scholarly journals Warren Buffett Faces Insider Trading: A Case Study

10.28945/4631 ◽  
2020 ◽  
Vol 4 ◽  
pp. 143-156
Author(s):  
Christian G Koch
Keyword(s):  
Decision Making ◽  
Insider Trading ◽  
Media Coverage ◽  
Decision Making Problem ◽  
Core Elements

In March 2011, Warren Buffett stepped into chaos. The Chairman of one of Berkshire Hathaway subsidiaries, David Sokol, had resigned his position, but there was more to the story. As soon as Buffett is informed of the insider trading claim, the situation turns into a decision-making problem with four core elements: 1) Managerially difficult; 2) Emotionally charged; 3) Intense media coverage; 4) Ethical and moral paradox. This case study explores the issues and Buffett’s response to the insider trading example.

An Integrated Intuitionistic Fuzzy MCDM Approach to Select Cloud-Based ERP System for SMEs

2019 ◽  
Vol 18 (06) ◽  
pp. 1875-1908
Author(s):  
Akshay Hinduja ◽  
Manju Pandey
Keyword(s):  
Decision Making ◽  
Decision Makers ◽  
Managerial Decision ◽  
Erp System ◽  
Intuitionistic Fuzzy ◽  
Decision Making Problem ◽  
Fuzzy Preference Relations ◽  
Priority Method ◽  
Selection Of

ERP system is a software package that integrates and manages all the facets of the business and deeply influences the success of a business endeavor. The increasing competition in the market, rapidly changing demands, and increasing intricacy of business procedures induce enterprises to adopt ERP solutions. Adopting an ERP solution increases synchronization between business activities and reinforces managerial decision-making. However, it also involves a large investment, a significant amount of human resources and time, and risk of failure. Therefore, the selection of an ERP solution is a crucial decision for enterprises. To address this decision-making problem, we propose a four-stage multi-criteria decision-making approach in this paper. Three prevalent MCDM techniques, DEMATEL, IF-ANP, and IF-AHP, are used in different stages of the methodology to achieve better outcomes. The methodology incorporates the intuitionistic fuzzy sets to capture uncertainty and hesitancy involved in decision makers’ judgments. In addition, we develop a novel priority method to derive weights from the intuitionistic fuzzy preference relations. To validate the feasibility of the proposed approach, a case study is carried out on the selection of cloud-based ERP system for SMEs in the Chhattisgarh state of India, which indicates that the proposed four-stage approach effectively handles the ERP selection problem.

scholarly journals FINDING A PROMISING VENTURE CAPITAL PROJECT WITH TODIM UNDER PROBABILISTIC HESITANT FUZZY CIRCUMSTANCE

2018 ◽  
Vol 24 (5) ◽  
pp. 2026-2044 ◽  
Author(s):  
Weike Zhang ◽  
Jiang Du ◽  
Xiaoli Tian
Keyword(s):  
Decision Making ◽  
Group Decision ◽  
Venture Capitalists ◽  
Fuzzy Information ◽  
Investment Environment ◽  
Limited Ability ◽  
Risk Seeking ◽  
Decision Making Problem ◽  
Criteria Weights

Considering the risk aversion for gains and the risk seeking for losses of venture capitalists, the TODIM has been chosen as the decision-making method. Moreover, group decision is an available way to avoid the limited ability and knowledge etc. of venture capitalists. Simultaneously, venture capitalists may be hesitant among several assessed values with different probabilities to express their real perception because of the uncertain decision-making environment. However, the probabilistic hesitant fuzzy information can solve such problems effectively. Therefore, the TODIM has been extended to probabilistic hesitant fuzzy circumstance for the sake of settling the decision-making problem of venture capitalists in this paper. Moreover, due to the uncertain investment environment, the criteria weights are considered as probabilistic hesitant fuzzy information as well. Then, a case study has been used to verify the feasibility and validity of the proposed TODIM. Also, the TODIM with hesitant fuzzy information has been carried out to analysis the same case. From the comparative analysis, the superiority of the proposed TODIM in this paper has already appeared.

