The Lichtenberg Financial Decision Screening Scale (LFDSS): A new tool for assessing financial decision making and preventing financial exploitation.

Science.gov (United States)

Lichtenberg, Peter A; Ficker, Lisa; Rahman-Filipiak, Analise; Tatro, Ron; Farrell, Cynthia; Speir, James J; Mall, Sanford J; Simasko, Patrick; Collens, Howard H; Jackman, John Daniel

2016-01-01

One of the challenges in preventing the financial exploitation of older adults is that neither criminal justice nor noncriminal justice professionals are equipped to detect capacity deficits. Because decision-making capacity is a cornerstone assessment in cases of financial exploitation, effective instruments for measuring this capacity are essential. We introduce a new screening scale for financial decision making that can be administered to older adults. To explore the scale's implementation and assess construct validity, we conducted a pilot study of 29 older adults seen by APS (Adult Protective Services) workers and 79 seen by other professionals. Case examples are included.

Conceptual and Empirical Approaches to Financial Decision-making by Older Adults: Results from a Financial Decision-making Rating Scale.

Science.gov (United States)

Lichtenberg, Peter A; Ocepek-Welikson, Katja; Ficker, Lisa J; Gross, Evan; Rahman-Filipiak, Analise; Teresi, Jeanne A

2018-01-01

The objectives of this study were threefold: (1) to empirically test the conceptual model proposed by the Lichtenberg Financial Decision-making Rating Scale (LFDRS); (2) to examine the psychometric properties of the LFDRS contextual factors in financial decision-making by investigating both the reliability and convergent validity of the subscales and total scale, and (3) extending previous work on the scale through the collection of normative data on financial decision-making. A convenience sample of 200 independent function and community dwelling older adults underwent cognitive and financial management testing and were interviewed using the LFDRS. Confirmatory factor analysis, internal consistency measures, and hierarchical regression were used in a sample of 200 community-dwelling older adults, all of whom were making or had recently made a significant financial decision. Results confirmed the scale's reliability and supported the conceptual model. Convergent validity analyses indicate that as hypothesized, cognition is a significant predictor of risk scores. Financial management scores, however, were not predictive of decision-making risk scores. The psychometric properties of the LFDRS support the scale's use as it was proposed. The LFDRS instructions and scale are provided for clinicians to use in financial capacity assessments.

Consumer's Negative emotions, Financial Decisions, Financial Advice

OpenAIRE

Konstantaki, Violetta

2007-01-01

Abstract The purpose of this study is to explore the consumers decision making process. In particular, this study attempts to examine consumers negative emotions, which elicit during a decision processing. Especially, the case of a financial decision will be examined. Moreover, consumers negative emotion will be investigated in relation with consumers coping behaviour. To be more specific, the option of seeking advice as a successful consumers coping behaviour will be explor...

The Psychology and Neuroscience of Financial Decision Making.

Science.gov (United States)

Frydman, Cary; Camerer, Colin F

2016-09-01

Financial decisions are among the most important life-shaping decisions that people make. We review facts about financial decisions and what cognitive and neural processes influence them. Because of cognitive constraints and a low average level of financial literacy, many household decisions violate sound financial principles. Households typically have underdiversified stock holdings and low retirement savings rates. Investors overextrapolate from past returns and trade too often. Even top corporate managers, who are typically highly educated, make decisions that are affected by overconfidence and personal history. Many of these behaviors can be explained by well-known principles from cognitive science. A boom in high-quality accumulated evidence-especially how practical, low-cost 'nudges' can improve financial decisions-is already giving clear guidance for balanced government regulation. Copyright © 2016 The Authors. Published by Elsevier Ltd.. All rights reserved.

Combined Intelligent Control (CIC an Intelligent Decision Making Algorithm

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Moteaal Asadi Shirzi

2007-03-01

Full Text Available The focus of this research is to introduce the concept of combined intelligent control (CIC as an effective architecture for decision-making and control of intelligent agents and multi-robot sets. Basically, the CIC is a combination of various architectures and methods from fields such as artificial intelligence, Distributed Artificial Intelligence (DAI, control and biological computing. Although any intelligent architecture may be very effective for some specific applications, it could be less for others. Therefore, CIC combines and arranges them in a way that the strengths of any approach cover the weaknesses of others. In this paper first, we introduce some intelligent architectures from a new aspect. Afterward, we offer the CIC by combining them. CIC has been executed in a multi-agent set. In this set, robots must cooperate to perform some various tasks in a complex and nondeterministic environment with a low sensory feedback and relationship. In order to investigate, improve, and correct the combined intelligent control method, simulation software has been designed which will be presented and considered. To show the ability of the CIC algorithm as a distributed architecture, a central algorithm is designed and compared with the CIC.

7th KES International Conference on Intelligent Decision Technologies

CERN Document Server

Jain, Lakhmi; Howlett, Robert

2015-01-01

This book presents the 57 papers accepted for presentation at the Seventh KES International Conference on Intelligent Decision Technologies (KES-IDT 2015), held in Sorrento, Italy, in June 2015. The conference consists of keynote talks, oral and poster presentations, invited sessions and workshops on the applications and theory of intelligent decision systems and related areas. The conference provides an opportunity for the presentation and discussion of interesting new research results, promoting knowledge transfer and the generation of new ideas. The book will be of interest to all those whose work involves the development and application of intelligent decision systems.

Compromise between Short- and Long-Term Financial Sustainability: A Hybrid Model for Supporting R&D Decisions

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Kao-Yi Shen

2017-03-01

Full Text Available The debate of “short-termism” has gained increasing interests from various fields, ranging from management to economics; it mainly concerns the decisions or actions taken by businesses that might yield short-term returns at the cost of long-term value or sustainability. Previous studies have highlighted this dilemma faced by managers, mainly from the pressure of capital markets or short-sighted shareholders who crave for immediate financial outcomes; intelligent decision aids that can compromise between the short- and long-term financial sustainability, based on a company’s policy, are highly needed. Therefore, the aim of this study is to develop a multiple-rule-based hybrid decision model to support management teams on prioritizing new R&D projects, considering the financial prospects in dual timeframes (i.e., short- and long-term for sustainability. Furthermore, in the presence of business uncertainty and the limited knowledge of managers on new projects, the intuitionistic fuzzy technique is incorporated. A case of selecting new R&D projects for an IC design company is illustrated using the proposed approach, and the financial data from a group of public-listed IC stocks from Taiwan are inducted to form the decision model. The findings not only support the IC design company to select new projects but also provide business insights to facilitate the understandings of this controversial issue in managerial practice.

Climate Information Needs for Financial Decision Making

Energy Technology Data Exchange (ETDEWEB)

Higgins, Paul [American Meteorological Society, Washington, DC (United States)

2013-11-19

Climate Information Needs for Financial Decision Making (Final Report) This Department of Energy workshop award (grant #DE-SC0008480) provided primary support for the American Meteorological Society’s study on climate information needs for financial decision making. The goal of this study was to help advance societal decision making by examining the implications of climate variability and change on near-term financial investments. We explored four key topics: 1) the conditions and criteria that influence returns on investment of major financial decisions, 2) the climate sensitivity of financial decisions, 3) climate information needs of financial decision makers, and 4) potential new mechanisms to promote collaboration between scientists and financial decision makers. Better understanding of these four topics will help scientists provide the most useful information and enable financial decision makers to use scientific information most effectively. As a result, this study will enable leaders in business and government to make well-informed choices that help maximize long-term economic success and social wellbeing in the United States The outcomes of the study include a workshop, which brought together leaders from the scientific and financial decision making communities, a publication of the study report, and a public briefing of the results to the policy community. In addition, we will present the results to the scientific community at the AMS Annual Meeting in February, 2014. The study results were covered well by the media including Bloomberg News and E&E News. Upon request, we also briefed the Office of Science Technology Policy (OSTP) and the Council on Environmental Quality (CEQ) on the outcomes. We presented the results to the policy community through a public briefing in December on Capitol Hill. The full report is publicly available at www.ametsoc.org/cin. Summary of Key Findings The United States invests roughly $1.5 trillion U.S. dollars (USD) in

The highly intelligent virtual agents for modeling financial markets

Science.gov (United States)

Yang, G.; Chen, Y.; Huang, J. P.

2016-02-01

Researchers have borrowed many theories from statistical physics, like ensemble, Ising model, etc., to study complex adaptive systems through agent-based modeling. However, one fundamental difference between entities (such as spins) in physics and micro-units in complex adaptive systems is that the latter are usually with high intelligence, such as investors in financial markets. Although highly intelligent virtual agents are essential for agent-based modeling to play a full role in the study of complex adaptive systems, how to create such agents is still an open question. Hence, we propose three principles for designing high artificial intelligence in financial markets and then build a specific class of agents called iAgents based on these three principles. Finally, we evaluate the intelligence of iAgents through virtual index trading in two different stock markets. For comparison, we also include three other types of agents in this contest, namely, random traders, agents from the wealth game (modified on the famous minority game), and agents from an upgraded wealth game. As a result, iAgents perform the best, which gives a well support for the three principles. This work offers a general framework for the further development of agent-based modeling for various kinds of complex adaptive systems.

Intelligent decision-making models for production and retail operations

CERN Document Server

Guo, Zhaoxia

2016-01-01

This book provides an overview of intelligent decision-making techniques and discusses their application in production and retail operations. Manufacturing and retail enterprises have stringent standards for using advanced and reliable techniques to improve decision-making processes, since these processes have significant effects on the performance of relevant operations and the entire supply chain. In recent years, researchers have been increasingly focusing attention on using intelligent techniques to solve various decision-making problems. The opening chapters provide an introduction to several commonly used intelligent techniques, such as genetic algorithm, harmony search, neural network and extreme learning machine. The book then explores the use of these techniques for handling various production and retail decision-making problems, such as production planning and scheduling, assembly line balancing, and sales forecasting.

Business intelligence making decisions through data analytics

CERN Document Server

Surma, Jerzy

2014-01-01

This book is about using business intelligence as a management information system for supporting managerial decision making. It concentrates primarily on practical business issues and demonstrates how to apply data warehousing and data analytics to support business decision making. This book progresses through a logical sequence, starting with data model infrastructure, then data preparation, followed by data analysis, integration, knowledge discovery, and finally the actual use of discovered knowledge. All examples are based on the most recent achievements in business intelligence. Finally this book outlines an overview of a methodology that takes into account the complexity of developing applications in an integrated business intelligence environment. This book is written for managers, business consultants, and undergraduate and postgraduates students in business administration.

Information, trust and the limits of “intelligent accountability” in investment decision making: insights from the Madoff case

OpenAIRE

Stolowy, Hervé; Baker, Richard; Jeanjean, Thomas; Messner, Martin

2011-01-01

In this paper, we use the investment fraud of Bernard Madoff to inquire into the possibilities and limits of an “intelligent accountability” in the context of financial decision making. Drawing primarily upon data related to U.S. Individual investors (interviews and letters), we investigate the role of information and trust in investment decisions. We find that trust played an important role in the Madoff case. We also find that, in face-to-face encounters with the investors, Madoff successfu...

Decision-Making Amplification under Uncertainty: An Exploratory Study of Behavioral Similarity and Intelligent Decision Support Systems

Science.gov (United States)

Campbell, Merle Wayne

2013-01-01

Intelligent decision systems have the potential to support and greatly amplify human decision-making across a number of industries and domains. However, despite the rapid improvement in the underlying capabilities of these "intelligent" systems, increasing their acceptance as decision aids in industry has remained a formidable challenge.…

SOME PARADIGMS OF ARTIFICIAL INTELLIGENCE IN FINANCIAL COMPUTER SYSTEMS

OpenAIRE

Jerzy Balicki

2015-01-01

The article discusses some paradigms of artificial intelligence in the context of their applications in computer financial systems. The proposed approach has a significant po-tential to increase the competitiveness of enterprises, including financial institutions. However, it requires the effective use of supercomputers, grids and cloud computing. A reference is made to the computing environment for Bitcoin. In addition, we characterized genetic programming and artificial neural networks to p...

Complementary cognitive capabilities, economic decision making, and aging.

Science.gov (United States)

Li, Ye; Baldassi, Martine; Johnson, Eric J; Weber, Elke U

2013-09-01

Fluid intelligence decreases with age, yet evidence about age declines in decision-making quality is mixed: Depending on the study, older adults make worse, equally good, or even better decisions than younger adults. We propose a potential explanation for this puzzle, namely that age differences in decision performance result from the interplay between two sets of cognitive capabilities that impact decision making, one in which older adults fare worse (i.e., fluid intelligence) and one in which they fare better (i.e., crystallized intelligence). Specifically, we hypothesized that older adults' higher levels of crystallized intelligence can provide an alternate pathway to good decisions when the fluid intelligence pathway declines. The performance of older adults relative to younger adults therefore depends on the relative importance of each type of intelligence for the decision at hand. We tested this complementary capabilities hypothesis in a broad sample of younger and older adults, collecting a battery of standard cognitive measures and measures of economically important decision-making "traits"--including temporal discounting, loss aversion, financial literacy, and debt literacy. We found that older participants performed as well as or better than younger participants on these four decision-making measures. Structural equation modeling verified our hypothesis: Older participants' greater crystallized intelligence offset their lower levels of fluid intelligence for temporal discounting, financial literacy, and debt literacy, but not for loss aversion. These results have important implications for public policy and for the design of effective decision environments for older adults.

Leveraging business intelligence to make better decisions: Part I.

Science.gov (United States)

Reimers, Mona

2014-01-01

Data is the new currency. Business intelligence tools will provide better performing practices with a competitive intelligence advantage that will separate the high performers from the rest of the pack. Given the investments of time and money into our data systems, practice leaders must work to take every advantage and look at the datasets as a potential goldmine of business intelligence decision tools. A fresh look at decision tools created from practice data will create efficiencies and improve effectiveness for end-users and managers.

CHINESE SMEs' USES OF FINANCIAL STATEMENTS IN DECISION MAKING

OpenAIRE

HOWARD VAN AUKEN; KUI YANG

2014-01-01

With a sample of 46 Chinese small to medium-sized enterprises (SMEs), this study examines factors that might affect firms' use of financial statements to make decisions. Financial statements contain insightful information about potential risk and return implications of various decisions. A logit analysis shows that owners of Chinese SMEs use financial statements to make decisions according to the frequency of available financial statement information and their ability to interpret the informa...

Financial Decision Making and Cognition in a Family Context

Science.gov (United States)

Smith, James P.; McArdle, John J.; Willis, Robert

2010-01-01

In this paper, we studied the association of cognitive traits and in particular numeracy of both spouses on financial outcomes of the family. We found significant effects, particularly for numeracy for financial and non-financial respondents alike, but much larger effects for the financial decision maker in the family. We also examined who makes these financial decisions in the family and why. Once again, cognitive traits such as numeracy were an important component of that decision with larger effects of numeracy for husbands compared to wives. PMID:21116477

SOME PARADIGMS OF ARTIFICIAL INTELLIGENCE IN FINANCIAL COMPUTER SYSTEMS

Directory of Open Access Journals (Sweden)

Jerzy Balicki

2015-12-01

Full Text Available The article discusses some paradigms of artificial intelligence in the context of their applications in computer financial systems. The proposed approach has a significant po-tential to increase the competitiveness of enterprises, including financial institutions. However, it requires the effective use of supercomputers, grids and cloud computing. A reference is made to the computing environment for Bitcoin. In addition, we characterized genetic programming and artificial neural networks to prepare investment strategies on the stock exchange market.

Complementary Cognitive Capabilities, Economic Decision-Making, and Aging

Science.gov (United States)

Li, Ye; Baldassi, Martine; Johnson, Eric J.; Weber, Elke U.

2014-01-01

Fluid intelligence decreases with age, yet evidence about age declines in decision-making quality is mixed: Depending on the study, older adults make worse, equally good, or even better decisions than younger adults. We propose a potential explanation for this puzzle, namely that age differences in decision performance result from the interplay between two sets of cognitive capabilities that impact decision making, one in which older adults fare worse (i.e., fluid intelligence) and one in which they fare better (i.e., crystallized intelligence). Specifically, we hypothesized that older adults’ higher levels of crystallized intelligence can provide an alternate pathway to good decisions when the fluid intelligence pathway declines. The performance of older adults relative to younger adults therefore depends on the relative importance of each type of intelligence for the decision at hand. We tested this complementary capabilities hypothesis in a broad sample of younger and older adults, collecting a battery of standard cognitive measures and measures of economically important decision-making “traits”—including temporal discounting, loss aversion, financial literacy, and debt literacy. We found that older participants performed as well as or better than younger participants on these four decision-making measures. Structural equation modeling verified our hypothesis: Older participants’ greater crystallized intelligence offset their lower levels of fluid intelligence for temporal discounting, financial literacy, and debt literacy, but not for loss aversion. These results have important implications for public policy and for the design of effective decision environments for older adults. PMID:24040999

Financial statements in the function of management decision

Directory of Open Access Journals (Sweden)

Mrvaljević Mirjana

2014-01-01

Full Text Available In this paper discuss on the role and importance of information which are provided by financial statements in business decision-making is considered. Basically, financial reports represent information basis for making economic / financial decisions for a wide range of users because they represent the key source of information about the financial position of a company at the end of a period, about the achieved results of the company for the period, about the cash flow within the company etc. In accordance with the process of globalisation, international frameworks have regulated the accounting standards which have been created and introduced in order to achieve transparency and uniformity of financial reports of any company, regardless its scope of work and the country where it does its business. The management of a company is aimed at the perception of future events and the flow of values within a company as a result of present decisions, while the accounting is ex post oriented. Nevertheless, the connections between accounting and management of a company are important and multiple because it is the effects of management decisions that are evaluated through financial statements, which are the product of company accounting in which all the business decisions are processed.

Advanced intelligent computational technologies and decision support systems

CERN Document Server

Kountchev, Roumen

2014-01-01

This book offers a state of the art collection covering themes related to Advanced Intelligent Computational Technologies and Decision Support Systems which can be applied to fields like healthcare assisting the humans in solving problems. The book brings forward a wealth of ideas, algorithms and case studies in themes like: intelligent predictive diagnosis; intelligent analyzing of medical images; new format for coding of single and sequences of medical images; Medical Decision Support Systems; diagnosis of Down’s syndrome; computational perspectives for electronic fetal monitoring; efficient compression of CT Images; adaptive interpolation and halftoning for medical images; applications of artificial neural networks for real-life problems solving; present and perspectives for Electronic Healthcare Record Systems; adaptive approaches for noise reduction in sequences of CT images etc.

Multiple intelligence: ethical leadership feature consistent financial institutions.

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Diamela Nava

2015-03-01

Full Text Available This study aims to make a theoretical underpinning contrast analysis on the multiple intelligences: consistent feature of Ethical Leadership in Financial Institutions. However, this research was conducted under a qualitative approach, a descriptive, using document analysis, which eventually might be considered that would support multiple intelligences to implement certain capabilities, to achieve the objectives with the purpose and from the rational point of view, to know how to establish significant changes in some ways it is, the way to assess the cognitive abilities of integrating human talent in organizations. Therefore, the role of the leader is to guide and support the development of human potential in their group as a community of interest in order to achieve the aspirations of the organization using intelligence as a strategic tool in different ways to not limit your imagination, judgment, and cooperative action.  

An investigation on the effects of financial management skills, wealth and financial intelligence on investors’ risk tolerance: Empirical evidence from Tehran Stock Exchange

Directory of Open Access Journals (Sweden)

Saied Aghasi

2014-05-01

Full Text Available During the past few years, Tehran Stock Exchange (TSE has been changed into one of the most popular places to invest and index has been quadrupled in fewer than three years. As a result, many people have been attracted to invest on TSE market. This paper presents an empirical investigation to study the effects of investors’ personal characteristics including financial management skills, wealth and financial intelligence on investors’ risk tolerance among 384 randomly chosen investors who were active on TSE market in city of Esfahan, Iran. Using structural equation modeling, the study has determined that financial management skills, wealth and financial intelligence influence positively on investors’ risk tolerance.

FINANCIAL INFORMATION, EFFECTS OF FINANCIAL INFORMATION ON ECONOMIC DECISION

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TAK ISA

2010-12-01

Full Text Available Financial information has, indisputably, an important effect in economics. To form an effective capital market, financial information must be reliable and accurate. Misleading financial information always has a negative impact on economic decision taken by users. It is known that financial information as the cornerstone of financial markets, can improve economic performance in several ways. Nowadays we are facing economic crisis due to irregularities of presentation of financial statements to users. Misunderstandings cause economic recession. Detection of fraudulent financial information, is an important issue facing the auditing profession. Currently, bankruptcy of companies around the world, leaves millions of people without jobs, this is caused by financial information which is manipulated by companies. The purpose of this paper is to analyze the effects of errors and manipulation committed in the financial information sector on the real economy. Also one of the purposes of this paper is to analyze error and fraud in financial statements how it effects the real economy and the reasons for committing fraud in financial statements. Also, several suggestions are included in this study about actions that can be taken to prevent errors and manipulation in financial information.

Financial Intelligence and the Quality of Higher Education in Africa ...

African Journals Online (AJOL)

Financial Intelligence and the Quality of Higher Education in Africa. ... Improving the quality of curriculum development in private Universities in Africa from time to time is a task that is very essential to achieving ... AJOL African Journals Online.

Financial literacy and intra-household decision making: Evidence from Rwanda

OpenAIRE

Grohmann, Antonia; Schoofs, Annekathrin

2018-01-01

Despite considerable policy efforts, women continue to be underrepresented in positions of power and decision making. As an important aspect of women empowerment, we examine women's participation in intrahousehold financial decision making and how this is affected by financial literacy. Using both OLS and IV regression analysis, we show that women with higher financial literacy are more involved in household financial decisions. In line with the literature, we further find that women are less...

Financial Intelligence and the Quality of Higher Education in Africa

African Journals Online (AJOL)

First Lady

Financial Intelligence is one of the five components of a twenty first century education, the ..... business by taking full responsibility for and becoming the Chief. Executive Officers (CEO) of their own lives, key into personal/self development or ...

Comparative Analysis of Investment Decision Models

Directory of Open Access Journals (Sweden)

Ieva Kekytė

2017-06-01

Full Text Available Rapid development of financial markets resulted new challenges for both investors and investment issues. This increased demand for innovative, modern investment and portfolio management decisions adequate for market conditions. Financial market receives special attention, creating new models, includes financial risk management and investment decision support systems.Researchers recognize the need to deal with financial problems using models consistent with the reality and based on sophisticated quantitative analysis technique. Thus, role mathematical modeling in finance becomes important. This article deals with various investments decision-making models, which include forecasting, optimization, stochatic processes, artificial intelligence, etc., and become useful tools for investment decisions.

Computational Intelligence and Decision Making Trends and Applications

CERN Document Server

Madureira, Ana; Marques, Viriato

2013-01-01

This book provides a general overview and original analysis of new developments and applications in several areas of Computational Intelligence and Information Systems. Computational Intelligence has become an important tool for engineers to develop and analyze novel techniques to solve problems in basic sciences such as physics, chemistry, biology, engineering, environment and social sciences.   The material contained in this book addresses the foundations and applications of Artificial Intelligence and Decision Support Systems, Complex and Biological Inspired Systems, Simulation and Evolution of Real and Artificial Life Forms, Intelligent Models and Control Systems, Knowledge and Learning Technologies, Web Semantics and Ontologies, Intelligent Tutoring Systems, Intelligent Power Systems, Self-Organized and Distributed Systems, Intelligent Manufacturing Systems and Affective Computing. The contributions have all been written by international experts, who provide current views on the topics discussed and pr...

Financial Decisions, Tax Effect and Investment Performance

Directory of Open Access Journals (Sweden)

Yasemin COSKUN

2018-04-01

Full Text Available The aim of the study is to measure influence of taxation while making financial decisions and predict it with the general application in Turkey. Except for equity returns of financial and negative capital institutions registered in Borsa Istanbul between 2000 and 2012, those of all other businesses were calculated. In order to measure cost of capital, Capital Assets Pricing Model(CAPM was employed. Businesses were divided into for regions as stated in Tax Incentive Law according to the study. As stated in Tax Incentive Law, the businesses whose costs of capital were divided into six regions where statistical analysis was made to determine whether taxation influenced financial decisions of the related businesses based on Tax Incentive Law or not. Assessment of the findings within the study determined that businesses in 1 st, 2 nd and 3 rd regions were affected by taxation 5,69, 2,75 and 1,39 as means between 2007 and 2012, respectively. Accordingly taxation load of businesses in 1 st region provinces was found to be heavier than those of businesses in other regions. Considering the Tax Incentive Law, it was found to be statistically important that taxation load of the related region should be taken into account in making any financial decisions. In this respect, there is an impact of tax when one makes financial decisions. However, other relevant factors should also be considered.

EFFECTS OF AGE, SEX, AND NEUROPSYCHOLOGICAL PERFORMANCE ON FINANCIAL DECISION-MAKING

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Sara K Shivapour

2012-06-01

Full Text Available The capacity to make sound financial decisions across the lifespan is critical for interpersonal, occupational, and psychological health and success. In the present study, we examined how healthy younger and older adults make a series of increasingly complex financial decisions. One-hundred and sixteen healthy older adults, aged 56 to 90 years, and 102 college undergraduates, completed the Financial Decision Making Questionnaire, which requires selecting and justifying financial choices across four hypothetical scenarios and answering questions pertaining to financial knowledge. Results indicated that Older participants significantly outperformed Younger participants on a multiple-choice test of acquired financial knowledge. After controlling for such pre-existing knowledge, several additional age effects were observed. For example, Older participants were more likely to make immediate investment decisions, whereas Younger participants exhibited a preference for delaying decision-making pending additional information. Older participants also rated themselves as more concerned with avoiding monetary loss (i.e., a prevention orientation, whereas Younger participants reported greater interest in financial gain (i.e., a promotion orientation. In terms of sex differences, Older Males were more likely to pay credit card bills and utilize savings accounts than were Older Females. Multiple positive correlations were observed between Older participants’ financial decision-making and performance on neuropsychological measures of non-verbal intellect and executive functioning. Lastly, the ability to justify one’s financial decisions declined with age, among the Older participants. Several of the aforementioned results parallel findings from the medical decision-making literature, suggesting that older adults make decisions in a manner that conserves diminishing cognitive resources.

Effective Approach to Elevate the Intelligence of Management Decision System

Institute of Scientific and Technical Information of China (English)

杨保安; 朱明; 唐志杰; 陈思

2003-01-01

Based on the sticking point of the low intelligence of the existing management decision system,this paper puts forward the idea of enriching and refining the knowledge of the system and endowing it with the ability to learn by means of adopting three types of heterogeneous knowledge representation and knowledge management measures.At length,this paper outlines the basic framework of an intelligence system for the sake of management decision problem.

Socio-Demographic Indicators, Intelligence, and Locus of Control as Predictors of Adult Financial Well-Being

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Adrian Furnham

2017-04-01

Full Text Available The current study investigated a longitudinal data set of 4790 adults examining a set of socio-demographic and psychological factors that influence adult financial well-being. Parental social status (at birth, childhood intelligence and self-esteem (at age 10, locus of control (at age 16, psychological distress (age 30, educational qualifications (age 34, current occupation, weekly net income, house ownership status, and number of rooms (all measured at age 38 years were examined. Structural Equation Modelling showed that childhood intelligence, locus of control, education and occupation were all independent predictors of adult financial well-being for both men and women. Parental social status and psychological distress were also significant predictors of the outcome variable for men, but not for women. Whereas for women, in comparison to men, the effects of current occupation and childhood intelligence on the outcome variable appeared to be stronger. The strongest predictor of adult financial well-being was current occupational prestige, followed by educational achievement. The gender deferential of financial well-being indicators and its implications are discussed.

Financial Performance of Entry Mode Decisions

DEFF Research Database (Denmark)

Boyd, Britta; Dyhr Ulrich, Anna Marie; Hollensen, Svend

2012-01-01

Based on a survey of 170 Danish SMEs the paper examines influences on entry mode choices and the financial outcome of these decisions. The main research objectives are divided into two steps: Step 1: To determine the factors influencing the choice of foreign entry modes by Danish companies. Step ...... and implications are provided for companies willing to invest more into foreign markets in order to achieve a higher degree of control and better financial results.......Based on a survey of 170 Danish SMEs the paper examines influences on entry mode choices and the financial outcome of these decisions. The main research objectives are divided into two steps: Step 1: To determine the factors influencing the choice of foreign entry modes by Danish companies. Step 2......: To determine the relationship between the choice of entry mode and export performance, measured in terms of financial outcome. Drawing from transaction cost theory the authors develop and test a model where different factors affect the level of control chosen by the parent company. This study contributes...

Intelligent Decision Support in Proportional–Stop-Loss Reinsurance Using Multiple Attribute Decision-Making (MADM

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Shirley Jie Xuan Wang

2017-11-01

Full Text Available This article addresses the possibility of incorporating intelligent decision support systems into reinsurance decision-making. This involves the insurance company and the reinsurance company, and is negotiated through reinsurance intermediaries. The article proposes a decision flow to model the reinsurance design and selection process. This article focuses on adopting more than one optimality criteria under a more generic combinational design of commonly used reinsurance products, i.e., proportional reinsurance and stop-loss reinsurance. In terms of methodology, the significant contribution of the study the incorporation of the well-established decision analysis tool multiple-attribute decision-making (MADM into the modelling of reinsurance selection. To illustrate the feasibility of incorporating intelligent decision supporting systems in the reinsurance market, the study includes a numerical case study using the simulation software @Risk in modeling insurance claims, as well as programming in MATLAB to realize MADM. A list of managerial implications could be drawn from the case study results. Most importantly, when choosing the most appropriate type of reinsurance, insurance companies should base their decisions on multiple measurements instead of single-criteria decision-making models so that their decisions may be more robust.

Decision support, analytics, and business intelligence

CERN Document Server

Power, Daniel J

2013-01-01

Competition is becoming more intense and decision makers are encountering increasing complexity, rapid change, and higher levels of risk. In many situations, the solution is more and better computerized decision support, especially analytics and business intelligence. Today managers need to learn about and understand computerized decision support. If a business is to succeed, managers must know much more about information technology solutions. This second edition of a powerful introductory book is targeted at busy managers and MBA students who need to grasp the basics of computerized decision support, including the following: What are analytics? What is a decision support system? How can managers identify opportunities to create innovative computerized support? Inside, the author addresses these questions and some 60 more fundamental questions that are key to understanding the rapidly changing realm of computerized decision support. In a short period of time, you'll "get up to speed" on decision support, anal...

Handling risk attitudes for preference learning and intelligent decision support

DEFF Research Database (Denmark)

Franco de los Ríos, Camilo; Hougaard, Jens Leth; Nielsen, Kurt

2015-01-01

Intelligent decision support should allow integrating human knowledge with efficient algorithms for making interpretable and useful recommendations on real world decision problems. Attitudes and preferences articulate and come together under a decision process that should be explicitly modeled...

Markov decision processes in artificial intelligence

CERN Document Server

Sigaud, Olivier

2013-01-01

Markov Decision Processes (MDPs) are a mathematical framework for modeling sequential decision problems under uncertainty as well as Reinforcement Learning problems. Written by experts in the field, this book provides a global view of current research using MDPs in Artificial Intelligence. It starts with an introductory presentation of the fundamental aspects of MDPs (planning in MDPs, Reinforcement Learning, Partially Observable MDPs, Markov games and the use of non-classical criteria). Then it presents more advanced research trends in the domain and gives some concrete examples using illustr

FINANCIAL GOVERNMENTALITY IMPLICATIONS OF FINANCIAL DECISIONS OF TOBACCO COOPERATIVE IN ARGENTINA

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Agüero, Juan Omar

2013-01-01

Full Text Available This paper presents a summary of the arguments supporting the thesis on the influence of financial governmentality in financial decisions in tobacco cooperatives in Argentina. This thesis was defended by the author at the University of Buenos Aires and is supported by a cooperative study of Jujuy, Salta and Misiones in the period 1969-2009.

Transformational Leadership Style as Predictor of Decision Making Styles: Moderating Role of Emotional Intelligence

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Rana Rashid Rehman

2012-12-01

Full Text Available The current study examines the relationship among transformational leadership style and decision making styles. It also determines the moderating role of emotional intelligence in predicting this relationship. Three hypotheses are generated for the study i.e., twohypotheses are to measure the relationship among transformational leadership style and decision making styles whereas third hypothesis is to assess the moderating effect of emotional intelligence. Questionnaire method is used to collect data from 113respondents. Regression analysis is utilized to study the relationship among transformational leadership style and decision making styles and step-wise regression analysis is used to study moderating effect of emotional intelligence. The study foundthat transformational leadership style strongly predicts rational and dependant decision making styles and weakly predict intuitive and spontaneous decision making styles while no association founds with avoidant decision making styles. Present research also foundthat emotional intelligence moderates the relationship among transformational leadership style and decision making styles.

Using tipping points of emotional intelligence and cognitive competencies to predict financial performance of leaders.

Science.gov (United States)

Boyatzis, Richard E

2006-01-01

Competencies have been shown to differentiate outstanding managers and leaders from their less effective counterparts. Some of the competencies related to effectiveness reflect cognitive intelligence, but many of them are behavioral manifestations of emotional intelligence. Meanwhile, the performance measures used have often been an approximation of effectiveness. A study of leaders in a multi-national, consulting company shows that the frequency with which they demonstrate a variety of competencies, as seen by others, predicts financial performance in the seven quarters following the competency assessment. This, like other studies only clarify which competencies are necessary for outstanding performance. Borrowing from complexity theory, a tipping point analysis allows examination of how much of the competency is sufficient for outstanding performance. Using the tipping point analysis shows an even greater impact of competencies on the financial performance measures of the leaders in the study. The emotional intelligence competencies constituted most (i.e., 13/14) of the validated competencies predicting financial performance.

Emotional Intelligence, Personality Traits and Career Decision Difficulties

Science.gov (United States)

Di Fabio, Annamaria; Palazzeschi, Letizia

2009-01-01

This study aims to take an in-depth look at the role of emotional intelligence and personality traits in relation to career decision difficulties. The Italian version of the Career Decision Difficulties Questionnaire (CDDQ), the Bar-On Emotional Quotient Inventory: Short (Bar-On EQ-i: S), and the Big Five Questionnaire (BFQ) were administered to…

Intelligent decision support system for operators of the supply ...

African Journals Online (AJOL)

Intelligent decision support system for operators of the supply department of oil and gas extracting industry. ... PROMOTING ACCESS TO AFRICAN RESEARCH ... abnormal situations, pre-crash sensing, industrial drilling, decision-making support systems. Full Text: EMAIL FREE FULL TEXT EMAIL FREE FULL TEXT

Decision-Making and the Interface between Human Intelligence and Artificial Intelligence. AIR 1987 Annual Forum Paper.

Science.gov (United States)

Henard, Ralph E.

Possible future developments in artificial intelligence (AI) as well as its limitations are considered that have implications for institutional research in higher education, and especially decision making and decision support systems. It is noted that computer software programs have been developed that store knowledge and mimic the decision-making…

Integrated Multimedia Based Intelligent Group Decision Support System for Electrical Power Network

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Ajay Kumar Saxena

2002-05-01

Full Text Available Electrical Power Network in recent time requires an intelligent, virtual environment based decision process for the coordination of all its individual elements and the interrelated tasks. Its ultimate goal is to achieve maximum productivity and efficiency through the efficient and effective application of generation, transmission, distribution, pricing and regulatory systems. However, the complexity of electrical power network and the presence of conflicting multiple goals and objectives postulated by various groups emphasized the need of an intelligent group decision support system approach in this field. In this paper, an Integrated Multimedia based Intelligent Group Decision Support System (IM1GDSS is presented, and its main components are analyzed and discussed. In particular attention is focused on the Data Base, Model Base, Central Black Board (CBB and Multicriteria Futuristic Decision Process (MFDP module. The model base interacts with Electrical Power Network Load Forecasting and Planning (EPNLFP Module; Resource Optimization, Modeling and Simulation (ROMAS Module; Electrical Power Network Control and Evaluation Process (EPNCAEP Module, and MFDP Module through CBB for strategic planning, management control, operational planning and transaction processing. The richness of multimedia channels adds a totally new dimension in a group decision making for Electrical Power Network. The proposed IMIGDSS is a user friendly, highly interactive group decision making system, based on efficient intelligent and multimedia communication support for group discussions, retrieval of content and multi criteria decision analysis.

Applications of Bayesian decision theory to intelligent tutoring systems

NARCIS (Netherlands)

Vos, Hendrik J.

1994-01-01

Some applications of Bayesian decision theory to intelligent tutoring systems are considered. How the problem of adapting the appropriate amount of instruction to the changing nature of a student's capabilities during the learning process can be situated in the general framework of Bayesian decision

Review of Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers by Karen Berman and Joe Knight, with John Case

OpenAIRE

H.L. Vacher

2014-01-01

Berman, Karen and Knight, Joe, with John Case. Financial Intelligence for Entrepreneurs: What You Really Need to Know about the Numbers, (Boston MA: Harvard Business Press, 2008). 285 pp. ISBN 978-1-4221-1915-0. From “The art of finance (and why it matters)” (Part One) through “Creating a financially intelligent company” (Part Eight), Financial Intelligence for Entrepreneurs is an engaging explanation and appreciation of financial statements and financial ratios. Short, easily digested cha...

Decision Background and Financial Institutions: for What Contemporary Theoretical Reorientation?

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Walter Gerard Amedzro St-Hilaire

2013-10-01

Full Text Available How financial institutions do they manage their interface with their decision-making context? What is the performance "social" beyond the simple economic and financial performance? How can we measure this performance "social"? This article focuses on the theoretical corpus contemporary necessary to understand the couple context decision / financial institutions. This is basically to contribute to the establishment of a comprehensive approach which captures applied with consistency, the conceptual opposition series (role and impact of the decision context / financial institutions structures. Gradually, driven by the reality of change, the paper come to a Copernican revolution in the theory of relations between financial institutions and decision context. Standards for new perspectives on the role of the financial institutions, it is not the decision-making environment that revolves around the sun institutions. Note that this reversal was anticipated in 1965 by Emery and Trist in a prophetic article, but it is only recently that we began to theorize in this direction. The article finally understood that economic performance is insufficient to ensure the sustainability of the organisations, at least for him to avoid problems. We understand that in a multiple rationalities world, the issue of "social performance of the financial institutions" is wide open to uncertainty. Everything depends on the status that is given to the organization: simple machine to produce cash register for shareholders, human community service of another larger community?

Computational intelligence for decision support in cyber-physical systems

CERN Document Server

Ali, A; Riaz, Zahid

2014-01-01

This book is dedicated to applied computational intelligence and soft computing techniques with special reference to decision support in Cyber Physical Systems (CPS), where the physical as well as the communication segment of the networked entities interact with each other. The joint dynamics of such systems result in a complex combination of computers, software, networks and physical processes all combined to establish a process flow at system level. This volume provides the audience with an in-depth vision about how to ensure dependability, safety, security and efficiency in real time by making use of computational intelligence in various CPS applications ranging from the nano-world to large scale wide area systems of systems. Key application areas include healthcare, transportation, energy, process control and robotics where intelligent decision support has key significance in establishing dynamic, ever-changing and high confidence future technologies. A recommended text for graduate students and researche...

