International Journal of Applied Decision Sciences (18 papers in press)
Multicriteria techniques for consensus in group decision making: a literature review.
by Lucas Daniel Del Rosso Calache, Lucas G. Zanon, Ingrid S.C. De Souza Feitosa, Rafael F. M. Arantes, Luiz C.R. Carpinetti
Abstract: This paper aims at conducting a systematic literature review regarding the application of multicriteria techniques for consensus in group decision making. It is presented a framework that consists in the following steps: formalization of research concepts, aim and question; strings input into the Web of Science, Scopus and Emerald databases; removal of duplicates and results classification by year of publication, country, consensus approach, information representation, applied technique and application theme. The results were stratified in the categories: supplier selection, project selection, equipment selection, location selection, investment selection and risk evaluation. The developed framework can be applied for guiding other reviews. The identification of consensus techniques and information representation is also of importance to provide insights for managers. Another finding is the differentiation between the mapped consensus approaches. Finally, future research opportunities were brought to light.
Keywords: Group decision; Multicriteria techniques; Consensus; Literature review.
An empirical study on Internet-based false news stories: experiences, problem awareness, and responsibilities
by Sven Grüner
Abstract: The Internet has significantly reduced the marginal costs of generating and disseminating information. The human information portfolio includes correct and incorrect information. False news stories constitute a challenge for our democracy. Therefore, scientists are increasingly interested in redesigning the information ecosystem. This paper addresses the problem awareness of university students in the realm of false news stories. With the help of a questionnaire, we seek for interesting correlations to generate hypotheses that can be analysed in further studies with new data (i.e., exploratory study).
Keywords: Study type: exploratory; information economics; false news stories; information ecosystem; social net-work; institutional economics.
An improved genetic algorithm for seru scheduling problem with worker assignment considering lot-splitting
by Zhe Zhang, Ling Shen, Yong Yin
Abstract: Seru, a production organization that consists of some equipment and one or more workers that assemble one or more products. It is known as a useful tool in production practice to cope with the volatile environment with diversified demand, short product life cycles and uncertain product types due to its high flexibility and effectiveness. In this paper, we will consider a seru scheduling problem with worker assignment considering lot-splitting, processing sequence and set-up time. We formulate a mathematical model with the objective of minimizing the makespan and employ an improved genetic algorithm with strong robustness and global optimization to solve this complex decision-making problem which is composed of two NP-hard subproblems. Finally, a numerical example is taken and computed to validate the effectiveness of proposed model and algorithm.
Keywords: seru scheduling; worker assignment; lot-splitting; adaptive genetic operator.
A method for partner selection of product development teams using the synergy requirements of product architecture
by Zhongfeng Hu, Minglun Ren
Abstract: Developers with better synergy is important for the formation of cross-functional product development teams. While extant research focuses on the coordination qualification of candidates, the synergy requirements of product architecture is overlooked. As a solution to this problem, a novel approach reinforced by the product architecture is proposed, where ideal synergic matrix (ISM) is derived from the product architecture to express its synergy requirements, real synergic matrix (RSM) is extracted from the collaborative relationships among different candidates, coordination deficit is proposed to characterise the satisfaction degree of the synergy requirements according to the matching level between ISM and RSM. To solve the model, a hybrid GA-PSO algorithm is developed. The experiment results show that our method can guarantee satisfactory and high quality partner selection for the actual product development scenario.
Keywords: product architecture; partner selection; product development; synergic effect; coordination deficit.
Impact of Social Media Technologies on Consumers Online Buying Tendencies with Moderating Role of Gender
by Mehnaz, Jiahua Jin, Abhinay Bhasin
Abstract: Nowadays, the research on social media is evolving owing to rapid saturation of information communications networks. In such scenario, firms need to rethink how to drive consumers buying tendencies (BT) since the market trend hastily transforming from traditional to online shopping. Such hip furnishes a new paradigm for marketers to seize consumers BT using innovative, top-ranked, and renowned social media technologies, especially social network sites (SNSs). This study prospected the linkage of revolutionary SNSs toward consumers BT from emerging nations like Pakistan. The findings revealed the positive relationships of SNSs, (e.g., Facebook, LinkedIn, Twitter, Youtube, and Pinterest) on consumers BT. In marketing perspective; this is the one of the pioneer studies that provides insights for strategic management to encourage consumers BT using SNSs in todays digital era. This study encourages the researchers to reveal further antecedents of SNSs within Pakistan and across the nations, especially with consideration of emerging nations.
