scholarly journals Complexity Study of the Credit Risk of a Business Group

2015 ◽  
Vol 2015 ◽  
pp. 1-8
Author(s):  
Yang Yang ◽  
Jing Gu ◽  
Zongfang Zhou
Keyword(s):  
Complex System ◽  
Decision Making ◽  
Credit Risk ◽  
Complex Dynamics ◽  
Business Group ◽  
Dynamic Decision Making ◽  
Iterative Model ◽  
Proposed Model ◽  
Decision Making Processes ◽  
Simulation Results

A business group is a complex system; thus it is much more difficult to predict its credit risk than that of an individual company. This study proposes an iterative model, which describes the internal interactions and dynamic credit risk of a business group. The proposed model was analyzed from a complex dynamics perspective. The simulation results based on this model show that chaos will emerge in the credit risk of a business group due to the dynamic decision-making processes of its subsidiaries, even if the interactions in the business group are fairly simple. The results of this study might explain some economic phenomena, and they also provide insights into the credit risk of a business group.

Star Cruiser: A Laboratory Task for Investigating Dynamic Decision Making

1992 ◽  
Vol 36 (14) ◽  
pp. 1046-1046
Author(s):  
Kellie S. Keifer ◽  
Jennifer S. Lanham ◽  
Alex Kirlik ◽  
R. Jay Shively
Keyword(s):  
Decision Making ◽  
Situational Awareness ◽  
Skill Development ◽  
Dynamic Decision Making ◽  
Georgia Tech ◽  
Decision Heuristics ◽  
Perceptual Decision ◽  
Decision Making Processes ◽  
Laboratory Task

Star Cruiser is a complex laboratory task that was designed to study decision making processes. It is intended to provide a rich perceptual environment in which to study the perceptual decision heuristics utilized by operators in similar tasks (Shively & Kirlik, 1991, Kirlik, Markert & Shively, 1990). In addition, a great deal of flexibility is offered by its script-style control. Researchers interested in such areas as workload, situational awareness, and skill development may also find it useful. It is presently being utilized in laboratories at NASA-Ames and Georgia Tech, where it was jointly developed, but the software is now available for distribution to other interested laboratories.

scholarly journals Knowledge Management for Sustainable Development in the Era of Continuously Accelerating Technological Revolutions: A Framework and Models

2021 ◽  
Vol 13 (6) ◽  
pp. 3353
Author(s):  
Meir Russ
Keyword(s):  
Decision Making ◽  
Sustainable Development ◽  
Knowledge Management ◽  
Conceptual Model ◽  
Human Society ◽  
Organizational Decision Making ◽  
New Era ◽  
Proposed Model ◽  
Decision Making Processes ◽  
Human Actors

This conceptual, interdisciplinary paper will start by introducing the commencement of a new era in which human society faces continuously accelerating technological revolutions, named the Post Accelerating Data and Knowledge Online Society, or ‘Padkos’ (“food for the journey; prog; provisions for journey”—in Afrikaans) for short. In this context, a conceptual model of sustainable development with a focus on knowledge management and sharing will be proposed. The construct of knowledge management will be unpacked into a new three-layer model with a focus on the knowledge-human and data-machine spheres. Then, each sphere will be discussed with concentration on the learning and decision- making processes, the digital supporting systems and the human actors’ aspects. Moreover, the recombination of new knowledge development and contemporary knowledge management into one amalgamated construct will be proposed. The holistic conceptual model of knowledge management for sustainable development is comprised by time, cybersecurity and two alternative humanistic paradigms (Homo Technologicus and Homo Sustainabiliticus). Two additional particular models are discussed in depth. First, a recently proposed model of quantum organizational decision-making is elaborated. Next, a boundary management and learning process is deliberated. The paper ends with a number of propositions and several implications for the future based on the deliberations in the paper and the models discussed and with conclusions.

scholarly journals Impact of Industry 4.0 on decision-making in an operational context

2021 ◽  
Vol 16 (4) ◽  
pp. 500-514
Author(s):  
F. Rosin ◽  
P. Forget ◽  
S. Lamouri ◽  
R. Pellerin
Keyword(s):  
Decision Making ◽  
Industry 4.0 ◽  
New Technologies ◽  
Production Systems ◽  
Point Of View ◽  
Decision Makers ◽  
Process Improvements ◽  
Proposed Model ◽  
Operational Systems ◽  
Decision Making Processes