Correlates of healthcare and financial decision making among older adults without dementia.

Science.gov (United States)

Stewart, Christopher C; Yu, Lei; Wilson, Robert S; Bennett, David A; Boyle, Patricia A

2018-03-22

Healthcare and financial decision making among older persons has been previously associated with cognition, health and financial literacy, and risk aversion; however, the manner by which these resources support decision making remains unclear, as past studies have not systematically investigated the pathways linking these resources with decision making. In the current study, we use path analysis to examine the direct and indirect pathways linking age, education, cognition, literacy, and risk aversion with decision making. We also decomposed literacy into its subcomponents, conceptual knowledge and numeracy, in order to examine their associations with decision making. Participants were 937 community-based older adults without dementia from the Rush Memory and Aging Project who completed a battery of cognitive tests and assessments of healthcare and financial decision making, health and financial literacy, and risk aversion. Age and education exerted effects on decision making, but nearly two thirds of their effects were indirect, working mostly through cognition and literacy. Cognition exerted a strong direct effect on decision making and a robust indirect effect working primarily through literacy. Literacy also exerted a powerful direct effect on decision making, as did its subcomponents, conceptual knowledge and numeracy. The direct effect of risk aversion was comparatively weak. In addition to cognition, health and financial literacy emerged as independent and primary correlates of healthcare and financial decision making. These findings suggest specific actions that might be taken to optimize healthcare and financial decision making and, by extension, improve health and well-being in advanced age. (PsycINFO Database Record (c) 2018 APA, all rights reserved).

Developmental reversals in risky decision making: intelligence agents show larger decision biases than college students.

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Reyna, Valerie F; Chick, Christina F; Corbin, Jonathan C; Hsia, Andrew N

2014-01-01

Intelligence agents make risky decisions routinely, with serious consequences for national security. Although common sense and most theories imply that experienced intelligence professionals should be less prone to irrational inconsistencies than college students, we show the opposite. Moreover, the growth of experience-based intuition predicts this developmental reversal. We presented intelligence agents, college students, and postcollege adults with 30 risky-choice problems in gain and loss frames and then compared the three groups' decisions. The agents not only exhibited larger framing biases than the students, but also were more confident in their decisions. The postcollege adults (who were selected to be similar to the students) occupied an interesting middle ground, being generally as biased as the students (sometimes more biased) but less biased than the agents. An experimental manipulation testing an explanation for these effects, derived from fuzzy-trace theory, made the students look as biased as the agents. These results show that, although framing biases are irrational (because equivalent outcomes are treated differently), they are the ironical output of cognitively advanced mechanisms of meaning making.

Artificial intelligence and foreign policy decision-making

OpenAIRE

Berkoff, Russ H.

1997-01-01

Approved for public release; distribution is unlimited With the advent of a global information society, the US will seek to tap the potential of advanced computing capability to enhance its ability to conduct foreign policy decision making. This thesis explores the potential for improving individual and organizational decision making capabilities by means of artificial intelligence (AI). The use of AI will allow us to take advantage of the plethora of information available to obtain an edg...

Intelligent Decision Support and Big Data for Logistics and Supply Chain Management

DEFF Research Database (Denmark)

Voss, Stefan; Sebastian, Hans-Jürgen; Pahl, Julia

2017-01-01

Intelligent Decision Support and Big Data for Logistics and Supply Chain Management” features theoretical developments, real-world applications and information systems related to solving decision problems in logistics and supply chain management. Methods include optimization, heuristics, metaheur......Intelligent Decision Support and Big Data for Logistics and Supply Chain Management” features theoretical developments, real-world applications and information systems related to solving decision problems in logistics and supply chain management. Methods include optimization, heuristics......, metaheuristics and matheuristics, simulation, agent technologies, and descriptive methods. In a sense, we were and are representing the future of logistics over the years....

Artificial Intelligence at Advanced Information and Decision Systems

OpenAIRE

McCune, Brian P.

1981-01-01

Advanced Information and Decision Systems (AI-DS) is a relatively new, employee-owned company that does basic and applied research, product development, and consulting in the fields of artificial intelligence, computer science, decision analysis, operations research, control theory, estimation theory, and signal processing. AI&DS performs studies, analyses, systems design and evaluation, and software development for a variety of industrial clients and government agencies, including the Depart...

Framework for Assessing Financial Literacy and Superannuation Investment Choice Decisions

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Natalie Gallery

2011-06-01

Full Text Available There is a worldwide trend towards rapidly growing defined contribution pension funds in terms of assets andmembership, and the choices available to individuals. This has shifted the decisionmaking responsibility tofund members for managing the investment of their retirement savings. This change has given rise to aphenomenon where most superannuation fund members are responsible for either actively choosing orpassively relying on their funds’ default investment options. Prior research identifies that deficiencies infinancial literacy is one of the causes of inertia in financial decision-making and findings from internationaland Australian studies show that financial illiteracy is wide-spread. Given the potential significant economicand social consequences of poor financial decision-making in superannuation matters, this paper proposes aframework by which the various demographic, social and contextual factors that influence fund members’financial literacy and its association with investment choice decisions are explored. Enhanced theoretical andempirical understanding of the factors that are associated with active/passive investment choice decisionswould enable development of well-targeted financial education programs.

Neuro-Based Artificial Intelligence Model for Loan Decisions

OpenAIRE

Shorouq F. Eletter; Saad G. Yaseen; Ghaleb A. Elrefae

2010-01-01

Problem statement: Despite the increase in consumer loans defaults and competition in the banking market, most of the Jordanian commercial banks are reluctant to use artificial intelligence software systems for supporting loan decisions. Approach: This study developed a proposed model that identifies artificial neural network as an enabling tool for evaluating credit applications to support loan decisions in the Jordanian Commercial banks. A multi-layer feed-forward neural network with backpr...

MOIDSS?- Mobile Online Intelligent Decision Support System, Phase II

Data.gov (United States)

National Aeronautics and Space Administration — GRID has had a successfully completed Phase I 'Mobile Online Intelligent Decision Support System' (MOIDSS). The system developed into a total solution that supports...

Emotional Intelligence and risk taking in investment decision-making

OpenAIRE

Enrico Rubaltelli; Sergio Agnoli; Michela Rancan; Tiziana Pozzoli

2015-01-01

Previous work on investment decision-making suggested that emotions prevent investors from taking risks and from investing in a rational way, whereas other work found that there is great variability in people’s ability to manage and use emotional feedbacks. We hypothesized that people with high trait emotional intelligence should be more willing, than people with low trait emotional intelligence, to accept risks when making an investment. Data supported a model in which trait emotional intell...

Quantifying Risk of Financial Incapacity and Financial Exploitation in Community-dwelling Older Adults: Utility of a Scoring System for the Lichtenberg Financial Decision-making Rating Scale.

Science.gov (United States)

Lichtenberg, Peter A; Gross, Evan; Ficker, Lisa J

2018-06-08

This work examines the clinical utility of the scoring system for the Lichtenberg Financial Decision-making Rating Scale (LFDRS) and its usefulness for decision making capacity and financial exploitation. Objective 1 was to examine the clinical utility of a person centered, empirically supported, financial decision making scale. Objective 2 was to determine whether the risk-scoring system created for this rating scale is sufficiently accurate for the use of cutoff scores in cases of decisional capacity and cases of suspected financial exploitation. Objective 3 was to examine whether cognitive decline and decisional impairment predicted suspected financial exploitation. Two hundred independently living, non-demented community-dwelling older adults comprised the sample. Participants completed the rating scale and other cognitive measures. Receiver operating characteristic curves were in the good to excellent range for decisional capacity scoring, and in the fair to good range for financial exploitation. Analyses supported the conceptual link between decision making deficits and risk for exploitation, and supported the use of the risk-scoring system in a community-based population. This study adds to the empirical evidence supporting the use of the rating scale as a clinical tool assessing risk for financial decisional impairment and/or financial exploitation.

Affective Decision Making in Artificial Intelligence : Making Virtual Characters With High Believability

OpenAIRE

Johansson, Anja

2012-01-01

Artificial intelligence is often used when creating believable virtual characters in games or in other types of virtual environments. The intelligent behavior these characters show to the player is often flawed, leading to a worse gameplay experience. In particular, there is often little or no emotional impact on the decision making of the characters. This thesis focuses on extending decision-making and pathfinding mechanisms for virtual characters, with a particular focus on the use of emoti...

ARGUMENTS ON USING COMPUTER-ASSISTED AUDIT TECHNIQUES (CAAT AND BUSINESS INTELLIGENCE TO IMPROVE THE WORK OF THE FINANCIAL AUDITOR

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Ciprian-Costel, MUNTEANU

2014-11-01

Full Text Available In the 21st century, one of the most efficient ways to achieve an independent audit and quality opinion is by using information from the organization database, mainly documents in electronic format. With the help of Computer-Assisted Audit Techniques (CAAT, the financial auditor analyzes part or even all the data about a company in reference to other information within or outside the entity. The main purpose of this paper is to show the benefits of evolving from traditional audit techniques and tools to modern and , why not, visionary CAAT, which are supported by business intelligence systems. Given the opportunity to perform their work in IT environments, the auditors would start using the tools of business intelligence, a key factor which contributes to making successful business decisions . CAAT enable auditors to test large amount of data quickly and accurately and therefore increase the confidence they have in their opinion.

Intelligent decision technology support in practice

CERN Document Server

Neves-Silva, Rui; Jain, Lakhmi; Phillips-Wren, Gloria; Watada, Junzo; Howlett, Robert

2016-01-01

This book contains a collection of innovative chapters emanating from topics raised during the 5th KES International Conference on Intelligent Decision Technologies (IDT), held during 2013 at Sesimbra, Portugal. The authors were invited to expand their original papers into a plethora of innovative chapters espousing IDT methodologies and applications. This book documents leading-edge contributions, representing advances in Knowledge-Based and Intelligent Information and Engineering System. It acknowledges that researchers recognize that society is familiar with modern Advanced Information Processing and increasingly expect richer IDT systems. Each chapter concentrates on the theory, design, development, implementation, testing or evaluation of IDT techniques or applications.  Anyone that wants to work with IDT or simply process knowledge should consider reading one or more chapters and focus on their technique of choice. Most readers will benefit from reading additional chapters to access alternative techniq...

Argumentative SOX Compliant and Quality Decision Support Intelligent Expert System over the Suppliers Selection Process

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Jesus Angel Fernandez Canelas

2013-01-01

Full Text Available The objective of this paper is to define a decision support system over SOX (Sarbanes-Oxley Act compatibility and quality of the Suppliers Selection Process based on Artificial Intelligence and Argumentation Theory knowledge and techniques. The present SOX Law, in effect nowadays, was created to improve financial government control over US companies. This law is a factor standard out United States due to several factors like present globalization, expansion of US companies, or key influence of US stock exchange markets worldwide. This paper constitutes a novel approach to this kind of problems due to following elements: (1 it has an optimized structure to look for the solution, (2 it has a dynamic learning method to handle court and control gonvernment bodies decisions, (3 it uses fuzzy knowledge to improve its performance, and (4 it uses its past accumulated experience to let the system evolve far beyond its initial state.

THE IMPACT OF CREATIVE ACCOUNTING ON FINANCIAL AUDIT

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RADU VASILE POP

2013-12-01

Full Text Available The information supplied by the financial statements based on creative accounting presents a large number of characteristics: the usefulness of information in the decision making process, the relevance (pertinence, reliability (objectivity or credibility, opportunity (meeting deadlines, predictive value, retrospective value, verifiability, neutrality, fidelity, prudence, continuity, importance, balance between cost and benefits, complete character (completeness, the absence of misleading elements, intelligibility, comparability. Detecting creative accounting influences on financial statements is the role of the financial auditor who can correct these deviations.

The role of auditory spectro-temporal modulation filtering and the decision metric for speech intelligibility prediction

DEFF Research Database (Denmark)

Chabot-Leclerc, Alexandre; Jørgensen, Søren; Dau, Torsten

2014-01-01

Speech intelligibility models typically consist of a preprocessing part that transforms stimuli into some internal (auditory) representation and a decision metric that relates the internal representation to speech intelligibility. The present study analyzed the role of modulation filtering...... in the preprocessing of different speech intelligibility models by comparing predictions from models that either assume a spectro-temporal (i.e., two-dimensional) or a temporal-only (i.e., one-dimensional) modulation filterbank. Furthermore, the role of the decision metric for speech intelligibility was investigated...... subtraction. The results suggested that a decision metric based on the SNRenv may provide a more general basis for predicting speech intelligibility than a metric based on the MTF. Moreover, the one-dimensional modulation filtering process was found to be sufficient to account for the data when combined...

INTELLIGENT DECISION SUPPORT ON FOREX

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V. A. Rybak

2014-01-01

Full Text Available A new technology of intelligent decision support on Forex, including forming algorithms of trading signals, rules for the training sample based on technical indicators, which have the highest correlation with the price, the method of reducing the number of losing trades, is proposed. The last is based on an analysis of the wave structure of the market, while the beginning of the cycle (the wave number one is offered to be identified using Bill Williams Oscillator (Awesome oscillator. The process chain of constructing neuro-fuzzy model using software package MatLab is described.

Money matters: Rapid post-earthquake financial decision-making

Science.gov (United States)

Wald, David J.; Franco, Guillermo

2016-01-01

Post-earthquake financial decision-making is a realm beyond that of many people. In the immediate aftermath of a damaging earthquake, billions of dollars of relief, recovery, and insurance funds are in the balance through new financial instruments that allow those with resources to hedge against disasters and those at risk to limit their earthquake losses and receive funds for response and recovery.

The impact of health and financial literacy on decision making in community-based older adults.

Science.gov (United States)

James, Bryan D; Boyle, Patricia A; Bennett, Jarred S; Bennett, David A

2012-01-01

Health and financial literacy have been linked to the health and well-being of older adults, yet there are few data on how health and financial literacy actually impact decision making regarding healthcare and economic choices in advanced age. To examine the association of health and financial literacy with decision making in older adults. Data came from 525 community-dwelling older persons without dementia from the Rush Memory and Aging Project, an ongoing longitudinal study of aging. Health and financial literacy were assessed via a series of questions designed to measure comprehension of health and financial information and concepts. The two scores were averaged to yield a total literacy score. A modified, 12-item version of the Decision-Making Competence Assessment Tool was used to measure financial and healthcare decision making (6 items each), using materials designed to approximate those used in real world settings. All 12 items were summed to yield a total decision-making score. Associations were tested via linear regression models adjusted for age, sex and education. Secondary models adjusted for global cognitive function, income, depression and chronic medical conditions. On average, participants correctly answered 67% of the literacy questions (health literacy = 61.6%, SD = 18.8% and financial literacy = 72.5%, SD = 16.0%). After adjustment for cognitive function, the total literacy score was positively associated with the decision-making total score (estimate = 0.64, SE = 0.08, p financial decision making (estimate = 0.28, SE = 0.05, p literacy, health and financial literacy all were independently associated with decision making in models adjusted for covariates including income, depression, and chronic medical conditions (all p values literacy and healthcare decision making was stronger among older persons, poorer persons and persons at the lower ranges of cognitive ability. Among community based older persons without dementia, higher levels of health

Financial Constraints and Franchising Decisions

OpenAIRE

Kai-Uwe Kuhn; Francine Lafontaine; Ying Fan

2013-01-01

We study how the financial constraints of agents affect the behavior of principals in the context of franchising. We develop an empirical model of franchising starting with a principal-agent framework that emphasizes the role of franchisees' collateral from an incentive perspective. We estimate the determinants of chains' entry (into franchising) and growth decisions using data on franchised chains and data on local macroeconomic conditions. In particular, we use collateralizable housing weal...

Superstition and financial decision making

OpenAIRE

Hirshleifer, David; Jian, Ming; Zhang, Huai

2014-01-01

In Chinese culture, certain digits are lucky and others unlucky. We test how such numerological superstition affects financial decision in the China IPO market. We find that the frequency of lucky numerical stock listing codes exceeds what would be expected by chance. Also consistent with superstition effects, newly listed firms with lucky listing codes are initially traded at a premium after controlling for known determinants of valuation multiples, the lucky number premium dissipates within...

Transformational Leadership Style as Predictor of Decision Making Styles: Moderating Role of Emotional Intelligence

OpenAIRE

Rana Rashid Rehman; Ajmal Waheed

2012-01-01

The current study examines the relationship among transformational leadership style and decision making styles. It also determines the moderating role of emotional intelligence in predicting this relationship. Three hypotheses are generated for the study i.e., twohypotheses are to measure the relationship among transformational leadership style and decision making styles whereas third hypothesis is to assess the moderating effect of emotional intelligence. Questionnaire method is used to coll...

Residents' perceptions about surrogate decision makers' financial conflicts of interest in ventilator withdrawal.

Science.gov (United States)

Wastila, Lisa J; Farber, Neil J

2014-05-01

There have been no studies to date that examine physicians' decisions to withdraw life-sustaining treatment for patients based on their surrogates' financial gain. The authors' objective was to ascertain physician attitudes about withdrawing life-sustaining treatment when financial considerations are involved. A survey was developed and pretested containing eight scenarios in which a terminally ill patient's spouse had a decision to make regarding withdrawal of the ventilator, which was deemed medically futile. Nested variables included agreement or disagreement between the spouse and patient, decision to withdraw or continue the ventilator, and financial gain or no financial gain for the spouse. The authors surveyed all internal medicine residents at the University of California, San Diego in the autumn of 2011 and winter of 2012. The responses on each of the three variables for which respondents were likely to withdraw the ventilator were analyzed via student's t-tests. Residents were more likely to withdraw the ventilator when requested to do so than when it was requested to be continued. They were also more likely to withdraw the ventilator when there was agreement in the decision between the spouse and the patient. Residents were more likely to withdraw the ventilator when the spouse would not benefit financially. Internal medicine residents make some decisions about whether to withdraw life-sustaining treatment based on financial considerations. There needs to be ongoing communication with residents about end-of-life decisions where conflicts may exist between the surrogate decision makers and patients or physicians.

BUSINESS INTELLIGENCE TOOLS FOR DATA ANALYSIS AND DECISION MAKING

Directory of Open Access Journals (Sweden)

DEJAN ZDRAVESKI

2011-04-01

Full Text Available Every business is dynamic in nature and is affected by various external and internal factors. These factors include external market conditions, competitors, internal restructuring and re-alignment, operational optimization and paradigm shifts in the business itself. New regulations and restrictions, in combination with the above factors, contribute to the constant evolutionary nature of compelling, business-critical information; the kind of information that an organization needs to sustain and thrive. Business intelligence (“BI” is broad term that encapsulates the process of gathering information pertaining to a business and the market it functions in. This information when collated and analyzed in the right manner, can provide vital insights into the business and can be a tool to improve efficiency, reduce costs, reduce time lags and bring many positive changes. A business intelligence application helps to achieve precisely that. Successful organizations maximize the use of their data assets through business intelligence technology. The first data warehousing and decision support tools introduced companies to the power and benefits of accessing and analyzing their corporate data. Business users at every level found new, more sophisticated ways to analyze and report on the information mined from their vast data warehouses.Choosing a Business Intelligence offering is an important decision for an enterprise, one that will have a significant impact throughout the enterprise. The choice of a BI offering will affect people up and down the chain of command (senior management, analysts, and line managers and across functional areas (sales, finance, and operations. It will affect business users, application developers, and IT professionals. BI applications include the activities of decision support systems (DSS, query and reporting, online analyticalprocessing (OLAP, statistical analysis, forecasting, and data mining. Another way of phrasing this is

Is the Ownership Structure Model a Decisive Determinant of Co-Operatives' Financial Success? A Financial Assessment

NARCIS (Netherlands)

Kalogeras, N.; Pennings, J.M.E.; Kuikman, J.; Doumpos, M.

2011-01-01

Abstract. In this paper, the financial/ownership structures of agribusiness co-operatives (co-ops) are analyzed in order to examine whether new co-op models perform better than the more traditional ones. The assessment procedure introduces a new financial decision-aid approach, which is based on

Intelligent Model Management in a Forest Ecosystem Management Decision Support System

Science.gov (United States)

Donald Nute; Walter D. Potter; Frederick Maier; Jin Wang; Mark Twery; H. Michael Rauscher; Peter Knopp; Scott Thomasma; Mayukh Dass; Hajime Uchiyama

2002-01-01

Decision making for forest ecosystem management can include the use of a wide variety of modeling tools. These tools include vegetation growth models, wildlife models, silvicultural models, GIS, and visualization tools. NED-2 is a robust, intelligent, goal-driven decision support system that integrates tools in each of these categories. NED-2 uses a blackboard...

BUILDING A COMPETITIVE BUSINESS INTELLIGENCE ARCHITECTURE THAT CAN FOSTER PERFORMANCE IN THE ROMANIAN NATIONAL RAILWAY COMPANY

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Dragan George Bogdan

2015-05-01

Full Text Available Today many industry players from banking, financial services, insurance, IT, healthcare, telecommunications and transportation are deploying competitive business intelligence to grow their company’s financial results. The use of such advanced business applications is one key enabler to increase their spread which provides them an edge over their competitors. Companies of the future are buiding a new culture developed on fact-based decisions. (BusinessWeek Research Services, 2009 These decisions are made through analysis using the business analytics systems which encourage the anticipation in solving complex business problems in the entire organization. Embracing this approach, these companies focus on their most profitable customers, define the right pricing, a faster product innovation, optimize supply chains and identify the real drivers of financial performance. This research paper will detail the theorethical importance of using competitive business intelligence architectures to gain competitive advantage.

An evolutionary model of bounded rationality and intelligence.

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Thomas J Brennan

Full Text Available BACKGROUND: Most economic theories are based on the premise that individuals maximize their own self-interest and correctly incorporate the structure of their environment into all decisions, thanks to human intelligence. The influence of this paradigm goes far beyond academia-it underlies current macroeconomic and monetary policies, and is also an integral part of existing financial regulations. However, there is mounting empirical and experimental evidence, including the recent financial crisis, suggesting that humans do not always behave rationally, but often make seemingly random and suboptimal decisions. METHODS AND FINDINGS: Here we propose to reconcile these contradictory perspectives by developing a simple binary-choice model that takes evolutionary consequences of decisions into account as well as the role of intelligence, which we define as any ability of an individual to increase its genetic success. If no intelligence is present, our model produces results consistent with prior literature and shows that risks that are independent across individuals in a generation generally lead to risk-neutral behaviors, but that risks that are correlated across a generation can lead to behaviors such as risk aversion, loss aversion, probability matching, and randomization. When intelligence is present the nature of risk also matters, and we show that even when risks are independent, either risk-neutral behavior or probability matching will occur depending upon the cost of intelligence in terms of reproductive success. In the case of correlated risks, we derive an implicit formula that shows how intelligence can emerge via selection, why it may be bounded, and how such bounds typically imply the coexistence of multiple levels and types of intelligence as a reflection of varying environmental conditions. CONCLUSIONS: Rational economic behavior in which individuals maximize their own self interest is only one of many possible types of behavior that

An evolutionary model of bounded rationality and intelligence.

Science.gov (United States)

Brennan, Thomas J; Lo, Andrew W

2012-01-01

Most economic theories are based on the premise that individuals maximize their own self-interest and correctly incorporate the structure of their environment into all decisions, thanks to human intelligence. The influence of this paradigm goes far beyond academia-it underlies current macroeconomic and monetary policies, and is also an integral part of existing financial regulations. However, there is mounting empirical and experimental evidence, including the recent financial crisis, suggesting that humans do not always behave rationally, but often make seemingly random and suboptimal decisions. Here we propose to reconcile these contradictory perspectives by developing a simple binary-choice model that takes evolutionary consequences of decisions into account as well as the role of intelligence, which we define as any ability of an individual to increase its genetic success. If no intelligence is present, our model produces results consistent with prior literature and shows that risks that are independent across individuals in a generation generally lead to risk-neutral behaviors, but that risks that are correlated across a generation can lead to behaviors such as risk aversion, loss aversion, probability matching, and randomization. When intelligence is present the nature of risk also matters, and we show that even when risks are independent, either risk-neutral behavior or probability matching will occur depending upon the cost of intelligence in terms of reproductive success. In the case of correlated risks, we derive an implicit formula that shows how intelligence can emerge via selection, why it may be bounded, and how such bounds typically imply the coexistence of multiple levels and types of intelligence as a reflection of varying environmental conditions. Rational economic behavior in which individuals maximize their own self interest is only one of many possible types of behavior that arise from natural selection. The key to understanding which types of

Financial Indicators in Strategic Decision Making: Recommended Practices for Financial Officers at Small Private Colleges and Universities in the Midwestern United States

Science.gov (United States)

Reissenweber, Beth

2012-01-01

This study explored whether financial leaders and institutional governing boards use financial indicators as a tool to inform decision making, solely as a compliance measurement tool, or not at all. The purpose of this qualitative study was two-fold to: (a) identify the use of financial indicators in strategic decision making, and (b) investigate…

Financial Forecasting and Stochastic Modeling: Predicting the Impact of Business Decisions.

Science.gov (United States)

Rubin, Geoffrey D; Patel, Bhavik N

2017-05-01

In health care organizations, effective investment of precious resources is critical to assure that the organization delivers high-quality and sustainable patient care within a supportive environment for patients, their families, and the health care providers. This holds true for organizations independent of size, from small practices to large health systems. For radiologists whose role is to oversee the delivery of imaging services and the interpretation, communication, and curation of imaging-informed information, business decisions influence where and how they practice, the tools available for image acquisition and interpretation, and ultimately their professional satisfaction. With so much at stake, physicians must understand and embrace the methods necessary to develop and interpret robust financial analyses so they effectively participate in and better understand decision making. This review discusses the financial drivers upon which health care organizations base investment decisions and the central role that stochastic financial modeling should play in support of strategically aligned capital investments. Given a health care industry that has been slow to embrace advanced financial analytics, a fundamental message of this review is that the skills and analytical tools are readily attainable and well worth the effort to implement in the interest of informed decision making. © RSNA, 2017 Online supplemental material is available for this article.

Implementace Business Intelligence v poradenské společnosti

OpenAIRE

Filka, Zdeněk

2010-01-01

The main aim of this thesis is the proposal and implementation of the support of decision making with the help of Business Intelligence tools in Audit CI, company limited providing economic and financial consultancy. Business Intelligence tools are applied at the creation of reports which company provides for its clients in terms of its services. On the basis of these reports subsequently suggests recommendations in the field of finance and intradepartmental management. The whole thesis is di...

Artificial intelligence tools decision support systems in condition monitoring and diagnosis

CERN Document Server

Galar Pascual, Diego

2015-01-01

Artificial Intelligence Tools: Decision Support Systems in Condition Monitoring and Diagnosis discusses various white- and black-box approaches to fault diagnosis in condition monitoring (CM). This indispensable resource: Addresses nearest-neighbor-based, clustering-based, statistical, and information theory-based techniques Considers the merits of each technique as well as the issues associated with real-life application Covers classification methods, from neural networks to Bayesian and support vector machines Proposes fuzzy logic to explain the uncertainties associated with diagnostic processes Provides data sets, sample signals, and MATLAB® code for algorithm testing Artificial Intelligence Tools: Decision Support Systems in Condition Monitoring and Diagnosis delivers a thorough evaluation of the latest AI tools for CM, describing the most common fault diagnosis techniques used and the data acquired when these techniques are applied.

Achieving Robustness to Uncertainty for Financial Decision-making

Energy Technology Data Exchange (ETDEWEB)

Barnum, George M. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Van Buren, Kendra L. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Hemez, Francois M. [Los Alamos National Lab. (LANL), Los Alamos, NM (United States); Song, Peter [Univ. of Pennsylvania, Philadelphia, PA (United States)

2014-01-10

This report investigates the concept of robustness analysis to support financial decision-making. Financial models, that forecast future stock returns or market conditions, depend on assumptions that might be unwarranted and variables that might exhibit large fluctuations from their last-known values. The analysis of robustness explores these sources of uncertainty, and recommends model settings such that the forecasts used for decision-making are as insensitive as possible to the uncertainty. A proof-of-concept is presented with the Capital Asset Pricing Model. The robustness of model predictions is assessed using info-gap decision theory. Info-gaps are models of uncertainty that express the “distance,” or gap of information, between what is known and what needs to be known in order to support the decision. The analysis yields a description of worst-case stock returns as a function of increasing gaps in our knowledge. The analyst can then decide on the best course of action by trading-off worst-case performance with “risk”, which is how much uncertainty they think needs to be accommodated in the future. The report also discusses the Graphical User Interface, developed using the MATLAB® programming environment, such that the user can control the analysis through an easy-to-navigate interface. Three directions of future work are identified to enhance the present software. First, the code should be re-written using the Python scientific programming software. This change will achieve greater cross-platform compatibility, better portability, allow for a more professional appearance, and render it independent from a commercial license, which MATLAB® requires. Second, a capability should be developed to allow users to quickly implement and analyze their own models. This will facilitate application of the software to the evaluation of proprietary financial models. The third enhancement proposed is to add the ability to evaluate multiple models simultaneously

Hospital ownership, decisions on supervisory board characteristics, and financial performance.

Science.gov (United States)

Kuntz, Ludwig; Pulm, Jannis; Wittland, Michael

2016-01-01

Dynamic and complex transformations in the hospital market increase the relevance of good corporate governance. However, hospital performance and the characteristics of supervisory boards differ depending on ownership. The question therefore arises whether hospital owners can influence performance by addressing supervisory board characteristics. The objective of this study is to explain differences in the financial performance of hospitals with regard to ownership by studying the size and composition of supervisory boards. The AMADEUS database was used to collect information on hospital financial performance in 2009 and 2010. Business and quality reports, hospital websites, and data from health insurer were used to obtain information on hospital and board characteristics. The resulting sample consisted of 175 German hospital corporations. We utilized ANOVA and regression analysis to test a mediation hypothesis that investigated whether decisions regarding board size and composition were associated with financial performance and could explain performance differences. Financial performance and board size and composition depend on ownership. An increase in board size and greater politician participation were negatively associated with all five tested measures of financial performance. Furthermore, an increase in physician participation was positively associated with one dimension of financial performance, whereas one negative relationship was identified for nurse and economist participation. For clerics, no associations were found. Decisions concerning board size and composition are important as they relate to hospital financial performance. We contribute to existing research by showing that, in addition to board size and physician participation, the participation of other professionals can also influence financial performance.

Which Cooperative Ownership Model Performs Better? A Financial-Decision Aid Approach

NARCIS (Netherlands)

Kalogeras, N.; Pennings, J.M.E.; Benos, T.; Doumpos, M.

2013-01-01

In this article the financial/ownership structures of agribusiness cooperatives are analyzed to examine whether new cooperative models perform better than the more traditional ones. The assessment procedure introduces a new financial decision-aid approach, which is based on data-analysis techniques

Decision Support for Software Process Management Teams: An Intelligent Software Agent Approach

National Research Council Canada - National Science Library

Church, Lori

2000-01-01

... to market, eliminate redundancy, and ease job stress. This thesis proposes a conceptual model for software process management decision support in the form of an intelligent software agent network...

Engineering and management of IT-based service systems an intelligent decision-making support systems approach

CERN Document Server

Gomez, Jorge; Garrido, Leonardo; Perez, Francisco

2014-01-01

Intelligent Decision-Making Support Systems (i-DMSS) are specialized IT-based systems that support some or several phases of the individual, team, organizational or inter-organizational decision making process by deploying some or several intelligent mechanisms. This book pursues the following academic aims: (i) generate a compendium of quality theoretical and applied contributions in Intelligent Decision-Making Support Systems (i-DMSS) for engineering and management IT-based service systems (ITSS); (ii)  diffuse scarce knowledge about foundations, architectures and effective and efficient methods and strategies for successfully planning, designing, building, operating, and evaluating i-DMSS for ITSS, and (iii) create an awareness of, and a bridge between ITSS and i-DMSS academicians and practitioners in the current complex and dynamic engineering and management ITSS organizational. The book presents a collection of 11 chapters referring to relevant topics for both IT service systems and i-DMSS including: pr...

Intelligent decision support systems for sustainable computing paradigms and applications

CERN Document Server

Abraham, Ajith; Siarry, Patrick; Sheng, Michael

2017-01-01

This unique book dicusses the latest research, innovative ideas, challenges and computational intelligence (CI) solutions in sustainable computing. It presents novel, in-depth fundamental research on achieving a sustainable lifestyle for society, either from a methodological or from an application perspective. Sustainable computing has expanded to become a significant research area covering the fields of computer science and engineering, electrical engineering and other engineering disciplines, and there has been an increase in the amount of literature on aspects sustainable computing such as energy efficiency and natural resources conservation that emphasizes the role of ICT (information and communications technology) in achieving system design and operation objectives. The energy impact/design of more efficient IT infrastructures is a key challenge in realizing new computing paradigms. The book explores the uses of computational intelligence (CI) techniques for intelligent decision support that can be explo...

Estimating preference parameters in individual financial decision-making

NARCIS (Netherlands)

Teppa, F.

2003-01-01

This thesis deals with individual financial decision making, that is the process of choosing a preferred option from among a set of alternatives. Individual behavior has been traditionally studied in economics by means of the rational-choice model, which assumes that agents maximize some objective

What Explains the Gender Gap in Financial Literacy? The Role of Household Decision Making.

Science.gov (United States)

Fonseca, Raquel; Mullen, Kathleen J; Zamarro, Gema; Zissimopoulos, Julie

2012-01-01

Using newly collected data from the RAND American Life Panel, we examine potential explanations for the gender gap in financial literacy, including the role of marriage and who within a couple makes the financial decisions. Blinder-Oaxaca decomposition reveals the majority of the gender gap in financial literacy is not explained by differences in the characteristics of men and women-but rather differences in coefficients, or how literacy is produced. We find that financial decision making of couples is not centralized in one spouse although it is sensitive to the relative education level of spouses.

Artificial intelligence framework for simulating clinical decision-making: a Markov decision process approach.

Science.gov (United States)

Bennett, Casey C; Hauser, Kris

2013-01-01

In the modern healthcare system, rapidly expanding costs/complexity, the growing myriad of treatment options, and exploding information streams that often do not effectively reach the front lines hinder the ability to choose optimal treatment decisions over time. The goal in this paper is to develop a general purpose (non-disease-specific) computational/artificial intelligence (AI) framework to address these challenges. This framework serves two potential functions: (1) a simulation environment for exploring various healthcare policies, payment methodologies, etc., and (2) the basis for clinical artificial intelligence - an AI that can "think like a doctor". This approach combines Markov decision processes and dynamic decision networks to learn from clinical data and develop complex plans via simulation of alternative sequential decision paths while capturing the sometimes conflicting, sometimes synergistic interactions of various components in the healthcare system. It can operate in partially observable environments (in the case of missing observations or data) by maintaining belief states about patient health status and functions as an online agent that plans and re-plans as actions are performed and new observations are obtained. This framework was evaluated using real patient data from an electronic health record. The results demonstrate the feasibility of this approach; such an AI framework easily outperforms the current treatment-as-usual (TAU) case-rate/fee-for-service models of healthcare. The cost per unit of outcome change (CPUC) was $189 vs. $497 for AI vs. TAU (where lower is considered optimal) - while at the same time the AI approach could obtain a 30-35% increase in patient outcomes. Tweaking certain AI model parameters could further enhance this advantage, obtaining approximately 50% more improvement (outcome change) for roughly half the costs. Given careful design and problem formulation, an AI simulation framework can approximate optimal

Artificial Intelligence Framework for Simulating Clinical Decision-Making: A Markov Decision Process Approach

OpenAIRE

Bennett, Casey C.; Hauser, Kris

2013-01-01

In the modern healthcare system, rapidly expanding costs/complexity, the growing myriad of treatment options, and exploding information streams that often do not effectively reach the front lines hinder the ability to choose optimal treatment decisions over time. The goal in this paper is to develop a general purpose (non-disease-specific) computational/artificial intelligence (AI) framework to address these challenges. This serves two potential functions: 1) a simulation environment for expl...

Choice blindness in financial decision making

Directory of Open Access Journals (Sweden)

Owen McLaughlin

2013-09-01

Full Text Available Choice Blindness is an experimental paradigm that examines the interplay between individuals' preferences, decisions, and expectations by manipulating the relationship between intention and choice. This paper expands upon the existing Choice Blindness framework by investigating the presence of the effect in an economically significant decision context, specifically that of pension choice. In addition, it investigates a number of secondary factors hypothesized to modulate Choice Blindness, including reaction time, risk preference, and decision complexity, as well as analysing the verbal reports of non-detecting participants. The experiment was administered to 100 participants of mixed age and educational attainment. The principal finding was that no more than 37.2% of manipulated trials were detected over all conditions, a result consistent with previous Choice Blindness research. Analysis of secondary factors found that reaction time, financial sophistication and decision complexity were significant predictors of Choice Blindness detection, while content analysis of non-detecting participant responses found that 20% implied significant preference changes and 62% adhered to initial preferences. Implications of the Choice Blindness effect in the context of behavioural economics are discussed, and an agenda for further investigation of the paradigm in this context is outlined.

Modeling Common-Sense Decisions in Artificial Intelligence

Science.gov (United States)

Zak, Michail

2010-01-01

A methodology has been conceived for efficient synthesis of dynamical models that simulate common-sense decision- making processes. This methodology is intended to contribute to the design of artificial-intelligence systems that could imitate human common-sense decision making or assist humans in making correct decisions in unanticipated circumstances. This methodology is a product of continuing research on mathematical models of the behaviors of single- and multi-agent systems known in biology, economics, and sociology, ranging from a single-cell organism at one extreme to the whole of human society at the other extreme. Earlier results of this research were reported in several prior NASA Tech Briefs articles, the three most recent and relevant being Characteristics of Dynamics of Intelligent Systems (NPO -21037), NASA Tech Briefs, Vol. 26, No. 12 (December 2002), page 48; Self-Supervised Dynamical Systems (NPO-30634), NASA Tech Briefs, Vol. 27, No. 3 (March 2003), page 72; and Complexity for Survival of Living Systems (NPO- 43302), NASA Tech Briefs, Vol. 33, No. 7 (July 2009), page 62. The methodology involves the concepts reported previously, albeit viewed from a different perspective. One of the main underlying ideas is to extend the application of physical first principles to the behaviors of living systems. Models of motor dynamics are used to simulate the observable behaviors of systems or objects of interest, and models of mental dynamics are used to represent the evolution of the corresponding knowledge bases. For a given system, the knowledge base is modeled in the form of probability distributions and the mental dynamics is represented by models of the evolution of the probability densities or, equivalently, models of flows of information. Autonomy is imparted to the decisionmaking process by feedback from mental to motor dynamics. This feedback replaces unavailable external information by information stored in the internal knowledge base. Representation

Study on Data Clustering and Intelligent Decision Algorithm of Indoor Localization

Science.gov (United States)

Liu, Zexi

2018-01-01

Indoor positioning technology enables the human beings to have the ability of positional perception in architectural space, and there is a shortage of single network coverage and the problem of location data redundancy. So this article puts forward the indoor positioning data clustering algorithm and intelligent decision-making research, design the basic ideas of multi-source indoor positioning technology, analyzes the fingerprint localization algorithm based on distance measurement, position and orientation of inertial device integration. By optimizing the clustering processing of massive indoor location data, the data normalization pretreatment, multi-dimensional controllable clustering center and multi-factor clustering are realized, and the redundancy of locating data is reduced. In addition, the path is proposed based on neural network inference and decision, design the sparse data input layer, the dynamic feedback hidden layer and output layer, low dimensional results improve the intelligent navigation path planning.

