is imperative to assume that contact with blood or body fluids represents a potential source of infection. Thus, in order to implement cleaning/disinfection practice, it is necessary to understand the principles of infection control, to consider the cost/benefit ratio of the measures to be implemented, and most importantly, to comprehend that such measures will not only benefit the health professional and the patient, but the society as a whole.

scholarly journals Active cutaneous warming systems to prevent intraoperative hypothermia: a systematic review

2012 ◽  
Vol 20 (1) ◽  
pp. 183-191 ◽  
Author(s):  
Vanessa de Brito Poveda ◽  
Edson Zangiacomi Martinez ◽  
Cristina Maria Galvão
Keyword(s):  
Systematic Review ◽  
Decision Making ◽  
Body Temperature ◽  
Cost Benefit ◽  
Controlled Trials ◽  
Decision Making Process ◽  
Circulating Water ◽  
Randomized Controlled ◽  
Intraoperative Hypothermia ◽  
The Cost

This study analyzed the evidence available in the literature concerning the effectiveness of different active cutaneous warming systems to prevent intraoperative hypothermia. This is a systematic review with primary studies found in the following databases: CINAHL, EMBASE, Cochrane Register of Controlled Trials and Medline. The sample comprised 23 randomized controlled trials. There is evidence in the literature indicating that the circulating water garment system is the most effective in maintaining patient body temperature. These results can support nurses in the decision-making process concerning the implementation of effective measures to maintain normothermia, though the decision of health services concerning which system to choose should also take into account its cost-benefit status given the cost related to the acquisition of such systems.

scholarly journals The Cost of Information in Dependence on the Investor Relation to the Risk

2012 ◽  
Vol 11 (1) ◽  
pp. 73-85
Author(s):  
Simona Hašková
Keyword(s):  
Decision Making ◽  
Utility Theory ◽  
Investment Decision ◽  
Investment Decisions ◽  
Reliable Estimate ◽  
Ordinary People ◽  
Cardinal Utility ◽  
Finance Theory ◽  
The Cost

Abstract The contribution sets simple mathematic models describing and explaining the way of behavior of various types of investors (the private and institutionalized ones). The models come from the cardinal utility theory which is used for explaining the connection between the subjective relationship towards risk and some pathologic phenomenon of finance theory (for example the moral hazard question of institutionalized investors) and takes into account the decision making of both ordinary people and professional investors. A reliable estimate of the economic surroundings where the investment should run contributes significantly to a quality of the particular investment decisions. The article contributes to a quality of the investment decision by the original and primary approach to pricing information that lowers the uncertainty in occurrences of the relevant scenarios of the project’s development. At the conclusion there is shown how the shift of the decision breaking point shapes the amount of the acceptable price of the information.

scholarly journals Are the Triptans for Migraine Therapy Worth the Cost?

2000 ◽  
Vol 27 (2) ◽  
pp. 111-115 ◽  
Author(s):  
W.J. Becker
Keyword(s):  
Quality Of Life ◽  
Significant Proportion ◽  
Cost Benefit ◽  
New Drugs ◽  
Major Advance ◽  
Improve Quality ◽  
Migraine Therapy ◽  
The Cost ◽  
Severe Migraine

ABSTRACT:The triptans represent a major advance in migraine therapy but their cost per dose greatly exceeds that of many older treatments. There is evidence that for a significant proportion of migraine patients these new drugs can show a positive cost benefit and also improve quality of life. Cost benefit would be expected to be greatest in patients with more severe migraine attacks.

Do family meetings for hospitalised palliative care patients improve outcomes and reduce health care costs? A cluster randomised trial

2020 ◽  
pp. 026921632096728
Author(s):  
Peter Hudson ◽  
Afaf Girgis ◽  
Kristina Thomas ◽  
Jennifer Philip ◽  
David C Currow ◽  
...  
Keyword(s):  
Palliative Care ◽  
End Of Life Care ◽  
Randomised Trial ◽  
Cost Benefit ◽  
Cluster Randomised Trial ◽  
Family Meetings ◽  
Cluster Randomised ◽  
Health Utilisation ◽  
The Cost