The implementation of Industry 4.0 technologies suggests significant impacts on production systems productivity and decision-making process improvements. However, many manufacturers have difficulty determining to what extent these various technologies can reinforce the autonomy of teams and operational systems. This article addresses this issue by proposing a model describing different types of autonomy and the contribution of 4.0 technologies in the various steps of the decision-making processes. The model was confronted with a set of application cases from the literature. It emerges that new technologies' improvements are significant from a decision-making point of view and may eventually favor implementing new modes of autonomy. Decision-makers can rely on the proposed model to better understand the opportunities linked to the fusion of cybernetic, physical, and social spaces made possible by Industry 4.0.

scholarly journals TOWARDS AN ECO-EFFICIENCY MODEL FOR EXTENDED SUPPLY CHAIN – BRAZILIAN FOOD INDUSTRY

2015 ◽  
Vol 12 (1) ◽  
pp. 48
Author(s):  
Handson Claudio Dias Pimenta ◽  
Reidson Pereira Gouvinhas ◽  
Stephen Evans
Keyword(s):  
Decision Making ◽  
Supply Chain ◽  
Product Life Cycle ◽  
Food Industry ◽  
Life Cycle Management ◽  
Environmental Aspects ◽  
Production Chain ◽  
Product Life Cycle Management ◽  
Proposed Model ◽  
Decision Making Processes

Designers make decisions that ultimately impact on both the economic and environmental performance of the products, and many of these costs and impacts occur across the supply chain. This paper proposes an eco-efficiency model for product life cycle management within the extended supply chain (ESC) for food industry. Eco-efficiency (EE) has the potential to incorporate both environmental and economic improvement by companies of ESC, and we explore the use of EE in the design process.  It is noteworthy that it is an imperative in the current competitive market that companies must be able to manage their entire production chain taking into account environmental issues as an important factor in their decision-making processes. Therefore, it is believed that EE can integrate and strengthen a company’s functions and assist its decision-making processes as well as implement improvements within its ESC. In this context, it is expected that the proposed model will be able to deliver a validation process based on EE strategies as well as map environmental aspects and its impacts. In addition, the proposed model aims to consider economic aspects along the product ESC and to present elements which can help companies to promote improvements within its supply chain by considering a more environmentally friendly perspective.

scholarly journals Hierarchical Decision-making using a New Mathematical Model based on the Best-worst Method

2019 ◽  
Vol 14 (6) ◽  
pp. 710-725 ◽  
Author(s):  
Mohammad Hashemi Tabatabaei ◽  
Maghsoud Amiri ◽  
Mohammad Ghahremanloo ◽  
Mehdi Keshavarz-Ghorabaee ◽  
Edmundas Kazimieras Zavadskas ◽  
...  
Keyword(s):  
Mathematical Model ◽  
Decision Making ◽  
Evaluation Methodology ◽  
Hierarchical Decision Making ◽  
New Approach ◽  
Multi Criteria Evaluation ◽  
Proposed Model ◽  
Hierarchical Decision ◽  
Decision Making Processes ◽  
Best Worst Method

Decision-making processes in different organizations often have a hierarchical and multilevel structure with various criteria and sub-criteria. The application of hierarchical decision-making has been increased in recent years in many different areas. Researchers have used different hierarchical decision-making methods through mathematical modeling. The best-worst method (BWM) is a multi-criteria evaluation methodology based on pairwise comparisons. In this paper, we introduce a new hierarchical BWM (HBWM) which consists of seven steps. In this new approach, the weights of the criteria and sub-criteria are obtained by using a novel integrated mathematical model. To analyze the proposed model, two numerical examples are provided. To show the performance of the introduced approach, a comparison is also made between the results of the HBWM and BWM methodologies. The analysis demonstrates that HBWM can effectively determine the weights of criteria and sub-criteria through an integrated model.

scholarly journals Comparative Analysis of Iterative Processes of Equilibrium Calculation in Oligopoly Models

