Data-driven satisficing measure and ranking

We propose an computational framework for real-time risk assessment and prioritizing for random outcomes without prior information on probability distributions. The basic model is built based on satisficing measure (SM) which yields a single index for risk comparison. Since SM is a dual representation for a family of risk measures, we consider problems constrained by general convex risk measures and specifically by Conditional value-at-risk. Starting from offline optimization, we apply sample average approximation technique and argue the convergence rate and validation of optimal solutions. In online stochastic optimization case, we develop primal-dual stochastic approximation algorithms respectively for general risk constrained problems, and derive their regret bounds. For both offline and online cases, we illustrate the relationship between risk ranking accuracy with sample size (or iterations).Comment: 26 Pages, 6 Figure

A conceptual framework for intelligent real-time information processing

By combining artificial intelligence concepts with the human information processing model of Rasmussen, a conceptual framework was developed for real time artificial intelligence systems which provides a foundation for system organization, control and validation. The approach is based on the description of system processing terms of an abstraction hierarchy of states of knowledge. The states of knowledge are organized along one dimension which corresponds to the extent to which the concepts are expressed in terms of the system inouts or in terms of the system response. Thus organized, the useful states form a generally triangular shape with the sensors and effectors forming the lower two vertices and the full evaluated set of courses of action the apex. Within the triangle boundaries are numerous processing paths which shortcut the detailed processing, by connecting incomplete levels of analysis to partially defined responses. Shortcuts at different levels of abstraction include reflexes, sensory motor control, rule based behavior, and satisficing. This approach was used in the design of a real time tactical decision aiding system, and in defining an intelligent aiding system for transport pilots

Information Overload: An Overview

For almost as long as there has been recorded information, there has been a perception that humanity has been overloaded by it. Concerns about 'too much to read' have been expressed for many centuries, and made more urgent since the arrival of ubiquitous digital information in the late twentieth century. The historical perspective is a necessary corrective to the often, and wrongly, held view that it is associated solely with the modern digital information environment, and with social media in particular. However, as society fully experiences Floridi's Fourth Revolution, and moves into hyper-history (with society dependent on, and defined by, information and communication technologies) and the infosphere (a information environment distinguished by a seamless blend of online and offline information actvity), individuals and societies are dependent on, and formed by, information in an unprecedented way, information overload needs to be taken more seriously than ever. Overload has been claimed to be both the major issue of our time, and a complete non-issue. It has been cited as an important factor in, inter alia, science, medicine, education, politics, governance, business and marketing, planning for smart cities, access to news, personal data tracking, home life, use of social media, and online shopping, and has even influenced literature The information overload phenomenon has been known by many different names, including: information overabundance, infobesity, infoglut, data smog, information pollution, information fatigue, social media fatigue, social media overload, information anxiety, library anxiety, infostress, infoxication, reading overload, communication overload, cognitive overload, information violence, and information assault. There is no single generally accepted definition, but it can best be understood as that situation which arises when there is so much relevant and potentially useful information available that it becomes a hindrance rather than a help. Its essential nature has not changed with changing technology, though its causes and proposed solutions have changed much. The best ways of avoiding overload, individually and socially, appear to lie in a variety of coping strategies, such as filtering, withdrawing, queuing, and 'satisficing'. Better design of information systems, effective personal information management, and the promotion of digital and media literacies, also have a part to play. Overload may perhaps best be overcome by seeking a mindful balance in consuming information, and in finding understanding

Corporate governance, Islamic governance and earnings management in Oman: A new empirical insights from a behavioural theoretical framework

Purpose: This paper examines the impact of corporate (CG) and Islamic (IG) governance mechanisms on corporate earnings management (EM) behaviour in Oman. Design/Methodology/Approach: We employ one of the largest and extensive datasets to-date on CG, IG and EM in any developing country, consisting of a sample of 116 unique Omani listed corporations from 2001 to 2011 (i.e.,1,152 firm-year observations) and a broad CG index containing 72 CG provisions. We also employ a number of robust econometric models that sufficiently account for alternative CG/EM proxies and potential endogeneities. Findings: First, we find that, on average, better-governed corporations tend to engage significantly less in EM than their poorly-governed counterparts. Second, our evidence suggests that corporations that depict greater commitment towards incorporating Islamic religious beliefs and values into their operations through the establishment of an IG committee tend to engage significantly less in EM than their counterparts without such a committee. Finally and by contrast, we do not find any evidence that board size, audit firm size, the presence of a CG committee and board gender diversity have any significant relationship with the extent of EM. Originality: To the best of our knowledge, this is a first empirical attempt at examining the extent to which CG and IG structures may drive EM practices that explicitly seeks to draw new insights from a behavioural theoretical framework (i.e., behavioural theory of corporate boards and governance). Keywords: Corporate governance, Islamic governance, earnings management, behavioural theory, endogeneity, Oman. Paper type: Research pape

The 2014 International Planning Competition: Progress and Trends

We review the 2014 International Planning Competition (IPC-2014), the eighth in a series of competitions starting in 1998. IPC-2014 was held in three separate parts to assess state-of-the-art in three prominent areas of planning research: the deterministic (classical) part (IPCD), the learning part (IPCL), and the probabilistic part (IPPC). Each part evaluated planning systems in ways that pushed the edge of existing planner performance by introducing new challenges, novel tasks, or both. The competition surpassed again the number of competitors than its predecessor, highlighting the competition’s central role in shaping the landscape of ongoing developments in evaluating planning systems