Search results for " Decision making"

NAUTILUS Navigator : free search interactive multiobjective optimization without trading-off

2019

We propose a novel combination of an interactive multiobjective navigation method and a trade-off free way of asking and presenting preference information. The NAUTILUS Navigator is a method that enables the decision maker (DM) to navigate in real time from an inferior solution to the most preferred solution by gaining in all objectives simultaneously as (s)he approaches the Pareto optimal front. This means that, while the DM reaches her/his most preferred solution, (s)he avoids anchoring around the starting solution and, at the same time, sees how the ranges of the reachable objective function values shrink without trading-off. The progress of the motion towards the Pareto optimal front is…

A survey on handling computationally expensive multiobjective optimization problems using surrogates: non-nature inspired methods

2015

Computationally expensive multiobjective optimization problems arise, e.g. in many engineering applications, where several conflicting objectives are to be optimized simultaneously while satisfying constraints. In many cases, the lack of explicit mathematical formulas of the objectives and constraints may necessitate conducting computationally expensive and time-consuming experiments and/or simulations. As another challenge, these problems may have either convex or nonconvex or even disconnected Pareto frontier consisting of Pareto optimal solutions. Because of the existence of many such solutions, typically, a decision maker is required to select the most preferred one. In order to deal wi…

Multi-scenario multi-objective robust optimization under deep uncertainty: A posteriori approach

2021

This paper proposes a novel optimization approach for multi-scenario multi-objective robust decision making, as well as an alternative way for scenario discovery and identifying vulnerable scenarios even before any solution generation. To demonstrate and test the novel approach, we use the classic shallow lake problem. We compare the results obtained with the novel approach to those obtained with previously used approaches. We show that the novel approach guarantees the feasibility and robust efficiency of the produced solutions under all selected scenarios, while decreasing computation cost, addresses the scenario-dependency issues, and enables the decision-makers to explore the trade-off …

Essay: Evidence-based medicine (EBM): New paradigm or integration?

2015

Telephone Consultation

2016

The article by Martina Albrecht and her co-authors (1) addresses an important aspect of patient-oriented medical decision making in Germany: to what extent does the advice dispensed by the freely accessible telephone consultation services correspond with the evidence? In other words: Can people who turn to these services understand and trust the information they are given? Only six of 293 consultations fulfilled the criteria defined by the authors—on the face of it, an alarming outcome.

Roles Of Stakeholders In Strategic Decision-Making Of Microfinance Organizations

2009

Microfinance organizations provide financial services to low income people. These organizations have been increasing dramatically worldwide. This increment calls attention for these organizations and their boards to make strategic decisions which enable them perform well and compete with each other. Based on literature, this paper identifies six types of microfinance stakeholders who sit on boards. These are clients, employees, government, donors, creditors and owners. The paper discusses different roles of these stakeholders when they sit on boards of Microfinance Organizations. These roles are further explained to show how they contribute to the process of making strategic decisions. Lite…

ELECTRE TRI-based approach for sorting projects portfolio: Focus on the European strategy

2018

The European Framework Programme for Research and Innovation aims to facilitate the collaboration between public and private sectors in delivering innovation. To achieve this goal, Union Research and Innovation Programme provides various financial instruments, among which the Horizon 2020 is one of the most significant. Since its implementation, the Horizon 2020 has stimulated the interest of several research organizations making the partnerships among companies their core business for improving local economy. In this context, technological districts are the main proponents of research and innovation spreading in the local territory. In Sicily, the AgroBioPesca district exploited these oppo…

New exergy criterion in the multicriteria context: a life cycle assessment of two plaster products

2003

This paper deals with the exergy analysis (EXA) of plaster materials and ranks the environmental burdens due to the production of such materials. The calculation of the exergy loss during the whole examined process represents a relevant index, looking at the technology improvement of a process, as a suitable tool in aid of the trade-off of alternative materials in the decision making. A life cycle inventory is performed for building plaster products and the matrix method is used. The authors extend the application of EXA to life cycle assessment, conducting an exergetic life cycle assessment, and propose an exergetic index in the framework of multi-criteria decision making. An exergy balanc…

Interactive Multiobjective Optimization in Lot Sizing with Safety Stock and Safety Lead Time

2021

In this paper, we integrate a lot sizing problem with the problem of determining optimal values of safety stock and safety lead time. We propose a probability of product availability formula to assess the quality of safety lead time and a multiobjective optimization model as an integrated lot sizing problem. In the proposed model, we optimize six objectives simultaneously: minimizing purchasing cost, ordering cost, holding cost and, at the same time, maximizing cycle service level, probability of product availability and inventory turnover. To present the applicability of the proposed model, we consider a real case study with data from a manufacturing company and apply the interactive NAUTI…

Heterogeneity of Patients with Intermediate (BCLC B) Hepatocellular Carcinoma: Proposal for a Subclassification to Facilitate Treatment Decisions

2013

The intermediate stage of hepatocellular carcinoma (HCC) comprises a highly heterogeneous patient population and therefore poses unique challenges for therapeutic management, different from the early and advanced stages. Patients classified as having intermediate HCC by the Barcelona Clinic Liver Cancer (BCLC) staging system present with varying tumor burden and liver function. Transarterial chemoembolization (TACE) is currently recommended as the standard of care in this setting, but there is considerable variation in the clinical benefit patients derive from this treatment.In April 2012, a panel of experts convened to discuss unresolved issues surrounding the application of current guidel…