Models For Optimum Decision Making
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Optimum Decision Making In Asset Management
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Author : Carnero, María Carmen
language : en
Publisher: IGI Global
Release Date : 2016-08-24
Optimum Decision Making In Asset Management written by Carnero, María Carmen and has been published by IGI Global this book supported file pdf, txt, epub, kindle and other format this book has been release on 2016-08-24 with Business & Economics categories.
Asset management is becoming increasingly important to an organization’s strategy, given its effects on cost, production, and quality. No matter the sector, important decisions are made based on techniques and theories that are thought to optimize results; asset management models and techniques could help maximize effectiveness while reducing risk. Optimum Decision Making in Asset Management posits that effective decision making can be augmented by asset management based on mathematical techniques and models. Resolving the problems associated with minimizing uncertainty, this publication outlines a myriad of methodologies, procedures, case studies, and management tools that can help any organization achieve world-class maintenance. This book is ideal for managers, manufacturing engineers, programmers, academics, and advanced management students.
Optimal Decision Making In Operations Research And Statistics
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Author : Irfan Ali
language : en
Publisher: CRC Press
Release Date : 2021-11-29
Optimal Decision Making In Operations Research And Statistics written by Irfan Ali and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-11-29 with Business & Economics categories.
The book provides insights in the decision-making for implementing strategies in various spheres of real-world issues. It integrates optimal policies in various decisionmaking problems and serves as a reference for researchers and industrial practitioners. Furthermore, the book provides sound knowledge of modelling of real-world problems and solution procedure using the various optimisation and statistical techniques for making optimal decisions. The book is meant for teachers, students, researchers and industrialists who are working in the field of materials science, especially operations research and applied statistics.
Human Centric Decision Making Models For Social Sciences
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Author : Peijun Guo
language : en
Publisher: Springer
Release Date : 2013-11-01
Human Centric Decision Making Models For Social Sciences written by Peijun Guo and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2013-11-01 with Technology & Engineering categories.
The volume delivers a wealth of effective methods to deal with various types of uncertainty inherently existing in human-centric decision problems. It elaborates on comprehensive decision frameworks to handle different decision scenarios, which help use effectively the explicit and tacit knowledge and intuition, model perceptions and preferences in a more human-oriented style. The book presents original approaches and delivers new results on fundamentals and applications related to human-centered decision making approaches to business, economics and social systems. Individual chapters cover multi-criteria (multiattribute) decision making, decision making with prospect theory, decision making with incomplete probabilistic information, granular models of decision making and decision making realized with the use of non-additive measures. New emerging decision theories being presented as along with a wide spectrum of ongoing research make the book valuable to all interested in the field of advanced decision-making. The volume, self-contained in its nature, offers a systematic exposure to the concepts, design methodologies, and detailed algorithms. A prudent balance between the theoretical studies and applications makes the material suitable for researchers and graduate students in information, computer sciences, psychology, cognitive science, economics, system engineering, operation research and management science, risk management, public and social policy.
Introduction To Financial Models For Management And Planning
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Author : James R. Morris
language : en
Publisher: CRC Press
Release Date : 2017-05-30
Introduction To Financial Models For Management And Planning written by James R. Morris and has been published by CRC Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-05-30 with Business & Economics categories.
A properly structured financial model can provide decision makers with a powerful planning tool that helps them identify the consequences of their decisions before they are put into practice. Introduction to Financial Models for Management and Planning, Second Edition enables professionals and students to learn how to develop and use computer-based models for financial planning. This volume provides critical tools for the financial toolbox, then shows how to use them tools to build successful models.
Handbook Of Reward And Decision Making
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Author : Jean-Claude Dreher
language : en
Publisher: Academic Press
Release Date : 2009-06-04
Handbook Of Reward And Decision Making written by Jean-Claude Dreher and has been published by Academic Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009-06-04 with Psychology categories.