An Embedded Training Solution: FBCB2/Tactical Decision Making Intelligent Tutoring System

National Research Council Canada - National Science Library

Stottler, Richard H; Pike, Bill

2005-01-01

We are developing for STRICOM an Intelligent Tutoring System (ITS) for tank and mechanized infantry company commanders that teaches tactical decision making and the tactical use of FBCB2, a C4I system...

The Effects of Financial Incentives on Retirement Decisions:

DEFF Research Database (Denmark)

Søgaard, Jakob Egholt; Anton Schultz, Esben; Schaarup, Jonas Zielke

2013-01-01

We exploit a temporary tax rebate introduced in Denmark in 2008 to estimate the effect of financial incentives on retirement decisions. The scheme offered individuals in a limited number of cohorts a tax rebate of up to 100,000 DKK (approximately $20,000) if they stayed on the labor market until...

Management Information, Decision Sciences, and Financial Economics : a connection

NARCIS (Netherlands)

C-L. Chang (Chia-Lin); M.J. McAleer (Michael); W.-K. Wong (Wing-Keung)

2018-01-01

markdownabstractThe paper provides a brief review of the connecting literature in management information, decision sciences, and financial economics, and discusses some research that is related to the three cognate disciplines. Academics could develop theoretical models and subsequent

The usefulness of fair value estimates for financial decision making: a literature review

Directory of Open Access Journals (Sweden)

Alfreda Sapkauskiene

2017-09-01

Full Text Available The usefulness of fair value estimates for financial decision making: a literature review The objective of this discussion is to answer the fundamental question: ‘Are Fair Value estimates current-ly useful for financial decision making?’ Through a systematic review we analyse the qualitative second-ary data from dedicated scientific articles, based on the relevance and reliability of Fair Value estimates, and find out that there are still ongoing problems with reliability of information mainly because of the managerial estimation process and the ‘human factor’ in general. We identify 3 problem areas that are closely interconnected: (1 the business entity, (2 auditing, and (3 financial regulators and accounting academics. Each area has its own set of challenges and several suggestions are given to improve the reliability and relevance of Fair Value estimates, but a lot of those propositions require dedicated attention from accounting academics, financial regulators, and standard-setters. All in all, there is a clear trend that the situation with Fair Value estimates (especially those of Level 3 has been improving recently, and Level 3 estimates can indeed be used in the current financial decision process, but with some level of scepticism.

Business intelligence and decision making tools - New trends on romanian market

Directory of Open Access Journals (Sweden)

Ph.D. Silviu Cojocaru

2012-05-01

Full Text Available Despite the limits imposed by the computer’s impossibility to perfectly duplicate the human reasoning, the information systems that assist decision making and the business intelligence components are considered nowadays compulsory instruments of the modern manager; most of the daily decision procedures, the information required by the decision making process together with the information search and retrieval techniques are taken over completely by these systems. Furthermore, their continuous development, doubled the improvement of computers’ performances, offer increased possibilities to take over major parts of some of the most intense reasoning activities performed by humans

A deep knowledge architecture for intelligent support of nuclear waste transportation decisions

International Nuclear Information System (INIS)

Batra, D.; Bowen, W.M.; Hill, T.R.; Weeks, K.D.

1988-01-01

The concept of intelligent decision support has been discussed and explored in several recent papers, one of which has suggested the use of a Deep Knowledge Architecture. This paper explores this concept through application to a specific decision environment. The complex problems involved in nuclear waste disposal decisions provide an excellent test case. The resulting architecture uses an integrated, multi-level model base to represent the deep knowledge of the problem. Combined with the surface level knowledge represented by the database, the proposed knowledge base complements that of the decision-maker, allowing analysis at a range of levels of decisions which may also occur at a range of levels

Intelligent Information System to support decision making.

Directory of Open Access Journals (Sweden)

Kathrin Rodríguez Llanes

2010-06-01

Full Text Available Making decisions is complicated in a generalized way, the materials and humans resources of the entity we belong to depends on it, such as the fulfillment of its goals. But when the situations are complex, making decisions turns into a very difficult work, due to the great amount of aspects to consider when making the right choice. To make this efficiently the administration must to consult an important volume of information, which generally, is scattered and in any different formats. That’s why appears the need of developing software that crowd together all that information and be capable of, by using powerful search engines and process algorithms improve the good decisions making process. Considering previous explanation, a complete freeware developed product is proposed, this constitutes a generic and multi-platform solution, that using artificial intelligence techniques, specifically the cases based reasoning, gives the possibility to leaders of any institution or organism of making the right choice in any situation.With client-server architecture, this system is consumed from web as a service and it can be perfectly integrated with a management system or the geographic information system to facilitate the business process.

DEVELOPMENT OF DECISION MAKING BY MANAGERS WITH FINANCIAL AND ACCOUNTING INFORMATION

Directory of Open Access Journals (Sweden)

Boghean Florin

2014-07-01

Full Text Available The quality conditioning of an accountant's job corresponds thus with the competitive level in the company. The operationalization of the used specialty language, on the one hand and on the other hand the efficient management of the financial situation acquire a significant role regarding a strategic partnership at the micro and macroeconomic level in business as long as the managerial structures of understanding the economic reality are put in correlation with the accountant's socio-professional training in the firm/concern. Even if the professional accountant is paid by a determined client, which is the final beneficiary of the development service or audit financial statements, the information drawn from these financial statements are used by those who form the public. In this way, the accounting profession is distinguished from the other profession by accepting its responsibility to the public. There are numerous studies on an international level, dealing with various methods of improving the decision making process. The most competitive multinational companies have already considered the opportunities favored by financial adjustments, directed at streamlining the accounting functions and they have also trained professionals in the field of accounting that would successfully perform as business partners, thus assisting the decision making process within the organization. The financial adjustments have become essential for many companies that have thus gained a significant competitive advantage. The plan for improving the efficiency of the financial function is very clear, but the training of the business partners who would provide assistance in making decisions still remains a challenge. The economic perspective on the account reality highlights a pragmatic materialization, at the company’s level, of some specific skills designed to support the important role that the financial situations have. So, the individual significations of the

Benefits of collective intelligence: Swarm intelligent foraging, an ethnographic research

Directory of Open Access Journals (Sweden)

Sivave Mashingaidze

2014-12-01

Full Text Available Wisdom of crowds; bees, colonies of ants, schools of fish, flocks of birds, and fireflies flashing synchronously are all examples of highly coordinated behaviors that emerge from collective, decentralized intelligence. This article is an ethnographic study of swarm intelligence foraging of swarms and the benefits derived from collective decision making. The author used using secondary data analysis to look at the benefits of swarm intelligence in decision making to achieve intended goals. Concepts like combined decision making and consensus were discussed and four principles of swarm intelligence were also discussed viz; coordination, cooperation, deliberation and collaboration. The research found out that collective decision making in swarms is the touchstone of achieving their goals. The research further recommended corporate to adopt collective intelligence for business sustainability.

The effects of normal aging on multiple aspects of financial decision-making

NARCIS (Netherlands)

Bangma, Dorien F.; Fuermaier, Anselm B. M.; Tucha, Lara; Tucha, Oliver; Koerts, Janneke

2017-01-01

Objectives Financial decision-making (FDM) is crucial for independent living. Due to cognitive decline that accompanies normal aging, older adults might have difficulties in some aspects of FDM. However, an improved knowledge, personal experience and affective decision-making, which are also related

The use of emotional intelligence capabilities in clinical reasoning and decision-making: A qualitative, exploratory study.

Science.gov (United States)

Hutchinson, Marie; Hurley, John; Kozlowski, Desirée; Whitehair, Leeann

2018-02-01

To explore clinical nurses' experiences of using emotional intelligence capabilities during clinical reasoning and decision-making. There has been little research exploring whether, or how, nurses employ emotional intelligence (EI) in clinical reasoning and decision-making. Qualitative phase of a larger mixed-methods study. Semistructured qualitative interviews with a purposive sample of registered nurses (n = 12) following EI training and coaching. Constructivist thematic analysis was employed to analyse the narrative transcripts. Three themes emerged: the sensibility to engage EI capabilities in clinical contexts, motivation to actively engage with emotions in clinical decision-making and incorporating emotional and technical perspectives in decision-making. Continuing to separate cognition and emotion in research, theorising and scholarship on clinical reasoning is counterproductive. Understanding more about nurses' use of EI has the potential to improve the calibre of decisions, and the safety and quality of care delivered. © 2017 John Wiley & Sons Ltd.

Communication and the financial decisions made by public authorities

Directory of Open Access Journals (Sweden)

Joanna M. Salachna

2017-12-01

Full Text Available The main purpose of this article is to assess an impact of communication between public authority and a society about financial decision-making by that authority. In this article authors consider “social communication” as a term referring to reliable information sharing about a process of public funds management. In that regard they see it as a mean of implementation of a principle of transparency, which is known in public finance science. The above mentioned purpose of the work is based on crucial problem: what are socio-political area effects (e.g. on financial decisions making or on an active citizenship of providing various information to citizens about a process of collecting and spending public funds. Authors claim that currently in Poland methodology of delivering such information might be inappropriate (incomprehensible from the social addressee’s perspective. This is due to the fact that it causes the process of public authority’s communicating with society is significantly distorted.

Item response theory analysis of the Lichtenberg Financial Decision Screening Scale.

Science.gov (United States)

Teresi, Jeanne A; Ocepek-Welikson, Katja; Lichtenberg, Peter A

2017-01-01

The focus of these analyses was to examine the psychometric properties of the Lichtenberg Financial Decision Screening Scale (LFDSS). The purpose of the screen was to evaluate the decisional abilities and vulnerability to exploitation of older adults. Adults aged 60 and over were interviewed by social, legal, financial, or health services professionals who underwent in-person training on the administration and scoring of the scale. Professionals provided a rating of the decision-making abilities of the older adult. The analytic sample included 213 individuals with an average age of 76.9 (SD = 10.1). The majority (57%) were female. Data were analyzed using item response theory (IRT) methodology. The results supported the unidimensionality of the item set. Several IRT models were tested. Ten ordinal and binary items evidenced a slightly higher reliability estimate (0.85) than other versions and better coverage in terms of the range of reliable measurement across the continuum of financial incapacity.

Enhanced situation awareness and decision making for an intelligent reconfigurable reactor power controller

International Nuclear Information System (INIS)

Kenney, S.J.; Edwards, R.M.

1996-01-01

A Learning Automata based intelligent reconfigurable controller has been adapted for use as a reactor power controller to achieve improved reactor temperature performance. The intelligent reconfigurable controller is capable of enforcing either a classical or an optimal reactor power controller based on control performance feedback. Four control performance evaluation measures: dynamically estimated average quadratic temperature error, power, rod reactivity and rod reactivity rate were developed to provide feedback to the control decision component of the intelligent reconfigurable controller. Fuzzy Logic and Neural Network controllers have been studied for inclusion in the bank of controllers that form the intermediate level of an enhanced intelligent reconfigurable reactor power controller (IRRPC). The increased number of alternatives available to the supervisory level of the IRRPC requires enhanced situation awareness. Additional performance measures have been designed and a method for synthesizing them into a single indication of the overall performance of the currently enforced reactor power controller has been conceptualized. Modification of the reward/penalty scheme implemented in the existing IRRPC to increase the quality of the supervisory level decision process has been studied. The logogen model of human memory (Morton, 1969) and individual controller design information could be used to allocate reward to the most appropriate controller. Methods for allocating supervisory level attention were also studied with the goal of maximizing learning rate

Bitcoin Intelligence – Business Intelligence meets Crypto Currency

Directory of Open Access Journals (Sweden)

Horia Mircea BOTOŞ

2017-10-01

Full Text Available Bitcoin is a decentralized digital currency, which works peer-to-peer without a centralized repository, and is accepted as a form of payment all around the world. The “public ledger”, which registers transactions, is known as the block chain. A conventional ledger records bills and notes which are used by an organization, but in the case of Bitcoin these are simply data “entries” in the Blockchain sequence. Business Intelligence (BI, according to Investpedia, refers to the procedural and technical infrastructure that collect, store and analyses the data produced by a field of activities or by an individual company. BI is meant to take in all the data being generated by a business and present easy to digest performance measures and trends that will inform management decisions. The paper shows the BI steps and procedures that will help a Bitcoin user, owner or broker make the best decision possible in order to maximize their profits and financial security.

Attitudes towards risk in financial decision making

OpenAIRE

Vieira, Pedro Nuno Rino Carreira

2016-01-01

Doutoramento em Gestão Risk and attitudes towards risk play a central role in several areas such as economics and psychology. Interestingly, in economics risk attitudes are addressed under the umbrella of the Utility Theory, while in psychology they are measured by psychometric scales. Risk attitudes in financial decision making are here studied under both approaches with the concern of understanding how they are related. So, I propose a conceptual model that explains risk attitudes, I ...

Impact of personal economic environment and personality factors on individual financial decision making

Directory of Open Access Journals (Sweden)

Susanne ePrinz

2014-03-01

Full Text Available This study on healthy young male students aimed to enlighten the associations between an individual’s financial decision making and surrogate makers for environmental factors covering long-term financial socialization, the current financial security/responsibility, and the personal affinity to financial affairs as represented by parental income, funding situation and field of study. A group of 150 male young healthy students underwent two versions of the Holt and Laury (2002 lottery paradigm (matrix and random sequential version. Their financial decision was mainly driven by the factor ‘source of funding’: students with strict performance control (grants, scholarships had much higher rates of risk aversion (RRA than subjects with support from family (RRAdiff=0.22; p=0.018. Personality scores only modestly affected the outcome. In an ANOVA, however, also the IQ significantly and relevantly contributed to the explanation of variance; the effects of parental income and the personality factors ‘agreeableness’ and ‘openness’ showed moderate to modest – but significant - effects. These findings suggest that environmental factors more than personality factors affect risk aversion.

Creative Accounting and Managerial Decision on Selected Financial Institutions in Nigeria

OpenAIRE

Sunday O. Effiok; Okon E. Eton

2012-01-01

The study was conducted to appraise the impact of creative accounting on managementdecisions of selected companies listed in the Nigerian Stock Exchange. With the background,the main objective of the study includes the examination of the extent to which macromanipulationof financial statement affects management decisions; to examine the extent towhich macro-manipulation of financial statement affects share price performance; and todetermine the impact of misreported assets and liabilities as ...

ASPECTS OF FINANCIAL EQUILIBRIUM ANALYSIS AND ITS IMPLICATIONS IN MANAGEMENT DECISIONS

Directory of Open Access Journals (Sweden)

Daniela Cristina Solomon

2013-12-01

Full Text Available Considering the impact of risk factors in the economic environment, this study provides to all users of financial information a possible pattern for analyzing the financial equilibrium, designed to clarify the importance of dynamic analysis of indicators characterizing the financial equilibrium of an enterprise, expressed on absolute values, especially for managers in decision-making on future work, aimed at achieving pre-established strategic and tactical objectives. Practice has shown that the management cannot be based on intuition and routine but on a scientific analysis, on a thorough knowledge of the existing situation, as well as on the identification of vulnerabilities and opportunities for development. In order to promote a rational policy concerning business growth and achieving economic and financial satisfactory results, the company’s management grants a special importance to the financial diagnosis. The support of financial analysis is the balance sheet that allows developing financial diagnosis on the financial equilibrium conditions and creditworthiness, objectives that allow the evaluation of the independence of the firm and its market value.

A FINANCIAL AND ECONOMIC ACTIVITIES EFFECTIVENESS EVALUATION AS A CONDITION OF CORPORATE MANAGEMENT DECISIONS MAKING

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Nataliia Bieliaieva

2017-09-01

Full Text Available The purpose of the paper is to substantiate, on the real figures, the need for enterprise’s financial and economic activities analysis as a condition of management decisions making to achieve the success of the company. Methodology. The research is based on a comparison and analysis of data from the organization top management. So using matrix analysis in the paper, the financial and economic activities effectiveness is evaluated. Based on these calculations, it is possible to make conclusions about the necessity of an identified management decisions regarding the future activity of the company. Results. Daily managers of various function levels accept hundreds and thousands of decisions regarding seemingly slight problems of the organization in general. At the same time, every such a decision, especially relating to the activity of the whole structure, should be clearly justified. Such a need stems from the fact that every decision leads to certain consequences. If there is a need to make a decision relating to the future of the enterprise (e.g., embodiment, reorganization, etc., it should be based on the data of the entire structure. And that is generally very difficult to do. Many factors complicate the possibility of comprehensive evaluation of the company’s activity. At the same time, analysis of basic indicators will provide the specialist with some directions according to which the priority of the analysis can be indicated and appropriate management decision can be made. Practical implications. It is built an effectiveness matrix of financial and economic activities of the enterprise. Analysis of financial and economic activities makes it possible to design necessary strategic and tactical plan for the enterprise development, revealing its reserves of production efficiency increasing. So the aim of the paper is the assessment of the effectiveness of financial and economic activities of the company on the base of matrix analysis as a

Supporting the personnel reliability decision-making process with artificial intelligence

International Nuclear Information System (INIS)

Harte, D.C.

1991-01-01

Recent legislation concerning personnel security has vastly increased the responsibility and accountability of the security manager. Access authorization, fitness for duty, and personnel security access programs require decisions regarding an individual's trustworthiness and reliability based on the findings of a background investigation. While these guidelines provide significant data and are useful as a tool, limited resources are available to the adjudicator of derogatory information on what is and is not acceptable in terms of granting access to sensitive areas of nuclear plants. The reason why one individual is deemed unacceptable and the next acceptable may be questioned and cause discriminatory accusations. This paper is continuation of discussion on workforce reliability, focusing on the use of artificial intelligence to support the decisions of a security manager. With this support, the benefit of previous decisions helps ensure consistent adjudication of background investigations

Good thinking or gut feeling? Decision-making style and rationality in traders, bankers and financial non-experts

OpenAIRE

Thoma, Volker

2013-01-01

Research in cognitive psychology and behavioural finance has suggested that human decision-making is subject to the use of ‘heuristics’ – simple decision rules that produce systematic biases away from normative decision outcomes (Kahneman, 2003), and that even financial experts may be susceptible to heuristic thinking (e.g., Taleb, 2004).\\ud The current study investigated differences in decision-making style and the susceptibility to heuristics between financial traders, non-trading bank empl...

Business owner and manager’s attitudes towards financial decision-making and strategic planning: Evidence from Croatian SMEs

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Marina Klačmer Čalopa

2017-01-01

Full Text Available The main goal of the paper was to explore the attitude of business owners and managers in the small and medium sized companies (SMEs in Croatia toward financial decision-making and strategic planning. In addition, it is attempted to identify managers’ styles and entrepreneurial skills, as well as the level of their financial knowledge. Data was gathered using online questionnaire method and analyzed with standard tools of descriptive statistics. The research sample consisted of 106 respondents from SMEs in Croatia (14% response rate. Research results reveal that business owners and managers are concerned about financial results but, unfortunately, do not influence the financial decision-making in all of its stages. The study could contribute to a better understanding of attitudes of Croatian SMEs business owners and managers toward financial decision-making and strategic planning.

An Intelligent Fleet Condition-Based Maintenance Decision Making Method Based on Multi-Agent

OpenAIRE

Bo Sun; Qiang Feng; Songjie Li

2012-01-01

According to the demand for condition-based maintenance online decision making among a mission oriented fleet, an intelligent maintenance decision making method based on Multi-agent and heuristic rules is proposed. The process of condition-based maintenance within an aircraft fleet (each containing one or more Line Replaceable Modules) based on multiple maintenance thresholds is analyzed. Then the process is abstracted into a Multi-Agent Model, a 2-layer model structure containing host negoti...

CAUSAL PEER EFFECTS IN FINANCIAL DECISION MAKING

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Ana Njegovanović

2016-03-01

, respectively the display of "peer decisions". This display is exclusively linked to the processing of information as opposed to considering solutions. This is significant because neuroscience is characterized by neural activity that generates new information in decision making. Thus, neural prediction is determined by the ventral striatum, which predicts the occurrence of peer decisions. The large part of the literature in social psychology suggests that people have a direct need to follow others, especially manifested in situations where there is no objectively correct action, so the cause of intermediaries used peer action as a social anchor on which it bases its behavior. Certain dialectical relationship between neuroscience and neurofinance determines a deeper understanding of financial decision making which leads to different results and different cognitive operations. Our thoughts, although abstract in form, determine procedures of certain neural circuits within our brain. The goal of neuroscience is uncovering these circuits and the possibility of deconstructing complex thought processes in individual components and determine how they integrate into our thought process. The results lead towards the understanding of decision making which shape our future and fate. The market implications, from the aspect of neurofinances, is vital in uncovering deeper knowledge about the effect of emotions and states such as attitudes towards risk, excessive trust, heuristic bias and gender, which finally results in financial decision making on an individual and institutional basis. The implications of fear and corruption in the financial industry can be explained through neurofinance and even give us more choices in the decision process. Social decisions demand an evaluation of costs and benefits for oneself and others. Connected with emotions and caution, the amygdala is involved in decision making and social interactions. The harm caused by the amygdala deteriorates social interaction

Trait Emotional Intelligence Is Related to Risk Taking when Adolescents Make Deliberative Decisions

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Angelo Panno

2016-08-01

Full Text Available Most forms of risky behavior reach their peak during adolescence. A prominent line of research is exploring the relationship between people’s emotional self-efficacy and risk taking, but little is known about this relationship in the cognitive-deliberative domain among adolescents. The main aim of the present study consists in investigating whether trait EI (Emotional Intelligence is positively related to risk taking under predominantly cognitive-deliberative conditions among adolescents. Ninety-four adolescents played the cold version of the Columbia Card Task one month following an assessment of their trait EI. Results showed that trait EI is associated with risk taking under cognitive-deliberative conditions among adolescents. Moreover, the present research showed that trait EI is related to risk taking through the decision makers’ self-motivation. These results provide novel insights into research investigating the connections between emotional intelligence, decision science and adolescence research.

A Seasonal Time-Series Model Based on Gene Expression Programming for Predicting Financial Distress.

Science.gov (United States)

Cheng, Ching-Hsue; Chan, Chia-Pang; Yang, Jun-He

2018-01-01

The issue of financial distress prediction plays an important and challenging research topic in the financial field. Currently, there have been many methods for predicting firm bankruptcy and financial crisis, including the artificial intelligence and the traditional statistical methods, and the past studies have shown that the prediction result of the artificial intelligence method is better than the traditional statistical method. Financial statements are quarterly reports; hence, the financial crisis of companies is seasonal time-series data, and the attribute data affecting the financial distress of companies is nonlinear and nonstationary time-series data with fluctuations. Therefore, this study employed the nonlinear attribute selection method to build a nonlinear financial distress prediction model: that is, this paper proposed a novel seasonal time-series gene expression programming model for predicting the financial distress of companies. The proposed model has several advantages including the following: (i) the proposed model is different from the previous models lacking the concept of time series; (ii) the proposed integrated attribute selection method can find the core attributes and reduce high dimensional data; and (iii) the proposed model can generate the rules and mathematical formulas of financial distress for providing references to the investors and decision makers. The result shows that the proposed method is better than the listing classifiers under three criteria; hence, the proposed model has competitive advantages in predicting the financial distress of companies.

The Role of Personality Traits, Core Self-Evaluation, and Emotional Intelligence in Career Decision-Making Difficulties

Science.gov (United States)

Di Fabio, Annamaria; Palazzeschi, Letizia; Bar-On, Reuven

2012-01-01

This study examines the role of personality traits, core self-evaluation, and emotional intelligence (EI) in career decision-making difficulties. Italian university students (N = 232) responded to questions on the Big Five Questionnaire, Core Self-Evaluation Scale, Bar-On Emotional Quotient Inventory, and Career Decision-Making Difficulties…

Prediction of financial crises by means of rough sets and decision trees

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Zuleyka Díaz-Martínez

2011-03-01

Full Text Available This paper tries to further investigate the factors behind a financial crisis. By using a large sample of countries in the period 1981 to 1999, it intends to apply two methods coming from the Artificial Intelligence (Rough Sets theory and C4.5 algorithm and analyze the role of a set of macroeconomic and financial variables in explaining banking crises. These variables are both quantitative and qualitative. These methods do not require variables or data used to satisfy any assumptions. Statistical methods traditionally employed call for the explicative variables to satisfy statistical assumptions which is quite difficult to happen. This fact complicates the analysis. We obtained good results based on the classification accuracies (80% of correctly classified countries from an independent sample, which proves the suitability of both methods.

Heuristic decision model for intelligent nuclear power systems design

International Nuclear Information System (INIS)

Nassersharif, B.; Portal, M.G.; Gaeta, M.J.

1989-01-01

The objective of this project was to investigate intelligent nuclear power systems design. A theoretical model of the design process has been developed. A fundamental process in this model is the heuristic decision making for design (i.e., selection of methods, components, materials, etc.). Rule-based expert systems do not provide the completeness that is necessary to generate good design. A new method, based on the fuzzy set theory, has been developed and is presented here. A feedwater system knowledge base (KB) was developed for a prototype software experiment to benchmark the theory

Knowledge-based dialogue in Intelligent Decision Support Systems

International Nuclear Information System (INIS)

Hollnagel, E.

1987-01-01

The overall goal for the design of Intelligent Decision Support Systems (IDSS) is to enhance understanding of the process under all operating conditions. For an IDSS to be effective, it must: select or generate the right information; produce reliable and consistent information; allow flexible and effective operator interaction; relate information presentation to current plant status and problems; and make the presentation at the right time. Several ongoing R and D programs try to design and build IDSSs. A particular example is the ESPRIT project Graphics and Knowledge Based Diaglogue for Dynamic Systems (GRADIENT). This project, the problems it addresses, and its uses, are discussed here

Improving trading saystems using the RSI financial indicator and neural networks.

OpenAIRE

Rodríguez-González, Alejandro; Guldrís-Iglesias, Fernando; Colomo-Palacios, Ricardo; Gómez-Berbís, Juan Miguel; Jiménez-Domingo, Enrique; Alor-Hernández, Giner; Posada-Gomez, Rubén; Cortes-Robles, Guillermo

2010-01-01

Proceedings of: 11th International Workshop on Knowledge Management and Acquisition for Smart Systems and Services (PKAW 2010), 20 August-3 September 2010, Daegu (Korea) Trading and Stock Behavioral Analysis Systems require efficient Artificial Intelligence techniques for analyzing Large Financial Datasets (LFD) and have become in the current economic landscape a significant challenge for multi-disciplinary research. Particularly, Trading-oriented Decision Support Systems based on the C...

How to Improve Artificial Intelligence through Web

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Adrian LUPASC

2005-10-01

Full Text Available Intelligent agents, intelligent software applications and artificial intelligent applications from artificial intelligence service providers maymake their way onto the Web in greater number as adaptive software, dynamic programming languages and Learning Algorithms are introduced intoWeb Services. The evolution of Web architecture may allow intelligent applications to run directly on the Web by introducing XML, RDF and logiclayer. The Intelligent Wireless Web’s significant potential for rapidly completing information transactions may take an important contribution toglobal worker productivity. Artificial intelligence can be defined as the study of the ways in which computers can be made to perform cognitivetasks. Examples of such tasks include understanding natural language statements, recognizing visual patterns or scenes, diagnosing diseases orillnesses, solving mathematical problems, performing financial analyses, learning new procedures for solving problems. The term expert system canbe considered to be a particular type of knowledge-based system. An expert system is a system in which the knowledge is deliberately represented“as it is”. Expert systems are applications that make decisions in real-life situations that would otherwise be performed by a human expert. They areprograms designed to mimic human performance at specialized, constrained problem-solving tasks. They are constructed as a collection of IF-THENproduction rules combined with a reasoning engine that applies those rules, either in a forward or backward direction, to specific problems.

Exploring the moderating effect of social intelligence on the relationship between entrepreneurial decision-making strategy and SME sustainable performance

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Muhd Yusuf Dayang Hasliza

2018-01-01

Full Text Available The study reveals that causation, rather than effectuation, decision-making strategy is a more significant predictor of sustainable performance of SMEs. However, social intelligence was not found to be a significant moderator of entrepreneurial decision-making-sustainable performance relationship. The study uses data from a survey among 91 technology-based SMEs (TBS in Malaysia and employs structural equation modelling techniques for data analysis. A new instrument to measure all three variables of entrepreneurial decision-making strategy, social intelligence, and venture performance is proposed based on adoption and adaptation of existing validated scales available in literature.

Decision-making, financial risk aversion, and behavioral biases: The role of testosterone and stress.

Science.gov (United States)

Nofsinger, John R; Patterson, Fernando M; Shank, Corey A

2018-05-01

We examine the relation between testosterone, cortisol, and financial decisions in a sample of naïve investors. We find that testosterone level is positively related to excess risk-taking, whereas cortisol level is negatively related to excess risk-taking (correlation coefficient [r]: 0.75 and -0.21, respectively). Additionally, we find support for the dual-hormone hypothesis in a financial context. Specifically, the testosterone-to-cortisol ratio is significantly related to loss aversion. Individuals with a higher ratio are 3.4 times more likely to sell losing stocks (standard error [SE]: 1.63). Furthermore, we find a positive feedback loop between financial success, testosterone, and cortisol. Specifically, financial success is significantly related to higher post-trial testosterone and cortisol by a factor of 0.53 (SE: 0.14). Finally, we find that in a competitive environment, testosterone level increases significantly, leading to greater risk-taking than in noncompetitive environment. Overall, this study underscores the importance of the endocrine system on financial decision-making. The results of this study are relevant to a broad audience, including investors looking to optimize financial performance, industry human resources, market regulators, and researchers. Copyright © 2018 Elsevier B.V. All rights reserved.

Modelling Financial-Accounting Decisions by Means of OLAP Tools

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Diana Elena CODREAN

2011-03-01

Full Text Available At present, one can say that a company’s good running largely depends on the information quantity and quality it relies on when making decisions. The information needed to underlie decisions and be obtained due to the existence of a high-performing information system which makes it possible for the data to be shown quickly, synthetically and truly, also providing the opportunity for complex analyses and predictions. In such circumstances, computerized accounting systems, too, have grown their complexity by means of data analyzing information solutions such as OLAP and Data Mining which help perform a multidimensional analysis of financial-accounting data, potential frauds can be detected and data hidden information can be revealed, trends for certain indicators can be set up, therefore ensuring useful information to a company’s decision making.

REXS : A financial risk diagnostic expert system

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W. Richter

2012-01-01

Full Text Available

ENGLISH ABSTRACT: Artificial intelligence techniques are rapidly emerging as important contributors to more effective management. One of the greatest growth areas probably lies in the use of Expert System methodology for supporting managerial decision processes.
Existing Decision Support Systems often attempt to apply analytical techniques in combination with traditional data access and retrieval functions. One of the problems usually encountered while developing such decision support systems is the need to transform an unstructured problem environment into a structured analytical model. Using an expert system approach to strategic decision making in such unstructured problem environments may provide significant advantages.
The financial Risk diagnostic EXpert System (REXS concentrates on Financial Risk Analysis. Based on a Forecasting Model the system will, with the support of several expert system knowledge bases, attempt to evaluate the financial risk of a business and provide guidelines for improvement.

AFRIKAANSE OPSOMMING: Tegnieke gebaseer op Kunsmatige Intelligensie toon tans die belofte om belangrike bydraes te maak tot meerBestaande Besluitsteunstelsels poog dikwels om analitiese tegnieke en lradisionele datatoegang- en onttrekkingsfunksies te kombineer. Een van die probleme wat gewoonlik ondervind word gedurende die ontwikkeling van '0 besluitsteunstelsel bestaan uit die behoefte om 'n ongestruktueerde probleemomgewing te transformeer na 'n gestruktueerde analitiese model. 'n Ekspertstelselbenadering lot strategiese besluitneming in 'n ongeSlruktureerde probleemomgewing mag betekenisvolle voordele inhou.
Die "financial Risk diagnostic EXpert System (REXS" konsentreer op fmansiele risiko-analise. Uitgaande vanaf 'n Vooruitskattingsmode~ en deur gebruik te maak van verskeie ekspertstelselkennisbasisse, poog die stelsel om die fmansiele risiko van 'n onderneming te evalueer en riglyne vir moontlike verbetering

The financial management as a tool for development investment decision

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Damnjanović Radovan M.

2017-01-01

Full Text Available Investment decisions, which influence the investment of financial resources to achieve economic, non-economic, or of both objectives and effects in the future, the central subject of financial management. Using the methods of financial mathematics can predict the effects of the investment which is from the standpoint of efficiency ratings are expressed in the form of cash future income. Periods, the investments and the use of investment, may be the same or different lengths. From an economic standpoint it is desirable that the period of the investment is short, and the economic effects of the eyelids investments as long as possible. For an investment is said to be cost-effective or cost-effective if the current value of the investment is less than the present value of income from investments.

Improving societal acceptance of rad waste management policy decisions: an approach based on complex intelligence

International Nuclear Information System (INIS)

Rao, Suman

2008-01-01

In today's context elaborate public participation exercises are conducted around the world to elicit and incorporate societal risk perceptions into nuclear policy Decision-Making. However, on many occasions, such as in the case of rad waste management, the society remains unconvinced about these decisions. This naturally leads to the questions: are techniques for incorporating societal risk perceptions into the rad waste policy decision making processes sufficiently mature? How could societal risk perceptions and legal normative principles be better integrated in order to render the decisions more equitable and convincing to society? Based on guidance from socio-psychological research this paper postulates that a critical factor for gaining/improving societal acceptance is the quality and adequacy of criteria for option evaluation that are used in the policy decision making. After surveying three rad waste public participation cases, the paper identifies key lacunae in criteria abstraction processes as currently practiced. A new policy decision support model CIRDA: Complex Intelligent Risk Discourse Abstraction model that is based on the heuristic of Risk-Risk Analysis is proposed to overcome these lacunae. CIRDA's functionality of rad waste policy decision making is modelled as a policy decision-making Abstract Intelligent Agent and the agent program/abstraction mappings are presented. CIRDA is then applied to a live (U.K.) rad waste management case and the advantages of this method as compared to the Value Tree Method as practiced in the GB case are demonstrated. (author)

BUSINESS INTELLIGENCE IN DECISION MAKING ON THE LABOR MARKET OF THE REPUBLIC OF MOLDOVA

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Galina GLOBA

2013-12-01

Full Text Available Implementation of the business intelligence concept is enabling new opportunities for the labor market research and management. Labor market intelligence means a competent decision making process in the labor market. Such process should be based on the comprehensive set of analytical technologies and tools. The analysis of online information available at websites of state organizations working in the labor market of the Republic of Moldova has shown that many them are still at the very beginning of the effective data using.

FACTORS AFFECTING FINANCIAL CONSUMERS’ PRIVATE PENSION PLAN DECISIONS: A LITERATURE REVIEW AND A CONCEPTUAL FRAMEWORK PROPOSAL

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Aslı Elif Aydın

2016-08-01

Full Text Available The objective of this study is to propose a framework related to financial consumers’ private pension plan decisions. Specifically, we review the factors affecting consumers’ participation, contribution and asset allocation decisions regarding private pensions. The factors discussed include situational and dispositional factors, personality, motivation, financial literacy, and external influences. Based on this survey of literature, we develop a number of propositions, which are expected to benefit individual retirement planners and pension institutions in gaining a better understanding of retirement saving decisions.

Identifying foreign terrorist fighters: The Role of Public-Private Partnership, Information Sharing and Financial Intelligence

Directory of Open Access Journals (Sweden)

Tom Keatinge

2015-07-01

phenomenon. This Research Paper, by contrast, considers another source of data that could inform this analysis, namely the financial intelligence (FININT generated by the huge quantities of transaction data gathered by the financial-services industry as it processes bank transfers, ATM withdrawals and credit-card transactions. It asks what barriers exist to greater partnership and information sharing between the security authorities and the financial-services industry in tackling terrorism. And whether, within the parameters of acceptable data-privacy restrictions, an intelligent and intelligence-led relationship between the security authorities and the financial-services industry could provide greater and more timely insight into which individuals are travelling to Syria or are already in-country, and (perhaps most importantly who, having been exposed to the extremist ideology espoused by groups such Daesh, has returned home. The lack of partnership and information sharing between the public and private sectors is dramatically hindering the valuable role banks could play in assisting in disrupting terrorism. Advances in technology and transaction-monitoring systems have immeasurably improved the capabilities of banks and other financial institutions, such as large-scale remittance companies, to play the front-line role that is required of them by the authorities. The security threat posed by FTFs – and the apparent struggle faced by national security authorities in identifying and tracking such individuals – provides an ideal and timely platform from which to discuss the role that banks can play in countering terrorist threats, which requires urgent re-evaluation and enhancement. The FTF phenomenon has caught security authorities across the globe off guard. Authorities in many Western capitals only awoke, belatedly, to the threat once many hundreds of their citizens had made the journey to Syria and had begun openly to promote their actions via social media. Significant

FINANCIAL INDICATORS IN MANAGERIAL DECISION-MAKING

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Fenyves Veronika

2014-07-01

Full Text Available Working capital is crucial to determine the short-term financial position of a given company. Significant changes in working capital provide important information to the stakeholders. Working capital analysis is one of the methods of credit rating and it can also help to better understand the business cycle of a given company. One of the key elements of working capital management is liquidity management, that is, to maintain a company’s ability to pay continuously, because in the short-term, it ensures the company to stay afloat, and justifies its progress on the long-term. Decision makers are in need of such indicators and interrelations that can help precisely assessing the real situation and recognise problems of funding in time. Achieving this goal is a very complex task because the use of several indicators and perspectives are necessary to measure liquidity. For this, companies have to develop management and organizational structures that provide an adequate framework to measure and follow up liquidity. To facilitate this, the study draws attention to interrelations that anticipate the actual liquidity position of a company more precisely. Generally, liquidity indicators are being used to measure a company’s ability to pay, but those do not sufficiently take into account for how long different components are tied up during the operation. Adjusted liquidity indicators can be calculated to solve these problems as these include the time an asset is in the operating cycle in the case of current assets and short-term liabilities. At the same time, these days the continuous monitoring and analysis of operational data has become essential, too. The database which has been created as a result of the annual financial statement reporting obligation that was introduced by the Act C in 2000 can be used to analyse company data on a yearly basis. However, in case we would like to examine the changes of these indicators continuously during the

Modelling financial risk in open pit mine projects: Implications for strategic decision-making

OpenAIRE

Abdel Sabour, S.A.; Wood, G.

