265 research outputs found
Enhancing strategic management using a quantified VRIO: Adding value with the MCDA approach
The field of strategic management has been popularized since the 1960s, as an
aid for the search of success factors amongst the internal and external
surroundings of an organization. Strategic management has observed and
created strategies that are considered as pillars in the present way of applying
contemporary management operations. Even though strategic management relies on
managersâ capability to comprehend the current economic trends, this area has left a variety
of questions unanswered, especially regarding the analyses of the combination of
quantitative and qualitative decision criteria. This dissertation aims to enhance strategic
management by developing a quantified valuable, rare, inimitable and organized (VRIO)
framework, with the aid of the multiple criteria decision analysis (MCDA) approach. To
accomplish this objective, the VRIO framework is combined with the Choquet integral (CI)
and a real-life application is carried out to support strategic management. The dual
methodology used in this dissertation offers an innovative process for business
improvement. The benefits and limitations are also presented and discussed
Managing Interacting Criteria: Application to Environmental Evaluation Practices
The need for organizations to evaluate their environmental practices has been recently increasing. This fact has led to the development of many approaches to appraise such practices. In this paper, a novel decision model to evaluate companyâs environmental practices is proposed to improve traditional evaluation process in different facets. Firstly, different reviewersâ collectives related to the companyâs activity are taken into account in the process to increase company internal efficiency and external legitimacy. Secondly, following the standard ISO 14031, two general categories of environmental performance indicators, management and operational, are considered. Thirdly, since the assumption of independence among environmental indicators is rarely verified in environmental context, an aggregation operator to bear in mind the relationship among such indicators in the evaluation results is proposed. Finally, this new model integrates quantitative and qualitative information with different scales using a multi-granular linguistic model that allows to adapt diverse evaluation scales according to appraisersâ knowledge
Ambiguity and Social Interaction
We examine the impact of ambiguity on economic behaviour. We present a relatively non-technical account of ambiguity and show how it may be applied in economics. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the effect of increasing (decreasing) equilibrium prices under Cournot (Bertrand) competition. We also examine the effects of ambiguity on peace processes. It is shown that ambiguity can act to select equilibria in coordination games with multiple equilibria. Some comparative statics results are derived for the impact of ambiguity in games with strategic complements.
Ambiguity and social interaction
We examine the impact of ambiguity on economic behaviour. We present a relatively non-technical account of ambiguity and show how it may be applied in economics. Optimistic and pessimistic responses to ambiguity are formally modelled. We show that pessimism has the effect of increasing (decreasing) equilibrium prices under Cournot (Bertrand) competition. We also examine the effects of ambiguity on peace processes. It is shown that ambiguity can act to select equilibria in coordination games with multiple equilibria. Some comparative statics results are derived for the impact of ambiguity in games with strategic complements
Modelling multicriteria value interactions with Reasoning Maps
Idiographic causal maps are extensively employed in Operational Research to support problem structuring and complex decision making processes. They model means-end or causal discourses as a network of concepts connected by links denoting influence, thus enabling the representation of chains of arguments made by decision-makers. There have been proposals to employ such structures to support the structuring of multicriteria evaluation models, within an additive value measurement framework. However, a drawback of this multi-methodological modelling is the loss of richness of interactions along the means-end chains when evaluating options. This has led to the development of methods that make use of the structure of the map itself to evaluate options, such as the Reasoning Maps method, which employs ordinal scales and ordinal operators for such evaluation. However, despite their potential, Reasoning Maps cannot model explicitly value interactions nor perform a quantitative ranking of options, limiting their applicability and usefulness. In this article we propose extending the Reasoning Maps approach through a multilinear evaluation model structure, built with the MACBETH multicriteria method. The model explicitly captures the value interactions between concepts along the map and employs the MACBETH protocol of questioning to assess the strength of influence for each means-end link. The feasibility of the proposed approach to evaluate options and to deal with multicriteria interactions is tested in a real-world application to support the construction of a population health index
Comments on âMultiple criteria decision making (MCDM) methods in economics: an overviewâ
This paper offers comments on a previously published paper, titled âMultiple criteria decision making (MCDM) methods in economics: an overview,â by Zavadskas and Turskis (2011). The paper's authors made great efforts to summarize MCDM methods but may have failed to consider several important new concepts and trends in the MCDM field for solving actual problems. First, the traditional model assumes the criteria are independently and hierarchically structured; however, in reality, problems are often characterized by interdependent criteria and dimensions and may even exhibit feedback-like effects. Second, relatively good solutions from the existing alternatives are replaced by aspiration levels to fit today's competitive markets. Third, the emphasis in the field has shifted from ranking and selection when determining the most preferable approaches to performance improvement of existing methods. Fourth, information fusion techniques, including the fuzzy integral method, have been developed to aggregate the performances. Finally, the original fixed resources in multi-objective programming are divided such that both decision and objective spaces are changeable. In this paper, we add new concepts and provide comments that could be thought of as an attempt to complete the original paper
Preference Learning
This report documents the program and the outcomes of Dagstuhl Seminar 14101 âPreference Learningâ. Preferences have recently received considerable attention in disciplines such as machine learning, knowledge discovery, information retrieval, statistics, social choice theory, multiple criteria decision making, decision under risk and uncertainty, operations research, and others. The motivation for this seminar was to showcase recent progress in these different areas with the goal of working towards a common basis of understanding, which should help to facilitate future synergies
On the Choquet multiple criteria preference aggregation model: theoretical and practical insights from a real-world application
We consider the use of the Choquet integral for evaluating projects or actions in a real-world application starting from the case of the re-qualification of an abandoned quarry. Despite the Choquet integral being a very well-known preference model for which there is a rich and well developed theory, its application in a multiple criteria decision aiding perspective requires some specific methodological developments. This led us to work out and implement, in practice, two new procedures: A first procedure to build interval scales with the objective of assigning utility values on a common scale to the criteria performances, and a second one to construct a ratio scale for assigning numerical values to the capacities of the Choquet integral. This article discusses the strengths and weaknesses of the Choquet integral as appearing in the case study, proposing as well insights related to the interaction of the experts within a focus grou
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