This book addresses a fundamental question about the nature of behavior: how does the brain process reward and makes decisions when facing multiple options? The book presents the most recent and compelling lesion, neuroimaging, electrophysiological and computational studies, in combination with hormonal and genetic studies, which have led to a clearer understanding of neural mechanisms behind reward and decision making. The neural bases of reward and decision making processes are of great interest to scientists because of the fundamental role of reward in a number of behavioral processes (such as motivation, learning and cognition) and because of their theoretical and clinical implications for understanding dysfunctions of the dopaminergic system in several neurological and psychiatric disorders (schizophrenia, Parkinson's disease, drug addiction, pathological gambling, ...) - Comprehensive coverage of approaches to studying reward and decision making, including primate neurophysiology and brain imaging studies in healthy humans and in various disorders, genetic and hormonal influences on the reward system and computational models. - Covers clinical implications of process dysfunction (e.g., schizophrenia, Parkinson's disease, eating disorders, drug addiction, pathological gambling) - Uses multiple levels of analysis, from molecular mechanisms to neural systems dynamics and computational models. " This is a very interesting and authoritative handbook by some of the most outstanding investigators in the field of reward and decision making ", Professor Edmund T. Rolls, Oxford Center for Computational Neuroscience, UK
Optimal Decisions Under Uncertainty
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Author : J.K. Sengupta
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-12-06
Optimal Decisions Under Uncertainty written by J.K. Sengupta and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-12-06 with Business & Economics categories.
Understanding the stochastic enviornment is as much important to the manager as to the economist. From production and marketing to financial management, a manager has to assess various costs imposed by uncertainty. The economist analyzes the role of incomplete and too often imperfect information structures on the optimal decisions made by a firm. The need for understanding the role of uncertainty in quantitative decision models, both in economics and management science provide the basic motivation of this monograph. The stochastic environment is analyzed here in terms of the following specific models of optimization: linear and quadratic models, linear programming, control theory and dynamic programming. Uncertainty is introduced here through the para meters, the constraints, and the objective function and its impact evaluated. Specifically recent developments in applied research are emphasized, so that they can help the decision-maker arrive at a solution which has some desirable charac teristics like robustness, stability and cautiousness. Mathematical treatment is kept at a fairly elementary level and applied as pects are emphasized much more than theory. Moreover, an attempt is made to in corporate the economic theory of uncertainty into the stochastic theory of opera tions research. Methods of optimal decision rules illustrated he re are applicable in three broad areas: (a) applied economic models in resource allocation and economic planning, (b) operations research models involving portfolio analysis and stochastic linear programming and (c) systems science models in stochastic control and adaptive behavior.
I3cac 2021
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Author : Mahalingam Sundhararajan
language : en
Publisher: European Alliance for Innovation
Release Date : 2021-06-04
I3cac 2021 written by Mahalingam Sundhararajan and has been published by European Alliance for Innovation this book supported file pdf, txt, epub, kindle and other format this book has been release on 2021-06-04 with Computers categories.
I3CAC provides a premier interdisciplinary platform for researchers, practitioners and educators to present and discuss not only the most recent innovations, trends, and concerns but also practical challenges encountered and solutions adopted in the fields of computing, communication and control systems. Participation of three renowned speakers and oral presentations of the 128 authors were presented in our conference. We strongly believe that the I3CAC 2021 conference provides a good forum for all researchers, developers and practitioners to discuss.
Decision Making And Programming
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Author : Vyacheslav V Kolbin
language : en
Publisher: World Scientific
Release Date : 2003-06-13
Decision Making And Programming written by Vyacheslav V Kolbin and has been published by World Scientific this book supported file pdf, txt, epub, kindle and other format this book has been release on 2003-06-13 with Mathematics categories.
The problem of selection of alternatives or the problem of decision making in the modern world has become the most important class of problems constantly faced by business people, researchers, doctors and engineers.The fields that are almost entirely focused on conflicts, where applied mathematics is successfully used, are law, military science, many branches of economics, sociology, political science, and psychology. There are good grounds to believe that medicine and some branches of biology and ethics can also be included in this list. Modern applied mathematics can produce solutions to many tens of classes of conflicts differing by the composition and structure of the participants, specific features of the set of their objectives or interests, and various characteristics of the set of their actions, strategies, behaviors, controls, and decisions as applied to various principles of selection or notions of decision optimization.The current issues of social and economic systems involve the necessity to coordinate and jointly optimize various lines of development and activities of modern society. For this reason, the decision problems arising in investigation of such systems are versatile, which shows up not only in the multiplicity of participants, their interests and complexity of reciprocal effects, but also in the laborious development of social utility criteria for a variety of indices and versatile objectives. The efficient decision methods for such complex systems can be developed only the basis of specially developed mathematical tools.
