scholarly journals Analytical Framework for Homeowner-Focused Computational Cost-Benefit Mitigation Decision Making

2021 ◽  
Vol 6 ◽  
Author(s):  
Fatemeh Orooji ◽  
Carol J. Friedland
Keyword(s):  
Decision Making ◽  
Hazard Mitigation ◽  
Cost Benefit ◽  
The United States ◽  
Economic Benefits ◽  
Decision Making Process ◽  
Economic Decision Making ◽  
Wind Hazard ◽  
Building Characteristics

As a result of increasing windstorm losses in the United States over the past 50 years, a variety of residential wind hazard mitigation strategies have been recommended. Wind hazard mitigation undoubtedly reduces windstorm losses; however, little customized information is available to support the economic decision-making process for individual stakeholders, especially at the consumer level. Therefore, there is a need for decision support tools to calculate, evaluate, and present the economic benefits of mitigation over variable decision-making time horizons for unique building characteristics in specific geographical locations. This paper presents a cost-benefit computational decision-making recommendation framework that evaluates and presents the cost effectiveness of mitigation, customized based on location, years of interest, and building characteristics. The decision-making framework consists of two cores. The user-independent core and user-dependent core which consists of eight steps, divided into four subprocesses: (1) data acquisition, (2) data evaluation, (3) cost-benefit calculation, and (4) results comparison and decision making. To demonstrate the framework, a wood-framed single-family home in light suburban terrain in Golden Meadow, Louisiana, is used as a case study, considering retrofit mitigation with a $15,000 budget and a decision-making time horizon of 30 years. The case study provides six mitigation options, with cost ranging between approximately $2,000 and $15,000 and net benefit/cost ratios ranging from 2.4 to 13. Once fully implemented in a decision making information tool, the developed mitigation recommendation framework will provide valuable information that can be used by home designers, builders, owners, and other stakeholders to better understand the economic facets of wind hazard mitigation, providing critical information as part of the overall decision-making process.

The gentle tyranny of cost–benefit analysis in transport appraisal

2019 ◽  
pp. 131-152
Author(s):  
Robin Hickman
Keyword(s):  
Decision Making ◽  
Planning Process ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Decision Making Process ◽  
Benefit Analysis ◽  
Transport Planning ◽  
The Uk ◽  
Economic Criteria

This chapter considers the application of cost-benefit analysis in the UK transport planning process, asking whether a reliance on narrow economic criteria, and a centralised decision-making process, helps us to progress sufficiently against wide-ranging sustainability goals. A case study of the proposed Merseytram is examined, a project that remains unimplemented from the early 2000s.

scholarly journals PROSPECTS THEORY AND INDIVIDUAL STYLE OF ECONOMIC DECISION-MAKING

2020 ◽  
Vol 14 (1) ◽  
pp. 54-63
Author(s):  
Tetiana Kononovych ◽  
Petro Myasoid
Keyword(s):  
Decision Making ◽  
Cognitive Biases ◽  
Single Case ◽  
Research Participant ◽  
Economic Behavior ◽  
Cognitive Systems ◽  
Decision Making Process ◽  
Economic Decision ◽  
Economic Decision Making

The purpose of the research was to test the prospects theory of Nobel Prize winner in economics D. Kahneman and A. Tversky, which describes the heuristics of economic decision-making, to the adoption of a decision by a concrete person. The method of the study is the Single Case Study, which is the most basic form of case-oriented research. The empirical material was obtained using the Melbourne decision-making questionnaire. The presence of cognitive biases in the decision-making process was determined based on the framing effect. Many methods were used to test the decision-making style of the research participant N and the components of intellectual-personal potential determined. It shows that there are deviations in the process of concrete economic decision making, which are not the result of heuristics, characterized by D. Kahneman and A. Tversky. The decision of the research participant is based on the rational style of this process and the analytical system of reasoning. There is an interaction between cognitive systems 1 and 2 with the evident dominance of the latter. This system blocks cognitive biases and ensures the achievement of results. At the same time, there is an influence from the properties of the intellectual-personal potential of the research participant, such as rationality, intolerance to un-certainty, emotional intelligence. In conclusion, the prospects theory explains the decision-making process in the case study, but the "systematic errors" which D. Kahneman and A. Tversky speak about are not observed. Therefore, there is an opportunity to continue studying the role of individuality in economic behavior. Keywords: behavioral economics, cognitive systems, decision-making style, prospects theory, sin-gle case study.

Did Groupthink or Polythink Derail the 2016 Raqqa Offensive?