2009-01-01

Strategic decisions in the mining industry are made under multiple technical and market uncertainties. Therefore, to reach the best possible decision, based on information available, it is necessary to integrate uncertainty about the input variables and model financial risk of the project's merit measures. However, this rovides few useful insights to decision-makers unless accompanied by modeling management responses to uncertainty resolutions. It is widely acknowledged that conventional deci...

The Relationship of Business Intelligence Systems to Organizational Performance Benefits: A Structural Equation Modeling of Management Decision Making

Science.gov (United States)

Sparks, Betsy H.

2014-01-01

Business Intelligence is a major expenditure in many organizations and necessary for competitive advantage. These expenditures do not result in maximum benefits for the organization if the information obtained from the Business Intelligence System (BIS) is not used in the management decision-making process. This quantitative research study used an…

A Seasonal Time-Series Model Based on Gene Expression Programming for Predicting Financial Distress

Science.gov (United States)

2018-01-01

The issue of financial distress prediction plays an important and challenging research topic in the financial field. Currently, there have been many methods for predicting firm bankruptcy and financial crisis, including the artificial intelligence and the traditional statistical methods, and the past studies have shown that the prediction result of the artificial intelligence method is better than the traditional statistical method. Financial statements are quarterly reports; hence, the financial crisis of companies is seasonal time-series data, and the attribute data affecting the financial distress of companies is nonlinear and nonstationary time-series data with fluctuations. Therefore, this study employed the nonlinear attribute selection method to build a nonlinear financial distress prediction model: that is, this paper proposed a novel seasonal time-series gene expression programming model for predicting the financial distress of companies. The proposed model has several advantages including the following: (i) the proposed model is different from the previous models lacking the concept of time series; (ii) the proposed integrated attribute selection method can find the core attributes and reduce high dimensional data; and (iii) the proposed model can generate the rules and mathematical formulas of financial distress for providing references to the investors and decision makers. The result shows that the proposed method is better than the listing classifiers under three criteria; hence, the proposed model has competitive advantages in predicting the financial distress of companies. PMID:29765399

A Seasonal Time-Series Model Based on Gene Expression Programming for Predicting Financial Distress

Directory of Open Access Journals (Sweden)

Ching-Hsue Cheng

2018-01-01

Full Text Available The issue of financial distress prediction plays an important and challenging research topic in the financial field. Currently, there have been many methods for predicting firm bankruptcy and financial crisis, including the artificial intelligence and the traditional statistical methods, and the past studies have shown that the prediction result of the artificial intelligence method is better than the traditional statistical method. Financial statements are quarterly reports; hence, the financial crisis of companies is seasonal time-series data, and the attribute data affecting the financial distress of companies is nonlinear and nonstationary time-series data with fluctuations. Therefore, this study employed the nonlinear attribute selection method to build a nonlinear financial distress prediction model: that is, this paper proposed a novel seasonal time-series gene expression programming model for predicting the financial distress of companies. The proposed model has several advantages including the following: (i the proposed model is different from the previous models lacking the concept of time series; (ii the proposed integrated attribute selection method can find the core attributes and reduce high dimensional data; and (iii the proposed model can generate the rules and mathematical formulas of financial distress for providing references to the investors and decision makers. The result shows that the proposed method is better than the listing classifiers under three criteria; hence, the proposed model has competitive advantages in predicting the financial distress of companies.

Leveraging business intelligence to make better decisions: Part II.

Science.gov (United States)

Reimers, Mona

2014-01-01

This article is the second in a series about business intelligence (BI) in a medical practice. The first article reviewed the evolution of data reporting within the industry and provided some examples of how BI concepts differ from the reports available in the menus of our software systems, or the dashboards and scorecards practices have implemented. This article will discuss how to begin a BI initiative for front-end medical practice staffers that will create tools they can use to reduce errors and increase efficiency throughout their workday. This type of BI rollout can allow practices to get started with very little financial investment, gain enthusiasm from end users, and achieve a quick return on investment. More examples of successful BI projects in medical practices are discussed to help illustrate BI concepts.

A mediation model to explain decision making under conditions of risk among adolescents: the role of fluid intelligence and probabilistic reasoning.

Science.gov (United States)

Donati, Maria Anna; Panno, Angelo; Chiesi, Francesca; Primi, Caterina

2014-01-01

This study tested the mediating role of probabilistic reasoning ability in the relationship between fluid intelligence and advantageous decision making among adolescents in explicit situations of risk--that is, in contexts in which information on the choice options (gains, losses, and probabilities) were explicitly presented at the beginning of the task. Participants were 282 adolescents attending high school (77% males, mean age = 17.3 years). We first measured fluid intelligence and probabilistic reasoning ability. Then, to measure decision making under explicit conditions of risk, participants performed the Game of Dice Task, in which they have to decide among different alternatives that are explicitly linked to a specific amount of gain or loss and have obvious winning probabilities that are stable over time. Analyses showed a significant positive indirect effect of fluid intelligence on advantageous decision making through probabilistic reasoning ability that acted as a mediator. Specifically, fluid intelligence may enhance ability to reason in probabilistic terms, which in turn increases the likelihood of advantageous choices when adolescents are confronted with an explicit decisional context. Findings show that in experimental paradigm settings, adolescents are able to make advantageous decisions using cognitive abilities when faced with decisions under explicit risky conditions. This study suggests that interventions designed to promote probabilistic reasoning, for example by incrementing the mathematical prerequisites necessary to reason in probabilistic terms, may have a positive effect on adolescents' decision-making abilities.

Business Intelligence from User Generated Content: Online Opinion Formation in Purchasing Decisions in High-Tech Markets

OpenAIRE

Setiya , Karan; Ubacht , Jolien; Cunningham , Scott; Oruç , Sertaç

2016-01-01

Part 6: Data Acquisition, Management and Analytics; International audience; User Generated Content (UGC) requires new business intelligence methods to understand the influence of online opinion formation on customer purchasing decisions. We developed a conceptual model for deriving business intelligence from tweets, based on the Classical Model of Consensus Formation and the Theory of Planned Behaviour. We applied the model to the dynamic high-tech smartphone market by means of three case stu...

The usefulness of financial reporting for internal decision-making in portuguese municipalities

OpenAIRE

Nogueira, Sónia P.; Jorge, Susana M.; Cervera Oliver, Mercedes

2013-01-01

The purpose of this paper is to analyse the perception of internal users regarding the usefulness of municipal financial reporting in the context of decision-making in Portuguese Local Administration. This research is quantitative and positive, based on a cross-section analysis through online application of a questionnaire to decision-makers (politicians and technicians) of the 308 Portuguese municipalities. The approach is based on the information usefulness paradigm. Results indicate a...

A hybrid approach of stepwise regression, logistic regression, support vector machine, and decision tree for forecasting fraudulent financial statements.

Science.gov (United States)

Chen, Suduan; Goo, Yeong-Jia James; Shen, Zone-De

2014-01-01

As the fraudulent financial statement of an enterprise is increasingly serious with each passing day, establishing a valid forecasting fraudulent financial statement model of an enterprise has become an important question for academic research and financial practice. After screening the important variables using the stepwise regression, the study also matches the logistic regression, support vector machine, and decision tree to construct the classification models to make a comparison. The study adopts financial and nonfinancial variables to assist in establishment of the forecasting fraudulent financial statement model. Research objects are the companies to which the fraudulent and nonfraudulent financial statement happened between years 1998 to 2012. The findings are that financial and nonfinancial information are effectively used to distinguish the fraudulent financial statement, and decision tree C5.0 has the best classification effect 85.71%.

Integrated Multimedia Based Intelligent Group Decision Support System for Electrical Power Network

OpenAIRE

Ajay Kumar Saxena; S. 0. Bhatnagar; P. K Saxena

2002-01-01

Electrical Power Network in recent time requires an intelligent, virtual environment based decision process for the coordination of all its individual elements and the interrelated tasks. Its ultimate goal is to achieve maximum productivity and efficiency through the efficient and effective application of generation, transmission, distribution, pricing and regulatory systems. However, the complexity of electrical power network and the presence of conflicting multiple goals and objectives p...

Intelligent decision aids for abnormal events in nuclear power plants

International Nuclear Information System (INIS)

Kafka, P.; Polke, H.

1988-01-01

German nuclear power plants are characterized by a high degree of automation, not only for normal operation but also for abnormal events. Therefore the role of the operating personnel is mainly a supervisory function. Nevertheless, for a spectrum of unexpected events the operating personnel have to react with manual recovery actions. In order to minimize human error in such recovery actions, different kinds of intelligent decision aid support the operators today. In this paper such aids are discussed and one of them is described in more detail. (author)

Autonomous Driver Based on an Intelligent System of Decision-Making.

Science.gov (United States)

Czubenko, Michał; Kowalczuk, Zdzisław; Ordys, Andrew

The paper presents and discusses a system ( xDriver ) which uses an Intelligent System of Decision-making (ISD) for the task of car driving. The principal subject is the implementation, simulation and testing of the ISD system described earlier in our publications (Kowalczuk and Czubenko in artificial intelligence and soft computing lecture notes in computer science, lecture notes in artificial intelligence, Springer, Berlin, 2010, 2010, In Int J Appl Math Comput Sci 21(4):621-635, 2011, In Pomiary Autom Robot 2(17):60-5, 2013) for the task of autonomous driving. The design of the whole ISD system is a result of a thorough modelling of human psychology based on an extensive literature study. Concepts somehow similar to the ISD system can be found in the literature (Muhlestein in Cognit Comput 5(1):99-105, 2012; Wiggins in Cognit Comput 4(3):306-319, 2012), but there are no reports of a system which would model the human psychology for the purpose of autonomously driving a car. The paper describes assumptions for simulation, the set of needs and reactions (characterizing the ISD system), the road model and the vehicle model, as well as presents some results of simulation. It proves that the xDriver system may behave on the road as a very inexperienced driver.

Occupy the Financial Niche – Saturation and Crisis (discontinuous decisions

Directory of Open Access Journals (Sweden)

Ionut PURICA

2014-09-01

Full Text Available The model presented is proposing an approach that could verify the nonlinear behaviour during a crisis, such that to quantify and predict potential discontinuous behaviour. In this case, the crisis behaviour associated with financial funds reallocation among various credit instruments, described as memes with the sense of Dawkins, is shown to be of discontinuous nature stemming from a logistic penetration in the financial behaviour niche. Actually the logistic penetration is typical in creating cyclic behaviour of economic structures as shown by Marchetti and others from IIASA. A Fokker-Planck equation description results in a stationary solution having a bifurcation like solution with evolution trajectories on a ‘cusp’ type catastrophe that may describe discontinuous decision behaviour

A Hybrid Approach of Stepwise Regression, Logistic Regression, Support Vector Machine, and Decision Tree for Forecasting Fraudulent Financial Statements

Directory of Open Access Journals (Sweden)

Suduan Chen

2014-01-01

Full Text Available As the fraudulent financial statement of an enterprise is increasingly serious with each passing day, establishing a valid forecasting fraudulent financial statement model of an enterprise has become an important question for academic research and financial practice. After screening the important variables using the stepwise regression, the study also matches the logistic regression, support vector machine, and decision tree to construct the classification models to make a comparison. The study adopts financial and nonfinancial variables to assist in establishment of the forecasting fraudulent financial statement model. Research objects are the companies to which the fraudulent and nonfraudulent financial statement happened between years 1998 to 2012. The findings are that financial and nonfinancial information are effectively used to distinguish the fraudulent financial statement, and decision tree C5.0 has the best classification effect 85.71%.

Advances in intelligent analysis of medical data and decision support systems

CERN Document Server

Iantovics, Barna

2013-01-01

This volume is a result of the fruitful and vivid discussions during the MedDecSup'2012 International Workshop bringing together a relevant body of knowledge, and new developments in the increasingly important field of medical informatics. This carefully edited book presents new ideas aimed at the development of intelligent processing of various kinds of medical information and the perfection of the contemporary computer systems for medical decision support. The book presents advances of the medical information systems for intelligent archiving, processing, analysis and search-by-content which will improve the quality of the medical services for every patient and of the global healthcare system. The book combines in a synergistic way theoretical developments with the practicability of the approaches developed and presents the last developments and achievements in  medical informatics to a broad range of readers: engineers, mathematicians, physicians, and PhD students.

Increases in Emotional Intelligence After an Online Training Program Are Associated With Better Decision-Making on the Iowa Gambling Task.

Science.gov (United States)

Alkozei, Anna; Smith, Ryan; Demers, Lauren A; Weber, Mareen; Berryhill, Sarah M; Killgore, William D S

2018-01-01

Higher levels of emotional intelligence have been associated with better inter and intrapersonal functioning. In the present study, 59 healthy men and women were randomized into either a three-week online training program targeted to improve emotional intelligence ( n = 29), or a placebo control training program targeted to improve awareness of nonemotional aspects of the environment ( n = 30). Compared to placebo, participants in the emotional intelligence training group showed increased performance on the total emotional intelligence score of the Mayer-Salovey-Caruso Emotional Intelligence Test, a performance measure of emotional intelligence, as well as subscales of perceiving emotions and facilitating thought. Moreover, after emotional intelligence training, but not after placebo training, individuals displayed the ability to arrive at optimal performance faster (i.e., they showed a faster learning rate) during an emotion-guided decision-making task (i.e., the Iowa Gambling Task). More specifically, although both groups showed similar performance at the start of the Iowa Gambling Task from pre- to posttraining, the participants in the emotional intelligence training group learned to choose more advantageous than disadvantageous decks than those in the placebo training group by the time they reached the "hunch" period of the task (i.e., the point in the task when implicit task learning is thought to have occurred). Greater total improvements in performance on the Iowa Gambling Task from pre- to posttraining in the emotional intelligence training group were also positively correlated with pre- to posttraining changes in Mayer-Salovey-Caruso Emotional Intelligence Test scores, in particular with changes in the ability to perceive emotions. The present study provides preliminary evidence that emotional intelligence can be trained with the help of an online training program targeted at adults; it also suggests that changes in emotional intelligence, as a

An Intelligent Fleet Condition-Based Maintenance Decision Making Method Based on Multi-Agent

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Bo Sun

2012-01-01

Full Text Available According to the demand for condition-based maintenance online decision making among a mission oriented fleet, an intelligent maintenance decision making method based on Multi-agent and heuristic rules is proposed. The process of condition-based maintenance within an aircraft fleet (each containing one or more Line Replaceable Modules based on multiple maintenance thresholds is analyzed. Then the process is abstracted into a Multi-Agent Model, a 2-layer model structure containing host negotiation and independent negotiation is established, and the heuristic rules applied to global and local maintenance decision making is proposed. Based on Contract Net Protocol and the heuristic rules, the maintenance decision making algorithm is put forward. Finally, a fleet consisting of 10 aircrafts on a 3-wave continuous mission is illustrated to verify this method. Simulation results indicate that this method can improve the availability of the fleet, meet mission demands, rationalize the utilization of support resources and provide support for online maintenance decision making among a mission oriented fleet.

The application of financial options theory to electric utility decision making in integrated resource planning and maintenance shutdowns

International Nuclear Information System (INIS)

Felder, F.

1995-01-01

Increased competition in wholesale power generation will allow electric utilities to use financial models to improve their decision making. This competition will result in the creation of electricity spot, futures, and forward markets, which will provide necessary information for utility executives to used advance financial tools, such as random walk models and options theory. These models will allow executives to place a value on risk. Once this value is known, executives can determine how best to manage that risk, whether by entering into financial transactions, adjusting their operational and planning decisions, or both

Explanatory factors for the use of the financial report in decision-making: Evidence from Local Government in Portugal

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Sónia Paula S. Nogueira

2016-07-01

Two important implications of this study are the following: first, professional bodies and the financial situation in the country; while stimulating informational needs by internal users in the public sector they determine the usefulness they offer to financial reporting for decision-making. Second, the lack of knowledge of the accounting information system, especially by local politicians, is a hindering factor of the usefulness given to financial reporting for internal decision-making. Nowadays, when many countries are considering reforms of public sector accounting in line with the International Public Sector Accounting Standards (IPSAS, supposedly increasing the sophistication, the level of information and usefulness of financial reporting, such factors must be taken into account.

Understanding the use of strategic intelligence as a strategic management tool in the long-term insurance industry in South Africa

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René Pellissier

2011-10-01

The paper obtained the qualitative views and opinions of strategic decision makers, on an executive managerial level within the South African long-term insurance industry, on their organisations use of strategic intelligence. It was found that there are marked differences in the conformity and usage of strategic intelligence and its components between the organisations surveyed, with a measurable difference between large and small organisations. It is, however, generally viewed that the use of a strategic intelligence framework could greatly enhance decision-making. Data collection for the research undertaken was limited to the 82 long-term insurance companies, which were registered with the South African Financial Services Board. More specifically the focus was on the organisations listed on the Johannesburg Securities Exchange within the Life Assurance sector, within which a final response rate of 36.1% was achieved, including the 100% response rate from the six listed organisations. By understanding the extent to which strategic intelligence is utilised in the South African longterminsurance industry, and the benefits or problems that are experienced by implementing and using strategic intelligence as an input to the strategic management process we can comprehend the value that strategic intelligence adds in the decision making process. The originality of this work concludes in the identification and utilisation of the most important factors of a strategic intelligence framework that will greatly enhance global corporate decisionmakingand result in competitive advantage and constant innovation within the South African business environment.

FINANCIAL STATEMENT UTILIZATION DURING DECISION MAKING PROCESS IN SMEs: A COMPARATIVE STUDY ON EUROPEAN AND TURKISH MANAGERS

OpenAIRE

İbicioğlu, Hasan; Kocabıyık, Turan; Dalğar, Hüseyin

2014-01-01

This study examines financial information requirement for decision making in small and medium sized enterprises. 131 SME managers’ responses were collected from Turkey and 8 different European countries. According to both Turkish and European managers, financial statements are mostly important to foresee the probable liquidity and financial crisis. And they find experience more important than financial statement data. A comparative analysis of Turkish and European SME managers is stated. Smal...

Developed Model for Debts Relief Decision Based on Financial and Accounting Reports Applied on PORT TRANS EUROPE SA

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Riana Iren RADU

2013-12-01

Full Text Available Business agents are today facing with a dynamic economic environment transformed by the direct effects of the economic crisis. In these circumstances the managers of the entities are forced to adapt to the economic activities by various types of decisions. A special attention is paid to financial decisions. Financial issues touch all aspects of economic life of an agent. In this context are fitting the management of debts. Management of debts problem can be addressed through a decision-making model. In this paper we propose the development of a multidimensional decision to be strengthened the management of debts of PORT TRANS EUROPE SA, in order to reduce them.

The Risks of Strategic Decisions in the Sphere of Financial and Economic Security of Public-Private Partnership

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Solodovnik Olesia O.

2017-06-01

Full Text Available The article is aimed at studying and substantiating the theoretical and methodological aspects of development, analysis and assessment of strategic decisions in the sphere of financial and economic security of public-private partnership (PPP in the context of the risks of their implementation. A study on the essence and characteristics of strategic decisions in the sphere of financial and economic security of PPP has led to the conclusion that each such decision should be considered and assessed in the context of the risks of its implementation, and the risk theory could be seen as the scientific basis for defining strategic alternatives and developing a criteria base for assessing them. The article proposes a list and systematization of the PPP risks that allow to: itemize the risks to the external and internal environment of PPP and to identify the prerequisites and sources of threats to the financial and economic interests of parties to the partnership; analyze and evaluate the strategic alternatives for risk distribution among partners in the context of implications for financial and economic security of PPP; determine the risks of achieving the objectives of the strategy for financial and economic security of PPP and to evaluate alternative strategies in terms of partners; account the potential occurrence and development of systemic risks and threats to the financial and economic security of PPP, as well as the use of complementary protective mechanisms; evaluate the results of a strategy to protect the financial and economic interests of parties to the PPP.

Presenting practice financial information.

Science.gov (United States)

Webster, Lee Ann H

2007-01-01

Medical practice leadership teams, often consisting primarily of physicians with limited financial backgrounds, must make important business decisions and continuously monitor practice operations. In order to competently perform this duty, they need financial reports that are relevant and easy to understand. This article explores financial reporting and decision-making in a physician practice. It discusses reports and tools, such as ratios, graphs, and comparisons, that practices typically include in their reports. Because profitability and cash flow are often the most important financial considerations for physician practices, reports should generally focus on the impact of various activities and potential decisions upon these concerns. This article also provides communication tips for both those presenting practice financial information and those making the decisions. By communicating effectively, these leaders can best use financial information to improve decision-making and maximize financial performance.

Artificial intelligence in cardiology

OpenAIRE

Bonderman, Diana

2017-01-01

Summary Decision-making is complex in modern medicine and should ideally be based on available data, structured knowledge and proper interpretation in the context of an individual patient. Automated algorithms, also termed artificial intelligence that are able to extract meaningful patterns from data collections and build decisions upon identified patterns may be useful assistants in clinical decision-making processes. In this article, artificial intelligence-based studies in clinical cardiol...

Development of hybrid artificial intelligent based handover decision algorithm

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A.M. Aibinu

2017-04-01

Full Text Available The possibility of seamless handover remains a mirage despite the plethora of existing handover algorithms. The underlying factor responsible for this has been traced to the Handover decision module in the Handover process. Hence, in this paper, the development of novel hybrid artificial intelligent handover decision algorithm has been developed. The developed model is made up of hybrid of Artificial Neural Network (ANN based prediction model and Fuzzy Logic. On accessing the network, the Received Signal Strength (RSS was acquired over a period of time to form a time series data. The data was then fed to the newly proposed k-step ahead ANN-based RSS prediction system for estimation of prediction model coefficients. The synaptic weights and adaptive coefficients of the trained ANN was then used to compute the k-step ahead ANN based RSS prediction model coefficients. The predicted RSS value was later codified as Fuzzy sets and in conjunction with other measured network parameters were fed into the Fuzzy logic controller in order to finalize handover decision process. The performance of the newly developed k-step ahead ANN based RSS prediction algorithm was evaluated using simulated and real data acquired from available mobile communication networks. Results obtained in both cases shows that the proposed algorithm is capable of predicting ahead the RSS value to about ±0.0002 dB. Also, the cascaded effect of the complete handover decision module was also evaluated. Results obtained show that the newly proposed hybrid approach was able to reduce ping-pong effect associated with other handover techniques.

Educational Programs for Intelligence Professionals.

Science.gov (United States)

Miller, Jerry P.

1994-01-01

Discusses the need for education programs for competitive intelligence professionals. Highlights include definitions of intelligence functions, focusing on business intelligence; information utilization by decision makers; information sources; competencies for intelligence professionals; and the development of formal education programs. (38…

Decision-making and cognitive abilities: A review of associations between Iowa Gambling Task performance, executive functions, and intelligence.

Science.gov (United States)

Toplak, Maggie E; Sorge, Geoff B; Benoit, André; West, Richard F; Stanovich, Keith E

2010-07-01

The Iowa Gambling Task (IGT) has been used to study decision-making differences in many different clinical and developmental samples. It has been suggested that IGT performance captures abilities that are separable from cognitive abilities, including executive functions and intelligence. The purpose of the current review was to examine studies that have explicitly examined the relationship between IGT performance and these cognitive abilities. We included 43 studies that reported correlational analyses with IGT performance, including measures of inhibition, working memory, and set-shifting as indices of executive functions, as well as measures of verbal, nonverbal, and full-scale IQ as indices of intelligence. Overall, only a small proportion of the studies reported a statistically significant relationship between IGT performance and these cognitive abilities. The majority of studies reported a non-significant relationship. Of the minority of studies that reported statistically significant effects, effect sizes were, at best, small to modest, and confidence intervals were large, indicating that considerable variability in performance on the IGT is not captured by current measures of executive function and intelligence. These findings highlight the separability between decision-making on the IGT and cognitive abilities, which is consistent with recent conceptualizations that differentiate rationality from intelligence. 2010 Elsevier Ltd. All rights reserved.

Internal Control Environment Forces and Financial Reporting Decisions Made by Financial Accountants. The 1999 Delta Pi Epsilon Doctoral Research Award.

Science.gov (United States)

D'Aquila, Jill M.

2000-01-01

Responses from 188 certified public accountants indicated that those who perceived an organizational tone fostering ethical behavior were more likely to report financial information fairly. When presented with six ethical dilemmas, they made decisions that resulted in misrepresented information for an average of 1.5 dilemmas. (SK)

BUSINESS INTELLIGENCE

OpenAIRE

Bogdan Mohor Dumitrita

2011-01-01

The purpose of this work is to present business intelligence systems. These systems can be extremely complex and important in modern market competition. Its effectiveness also reflects in price, so we have to exlore their financial potential before investment. The systems have 20 years long history and during that time many of such tools have been developed, but they are rarely still in use. Business intelligence system consists of three main areas: Data Warehouse, ETL tools and tools f...

ARTIFICIAL INTELLIGENCE CAPABILITIES FOR INCREASING ORGANIZATIONAL-TECHNOLOGICAL RELIABILITY OF CONSTRUCTION

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Ginzburg Alexander Vital`evich

2018-02-01

Full Text Available The technology of artificial intelligence is actively being mastered in the world but there is not much talk about the capabilities of artificial intelligence in construction industry and this issue requires additional elaboration. As a rule, the decision to invest in a particular construction project is made on the basis of an assessment of the organizational and technological reliability of the construction process. Artificial intelligence can be a convenient quality tool for identifying, analyzing and subsequent control of the “pure” risks of the construction project, which not only will significantly reduce the financial and time expenditures for the investor’s decision-making process but also improve the organizational-technological reliability of the construction process as a whole. Subject: the algorithm of creation of artificial intelligence in the field of identification and analysis of potential risk events is presented, which will facilitate the creation of an independent analytical system for different stages of construction production: from the sketch to the working documentation and conduction of works directly on the construction site. Research objectives: the study of the possibility, methods and planning of the algorithm of works for creation of artificial intelligence technology in order to improve the organizational-technological reliability of the construction process. Materials and methods: the developments in the field of improving the organizational and technological reliability of construction were studied through the analysis and control of potential “pure” risks of the construction project, and the work was also carried out to integrate the technology of artificial intelligence into the area being studied. Results: An algorithm for creating artificial intelligence in the field of identification of potential “pure” risks of construction projects was presented. Conclusions: the obtained results are useful

Beyond IQ: A Latent State-Trait Analysis of General Intelligence, Dynamic Decision Making, and Implicit Learning

Science.gov (United States)

Danner, Daniel; Hagemann, Dirk; Schankin, Andrea; Hager, Marieke; Funke, Joachim

2011-01-01

The present study investigated cognitive performance measures beyond IQ. In particular, we investigated the psychometric properties of dynamic decision making variables and implicit learning variables and their relation with general intelligence and professional success. N = 173 employees from different companies and occupational groups completed…

A Dynamic Intelligent Decision Approach to Dependency Modeling of Project Tasks in Complex Engineering System Optimization

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Tinggui Chen

2013-01-01

Full Text Available Complex engineering system optimization usually involves multiple projects or tasks. On the one hand, dependency modeling among projects or tasks highlights structures in systems and their environments which can help to understand the implications of connectivity on different aspects of system performance and also assist in designing, optimizing, and maintaining complex systems. On the other hand, multiple projects or tasks are either happening at the same time or scheduled into a sequence in order to use common resources. In this paper, we propose a dynamic intelligent decision approach to dependency modeling of project tasks in complex engineering system optimization. The approach takes this decision process as a two-stage decision-making problem. In the first stage, a task clustering approach based on modularization is proposed so as to find out a suitable decomposition scheme for a large-scale project. In the second stage, according to the decomposition result, a discrete artificial bee colony (ABC algorithm inspired by the intelligent foraging behavior of honeybees is developed for the resource constrained multiproject scheduling problem. Finally, a certain case from an engineering design of a chemical processing system is utilized to help to understand the proposed approach.

Econometric Analysis of Bulk Shipping: implications for investment strategies and financial decision-making

NARCIS (Netherlands)

S. Tsolakis

2005-01-01

textabstractThis thesis provides an econometric analysis of the bulk shipping markets and the implications for shipping investment and financial decision making. Chapter 1 sets the scene by providing a historic analysis of bulk shipping markets over the last 55 years. From this analysis, four

Decision-making conflict and the neural efficiency hypothesis of intelligence: a functional near-infrared spectroscopy investigation.

Science.gov (United States)

Di Domenico, Stefano I; Rodrigo, Achala H; Ayaz, Hasan; Fournier, Marc A; Ruocco, Anthony C

2015-04-01

Research on the neural efficiency hypothesis of intelligence (NEH) has revealed that the brains of more intelligent individuals consume less energy when performing easy cognitive tasks but more energy when engaged in difficult mental operations. However, previous studies testing the NEH have relied on cognitive tasks that closely resemble psychometric tests of intelligence, potentially confounding efficiency during intelligence-test performance with neural efficiency per se. The present study sought to provide a novel test of the NEH by examining patterns of prefrontal activity while participants completed an experimental paradigm that is qualitatively distinct from the contents of psychometric tests of intelligence. Specifically, participants completed a personal decision-making task (e.g., which occupation would you prefer, dancer or chemist?) in which they made a series of forced choices according to their subjective preferences. The degree of decisional conflict (i.e., choice difficulty) between the available response options was manipulated on the basis of participants' unique preference ratings for the target stimuli, which were obtained prior to scanning. Evoked oxygenation of the prefrontal cortex was measured using 16-channel continuous-wave functional near-infrared spectroscopy. Consistent with the NEH, intelligence predicted decreased activation of the right inferior frontal gyrus (IFG) during low-conflict situations and increased activation of the right-IFG during high-conflict situations. This pattern of right-IFG activity among more intelligent individuals was complemented by faster reaction times in high-conflict situations. These results provide new support for the NEH and suggest that the neural efficiency of more intelligent individuals generalizes to the performance of cognitive tasks that are distinct from intelligence tests. Copyright © 2015 Elsevier Inc. All rights reserved.

Twitter Chats as a Research Tool: A Study of Young Adult Financial Decisions

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Barbara O’Neill

2018-02-01

Full Text Available Many researchers collect online survey data because it is cost-effective and less time-consuming than traditional research methods. This paper describes Twitter chats as a research tool vis-à-vis two other online research methods: providing links to electronic surveys to respondents and use of commercially available survey panels through vendors with readily available respondents. Similar to a face-to-face focus group, Twitter chats provide a synchronous environment for participants to answer a structured series of questions and to respond to both the chat facilitator and each other. This paper also reports representative responses from a Twitter chat that explored financial decisions of young adults. The chat was sponsored by a multi-state group of land-grant university researchers, in cooperation with WiseBread, a personal finance website targeted to millennials, to recruit respondents for a more extensive month-long online survey about the financial decisions of young adults. The Twitter chat responses suggest that student loans were the top concern of participants, and debt and housing rounded out the top three concerns. The internet, both websites and social media, was the most frequently cited source of financial information. The article concludes with a discussion of lessons learned from the Twitter chat experience and suggestions for professional practice.

Stock Market Liquidity and Investment Decisions of Non-Financial Quoted Companies in Nigeria

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Rafiu Oyesola Salawu

2016-01-01

Full Text Available The study examined the impact of market liquidity on investment decision of 50 non-financial quoted companies in Nigeria between 2006 and 2012. The study employed secondary source of data collection. Data collected were analyzed using descriptive statistics and inferential statistics such as pool OLS and fixed effect model. The results showed that Size of the Firm (FS and Firms’ Age (FAGE were the only significant determinants of Return on Investment (ROI. The turnover ratio (TOR which is a proxy for market liquidity had positive but insignificant effect on ROI. Based on the above findings, the study concluded that for most of the companies operating in the non-financial sector of the Nigerian economy, the influence of market liquidity on investment decision is positive, but not significant. The study recommended that management should place more emphasis on the firm age and in particular firm size as they can be employed to predict the return on investment.

Financial Statements in Providing Financial Security of Agricultural Enterprises

OpenAIRE

Olha Vdovenko

2014-01-01

In conditions of severe market competition and economic turmoil financial security of agricultural businesses largely depends on the effectiveness of management decisions, reporting being the information support to ensure such decision making. Thus, the practice of preparing accounting figures and their adjustment has a direct effect on agricultural businesses financial security. Having been generalized at the industry level, statistical and financial statements are used for the development o...

Business Intelligence Solutions for Gaining Competitive Advantage

Directory of Open Access Journals (Sweden)

2007-01-01

Full Text Available Business Intelligence is the process for increasing the competitive advantage of a company by intelligent use of available data in decision-making. Only a revolutionary Business Intelligence solution, like the proposed portal-based, can solve the complex issues faced when evaluating decision support applications and ensures the availability of any business-critical information.

The Management of Disinvestment Decision and its Impact on Financial Statements

Directory of Open Access Journals (Sweden)

Moisescu Florentina

2016-07-01

Full Text Available The political and economic context of the world noticeably influenced, in recent years, the economic development of corporations, causing sometimes resounding failures, forcing businesses to act with caution. In this context, senior management decisions are oriented towards achieving financial stability, even if this implies a stagnation in terms of the financial result and not a constant profit growth. This paper examines the impact of fixed alienation on the entity's financial results, the importance of rational management strategie that lead to the creation of new sources of investment and the timing of disinvestments by applying the Altman model to the Romanian energy companies quoted at BVB. It has been found that the incorrect clasification of assets held for sale, changes the structure of the expenses incurred with the amortization said tangible assets because at the moments of their classification as assets held for sale, assests cease to be amortized. In the case of the failure of the Retail Plan, the recording of the accounting depreciation stops and the asset is being over-evaluated.

Do Financial Constraints Moderate the Impact of Financing Decisions From Internal-financing Sources on Investment?

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Andewi Rokhmawati

2017-07-01

Full Text Available To prevent investment growth in 2013 to 2015 from decreasing, the Industrial Ministry provided fiscal incentives to stimulate investment-growth. Nevertheless, the investment growth of manufacturing firms still declined. This condition indicated that fiscal stimulus might be ineffective to prevent investment-growth from declining. The decline of investment might be influenced by the increase of firm financial constraints to access a source of long term debts. This study aimed to examine the influence of financial constraints in moderating the effect of financing decisions from internal financing sources on investment. The population of the study was all listed-manufacturing firms in Indonesia from 2013 to 2015. Samples were chosen based on the availability of firms’ financial report covering the period of the study. The study concluded that financial constraints significantly weaken the effect of internal funding decision on investment. Unconstrained firms had a higher beta than constrained firms. Although unconstrained firms had an opportunity to choose their source of funding, they preferred to finance their investment from cash flows because the cost of debts might be much higher than the cost of equity.Hence, to help firms to finance their feasible investment opportunity, the government should not only provide tax incentives but also provide a low-interest loan.

Semantic Business Intelligence - a New Generation of Business Intelligence

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Dinu AIRINEI

2012-01-01

Full Text Available Business Intelligence Solutions represents applications used by companies to manage process and analyze data to provide substantiated decision. In the context of Semantic Web develop-ment trend is to integrate semantic unstructured data, making business intelligence solutions to be redesigned in such a manner that can analyze, process and synthesize, in addition to traditional data and data integrated with semantic another form and structure. This invariably leads appearance of new BI solution, called Semantic Business Intelligence.

Artificial intelligence in cardiology.

Science.gov (United States)

Bonderman, Diana

2017-12-01

Decision-making is complex in modern medicine and should ideally be based on available data, structured knowledge and proper interpretation in the context of an individual patient. Automated algorithms, also termed artificial intelligence that are able to extract meaningful patterns from data collections and build decisions upon identified patterns may be useful assistants in clinical decision-making processes. In this article, artificial intelligence-based studies in clinical cardiology are reviewed. The text also touches on the ethical issues and speculates on the future roles of automated algorithms versus clinicians in cardiology and medicine in general.

Decision making in the context of business intelligence and data quality

Directory of Open Access Journals (Sweden)

L. Marshall

2009-02-01

Full Text Available delaharper@cput.ac.za Making decisions in a business intelligence (BI environment can become extremely challenging and sometimes even impossible if the data on which the decisions are based are of poor quality. It is only possible to utilise data effectively when it is accurate, up-to-date, complete and available when needed. The BI decision makers and users are in the best position to determine the quality of the data available to them. It is important to ask the right questions of them; therefore the issues of information quality in the BI environment were established through a literature study. Information-related problems may cause supplier relationships to deteriorate, reduce internal productivity and the business' confidence in IT. Ultimately it can have implications for an organisation's ability to perform and remain competitive. The purpose of this article is aimed at identifying the underlying factors that prevent information from being easily and effectively utilised and understanding how these factors can influence the decision-making process, particularly within a BI environment. An exploratory investigation was conducted at a large retail organisation in South Africa to collect empirical data from BI users through unstructured interviews. Some of the main findings indicate specific causes that impact the decisions of BI users, including accuracy, inconsistency, understandability and availability of information. Key performance measures that are directly impacted by the quality of data on decision-making include waste, availability, sales and supplier fulfilment. The time spent on investigating and resolving data quality issues has a major impact on productivity. The importance of documentation was highlighted as an important issue that requires further investigation. The initial results indicate the value of

COMPANY ACTIVITY FINANCIAL RISK

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Caruntu Genu Alexandru

2012-12-01

Full Text Available In economic and financial activity, risk is an inherent financial decisions, encountered in daily agenda of managers of companies. Unexpected changes in the price of a product development not only affect the financial results of a company, but can cause even bankruptcy. In fact, the nature of financial decisions involve uncertainty. Financial decisions are made based on cash flows under future contracts, which are par excellence incerte.Activitatea an enterprise that holds any weight in the industry is subject to risks, since it can not predict with certainty different components of its outcome (cost, quantity, price and operating cycle (purchase, processing, sales.

It's money that matters: the financial context of ethical decision-making in modern biomedicine.

Science.gov (United States)

Hedgecoe, Adam M

2006-09-01

While the importance of patient autonomy is widely acknowledged and discussed in the bioethics literature, clinicians' autonomy, their ability to make the best choices about patients' care free from outside interference, is far less debated. This paper takes one form of external influence over clinical decisions - the cost of drugs - and applies it to a specific case, that of HER2 positive breast cancer and the use of the drug Herceptin in the UK. Drawing on interviews with clinicians, researchers and policymakers, I explore the way financial decisions about Herceptin shape clinicians' autonomy, and how clinicians as individuals and as professional groups respond to these limits and seek to provide treatment to the highest number of the most deserving patients they can. The point of this paper is not to castigate bioethicists for misguidedly focusing on patient autonomy but point out that clinicians' autonomy may be so circumscribed by external factors that it may make no sense to speak of their actions as stemming from ethical decisions. At the same time, I suggest that financial constraints create areas at the margin of clinical practice which are deserving of bioethical consideration.

Intelligence analysis – the royal discipline of Competitive Intelligence

Directory of Open Access Journals (Sweden)

František Bartes

2011-01-01

Full Text Available The aim of this article is to propose work methodology for Competitive Intelligence teams in one of the intelligence cycle’s specific area, in the so-called “Intelligence Analysis”. Intelligence Analysis is one of the stages of the Intelligence Cycle in which data from both the primary and secondary research are analyzed. The main result of the effort is the creation of added value for the information collected. Company Competiitve Intelligence, correctly understood and implemented in business practice, is the “forecasting of the future”. That is forecasting about the future, which forms the basis for strategic decisions made by the company’s top management. To implement that requirement in corporate practice, the author perceives Competitive Intelligence as a systemic application discipline. This approach allows him to propose a “Work Plan” for Competitive Intelligence as a fundamental standardized document to steer Competitive Intelligence team activities. The author divides the Competitive Intelligence team work plan into five basic parts. Those parts are derived from the five-stage model of the intelligence cycle, which, in the author’s opinion, is more appropriate for complicated cases of Competitive Intelligence.

