scholarly journals CHOOSING THE MOST ECONOMICALLY ADVANTAGEOUS SOLUTION TO THE DECISION OF THE ISSUE

2018 ◽  
Author(s):  
Violeta Keršulienė ◽  
Jūratė Butkienė
Keyword(s):  
Decision Making ◽  
Research Methods ◽  
Decision Process ◽  
Law And Economics ◽  
Logical Reasoning ◽  
Decision Making Process ◽  
Viable Option ◽  
Law System ◽  
Mathematical Calculation ◽  
New Research

Countries in conflict, trying to make a resolution, encounter a decision process. Often, in practice deci-sions are made based on groundless rationalization, therefore it is commonly believed that it is experi-ence and intuition that are key to the decision making process. Since decisions in law are usually based on logical reasoning, taking into account conflict circumstances and facts, the success of this decision can be determined with mathematical calculation. In recent decades, as the boundries be-tween scholarly disciplines blur, new ones are formed, which are not entirely indepedent, but bring in new research methods. Law and economics is a clear example of this interdisciplinery relation. The law system impacts the economical atmosphere, therefore before taking decision in law, economical aspects must be evaluated. Striving to resolve the disputes between parties at work mathematical cal-culations are used in order to analyze the expected behaviour of each party. Guidance for parties having dispute is the most economically viable option for completing the dispute.

An Evacuation Decision Making Model for Firefighters in Ad Hoc Robot Network

2013 ◽  
Vol 756-759 ◽  
pp. 504-508
Author(s):  
De Min Li ◽  
Jian Zou ◽  
Kai Kai Yue ◽  
Hong Yun Guan ◽  
Jia Cun Wang
Keyword(s):  
Decision Making ◽  
Markov Decision Process ◽  
Decision Process ◽  
Ad Hoc ◽  
Decision Making Process ◽  
Decision Method ◽  
Markov Decision ◽  
Critical Problems ◽  
Fire Scene ◽  
Decision Making Model

Evacuation for a firefighter in complex fire scene is challenge problem. In this paper, we discuss a firefighters evacuation decision making model in ad hoc robot network on fire scene. Due to the dynamics on fire scene, we know that the sensed information in ad hoc robot network is also dynamically variance. So in this paper, we adapt dynamic decision method, Markov decision process, to model the firefighters decision making process for evacuation from fire scene. In firefighting decision making process, we know that the critical problems are how to define action space and evaluate the transition law in Markov decision process. In this paper, we discuss those problems according to the triangular sensors situation in ad hoc robot network and describe a decision making model for a firefighters evacuation the in the end.

scholarly journals Integrated approach for risk management in servitization decision-making process

2020 ◽  
Vol 26 (7) ◽  
pp. 1949-1977 ◽  
Author(s):  
Sarra Dahmani ◽  
Xavier Boucher ◽  
Didier Gourc ◽  
Sophie Peillon ◽  
François Marmier
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Positive Impact ◽  
Practical Implication ◽  
Risk Identification ◽  
Decision Makers ◽  
Decision Making Process ◽  
Research Approach ◽  
Content Type ◽  
Action Research Approach

PurposeThe paper proposes an innovative systemic method helping decision-makers to control servitization transition process, through decision process risk diagnosis.Design/methodology/approachThe proposed method is based on the modeling of decision processes and risk identification and analysis. This method was based on an action-research approach, in close relationship with two companies (SMEs). The paper develops the feasibility experiment at Automelec company.FindingsThe method was successfully implemented and delivered concrete diagnosis results.Research limitations/implicationsThe generalization of the applicability of the method needs to be tested on several different cases.Practical implicationsThe first practical implication is related to the efficiency of the method to help decision-makers in a servitization context to limit uncertainty and get a global view of the weaknesses of their decision-making process, it raises their awareness about servitization transition for their companies. Furthermore, the method also helps to explain the strategy of a servitization transition. It enhances the level of maturity of the decision process of the company, and can be used as a training/learning tool for managers.Social implicationsThe results brought by the research contribute to give the decision-making boards for organization living a servitization transition and especially SMEs a better control over the servitization decision process and related risks, which will increase the economic stability of the company and its vision over long, medium and short horizons. This will bring positive impact on the overall economic and social environment and networks of the servitized SME, and enhance the confidence of coworkers, subcontractors and clients.Originality/valueThe first originality of the paper is related to the new way of considering risk, not only as an analysis criterion but as the central driver in steering a strategic transition for the company, such as servitization. The second originality of the study is about assessing risk occurrence over a decision-making process through decision reliability and decision confidence.

