International Journal of Management and Decision Making (4 papers in press)
- Using Fuzzy TOPSIS method for optimizing Olive agro-engineering processes based on Geo-Spatial Technologies
by Giada La Scalia, Rosanna Sciortino, Francesco Paolo Marra, Tiziano Caruso, Juliane Ruhl
Abstract: In Southern Italy, the olive oil sector is an important part of the primary sector and its development requires support from research to ensure its sustainability. This work proposes the first step for set up a Decision-Support System (DSS) for establishing mechanization in agricultural operations for different olive groves. To contribute to this goal researches have been carried out to test the ability of Remote Sensing (RS) and Geographic Information System (GIS) to map olive groves and their agronomic characteristics. In detail, this study aimed to classify olives grove areas in terms of agronomic suitability and detect horticultural characteristics of olive groves in order to develop a fuzzy multicriteria decision making method for managing mechanical harvesting and pruning. The detection and interpretation of horticultural traits was conducted on two different olive groves areas of Sicily. Results demonstrate that fuzzy Topsis can be a useful decision making tool combined with the automatable methodology for data acquisition.
Keywords: Olive groves, Agricultural management, Remote Sensing (RS), Geographic Information System (GIS), Fuzzy Topsis.
- Identifying and ranking earthquake disaster prevention strategies in Tehran
by Mona Sadeghi, Kamran Shahanaghi, Majeed Heydari
Abstract: The disaster management prevention which comes from natural disasters such as earthquake is one of the most challenging urban management issues especially in metropolis like Tehran. In such a situation, identifying, evaluating and ranking effective earthquake disaster prevention strategies and in turn applying these strategies are of great interest to urban decision makers as well as disaster management communities. In this paper, we model the earthquake disaster prevention strategy evaluation and selection problem in Tehran as a multi attribute decision making problem. To do this, in the first step, possible prevention strategies are derived based on the previously reported researches as well as our experts opinions. Then, the time and cost of possible prevention strategies, the risk of going without each of these strategies as well as the applicability of each strategy are assumed to be decision making criteria. The relative importance of these criteria is derived based on the disaster management experts judgments in terms of linguistic variables. Afterward, the fuzzy AHP is applied to derive the weights of criteria and finally the PROMETHEE is used to rank the possible prevention strategies. As an illustrative real case study, we applied the proposed model to evaluate and rank the possible earthquake disaster prevention strategies in Tehran. The result suggests establishing regulations and compiling instructions as the first ranked strategy for earthquake disaster prevention plan in Tehran.
Keywords: Earthquake, Disaster management, Mitigation strategy, FAHP, PROMETHEE
- Integration of factors affecting Venture Capitalists' investment decision: An Interpretive structural modeling (ISM) approach
by Monika Dhochak, Anil Kumar Sharma
Abstract: In last few years, researchers view that venture capitalists does not always follow the same criteria suggested by theory, however they use a multi-criteria decision analysis for screening a new proposal. The first objective of this study is to identify the criteria used by Indian venture capitalists in investment decision-making process. Second, it analyses the relationship among pre-determined decision-making factors. Selecting a new venture is a tedious job for venture capitalists due to the direct and indirect effect of certain factors. For this purpose, exploratory factor analysis was used to extract the determinants of investment decision-making process, and interpretive structural modeling (ISM) was conducted to establish a hierarchal relationship among key decision-making enablers. Afterwards, a diagraph facilitates to accomplish the logical framework as per their relative dependence and driving powers. It is found that financial consideration is the most important factor that depends on other driving powers. The findings of the relationship-based approach may help to mitigate the adverse selection process. The insights of this model would assist the investors, entrepreneurs and researchers to understand the complex relationship among significant decision-making factors.
Keywords: Venture Capital, Venture Capitalists, Decision-making process, ISM, MICMAC analysis
- Cognitive Styles in Dynamic Decision Making. A Laboratory Experiment.
by Matteo Cristofaro
Abstract: Dynamic Decision Making processes of executives are pivotal for a companys performance, especially in hypercompetitive environments in which firms face high discontinuity; in those fast paced settings, executives constantly interpret the environment and, accordingly, adapt their decisions. This work investigates, in the Dynamic Decision Making process setting, the differences, in terms of cognitive style, rapidity and accuracy, among the recently identified by the Dynamic Decision Making literature adaptive behaviour and the others deviating from it (i.e. fixated, stalled, vagabonding). A laboratory experiment was conducted in which 203 graduate students coped with a dynamic multi-step business case and also completed the Myers Briggs Type Indicator test. Results show how Dynamic Decision Making behaviours have some differences in rapidity and accuracy and major differences among cognitive styles. The slight difference between some behaviours, such as adaptive and vagabonding, on cognitive styles previously regarded as uninfluential, have here re-emerged as pivotal, raising the interest in their study.
Keywords: Decision Making; Cognitive Styles; Personality; Problem solving.