Business Intelligence: Turning Knowledge into Power

Science.gov (United States)

Endsley, Krista

2009-01-01

Today, many school districts are turning to business intelligence tools to retrieve, organize, and share knowledge for faster analysis and more effective, guided decision making. Business intelligence (BI) tools are the technologies and applications that gather and report information to help an organization's leaders make better decisions. BI…

Business Intelligence Systems Accounting Integration in Romania. a Comparative Analysis

Directory of Open Access Journals (Sweden)

Daniela Postolache (Males

2010-12-01

Full Text Available Business Intelligence (BI systems have penetrated the Romanian market, providing a real decision support by integrating and synthesizing a large variety of information available in real time, anywhere in the world, including through mobile terminals. This study examines the BI solutions promoted in Romania through Internet sites written in Romanian, in terms of how the accounting information integration is done. Our paper highlights the most used economic and financial indicators and most often selected tools by BI systems developers to assist decisions. The writing bring forward the lack of transparency of the analyzed sites towards of configuration details of economic instruments, which we consider likely to delay the managers from Romania in order to become familiar with BI solutions, and it represent a weakness of this products promotion.

The qualitative characteristics of financial information, and managers’ accounting decisions:evidence from IFRS policy changes

OpenAIRE

Nobes, Christopher; Stadler, Christian

2015-01-01

This is the first empirical study that uses publicly available data to provide direct evidence about the role of the qualitative characteristics (QCs) of financial information in managements’ accounting decisions. Based on 40,895 hand-collected IFRS (International Financial Reporting Standards) policy choices on 16 topics made by 514 large firms of 10 jurisdictions in the period 2005–2011, we identify 204 reasons for policy changes. The majority of these refer to QCs from the conceptual frame...

Application of Artificial Intelligence and Data Mining Techniques to Financial Markets

OpenAIRE

Katarína Hilovska; Peter Koncz

2012-01-01

The aim of artificial intelligence is to discover mechanisms of adaptation in a changing environment with utilisation of intelligence, for instance in the ability to exclude unlikely solutions. Artificial intelligence methods have extensive application in different fields such as medicine, games, transportation, or heavy industry. This paper deals with interdisciplinary issues – interconnection of artificial intelligence and finance. The paper briefly describes techniques of data mining, expe...

A Graph is Worth a Thousand Words: How Overconfidence and Graphical Disclosure of Numerical Information Influence Financial Analysts Accuracy on Decision Making.

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Ricardo Lopes Cardoso

Full Text Available Previous researches support that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Moreover, literature shows that different types of graphical information can help or harm the accuracy on decision making of accountants and financial analysts. We conducted a 4×2 mixed-design experiment to examine the effects of numerical information disclosure on financial analysts' accuracy, and investigated the role of overconfidence in decision making. Results show that compared to text, column graph enhanced accuracy on decision making, followed by line graphs. No difference was found between table and textual disclosure. Overconfidence harmed accuracy, and both genders behaved overconfidently. Additionally, the type of disclosure (text, table, line graph and column graph did not affect the overconfidence of individuals, providing evidence that overconfidence is a personal trait. This study makes three contributions. First, it provides evidence from a larger sample size (295 of financial analysts instead of a smaller sample size of students that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Second, it uses the text as a baseline comparison to test how different ways of information disclosure (line and column graphs, and tables can enhance understandability of information. Third, it brings an internal factor to this process: overconfidence, a personal trait that harms the decision-making process of individuals. At the end of this paper several research paths are highlighted to further study the effect of internal factors (personal traits on financial analysts' accuracy on decision making regarding numerical information presented in a graphical form. In addition, we offer suggestions concerning some practical implications for professional accountants, auditors, financial analysts and standard setters.

A Graph is Worth a Thousand Words: How Overconfidence and Graphical Disclosure of Numerical Information Influence Financial Analysts Accuracy on Decision Making.

Science.gov (United States)

Cardoso, Ricardo Lopes; Leite, Rodrigo Oliveira; de Aquino, André Carlos Busanelli

2016-01-01

Previous researches support that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Moreover, literature shows that different types of graphical information can help or harm the accuracy on decision making of accountants and financial analysts. We conducted a 4×2 mixed-design experiment to examine the effects of numerical information disclosure on financial analysts' accuracy, and investigated the role of overconfidence in decision making. Results show that compared to text, column graph enhanced accuracy on decision making, followed by line graphs. No difference was found between table and textual disclosure. Overconfidence harmed accuracy, and both genders behaved overconfidently. Additionally, the type of disclosure (text, table, line graph and column graph) did not affect the overconfidence of individuals, providing evidence that overconfidence is a personal trait. This study makes three contributions. First, it provides evidence from a larger sample size (295) of financial analysts instead of a smaller sample size of students that graphs are relevant decision aids to tasks related to the interpretation of numerical information. Second, it uses the text as a baseline comparison to test how different ways of information disclosure (line and column graphs, and tables) can enhance understandability of information. Third, it brings an internal factor to this process: overconfidence, a personal trait that harms the decision-making process of individuals. At the end of this paper several research paths are highlighted to further study the effect of internal factors (personal traits) on financial analysts' accuracy on decision making regarding numerical information presented in a graphical form. In addition, we offer suggestions concerning some practical implications for professional accountants, auditors, financial analysts and standard setters.

Artificial Intelligence and Moral intelligence

Directory of Open Access Journals (Sweden)

Laura Pana

2008-07-01

Full Text Available We discuss the thesis that the implementation of a moral code in the behaviour of artificial intelligent systems needs a specific form of human and artificial intelligence, not just an abstract intelligence. We present intelligence as a system with an internal structure and the structural levels of the moral system, as well as certain characteristics of artificial intelligent agents which can/must be treated as 1- individual entities (with a complex, specialized, autonomous or selfdetermined, even unpredictable conduct, 2- entities endowed with diverse or even multiple intelligence forms, like moral intelligence, 3- open and, even, free-conduct performing systems (with specific, flexible and heuristic mechanisms and procedures of decision, 4 – systems which are open to education, not just to instruction, 5- entities with “lifegraphy”, not just “stategraphy”, 6- equipped not just with automatisms but with beliefs (cognitive and affective complexes, 7- capable even of reflection (“moral life” is a form of spiritual, not just of conscious activity, 8 – elements/members of some real (corporal or virtual community, 9 – cultural beings: free conduct gives cultural value to the action of a ”natural” or artificial being. Implementation of such characteristics does not necessarily suppose efforts to design, construct and educate machines like human beings. The human moral code is irremediably imperfect: it is a morality of preference, of accountability (not of responsibility and a morality of non-liberty, which cannot be remedied by the invention of ethical systems, by the circulation of ideal values and by ethical (even computing education. But such an imperfect morality needs perfect instruments for its implementation: applications of special logic fields; efficient psychological (theoretical and technical attainments to endow the machine not just with intelligence, but with conscience and even spirit; comprehensive technical

Cooperation and the evolution of intelligence.

Science.gov (United States)

McNally, Luke; Brown, Sam P; Jackson, Andrew L

2012-08-07

The high levels of intelligence seen in humans, other primates, certain cetaceans and birds remain a major puzzle for evolutionary biologists, anthropologists and psychologists. It has long been held that social interactions provide the selection pressures necessary for the evolution of advanced cognitive abilities (the 'social intelligence hypothesis'), and in recent years decision-making in the context of cooperative social interactions has been conjectured to be of particular importance. Here we use an artificial neural network model to show that selection for efficient decision-making in cooperative dilemmas can give rise to selection pressures for greater cognitive abilities, and that intelligent strategies can themselves select for greater intelligence, leading to a Machiavellian arms race. Our results provide mechanistic support for the social intelligence hypothesis, highlight the potential importance of cooperative behaviour in the evolution of intelligence and may help us to explain the distribution of cooperation with intelligence across taxa.

Dissolved Gas Analysis Principle-Based Intelligent Approaches to Fault Diagnosis and Decision Making for Large Oil-Immersed Power Transformers: A Survey

Directory of Open Access Journals (Sweden)

Lefeng Cheng

2018-04-01

Full Text Available Compared with conventional methods of fault diagnosis for power transformers, which have defects such as imperfect encoding and too absolute encoding boundaries, this paper systematically discusses various intelligent approaches applied in fault diagnosis and decision making for large oil-immersed power transformers based on dissolved gas analysis (DGA, including expert system (EPS, artificial neural network (ANN, fuzzy theory, rough sets theory (RST, grey system theory (GST, swarm intelligence (SI algorithms, data mining technology, machine learning (ML, and other intelligent diagnosis tools, and summarizes existing problems and solutions. From this survey, it is found that a single intelligent approach for fault diagnosis can only reflect operation status of the transformer in one particular aspect, causing various degrees of shortcomings that cannot be resolved effectively. Combined with the current research status in this field, the problems that must be addressed in DGA-based transformer fault diagnosis are identified, and the prospects for future development trends and research directions are outlined. This contribution presents a detailed and systematic survey on various intelligent approaches to faults diagnosing and decisions making of the power transformer, in which their merits and demerits are thoroughly investigated, as well as their improvement schemes and future development trends are proposed. Moreover, this paper concludes that a variety of intelligent algorithms should be combined for mutual complementation to form a hybrid fault diagnosis network, such that avoiding these algorithms falling into a local optimum. Moreover, it is necessary to improve the detection instruments so as to acquire reasonable characteristic gas data samples. The research summary, empirical generalization and analysis of predicament in this paper provide some thoughts and suggestions for the research of complex power grid in the new environment, as

Quantifying Carbon Financial Risk in the International Greenhouse Gas Market: An Application Using Remotely-Sensed Data to Align Scientific Uncertainty with Financial Decisions

Science.gov (United States)

Hultman, N. E.

2002-12-01

A common complaint about environmental policy is that regulations inadequately reflect scientific uncertainty and scientific consensus. While the causes of this phenomenon are complex and hard to discern, we know that corporations are the primary implementers of environmental regulations; therefore, focusing on how policy relates scientific knowledge to corporate decisions can provide valuable insights. Within the context of the developing international market for greenhouse gas emissions, I examine how corporations would apply finance theory into their investment decisions for carbon abatement projects. Using remotely-sensed ecosystem scale carbon flux measurements, I show how to determine much financial risk of carbon is diversifiable. I also discuss alternative, scientifically sound methods for hedging the non-diversifiable risks in carbon abatement projects. In providing a quantitative common language for scientific and corporate uncertainties, the concept of carbon financial risk provides an opportunity for expanding communication between these elements essential to successful climate policy.

THE INTERFACE BETWEEN FINANCIAL AND MANAGEMENT ACCOUNTING

Directory of Open Access Journals (Sweden)

Elena HLACIUC

2017-12-01

Full Text Available The purpose of this article is to offer useful information about the about the two branches of accounting, management accounting and financial accounting. The role of management accounting is to make the life easier for managers and to facilitate decisions that have to take on the production process or the smooth running of the business. The managers are in a continues need of various information, from the evolution of economics processes of the companies they are leading, up to the external environment. They required data information by different techniques, statistics, graphs, mathematical calculations, to substantiate the decision to take by data value, and not just rely on technical or quantitative. Financial accounting do not offer detailed information about the evolution or informational needs of managers, this is designed external users, like: state institutions, the competition, banks, suppliers, customers who do not require daily information about the entity. Instead, the manager request the detailed information, at irregular intervals, about the production process, the labor productivity, activity reports, internal entity, which often is not available to external users of accounting information. The financial accounting is based on several conventions, laws, standards, helping financial data are comparable over time or between similar entities. The financial accounting offers information about the performance and financial position of the entity and making it intelligible at the same time by all the users. In the case of management accounting, the information do not have an standard presentation, the reports offers information about money, the moment when those have to be paid and the moment when they come back, as receipts. The management accounting it provides futures information and what will happen, in contrast to financial accounting, who provides information about the past and what just happened. Management information uses tools

Intelligence from Space: Using Geographical Information Systems for Competitive Intelligence

NARCIS (Netherlands)

Hendriks, P.H.J.; Vriens, D.J.

2003-01-01

The spatial element, which is omnipresent in data and information relevant to organizations, is much underused in the decision-making processes within organizations. This applies also to decision-making within the domain of Competitive Intelligence. The chapter explores how the CI function may

An intelligent decision support system for management of petroleum-contaminated sites

International Nuclear Information System (INIS)

Liquang Geng; Chan, C.W.; Zhi Chen; Huang, G.H.

2001-01-01

Groundwater and soil contamination resulted from LNAPLs (light nonaqueous phase liquids) spills and leakage in petroleum industry is currently one of the major environmental concerns in North America. Numerous site remediation technologies have been developed and implemented in the last two decades. They are classified as ex-situ and in-situ remediation techniques. One of the problems associated with ex-situ remediation is the cost of operation. In recent years, in-situ techniques have acquired popularity. However, the selection of the optimal techniques is difficult and insufficient expertise in the process may result in large inflation of expenses. This study presents an expert system (ES) for the management of petroleum contaminated sites in which a variety of artificial intelligence (AI) techniques were used to construct a support tool for site remediation decision-making. This paper presents the knowledge engineering processes of knowledge acquisition, conceptual design, and system implementation. The results from some case studies indicate that the expert system can generate cost-effective remediation alternatives to assist decision-makers. (Author)

Dental ethics and emotional intelligence.

Science.gov (United States)

Rosenblum, Alvin B; Wolf, Steve

2014-01-01

Dental ethics is often taught, viewed, and conducted as an intell enterprise, uninformed by other noncognitive factors. Emotional intelligence (EQ) is defined distinguished from the cognitive intelligence measured by Intelligence Quotient (IQ). This essay recommends more inclusion of emotional, noncognitive input to the ethical decision process in dental education and dental practice.

Corporate financial decision makers' perceptions of their company's safety performance, programs and personnel: Do company size and industry injury risk matter?

Science.gov (United States)

DeArmond, Sarah; Huang, Yueng-Hsiang; Chen, Peter Y; Courtney, Theodore K

2010-01-01

Top-level managers make important decisions about safety-related issues, yet little research has been done involving these individuals. The current study explored corporate financial decisions makers' perceptions of their company's safety and their justifications for these perceptions. This study also explored whether their perceptions and justifications varied as a function of company size or industry injury risk. A total of 404 individuals who were the most senior managers responsible for making decisions about property and casualty risk at their companies participated in this study. The participants took part in a telephone survey. The results suggest that corporate financial decision makers have positive views of safety at their companies relative to safety at other companies within their industries. Further, many believe their company's safety is influenced by the attention/emphasis placed on safety and the selection and training of safety personnel. Participants' perceptions varied somewhat based on the size of their company and the level of injury risk in their industry. While definitive conclusions about corporate financial decision makers' perceptions of safety cannot be reached as a result of this single study, this work does lay groundwork for future research aimed at better understanding the perceptions top-level managers.

A VidEo-Based Intelligent Recognition and Decision System for the Phacoemulsification Cataract Surgery

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Shu Tian

2015-01-01

Full Text Available The phacoemulsification surgery is one of the most advanced surgeries to treat cataract. However, the conventional surgeries are always with low automatic level of operation and over reliance on the ability of surgeons. Alternatively, one imaginative scene is to use video processing and pattern recognition technologies to automatically detect the cataract grade and intelligently control the release of the ultrasonic energy while operating. Unlike cataract grading in the diagnosis system with static images, complicated background, unexpected noise, and varied information are always introduced in dynamic videos of the surgery. Here we develop a VidEo-Based Intelligent Recognitionand Decision (VEBIRD system, which breaks new ground by providing a generic framework for automatically tracking the operation process and classifying the cataract grade in microscope videos of the phacoemulsification cataract surgery. VEBIRD comprises a robust eye (iris detector with randomized Hough transform to precisely locate the eye in the noise background, an effective probe tracker with Tracking-Learning-Detection to thereafter track the operation probe in the dynamic process, and an intelligent decider with discriminative learning to finally recognize the cataract grade in the complicated video. Experiments with a variety of real microscope videos of phacoemulsification verify VEBIRD’s effectiveness.

Intelligent systems in oil field development under uncertainty

Energy Technology Data Exchange (ETDEWEB)

Pacheco, Marco A.C.; Vellasco, Marley M.B.R. (eds.) [PUC-Rio, Rio de Janeiro (Brazil). Dept. of Electrical Engineering

2009-07-01

Intelligent Systems use a range of methodologies for analysis, pre-processing, storage, organization, enhancing and mining of operational data, turning it into useful information and knowledge for decision makers in business enterprises. These intelligent technologies for decision support have been used with success by companies and organizations that are looking for competitive advantages whenever the issues on forecast, optimization, risks analysis, fraud detection, and decision under uncertainties are presented. Intelligent Systems (IS) offer to managers and decision makers the best solutions for complex applications, normally considered difficult, very restrictive or even impossible. The use of such techniques leads to a revolutionary process which has a significant impact in the business management strategy, by providing on time, correct information, ready to use. Computational intelligence techniques, especially genetic algorithms, genetic programming, neural networks, fuzzy logic and neuro-fuzzy as well as modern finance theories, such as real options theory, are here presented and exemplified in oil and gas exploitation and production. This book is addressed to executives and students, directly involved or interested in intelligent management in different fields. (orig.)

A Financial Data Mining Model for Extracting Customer Behavior

Directory of Open Access Journals (Sweden)

Mark K.Y. Mak

2011-08-01

Full Text Available Facing the problem of variation and chaotic behavior of customers, the lack of sufficient information is a challenge to many business organizations. Human analysts lacking an understanding of the hidden patterns in business data, thus, can miss corporate business opportunities. In order to embrace all business opportunities, enhance the competitiveness, discovery of hidden knowledge, unexpected patterns and useful rules from large databases have provided a feasible solution for several decades. While there is a wide range of financial analysis products existing in the financial market, how to customize the investment portfolio for the customer is still a challenge to many financial institutions. This paper aims at developing an intelligent Financial Data Mining Model (FDMM for extracting customer behavior in the financial industry, so as to increase the availability of decision support data and hence increase customer satisfaction. The proposed financial model first clusters the customers into several sectors, and then finds the correlation among these sectors. It is noted that better customer segmentation can increase the ability to identify targeted customers, therefore extracting useful rules for specific clusters can provide an insight into customers' buying behavior and marketing implications. To validate the feasibility of the proposed model, a simple dataset is collected from a financial company in Hong Kong. The simulation experiments show that the proposed method not only can improve the workflow of a financial company, but also deepen understanding of investment behavior. Thus, a corporation is able to customize the most suitable products and services for customers on the basis of the rules extracted.

Intelligent Decision-Making System with Green Pervasive Computing for Renewable Energy Business in Electricity Markets on Smart Grid

Directory of Open Access Journals (Sweden)

Park JongHyuk

2009-01-01

Full Text Available This paper is about the intelligent decision-making system for the smart grid based electricity market which requires distributed decision making on the competitive environments composed of many players and components. It is very important to consider the renewable energy and emission problem which are expected to be monitored by wireless communication networks. It is very difficult to predict renewable energy outputs and emission prices over time horizon, so it could be helpful to catch up those data on real time basis using many different kinds of communication infrastructures. On this backgrounds this paper provides an algorithm to make an optimal decision considering above factors.

Artificial intelligence techniques applied to the development of a decision-support system for diagnosing celiac disease.

Science.gov (United States)

Tenório, Josceli Maria; Hummel, Anderson Diniz; Cohrs, Frederico Molina; Sdepanian, Vera Lucia; Pisa, Ivan Torres; de Fátima Marin, Heimar

2011-11-01

Celiac disease (CD) is a difficult-to-diagnose condition because of its multiple clinical presentations and symptoms shared with other diseases. Gold-standard diagnostic confirmation of suspected CD is achieved by biopsying the small intestine. To develop a clinical decision-support system (CDSS) integrated with an automated classifier to recognize CD cases, by selecting from experimental models developed using intelligence artificial techniques. A web-based system was designed for constructing a retrospective database that included 178 clinical cases for training. Tests were run on 270 automated classifiers available in Weka 3.6.1 using five artificial intelligence techniques, namely decision trees, Bayesian inference, k-nearest neighbor algorithm, support vector machines and artificial neural networks. The parameters evaluated were accuracy, sensitivity, specificity and area under the ROC curve (AUC). AUC was used as a criterion for selecting the CDSS algorithm. A testing database was constructed including 38 clinical CD cases for CDSS evaluation. The diagnoses suggested by CDSS were compared with those made by physicians during patient consultations. The most accurate method during the training phase was the averaged one-dependence estimator (AODE) algorithm (a Bayesian classifier), which showed accuracy 80.0%, sensitivity 0.78, specificity 0.80 and AUC 0.84. This classifier was integrated into the web-based decision-support system. The gold-standard validation of CDSS achieved accuracy of 84.2% and k=0.68 (pdiagnosis. Copyright © 2011 Elsevier Ireland Ltd. All rights reserved.

Wind Power Project Repowering: Financial Feasibility, Decision Drivers, and Supply Chain Effects

Energy Technology Data Exchange (ETDEWEB)

Lantz, Eric [National Renewable Energy Lab. (NREL), Golden, CO (United States); Leventhal, Michael [National Renewable Energy Lab. (NREL), Golden, CO (United States); Baring-Gould, Ian [National Renewable Energy Lab. (NREL), Golden, CO (United States)

2013-12-01

As wind power facilities age, project owners are faced with plant end of life decisions. This report is intended to inform policymakers and the business community regarding the history, opportunities, and challenges associated with plant end of life actions, in particular repowering. Specifically, the report details the history of repowering, examines the plant age at which repowering becomes financially attractive, and estimates the incremental market investment and supply chain demand that might result from future U.S. repowering activities.

Decision Support System Based on Computational Collective Intelligence in Campus Information Systems

Science.gov (United States)

Saito, Yoshihito; Matsuo, Tokuro

Education institutions such as universities have a lot of information including book information, equipment administrative information, student information, and several others. The institutions also have multiple information in time series. As collective intelligence in campus, integrating and reusing these preserved information regarding career and taking a class, university can effectively support students' decision making of their getting jobs and subjects choice. Our purpose of support is to increase student's motivation. In this paper, we focus on course record and job information included in students' information, and propose the method to analyze correlation between a pattern of taking class and job lined up. Afterwards, we propose a support system regarding getting a job and taking class by using our proposed method. For a student who has his/her favorite job to get, the system supports his/her decision making of lecture choice by recommending a set of appropriate lecture groups. On another hand, for a student who does not have favorite job to get, the system supports his/her decision making of getting job by presenting appropriate job families related with lecture group in which he/she has ever taken. The contribution of this paper is showing a concrete method to reuse the campus collective information, implementing a system, and user perspectives.

Factors Influencing Pricing Decision: Evidence from Non-Financial Firms in Nigeria

Directory of Open Access Journals (Sweden)

Luqman Olawale

2017-02-01

Full Text Available This study examines the significant factors influencing pricing decision in Nigeria. The study is based on the appraisal of the factors that influence pricing decision using 100 non-financial companies listed on the Nigeria Stock Exchange (NSE in 2013. The cross sectional data was obtained from annual reports of the sampled firms which were analyzed based on OrdinaryRegression model. The results revealed that cost of sales has an insignificant positive effect on pricing policy, while company’s objective and consumer perception has significant positive relationship on pricing policy. On the external determinants, market demand and availability of close substitute has a significant negative effect on pricing policy while macroeconomic trend and market segment has insignificant negative effect on pricing policy. This study therefore suggests among others that, effort should be made on reducing cost of production in order to maximize profit.

Comparing the role of accruals and operating cash flows on users' decisions on financial statements: A case study of Tehran Stock Exchange

Directory of Open Access Journals (Sweden)

Mohsen Sohrabi Araghi

2013-01-01

Full Text Available One of the major challenges facing all of individuals and organizations is decision-making based on the information. The issues of priority about cash flows and accruals data in decision-making process for different groups of financial statement users include investors, creditors, shareholders, directors, etc. one of the issues that has been controversial between accrual and cash accounting advocators for a long time. In this study, we survey the role of accruals and operating cash flows in decisions of financial statement users in listed companies on Tehran stock exchange, information content of operating cash flows and accruals in the connection with decision-making criteria used by different groups using financial statement has been examined. In this study, we use eliminating sampling and implied limitations and the sample size includes 203 companies to examine six hypotheses. The results of this research indicate that there is a significant different between accruals and operating cash flows information content in relation to various decision-making criteria but utilizing accruals and operating cash flows supplementary and simultaneously in profit frame depending on the selection criteria may or may not be include information value-added.

Semantic Business Intelligence - a New Generation of Business Intelligence

OpenAIRE

Dinu AIRINEI; Dora-Anca BERTA

2012-01-01

Business Intelligence Solutions represents applications used by companies to manage process and analyze data to provide substantiated decision. In the context of Semantic Web develop-ment trend is to integrate semantic unstructured data, making business intelligence solutions to be redesigned in such a manner that can analyze, process and synthesize, in addition to traditional data and data integrated with semantic another form and structure. This invariably leads appearance of new BI solutio...

New trends in computational collective intelligence

CERN Document Server

Kim, Sang-Wook; Trawiński, Bogdan

2015-01-01

This book consists of 20 chapters in which the authors deal with different theoretical and practical aspects of new trends in Collective Computational Intelligence techniques. Computational Collective Intelligence methods and algorithms are one the current trending research topics from areas related to Artificial Intelligence, Soft Computing or Data Mining among others. Computational Collective Intelligence is a rapidly growing field that is most often understood as an AI sub-field dealing with soft computing methods which enable making group decisions and processing knowledge among autonomous units acting in distributed environments. Web-based Systems, Social Networks, and Multi-Agent Systems very often need these tools for working out consistent knowledge states, resolving conflicts and making decisions. The chapters included in this volume cover a selection of topics and new trends in several domains related to Collective Computational Intelligence: Language and Knowledge Processing, Data Mining Methods an...

Financial Risk Management

OpenAIRE

Catalin-Florinel Stanescu; Laurentiu Mircea Simion

2011-01-01

Concerns about the financial risk is increasing. In this climate, companies of all types and sizes want a robust framework for financial risk management to meet compliance requirements, contribute to better decision making and increase performance. Financial risk management professionals working with financial institutions and other corporate clients to achieve these objectives.

Collaborative Decision Making in METOC

Science.gov (United States)

2002-01-01

desired effect (Eagly, & Chaiken, 1993). Arguably, artificial intelligence is representative of the best of approaches in rational decision - making ...2001), The quantum of social action and the function of emotion in decision - making , Emotional and Intelligent II: The Tangled Knot of Social...Collaborative decision making in METOC W.F. Lawless Paine College, Departments of Mathematics and Psychology Augusta, GA 30901-3182 ph: 706

Assessing Financial System Vulnerabilities: An Early Warning Approach

OpenAIRE

Gurnain Pasricha; Tom Roberts; Ian Christensen; Brad Howell

2013-01-01

This article focuses on a quantitative method to identify financial system vulnerabilities, specifically, an imbalance indicator model (IIM) and its application to Canada. An IIM identifies potential vulnerabilities in a financial system by comparing current economic and financial data with data from periods leading up to past episodes of financial stress. It complements other sources of information - including market intelligence and regular monitoring of the economy - that policy-makers use...

Towards An Intelligent Model-Based Decision Support System For An Integrated Oil Company (EGPC)

International Nuclear Information System (INIS)

Khorshid, M.; Hassan, H.; Abdel Latife, M.A.

2004-01-01

Decision Support System (DSS) is an interactive, flexible and adaptable computer-based support system specially developed for supporting the solution of unstructured management problems [31] DSS has become widespread for oil industry domain in recent years. The computer-based DSS, which were developed and implemented in oil industry, are used to address the complex short-term planning and operational issues associated with downstream industry. Most of these applications concentrate on the data-centered tools, while the model-centered applications of DSS are still very limited up till now [20]. This study develops an Intelligent Model-Based DSS for an integrated oil company, to help policy makers and petroleum planner in improving the effectiveness of the strategic planning in oil sector. This domain basically imposes semi-structured or unstructured decisions and involves a very complex modeling process

Financial Management and Control for Decision Making in Urban Local Bodies in India Using Statistical Techniques

Science.gov (United States)

Bhattacharyya, Sidhakam; Bandyopadhyay, Gautam

2010-10-01

The council of most of the Urban Local Bodies (ULBs) has a limited scope for decision making in the absence of appropriate financial control mechanism. The information about expected amount of own fund during a particular period is of great importance for decision making. Therefore, in this paper, efforts are being made to present set of findings and to establish a model of estimating receipts of own sources and payments thereof using multiple regression analysis. Data for sixty months from a reputed ULB in West Bengal have been considered for ascertaining the regression models. This can be used as a part of financial management and control procedure by the council to estimate the effect on own fund. In our study we have considered two models using multiple regression analysis. "Model I" comprises of total adjusted receipt as the dependent variable and selected individual receipts as the independent variables. Similarly "Model II" consists of total adjusted payments as the dependent variable and selected individual payments as independent variables. The resultant of Model I and Model II is the surplus or deficit effecting own fund. This may be applied for decision making purpose by the council.

Financial protection against nuclear hazards: implications of the Supreme Court's decision in Silkwood

International Nuclear Information System (INIS)

Rockett, L.R.

1985-01-01

The study evaluates the operation of the Price-Anderson Act in the light of 10 years of experience and the changes that have occurred during the period in the law and regulations and in the nuclear and insurance industries. It provides an independent analysis of various proposals to extend or amend the Act prior to its 1987 expiration. The five chapters deal with historical background and scope, financial protection under the Act, financial protection without the Act, legislative goals and issues, and alternative proposals. The report concludes that no scheme can fully satisfy all of the criteria, bu a careful balancing will depend upon congressional decision on the extent to which federal policy should encourage continued participation by private industry in the nuclear field. Selected footnotes follow each chapter

Intelligent decision making in quality management theory and applications

CERN Document Server

Yanık, Seda

2016-01-01

  This book presents recently developed intelligent techniques with applications and theory in the area of quality management. The involved applications of intelligence include techniques such as fuzzy sets, neural networks, genetic algorithms, etc. The book consists of classical quality management topics dealing with intelligent techniques for solving the complex quality management problems. The book will serve as an excellent reference for quality managers, researchers, lecturers and postgraduate students in this area. The authors of the chapters are well-known researchers in the area of quality management.  .

Operational and real-time Business Intelligence

Directory of Open Access Journals (Sweden)

Daniela Ioana SANDU

2008-01-01

Full Text Available A key component of a company’s IT framework is a business intelligence (BI system. BI enables business users to report on, analyze and optimize business operations to reduce costs and increase revenues. Organizations use BI for strategic and tactical decision making where the decision-making cycle may span a time period of several weeks (e.g., campaign management or months (e.g., improving customer satisfaction.Competitive pressures coming from a very dynamic business environment are forcing companies to react faster to changing business conditions and customer requirements. As a result, there is now a need to use BI to help drive and optimize business operations on a daily basis, and, in some cases, even for intraday decision making. This type of BI is usually called operational business intelligence and real-time business intelligence.

Framework for financial ratio analysis of audited federal financial reports

OpenAIRE

Brady, Richard T.

1999-01-01

Federal agencies have traditionally prepared financial reports to monitor and report the obligation and expenditure of federal funding. With the passage of the Chief Financial Officers Act of 1990, Congress called for the production of financial statements that fully disclose a federal entity's financial position and results of operations. The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and...

An intelligent, knowledge-based multiple criteria decision making advisor for systems design

Science.gov (United States)

Li, Yongchang

of an appropriate decision making method. Furthermore, some DMs may be exclusively using one or two specific methods which they are familiar with or trust and not realizing that they may be inappropriate to handle certain classes of the problems, thus yielding erroneous results. These issues reveal that in order to ensure a good decision a suitable decision method should be chosen before the decision making process proceeds. The first part of this dissertation proposes an MCDM process supported by an intelligent, knowledge-based advisor system referred to as Multi-Criteria Interactive Decision-Making Advisor and Synthesis process (MIDAS), which is able to facilitate the selection of the most appropriate decision making method and which provides insight to the user for fulfilling different preferences. The second part of this dissertation presents an autonomous decision making advisor which is capable of dealing with ever-evolving real time information and making autonomous decisions under uncertain conditions. The advisor encompasses a Markov Decision Process (MDP) formulation which takes uncertainty into account when determines the best action for each system state. (Abstract shortened by UMI.)

Financial Literacy and Financial Education: Review and Policy Implications

OpenAIRE

Annamaria Lusardi

2006-01-01

In recent years, as workers have gained an unprecedented degree of control over their pensions and savings, the importance of financial literacy and financial education has increased considerably. Large changes in the structure of financial markets, labor markets, and demographics in developed countries have led to this change. Consumers have a bewildering array of complex financial products – from reverse mortgages to annuities – to choose from, making saving decisions increasingly complex. ...

Decision Making Models in the Financial Market: A Study in the Light of Prospect Theory and Limited Rationality

Directory of Open Access Journals (Sweden)

Alex Diego Souza Queiroz

2016-09-01

Full Text Available The objective of this study was to determine whether the decision-making models present in Prospect Theory and the theory of limited rationality could help managers of financial institutions identify and control the emotions and rational limitations involved in the credit granting process in the financial market. To this end, a study was carried out with 17 bank managers as experimental group and 31 other managers from different areas as control group. Adopting a quantitative approach to research, questionnaires were sent electronically to a number of bank branches. Five scenarios were presented, seeking to identify the influence of behavioral factors on decisions in situations of risk. In addition, emotional triggers were included in some questions in order to verify the influence of this component on responses. Results were treated with SPSS software, using descriptive analysis of data and the statistical test Chi-square (χ². Results observed for the five scenarios indicated that emotions and limited rationality in complex environments tend to influence managers in their decision-making process. The study evidence suggests differences in decision-making in accordance with how the problem is presented.

Design decisions in the front office - back office issue: A Study of Trade-offs in the Financial Services Sector

OpenAIRE

Zomerdijk, L.G.

2005-01-01

This dissertation presents the results of a research study that involved the development of a framework that provides insight in and so supports design decisions regarding front office and back office activities in service delivery processes. Building on the evidence from five case studies in the financial services sector, three design decisions have been elaborated. They are the definition of front office and back office activities, the decoupling decisions and organizational arrangements. T...

Applying artificial intelligence technology to support decision-making in nursing: A case study in Taiwan.

Science.gov (United States)

Liao, Pei-Hung; Hsu, Pei-Ti; Chu, William; Chu, Woei-Chyn

2015-06-01

This study applied artificial intelligence to help nurses address problems and receive instructions through information technology. Nurses make diagnoses according to professional knowledge, clinical experience, and even instinct. Without comprehensive knowledge and thinking, diagnostic accuracy can be compromised and decisions may be delayed. We used a back-propagation neural network and other tools for data mining and statistical analysis. We further compared the prediction accuracy of the previous methods with an adaptive-network-based fuzzy inference system and the back-propagation neural network, identifying differences in the questions and in nurse satisfaction levels before and after using the nursing information system. This study investigated the use of artificial intelligence to generate nursing diagnoses. The percentage of agreement between diagnoses suggested by the information system and those made by nurses was as much as 87 percent. When patients are hospitalized, we can calculate the probability of various nursing diagnoses based on certain characteristics. © The Author(s) 2013.

Harmonizing intelligence terminologies in business: Literature review

Directory of Open Access Journals (Sweden)

Sivave Mashingaidze

2014-11-01

Full Text Available The principal objective of this article is to do a literature review of different intelligence terminology with the aim of establishing the common attributes and differences, and to propose a universal and comprehensive definition of intelligence for common understanding amongst users. The findings showed that Competitive Intelligence has the broadest scope of intelligence activities covering the whole external operating environment of the company and targeting all levels of decision-making for instance; strategic intelligence, tactical intelligence and operative intelligence. Another terminology was found called Cyber IntelligenceTM which encompasses competitor intelligence, strategic intelligence, market intelligence and counterintelligence. In conclusion although CI has the broadest scope of intelligence and umbrella to many intelligence concepts, still Business Intelligence, and Corporate Intelligence are often used interchangeably as CI

Revisiting the Psychology of Intelligence Analysis: From Rational Actors to Adaptive Thinkers

Science.gov (United States)

Puvathingal, Bess J.; Hantula, Donald A.

2012-01-01

Intelligence analysis is a decision-making process rife with ambiguous, conflicting, irrelevant, important, and excessive information. The U.S. Intelligence Community is primed for psychology to lend its voice to the "analytic transformation" movement aimed at improving the quality of intelligence analysis. Traditional judgment and decision making…

Physics and financial economics (1776-2014): puzzles, Ising and agent-based models

Science.gov (United States)

Sornette, Didier

2014-06-01

This short review presents a selected history of the mutual fertilization between physics and economics—from Isaac Newton and Adam Smith to the present. The fundamentally different perspectives embraced in theories developed in financial economics compared with physics are dissected with the examples of the volatility smile and of the excess volatility puzzle. The role of the Ising model of phase transitions to model social and financial systems is reviewed, with the concepts of random utilities and the logit model as the analog of the Boltzmann factor in statistical physics. Recent extensions in terms of quantum decision theory are also covered. A wealth of models are discussed briefly that build on the Ising model and generalize it to account for the many stylized facts of financial markets. A summary of the relevance of the Ising model and its extensions is provided to account for financial bubbles and crashes. The review would be incomplete if it did not cover the dynamical field of agent-based models (ABMs), also known as computational economic models, of which the Ising-type models are just special ABM implementations. We formulate the ‘Emerging Intelligence Market Hypothesis’ to reconcile the pervasive presence of ‘noise traders’ with the near efficiency of financial markets. Finally, we note that evolutionary biology, more than physics, is now playing a growing role to inspire models of financial markets.

Physics and financial economics (1776-2014): puzzles, Ising and agent-based models.

Science.gov (United States)

Sornette, Didier

2014-06-01

This short review presents a selected history of the mutual fertilization between physics and economics--from Isaac Newton and Adam Smith to the present. The fundamentally different perspectives embraced in theories developed in financial economics compared with physics are dissected with the examples of the volatility smile and of the excess volatility puzzle. The role of the Ising model of phase transitions to model social and financial systems is reviewed, with the concepts of random utilities and the logit model as the analog of the Boltzmann factor in statistical physics. Recent extensions in terms of quantum decision theory are also covered. A wealth of models are discussed briefly that build on the Ising model and generalize it to account for the many stylized facts of financial markets. A summary of the relevance of the Ising model and its extensions is provided to account for financial bubbles and crashes. The review would be incomplete if it did not cover the dynamical field of agent-based models (ABMs), also known as computational economic models, of which the Ising-type models are just special ABM implementations. We formulate the 'Emerging Intelligence Market Hypothesis' to reconcile the pervasive presence of 'noise traders' with the near efficiency of financial markets. Finally, we note that evolutionary biology, more than physics, is now playing a growing role to inspire models of financial markets.