scholarly journals COMBINING THE SUITABILITY-FEASIBILITY-ACCEPTABILITY (SFA) STRATEGY WITH THE MCDM APPROACH

2021 ◽  
Vol 19 (3) ◽  
pp. 579
Author(s):  
Sarfaraz Hashemkhani Zolfani ◽  
Ramin Bazrafshan ◽  
Parnian Akaberi ◽  
Morteza Yazdani ◽  
Fatih Ecer
Keyword(s):  
Decision Making ◽  
United Arab Emirates ◽  
Multiple Criteria Decision Making ◽  
Target Market ◽  
Fish Market ◽  
Decision Making Problem ◽  
Criteria Weights ◽  
Cost Of Transportation ◽  
Selection Of

Suitability-Feasibility-Acceptability (SFA) is a fundamental tool for the development and selection of strategy. Any type of decision-making problem can be resolved by Multiple Criteria Decision Making (MCDM) methods. In this research, we explore the complexity of determining the proper goal market for the Chilean fish market. This study proposed a combined approach of SFA with MCDM methods in a real case study. The proposed structure helps to assign the best market for Chilean export fish to West Asia. Three countries (Saudi Arabia, the United Arab Emirates, and Oman) are selected as a target market in this region, and then related criteria are obtained from various sources. In order to develop a new market for the Chilean fishery industry, five major criteria, including the potential of a target market, region's economic attractiveness, consumption of the seafood, location, cost of transportation, and country risks, were selected based on the SFA framework. Calculating the criteria weights is performed by the Best-Worst (BWM) method, and ordering the alternatives is operated by Measurement Alternatives and Ranking according to compromise Solution (MARCOS) methods. The results showed that Oman is the best destination (importer) for the Chilean fish market (Salmon fish as the case).

scholarly journals Development of a Decision-Making Framework for Distributed Energy Systems in a German District

Energies ◽  
2020 ◽  
Vol 13 (3) ◽  
pp. 552 ◽  
Author(s):  
Lucas Schmeling ◽  
Patrik Schönfeldt ◽  
Peter Klement ◽  
Steffen Wehkamp ◽  
Benedikt Hanke ◽  
...  
Keyword(s):  
Decision Making ◽  
Stakeholder Participation ◽  
Dynamic Mode ◽  
Distributed Energy ◽  
Research Gaps ◽  
Simulation Tools ◽  
The Core ◽  
Core Elements ◽  
Decision Making Framework

The planning and decision-making for a distributed energy supply concept in complex actor structures like in districts calls for the approach to be highly structured. Here, a strategy with strong use of energetic simulations is developed, the core elements are presented, and research gaps are identified. The exemplary implementation is shown using the case study of a new district on the former Oldenburg airbase in northwestern Germany. The process is divided into four consecutive phases, which are carried out with different stakeholder participation and use of different simulation tools. Based on a common objective, a superstructure of the applicable technologies is developed. Detailed planning is then carried out with the help of a multi-objective optimal sizing algorithm and Monte Carlo based risk assessment. The process ends with the operating phase, which is to guarantee a further optimal and dynamic mode of operation. The main objective of this publication is to present the core elements of the planning processes and decision-making framework based on the case study and to find and identify research gaps that will have to be addressed in the future.

scholarly journals Type-2 Multi-Fuzzy Sets and Their Applications in Decision Making

Symmetry ◽  
2019 ◽  
Vol 11 (2) ◽  
pp. 170 ◽  
Author(s):  
Mohuya B. Kar ◽  
Bikashkoli Roy ◽  
Samarjit Kar ◽  
Saibal Majumder ◽  
and Dragan Pamucar
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Imperfect Information ◽  
Real Life ◽  
Distance Measures ◽  
Expert Assessment ◽  
Decision Making Problem ◽  
Medical Diagnosis System

In a real-life scenario, it is undoable and unmanageable to solve a decision-making problem with the single stand-alone decision-aid method, expert assessment methodology or deterministic approaches. Such problems are often based on the suggestions or feedback of several experts. Usually, the feedback of these experts are heterogeneous imperfect information collected from various more or less reliable sources. In this paper, we introduce the concept of multi-sets over type-2 fuzzy sets. We have tried to propose an extension of type-1 multi-fuzzy sets into a type-2 multi-fuzzy set (T2MFS). After defining T2MFS, we discuss the algebraic properties of these sets including set-theoretic operations such as complement, union, intersection, and others with examples. Subsequently, we define two distance measures over these sets and illustrate a decision-making problem which uses the idea of type-2 multi-fuzzy sets. Furthermore, an application of a medical diagnosis system based on multi-criteria decision making of T2MFS is illustrated with a real-life case study.