A New Decision Making Model Based On Plithogenic Set For Supplier Selection
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Author : Mohamed Abdel-Basset
language : en
Publisher: Infinite Study
Release Date : 2020-09-21
A New Decision Making Model Based On Plithogenic Set For Supplier Selection written by Mohamed Abdel-Basset and has been published by Infinite Study this book supported file pdf, txt, epub, kindle and other format this book has been release on 2020-09-21 with Business & Economics categories.
This paper proposes an integrated multi-attribute border approximation area comparison (MABAC) based on the best-worst method (BWM), plithogenic set, and rough numbers. BWM is applied to regulate the weight vector of the measures in group decision-making problems with a high level of consistency. For the treatment of uncertainty, a plithogenic set and rough number (RN) are used to improve the accuracy of results. Plithogenic set operations are used to deal with information in the desired manner that handles uncertainty and vagueness. Then, based on the plithogenic aggregation and the results of BWM evaluation, we use MABAC to find the optimal alternative according to defined criteria. To examine the proposed integrated algorithm, an empirical example is produced to select an optimal supplier within five options in the healthcare industry.
Modeling Individual Differences In Perceptual Decision Making
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Author : Joseph W. Houpt
language : en
Publisher: Frontiers Media SA
Release Date : 2017-01-18
Modeling Individual Differences In Perceptual Decision Making written by Joseph W. Houpt and has been published by Frontiers Media SA this book supported file pdf, txt, epub, kindle and other format this book has been release on 2017-01-18 with Cognitive psychology categories.
To deal with the abundant amount of information in the environment in order to achieve our goals, human beings adopt a strategy to accumulate some information and filter out other information to ultimately make decisions. Since the development of cognitive science in the 1960s, researchers have been interested in understanding how human beings process and accumulate information for decision-making. Researchers have conducted extensive behavioral studies and applied a wide range of modeling tools to study human behavior in simple-detection tasks and two-choice decision tasks (e.g., discrimination, classification). In general, researchers often assume that the manner in which information is processed for decision-making is invariant across individuals given a particular experimental context. Independent variables, including speed-accuracy instructions, stimulus properties (i.e., intensity), and characteristics of the participants (i.e., aging, cognitive ability) are assumed to affect the parameters in a model (i.e., speed of information accumulation, response bias) but not the way that participants process information (e.g., the order of information processing). Given these assumptions, much modeling has been accomplished based on the grouped data, rather than the individual data. However, a growing number of studies have demonstrated that there were individual differences in the perceptual decision process. In the same task context, different groups of the participants may process information in different manners. The capacity and architecture of the decision mechanism were found to vary across individuals, implying that humans’ decision strategies can vary depending on the context to maximize their performance. In this special issue, we focused on a particular subset of cognitive models, particularly accumulator models, multinomial processing trees and systems factorial technology (SFT) as applied to perceptual decision making. The motivation for the focus on perceptual decision-making is threefold. Empirical studies of perception have grown out of a history of making a large number of observations for each individual so as to achieve precise estimates of each individual’s performance. This type of data, rather than a small number of observations per individual, is most amenable to achieving precision in individual-level and group-level cognitive modeling. Second, the interaction between the acquisition of perceptual information and the decisions based on that information (to the extent that those processes are distinguishable) offers rich data for scientific exploration. Finally, there is an increasing interest in the practical application of individual variation in perceptual ability, whether to inform perceptual training and expertise, or to guide personnel decisions. Although these practical applications are beyond the scope of this issue, we hope that the research presented herein may serve as the foundation for future endeavors in that domain.