Handbook on Decision Making

CERN Document Server

Jain, Lakhmi C

2010-01-01

The present "Volume 1: Techniques and Applications" of the "Handbook on Decision Making" presents a useful collection of AI techniques, as well as other complementary methodologies, that are useful for the design and development of intelligent decision support systems. Application examples of how these intelligent decision support systems can be utilized to help tackle a variety of real-world problems in different domains, such as business, management, manufacturing, transportation and food industries, and biomedicine, are presented. The handbook includes twenty condensed c

STANFORD ARTIFICIAL INTELLIGENCE PROJECT.

Science.gov (United States)

ARTIFICIAL INTELLIGENCE , GAME THEORY, DECISION MAKING, BIONICS, AUTOMATA, SPEECH RECOGNITION, GEOMETRIC FORMS, LEARNING MACHINES, MATHEMATICAL MODELS, PATTERN RECOGNITION, SERVOMECHANISMS, SIMULATION, BIBLIOGRAPHIES.

Quarterly Financial Report

International Development Research Centre (IDRC) Digital Library (Canada)

acray

2011-06-30

Jun 30, 2011 ... 2 IDRC QUARTERLY FINANCIAL REPORT JUNE 2011. Consolidated .... spending on capacity-building projects as well as to management's decision to restrict capacity- building ...... The investments in financial institutions.

Financial satisfaction and financial stressors in marital satisfaction.

Science.gov (United States)

Archuleta, Kristy L; Britt, Sonya L; Tonn, Teresa J; Grable, John E

2011-04-01

Using a sample of 310 married respondents from one U.S. Midwestern state, a test was conducted to examine the association of financial satisfaction and financial stressors in a spouse's decision to stay married to the same person or leave the relationship. The role of demographic and socioeconomic variables, religiosity, psychological constructs, financial satisfaction, and financial stressors as factors influencing marital satisfaction was tested. Financial stressors were measured using a list of financial stressors adapted from the literature. Financial satisfaction was measured with a one-item scale. The Kansas Marital Satisfaction Scale was used as a validation tool to assess whether individuals would marry or not marry again. Religiosity and financial satisfaction were positively associated with marital satisfaction. A negative interaction between financial satisfaction and financial stressors was also noted. Findings suggest that respondents who are financially satisfied tend to be more stable in their marriages.

Intelligent environmental data warehouse

International Nuclear Information System (INIS)

Ekechukwu, B.

1998-01-01

Making quick and effective decisions in environment management are based on multiple and complex parameters, a data warehouse is a powerful tool for the over all management of massive environmental information. Selecting the right data from a warehouse is an important factor consideration for end-users. This paper proposed an intelligent environmental data warehouse system. It consists of data warehouse to feed an environmental researchers and managers with desire environmental information needs to their research studies and decision in form of geometric and attribute data for study area, and a metadata for the other sources of environmental information. In addition, the proposed intelligent search engine works according to a set of rule, which enables the system to be aware of the environmental data wanted by the end-user. The system development process passes through four stages. These are data preparation, warehouse development, intelligent engine development and internet platform system development. (author)

Decision Making Models in the Financial Market: A Study in the Light of Prospect Theory and Limited Rationality

OpenAIRE

Alex Diego Souza Queiroz; Marilia Oliveira dos Reis; Joseilton Silveira da Rocha

2016-01-01

The objective of this study was to determine whether the decision-making models present in Prospect Theory and the theory of limited rationality could help managers of financial institutions identify and control the emotions and rational limitations involved in the credit granting process in the financial market. To this end, a study was carried out with 17 bank managers as experimental group and 31 other managers from different areas as control group. Adopting a quantitative approach to rese...

Uncertainty management, spatial and temporal reasoning, and validation of intelligent environmental decision support systems

Science.gov (United States)

Sànchez-Marrè, Miquel; Gilbert, Karina; Sojda, Rick S.; Steyer, Jean Philippe; Struss, Peter; Rodríguez-Roda, Ignasi; Voinov, A.A.; Jakeman, A.J.; Rizzoli, A.E.

2006-01-01

There are inherent open problems arising when developing and running Intelligent Environmental Decision Support Systems (IEDSS). During daily operation of IEDSS several open challenge problems appear. The uncertainty of data being processed is intrinsic to the environmental system, which is being monitored by several on-line sensors and off-line data. Thus, anomalous data values at data gathering level or even uncertain reasoning process at later levels such as in diagnosis or decision support or planning can lead the environmental process to unsafe critical operation states. At diagnosis level or even at decision support level or planning level, spatial reasoning or temporal reasoning or both aspects can influence the reasoning processes undertaken by the IEDSS. Most of Environmental systems must take into account the spatial relationships between the environmental goal area and the nearby environmental areas and the temporal relationships between the current state and the past states of the environmental system to state accurate and reliable assertions to be used within the diagnosis process or decision support process or planning process. Finally, a related issue is a crucial point: are really reliable and safe the decisions proposed by the IEDSS? Are we sure about the goodness and performance of proposed solutions? How can we ensure a correct evaluation of the IEDSS? Main goal of this paper is to analyse these four issues, review some possible approaches and techniques to cope with them, and study new trends for future research within the IEDSS field.

Homeland Security Intelligence: To What End

Science.gov (United States)

2010-09-01

decision making is generous (Treverton & Gabbard , 2008; Reveron 2007). This literature commonly falls into roughly one of two categories, 1) the...Treverton, G.F. & Gabbard , C.B. (2008). Assessing the tradecraft of intelligence analysis. Arlington VA: RAND. Turner, M. (2005). Why secret intelligence

BUSINESS INTELLIGENCE INSTRUMENTS FOR HR MONITORING

Directory of Open Access Journals (Sweden)

Radulescu Magdalena

2009-05-01

Full Text Available Business Intelligence is the combination of the information from several sources, and presenting results in a form that can be used in taking business decisions. Processed and presented in an intelligent way, this information gives the company the advanta

Measuring the Impacts of Financial Literacy: Challenges for Community-Based Financial Education

Science.gov (United States)

Collins, J. Michael; Holden, Karen C.

2014-01-01

This chapter addresses financial education across the lifespan, which has the potential to enhance adult financial capability, yet methodological barriers and a lack of robust measures have hampered the ability to identify and measure the effects of educational programs on financial decisions and behavior.

The role of soft computing in intelligent machines.

Science.gov (United States)

de Silva, Clarence W

2003-08-15

An intelligent machine relies on computational intelligence in generating its intelligent behaviour. This requires a knowledge system in which representation and processing of knowledge are central functions. Approximation is a 'soft' concept, and the capability to approximate for the purposes of comparison, pattern recognition, reasoning, and decision making is a manifestation of intelligence. This paper examines the use of soft computing in intelligent machines. Soft computing is an important branch of computational intelligence, where fuzzy logic, probability theory, neural networks, and genetic algorithms are synergistically used to mimic the reasoning and decision making of a human. This paper explores several important characteristics and capabilities of machines that exhibit intelligent behaviour. Approaches that are useful in the development of an intelligent machine are introduced. The paper presents a general structure for an intelligent machine, giving particular emphasis to its primary components, such as sensors, actuators, controllers, and the communication backbone, and their interaction. The role of soft computing within the overall system is discussed. Common techniques and approaches that will be useful in the development of an intelligent machine are introduced, and the main steps in the development of an intelligent machine for practical use are given. An industrial machine, which employs the concepts of soft computing in its operation, is presented, and one aspect of intelligent tuning, which is incorporated into the machine, is illustrated.

The prediction of breast cancer biopsy outcomes using two CAD approaches that both emphasize an intelligible decision process

International Nuclear Information System (INIS)

Elter, M.; Schulz-Wendtland, R.; Wittenberg, T.

2007-01-01

Mammography is the most effective method for breast cancer screening available today. However, the low positive predictive value of breast biopsy resulting from mammogram interpretation leads to approximately 70% unnecessary biopsies with benign outcomes. To reduce the high number of unnecessary breast biopsies, several computer-aided diagnosis (CAD) systems have been proposed in the last several years. These systems help physicians in their decision to perform a breast biopsy on a suspicious lesion seen in a mammogram or to perform a short term follow-up examination instead. We present two novel CAD approaches that both emphasize an intelligible decision process to predict breast biopsy outcomes from BI-RADS findings. An intelligible reasoning process is an important requirement for the acceptance of CAD systems by physicians. The first approach induces a global model based on decison-tree learning. The second approach is based on case-based reasoning and applies an entropic similarity measure. We have evaluated the performance of both CAD approaches on two large publicly available mammography reference databases using receiver operating characteristic (ROC) analysis, bootstrap sampling, and the ANOVA statistical significance test. Both approaches outperform the diagnosis decisions of the physicians. Hence, both systems have the potential to reduce the number of unnecessary breast biopsies in clinical practice. A comparison of the performance of the proposed decision tree and CBR approaches with a state of the art approach based on artificial neural networks (ANN) shows that the CBR approach performs slightly better than the ANN approach, which in turn results in slightly better performance than the decision-tree approach. The differences are statistically significant (p value <0.001). On 2100 masses extracted from the DDSM database, the CRB approach for example resulted in an area under the ROC curve of A(z)=0.89±0.01, the decision-tree approach in A(z)=0.87±0

Decentralisation and health services delivery in Tanzania: Analysis of decision space in planning, allocation, and use of financial resources.

Science.gov (United States)

Kigume, Ramadhani; Maluka, Stephen; Kamuzora, Peter

2018-04-01

While decentralisation of health systems has been on the policy agenda in low-income and middle-income countries since the 1970s, many studies have focused on understanding who has more decision-making powers but less attention is paid to understand what those powers encompass. Using the decision space approach, this study aimed to understand the amount of decision-making space transferred from the central government to institutions at the periphery in the decentralised health system in Tanzania. The findings of this study indicated that the decentralisation process in Tanzania has provided authorities with a range of decision-making space. In the areas of priority setting and planning, district health authorities had moderate decision space. However, in the financial resource allocation and expenditure of funds from the central government, the districts had narrow decision-making space. The districts, nevertheless, had wider decision-making space in mobilising and using locally generated financial resources. However, the ability of the districts to allocate and use locally generated resources was constrained by bureaucratic procedures of the central government. The study concludes that decentralisation by devolution which is being promoted in the policy documents in Tanzania is yet to be realised at the district and local levels. The study recommends that the central government should provide more space to the decentralised district health systems to incorporate locally defined priorities in the district health plans. Copyright © 2018 John Wiley & Sons, Ltd.

The need for operating guidelines and a decision making framework applicable to the discovery of non-intelligent extraterrestrial life

Science.gov (United States)

Race, Margaret S.; Randolph, Richard O.

While formal principles have been adopted for the eventuality of detecting intelligent life in our galaxy (SETI Principles), no such guidelines exist for the discovery of non-intelligent extraterrestrial life within the solar system. Current scientifically based planetary protection policies for solar system exploration address how to undertake exploration, but do not provide clear guidance on what to do if and when life is detected. Considering that martian life could be detected under several different robotic and human exploration scenarios in the coming decades, it is appropriate to anticipate how detection of non-intelligent, microbial life could impact future exploration missions and activities, especially on Mars. This paper discusses a proposed set of interim guidelines based loosely on the SETI Principles and addresses issues extending from the time of discovery through future handling and treatment of extraterrestrial life on Mars or elsewhere. Based on an analysis of both scientific and ethical considerations, there is a clear need for developing operating protocols applicable at the time of discovery and a decision making framework that anticipates future missions and activities, both robotic and human. There is growing scientific confidence that the discovery of extraterrestrial life in some form is nearly inevitable. If and when life is discovered beyond Earth, non-scientific dimensions may strongly influence decisions about the nature and scope of future missions and activities. It is appropriate to encourage international discussion and consideration of the issues prior to an event of such historical significance.

The California Law Enforcement Community’s Intelligence-Led Policing Capacity

Science.gov (United States)

2010-12-01

intelligence product used for sound decision making , strategic targeting, and more efficient resource allocation, whereas lack of clarity and the...providing law enforcement executives with actionable intelligence products for sound decision making , strategic targeting, and efficient resource

Emotional Intelligence and School Leadership

Science.gov (United States)

Gray, David

2009-01-01

Emotional intelligence is the cornerstone of every decision a principal makes; solving problems and making judgments are part of a leader's system of values and beliefs. Mayer and Salovney (1997) described emotionally intelligent leaders as those who are able to perceive and understand emotions and to regulate emotions to foster emotional and…

TAX RESEARCH Financial Accounting versus Tax Accounting - Tax Rules’ Impact on Investment Decisions

OpenAIRE

Dr.Sc. Skender Ahmeti; Dr.Sc. Muhamet Aliu; MSc. Alban Elshani; Yllka Ahmeti

2014-01-01

This paper provides guidance for all those interested in research related to tax. In the study are included three main areas dealing with taxes and about taxes: (1) the role of information in corporation tax expenditures under the rules and laws of the country against financial statements according to international accounting standards, (2) case study PTK; how much effective tax and tax on extra profit has it paid (3) the impact of tax rules on investment decisions - the reasons and profits o...

Intelligent systems

CERN Document Server

Irwin, J David

2011-01-01

Technology has now progressed to the point that intelligent systems are replacing humans in the decision making processes as well as aiding in the solution of very complex problems. In many cases intelligent systems are already outperforming human activities. Artificial neural networks are not only capable of learning how to classify patterns, such images or sequence of events, but they can also effectively model complex nonlinear systems. Their ability to classify sequences of events is probably more popular in industrial applications where there is an inherent need to model nonlinear system

Physics and financial economics (1776–2014): puzzles, Ising and agent-based models

International Nuclear Information System (INIS)

Sornette, Didier

2014-01-01

This short review presents a selected history of the mutual fertilization between physics and economics—from Isaac Newton and Adam Smith to the present. The fundamentally different perspectives embraced in theories developed in financial economics compared with physics are dissected with the examples of the volatility smile and of the excess volatility puzzle. The role of the Ising model of phase transitions to model social and financial systems is reviewed, with the concepts of random utilities and the logit model as the analog of the Boltzmann factor in statistical physics. Recent extensions in terms of quantum decision theory are also covered. A wealth of models are discussed briefly that build on the Ising model and generalize it to account for the many stylized facts of financial markets. A summary of the relevance of the Ising model and its extensions is provided to account for financial bubbles and crashes. The review would be incomplete if it did not cover the dynamical field of agent-based models (ABMs), also known as computational economic models, of which the Ising-type models are just special ABM implementations. We formulate the ‘Emerging Intelligence Market Hypothesis’ to reconcile the pervasive presence of ‘noise traders’ with the near efficiency of financial markets. Finally, we note that evolutionary biology, more than physics, is now playing a growing role to inspire models of financial markets. (key issues reviews)

Artificial Intelligence (AI), Operations Research (OR), and Decision Support Systems (DSS): A conceptual framework

Science.gov (United States)

Parnell, Gregory S.; Rowell, William F.; Valusek, John R.

1987-01-01

In recent years there has been increasing interest in applying the computer based problem solving techniques of Artificial Intelligence (AI), Operations Research (OR), and Decision Support Systems (DSS) to analyze extremely complex problems. A conceptual framework is developed for successfully integrating these three techniques. First, the fields of AI, OR, and DSS are defined and the relationships among the three fields are explored. Next, a comprehensive adaptive design methodology for AI and OR modeling within the context of a DSS is described. These observations are made: (1) the solution of extremely complex knowledge problems with ill-defined, changing requirements can benefit greatly from the use of the adaptive design process, (2) the field of DSS provides the focus on the decision making process essential for tailoring solutions to these complex problems, (3) the characteristics of AI, OR, and DSS tools appears to be converging rapidly, and (4) there is a growing need for an interdisciplinary AI/OR/DSS education.

Financial performance as a decision criterion of credit scoring models selection [doi: 10.21529/RECADM.2017004

Directory of Open Access Journals (Sweden)

Rodrigo Alves Silva

2017-09-01

Full Text Available This paper aims to show the importance of the use of financial metrics in decision-making of credit scoring models selection. In order to achieve such, we considered an automatic approval system approach and we carried out a performance analysis of the financial metrics on the theoretical portfolios generated by seven credit scoring models based on main statistical learning techniques. The models were estimated on German Credit dataset and the results were analyzed based on four metrics: total accuracy, error cost, risk adjusted return on capital and Sharpe index. The results show that total accuracy, widely used as a criterion for selecting credit scoring models, is unable to select the most profitable model for the company, indicating the need to incorporate financial metrics into the credit scoring model selection process. Keywords Credit risk; Model’s selection; Statistical learning.

INFORMATION ASSURANCE - INTELLIGENCE - INFORMATION SUPERIORITY RELATIONSHIP WITHIN NATO OPERATIONS

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Gheorghe BOARU, Ioan-Mihai ILIEŞ

2011-01-01

Full Text Available There is a tight relationship between information assurance, the intelligence cycle and information superiority within NATO operations. The intelligence cycle has a discrete architecture and provides on-time and relevant intelligence products to the joint force commanders and to other authorized users in a specifi c joint area of operations. The intelligence cycle must follow the evolution of the operation. A permanent intelligence estimate will be performed during the military decision making process and operations execution. Information superiority is one of the most powerful intelligence cycle achievements. and decisively infuences the success of NATO joint operations. Information superiority must be preserved and enhanced through information assurance. Information assurance is an information operation that must be planned by the military in charge of operation security or by non-military experts, executed by all personnel during the entire intelligence cycle life time and employed during the planning and execution of NATO joint operations.

Artificial intelligence based decision support for trumpeter swan management

Science.gov (United States)

Sojda, Richard S.

2002-01-01

The number of trumpeter swans (Cygnus buccinator) breeding in the Tri-State area where Montana, Idaho, and Wyoming come together has declined to just a few hundred pairs. However, these birds are part of the Rocky Mountain Population which additionally has over 3,500 birds breeding in Alberta, British Columbia, Northwest Territories, and Yukon Territory. To a large degree, these birds seem to have abandoned traditional migratory pathways in the flyway. Waterfowl managers have been interested in decision support tools that would help them explore simulated management scenarios in their quest towards reaching population recovery and the reestablishment of traditional migratory pathways. I have developed a decision support system to assist biologists with such management, especially related to wetland ecology. Decision support systems use a combination of models, analytical techniques, and information retrieval to help develop and evaluate appropriate alternatives. Swan management is a domain that is ecologically complex, and this complexity is compounded by spatial and temporal issues. As such, swan management is an inherently distributed problem. Therefore, the ecological context for modeling swan movements in response to management actions was built as a multiagent system of interacting intelligent agents that implements a queuing model representing swan migration. These agents accessed ecological knowledge about swans, their habitats, and flyway management principles from three independent expert systems. The agents were autonomous, had some sensory capability, and could respond to changing conditions. A key problem when developing ecological decision support systems is empirically determining that the recommendations provided are valid. Because Rocky Mountain trumpeter swans have been surveyed for a long period of time, I was able to compare simulated distributions provided by the system with actual field observations across 20 areas for the period 1988

Challenging problems and solutions in intelligent systems

CERN Document Server

Grzegorzewski, Przemysław; Kacprzyk, Janusz; Owsiński, Jan; Penczek, Wojciech; Zadrożny, Sławomir

2016-01-01

This volume presents recent research, challenging problems and solutions in Intelligent Systems– covering the following disciplines: artificial and computational intelligence, fuzzy logic and other non-classic logics, intelligent database systems, information retrieval, information fusion, intelligent search (engines), data mining, cluster analysis, unsupervised learning, machine learning, intelligent data analysis, (group) decision support systems, intelligent agents and multi-agent systems, knowledge-based systems, imprecision and uncertainty handling, electronic commerce, distributed systems, etc. The book defines a common ground for sometimes seemingly disparate problems and addresses them by using the paradigm of broadly perceived intelligent systems. It presents a broad panorama of a multitude of theoretical and practical problems which have been successfully dealt with using the paradigm of intelligent computing.

Human-in-the-loop Artificial Intelligence

OpenAIRE

Zanzotto, Fabio Massimo

2017-01-01

Little by little, newspapers are revealing the bright future that Artificial Intelligence (AI) is building. Intelligent machines will help everywhere. However, this bright future has a dark side: a dramatic job market contraction before its unpredictable transformation. Hence, in a near future, large numbers of job seekers will need financial support while catching up with these novel unpredictable jobs. This possible job market crisis has an antidote inside. In fact, the rise of AI is sustai...

Traditional Enterprise Business Intelligence Software Compared to Software as a Service Business Intelligence

Directory of Open Access Journals (Sweden)

Marian Pompiliu CRISTESCU

2016-01-01

Full Text Available The focus of this paper is on the one hand on the importance of business intelligence in large and medium-sized businesses and on the other side on the evaluation and implementation of Business Intelligence. It shows how companies make better and faster decisions regarding their customers, partners and operations by converting data into valuable business information. The paper describes how to bring business intelligence information, people and technology together to help to create a successful business strategy. The conclusion of the paper is the assessment of the possibility of business intelligence to develop projects in large and medium-sized companies and the discussion of the possible alternatives with respect to the different functions.

Computational intelligence in biomedical imaging

CERN Document Server

2014-01-01

This book provides a comprehensive overview of the state-of-the-art computational intelligence research and technologies in biomedical images with emphasis on biomedical decision making. Biomedical imaging offers useful information on patients’ medical conditions and clues to causes of their symptoms and diseases. Biomedical images, however, provide a large number of images which physicians must interpret. Therefore, computer aids are demanded and become indispensable in physicians’ decision making. This book discusses major technical advancements and research findings in the field of computational intelligence in biomedical imaging, for example, computational intelligence in computer-aided diagnosis for breast cancer, prostate cancer, and brain disease, in lung function analysis, and in radiation therapy. The book examines technologies and studies that have reached the practical level, and those technologies that are becoming available in clinical practices in hospitals rapidly such as computational inte...

Environmental Performance and Financing Decisions Impact on Sustainable Financial Development of Chinese Environmental Protection Enterprises

Directory of Open Access Journals (Sweden)

Kai Quan Zhang

2017-12-01

Full Text Available Environmental protection firms need to improve their ability to access financing while maintaining good economic performance under mounting environmental pressures. After the integration of trade-off and stakeholder theories, we have constructed a number of mathematical models to investigate the relationship among financing decisions, environmental performance (EP, and economic performance. Unbalanced panel data from environmental protection companies listed on Chinese stock exchanges from 2007 to 2016 were collected and analyzed. Our results have confirmed that debt financing has a significant impact on short- and long-term economic performance. Firms prefer long-term debt over short-term debt to improve their financial sustainability. Internal financing is positively related to performance because the cost of financing is lower. Environmental performance can cause extra financial burden in the short run, but will improve stakeholder relations and profitability in the long run. Our study suggests that environmental performance affects the relationship between financing decisions and economic performance. When EP initiatives are high, debt financing has a greater negative influence on short-term performance, and the effect on long-term performance is mitigated. High EP also reduces the impact of internal financing on performance.

Financial accounting for radiology executives.

Science.gov (United States)

Seidmann, Abraham; Mehta, Tushar

2005-03-01

The authors review the role of financial accounting information from the perspective of a radiology executive. They begin by introducing the role of pro forma statements. They discuss the fundamental concepts of accounting, including the matching principle and accrual accounting. The authors then explore the use of financial accounting information in making investment decisions in diagnostic medical imaging. The paper focuses on critically evaluating the benefits and limitations of financial accounting for decision making in a radiology practice.

Financial mathematics

CERN Document Server

Jothi, A Lenin

2009-01-01

Financial services, particularly banking and insurance services is the prominent sector for the development of a nation. After the liberalisation of financial sector in India, the scope of getting career opportunities has been widened. It is heartening to note that various universities in India have introduced professional courses on banking and insurance. A new field of applied mathematics has come into prominence under the name of Financial Mathematics. Financial mathematics has attained much importance in the recent years because of the role played by mathematical concepts in decision - m

Financial Literacy, Schooling, and Wealth Accumulation. NBER Working Paper No. 16452

Science.gov (United States)

Behrman, Jere R.; Mitchell, Olivia S.; Soo, Cindy; Bravo, David

2010-01-01

Financial literacy and schooling attainment have been linked to household wealth accumulation. Yet prior findings may be biased due to noisy measures of financial literacy and schooling, as well as unobserved factors such as ability, intelligence, and motivation that could enhance financial literacy and schooling but also directly affect wealth…

Assessing the Effects of Financial Literacy on Patient Engagement.

Science.gov (United States)

Meyer, Melanie A; Hudak, Ronald P

2016-07-01

We investigated the relationship between financial literacy and patient engagement while considering the possible interaction effects due to patient financial responsibility and patient-physician shared decision making, and the impact of personal attributes. Participants consisted of an Internet-based sample of American adults (N = 160). Hierarchical multiple linear regression analysis was conducted to examine the relationship of the study variables on patient engagement. We found that patient financial responsibility (β = -.19, p financial literacy and patient engagement; moreover, the moderation effects of patient financial responsibility and shared decision making with financial literacy also were not statistically significant. Increasing patient financial responsibility and patient-physician shared decision making can impact patient engagement. Understanding the predictors of patient engagement and the factors that influence financial behaviors may allow for the development of interventions to enable patients to make better healthcare decisions, and ultimately, improve health outcomes.

An intelligent system for helping petroleum industry risk management decision making

Energy Technology Data Exchange (ETDEWEB)

Barreto, Mara M.G.; Ebecken, Nelson F.F. [Universidade Federal, Rio de Janeiro, RJ (Brazil). Coordenacao dos Programas de Pos-graduacao de Engenharia

1998-07-01

The objective of this paper is to present an intelligent system for helping in decision making about risk analysis in petroleum industry management. Such a system supports explicit inconsistencies in its knowledge bases, and is able to solve it by means of a decision's procedure, in which Fuzzy Logic is used. Expert Systems which knowledge bases carry out explicitly inconsistencies are called paraconsistent systems and were initially proposed by Da Costa and Subrahmanian. The defuzzyfication process of a paraconsistent model was already suggested by Barreto, Ebecken and Clement, and established by Barreto and Ebecken. In Barreto, Ebecken and Clemente show an application of this model for helping in decision making in a business situation. The system that will be presented here is a simulation of many possible applications of this model, and helps the analyses of risk business petroleum project's investment, and, it is desirable, can point out some possibilities of getting out difficulties when the risk is increased. In the introduction, we define some risk result's indicators to be considered, such as, petroleum business project duration, staffing, priority; and we define the system's logical structure. In the Overriding Part, firstly, we show the implemented system's , simulation, how it works, how to get outputs from the given and how to analyze the final results, and explicit the methods used in situations where the inconsistencies appear giving comments about the critical situations. Finally, in the conclusion, we comment the coherence of results, and give comments about some others applications of this kind of systems. (author)

Salary and Decision Making : Relationship Between Pay and Focus on Financial Profitability and Prosociality in an Organizational Context

NARCIS (Netherlands)

Jordan, J.

This investigation examined the relationship between organizationally based financial incentives and a focus on profit vs. prosociality during decision making. Participants were 84 managers from a Fortune 200 corporation. Managers read a vignette containing a dilemma and freely generated issues that

Developing Information Systems for Competitive Intelligence Support.

Science.gov (United States)

Hohhof, Bonnie

1994-01-01

Discusses issues connected with developing information systems for competitive intelligence support; defines the elements of an effective competitive information system; and summarizes issues affecting system design and implementation. Highlights include intelligence information; information needs; information sources; decision making; and…

ECONOMIC INTELLIGENCE - THEORETICAL AND PRACTICAL ASPECTS

Directory of Open Access Journals (Sweden)

VIRGIL - ION POPOVICI

2014-12-01

Full Text Available Economic Intelligence (EI may be a solution in knowledge management as involves collecting, evaluating, processing, analysis and dissemination of economic data within organizations. The ultimate goal of economic intelligence (EI is to take advantage of this opportunity to develop and improve methods for identifying relevant information sources, analysis of information collected and manipulation, to give the user all the necessary decisions. Scope of the Economic Intelligence focused on information available outside the organization, covering wide areas from technology to market or legal issues. Economic Intelligence (EI is closely related to other approaches to information management, and knowledge management and business intelligence, excelling in the use of software tools.

The big data processing platform for intelligent agriculture

Science.gov (United States)

Huang, Jintao; Zhang, Lichen

2017-08-01

Big data technology is another popular technology after the Internet of Things and cloud computing. Big data is widely used in many fields such as social platform, e-commerce, and financial analysis and so on. Intelligent agriculture in the course of the operation will produce large amounts of data of complex structure, fully mining the value of these data for the development of agriculture will be very meaningful. This paper proposes an intelligent data processing platform based on Storm and Cassandra to realize the storage and management of big data of intelligent agriculture.

Discussion on technical intelligence of nuclear power industry

International Nuclear Information System (INIS)

Chen Ming

2010-01-01

The very Paper introduces the contemporary challenges faced by the profession of technical intelligence on nuclear power, and expatiates the functions of technical intelligence such as sources of experience feedback, background information and supports for decision-making. Afterwards, the Paper explains characteristics of technical intelligence and its working methods, i.e., quantitative changes to reach qualitative changes, approve-negate-approve and oppositeness unity of comprehensiveness and limitation of technical intelligence. (authors)

Financial transparency in Britain’s secrecy jurisdictions has just got a whole lot murkier following the UK’s decision to leave the EU

OpenAIRE

Young, M. A.

2016-01-01

In light of recent political events, this commentary aims to provoke and promote a discussion concerning the effect of the UK’s decision to leave the EU, on its ability to regulate financial crime in the Overseas Territories and Crown Dependencies which operate as financial secrecy havens.

Detection of cyst using image segmentation and building knowledge-based intelligent decision support system as an aid to telemedicine

Science.gov (United States)

Janet, J.; Natesan, T. R.; Santhosh, Ramamurthy; Ibramsha, Mohideen

2005-02-01

An intelligent decision support tool to the Radiologist in telemedicine is described. Medical prescriptions are given based on the images of cyst that has been transmitted over computer networks to the remote medical center. The digital image, acquired by sonography, is converted into an intensity image. This image is then subjected to image preprocessing which involves correction methods to eliminate specific artifacts. The image is resized into a 256 x 256 matrix by using bilinear interpolation method. The background area is detected using distinct block operation. The area of the cyst is calculated by removing the background area from the original image. Boundary enhancement and morphological operations are done to remove unrelated pixels. This gives us the cyst volume. This segmented image of the cyst is sent to the remote medical center for analysis by Knowledge based artificial Intelligent Decision Support System (KIDSS). The type of cyst is detected and reported to the control mechanism of KIDSS. Then the inference engine compares this with the knowledge base and gives appropriate medical prescriptions or treatment recommendations by applying reasoning mechanisms at the remote medical center.

Cultural Intelligence (CQ) in MBA Curricula

Science.gov (United States)

Ahn, Mark J.; Ettner, Larry

2013-01-01

Purpose: The purpose of this paper is to investigate the role of cultural intelligence in MBA curricula. Shaping global corporate culture that manifests itself in powerful-shared values, group behavior, and persists despite changes in-group membership is decisive to organizational performance. In turn, cultural intelligence (CQ), defined, as an…

Intelligent Information Systems Institute

National Research Council Canada - National Science Library

Gomes, Carla

2004-01-01

...) at Cornell during the first three years of operation. IISI's mandate is threefold: To perform and stimulate research in computational and data-intensive methods for intelligent decision making systems...

Household financial behavior

NARCIS (Netherlands)

Brounen, Dirk; Koedijk, Kees; Pownall, Rachel

2016-01-01

Greater personal responsibility toward financial decision-making is being advocated on a global basis. Individuals and households are encouraged to take a more active approach to personal finance. In this paper, we examine behavioral factors, which lead households toward savings and financial

Financial Mechanism for the Implementation of Strategic and Operational Financial Decisions of Modern Enterprises

Science.gov (United States)

Nikeriasova, Veronika V.; Ordov, Konstantin V.; Khvostenko, Oleg A.

2016-01-01

In modern conditions of world depression, it is urgent for increasing the efficiency of the financial mechanism. Company's future depends on the correct choice of the financial mechanism strategy. The article deals with the issues of improving the financial mechanism of enterprises in the implementation of strategic and operational financial…

Intelligent system for accident identification in NPP

International Nuclear Information System (INIS)

Hernandez, J.L.

1998-01-01

Accidental situations in NPP are great concern for operators, the facility, regulatory bodies and the environmental. This work proposes a design of intelligent system aimed to assist the operator in the process of decision making initiator events with higher relative contribution to the reactor core damage occur. The intelligent System uses the results of the pre-operational Probabilistic safety Assessment and the Thermal hydraulic Safety Analysis of the NPP Juragua as source for building its knowledge base. The nucleus of the system is presented as a design of an intelligent hybrid from the combination of the artificial intelligence techniques fuzzy logic and artificial neural networks. The system works with variables from the process of the first circuit, second circuit and the containment and it is presented as a model for the integration of safety analyses in the process of decision making by the operator when tackling with accidental situations

Interfacing An Intelligent Decision-Maker To A Real-Time Control System

Science.gov (United States)

Evers, D. C.; Smith, D. M.; Staros, C. J.

1984-06-01

This paper discusses some of the practical aspects of implementing expert systems in a real-time environment. There is a conflict between the needs of a process control system and the computational load imposed by intelligent decision-making software. The computation required to manage a real-time control problem is primarily concerned with routine calculations which must be executed in real time. On most current hardware, non-trivial AI software should not be forced to operate under real-time constraints. In order for the system to work efficiently, the two processes must be separated by a well-defined interface. Although the precise nature of the task separation will vary with the application, the definition of the interface will need to follow certain fundamental principles in order to provide functional separation. This interface was successfully implemented in the expert scheduling software currently running the automated chemical processing facility at Lockheed-Georgia. Potential applications of this concept in the areas of airborne avionics and robotics will be discussed.

Financial literacy: Do people know the ABCs of finance?

Science.gov (United States)

Lusardi, Annamaria

2015-04-01

Increasingly, individuals are in charge of their own financial security and are confronted with ever more complex financial instruments. However, there is evidence that many individuals are not well-equipped to make sound saving decisions. This article looks at financial literacy, which is defined as the ability to process economic information and make informed decisions about financial planning, wealth accumulation, debt, and pensions. Failure to plan for retirement, lack of participation in the stock market, and poor borrowing behavior can all be linked to ignorance of basic financial concepts. Financial literacy impacts financial decision making, with implications that apply to individuals, communities, countries, and society as a whole. Given the lack of financial literacy among the population, it may be important to remedy it by adding financial literacy to the school curriculum. © The Author(s) 2015.

Business and Social Behaviour Intelligence Analysis Using PSO

OpenAIRE

Vinay S Bhaskar; Abhishek Kumar Singh; Jyoti Dhruw; Anubha Parashar; Mradula Sharma

2014-01-01

The goal of this paper is to elaborate swarm intelligence for business intelligence decision making and the business rules management improvement. The paper introduces the decision making model which is based on the application of Artificial Neural Networks (ANNs) and Particle Swarm Optimization (PSO) algorithm. Essentially the business spatial data illustrate the group behaviors. The swarm optimization, which is highly influenced by the behavior of creature, performs in group. The Spatial dat...

PREMISES OF BEHAVIORAL FINANCE IN RATIONAL DECISION-MAKING

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Laurentiu Droj

2016-07-01

Full Text Available One cannot separate decision from psychology of human being. People see world by perception and this leads to various ways of understanding even the most concrete or certain things. Financial literature reflects the subjective nature of human being in making decisions by classifying decision-making process into being 'rationally' oriented or the opposite, 'irrational', according to individual’s attitude towards risk – 'appetite' or 'aversion'. Process of understanding risk associated with future financial returns implies attaching mental probabilities to it. This activity is always affected by human nature of agents that take financial decisions, therefore bearing risk. Psychological factors such as perception, framing effect, information asymmetry, irrationality, emotions are accompanying every financial decision. Paper intends to study the direct relationship between psychological traits of a human being playing the role of a decisional agent in financial context. Financial decisions are always accompanied by the notion of probability in defining what we call as 'expected' returns that translate into risk associated with financial investments. Empirical analysis done on the financial market reflects that agents use their perception on risk of gaining or losing from a certain financial transaction to decide whether to invest or not. The notion of 'expected utility' has been complementary used with the one of 'prospect value' as financial literature evolved over time and researchers brought new insights into the mechanism of financial decision. This paper studies direct relationship between psychological traits of a human being according to classical and rational decision-making process in the light of the prospect theory and risk attitude regarding financial outcome of decisions. In this sense, an econometric model is tested on the international financial market in order to find out what kind of subjective factors lie hidden in an investor

Childhood roots of financial literacy

OpenAIRE

Grohmann, Antonia; Kouwenberg, Roy; Menkhoff, Lukas

2015-01-01

Financial literacy predicts informed financial decisions, but what explains financial literacy? We use the concept of financial socialization and aim to represent three major agents of financial socialization: family, school and work. Thus we compile twelve relevant childhood characteristics in a new survey study and examine their relation to financial literacy, while controlling for established socio-demographic characteristics. We find in a mediation analysis that both family and school pos...

Survey research on whether taxes affect decisions of Slovak managers on cross-border financial restructuring operations

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Jana Kubicová

2017-06-01

Full Text Available This paper main question is whether decisions of Slovak companies about cross-border financial restructuring are affected by taxes. Using a questionnaire survey we investigated the opinions of Slovak companies’ managers on the selected tax provisions related to cross-border transactions. The aim was to determine whether taxes represent a major obstacle for cross-border financial restructuring. We have extracted the factors by means of exploratory factor analysis, then we have verified the differences in the identified factors between the companies of different size and level of indebtedness, and by employing logistic regression we have investigated the dependence between performing cross-border restructuring and the identified tax factors. We concluded that Slovak companies perform cross-border restructurings that are currently also tax-motivated. The intended changes of tax provisions that facilitate international tax planning will have adverse impact on motivation to perform cross-border financial restructuring operations by Slovak companies.

Checkerboard--A Way to Financial Awareness.

Science.gov (United States)

Dawson, Rod

1986-01-01

Describes Checkerboard, a game-like exercise designed to teach financial awareness, control, and appraisal to managers and reinforce the principle that all people in managerial positions make decisions, all of which incur costs and generate benefits. Students are guided by discovery and discussion toward improved financial decision making. (MBR)

Model of key success factors for Business Intelligence implementation

OpenAIRE

Peter Mesaros; Tomas Mandicak; Daniela Mackova; Stefan Carnicky; Martina Habinakova; Marcela Spisakova

2016-01-01

New progressive technologies recorded growth in every area. Information-communication technologies facilitate the exchange of information and it facilitates management of everyday activities in enterprises. Specific modules (such as Business Intelligence) facilitate decision-making. Several studies have demonstrated the positive impact of Business Intelligence to decision-making. The first step is to put in place the enterprise. The implementation process is influenced by many factors. This a...