scholarly journals Logarithmic Hybrid Aggregation Operators Based on Single Valued Neutrosophic Sets and Their Applications in Decision Support Systems

Symmetry ◽  
2019 ◽  
Vol 11 (3) ◽  
pp. 364 ◽  
Author(s):  
Shahzaib Ashraf ◽  
Saleem Abdullah ◽  
Florentin Smarandache ◽  
Noor Amin
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Aggregation Operators ◽  
Decision Making Process ◽  
Practical Case ◽  
Multi Criteria Decision Making ◽  
Comparison Analysis ◽  
Negative Interaction ◽  
Positive Interaction ◽  
Neutrosophic Sets

Recently, neutrosophic sets are found to be more general and useful to express incomplete, indeterminate and inconsistent information. The purpose of this paper is to introduce new aggregation operators based on logarithmic operations and to develop a multi-criteria decision-making approach to study the interaction between the input argument under the single valued neutrosophic (SVN) environment. The main advantage of the proposed operator is that it can deal with the situations of the positive interaction, negative interaction or non-interaction among the criteria, during decision-making process. In this paper, we also defined some logarithmic operational rules on SVN sets, then we propose the single valued neutrosophic hybrid aggregation operators as a tool for multi-criteria decision-making (MCDM) under the neutrosophic environment and discussd some properties. Finally, the detailed decision-making steps for the single valued neutrosophic MCDM problems were developed, and a practical case was given to check the created approach and to illustrate its validity and superiority. Besides this, a systematic comparison analysis with other existent methods is conducted to reveal the advantages of our proposed method. Results indicate that the proposed method is suitable and effective for decision process to evaluate their best alternative.

scholarly journals University Endowment Committees, Modern Portfolio Theory and Performance

2020 ◽  
Vol 13 (9) ◽  
pp. 198
Author(s):  
Mimi Lord
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Portfolio Theory ◽  
Portfolio Diversification ◽  
Decision Making Process ◽  
Modern Portfolio Theory ◽  
Asset Classes ◽  
Decision Making Framework ◽  
And Performance

University endowments with broad portfolio diversification have been correlated with performance, but committees’ decision-making process has received relatively little attention. This study is unique in postulating that the committee’s learning commitment and open-mindedness are significant contributors to a decision process that is based on the principles of Modern Portfolio Theory (or, simply, Portfolio Theory). The use of Portfolio Theory as a decision-making framework leads to greater portfolio diversification, which, in turn, leads to higher risk-adjusted returns. This study also demonstrates that greater committee expertise across multiple asset classes contributes to more diversified portfolios.

scholarly journals Evaluation of a shared decision-making intervention for dialysis choice at four Danish hospitals: a qualitative study of patient perspective

BMJ Open ◽  
2019 ◽  
Vol 9 (10) ◽  
pp. e029090 ◽  
Author(s):  
Jeanette Finderup ◽  
Jens Dam Jensen ◽  
Kirsten Lomborg
Keyword(s):  
Decision Making ◽  
Shared Decision Making ◽  
Decision Process ◽  
Decision Aid ◽  
Accurate Information ◽  
Decision Making Process ◽  
Shared Decision ◽  
Dialysis Modality ◽  
Individual Interviews ◽  
Informed Preferences