Data Mining in Decision Support for Bioenergy Production

2010 ◽  
pp. 1091-1108
Author(s):  
Nasser Ayoub ◽  
Yuji Naka
Keyword(s):  
Data Mining ◽  
Decision Making ◽  
Decision Support ◽  
Decision Support Tool ◽  
Geographical Information ◽  
Support Tool ◽  
Bioenergy Production ◽  
Decision Making Problem ◽  
Biomass Resources

This chapter presents Data Mining, DM, as a planning and decision support tool for biomass resources management to produce bioenergy. Furthermore, the decision making problem for bioenergy production is defined. A Decision Support System, DSS that utilizes a DM technique, e.g. clustering, integrated with other group of techniques and tools, such as Genetic Algorithms, GA, Life Cycle Assessment, Geographical Information System, GIS, etc, is presented. A case study that shows how to tackle the decision making problem is also shown.

Multi-attribute Group Decision-making (MAGDM) using Fuzzy Linguistic Modeling Integrated with the VIKOR Method for Car Purchasing Model

2022 ◽  
Vol 14 (1) ◽  
pp. 0-0
Keyword(s):  
Decision Making ◽  
Group Decision ◽  
Decision Makers ◽  
Decision Making Process ◽  
Vikor Method ◽  
Decision Making Problem ◽  
Purchasing Model ◽  
The Individual ◽  
Fuzzy Linguistic

The change in the trend of transportation, increasing per capita income, expectation of better lifestyle, easy finance, and reduced cost of the automobile are some of the main factors that enable a commoner to have his/her own car. Therefore, it is essential to comprise such features in cars that offer qualities enabling the ease of consumer’s decision-making and comfort to purchase a car individually. Purchasing a car is a complicated multi-criteria decision-making problem as an individual may have different preferences for different criteria attributes. The attributes may be conflicting in nature depending on the need of the individual customer. Generally, it becomes quite difficult to assign ratings to these attributes based on numeric values. Therefore, the decision-making process relies on an idiosyncratic finding of the decision-makers which is in practice fuzzy with uncertainities. Hence, this article is a case study that deals with a hierarchy MCDM approach in accordance with the fuzzy logic and VIKOR method to solve a car purchasing problem.

scholarly journals Development of a Decision-Making Framework for Distributed Energy Systems in a German District

2020 ◽  
Author(s):  
Lucas Schmeling ◽  
Patrik Schönfeldt ◽  
Peter Klement ◽  
Steffen Wehkamp ◽  
Benedikt Hanke ◽  
...  
Keyword(s):  
Decision Making ◽  
Stakeholder Participation ◽  
Dynamic Mode ◽  
Distributed Energy ◽  
Research Gaps ◽  
Simulation Tools ◽  
The Core ◽  
Core Elements ◽  
Decision Making Framework

The planning and decision-making for a distributed energy supply concept in complex actor structures like in districts calls for the approach to be highly structured. Here, a strategy with strong use of energetic simulations is developed, the core elements are presented and research gaps are identified. The exemplary implementation is shown using the case study of a new district on the former Oldenburg airbase in northwestern Germany. The process is divided into four consecutive phases, which are carried out with different stakeholder participation and use of different simulation tools. Based on a common objective, a superstructure of the applicable technologies is developed. Detailed planning is then carried out with the help of a multi-objective optimal sizing algorithm and Monte Carlo based risk assessment. The process ends with the operating phase, which is to guarantee a further optimal and dynamic mode of operation. The main objective of this publication is present the core elements of the planning processes and decision-making framework based on the case study and to find and identify research gaps that will have to be addressed in the future.

Data Mining in Decision Support for Bioenergy Production

2010 ◽  
pp. 235-253
Author(s):  
Nasser Ayoub ◽  
Yuji Naka
Keyword(s):  
Data Mining ◽  
Decision Making ◽  
Decision Support ◽  
Decision Support Tool ◽  
Geographical Information ◽  
Support Tool ◽  
Bioenergy Production ◽  
Decision Making Problem ◽  
Biomass Resources

This chapter presents Data Mining, DM, as a planning and decision support tool for biomass resources management to produce bioenergy. Furthermore, the decision making problem for bioenergy production is defined. A Decision Support System, DSS that utilizes a DM technique, e.g. clustering, integrated with other group of techniques and tools, such as Genetic Algorithms, GA, Life Cycle Assessment, Geographical Information System, GIS, etc, is presented. A case study that shows how to tackle the decision making problem is also shown.

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