Background: Family meetings facilitate the exploration of issues and goals of care however, there has been minimal research to determine the benefits and cost implications. Aims: To determine: (1) if family caregivers of hospitalised patients referred to palliative care who receive a structured family meeting report lower psychological distress (primary outcome), fewer unmet needs, improved quality of life; feel more prepared for the caregiving role; and receive better quality of end-of-life care; (2) if outcomes vary dependant upon site of care and; (3) the cost-benefit of implementing meetings into routine practice. Design: Pragmatic cluster randomised trial involving palliative care patients and their primary family caregivers at three Australian hospitals. Participants completed measures upon admission (Time 1); 10 days later (Time 2) and two months after the patient died (Time 3). Regression analyses, health utilisation and process evaluation were conducted. Results: 297 dyads recruited; control ( n = 153) and intervention ( n = 144). The intervention group demonstrated significantly lower psychological distress (Diff: –1.68, p < 0.01) and higher preparedness (Diff: 3.48, p = 0.001) at Time 2. No differences were identified based on quality of end of life care or health utilisation measures. Conclusions: Family meetings may be helpful in reducing family caregiver distress and enhancing their preparedness for the caregiving role and it appears they may be conducted without increased hospital health utilisation impacts; although opportunity costs need to be considered in order to routinely offer these as a standardised intervention. Additional health economic examination is also advocated to comprehensively understand the cost-benefit implications. Trial Registration: Australian and New Zealand Clinical Trials Registry ACTRN12615000200583

scholarly journals Modeling of Artificial Groundwater Recharge by Wells: A Model Stratified Porous Medium

Mathematics ◽  
2020 ◽  
Vol 8 (10) ◽  
pp. 1764 ◽  
Author(s):  
Carlos Fuentes ◽  
Carlos Chávez ◽  
Antonio Quevedo ◽  
Josué Trejo-Alonso ◽  
Sebastián Fuentes
Keyword(s):  
Decision Making ◽  
Porous Medium ◽  
Artificial Recharge ◽  
Cost Benefit ◽  
Field Measurements ◽  
Stratified Media ◽  
Artificial Groundwater Recharge ◽  
Industrial Activities ◽  
Groundwater Levels ◽  
The Cost

In recent years, groundwater levels have been decreasing due to the demand in agricultural and industrial activities, as well as the population that has grown exponentially in cities. One method of controlling the progressive lowering of the water table is the artificial recharge of water through wells. With this practice, it is possible to control the amount of water that enters the aquifer through field measurements. However, the construction of these wells is costly in some areas, in addition to the fact that most models only simulate the well as if it were a homogeneous profile and the base equations are restricted. In this work, the amount of infiltrated water by a well is modeled using a stratified media of the porous media methodology. The results obtained can help decision-making by evaluating the cost benefit of the construction of wells to a certain location for the recharge of aquifers.

Reimagining the Humble but Mighty Pen: Quality Measurement and Naturalistic Decision Making

2018 ◽  
Vol 12 (3) ◽  
pp. 198-201 ◽  
Author(s):  
Eric C. Schneider
Keyword(s):  
Decision Making ◽  
Best Practices ◽  
Pay For Performance ◽  
Quality Measurement ◽  
Daily Practice ◽  
Cost Of Care ◽  
Naturalistic Decision Making ◽  
Joint Decisions ◽  
The Cost

Much of the health system’s avoidable spending may be driven by doctors’ decision making. Past studies demonstrated potentially consequential and costly inconsistencies between the actual decisions that clinicians make in daily practice and optimal evidence-based decisions. This commentary examines the “best practices regimen” through the lens of the quality measurement movement.  Although quality measures have proliferated via public reporting and pay-for-performance programs, evidence for their impact on quality of care is scant; the cost of care has continued to rise; and the environment for clinical decisions may not have improved. Naturalistic decision making offers a compelling alternative conceptual frame for quality measurement. An alternative quality measurement system could build on insights from naturalistic decision making to optimize doctors’ and patients’ joint decisions, improve patients’ health outcomes, and perhaps slow the growth of health care spending in the future.

scholarly journals S119. A DIMENSIONAL APPROACH TO UNDERSTANDING COST-BENEFIT DECISION-MAKING IN SCHIZOPHRENIA AND DEPRESSION

2020 ◽  
Vol 46 (Supplement_1) ◽  
pp. S80-S80
Author(s):  
Sarah Saperia ◽  
Daniel Felsky ◽  
Susana Da Silva ◽  
Ishraq Siddiqui ◽  
Zafiris Daskalakis ◽  
...  
Keyword(s):  
Decision Making ◽  
Cluster Analysis ◽  
Individual Differences ◽  
Reward Magnitude ◽  
Cost Benefit ◽  
Choice Behaviour ◽  
Healthy Control ◽  
The Subject ◽  
The Cost ◽  
Relevant Cost

