Risk Decision Analysis on the Electricity Transaction of Power Enterprises in Electricity and Derivative Transactions

2013 ◽  
Vol 860-863 ◽  
pp. 2614-2621
Author(s):  
Xiao Jiang Huo ◽  
Hao Cheng ◽  
Yu Hong Wan ◽  
Zhong Jing Liu ◽  
Yun Feng Luo
Keyword(s):  
Decision Making ◽  
Decision Model ◽  
Decision Makers ◽  
Two Stage ◽  
Risk Hedging ◽  
Transaction Process ◽  
Market Transaction ◽  
Two Stages ◽  
The Relationship ◽  
Risk Decision

In the environment of electricity and derivative transaction, the risk hedging and metastasis of power right transaction in China are needed to establish the risk decision-making for the generated energy/right on electricity generation side. And it will be the key point focused by decision-makers in power enterprises. The planning management of two-stage market transaction risk was conducted with the hedging function of generation rights transaction to establish a risk decision model of comprehensive electricity transaction. The relationship between the electricity price of two-stage market and the identity parameters of transaction participants was given for solving the model. The whole transaction process of generating companies was divided into two stages. The risk decision framework of block transaction was established for the independent transaction decision-making of each segment and the overall optimization. The results of example simulation verified the effectiveness and feasibility of the decisions.

scholarly journals Novel Parameterized Distance Measures on Hesitant Fuzzy Sets with Credibility Degree and Their Application in Decision-Making

Symmetry ◽  
2018 ◽  
Vol 10 (11) ◽  
pp. 557 ◽  
Author(s):  
Jiaru Li ◽  
Fangwei Zhang ◽  
Qiang Li ◽  
Jing Sun ◽  
Janney Yee ◽  
...  
Keyword(s):  
Decision Making ◽  
Fuzzy Sets ◽  
Cardinal Number ◽  
Decision Makers ◽  
Distance Measures ◽  
Hesitant Fuzzy Set ◽  
Hesitant Fuzzy Sets ◽  
The Subject ◽  
The Relationship

The subject of this study is to explore the role of cardinality of hesitant fuzzy element (HFE) in distance measures on hesitant fuzzy sets (HFSs). Firstly, three parameters, i.e., credibility factor, conservative factor, and a risk factor are introduced, thereafter, a series of novel distance measures on HFSs are proposed using these three parameters. These newly proposed distance measures handle the relationship between the cardinal number and the element values of hesitant fuzzy set well, and are suitable to combine subjective and objective decision-making information. When using these functions, decision makers with different risk preferences are allowed to give different values for these three parameters. In particular, this study transfers the hesitance degree index to a credibility of the values in HFEs, which is consistent with people’s intuition. Finally, the practicability of the newly proposed distance measures is verified by two examples.

scholarly journals KETERKAITAN MANAGERIAL OWNERSHIP DAN LEVERAGE TERHADAP NILAI PERUSAHAAN: DALAM KONTEK HUBUNGAN KEAGENAN PERUSAHAAN DI INDONESIA

2021 ◽  
Vol 5 (1) ◽  
pp. 160
Author(s):  
Margarita Ekadjaja ◽  
Rorlen Rorlen ◽  
Fanny Andriani Setiawan ◽  
Kartika Nuringsih
Keyword(s):  
Decision Making ◽  
Firm Value ◽  
Agency Costs ◽  
Least Square ◽  
Managerial Ownership ◽  
Corporate Value ◽  
Manufacturing Companies ◽  
Positive Interaction ◽  
Two Stage ◽  
The Relationship