Keywords: social network sites; SNSs; consumers online purchase intention; Islamic Republic of Pakistan; structure equation modelling.
Sustainable Performance Evaluation: A Practical Approach based on Fuzzy Best-Worst Method and Fuzzy Inference System
by Abdolreza Azadmanesh, Mohammad Reza Maleki
Abstract: Taking into account sustainability perspective, this paper proposes a practical integrated approach based on fuzzy best-worst method (BWM) and fuzzy inference system (FIS) for performance evaluation. In the proposed approach, the criteria are determined based on three aspects, namely economic, social, and environmental ones; and the corresponding weights are calculated using fuzzy BWM. Moreover, the performance of the company under study is evaluated for each of the sustainability aspects. Finally, an FIS is developed based on the knowledge of experts and the final score of the intended company is accordingly calculated. A real-world example using the knowledge of eight experts of Parsian Gas Refinery Company in Iran indicates the efficiency and effectiveness of the proposed approach.
Keywords: sustainable performance evaluation; best-worst method; fuzzy inference system; FIS; fuzzy theory; sustainability.
Supply Chain Value Co-creation and Flexibility Management Decisions Taking Supply Risk into Account
by Min Yang
Abstract: Value co-creation provides an effective way to prevent and control risks in supply chain enterprises. By building a three-stage supply chain game decision model under risk conditions, rational derivation is made on the dynamic relationship between supply chain flexibility management costs, flexible benefits, unit product costs, and supply chain value creation to investigate conditions required to achieve supply chain value co-creation and optimal flexibility management. Some useful conclusions were finding that the functional relationship between flexibility management cost and supply chain value co-creation is represented as the envelope curve of optimal supply chain value creation and supply chain risks, flexible benefit, and unit product cost exert a significant impact on supply chain flexibility management effect. This article proposes that under certain supply chain risks, companies should maximise the marginal benefits of supply chain flexibility management inputs, so that supply chain flexibility management inputs show positive benefits rather than cost effects.
Keywords: supply chain risk; supply chain flexibility; value creation.
Ranking Risk Attitudes Using an Integrated AHP-TOPSIS Approach
by Lubna Obaid, Haneen Abu Zaid, Doraid Dalalah, Salhah Alhassani, Fouzeya Albastaki, Tania El Khalil
Abstract: Due to the ambiguity between risk attitudes, this study aims at ranking the different risk attitudes considering the factors that affect the behaviour of the decision-makers. Both the technique for order preference by similarity to ideal solution (TOPSIS) and analytical hierarchy process (AHP) are employed to address the characteristics of risk attitudes aiming to highlight the criteria significance and finally to rank the most impactful risk attitude. It was found that regret aversion and risk aversion attitudes have higher impact in real life decision-making problems. In contrast, the maximin and maximax risk attitudes have the lowest importance. Risk seeking and regret aversion attitudes demonstrated the highest importance using TOPSIS of equal-weights while the importance of loss aversion and regret aversion have the highest for the AHP-TOPSIS approach. The results of this study can be beneficial for decision-makers who encounter a variety of risk attitudes in their decision problems.
Keywords: TOPSIS; regret aversion; analytical hierarchy process; AHP; risk attitudes; multi-criteria decision-making; MCDM.
Operational Values of Information Technology and Green Initiatives: The Stochastic Production Frontier Approach
by Chia-Ching Chou, Winston Lin, Chieh Lee, Zhuang Qian, Xinyuan Tao
Abstract: Previous studies regarding environmental issues in the field of information technology (IT) focused on the direct impact of IT on the environment and indicated a trade-off relationship between them. This study employs the resource-based view (RBV),theory of production, and stochastic production frontier (SPF) approach to empirically investigate the operational value creating power of IT and green initiatives at firm, industry, and sector level, providing evidence that the presence of IT and green initiatives can positively contribute to operational performance. Our findings suggest that the complementarity phenomenon exist between green initiatives and IT. Furthermore, this study shows detailed information on how IT and green initiatives contribute to operational performance in different ways, provides managers and decision makers a guideline for IT and green initiative investment decision-making, and develops a more realistic stochastic production frontier model for researchers to apply.
Keywords: information technology; green initiative; sustainability; stochastic production frontier: SPF: approach; theory of production.