Abstract Background Reductions in motivation figure prominently in the clinical presentation of schizophrenia (SZ) and major depressive disorder (MDD). One critical nexus in the motivation system that drives real-world behaviour is effort-based decision-making (EBDM), which refers to the cost-benefit calculations involved in computing the amount of effort one is willing to expend in order to obtain a desired reward. Important individual differences are associated with these processes, and impairments in motivation can arise if any relevant cost-benefit information is not properly computed, appraised, or integrated. Thus, in order to better understand the computations guiding choice behaviour, the present study sought to utilize a more person-centric approach to characterize individual differences in the effort-cost computations that underlie cost-benefit decision-making in individuals with SZ and MDD. Methods A sample of 51 individuals with SZ, 43 individuals with MDD, and 51 healthy control (HC) participants underwent a comprehensive clinical and cognitive characterization, and completed the Effort Expenditure for Rewards Task (EEfRT) as a measure of EBDM. Random effects modelling was conducted to estimate the subject-specific predictors of reward magnitude, probability, and perceived cost on choice behaviour. Cluster analysis was subsequently applied to these predictors in order to identify subtypes of impairments within the entire sample, irrespective of diagnostic status. Results Data-driven cluster analysis identified unique subgroups of individuals with distinct patterns of utilizing cost-benefit information to guide effort-based decision-making. Analyses of variance revealed significant differences between clusters with respect to their utilization of reward (F (3, 133) = 51.58, p &lt; .001), probability (F (3, 133) = 48.71, p &lt; .001), and cost (F (3, 133) = 45.24, p &lt; .001). The first cluster was characterized by an indifference to all cost-benefit information, the second cluster was more influenced by perceived cost, the third cluster demonstrated a preference for reward-based information, and the fourth cluster mainly utilized probability to guide their decision-making. While the clusters did not differ in their severity of clinical amotivation (p = .11), there was a significant effect for cognition, specifically with impairments in clusters 1 and 2. All diagnostic groups were represented in each cluster, but the distribution of SZ, MDD, and HC participants was significantly different (X2 (6, N = 137) = 16.18, p = .013). Discussion The emergence of four distinct subgroups in our sample suggests that there are individual differences amongst SZ, MDD, and HC participants in their utilization of cost-benefit information to guide choice behaviour. Moreover, with elevated levels of clinical amotivation present in all four clusters, it is possible that these unique cost-benefit decision-making patterns represent different underlying motivational impairments, the nature of which depending on how reward magnitude, probability, and perceived cost are weighed. Thus, by characterizing the specific mechanisms underlying EBDM in SZ and MDD, the results of this work may be able to help guide the identification of more precise targets for the effective treatment of motivation deficits.

scholarly journals Verification as a service to bring more transparency on forecast accuracy to weather services and users

2021 ◽  
Author(s):  
Evelyn Müller ◽  
Jan Hoffmann ◽  
Dennis Schulze
Keyword(s):  
Forecast Accuracy ◽  
Cost Benefit ◽  
Forecast Horizon ◽  
Weather Forecasts ◽  
Industry Applications ◽  
Cost Benefit Ratio ◽  
The Cost ◽  
Available Information ◽  
Forecast Quality

&lt;p&gt;Actual, continuously available information on the accuracy of forecasts can support both weather services and users of forecasts in quality assurance during operations and identify systematic weaknesses. Comparing the forecast success of different forecasting methods allows decision makers in the weather service and on the user side to evaluate the cost-benefit ratio of available forecasting approaches, be it different models, DMO and post-processing, or different providers. Finally, in addition to on-off experiments for version comparison, the success of developments to the forecast system can be seen in the comparison of time series of verification results against those of other forecasts.&amp;#160;&lt;/p&gt;&lt;p&gt;From the development of the forecasting process to daily operations to the use of forecasts in subsequent industry applications, stakeholders have very different questions about the quality of weather forecasts. From the weather room, there is a particular need for up-to-date information on the previous day's forecast success and rapid access to case verification analyses following unusual events. Especially in B2B, case-specific comparison with the success of other forecasts is also in demand. For management, on the other hand, longer-term trends in forecast quality are the focus of interest. Finally, users often base their choice of a forecasting provider not only on procurement costs and convenience of access, but also take into account the current forecast accuracy of their relevant parameters, in their region, in the forecast horizon relevant to them. Especially weather-sensitive industries such as road weather services, energy production and transmission, but also media often agree with forecast suppliers on continuous monitoring of forecast quality.&amp;#160;&lt;/p&gt;&lt;p&gt;We present different perspectives and questions and show possible answers as use cases in a verification portal.&lt;/p&gt;

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