ObjectiveTo evaluate the ‘Shared Decision-making and Dialysis Choice’ (SDM-DC) intervention with regard to patients’ experience and involvement.DesignSemistructured individual interviews and systematic text condensation for data analysis.SettingThe SDM-DC intervention was implemented and evaluated at four different hospitals in Denmark.ParticipantsA total of 348 patients had received the SDM-DC intervention, and of these 29 patients were interviewed.InterventionsSDM-DC was designed for patients facing a choice of dialysis modality. The available modalities were haemodialysis and peritoneal dialysis, either performed by patients on their own or with help from a healthcare professional. The intervention was tailored to individual patients and consisted of three meetings with a dialysis coordinator who introduced a patient decision aid named ‘Dialysis Choice’ to the patient.FindingsThe following were the four main findings: the decision was experienced as being the patient’s own; the meetings contributed to the decision process; ‘Dialysis Choice’ contributed to the decision process; and the decision process was experienced as being iterative.ConclusionsThe patients experienced SDM-DC as involving them in their choice of dialysis modality. Due to the iterative properties of the decision-making process, a shared decision-making intervention for dialysis choice has to be adapted to the needs of individual patients. The active mechanisms of the meetings with the dialysis coordinator were (1) questions to and from the patient, and (2) the dialysis coordinator providing accurate information about the options. The overview of options and the value clarification tool in the decision aid were particularly helpful in establishing a decision-making process based on informed preferences.

scholarly journals The Impact of Economics on Competition Law in New Zealand Some Reflections on the First Decade

1996 ◽  
Vol 26 (1) ◽  
pp. 17
Author(s):  
Mark N Berry
Keyword(s):  
Decision Making ◽  
New Zealand ◽  
Law And Economics ◽  
Competition Law ◽  
Institutional Framework ◽  
Decision Making Process ◽  
Future Trends ◽  
Brief Assessment ◽  
The Impact ◽  
Theoretical Foundations

The economic focus of the Commerce Act 1986 is unique in New Zealand, both in terms of its theoretical foundations and its institutional framework. The author reflects on these features of the Act and the impact that economics has had on the decision-making process. This article reviews the New Zealand landscape in terms of the goals of the Commerce Act, its institutional framework, and the manner in which the strict rules of evidence may be relaxed. It then considers, by using Justice Breyer's framework (in S J Breyer "Economics and Judging: An Afterword on Cooter and Wald" (1987) 50 Law and Contemp Probs 245), how economics has impacted upon the content of rules of law and the proof of specific economic facts. The author concludes with a brief assessment of likely and desirable future trends in New Zealand law, arguing that it was likely that economics would continue to have a major impact on the Commerce Act; aside from in the interpretation of dominance principles, the author argues that the foundations are strongly in place for the continued growth of law and economics in this field.

scholarly journals THE CONSUMER DECISION OF CHANGES PURCHASING GLASSES IN OPTICAL NAOMY YEAR 2019

2020 ◽  
Vol 2 (1) ◽  
Author(s):  
Wahjoe Handini Dina ◽  
Ita Puji Lestari
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Cost Benefit Analysis ◽  
Cost Benefit ◽  
Purchase Decision ◽  
Decision Making Process ◽  
Benefit Analysis ◽  
Cross Sectional ◽  
Descriptive Research ◽  
Optical Glasses

The purchase decision process is the process through which consumers when buying a product. It can be seen as a special form of cost-benefit analysis. This study is about knowing the decision of consumers in the purchase of glasses in the form of design, price, services, promotions and materials. The type of research is descriptive research conducted with the main objective to create a picture or a description of a situation objectively with the approach used in the study is Cross-sectional namely researchers put through observation or measurement variables at one time. Research in Optics Naomy shows that in the period July - September 2019 there were 32 respondents consisting of 19 (59.4%) of female respondents and 13 (40.6%) male respondents - men. Most aged 15-25 years as many as 26 people (81.3%), not married as many as 26 people (81.3%), student / student as many as 23 people (71.9%) and earn less than Rp 1 million, 00 as many as 26 people (81.3%). The majority of respondents in the optical Naomy declare eyeweare design is Good (62,5%), the price of the glasses in the optical Naomy is Less Suitable (65,6%), services in the optical Naomy is Good (65,6%), promotion in the optical Naomy is Good (62,5%), materials in optical glasses Naomy Good (56,2%). The decision making process of consumers in the purchase of glasses in the optical Weleri in this study prefer the design (22%) and services (21.8%), materials (21.2%), price (19.8%) and promotions (15.2 %). 