2019 ◽  
Author(s):  
Kasey Barr ◽  
Alex Mintz
Keyword(s):  
Decision Making ◽  
Group Dynamics ◽  
Decision Making Process ◽  
Islamic State ◽  
Study Analysis ◽  
Strategic Decisions ◽  
Case Study Analysis ◽  
The Us ◽  
Tactical Decisions

This chapter examines the effect of group dynamics on the 2016 decision within the administration of President Barack Obama to lead the international coalition in a mission to liberate Raqqa, Syria, from the Islamic State. The authors show that whereas the groupthink syndrome characterized the decision-making process of the US-led coalition’s decision to attack Raqqa, it was polythink that characterized the decision-making dynamics both in the US-led coalition and within the inner circle of Obama’s own foreign policy advisors. Through case-study analysis, the authors illustrate that groupthink is more likely in strategic decisions, whereas polythink is more likely in tactical decisions.

Autonomy and Decision-making Ability among Gujjar Women of Kashmir: A Study of Khan Sahib Tehsil in District Budgam

2021 ◽  
Vol 28 (1) ◽  
pp. 90-103
Author(s):  
Wasia Hamid ◽  
Tanveer Ahmad Khan ◽  
Mohmad Saleem Jahangir
Keyword(s):  
Decision Making ◽  
Employment Status ◽  
Sampling Technique ◽  
Decision Making Process ◽  
Kashmir Valley ◽  
Tribal Women ◽  
Size Type ◽  
Women In Decision Making ◽  
Case Study Methods

The present study investigates the level of empowerment among tribal women in terms of their participation in the decision-making process and to identify the factors that affect their level of participation. Fifty women from the Gujjar community of Kashmir Valley were selected through a purposive sampling technique. The interview and case study methods were employed for collecting data from the potential participants. The study revealed that tribal women’s right to make decisions was confined to minor household issues only. A significant positive correlation was also noted between family size, type of family, age, level of education, employment status and participation of the tribal women in decision-making.

Multivariable Automatisierungsentscheidungen*/Multivariate automation decisions – A tool for cost-benefit assessments as a basis for decision-making

2019 ◽  
Vol 109 (03) ◽  
pp. 134-139
Author(s):  
P. Burggräf ◽  
J. Wagner ◽  
M. Dannapfel ◽  
K. Müller ◽  
B. Koke
Keyword(s):  
Decision Making ◽  
Decision Support ◽  
Environmental Conditions ◽  
Cost Benefit ◽  
Decision Support Tool ◽  
Decision Making Process ◽  
Support Tool ◽  
Cost And Benefit ◽  
Benefit Evaluation ◽  
Level Of Automation

Der wachsende Bedarf an Wandlungsfähigkeit führt zu einer höheren Frequenz in der Umplanung von Montagesystemen und erfordert eine kontinuierliche Überprüfung und Anpassung des Automatisierungsgrades. Um auch die komplexen Umgebungsbedingungen abzubilden, sollen nicht-monetäre Faktoren in den Entscheidungsprozess eingebunden werden. Um die Entscheidung zu unterstützen, stellt dieser Beitrag ein Tool zur Identifizierung und Bewertung von Automatisierungsszenarien mittels einer Nutzwert-Aufwand-Analyse vor.   The increasing need for adaptability in assembly leads to a higher planning frequency of the system and requires continuous checks and adaptations of the appropriate level of automation. To account for the complex environmental conditions, non-monetary factors are included in the decision-making process. This paper presents a decision support tool to identify and evaluate automation scenarios by means of cost and benefit evaluation.

Integration between knowledge management and business process management and its impact on the decision making process in the construction sector: a case study of Jordan

2021 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Sami Wasef Abuezhayeh ◽  
Les Ruddock ◽  
Issa Shehabat
Keyword(s):  
Decision Making ◽  
Knowledge Management ◽  
Business Process Management ◽  
Process Management ◽  
Business Processes ◽  
Decision Makers ◽  
Decision Making Process ◽  
Construction Sector ◽  
Content Type

Purpose The purpose of this paper is to investigate and explain how organizations in the construction sector can enhance their decision-making process (DMP) by practising knowledge management (KM) and business process management (BPM) activities. A conceptual framework is developed that recognises the elements that impact DMP in terms of KM and BPM. The development of this framework goes beyond current empirical work on KM in addition to BPM as it investigates a wider variety of variables that impact DMP. Design/methodology/approach A case study is undertaken in the context of the construction industry in Jordan. A theoretical framework is developed and assessment of the proposed framework was undertaken through a questionnaire survey of decision-makers in the construction sector and expert interviews. Findings The outcomes of this research provide several contributions to aid decision-makers in construction organizations. Growth in the usage of KM and BPM, in addition to the integration between them, can provide employees with task-related knowledge in the organization’s operative business processes, improve process performance, promote core competence and maximise and optimise business performance. Originality/value Through the production of a framework, this study provides a tool to enable improved decision-making. The framework generates a strong operational as well as theoretical approach to the organizational utilization of knowledge and business processes.

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