2 research outputs found
A Note on the Art of Network Design Problems
In this study, we describe some Network Design Problems (NDPs) as well as the network flowbased improvement algorithm for neighbourhood search defined by cycles. The main part of the study is structured around the formulation of the expected duration of stay in the educational system as a NDP. The fundamental matrix of the absorbing Markov chain is employed in computing the expected duration of each flow in the system. We shall illustrate the new graphtheoretic formulation for the educational system using datasets from a university setting. The paper concludes with suggestions for future directions of research.Keywords: absorbing Markov chain; educational system; graph theory; network design
Recommended from our members
The history of banking technologies in the UK: patterns of technological investment decision-making and expertise
The central role of banking in the 2008 credit crisis has been the source of much controversy about the quality and robustness of decision-making in the Financial Services sector. This paper aims to surface the influence of the historical evolution of expertise in the banking sector, on such decisions and, in so doing, to underline that the decision-making activity is strongly linked to the views of dominant expert groups in the industry in each era. The paper proposes that Technological Investment Decision Making (TIDM), as viewed historically, has been highly contingent to both technological developments in banking and the subsequent developments in banking expertise that provides the pool for decision-makers in the industry.The paper adopts an historical perspective to illustrate that, counter to popular belief, TIDM is a socially constructed process rather than the outcome of any normative exercise. History demonstrates that there is no optimal method for TIDM with rigour and accuracy of execution determining successful outcomes. On the contrary, in each era, the "right way" to perform TIDM has always been underpinned by the standpoints and beliefs of specialised practitioners who dominated the UK banking industry and by the received wisdom of a community of expert professionals, administrators and think tanks, dictating "realities" on the state of the economy, the role of banks and the value of technologies