Investment Analysis for Deepwater Oil and Gas Field Developments

2003 ◽  
Author(s):  
Antonio Critsinelis
Keyword(s):  
Decision Making ◽  
Decision Process ◽  
Oil And Gas ◽  
Investment Analysis ◽  
Decision Making Process ◽  
Gas Field ◽  
Economic Return ◽  
Oil And Gas Field ◽  
Key Drivers ◽  
Selection Of

The effective stewardship of capital is cardinal to ensure economic return to compensate shareholders for capital invested at risk. This paper outlines how investment analysis can be used to improve the decision-making process of deepwater oil and gas field developments. The paper focuses on the key drivers and boundary conditions that impact the economics of the entire field life cycle. It also highlights the relationships between these key drivers and the selection of the layout and main subsystems of the field architecture. A typical deepwater field scenario is used to illustrate the methodology of investment analysis and associated simulations that reflect the uncertainties along the stages of the decision process. Sensitivity analysis is utilized to identify how much each uncertain driver contributes to the uncertainty in the project economic outcome.

The Decision Making Process of Integrating Wireless Technology into Organizations

2011 ◽  
pp. 165-172
Author(s):  
Assion Lawson-Body ◽  
Glenda Rotvold ◽  
Justin Rotvold
Keyword(s):  
Decision Making ◽  
Mobile Devices ◽  
Organizational Effectiveness ◽  
Mobile Applications ◽  
Decision Making Process ◽  
Wireless Technology ◽  
Viable Option ◽  
Transmission Of Information ◽  
Effectiveness And Efficiency

With the advancement of wireless technology and widespread use of mobile devices, many innovative mobile applications are emerging (Tarasewich & Warkentin, 2002; Varshney & Vetter, 2002; Zhang, 2003). Wireless technology refers to the hardware and software that allow transmission of information between devices without using physical connections (Zhang, 2003). Understanding the different technologies that are available, their limitations, and uses can benefit companies looking at this technology as a viable option to improve overall organizational effectiveness and efficiency.

Are negative and positive reviews regarding apparel fit influential?

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Eonyou Shin ◽  
Telin Chung ◽  
Mary Lynn Damhorst
Keyword(s):  
Decision Making ◽  
Information Processing ◽  
Decision Process ◽  
Equation Modeling ◽  
Purchase Decision ◽  
Decision Making Process ◽  
Content Type ◽  
Female Consumers ◽  
Online Purchase ◽  
Apparel Product

PurposeThe purpose of the current study is to explore how valenced fit reviews affect the consumer decision-making process during online apparel shopping.Design/methodology/approachA single factor (valence of fit review) within-subject experimental design was employed to examine how the valenced fit review (negative vs positive) affects the consumer online purchase decision process. A mock website was created to simulate the online shopping environment through four steps for developing a stimulus website for the main study. The data were analyzed using repeated multivariate analysis of variance and structural equation modeling.FindingsA total of 418 female consumers completed an online self-administrated survey. Results showed that positive fit review was more compelling than negative fit review for female consumers when they like the apparel product. Two aspects of information credibility (review and site credibility) and confidence in purchase decision evoked by both fit reviews and overall product information were significant determinants of the consumer purchase decision process in increasing consumers’ future purchase intentions through attitude to the online retailer.Originality/valueThe current study was an attempt to fill the gap in knowledge regarding the crucial role of fit reviews in apparel product purchase decisions in an online context. This study confirmed the type of fit reviews that would be influential on female consumers’ online purchase decision-making process for apparel products when they liked the apparel product, supporting positive confirmation bias from the information processing point of view. This study contributed to the importance of the two concepts (i.e. credibility and confidence in the purchase decision) in online information processing and purchase decision-making process.

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