2020 ◽  
pp. 63-67
Author(s):  
G.I. Algazin ◽  
D.G. Algazina
Keyword(s):  
Decision Making ◽  
Dynamic Decision Making ◽  
Linear Functions ◽  
Product Model ◽  
Market Prices ◽  
Current Output ◽  
Rational Agents ◽  
Optimal Behavior ◽  
Marginal Costs ◽  
Decision Making Processes

The problem of choosing the optimal behavior of agents in the classic one-product model of the competitive market under linear functions of demand and costs of agents is considered. The dynamic decision-making processes under conditions of uncertainty of decision making by competitors, performed as repeatable static games within a range of admissible answers, are investigated. The analysis targets processes with rational agents using approaches of multi-step reflexive games and models of collective behavior to refine the solutions while observing the current market prices of goods. The processes are distinguished by choosing the current targets: in one case, the agents choose their current output as the current targets when refining the solutions; in another case, the current targets are perceptions of agents about the current equilibrium marginal cost of other agents. It is shown that for oligopolies with Cournot and/ or Stackelberg competition, processes with agents focused on the expected optimum output are more preferable than processes with agents focused on their perceptions of the equilibrium marginal costs of competitors because there are greater opportunities for finding equilibrium states.

scholarly journals An integrated ethical approach to bioethical decision-making: A proposed model for ministers

2012 ◽  
Vol 46 (1) ◽  
Author(s):  
Magdalena C. De Lange
Keyword(s):  
Decision Making ◽  
Ethical Decision Making ◽  
Integrative Model ◽  
Ethical Decisions ◽  
Proposed Model ◽  
Contextual Elements ◽  
Decision Making Processes ◽  
The Individual ◽  
The Right ◽  
Reflective Skills

This article outlined a model for guidance in ‘doing’ bioethics in a Reformed context. The proposed model suggested that in order to arrive at responsible ethical decisions, one must refer to both contextual elements and theory. The theoretical grounding for this model was based on the integration of a deontological and virtue ethics approach, arguing that virtue enables persons to know and desire the right moral ends and motivates them to carry out appropriate action toward achieving these ends. An integrative model opens up the possibility whereby bioethics as a systematic tool provides the individual decision-maker with the critical-reflective skills and justification for the ultimate choice that is lacking in the general decision-making processes. This could lead to clearer thinking and increased confidence in the justification of decisions within the Reformed tradition. The proposed hermeneutical perspective on ethical decision-making represents a shift in views about the nature of knowledge and the process of how we come to know. The key to this hermeneutical approach is to acknowledge the dialectic between the universal and the subjectivity of human relations. Working in specific religious communities, one needs to take cognisance of the fact that knowledge is situated in the context of human relationships in which the interpreter participates when articulating the meaning of bioethical experiences. Another aspect that is anticipated lies in the realisation that people struggling with bioethical dilemmas should not be viewed as isolated individuals, but as members of a broader faith community.‘n Geïntegreerde etiese benadering tot bioetiese besluitneming: Voorgestelde model vir predikante. Hierdie artikel het ‘n model geskets wat moontlike riglyne aantoon vir die  beoefening  van  bioetiek  binne  ‘n  Gereformeerde  konteks.  Die  voorgestelde  model argumenteer dat verwysing na beide kontekstuele elemente en teorie onafwendbaar is om tot verantwoordelike bioetiese besluite te kan kom. Die teoretiese begronding vir hierdie model het op die integrasie van deontologiese- en karakteretiek berus en is gebaseer op die argument dat karakteretiek persone in staat stel om die regte morele doelwitte te ken en motiveer hulle ook om die nodige stappe te neem om dit te bereik. ‘n Geïntegreerde model skep die moontlikheid vir bioetiek as ‘n sistematiese stuk gereedskap om die individuele besluitnemer met die kritiesreflektiewe vaardighede en gronde vir regverdiging van die finale keuses toe te rus, aspekte wat in algemene besluitnemingsprosesse ontbreek. Dit kan ook lei tot helderder denke en groter vertroue in die motivering van besluite binne die Gereformeerde tradisie. Die voorgestelde hermeneutiese perspektief op etiese besluitneming verteenwoordig ‘n verskuiwing in aanvaarde sienings oor die aard van kennis en die prosesse wat tot kennis lei. Die sleutel tot hierdie hermeneutiese benadering is om erkenning te gee aan die dialektiek tussen die universele en subjektiewe menslike verhoudings. Dit is veronderstel dat persone wat in spesifieke geloofsgemeenskappe werk daarop ag moet slaan dat kennis binne die konteks van menslike verhoudings – waarbinne die interpreteerder funksioneer – gesetel is wanneer die betekenis van bioetiese ervaring geartikuleer word. ‘n Verdere aspek was die erkenning van die feit dat mense wat met bioetiese dilemmas worstel nie as geïsoleerde individue beskou moet word nie, maar as lede van ‘n breër geloofsgemeenskap.