Total Interpretive Structural Modelling of Machine learning Enablers in the Healthcare System
by Pooja Gupta, Ritika Mehra
Abstract: The primary objective of this research is to build a total interpretive structural model of different enablers, vital to implement machine learning in the healthcare system. This study begins by implementing the progressive methodology of TISM to investigate the mutual dependence among ML enablers in the healthcare system. Further, the classification of enablers has been done based upon the driving power and dependence. A structural model of ML enablers has also been developed using the TISM procedure. Ten enablers of ML implementation have been recognised from the literature and experts opinions. TISM is applied to develop a six-level hierarchical structural model. The proposed study encourages decision-makers to focus on the necessary steps to implement these enablers. Enablers at the bottom of the TISM hierarchy are the ones with reliable driving power and these the lowest level enablers need more consideration from top administration.
Keywords: machine learning; interpretive structural modelling; healthcare; MICMAC; total interpretive structural modelling; medical models; driving power; dependence; enablers.
An EOQ model for non-instantaneous deteriorating items with time dependent quadratic rate, linear holding cost and partial backlogging rate under trade credit policy
by Babangida Bature, Yakubu Mamman Baraya
Abstract: In this article, an EOQ model for non-instantaneous deteriorating items with two phase demand rates, time dependent linear holding cost and shortages under trade credit policy is developed. The demand rate before deterioration begins is assumed to be time dependent quadratic and that after deterioration begins is considered as a constant. Shortages are allowed and partially backlogged. The purpose of this work is to determine the optimal time with positive inventory, cycle length and economic order quantity simultaneously such that total variable cost has minimum value. The necessary and sufficient conditions for the existence and uniqueness of the optimal solutions are presented. Some numerical examples were given to illustrate the model developed. Sensitivity analysis is carried out to see the effect of changes in some model parameters on decision variables and suggestions toward minimising the total variable cost were also given.
Keywords: non-instantaneous deterioration; time dependent quadratic rate; trade credit policy; linear holding cost; partially backlogged shortages; economic order quantity; EOQ.
An Enhanced Parallel Processing Algorithm Based on TOP-K Decomposition of Hypercube Model
by Quanyou Zhang, Bao-hua Qiang, Yong Feng, Yaohui Li
Abstract: Parallel processing technology has been widely used in many fields. Usually we will discuss the technology of large-scale data parallel computing based on network. The parallel processing method based on hypercube model could divide large-scale data into a large number of sub-datasets, which will be distributed to each processing unit. But empty hypercube units existed because of uneven segmentation. To solve this question, an enhanced parallel processing algorithm based on TOP-K (it is equal to selecting the kth data from the ordered data) decomposition of hypercube model was proposed to evenly divide large-scale data in parallel processing. Experiment result shows that the proposed algorithm has some enhancement on time complexity, scalability and speedup in contrast with the parallel processing method based on hypercube model.
Keywords: parallel processing; TOP-K decomposition; hypercube model.
Shareholder value in European banks after the global financial crisis: an empirical analysis
by Matteo Cotugno, Simona Galletta, Sebastiano Mazzù
Abstract: This paper investigates the determinants of shareholder value in European banks over a seven-year period from 2011 to 2017. Using a panel fixed effects regression model, we find that banks that focused more on traditional lending activities and increased their risk-taking level generate greater shareholder value. Shareholder value is a persistent variable over time; bank size has a positive impact on shareholder value, while financial leverage has a negative influence. We also find a negative relationship between gross domestic product per capita (GDPPC) and shareholder value. Further analyses were conducted by clustering the sample into subsamples based on GDPPC, the density of bank branches and bank size. The main results are confirmed with a robustness check using a two-step IV-GMM estimate.
Keywords: shareholder value; banks; economic value added; EVA.
Critical diversity dimensions influencing effective diverse workforce: a grey-DEMATEL approach
by Mavis Agyapomah Baafi, Jiang Xin-Ying, Ebenezer Fiifi Emire Atta Mills
Abstract: In an attempt to increase organisational innovativeness and productivity, there is a need to identify the key diversity dimensions needed in the telecommunication industry of Ghana and the degree of influence and significance of these diversity dimensions. The contribution of this paper is in the proposed approach that combines the grey-DEMATEL to evaluate relevant diversity dimensions and their influence and significance. Diversity dimensions were sourced from literature and assessed by 15 experts. The findings revealed that the critical diversity dimensions which influence effective diversified workforce are age, educational level, gender, personality, ethnicity and cultural values, and physical abilities and characteristics. Age and gender are characterised as reason diversity dimensions, i.e., essential diversity dimensions influencing other dimensions. The managerial implication is that in designing strategies to achieve an effective and efficient diverse workforce that contributes to higher productivity or increased return on investment, prominence should be placed on the critical diversity dimensions.
