64,627 research outputs found

    Two-Step Many-Objective Optimal Power Flow Based on Knee Point-Driven Evolutionary Algorithm

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    To coordinate the economy, security and environment protection in the power system operation, a two-step many-objective optimal power flow (MaOPF) solution method is proposed. In step 1, it is the first time that knee point-driven evolutionary algorithm (KnEA) is introduced to address the MaOPF problem, and thereby the Pareto-optimal solutions can be obtained. In step 2, an integrated decision analysis technique is utilized to provide decision makers with decision supports by combining fuzzy c-means (FCM) clustering and grey relational projection (GRP) method together. In this way, the best compromise solutions (BCSs) that represent decision makers' different, even conflicting, preferences can be automatically determined from the set of Pareto-optimal solutions. The primary contribution of the proposal is the innovative application of many-objective optimization together with decision analysis for addressing MaOPF problems. Through examining the two-step method via the IEEE 118-bus system and the real-world Hebei provincial power system, it is verified that our approach is suitable for addressing the MaOPF problem of power systems.Comment: Accepted by Journal Processe

    Stock Investment Value Analysis Model Based on AHP and Gray Relational Degree

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    The article presents a method for stock selection from the view of investors who contemplate stocks of a new investment. The AHP (Analytic Hierarchy Process) and Grey Relational Analysis are used as two integral parts of the method. By distilling information from the Judgment matrix, the AHP-GRA method provides a framework to assist investors in analyzing various investment factors, evaluating stock investment alternatives, and making final investment selections. The primary principle of the method is to match decision-makers’ preferences with stock characteristics. The model requires that a number of potential stocks have been proposed. Alternatives are then evaluated and compared under various factors. It allows investor to incorporate personal preference and judgement in the solution process. An example of evaluating eight listed companies in the steel industry of China is showed to illustrate the solution process, the results of which are promising.Key words: Stock Investment Decision; Judgment Matrix; AHP; Grey Relational Analysi

    Decision aid problems criteria for infrastructure networks vulnerability analysis (regular paper)

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    Natural disasters through infrastructure networks might aggravate or mitigate consequences to stakes. The objective of this paper is to characterize this kind of situation in order to provide a solid foundation for the decision aid. This characterization includes a description of the typology, actions and potential actions identification, determining preference systems, as well as a set of specific problems to each phase

    Toward a relational concept of uncertainty: about knowing too little, knowing too differently, and accepting not to know

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    Uncertainty of late has become an increasingly important and controversial topic in water resource management, and natural resources management in general. Diverse managing goals, changing environmental conditions, conflicting interests, and lack of predictability are some of the characteristics that decision makers have to face. This has resulted in the application and development of strategies such as adaptive management, which proposes flexibility and capability to adapt to unknown conditions as a way of dealing with uncertainties. However, this shift in ideas about managing has not always been accompanied by a general shift in the way uncertainties are understood and handled. To improve this situation, we believe it is necessary to recontextualize uncertainty in a broader way¿relative to its role, meaning, and relationship with participants in decision making¿because it is from this understanding that problems and solutions emerge. Under this view, solutions do not exclusively consist of eliminating or reducing uncertainty, but of reframing the problems as such so that they convey a different meaning. To this end, we propose a relational approach to uncertainty analysis. Here, we elaborate on this new conceptualization of uncertainty, and indicate some implications of this view for strategies for dealing with uncertainty in water management. We present an example as an illustration of these concepts. Key words: adaptive management; ambiguity; frames; framing; knowledge relationship; multiple knowledge frames; natural resource management; negotiation; participation; social learning; uncertainty; water managemen

    Business intelligence systems and user's parameters: an application to a documents' database

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    This article presents earlier results of our research works in the area of modeling Business Intelligence Systems. The basic idea of this research area is presented first. We then show the necessity of including certain users' parameters in Information systems that are used in Business Intelligence systems in order to integrate a better response from such systems. We identified two main types of attributes that can be missing from a base and we showed why they needed to be included. A user model that is based on a cognitive user evolution is presented. This model when used together with a good definition of the information needs of the user (decision maker) will accelerate his decision making process

    Capital budgeting under relational contracting: optimal ranking and duration criteria for schemes of concession, project-financing and public-private partnership

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    Project-financing and public-private partnership schemes are joint projects of investment that are generally submitted to investment valuation criteria based on compound discounting. However, the theoretical basis of these criteria is at issue nowadays. According to recent studies on relational contracting economics and behavioral finance, joint projects of investment can be considered as special relational environments where the project's returns improve on alternative replacement opportunities. This article aims to bridge the gap between new theories and widespread valuation techniques by providing a generalised approach to investment valuation. This article suggests new valuation criteria that fit those theoretical developments, including an endogenous optimal duration that the project's contractual agreement may integrate.discounting; investment decision criteria; capital budgeting; project finance and public private partnerships; endogenous optimal duration; cost of capital for government

    Strategic decision-making process (SDMP) in times of crisis:evidence from Greek banks

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    This paper investigates the strategic decision making process (SDMP) of Greek banks’ top management in the context of profound organisational changes introduced in 2012 due to the aftermath of the 2008 global financial crisis. It focuses on the impact of three key dimensions of the SDMP, namely, rationality, intuition and political behaviour, relating to four changes introduced, namely, mergers and acquisitions, branch network rationalisation, integration of information technology (IT) and downsizing of operations and personnel. A survey questionnaire was conducted, targeting Greek banks’ top management. Out of 140 questionnaires, 78 were returned, a 55.71% response rate. Data was analysed using structural equation modelling. Research findings identify rationality as a key dimension of SDMP for all organisational changes, as there was high focus on identifying and analysing all required information, use of external financial advisors, and reliance on multiple methods of information gathering. Decision-makers used their intuition in the form of past experience when making acquisition decisions, whilst their personal judgment and “inner voice” were neglected.Finally, political behaviour was not displayed during this process, as decision-makers were open with each other about their interests and preferences, and there was no bargaining, negotiation or use of power amongst them. One limitation was that of not considering all the factors that might help measure SDMP. Also, this study was conducted in a period of political and financial uncertainty for Greek banks, as well as for the Greek economy in general, so findings may not be generalizable to other industries and countries. Conducting interviews could have offered deeper insight as well. This study’s value lies in the fact that the organisational changes were determined by Greece’s leaders, and thus the Greek banks had to operate under a dynamic, inflexible and non-autonomous environment. Also, this study extends prior SDMP research by examining the impact of the three key SDMP dimensions on four types of organisational change

    Getting Obligations Right: Autonomy and Shared Decision Making

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    Shared Decision Making (‘SDM’) is one of the most significant developments in Western health care practices in recent years. Whereas traditional models of care operate on the basis of the physician as the primary medical decision maker, SDM requires patients to be supported to consider options in order to achieve informed preferences by mutually sharing the best available evidence. According to its proponents, SDM is the right way to interpret the clinician-patient relationship because it fulfils the ethical imperative of respecting patient autonomy. However, there is no consensus about how decisions in SDM contexts relate to the principle of respect for autonomy. In response, I demonstrate that in order to make decisions about what treatment they will or will not receive, patients will be required to meet different conditions depending on the approach proponents of SDM take to understanding personal autonomy. Due to the fact that different conceptions of autonomy yield different obligations, I argue that if physicians and patients satisfied all the conditions described in standard accounts of SDM, then SDM would undermine patient autonomy

    Incorporating stakeholders’ knowledge in group decision-making

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