Manajemen dan nilai perusahaan memiliki keterkaitan yang tidak dapat dipisahkan.  Dimana manajemen perusahaan merupakan penggerak roda perusahaan dan berorientasi pada nilai perusahaan. Peran seorang manajer adalah memaksimalkan kekayaan bagi pemegang saham.  Namun, manajer yang tidak memiliki kepemilikan saham yang signifikan di perusahaan dapat memilih untuk memaksimalkan keuntungan bersih mereka sendiri dengan mengorbankan pemilik perusahaan. Akibatnya, pemilik terpaksa mengeluarkan biaya agensi untuk memastikan bahwa manajemen perusahaan bertindak dengan cara yang tepat. Cara untuk mengurangi biaya agensi adalah memaksa perusahaan untuk meningkatkan hutang. Tujuan penelitian adalah  menguji hubungan simultan pertukaran antara ownership, leverage, dan nilai perusahaan sehubungan dengan keagenan pada perusahaan manufaktur di Indonesia dari tahun 2012-2018. Penelitian ini menambah pemahaman mengenai keterkaitan antara ownership dengan leverage, dan nilai perusahaan. Analisis data untuk argumen tentang keterkaitan simultan antara  ownership, leverage, dan nilai perusahaan melalui data panel regresi berganda 2 SLS (Two Stage Least Square). Bidang penelitian ini diperluas dengan mempertimbangkan model empiris di mana ownership dan leverage masing-masing diperlakukan sebagai variabel endogen atau ditentukan bersama.  Dalam metode 2 SLS ada 2 kali variabel yang diobservasi secara simultan untuk menghindari bayes sehingga variabel tersebut tidak bias, di mana variabel managerial ownership dan Leverage merupakan determinan non linier nilai perusahaan sebagai bagian integral dari pengambilan keputusan perusahaan dalam kerangka keagenan.  Persamaan Regresi hasil uji 2SLS memunjukkan keterkaitan nilai perusahaan dengan managerial ownership dan leverage. Hasil menunjukkan interaksi positif  tidak signifikan antara managerial ownerhip dengan nilai perusahaan, interaksi positif signifikan antara nilai perusahaan dengan leverage, dan interaksi yang negatif signifkan antara managerial ownership dengan leverage. Management and corporate value have an inseparable relationship. Where the company management is the driving force of the company and oriented to corporate values. The role of a manager is to maximize wealth of shareholders. However, managers who do not have a significant share in the company may choose to maximize their own net profits at the expense of the company owners. As a result, the owners are forced to incur agency costs to ensure that company management acts in an appropriate manner. The way to reduce agency costs is to force the company to increase debt. The research objective is to examine the exchange simultaneous relationship between ownership, leverage, and corporate value with respect to agency in manufacturing companies in Indonesia from 2012-2018. This study adds to the understanding of the relationship between ownership and leverage, and corporate value. Data analysis for arguments about the simultaneous relationship between ownership, leverage, and firm value through 2 SLS (Two Stage Least Square) multiple regression panel data. This field of research is extended by considering empirical models in which ownership and leverage are treated as endogenous or co-determined variables, respectively. Ownership and Leverage as an integral part of corporate decision making within an agency framework, which in turn will affect the value of the company. In the SLS 2 method, there are 2 variables that are observed simultaneously to avoid bayes so that the variable is not biased, in which the managerial ownership and leverage variables are nonlinear determinant corporate value as an integral part of corporate decision making within the agency framework, which in turn will affect firm value. The 2SLS regression equation results show the relationship between firm value and managerial ownership and leverage. The results prove that there is a positive interaction between managerial ownership between firm value, a significant positive interaction between firm value and leverage, and a significant negative interaction between managerial ownership and leverage.

Group Decision Model Based on Ordered Weighted Distance to Aid Decisions on Logistics

2018 ◽  
Vol 26 (02) ◽  
pp. 233-254 ◽  
Author(s):  
Jose Leao E Silva Filho ◽  
Danielle Costa Morais
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Decision Model ◽  
Group Decision ◽  
Decision Rules ◽  
Decision Makers ◽  
Weighted Distance ◽  
Model Based ◽  
Decision Making Model

This paper presents a group decision-making model using a distance aggregator based on Ordered Weighted Distance (OWD) which offers a solution that can reduce disagreement between decision makers (DMs). This paper discusses decision rules and sets out measures to evaluate compensatory effects that have a bearing on DMs’ opinions. The model uses formulations of distances to reveal the differences in opinion among DMs and discusses the meanings of distance and the information presented by each DM. Finally, a case study of a logistics problem is used to illustrate how the model is applied.

scholarly journals Linguistic Interval-Valued Intuitionistic Fuzzy Copula Heronian Mean Operators for Multiattribute Group Decision-Making

2020 ◽  
Vol 2020 ◽  
pp. 1-25
Author(s):  
Lei Xu ◽  
Yi Liu ◽  
Haobin Liu
Keyword(s):  
Decision Making ◽  
Fuzzy Number ◽  
Group Decision ◽  
Decision Makers ◽  
Intuitionistic Fuzzy Number ◽  
Intuitionistic Fuzzy ◽  
Uncertainty Information ◽  
The Relationship ◽  
Interval Valued ◽  
Heronian Mean