Keywords: diversity dimension; workforce; grey-DEMATEL; mobile telecommunication industry; Ghana.
Analytical evaluation of the barriers to blockchain technology implementation in supply chains
by Akram Shaabani, Laya Olfat, Iman Raeesi Vanani
Abstract: Recent studies show that technological developments have been effective in the way businesses operate. Blockchain technology has emerged later than other technologies, such as internet of things, automated tools, and Industry 4.0. As a digital distribution office, blockchain technology ensures transparency, security, and traceability of all processes performed in supply chain, which facilitates supply chain management. This technology is very effective in reducing the cost and time of activities in the supply chain, which has significant advantages for companies. The aim of present study was to investigate barriers to blockchain technology implementation in supply chain with regard to technical, organisational, and external dimensions. To investigate the barriers, we used the fuzzy technique for order preference by similarity to ideal solution (TOPSIS) method. The fuzzy TOPSIS technique, which is an MCDM approach, is used in ranking variables. To this end, the indicators which are effective in preventing the blockchain technology implementation are collected, and, upon receiving the approval of the specialised academic experts in the field, ranked using fuzzy TOPSIS method.
Keywords: supply chain; blockchain technology; fuzzy Shannon's entropy; fuzzy TOPSIS.
Optimal liquidation with jump-diffusion process
by Qixuan Luo, Can Jia, Handong Li
Abstract: Under the assumption of the asset prices obey jump-diffusion process, static optimal liquidation strategies and efficient frontier are provided based on the mean-variance criterion and the minimum loss probability criterion separately. Furthermore, this paper analysed the impact of price jump component on optimal liquidation strategy. And the results indicate that, under the mean-variance criterion, the price jump component will change the trajectory of the optimal liquidation strategy and the final liquidation cost. While under the minimum loss probability criterion, the price jump component will not affect the optimal liquidation strategy, but will change the value of minimum loss probability.
Keywords: price process; jump component; price impact; optimal liquidation strategy; efficient frontier.
Short-term traffic flow forecasting using the autoregressive integrated moving average model in Metro Cebu (Philippines)
by Dharyll Prince M. Abellana
Abstract: Traffic congestion is a major problem faced by many cities across the globe. The drawbacks of such problem are much more severe in developing countries due to the weak enforcement of policies, and lack of infrastructures to handle congestion, among others. In this paper, an autoregressive integrated moving average (ARIMA) model is developed to analyse the traffic flow dynamics of the Philippines, which is a relatively under-explored area in the current literature. Results show that the model attains good predictive performance. Several scholarly implications are drawn out from such results. Above all, the results provide theoretical lenses with which traffic conditions in developing countries can be examined. Moreover, such results aid in streamlining strategies and initiatives for managing traffic challenges in developing countries.
Keywords: short-term traffic forecasting; traffic in the Philippines; ARIMA; time series forecasting.
Multi-depot vehicle routing problem with cooperative transportation in terminal distribution
by Jingjing Hu, Youfang Huang, Zhi-Hua Hu
Abstract: We design a method of cooperative transportation. In this method, the original scattered transportation resources from express distribution point to terminal distribution center are integrated through cooperative transportation. This is a multi-depot vehicle routing problem. Firstly, we transform it into a vehicle routing problem with single-depot, and the branch and bound (B&B) algorithm is improved to solve it. Next, we design greedy algorithm to solve the vehicle routing problem with multi-depot, and get the approximate optimal solution. The B&B algorithm can get accurate results while the computing time of greedy algorithm is shorter. Directly solving the problem can retain the characteristics of the original problem, and the solution can reflect the actual situation better. The transformation reduces the complexity of the problem, but some feasible solutions may be lost.The experimental results show that the efficiency of transportation resource utilisation is improved after optimisation, which is helpful to make more economic transportation decisions.
Keywords: cooperative transportation; multi-depot routing problem; branch and bound algorithm; greedy algorithm.