Contingency Release During Project Execution: The Contractor’s Decision-Making Dilemma

2019 ◽  
Vol 50 (6) ◽  
pp. 734-748 ◽  
Author(s):  
Bilal Ayub ◽  
Muhammad Jamaluddin Thaheem ◽  
Fahim Ullah
Keyword(s):  
Decision Making ◽  
Risk Perception ◽  
Performance Indicators ◽  
Construction Projects ◽  
Project Managers ◽  
Dynamic Decision Making ◽  
Quality And Safety ◽  
Stakeholder Satisfaction ◽  
Proposed Model ◽  
Timely Completion

Risk is inherent in construction projects and managed through contingency. Dynamic management of contingency escrow accounts during project execution poses decision-making challenges. Project managers use key performance indicators (KPIs) for contingency release decisions. However, their subjective mental models influence risk perception, exacerbating the decision-making dilemma. This research integrates project KPIs with future risk perception to develop a mathematical model for facilitating such decision making. Results suggest timely completion, project cost, stakeholder satisfaction, quality and safety as top KPIs, and the influence of managerial pressure as a significant decision contributor. The proposed model helps project managers in dynamic decision making for cost contingency.

scholarly journals IMP: it’s time to get emotional! Understanding the role of negative emotions in dynamic decision-making processes

2020 ◽  
Vol 35 (12) ◽  
pp. 2151-2163
Author(s):  
Nikolina Koporcic ◽  
Miika Nietola ◽  
John D. Nicholson
Keyword(s):  
Decision Making ◽  
Bounded Rationality ◽  
Negative Emotions ◽  
Dynamic Decision Making ◽  
Business World ◽  
Content Type ◽  
Methodological Choices ◽  
Managerial Implications ◽  
Decision Making Processes

Purpose The purpose of this paper is to investigate the current industrial marketing and purchasing (IMP) research that has a vague positioning of the bounded rationality of an actor. By borrowing insights from other disciplines, this study aims to develop the IMP approach further by acknowledging the importance of individuals who act and make decisions on behalf of their companies. Design/methodology/approach This study is conceptual. By examining the IMP studies in combination with decision-making literature from behavioral economics and psychology, this paper provides a new understanding of the phenomenon in question. Findings This study demonstrates that individual decision-making is not as rational as has previously been thought, thus indicating the bounded rationality of the actor. After examining the most common negative emotions that influence the decision-making process, the paper presents a research agenda. It provides a series of research topics and methodological choices for future IMP research endeavors. Research limitations/implications As this paper is conceptual, empirical research is needed to examine the role of negative emotions in dynamic decision-making processes. Practical implications Managerial implications of this paper are focused on providing instructions for managers on how to deal with negative emotions in dynamic decision-making processes. Originality/value To the best of the authors’ knowledge, this paper is one of the first papers that attempts to connect the IMP studies with the dynamics of decision-making by examining negative emotions in the business world.

Adaptive and dynamic decision-making processes: A conceptual model of production systems on Indian farms

2017 ◽  
Vol 157 ◽  
pp. 279-291 ◽  
Author(s):  
Marion Robert ◽  
Alban Thomas ◽  
Muddu Sekhar ◽  
Shrinivas Badiger ◽  
Laurent Ruiz ◽  
...  
Keyword(s):  
Decision Making ◽  
Conceptual Model ◽  
Production Systems ◽  
Dynamic Decision Making ◽  
Decision Making Processes
Sign in / Sign up

Export Citation Format

Share Document