12,626 research outputs found
Evaluation of e-learning web sites using fuzzy axiomatic design based approach
High quality web site has been generally recognized as a critical enabler to conduct online business. Numerous studies exist in the literature to measure the business performance in relation to web site quality. In this paper, an axiomatic design based approach for fuzzy group decision making is adopted to evaluate the quality of e-learning web sites. Another multi-criteria decision making technique, namely fuzzy TOPSIS, is applied in order to validate the outcome. The methodology proposed in this paper has the advantage of incorporating requirements and enabling reductions in the problem size, as compared to fuzzy TOPSIS. A case study focusing on Turkish e-learning websites is presented, and based on the empirical findings, managerial implications and recommendations for future research are offered
Are Risk Averse Agents More Optimistic? A Bayesian Estimation Approach
Our aim is to analyze the link between optimism and risk aversion in a subjective expected utility setting and to estimate the average level of optimism when weighted by risk tolerance. This quantity is of particular importance since it characterizes the consensus belief in risk-taking situations with heterogeneous beliefs. Its estimation leads to a nontrivial statistical problem. We start from a large lottery survey (1,536 individuals). We assume that individuals have true unobservable characteristics and that their answers in the survey are noisy realizations of these characteristics. We adopt a Bayesian approach for the statistical analysis of this problem and use an hybrid MCMC approximation method to numerically estimate the distributions of the unobservable characteristics. We obtain that individuals are on average pessimistic and that pessimism and risk tolerance are positively correlated. As a consequence, we conclude that the consensus belief is biased towards pessimism.Bayesian estimation, MCMC scheme, importance sampling, pessimism, risk tolerance, risk aversion, consensus belief
Are Risk-Averse Agents more Optimistic? A Bayesian Estimation Approach.
Our aim is to analyze the link between optimism and risk aversion in a subjective expected utility setting and to estimate the average level of optimism when weighted by risk tolerance. Its estimation leads to a non-trivial statistical problem. We start from a large lottery survey (1536 individuals). We assume that individuals have true unobservable characteristics. We adopt a Bayesian approach and use a hybrid MCMC approximation method to numerically estimate the distributions of the unobservable characteristics. We find that individuals are on average pessimistic and that pessimism and risk tolerance are positively correlated.Bayesian Estimation; MCMC Scheme; Importance Sampling; Pessimism; Risk Tolerance; Risk Aversion; Consensus Belief;
Are Risk Averse Agents More Optimistic? A Bayesian Estimation Approach
Our aim is to analyze the link between optimism and risk aversion in a subjective expected utility setting and to estimate the average level of optimism when weighted by risk tolerance. This quantity is of particular importance since it characterizes the consensus belief in risk-taking situations with heterogeneous beliefs. Its estimation leads to a nontrivial statistical problem. We start from a large lottery survey (1,536 individuals). We assume that individuals have true unobservable characteristics and that their answers in the survey are noisy realizations of these characteristics. We adopt a Bayesian approach for the statistical analysis of this problem and use an hybrid MCMC approximation method to numerically estimate the distributions of the unobservable characteristics. We obtain that individuals are on average pessimistic and that pessimism and risk tolerance are positively correlated. As a consequence, we conclude that the consensus belief is biased towards pessimism.Bayesian estimation, MCMC scheme, importance sampling, pessimism, risk tolerance, risk aversion, consensus belief
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A review of fuzzy AHP methods for decision-making with subjective judgements
Analytic Hierarchy Process (AHP) is a broadly applied multi-criteria decision-making method to determine the weights of criteria and priorities of alternatives in a structured manner based on pairwise comparison. As subjective judgments during comparison might be imprecise, fuzzy sets have been combined with AHP. This is referred to as fuzzy AHP or FAHP. An increasing amount of papers are published which describe different ways to derive the weights/priorities from a fuzzy comparison matrix, but seldomly set out the relative benefits of each approach so that the choice of the approach seems arbitrary. A review of various fuzzy AHP techniques is required to guide both academic and industrial experts to choose suitable techniques for a specific practical context. This paper reviews the literature published since 2008 where fuzzy AHP is applied to decision-making problems in industry, particularly the various selection problems. The techniques are categorised by the four aspects of developing a fuzzy AHP model: (i) representation of the relative importance for pairwise comparison, (ii) aggregation of fuzzy sets for group decisions and weights/priorities, (iii) defuzzification of a fuzzy set to a crisp value for final comparison, and (iv) consistency measurement of the judgements. These techniques are discussed in terms of their underlying principles, origins, strengths and weakness. Summary tables and specification charts are provided to guide the selection of suitable techniques. Tips for building a fuzzy AHP model are also included and six open questions are posed for future work
Stable Feature Selection for Biomarker Discovery
Feature selection techniques have been used as the workhorse in biomarker
discovery applications for a long time. Surprisingly, the stability of feature
selection with respect to sampling variations has long been under-considered.
It is only until recently that this issue has received more and more attention.
In this article, we review existing stable feature selection methods for
biomarker discovery using a generic hierarchal framework. We have two
objectives: (1) providing an overview on this new yet fast growing topic for a
convenient reference; (2) categorizing existing methods under an expandable
framework for future research and development
Pythagorean 2-tuple linguistic power aggregation operators in multiple attribute decision making
In this paper, we investigate the multiple attribute decision making
problems with Pythagorean 2-tuple linguistic information.
Then, we utilize power average and power geometric operations
to develop some Pythagorean 2-tuple linguistic power aggregation
operators: Pythagorean 2-tuple linguistic power weighted
average (P2TLPWA) operator, Pythagorean 2-tuple linguistic power
weighted geometric (P2TLPWG) operator, Pythagorean 2-tuple linguistic
power ordered weighted average (P2TLPOWA) operator,
Pythagorean 2-tuple linguistic power ordered weighted geometric
(P2TLPOWG) operator, Pythagorean 2-tuple linguistic power
hybrid average (P2TLPHA) operator and Pythagorean 2-tuple linguistic
power hybrid geometric (P2TLPHG) operator. The prominent
characteristic of these proposed operators are studied. Then,
we have utilized these operators to develop some approaches to
solve the Pythagorean 2-tuple linguistic multiple attribute decision
making problems. Finally, a practical example for enterprise
resource planning (ERP) system selection is given to verify the
developed approach and to demonstrate its practicality and
effectiveness
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