As a generalization of the intuitionistic fuzzy number (IFN), the linguistic interval-valued intuitionistic fuzzy number (LIVIFN) is a flexible and superior tool to describe complex fuzzy uncertainty information. Heronian mean (HM) operator has the characteristic of considering the relationship between attributes. Extended copulas (ECs) and extended cocopulas (ECCs) are the promotion form of Archimedean t-norm and t-conorm (ATT). ECs and ECCs can generate versatile operational rules and can provide more choice for decision makers (DMs). Therefore, it is very necessary to take advantages of them. In this paper, ECs and ECCs, some specifics of ECs and ECCs, and score and accuracy functions of IVILFNs are gained first. Then, we propose the linguistic interval-valued intuitionistic fuzzy weighted copula Heronian mean (LIVIFWCHM) operator; also, some properties and five specific expressions of the LIVIFWCHM operator are discussed. Moreover, we also propose a new MAGDM approach based on the proposed LIVIFWCHM operator. Finally, a set of examples are used to demonstrate the effectiveness, generality, and flexibility of the proposed method.

A Decision Making Model for Urban Mass Transit Planning

2012 ◽  
Vol 178-181 ◽  
pp. 1898-1903
Author(s):  
Cheng Bing Li ◽  
Kui Yang
Keyword(s):  
Decision Making ◽  
Group Decision Making ◽  
Decision Model ◽  
Group Decision ◽  
Multiple Objectives ◽  
Decision Makers ◽  
Transit Planning ◽  
Entropy Weight ◽  
Decision Making Problem ◽  
Urban Mass Transit

The urban transit network planning is considered as a group decision making problem with multiple objectives and multiple decision makers, due to the its planning characteristics. A new group decision making method is presented to overcome the problem in current group decision making. With the idea of integration and collaboration, the group decision making problem is turned into the group decision making with multiple objectives and decision makers, and the two stage decision model is established. The dynamic index is transformed into static index with the dynamic multi-valued context, and the first stage decision model is established by entropy weight theory. The weight is given by experts with cluster analysis, and the aggregation model of group decision making is established with relative entropy, in the second stage.

scholarly journals The relationship between marketing intelligence and strategic marketing

2014 ◽  
Vol 17 (4) ◽  
pp. 440-456 ◽  
Author(s):  
Peet Venter ◽  
Mari Jansen van Rensburg
Keyword(s):  
Decision Making ◽  
South African ◽  
Communication Technology ◽  
Decision Makers ◽  
Strategic Marketing ◽  
Marketing Decision ◽  
Information And Communication ◽  
Marketing Intelligence ◽  
Marketing Information ◽  
The Relationship

Despite the importance attached to MI and other marketing information functions, surprisingly few studies have explicitly examined the relationship between MI and strategic marketing decision-making. This article reports on a study conducted with the aim of determining the relationship between marketing intelligence (MI) and strategic marketing in South African organisations. A quantitative survey was conducted among 166 South African marketing decision-makers. The findings suggest a substantial gap between the importance and availability of key types of MI. Marketing decision-makers found the traditional MI and marketing tools of great value in supporting marketing decision-making, but the value of several of the newer MI tools and technologies was less clear. An analysis of MI practices suggested that MI quality and particularly information and communication technology (ICT) support for MI are areas requiring further attention. 

scholarly journals Heart Rate Variability and Decision-Making: Autonomic Responses in Making Decisions

2021 ◽  
Vol 11 (2) ◽  
pp. 243
Author(s):  
Giuseppe Forte ◽  
Matteo Morelli ◽  
Maria Casagrande
Keyword(s):  
Decision Making ◽  
Heart Rate ◽  
Heart Rate Variability ◽  
Cognitive Processes ◽  
Iowa Gambling Task ◽  
Decision Makers ◽  
Good Decision ◽  
Valid Index ◽  
Inhibitory Circuit ◽  
The Relationship