Intelligent Distributed Computing VI : Proceedings of the 6th International Symposium on Intelligent Distributed Computing

CERN Document Server

Badica, Costin; Malgeri, Michele; Unland, Rainer

2013-01-01

This book represents the combined peer-reviewed proceedings of the Sixth International Symposium on Intelligent Distributed Computing -- IDC~2012, of the International Workshop on Agents for Cloud -- A4C~2012 and of the Fourth International Workshop on Multi-Agent Systems Technology and Semantics -- MASTS~2012. All the events were held in Calabria, Italy during September 24-26, 2012. The 37 contributions published in this book address many topics related to theory and applications of intelligent distributed computing and multi-agent systems, including: adaptive and autonomous distributed systems, agent programming, ambient assisted living systems, business process modeling and verification, cloud computing, coalition formation, decision support systems, distributed optimization and constraint satisfaction, gesture recognition, intelligent energy management in WSNs, intelligent logistics, machine learning, mobile agents, parallel and distributed computational intelligence, parallel evolutionary computing, trus...

CONSIDERATIONS REGARDING FINANCIAL STABILITY

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MERCEA PATRICIA AMALIA

2018-02-01

Full Text Available International economic conditions are projected to have a favorable path in 2018. Thus, accelerating investment in infrastructure and real estate in China, as well as expectations of fiscal loosening in the United States, lead to an increased expectation for enhancement of global trade flows and to strengthen investor confidence. Instead, Britain's decision to leave the European Union, as well as political uncertainty in some euro-zone countries, may cause temporary distortions but also implications for economies in the european region. On the other hand, the divergence of the Federal Reserve and the European Central Bank's monetary policies, as the US expects further increases in interest rates, can be reflected in the activity of the government bond market as a result of the reorientation of investors to assets with higher yield, a trend amplified by the context of the economic environment with low interest rates. Recent developments in the field of financial technology innovation are an important challenge for conventional financial market (payment and settlement infrastructures, especially in the context of multiple public and private initiatives and projects developed over the last few years. The digitization of financial services is an international concern due to the complexity of this phenomenon, and the lack of harmonized regulations and / or standards in the field. On the one hand, technological innovation in the field of payment systems has the potential to create a number of social benefits by improving access to financial services (financial inclusion. On the other hand, the integration of new technologies in the financial and banking field may imply additional information security risks, especially on payment and settlement systems. Financial technology innovation projects have also been developed by central banks in Europe, but also in America and Asia (for example in the UK, the Netherlands, Sweden, Canada, China and India. They

The actual challenges of financial literacy

Directory of Open Access Journals (Sweden)

Mitchell Jan W.

2016-01-01

Full Text Available In our always-evolving world, financial literacy and inclusion are crucial in the development of sustainable welfare and a more transparent and fairer society. We cannot forget that the subprime mortgage crisis of 2008 that has continued across the world to this day has financial illiteracy as one of the most aggravating factors. The main challenge for many consumers worldwide is that the requirements of adequate financial literacy skills have been steadily increasing over time. Individuals have to take a wide range of financial decisions and unfortunately, they sometimes overlook or simply do not know the risk attached with the decisions they are making until it is too late. The main challenges for financial literacy at the micro-level, meso-level, and macro-level are over deference to the financial industry, lack of financial knowledge, overconfidence about financial knowledge, lack of government initiatives, frameworks and regulations, lack of life-cycle planning and interesting and fascinating ways to teach financial literacy skills.

Decision Exploration Lab : A Visual Analytics Solution for Decision Management

NARCIS (Netherlands)

Broeksema, Bertjan; Baudel, Thomas; Telea, Alex; Crisafulli, Paolo

2013-01-01

We present a visual analytics solution designed to address prevalent issues in the area of Operational Decision Management (ODM). In ODM, which has its roots in Artificial Intelligence (Expert Systems) and Management Science, it is increasingly important to align business decisions with business

Airline Applications of Business Intelligence Systems

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Mihai ANDRONIE

2015-09-01

Full Text Available Airline industry is characterized by large quantities of complex, unstructured and rapid changing data that can be categorized as big data, requiring specialized analysis tools to explore it with the purpose of obtaining useful knowledge as decision support for companies that need to fundament their activities and improve the processes they are carrying on. In this context, business intelligence tools are valuable instruments that can optimally process airline related data so that the activities that are conducted can be optimized to maximize profits, while meeting customer requirements. An airline company that has access to large volumes of data (stored into conventional or big data repositories has two options to extract useful decision support information: processing data by using general-purpose business intelligence systems or processing data by using industry specific business intelligence systems. Each of these two options has both advantages and disadvantages for the airline companies that intend to use them. The present paper presents a comparative study of a number of general-purpose and airline industry specific business intelligence systems, together with their main advantages and disadvantages.

EMOTIONAL INTELLIGENCE AND SUCCESSFUL LEADERSHIP

OpenAIRE

Ilić, Egli

2008-01-01

The occurrence of the construct of emotional intelligence in the late twentieth century provoked controversies among scientists, due to connecting two, seemingly exclusive psychological notions – intelligence and emotions, with emotions being considered as an obstacle to rational thinking and quality performance. However, numerous studies have proven that, provided they are appropriately managed, emotions may even facilitate rational thinking, influence the appropriate decision-making and per...

Sustainability-Oriented Financial Resource Allocation in a Project Portfolio through Multi-Criteria Decision-Making

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Nomeda Dobrovolskienė

2016-05-01

Full Text Available Modern portfolio theory attempts to maximize the expected return of a portfolio for a given level of portfolio risk, or equivalently minimize risk for a given level of expected return. The reality, however, shows that, when selecting projects to a portfolio and allocating resources in the portfolio, an increasing number of organizations take into account other aspects as well. As a result of the sole purpose (risk-return, it offers only a partial solution for a sustainable organization. Existing project portfolio selection and resource allocation methods and models do not consider sustainability. Therefore, the aim of this article is to develop a sustainability-oriented model of financial resource allocation in a project portfolio by integrating a composite sustainability index of a project into Markowitz’s classical risk-return scheme (mean-variance model. The model was developed by applying multi-criteria decision-making methods. The practicability of the model was tested by an empirical study in a selected construction company. The proposed sustainability-oriented financial resource allocation model could be used in allocating financial resources in any type of business. The use of the model would not only help organisations to manage risk and achieve higher return but would also allow carrying out sustainable projects, thereby promoting greater environmental responsibility and giving more consideration to the wellbeing of future generations. Moreover, the model allows quantifying the impact of the integration of sustainability into financial resource allocation on the return of a portfolio.

Model of key success factors for Business Intelligence implementation

Directory of Open Access Journals (Sweden)

Peter Mesaros

2016-07-01

Full Text Available New progressive technologies recorded growth in every area. Information-communication technologies facilitate the exchange of information and it facilitates management of everyday activities in enterprises. Specific modules (such as Business Intelligence facilitate decision-making. Several studies have demonstrated the positive impact of Business Intelligence to decision-making. The first step is to put in place the enterprise. The implementation process is influenced by many factors. This article discusses the issue of key success factors affecting to successful implementation of Business Intelligence. The article describes the key success factors for successful implementation and use of Business Intelligence based on multiple studies. The main objective of this study is to verify the effects and dependence of selected factors and proposes a model of key success factors for successful implementation of Business Intelligence. Key success factors and the proposed model are studied in Slovak enterprises.

The Derivatives as Financial Risk Management Instruments: The Case of Croatian and Slovenian Non-financial Companies

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Danijela Miloš Sprčić

2007-12-01

Full Text Available The paper analyses financial risk management practices and derivative usage in large Croatian and Slovenian non-financial companies and explores if the decision to use derivatives as risk management instruments in the analysed companies is a function of several firm’s characteristics that have been proven as relevant in making financial risk management decisions. On the basis of the research results it can be concluded that forwards and swaps are by far the most important derivative instruments in both countries. Futures as representatives of standardised derivatives together with structured derivatives are more important in the Slovenian than in the Croatian companies, while exchange-traded and OTC options are unimportant means of financial risk management in both countries. A comparative analysis conducted to explore differences between risk management practices in Slovenian and Croatian companies has shown evidence that Slovenian companies use all types of derivatives, especially structured derivatives, more intensively than Croatian companies. The survey has revealed that the explored hedging rationales have little predictive power in explaining financial risk management decisions both in Croatian and Slovenian companies. The decision to use derivatives in Croatian non-financial companies is related only to the investment expenditures-to-assets ratio which controls for costly external financing hypothesis, while the decision to use derivatives in Slovenian companies is dependent only on the size of the company. It can be argued that the characteristics of the Croatian and Slovenian firms could be found in other South-eastern European countries and that findings of this research may act as a baseline from which to generalise. Therefore, the survey results analysed in this paper also suggest a broader comparison across countries in the region. The advantage of this work is that it provides an impetus for further research to move beyond the

Business Intelligence Integrated Solutions

Directory of Open Access Journals (Sweden)

Cristescu Marian Pompiliu

2017-01-01

Full Text Available This paper shows how businesses make decisions better and faster in terms of customers, partners and operations by turning data into valuable business information. The paper describes how to bring together people's and business intelligence information to achieve successful business strategies. There is the possibility of developing business intelligence projects in large and medium-sized organizations only with the Microsoft product described in the paper, and possible alternatives can be discussed according to the required features.

Affordances and Constraints of Intelligent Decision Support for Military Command and Control : Three Case Studies of Support Systems

OpenAIRE

Leifler, Ola

2011-01-01

Researchers in military command and control (C2) have for several decades sought to help commanders by introducing automated, intelligent decision support systems. These systems are still not widely used, however, and some researchers argue that this may be due to those problems that are inherent in the relationship between the affordances of technology and the requirements by the specific contexts of work in military C2. In this thesis, we study some specific properties of three support tech...

Recent progress in competitive intelligence, competitive technical intelligence and knowledge management

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Dou Henri

2011-04-01

Full Text Available This paper discusses the role of competitive intelligence and knowledge management to create, maintain and sustain competitive advantages. The triple helix model, based on the integration of the public sector (government, business models (private corporations and universities to promote innovation is examined. Research trends in competitive intelligence are presented. It concludes that the systematic use of the technology monitoring should support the comparison between various business models of companies that hold the market best practices and form a basis to knowledge for the decision making process and strategies development.

Comprehensive assessment of firm financial performance using financial ratios and linguistic analysis of annual reports

OpenAIRE

Renáta Myšková; Petr Hájek

2017-01-01

Indicators of financial performance, especially financial ratio analysis, have become important financial decision-support information used by firm management and other stakeholders to assess financial stability and growth potential. However, additional information may be hidden in management communication. The article deals with the analysis of the annual reports of U.S. firms from both points of view, a financial one based on a set of financial ratios, and a linguistic one based on the anal...

A comparison of workplace safety perceptions among financial decision-makers of medium- vs. large-size companies.

Science.gov (United States)

Huang, Yueng-Hsiang; Leamon, Tom B; Courtney, Theodore K; Chen, Peter Y; DeArmond, Sarah

2011-01-01

This study, through a random national survey in the U.S., explored how corporate financial decision-makers perceive important workplace safety issues as a function of the size of the company for which they worked (medium- vs. large-size companies). Telephone surveys were conducted with 404 U.S. corporate financial decision-makers: 203 from medium-size companies and 201 from large companies. Results showed that the patterns of responding for participants from medium- and large-size companies were somewhat similar. The top-rated safety priorities in resource allocation reported by participants from both groups were overexertion, repetitive motion, and bodily reaction. They believed that there were direct and indirect costs associated with workplace injuries and for every dollar spent improving workplace safety, more than four dollars would be returned. They perceived the top benefits of an effective safety program to be predominately financial in nature - increased productivity and reduced costs - and the safety modification participants mentioned most often was to have more/better safety-focused training. However, more participants from large- than medium-size companies reported that "falling on the same level" was the major cause of workers' compensation loss, which is in line with industry loss data. Participants from large companies were more likely to see their safety programs as better than those of other companies in their industries, and those of medium-size companies were more likely to mention that there were no improvements needed for their companies. Copyright © 2009 Elsevier Ltd. All rights reserved.

Intelligent systems: A semiotic perspective. Volume I: Theoretical semiotics

Energy Technology Data Exchange (ETDEWEB)

Albus, J.; Meystel, A.; Quintero, R.

1996-12-31

This report contains the papers from the Proceedings of the 1996 International Multidisciplinary Conference - Theoretical Semiotics. General topics covered are: semiotic in biology: biologically inspired complex systems; intelligence in constructed complex systems; intelligence of learning and evolution; fuzzy logic and the mechanisms of generalization; information representation for decision making; sematic foundations; syntactics of intelligent systems: the kind of logic available; intelligence of recognition: the semiotic tools; and multiresolutional methods.

Usage of Data Mining at Financial Decision Making

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Levent BORAN

2014-06-01

Full Text Available The knowledge age requires controlling every kind of information. Recognition of patterns in data may provide previously unknown and useful information that can provide competitive advantages. If related techniques are applied on financial statements, it is possible to acquire valuable information about companies’ financial situations. It is considered that data mining could be an alternative of common financial analysis techniques such as vertical analysis, horizontal analysis, trend analysis and ratio analysis. Against existing financial analysis methods, data mining provides some advantages, which are ability of manipulation of huge data and competence of obtaining previously unknown information. There exist two major constraints of data mining implementation that are lack of experts on both data mining and related domains and cost of computer software and hardware used.

CEO Emotional Intelligence and Board of Directors Efficiency

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Mohamed Ali Azouzi

2012-07-01

Full Text Available This article deals with the relationship existing between the emotional aspect and decision-making processes. More specifically, it examines the links between emotional intelligence, decision biases and effectiveness of the governance mechanisms. The primary purposes of this article are to: consider emotional intelligence like new research ideas that make important contributions to society; offer suggestions for improving manuscripts submitted to the journal; and discuss methods for enhancing the validity of inferences made from research. The article explains that the main cause of organization’s problems is CEO emotional intelligence level. I will use three models (linear regression and logistic binary regression to examine this correlation: each model treats the relationship between emotional intelligence and one of efficiency criteria of the board. Emotional intelligence has been measured according to the Schutte self-report emotional intelligence scale with a high internal validity level. Regarding the four cognitive biases, they have been measured by means of a questionnaire comprising several items. As for the selected sample, it comprises of some one hundred and eighty Tunisian executives, belonging to sixty firms. Our results have revealed that the presence of a high emotional intelligence rate is not always positively correlated with the executives’ suggestibility with respect to behavioral biases. They have also affirmed the existence of a complementarity relationship between emotional intelligence and the board of directors.

The Intelligent Technologies of Electronic Information System

Science.gov (United States)

Li, Xianyu

2017-08-01

Based upon the synopsis of system intelligence and information services, this paper puts forward the attributes and the logic structure of information service, sets forth intelligent technology framework of electronic information system, and presents a series of measures, such as optimizing business information flow, advancing data decision capability, improving information fusion precision, strengthening deep learning application and enhancing prognostic and health management, and demonstrates system operation effectiveness. This will benefit the enhancement of system intelligence.

Artificial Intelligence for Diabetes Management and Decision Support: Literature Review.

Science.gov (United States)

Contreras, Ivan; Vehi, Josep

2018-05-30

Artificial intelligence methods in combination with the latest technologies, including medical devices, mobile computing, and sensor technologies, have the potential to enable the creation and delivery of better management services to deal with chronic diseases. One of the most lethal and prevalent chronic diseases is diabetes mellitus, which is characterized by dysfunction of glucose homeostasis. The objective of this paper is to review recent efforts to use artificial intelligence techniques to assist in the management of diabetes, along with the associated challenges. A review of the literature was conducted using PubMed and related bibliographic resources. Analyses of the literature from 2010 to 2018 yielded 1849 pertinent articles, of which we selected 141 for detailed review. We propose a functional taxonomy for diabetes management and artificial intelligence. Additionally, a detailed analysis of each subject category was performed using related key outcomes. This approach revealed that the experiments and studies reviewed yielded encouraging results. We obtained evidence of an acceleration of research activity aimed at developing artificial intelligence-powered tools for prediction and prevention of complications associated with diabetes. Our results indicate that artificial intelligence methods are being progressively established as suitable for use in clinical daily practice, as well as for the self-management of diabetes. Consequently, these methods provide powerful tools for improving patients' quality of life. ©Ivan Contreras, Josep Vehi. Originally published in the Journal of Medical Internet Research (http://www.jmir.org), 30.05.2018.

Complementary Cognitive Capabilities, Economic Decision-Making, and Aging

OpenAIRE

Li, Ye; Baldassi, Martine; Johnson, Eric J.; Weber, Elke U.

2013-01-01

Fluid intelligence decreases with age, yet evidence about age declines in decision-making quality is mixed: Depending on the study, older adults make worse, equally good, or even better decisions than younger adults. We propose a potential explanation for this puzzle, namely that age differences in decision performance result from the interplay between two sets of cognitive capabilities that impact decision making, one in which older adults fare worse (i.e., fluid intelligence) and one in whi...

Crowd wisdom drives intelligent manufacturing

Directory of Open Access Journals (Sweden)

Jiaqi Lu

2017-03-01

Full Text Available Purpose – A fundamental problem for intelligent manufacturing is to equip the agents with the ability to automatically make judgments and decisions. This paper aims to introduce the basic principle for intelligent crowds in an attempt to show that crowd wisdom could help in making accurate judgments and proper decisions. This further shows the positive effects that crowd wisdom could bring to the entire manufacturing process. Design/methodology/approach – Efforts to support the critical role of crowd wisdom in intelligent manufacturing involve theoretical explanation, including a discussion of several prevailing concepts, such as consumer-to-business (C2B, crowdfunding and an interpretation of the contemporary Big Data mania. In addition, an empirical study with three business cases was conducted to prove the conclusion that our ideas could well explain the current business phenomena and guide the future of manufacturing. Findings – This paper shows that crowd wisdom could help make accurate judgments and proper decisions. It further shows the positive effects that crowd wisdom could bring to the entire manufacturing process. Originality/value – The paper highlights the importance of crowd wisdom in manufacturing with sufficient theoretical and empirical analysis, potentially providing a guideline for future industry.

The Geography of Financial Literacy

OpenAIRE

Christopher Bumcrot; Judy Lin; Annamaria Lusardi

2013-01-01

This paper explores how well equipped today’s households are to make complex financial decisions in the face of often high-cost and high-risk financial instruments. Specifically we focus on financial literacy. Most importantly, we describe the geography of financial literacy, i.e., how financial literacy is distributed across the fifty US states. We describe the correlation of financial literacy and some important aggregate variables, such as state-level poverty rates. Finally, we examine the...

Intelligent Transportation Control based on Proactive Complex Event Processing

Directory of Open Access Journals (Sweden)

Wang Yongheng

2016-01-01

Full Text Available Complex Event Processing (CEP has become the key part of Internet of Things (IoT. Proactive CEP can predict future system states and execute some actions to avoid unwanted states which brings new hope to intelligent transportation control. In this paper, we propose a proactive CEP architecture and method for intelligent transportation control. Based on basic CEP technology and predictive analytic technology, a networked distributed Markov decision processes model with predicting states is proposed as sequential decision model. A Q-learning method is proposed for this model. The experimental evaluations show that this method works well when used to control congestion in in intelligent transportation systems.

Regulating financial markets: Costs and trade-offs

NARCIS (Netherlands)

Górnicka, L.A.

2015-01-01

This thesis studies the interactions between the institutional design of financial systems, and the financial agents that regulatory institutions supervise. It explores the channels through which financial regulation affects financial agents’ lending, funding, and risk-taking decisions. By

Balancing Information Analysis and Decision Value: A Model to Exploit the Decision Process

Science.gov (United States)

2011-12-01

technical intelli- gence e.g. signals and sensors (SIGINT and MASINT), imagery (!MINT), as well and human and open source intelligence (HUMINT and OSINT ...Clark 2006). The ability to capture large amounts of da- ta and the plenitude of modem intelligence information sources provides a rich cache of...many tech- niques for managing information collected and derived from these sources , the exploitation of intelligence assets for decision-making

Financial Analysts’ Forecasts

DEFF Research Database (Denmark)

Stæhr, Simone

. The primary focus is on financial analysts in the task of conducting earnings forecasts while a secondary focus is on investors’ abilities to interpret and make use of these forecasts. Simply put, financial analysts can be seen as information intermediators receiving inputs to their analyses from firm...... in the decision making and the magnitude of these constraints does sometimes vary with personal traits. Therefore, to the extent that financial analysts are subjects to behavioral biases their outputs to the investors are likely to be biased by their interpretation of information. Because investors need accuracy...... management and providing outputs to the investors. Amongst various outputs from the analysts are forecasts of earnings. According to decision theories mostly from the literature in psychology all humans are affected by cognitive constraints to some degree. These constraints may lead to unintentional biases...

Computational intelligence techniques in health care

CERN Document Server

Zhou, Wengang; Satheesh, P

2016-01-01

This book presents research on emerging computational intelligence techniques and tools, with a particular focus on new trends and applications in health care. Healthcare is a multi-faceted domain, which incorporates advanced decision-making, remote monitoring, healthcare logistics, operational excellence and modern information systems. In recent years, the use of computational intelligence methods to address the scale and the complexity of the problems in healthcare has been investigated. This book discusses various computational intelligence methods that are implemented in applications in different areas of healthcare. It includes contributions by practitioners, technology developers and solution providers.

Business Intelligence technology: The Croatian case

Directory of Open Access Journals (Sweden)

Katarina Ćurko

2002-01-01

Full Text Available Each company aims to improve its business performance. Business Intelligence (BI helps enterprises to optimize their decision-making capabilities and to attain unprecedented levels of competitive advantage. Its usage leads to conditions, procedures and mechanisms for creating quality information and business knowledge. By these the organization can successfully respond to numerous pressures in dynamical and complex environment. The main objective of the paper is to present what the business intelligence is, and show the results of the research about the level and use of business intelligence in Croatian large organizations.

Effects of the use of competitive intelligence in industrial SMEs

Directory of Open Access Journals (Sweden)

Emilio Placer-Maruri

2016-08-01

Originality/value: This work provides a step forward in measuring the effects generated by Competitive Intelligence in SMEs, making it possible to demonstrate that only case studies have been analyzed. It also incorporates an approach using financial and non-financial variables that can guide future research as well as companies that want to generate their own self-assessment systems.

Intelligent Flight Support System (IFSS): A Real-time Intelligent Decision Support Prototype, Phase I

Data.gov (United States)

National Aeronautics and Space Administration — The integration of the analysis tools with the advanced visualization capabilities in The Intelligent Flight Support System (IFSS) can provide a unique method for...

The Role of financial statement in the investment decisions of a micro finance institution (MFI) : Bamenda Police Cooperative Credit Union Limited, Yaounde (BAPCCUL Yaounde)

OpenAIRE

Suh, Collins

2017-01-01

Today, it is possible to present financial statements in many ways. This makes it difficult to compare the financial statement of organisations within the same geographical area to suit the report of investors. For example, some organisations choose to provide a significant line of item detail, while others do not. By creating a single standard, we could provide investment decision makers with an improved starting point. This study therefore investigates the role of financial statements on in...

Effective use of business intelligence.

Science.gov (United States)

Glaser, John; Stone, John

2008-02-01

Business intelligence--technology to manage and leverage an organization's data--can enhance healthcare organizations' financial and operational performance and quality of patient care. Effective BI management requires five preliminary steps: Establish business needs and value. Obtain buy-in from managers. Create an end-to-end vision. Establish BI governance. Implement specific roles for managing data quality.

Artificial intelligence executive summary

International Nuclear Information System (INIS)

Wamsley, S.J.; Purvis, E.E. III

1984-01-01

Artificial intelligence (AI) is a high technology field that can be used to provide problem solving diagnosis, guidance and for support resolution of problems. It is not a stand alone discipline, but can also be applied to develop data bases for retention of the expertise that is required for its own knowledge base. This provides a way to retain knowledge that otherwise may be lost. Artificial Intelligence Methodology can provide an automated construction management decision support system, thereby restoring the manager's emphasis to project management

Balancing Responsibilities – Financial Literacy

Directory of Open Access Journals (Sweden)

Gail Pearson

2017-03-01

Full Text Available In Australia there is an obligation to promote the informed participation of financial consumers while in South Africa there is an obligation to educate consumers. The Australian obligation is concerned with the financial system as a whole while the South African obligation has generally been focused on general financial education as a tool to promote financial inclusion. There is no obligation for consumers to attain a minimum standard of literacy in credit or finance generally. Financial literacy is one among a number of strategies directed towards inducing changes in consumer behaviour. It sits between the old regulatory model which relies on disclosure of information for effective and rational decision-making and a newer regulatory model which takes into account individuals' perceptions and behavioural biases and may seek to accommodate for these by imposing obligations on financial services providers beyond the mere disclosure of information. Financial literacy is generally the ability to understand how money works, how a person can earn money or make it more. It specifically refers to the set of skills and knowledge that allows people to make informed and effective decisions with all of their financial resources. This article discusses Australian and South African legal obligations and social responsibilities aimed at promoting the financial literacy of consumers.

Competitive intelligence and national development: the role of ...

African Journals Online (AJOL)

Competitive intelligence (CI) is the process of developing actionable foresight regarding competitive dynamics and non-market factors that can ... It is a relevant tool for strategic decision making which in return impacts national ... archives, resource centers, etc are yet to realize their position as Competitive Intelligent Agents.

Artificial intelligent decision support for low-cost launch vehicle integrated mission operations

Science.gov (United States)

Szatkowski, Gerard P.; Schultz, Roger

1988-01-01

The feasibility, benefits, and risks associated with Artificial Intelligence (AI) Expert Systems applied to low cost space expendable launch vehicle systems are reviewed. This study is in support of the joint USAF/NASA effort to define the next generation of a heavy-lift Advanced Launch System (ALS) which will provide economical and routine access to space. The significant technical goals of the ALS program include: a 10 fold reduction in cost per pound to orbit, launch processing in under 3 weeks, and higher reliability and safety standards than current expendables. Knowledge-based system techniques are being explored for the purpose of automating decision support processes in onboard and ground systems for pre-launch checkout and in-flight operations. Issues such as: satisfying real-time requirements, providing safety validation, hardware and Data Base Management System (DBMS) interfacing, system synergistic effects, human interfaces, and ease of maintainability, have an effect on the viability of expert systems as a useful tool.

Assessing Intelligence in Children and Youth Living in the Netherlands

Science.gov (United States)

Hurks, Petra P. M.; Bakker, Helen

2016-01-01

In this article, we briefly describe the history of intelligence test use with children and youth in the Netherlands, explain which models of intelligence guide decisions about test use, and detail how intelligence tests are currently being used in Dutch school settings. Empirically supported and theoretical models studying the structure of human…

A Knowledge-Based Consultant for Financial Marketing

OpenAIRE

Kastner, John; Apte, Chidanand; Griesmer, James

1986-01-01

This article describes an effort to develop a knowledge-based financial marketing consultant system. Financial marketing is an excellent vehicle for both research and application in artificial intelligence (AI). This domain differs from the great majority of previous expert system domains in that there are no well-defined answers (in traditional sense); the goal here is to obtain satisfactory arguments to support the conclusions made. A large OPS5-based system was implemented as an initial pr...

The intelligent system for accident identification in NPP

International Nuclear Information System (INIS)

Hernandez, Jorge Luis.

1998-01-01

Accidental situations in NPP are of greet concern for operators, the facility, regulatory bodies and the environment. This work proposes a design of intelligent system aimed to assist the operator in the process of decision making when initiator events with higher relative contribution to the reactor core damage occur. The intelligent System uses the results of the pre operational Probabilistic Safety Assessment and the Thermal hydraulic Safety Analyses of the NPP Juragua as source for building its knowledge base. The nucleus of the system is presented as a design of an intelligent hybrid system from the combination of the artificial intelligence techniques: fussy logic and artificial neural networks. The system works with variables from the process of the firsts circuit, second circuit and the containment and it is presented as a model for the integration of safety analyses in the process of decision making by the operator when tackling with accidental situations

MODELING OF ACCOUNTING ASPECTS OF FINANCIAL RESULTS

Directory of Open Access Journals (Sweden)

Hrayr HANISYAN

2014-06-01

Full Text Available Modern trends in world economy require expanding functional informational capabilities of financial statements. Market-oriented users of financial statements are interested in information necessary when making decisions of financial character.

Integrating Physical Actions and Financial Instruments to Manage Environmental Financial Risk

Science.gov (United States)

Foster, B.

2016-12-01

Exposure to extreme weather events can be reduced through physical actions (e.g., dams/reservoirs) or mitigated financially (e.g., insurance). Often physical actions involve investments in expensive infrastructure that reduce exposure, but whose benefits are only occasionally realized. Financial risk management does not reduce the impacts of an event, but rather redistributes them temporally, albeit at a cost. Nonetheless, these costs are typically much smaller, at least in the short run, than those incurred for physical actions. Financial strategies are also more flexible than physical ones in the face of an uncertain future. Financial contracts specifically designed to manage extreme environmental risks are becoming more common and can either replace or complement infrastructural investments as part of a risk management portfolio. In order to make optimal decisions as to the relative levels of physical and financial risk mitigation to employ, it is necessary to understand the relative merits of each strategy. This research develops a method for analyzing tradeoffs between physical and financial risk management strategies. We identify the unique cost and benefit properties of each strategy and integrate them into a single model that details the tradeoffs involved in various portfolios of physical and financial strategies. These methods are then applied to evaluate decisions to pursue emergency dredging during drought on the Mississippi River, which is used to mitigate the increased costs and/or reduced revenues barge operators face when water levels are low. Currently the U.S. Army Corps of Engineers funds most emergency dredging operations during major droughts and they are considering more intensive strategies for future droughts. Barge carriers and shippers though could manage at least some portion of their financial risks through a series of existing and experimental financial contracts. This work involves the formulation of these experimental contracts and

Artificial intelligence: Neural network model as the multidisciplinary team member in clinical decision support to avoid medical mistakes

Directory of Open Access Journals (Sweden)

Igor Vyacheslavovich Buzaev

2016-09-01

Full Text Available Objective: The continuous uninterrupted feedback system is the essential part of any well-organized system. We propose aLYNX concept that is a possibility to use an artificial intelligence algorithm or a neural network model in decision-making system so as to avoid possible mistakes and to remind the doctors to review tactics once more in selected cases. Method: aLYNX system includes: registry with significant factors, decisions and results; machine learning process based on this registry data; the use of the machine learning results as the adviser. We show a possibility to build a computer adviser with a neural network model for making a choice between coronary aortic bypass surgery (CABG and percutaneous coronary intervention (PCI in order to achieve a higher 5-year survival rate in patients with angina based on the experience of 5107 patients. Results: The neural network was trained by 4679 patients who achieved 5-year survival. Among them, 2390 patients underwent PCI and 2289 CABG. After training, the correlation coefficient (r of the network was 0.74 for training, 0.67 for validation, 0.71 for test and 0.73 for total. Simulation of the neural network function has been performed after training in the two groups of patients with known 5-year outcome. The disagreement rate was significantly higher in the dead patient group than that in the survivor group between neural network model and heart team [16.8% (787/4679 vs. 20.3% (87/428, P = 0.065]. Conclusion: The study shows the possibility to build a computer adviser with a neural network model for making a choice between CABG and PCI in order to achieve a higher 5-year survival rate in patients with angina. Keywords: Coronary artery bypass grafting, Percutaneous coronary intervention, Artificial intelligence, Decision making

Intelligent systems and soft computing for nuclear science and industry

International Nuclear Information System (INIS)

Ruan, D.; D'hondt, P.; Govaerts, P.; Kerre, E.E.

1996-01-01

The second international workshop on Fuzzy Logic and Intelligent Technologies in Nuclear Science (FLINS) addresses topics related to intelligent systems and soft computing for nuclear science and industry. The proceedings contain 52 papers in different fields such as radiation protection, nuclear safety (human factors and reliability), safeguards, nuclear reactor control, production processes in the fuel cycle, dismantling, waste and disposal, decision making, and nuclear reactor control. A clear link is made between theory and applications of fuzzy logic such as neural networks, expert systems, robotics, man-machine interfaces, and decision-support techniques by using modern and advanced technologies and tools. The papers are grouped in three sections. The first section (Soft computing techniques) deals with basic tools to treat fuzzy logic, neural networks, genetic algorithms, decision-making, and software used for general soft-computing aspects. The second section (Intelligent engineering systems) includes contributions on engineering problems such as knowledge-based engineering, expert systems, process control integration, diagnosis, measurements, and interpretation by soft computing. The third section (Nuclear applications) focusses on the application of soft computing and intelligent systems in nuclear science and industry

The intelligent investor a book of practical counsel

CERN Document Server

Graham, Benjamin

2003-01-01

This classic text is annotated to update Graham's timeless wisdom for today's market conditions... The greatest investment advisor of the twentieth century, Benjamin Graham, taught and inspired people worldwide. Graham's philosophy of "value investing" -- which shields investors from substantial error and teaches them to develop long-term strategies -- has made The Intelligent Investor the stock market bible ever since its original publication in 1949. Over the years, market developments have proven the wisdom of Graham's strategies. While preserving the integrity of Graham's original text, this revised edition includes updated commentary by noted financial journalist Jason Zweig, whose perspective incorporates the realities of today's market, draws parallels between Graham's examples and today's financial headlines, and gives readers a more thorough understanding of how to apply Graham's principles. Vital and indispensable, this HarperBusiness Essentials edition of The Intelligent Investor is the most imp...

STRUCTURAL RELATIONS OF FINANCIAL STATEMENTS AND THE INSTRUMENTS OF FINANCIAL MANAGEMENT

OpenAIRE

CLAUDIA ISAC; ALIN ISAC

2012-01-01

The present paper aims to highlight the dynamic nature of the balance sheet as a component of annual financial statements and the informational support offered by the indicators calculated for financial analysis. In the first part of the paper there are presented some theoretical issues about the current context of the use of financial statements as a useful tool in the process of decision making and the forms and the parts of such situations. The balance sheet represents a model of the firm'...

A neural model of decision making

OpenAIRE

Larsen, Torben

2008-01-01

Background: A descriptive neuroeconomic model is aimed for relativity of the concept of economic man to empirical science.Method: A 4-level client-server-integrator model integrating the brain models of McLean and Luria is the general framework for the model of empirical findings.Results: Decision making relies on integration across brain levels of emotional intelligence (LU) and logico-matematico intelligence (RIA), respectively. The integrated decision making formula approaching zero by bot...

Stereotype threat affects financial decision making.

Science.gov (United States)

Carr, Priyanka B; Steele, Claude M

2010-10-01

The research presented in this article provides the first evidence that one's decision making can be influenced by concerns about stereotypes and the devaluation of one's identity. Many studies document gender differences in decision making, and often attribute these differences to innate and stable factors, such as biological and hormonal differences. In three studies, we found that stereotype threat affected decision making and led to gender differences in loss-aversion and risk-aversion behaviors. In Study 1, women subjected to stereotype threat in academic and business settings were more loss averse than both men and women who were not facing the threat of being viewed in light of negative stereotypes. We found no gender differences in loss-aversion behavior in the absence of stereotype threat. In Studies 2a and 2b, we found the same pattern of effects for risk-aversion behavior that we had observed for loss-aversion behavior. In addition, in Study 2b, ego depletion mediated the effects of stereotype threat on women's decision making. These results suggest that individuals' decision making can be influenced by stereotype concerns.

Business Intelligence Integrated Solutions

Directory of Open Access Journals (Sweden)

Cristescu Marian Pompiliu

2017-12-01

Full Text Available A Business Intelligence solution concerns the simple, real-time access to complete information about the business shown in a relevant format of the report, graphic or dashboard type in order help the taking of strategic decisions regarding the direction in which the company goes. Business Intelligence does not produce data, but uses the data produced by the company’s applications. BI solutions extract their data from ERP (Enterprise Resource Planning, CRM (Customer Relationship Management, HCM (Human Capital Management, and Retail, eCommerce or other databases used in the company.

An Economic Model of Mortality Salience in Personal Financial Decision Making: Applications to Annuities, Life Insurance, Charitable Gifts, Estate Planning, Conspicuous Consumption, and Healthcare

Directory of Open Access Journals (Sweden)

Russell N James III

2016-12-01

Full Text Available The study of personal mortality salience and the denial of death have a long history in psychology leading to the modern field of Terror Management Theory. However, a simple consumer utility function predicts many of the outcomes identified in experimental research in this field. Further, this economic approach explains a range of otherwise unexpected financial decision-making behaviors in areas as diverse as annuities, life insurance, charitable gifts and bequests, intra-family gifts and bequests, conspicuous consumption, and healthcare. With its relevance to such a wide range of personal financial decisions, understanding the impact of mortality salience can be particularly useful to advisors in related fields.

Artificial intelligence - New tools for aerospace project managers

Science.gov (United States)

Moja, D. C.

1985-01-01

Artificial Intelligence (AI) is currently being used for business-oriented, money-making applications, such as medical diagnosis, computer system configuration, and geological exploration. The present paper has the objective to assess new AI tools and techniques which will be available to assist aerospace managers in the accomplishment of their tasks. A study conducted by Brown and Cheeseman (1983) indicates that AI will be employed in all traditional management areas, taking into account goal setting, decision making, policy formulation, evaluation, planning, budgeting, auditing, personnel management, training, legal affairs, and procurement. Artificial intelligence/expert systems are discussed, giving attention to the three primary areas concerned with intelligent robots, natural language interfaces, and expert systems. Aspects of information retrieval are also considered along with the decision support system, and expert systems for project planning and scheduling.

Ethical Issues and Decision Making in Collaborative Financial Therapy

Directory of Open Access Journals (Sweden)

D. Bruce Ross

2016-09-01

Full Text Available The purpose of this article is to introduce potential ethical challenges that may arise when a financial and mental health professional collaborate to provide financial therapy and recommendations on how to effectively address these concerns. The development of ethical and professional practices requires extensive dialogue from practitioners in the emerging field of financial therapy; however, it is important to first develop an awareness and sensitivity to the ethical and professional issues across disciplines. This article examines the differences and similarities between the codes of ethics of different financial and mental health disciplines, and addresses six core ethical and professional issues: dual relationships, confidentiality, collaborating with other professionals, fee management, use of technology, and attending to federal and state regulatory laws. In working through the complexity of different disciplines’ regulatory environments, a discussion of how to address these ethical questions in order to progress the financial therapy field is presented.

The Effects of Financial Education on Impulsive Decision Making.

Directory of Open Access Journals (Sweden)

William B DeHart

Full Text Available Delay discounting, as a behavioral measure of impulsive choice, is strongly related to substance abuse and other risky behaviors. Therefore, effective techniques that alter delay discounting are of great interest. We explored the ability of a semester long financial education course to change delay discounting. Participants were recruited from a financial education course (n = 237 and an abnormal psychology course (n = 80. Both groups completed a delay-discounting task for $100 during the first two weeks (Time 1 of the semester as well as during the last two weeks (Time 2 of the semester. Participants also completed a personality inventory and financial risk tolerance scale both times and a delay-discounting task for $1,000 during Time 2. Delay discounting decreased in the financial education group at the end of the semester whereas there was no change in delay discounting in the abnormal psychology group. Financial education may be an effective method for reducing delay discounting.

The Effects of Financial Education on Impulsive Decision Making.