Decision-making is one of the most crucial cognitive processes in daily life. An adaptable, rapid, and flexible decision requires integration between brain and body. Heart rate variability (HRV) indexes this brain–body connection and appears to be related to cognitive performance. However, its relationship with decision-making is poorly analyzed. This study investigates the relationship between HRV and the decision-making process, assessed through the Iowa Gambling Task (IGT). One hundred and thirty healthy university students (mean age = 23.35 ± 2.50) participated in the study. According to IGT performance, they were divided into high decision-makers (n = 79) and low decision-makers (n = 51). Heart rate variability was measured in the resting, reactivity (i.e., during IGT), and recovery phases. Higher vagally mediated HRV (vmHRV; indexed in frequency domain measures) was evidenced in good decision-makers in the resting, reactivity, and recovery phases. During the task, a higher vagal modulation after a first evaluation was highlighted in good decision-makers. In conclusion, HRV proves to be a valid index of inhibitory circuit functioning in the prefrontal cortex. The relationship with cognitive functions was also confirmed, considering the ability to inhibit disadvantageous responses and make better decisions.

Multi-Criteria Decision Making in Manufacturing Systems

2019 ◽  
pp. 80-107
Author(s):  
Hande Erdoğan Aktan ◽  
Ömür Tosun
Keyword(s):  
Decision Making ◽  
Industry 4.0 ◽  
Manufacturing Systems ◽  
Decision Makers ◽  
Smart Factory ◽  
Multi Criteria Decision Making ◽  
Structural Modelling ◽  
Location Selection ◽  
The Relationship ◽  
Selection Of

In this study, an Industry 4.0-oriented electronical goods producer company's smart facility location selection problem is analyzed. The proposed problem is evaluated under environmental, economic, social, and technological criteria. The relationship between criteria are analyzed with interpretive structural modelling (ISM) and Matrice d'Impacts Croisés-Multiplication Appliquée á un Classement (MICMAC) methods. ISM method is used to assess the mutual relation of the criteria and their dependencies, whereas the MICMAC method is used to identify the importance of criteria based on their driving and dependence power. It is expected the methods used in this study which are related to evaluation of the criteria affecting the selection of the plant for a smart factory and the results of it will be useful for decision-makers and practitioners to categorize and differentiate the criteria. This study will be one of the first spearheading research to evaluate the criteria for establishing a smart factory.

The Buying Decision-Making Process in the Selection of Device Suppliers in Reproductive Medicine

2021 ◽  
pp. 1-23
Author(s):  
Paulo Botelho Pires ◽  
António Correia Barros ◽  
Filipe Taveira Santos
Keyword(s):  
Decision Making ◽  
Medical Devices ◽  
Reproductive Medicine ◽  
Marketing Strategies ◽  
Decision Makers ◽  
Decision Making Process ◽  
The Third ◽  
Post Purchase ◽  
The Relationship ◽  
Selection Of

This study identifies the criteria underlying the buying decision-making process of medical devices in reproductive medicine. This research had three main objectives. The first one was to translate the criteria mentioned by the decision-makers into theoretical constructs, while the second objective was intended to establish the relationship between the constructs, creating a conceptual model of buying decision-making for medical devices in reproductive medicine. The third objective was to identify suitable business and marketing strategies for such a decision-making process. Four constructs were evaluated in the pre-purchase phase, namely the brand, the product's performance, the training associated with the product, and the price. In the post-purchase phase, decision-makers evaluated the following constructs: service provided by the company, the relationship with the salesperson, and loyalty. Regarding marketing strategies, market-orientation strategy, relationship-marketing strategy, and brand-equity strategy were identified as possible strategies.

Crude Communism and Revolution

1976 ◽  
Vol 70 (4) ◽  
pp. 1136-1145
Author(s):  
David Resnick
Keyword(s):  
Theory And Practice ◽  
Stage Theory ◽  
Early Writing ◽  
Socialist Society ◽  
Two Stage ◽  
Future Society ◽  
Pass Through ◽  
Two Stages ◽  
The Relationship ◽  
Sophisticated Analysis

The paper is an examination of the relationship between Marx's theory of communism and his theory of revolution in the early writings. Avineri's claim that the Paris Manuscripts contain a two stage theory of future society is critically evaluated. It is argued that by crude communism Marx meant an incorrect theory of communism and not a description of the next stage of society. Confusion results from taking Marx's discussion of two stages in the Critique of the Gotha Program and reading the more sophisticated analysis of the later works back into the early writings. A discussion of the relationship between revolutionary theory and practice as formulated in the early writing is offered in order to substantiate the claim that Marx never thought that socialist society had to pass through the stage of crude communism.

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