Science.gov (United States)

DeHart, William B; Friedel, Jonathan E; Lown, Jean M; Odum, Amy L

2016-01-01

Delay discounting, as a behavioral measure of impulsive choice, is strongly related to substance abuse and other risky behaviors. Therefore, effective techniques that alter delay discounting are of great interest. We explored the ability of a semester long financial education course to change delay discounting. Participants were recruited from a financial education course (n = 237) and an abnormal psychology course (n = 80). Both groups completed a delay-discounting task for $100 during the first two weeks (Time 1) of the semester as well as during the last two weeks (Time 2) of the semester. Participants also completed a personality inventory and financial risk tolerance scale both times and a delay-discounting task for $1,000 during Time 2. Delay discounting decreased in the financial education group at the end of the semester whereas there was no change in delay discounting in the abnormal psychology group. Financial education may be an effective method for reducing delay discounting.

A New Layered Model on Emotional Intelligence

Science.gov (United States)

Drigas, Athanasios S.

2018-01-01

Emotional Intelligence (EI) has been an important and controversial topic during the last few decades. Its significance and its correlation with many domains of life has made it the subject of expert study. EI is the rudder for feeling, thinking, learning, problem-solving, and decision-making. In this article, we present an emotional–cognitive based approach to the process of gaining emotional intelligence and thus, we suggest a nine-layer pyramid of emotional intelligence and the gradual development to reach the top of EI. PMID:29724021

Customer Data Analysis Model using Business Intelligence Tools in Telecommunication Companies

Directory of Open Access Journals (Sweden)

Monica LIA

2015-10-01

Full Text Available This article presents a customer data analysis model in a telecommunication company and business intelligence tools for data modelling, transforming, data visualization and dynamic reports building . For a mature market, knowing the information inside the data and making forecast for strategic decision become more important in Romanian Market. Business Intelligence tools are used in business organization as support for decision making.

Financial literacy and retirement planning in the Netherlands

NARCIS (Netherlands)

van Rooij, Maarten C. J.; Lusardi, Annamaria; Alessie, Rob J. M.

The complexity of financial decisions that households now face has increased to unprecedented levels. At the same time, households seem to lack the financial knowledge to cope with these decisions, including how to save and invest adequately for retirement. In this paper, we examine the relationship

The effects of normal aging on multiple aspects of financial decision-making.

Directory of Open Access Journals (Sweden)

Dorien F Bangma

Full Text Available Financial decision-making (FDM is crucial for independent living. Due to cognitive decline that accompanies normal aging, older adults might have difficulties in some aspects of FDM. However, an improved knowledge, personal experience and affective decision-making, which are also related to normal aging, may lead to a stable or even improved age-related performance in some other aspects of FDM. Therefore, the present explorative study examines the effects of normal aging on multiple aspects of FDM.One-hundred and eighty participants (range 18-87 years were assessed with eight FDM tests and several standard neuropsychological tests. Age effects were evaluated using hierarchical multiple regression analyses. The validity of the prediction models was examined by internal validation (i.e. bootstrap resampling procedure as well as external validation on another, independent, sample of participants (n = 124. Multiple regression and correlation analyses were applied to investigate the mediation effect of standard measures of cognition on the observed effects of age on FDM.On a relatively basic level of FDM (e.g., paying bills or using FDM styles no significant effects of aging were found. However more complex FDM, such as making decisions in accordance with specific rules, becomes more difficult with advancing age. Furthermore, an older age was found to be related to a decreased sensitivity for impulsive buying. These results were confirmed by the internal and external validation analyses. Mediation effects of numeracy and planning were found to explain parts of the association between one aspect of FDM (i.e. Competence in decision rules and age; however, these cognitive domains were not able to completely explain the relation between age and FDM.Normal aging has a negative influence on a complex aspect of FDM, however, other aspects appear to be unaffected by normal aging or improve.

Financial management, bargaining and efficiency within the household; An empirical analysis

NARCIS (Netherlands)

Dobbelsteen, S; Kooreman, P

1997-01-01

This paper analyzes data from the British Household Panel Survey on households' financial management and financial decision-making. Direct subjective information was collected by asking questions like 'Who has the final say in big financial decisions?'. All questions were answered separately by both

Framework for Financial Ratio Analysis of Audited Federal Financial Reports

National Research Council Canada - National Science Library

Brady, Richard

1999-01-01

.... The disclosure of this type of information, it was believed, would enable decision-makers to understand the financial implications of budgetary, policy and program issues and provide an analytical...

How business intelligence can improve value.

Science.gov (United States)

Moore, Keith D; Eyestone, Katie; Coddington, Dean C

2012-10-01

Case studies of three healthcare organizations reinforce the premise that business intelligence--the ability to convert data into actionable information for decision making--is critical to demonstrating improved value.

A Soft Intelligent Risk Evaluation Model for Credit Scoring Classification

Directory of Open Access Journals (Sweden)

Mehdi Khashei

2015-09-01

Full Text Available Risk management is one of the most important branches of business and finance. Classification models are the most popular and widely used analytical group of data mining approaches that can greatly help financial decision makers and managers to tackle credit risk problems. However, the literature clearly indicates that, despite proposing numerous classification models, credit scoring is often a difficult task. On the other hand, there is no universal credit-scoring model in the literature that can be accurately and explanatorily used in all circumstances. Therefore, the research for improving the efficiency of credit-scoring models has never stopped. In this paper, a hybrid soft intelligent classification model is proposed for credit-scoring problems. In the proposed model, the unique advantages of the soft computing techniques are used in order to modify the performance of the traditional artificial neural networks in credit scoring. Empirical results of Australian credit card data classifications indicate that the proposed hybrid model outperforms its components, and also other classification models presented for credit scoring. Therefore, the proposed model can be considered as an appropriate alternative tool for binary decision making in business and finance, especially in high uncertainty conditions.

Evaluating the competitive intelligence effort in a manufacturing company / Sidney Farrell

OpenAIRE

Farrell, Sidney

2007-01-01

In order for organisations to remain competitive, supportive tools for decision-making are required. In an industry of information overload, the emphasis is not on more information but on actionable intelligence, capable of guiding decisions in a company. Specific areas are considered fundamental for the success of actionable competitive intelligence. The most important facet is the support and involvement of top management and the participation of the entire company. Fur...

Intelligent System for Diagnosis of a Three-Phase Separator

Directory of Open Access Journals (Sweden)

Irina Ioniţă

2016-03-01

Full Text Available Intelligent systems for diagnosis have been used in a variety of domains: financial evaluation, credit scoring problem, identification of software and hardware problems of mechanical and electronic equipment, medical diagnosis, fault detection in gas-oil production plants etc. The goal of diagnosis systems is to classify the observed symptoms as being caused by some diagnosis class while advising systems perform such a classification and offer corrective remedies (recommendations. The current paper discuss the opportunity to combine more intelligent techniques and methodologies (intelligent agents, data mining and expert systems to increase the accuracy of results obtained from the diagnosis of a three-phase separator. The results indicate that the diagnosis hybrid system benefits from the advantages of each module component: intelligent agent module, data mining module and expert system module.

Inter-cooperative collective intelligence techniques and applications

CERN Document Server

Bessis, Nik

2014-01-01

This book covers the latest advances in the rapid growing field of inter-cooperative collective intelligence aiming the integration and cooperation of various computational resources, networks and intelligent processing paradigms to collectively build intelligence and advanced decision support and interfaces for end-users. The book brings a comprehensive view of the state-of-the-art in the field of integration of sensor networks, IoT and Cloud computing, massive and intelligent querying and processing of data. As a result, the book presents lessons learned so far and identifies new research issues, challenges and opportunities for further research and development agendas. Emerging areas of applications are also identified and usefulness of inter-cooperative collective intelligence is envisaged.   Researchers, software developers, practitioners and students interested in the field of inter-cooperative collective intelligence will find the comprehensive coverage of this book useful for their research, academic...

The foundations of plant intelligence.

Science.gov (United States)

Trewavas, Anthony

2017-06-06

Intelligence is defined for wild plants and its role in fitness identified. Intelligent behaviour exhibited by single cells and systems similarity between the interactome and connectome indicates neural systems are not necessary for intelligent capabilities. Plants sense and respond to many environmental signals that are assessed to competitively optimize acquisition of patchily distributed resources. Situations of choice engender motivational states in goal-directed plant behaviour; consequent intelligent decisions enable efficient gain of energy over expenditure. Comparison of swarm intelligence and plant behaviour indicates the origins of plant intelligence lie in complex communication and is exemplified by cambial control of branch function. Error correction in behaviours indicates both awareness and intention as does the ability to count to five. Volatile organic compounds are used as signals in numerous plant interactions. Being complex in composition and often species and individual specific, they may represent the plant language and account for self and alien recognition between individual plants. Game theory has been used to understand competitive and cooperative interactions between plants and microbes. Some unexpected cooperative behaviour between individuals and potential aliens has emerged. Behaviour profiting from experience, another simple definition of intelligence, requires both learning and memory and is indicated in the priming of herbivory, disease and abiotic stresses.

Is Financial Literacy a Determinant of Health?

Science.gov (United States)

Meyer, Melanie

2017-08-01

Changes in economic conditions and healthcare delivery models have shifted more healthcare costs to patients, resulting in greater patient financial responsibilities. As a result, it is important to understand the potential impact of financial literacy on patients' healthcare behavior. With the focus on delivering better health outcomes at lower costs, factors that influence patient behavior are important considerations for healthcare providers. Although researchers have proposed a variety of conceptual models that identify influential factors, those models do not fully address financial literacy and its potential impact patients' healthcare decisions. This article examines existing models of patient healthcare decision-making and current research on factors affecting patient decision-making and behavior and then presents recommendations for closing the identified gap in our current knowledge.

How Consumer Trust in Financial Institutions Influences Relationships Between Knowledge, Cognitive Effort and Financial Healthiness

DEFF Research Database (Denmark)

Hansen, Torben

2014-01-01

Trust not only relates to customer trust in individual financial companies (i.e., narrow-scope trust) but also relates to the broader business context in which consumers carry out their financial decisions (i.e., broad-scope trust). Based on two surveys comprising 1,155 bank consumers and 764...... pension consumers, respectively, the results of this study indicate that broad-scope trust negatively moderates relations between knowledge and financial healthiness and between cognitive effort and financial healthiness. In addition, it is demonstrated that broad-scope trust negatively influences...... cognitive effort and positively influences financial healthiness....

Mortgage risks, debt literacy and financial advice

NARCIS (Netherlands)

van Ooijen, Raun; van Rooij, Maarten C.J.

2016-01-01

A limited understanding of mortgage contracts and the risks involved may have contributed to the outbreak of the 2007–2008 financial crisis. We developed a special questionnaire relating mortgage loan decisions to financial knowledge and financial advice. Our results demonstrate that homeowners

An economic and financial exploratory

Science.gov (United States)

Cincotti, S.; Sornette, D.; Treleaven, P.; Battiston, S.; Caldarelli, G.; Hommes, C.; Kirman, A.

2012-11-01

This paper describes the vision of a European Exploratory for economics and finance using an interdisciplinary consortium of economists, natural scientists, computer scientists and engineers, who will combine their expertise to address the enormous challenges of the 21st century. This Academic Public facility is intended for economic modelling, investigating all aspects of risk and stability, improving financial technology, and evaluating proposed regulatory and taxation changes. The European Exploratory for economics and finance will be constituted as a network of infrastructure, observatories, data repositories, services and facilities and will foster the creation of a new cross-disciplinary research community of social scientists, complexity scientists and computing (ICT) scientists to collaborate in investigating major issues in economics and finance. It is also considered a cradle for training and collaboration with the private sector to spur spin-offs and job creations in Europe in the finance and economic sectors. The Exploratory will allow Social Scientists and Regulators as well as Policy Makers and the private sector to conduct realistic investigations with real economic, financial and social data. The Exploratory will (i) continuously monitor and evaluate the status of the economies of countries in their various components, (ii) use, extend and develop a large variety of methods including data mining, process mining, computational and artificial intelligence and every other computer and complex science techniques coupled with economic theory and econometric, and (iii) provide the framework and infrastructure to perform what-if analysis, scenario evaluations and computational, laboratory, field and web experiments to inform decision makers and help develop innovative policy, market and regulation designs.

ECONOMIC RECESSION A CALL FOR COMPETITIVE INTELLIGENCE

OpenAIRE

Lucian Marius IVANOV

2011-01-01

Global recession brought about a significant growth in competition, stressing the need for relevant and reliable intelligence as a support for making efficient strategic decisions. The recent circumstances draw the attention far more earnestly this time on the need for an intelligence structure within companies to be ready for sustaining business management endeavours in line with increasing competitiveness, protection and promotion of their interests.

Components of a Business Intelligence software solution

OpenAIRE

Daniel BALACEANU

2007-01-01

Business intelligence (BI) is a business management term which refers to applications and technologies which are used to gather, provide access to, and analyze data and information about company operations. Business intelligence systems can help companies have a more comprehensive knowledge of the factors affecting their business, such as metrics on sales, production, internal operations, and they can help companies to make better business decisions.

Mainstreaming Low-Carbon Climate-Resilient growth pathways into investment decision-making - lessons from development financial institutions on approaches and tools

International Nuclear Information System (INIS)

Cochran, Ian; Eschalier, Claire; Deheza, Mariana

2015-01-01

The integration or 'mainstreaming' of the transition to a low-carbon climate-resilient future as a prism through which to make financial decisions poses a broad number of operational challenges. This background paper for the March 31 event is drawn from the report currently underway by CDC Climat Research supported by the Group Agence Francaise de Developpement and the Group Caisse des depots entitled 'Mainstreaming Low-Carbon Climate-Resilient Growth Pathways into International Finance Institutions' Activities: Identifying standards and tools and a typology for integration into operational decision-making'. Drawing from existing studies of current practice among mainly public development finance institutions (DFIs), this paper presents three families of tools and metrics used by DFIs to integrate climate change into investment decision-making. It presents a number of examples of how institutions have mainstreamed these issues into upstream strategic and downstream assessment processes. This paper also identifies the further challenge of moving from a system of tools and indicators that focus principally on climate finance tracking - important to foster trust and progress on international cooperation - to a means of aligning activities across financial institutions and the entire economy with the transition to a low-carbon climate-resilient economic model necessary to achieve the 2 deg. C commitment. (authors)

HOW TO MAKE ANALYSIS WORK IN BUSINESS INTELLIGENCE SOFTWARE

OpenAIRE

Axner, Dr Lilit

2009-01-01

Competitive Intelligence (CI) has been defined by many authors. These definitions do have certain differences but all of them have a main common feature: They put the accent on the analysis. The most precise definition is given by the Society for Competitive Intelligence Professionals (SCIP): “A systematic and ethical program for gathering, analyzing, and managing external information that can affect your company’s plans, decisions, and operations”. Business Intelligence (BI) is much broader ...

To what extent does weather influence individuals’ financial decision-making behaviour? Evidence from the spread-trading market

OpenAIRE

Wang, Shaosong

2016-01-01

This thesis, which is divided into 3 papers, investigates the relationship between weather and individuals’ trading behaviour in the spread-trading market. The spread-trading market offers the opportunity of examining individuals’ trading records, and thus enables the exploration of the impact of weather on individuals’ financial decision-making behaviours. The first paper investigates the effect of a range of weather variables on individual spread traders’ hourly trading volumes and their pr...

Family Health and Financial Literacy--Forging the Connection

Science.gov (United States)

Braun, Bonnie; Kim, Jinhee; Anderson, Elaine A.

2009-01-01

Families are at-risk of or experiencing a diminished quality of living and life in current economic times and difficult decisions are required. Health and financial literacy are the basis for wise personal and public decision making. Family and consumer sciences (FCS) professionals can forge connections between health and financial literacy to…

The Role of Intelligence in Social Learning.

Science.gov (United States)

Vostroknutov, Alexander; Polonio, Luca; Coricelli, Giorgio

2018-05-02

Studies in cultural evolution have uncovered many types of social learning strategies that are adaptive in certain environments. The efficiency of these strategies also depends on the individual characteristics of both the observer and the demonstrator. We investigate the relationship between intelligence and the ways social and individual information is utilised to make decisions in an uncertain environment. We measure fluid intelligence and study experimentally how individuals learn from observing the choices of a demonstrator in a 2-armed bandit problem with changing probabilities of a reward. Participants observe a demonstrator with high or low fluid intelligence. In some treatments they are aware of the intelligence score of the demonstrator and in others they are not. Low fluid intelligence individuals imitate the demonstrator more when her fluid intelligence is known than when it is not. Conversely, individuals with high fluid intelligence adjust their use of social information, as the observed behaviour changes, independently of the knowledge of the intelligence of the demonstrator. We provide evidence that intelligence determines how social and individual information is integrated in order to make choices in a changing uncertain environment.

Financial analysis as a financial management instrument

Directory of Open Access Journals (Sweden)

Stehlíková Beáta

2001-12-01

Full Text Available The financial market is one of the elements of the market-oriented economy. The financial analysis is a fundamental element of the financial controlling business. The purpose of this article is to inform briefly about horizontal and vertical financial statements analysis as the source of competitive advantage of the firm. The article is divided into two parts. First describes financial analysis and financial statements generally. Second, it presents a practical contribution of the horizontal and vertical financial statements analysis at the controlled businesses as financial management tools, which identify the financial position, market behaviour, correlations between the net profit and the prohibitively cost and operating profit, the financial activities profit, the income tax etc.Business, which the analysed firm operates in asks a provable claim on the high value of fixed assets. The capital composition of the firm is call to typify for the state-owned enterprise that was transformed to private joint-stock companies. Analysis is specially pleading for the needs considering the price of the borrowed capital in the capital structure rating. Fault factor ø value talks about needs for the cost regulation. Stair-step conception used for counting of the net profit in the accountant period indicates the financial profit, alternatively loss, as the distinguished pre-tax profit element. Picture about firm’s financial results can be completed with the information about the income tax value. Form of financial analyses presented in the article entablature the accents on the necessity to compare several accounting period and on the necessity of complex understanding of statements accounting slide “en bloc”.Financial analyse makes the decision makers possible to screen potential partners before the cooperation starts. On the other side, it makes a possibility to influence the production process, sales and financial management during the accounting

Cognitive Tutoring based on Intelligent Decision Support in the PENTHA Instructional Design Model

Science.gov (United States)

dall'Acqua, Luisa

2010-06-01

The research finality of this paper is how to support Authors to develop rule driven—subject oriented, adaptable course content, meta-rules—representing the disciplinary epistemology, model of teaching, Learning Path structure, and assessment parameters—for intelligent Tutoring actions in a personalized, adaptive e-Learning environment. The focus is to instruct the student to be a decision manager for himself, able to recognize the elements of a problem, select the necessary information with the perspective of factual choices. In particular, our research intends to provide some fundamental guidelines for the definition of didactical rules and logical relations, that Authors should provide to a cognitive Tutoring system through the use of an Instructional Design method (PENTHA Model) which proposes an educational environment, able to: increase productivity and operability, create conditions for a cooperative dialogue, developing participatory research activities of knowledge, observations and discoveries, customizing the learning design in a complex and holistic vision of the learning / teaching processes.

The Connections Between Team Emotional Intelligence and Team Effectiveness in Financial Services - Case X Oyj

OpenAIRE

Peltola, Maija

2016-01-01

The increasing need for growing effectiveness in companies dealing with challenges of globalized markets has heightened the need for research on what makes work groups or teams more effective. Since the 1990's the concept of emotional intelligence has intrigued researchers in the field of both psychology and business economics. Recently, there has been growing interest in studying the connections between emotional intelligence and effectiveness or performance. Emotional intelligence has been ...

An Intelligent Clinical Decision Support System for Patient-Specific Predictions to Improve Cervical Intraepithelial Neoplasia Detection

Directory of Open Access Journals (Sweden)

Panagiotis Bountris

2014-01-01

Full Text Available Nowadays, there are molecular biology techniques providing information related to cervical cancer and its cause: the human Papillomavirus (HPV, including DNA microarrays identifying HPV subtypes, mRNA techniques such as nucleic acid based amplification or flow cytometry identifying E6/E7 oncogenes, and immunocytochemistry techniques such as overexpression of p16. Each one of these techniques has its own performance, limitations and advantages, thus a combinatorial approach via computational intelligence methods could exploit the benefits of each method and produce more accurate results. In this article we propose a clinical decision support system (CDSS, composed by artificial neural networks, intelligently combining the results of classic and ancillary techniques for diagnostic accuracy improvement. We evaluated this method on 740 cases with complete series of cytological assessment, molecular tests, and colposcopy examination. The CDSS demonstrated high sensitivity (89.4%, high specificity (97.1%, high positive predictive value (89.4%, and high negative predictive value (97.1%, for detecting cervical intraepithelial neoplasia grade 2 or worse (CIN2+. In comparison to the tests involved in this study and their combinations, the CDSS produced the most balanced results in terms of sensitivity, specificity, PPV, and NPV. The proposed system may reduce the referral rate for colposcopy and guide personalised management and therapeutic interventions.

An intelligent clinical decision support system for patient-specific predictions to improve cervical intraepithelial neoplasia detection.

Science.gov (United States)

Bountris, Panagiotis; Haritou, Maria; Pouliakis, Abraham; Margari, Niki; Kyrgiou, Maria; Spathis, Aris; Pappas, Asimakis; Panayiotides, Ioannis; Paraskevaidis, Evangelos A; Karakitsos, Petros; Koutsouris, Dimitrios-Dionyssios

2014-01-01

Nowadays, there are molecular biology techniques providing information related to cervical cancer and its cause: the human Papillomavirus (HPV), including DNA microarrays identifying HPV subtypes, mRNA techniques such as nucleic acid based amplification or flow cytometry identifying E6/E7 oncogenes, and immunocytochemistry techniques such as overexpression of p16. Each one of these techniques has its own performance, limitations and advantages, thus a combinatorial approach via computational intelligence methods could exploit the benefits of each method and produce more accurate results. In this article we propose a clinical decision support system (CDSS), composed by artificial neural networks, intelligently combining the results of classic and ancillary techniques for diagnostic accuracy improvement. We evaluated this method on 740 cases with complete series of cytological assessment, molecular tests, and colposcopy examination. The CDSS demonstrated high sensitivity (89.4%), high specificity (97.1%), high positive predictive value (89.4%), and high negative predictive value (97.1%), for detecting cervical intraepithelial neoplasia grade 2 or worse (CIN2+). In comparison to the tests involved in this study and their combinations, the CDSS produced the most balanced results in terms of sensitivity, specificity, PPV, and NPV. The proposed system may reduce the referral rate for colposcopy and guide personalised management and therapeutic interventions.

Financial Incentives Differentially Regulate Neural Processing of Positive and Negative Emotions during Value-Based Decision-Making

Directory of Open Access Journals (Sweden)

Anne M. Farrell

2018-02-01

Full Text Available Emotional and economic incentives often conflict in decision environments. To make economically desirable decisions then, deliberative neural processes must be engaged to regulate automatic emotional reactions. In this functional magnetic resonance imaging (fMRI study, we evaluated how fixed wage (FW incentives and performance-based (PB financial incentives, in which pay is proportional to outcome, differentially regulate positive and negative emotional reactions to hypothetical colleagues that conflicted with the economics of available alternatives. Neural activity from FW to PB incentive contexts decreased for positive emotional stimuli but increased for negative stimuli in middle temporal, insula, and medial prefrontal regions. In addition, PB incentives further induced greater responses to negative than positive emotional decisions in the frontal and anterior cingulate regions involved in emotion regulation. Greater response to positive than negative emotional features in these regions also correlated with lower frequencies of economically desirable choices. Our findings suggest that whereas positive emotion regulation involves a reduction of responses in valence representation regions, negative emotion regulation additionally engages brain regions for deliberative processing and signaling of incongruous events.

Financial Incentives Differentially Regulate Neural Processing of Positive and Negative Emotions during Value-Based Decision-Making.

Science.gov (United States)

Farrell, Anne M; Goh, Joshua O S; White, Brian J

2018-01-01

Emotional and economic incentives often conflict in decision environments. To make economically desirable decisions then, deliberative neural processes must be engaged to regulate automatic emotional reactions. In this functional magnetic resonance imaging (fMRI) study, we evaluated how fixed wage (FW) incentives and performance-based (PB) financial incentives, in which pay is proportional to outcome, differentially regulate positive and negative emotional reactions to hypothetical colleagues that conflicted with the economics of available alternatives. Neural activity from FW to PB incentive contexts decreased for positive emotional stimuli but increased for negative stimuli in middle temporal, insula, and medial prefrontal regions. In addition, PB incentives further induced greater responses to negative than positive emotional decisions in the frontal and anterior cingulate regions involved in emotion regulation. Greater response to positive than negative emotional features in these regions also correlated with lower frequencies of economically desirable choices. Our findings suggest that whereas positive emotion regulation involves a reduction of responses in valence representation regions, negative emotion regulation additionally engages brain regions for deliberative processing and signaling of incongruous events.

Real-Time Business Intelligence for the Utilities Industry

Directory of Open Access Journals (Sweden)

Janina POPEANGA

2012-12-01

Full Text Available In today’s competitive environment with rapid innovation in smart metering and smart grids, there is an increased need for real-time business intelligence (RTBI in the utilities industry. Giving the fact that this industry is an environment where decisions are time sensitive, RTBI solutions will help utilities improve customer experiences and operational efficiencies. The focus of this paper is on the importance of real-time business intelligence (RTBI in the utilities industry, outlining our vision of real-time business intelligence for this industry. Besides the analysis in this area, the article presents as a case study the Oracle Business Intelligence solution for utilities.

From Management Information Systems to Business Intelligence: The Development of Management Information Needs

Directory of Open Access Journals (Sweden)

Gėlytė Kazakevičienė

2013-09-01

Full Text Available Despite the advances in IT, information systems intended for management informing did not uniformly fulfil the increased expectations of users; this can be said mostly about complex information needs. Although some of the technologies for supporting complicated insights, like management decision support systems and technologies, experienced reduction in interest both from researchers and practitioners, this did not reduce the importance of well-supported business informing and decision making. Being attributed to the group of intelligent systems and technologies, decision support (DS technologies have been largely supplemented by business intelligence (BI technologies. Both types of technologies are supported by respective information technologies, which often appear to be quite closely related. The objective of this paper is to define relations between simple and complex informing intended to satisfy different sets of needs and provided by different sets of support tools. The paper attempts to put together decision support and business intelligence technologies, based on common goals of sense-making and use of advanced analytical tools. A model of two interconnected cycles has been developed to relate the activities of decision support and business intelligence. Empirical data from earlier research is used to direct possible further insights into this area.

Testosterone, Cortisol and Financial Risk-Taking

Directory of Open Access Journals (Sweden)

Joe Herbert

2018-05-01

Full Text Available Both testosterone and cortisol have major actions on financial decision-making closely related to their primary biological functions, reproductive success and response to stress, respectively. Financial risk-taking represents a particular example of strategic decisions made in the context of choice under conditions of uncertainty. Such decisions have multiple components, and this article considers how much we know of how either hormone affects risk-appetite, reward value, information processing and estimation of the costs and benefits of potential success or failure, both personal and social. It also considers how far we can map these actions on neural mechanisms underlying risk appetite and decision-making, with particular reference to areas of the brain concerned in either cognitive or emotional functions.

A study on the effect of emotional intelligence on retail investors’ behavior

Directory of Open Access Journals (Sweden)

Reza Pirayesh

2014-01-01

Full Text Available Investment decisions are normally accomplished based on fundamental or technical methods. However, there are many cases where investors make their investment decisions based on their emotions. This study investigates the effects of various factors including biases representation, mental accounting and risk aversion when an investment decision is executed. In other words, the study examines the effects of emotional intelligence components on retail investors’ investment strategies on Tehran Stock Exchange (TSE. The proposed study selects a sample of 270 investors who had some experiences on TSE randomly and using a questionnaire based survey detected that there was a positive and meaningful relationship between emotional intelligence and investment decisions.

Framework for developing a regional system architecture for intelligent transportation systems

Science.gov (United States)

1997-01-01

Defining an architecture for intelligent transportation systems (ITS) at the regional level, where most ITS deployment occurs, is constrained by jurisdictional, institutional, financial, political, and regulatory factors. These constraints provide op...

Quantifying the relationship between financial news and the stock market.

Science.gov (United States)

Alanyali, Merve; Moat, Helen Susannah; Preis, Tobias

2013-12-20

The complex behavior of financial markets emerges from decisions made by many traders. Here, we exploit a large corpus of daily print issues of the Financial Times from 2(nd) January 2007 until 31(st) December 2012 to quantify the relationship between decisions taken in financial markets and developments in financial news. We find a positive correlation between the daily number of mentions of a company in the Financial Times and the daily transaction volume of a company's stock both on the day before the news is released, and on the same day as the news is released. Our results provide quantitative support for the suggestion that movements in financial markets and movements in financial news are intrinsically interlinked.

Artificial intelligence and nuclear power. Report by the Technology Transfer Artificial Intelligence Task Team

International Nuclear Information System (INIS)

1985-06-01

The Artificial Intelligence Task Team was organized to review the status of Artificial Intelligence (AI) technology, identify guidelines for AI work, and to identify work required to allow the nuclear industry to realize maximum benefit from this technology. The state of the nuclear industry was analyzed to determine where the application of AI technology could be of greatest benefit. Guidelines and criteria were established to focus on those particular problem areas where AI could provide the highest possible payoff to the industry. Information was collected from government, academic, and private organizations. Very little AI work is now being done to specifically support the nuclear industry. The AI Task Team determined that the establishment of a Strategic Automation Initiative (SAI) and the expansion of the DOE Technology Transfer program would ensure that AI technology could be used to develop software for the nuclear industry that would have substantial financial payoff to the industry. The SAI includes both long and short term phases. The short-term phase includes projects which would demonstrate that AI can be applied to the nuclear industry safely, and with substantial financial benefit. The long term phase includes projects which would develop AI technologies with specific applicability to the nuclear industry that would not be developed by people working in any other industry

Warren Buffett, the intelligent investor

OpenAIRE

Popescu, D.

2010-01-01

Starting from the difficult economic conditions in Romania, the paper identifies the qualities of an intelligent investor on the background of the economic and financial crisis by presenting Warren Buffet’s strategy and action in the recent times. The conclusion is that Warren Buffet remains in the economic history as the most atypical capitalist that Americans have ever had and his behaviour could be successfully followed by the Romanian business men.

Handbook on Decision Making Vol 2 Risk Management in Decision Making

CERN Document Server

Lu, Jie; Zhang, Guangquan

2012-01-01

This book presents innovative theories, methodologies, and techniques in the field of risk management and decision making. It introduces new research developments and provides a comprehensive image of their potential applications to readers interested in the area. The collection includes: computational intelligence applications in decision making, multi-criteria decision making under risk, risk modelling,forecasting and evaluation, public security and community safety, risk management in supply chain and other business decision making, political risk management and disaster response systems. The book is directed to academic and applied researchers working on risk management, decision making, and management information systems.

The availability and use of competitive and business intelligence in ...

African Journals Online (AJOL)

Business intelligence (BI) plays a critical role in providing actionable intelligence to enable good business decision-making. International research shows clear evidence of the benefi ts of implementing sound. BI practices. However, within a South African business context, an understanding of the practice, impact and benefi ...

77 FR 46069 - Request for Information on Effective Financial Education

Science.gov (United States)

2012-08-02

...' financial decision-making capabilities. DATES: Comments must be received on or before October 31, 2012... public disclosure. Sensitive personal information such as account numbers or Social Security numbers... their financial decision making capabilities. OFE is interested in promoting innovation to assist...

Management Intelligent Systems : First International Symposium

CERN Document Server

Martínez-López, Francisco; Rodríguez, Juan

2012-01-01

The 2012 International Symposium on Management Intelligent Systems is believed to be the first international forum to present and discuss original, rigorous and significant contributions on Artificial Intelligence-based (AI) solutions—with a strong, practical logic and, preferably, with empirical applications—developed to aid the management of organizations in multiple areas, activities, processes and problem-solving; i.e., what we propose to be named as Management Intelligent Systems (MiS). The three-day event aimed to bring together researchers interested in this promising interdisciplinary field who came from areas as varied as management, marketing, and business in general, computer science, artificial intelligence, statistics, etc. This volume presents the proceedings of these activities in a collection of contributions with many original approaches. They address diverse Management and Business areas of application such as decision support, segmentation of markets, CRM, product design, service person...

Comparing the role of accruals and operating cash flows on users' decisions on financial statements: A case study of Tehran Stock Exchange

OpenAIRE

Mohsen Sohrabi Araghi; Sharifaldin Attari

2013-01-01

One of the major challenges facing all of individuals and organizations is decision-making based on the information. The issues of priority about cash flows and accruals data in decision-making process for different groups of financial statement users include investors, creditors, shareholders, directors, etc. one of the issues that has been controversial between accrual and cash accounting advocators for a long time. In this study, we survey the role of accruals and operating cash flows in d...

The intelligent system for accident identification in nuclear power plant

International Nuclear Information System (INIS)

Hernandez, Jorge Luis.

1998-01-01

Accidental situations in NPP are of greet concern for operators, the facility, regulatory bodies and the environment. This work proposes a design of intelligent system aimed to assist the operator in the process of decision making when initiator events with higher relative contribution to the reactor core damage occur. The intelligent System uses the results of the pre operational Probabilistic Safety Assessment and the Thermal hydraulic Safety Analyses of the NPP Juragua as source for building its knowledge base. The nucleus of the system is presented as a design of an intelligent hybrid system from the combination of the artificial intelligence techniques: fussy logic and artificial neural networks. The system works with variables from the process of the firsts circuit, second circuit and the containment and it is presented as a model for the integration of safety analyses in the process of decision making by the operator when tackling with accidental situations

Financial Accountant Versus Managerial Accountant in the Hotel Business System

Directory of Open Access Journals (Sweden)

Ivana Zubac

2012-01-01

Full Text Available From the perspective of financial or managerial accountant, subject of interest in this paper is the relationship of financial and managerial accounting in the hotel business. Being necessary functions within the business system of hotel company, their mutual connection as well as their differences are explained. The management of hotel company makes decisions based on accounting information from both parts of accounting. As support to hotel management in decision-making, financial accountant provides financial information about past events, while managerial accountant provides non-financial information oriented toward future. The example above is just one out of many specific tasks, which are performed by accountants of specific part of hotel accounting system. Without their support, the management could not make correct and timely decisions with certainty. The importance of the roles of financial and managerial accountant is reflected through need for a wide knowledge in the field of accounting in specific business conditions of hotel industry.

The impact of financial position on investment: an analysis for non-financial corporations in the euro area

OpenAIRE

Carmen Martínez-Carrascal; Annalisa Ferrando

2008-01-01

This paper analyses the impact that firms financial position has on investment decisions using panel data from a large sample of non-financial corporations(around 120,000 firms) in six euro area countries(Belgium, Germany, France, Italy, the Netherlands and Spain). The results indicate that financial position is important to explain capital expenditures, as financial pressure appears relevant in explaining investment dynamics when it is proxied by cash flow, indebtedness and debt burden. The ...

Intelligent Diagnostic Assistant for Complicated Skin Diseases through C5's Algorithm.

Science.gov (United States)

Jeddi, Fatemeh Rangraz; Arabfard, Masoud; Kermany, Zahra Arab

2017-09-01

Intelligent Diagnostic Assistant can be used for complicated diagnosis of skin diseases, which are among the most common causes of disability. The aim of this study was to design and implement a computerized intelligent diagnostic assistant for complicated skin diseases through C5's Algorithm. An applied-developmental study was done in 2015. Knowledge base was developed based on interviews with dermatologists through questionnaires and checklists. Knowledge representation was obtained from the train data in the database using Excel Microsoft Office. Clementine Software and C5's Algorithms were applied to draw the decision tree. Analysis of test accuracy was performed based on rules extracted using inference chains. The rules extracted from the decision tree were entered into the CLIPS programming environment and the intelligent diagnostic assistant was designed then. The rules were defined using forward chaining inference technique and were entered into Clips programming environment as RULE. The accuracy and error rates obtained in the training phase from the decision tree were 99.56% and 0.44%, respectively. The accuracy of the decision tree was 98% and the error was 2% in the test phase. Intelligent diagnostic assistant can be used as a reliable system with high accuracy, sensitivity, specificity, and agreement.

Automated Detection of Financial Events in News Text

NARCIS (Netherlands)

F.P. Hogenboom (Frederik)

2014-01-01

markdownabstractToday’s financial markets are inextricably linked with financial events like acquisitions, profit announcements, or product launches. Information extracted from news messages that report on such events could hence be beneficial for financial decision making. The ubiquity of news,

Business intelligence as a tool in the management academic

Directory of Open Access Journals (Sweden)

Juan Jose Camargo Vega

2016-06-01

Full Text Available This paper presents a study, analyze and evaluate characteristics of existing data in the academic community, in order to recommend a model to apply Business Intelligence. It starts from the assumption that knowing the effects on the academic community, if you have a corporate strategy to facilitate decision-making in educational institutions. The results are based on a three dimensional cube, which are combining strong to make decisions with the information made. Finally, we come to different conclusions enabling give sufficient grounds to recommend a model that Integrate Business Intelligence in the academic environment.

An intelligent agent for optimal river-reservoir system management

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Rieker, Jeffrey D.; Labadie, John W.

2012-09-01

A generalized software package is presented for developing an intelligent agent for stochastic optimization of complex river-reservoir system management and operations. Reinforcement learning is an approach to artificial intelligence for developing a decision-making agent that learns the best operational policies without the need for explicit probabilistic models of hydrologic system behavior. The agent learns these strategies experientially in a Markov decision process through observational interaction with the environment and simulation of the river-reservoir system using well-calibrated models. The graphical user interface for the reinforcement learning process controller includes numerous learning method options and dynamic displays for visualizing the adaptive behavior of the agent. As a case study, the generalized reinforcement learning software is applied to developing an intelligent agent for optimal management of water stored in the Truckee river-reservoir system of California and Nevada for the purpose of streamflow augmentation for water quality enhancement. The intelligent agent successfully learns long-term reservoir operational policies that specifically focus on mitigating water temperature extremes during persistent drought periods that jeopardize the survival of threatened and endangered fish species.

CVFA: Coal vendor financial advisor

International Nuclear Information System (INIS)

Goote, W.G.; Andersen, S.

1992-01-01

An expert system for determining coal vendor financial viability in fuel purchasing contracts at an electric utility is described. The system blends rules, data objects, and financial knowledge to provide a rational basis for accepting or rejecting coal contracts given the financial capability of the coal vendor. The discussion concludes with a critique of managerial issues in the development of the system and its use in decision making. 3 refs., 1 fig

Personal finance: there are no shortcuts to financial security.

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Yarkony, Kathryn

2009-12-01

Perioperative nurses have skills that lend themselves to sound financial decision-making, and during these difficult economic times, it is important to know how to secure earnings for the future. Key strategies include saving for retirement, consulting a financial advisor, investing in reliable vehicles, holding investments until the market stabilizes, and controlling credit card debt. Nurses can use the nursing process of assessment, diagnosis, planning, implementation, and evaluation to help them make sound financial decisions. (c) AORN, Inc, 2009.

Comparing the Financial Literacy of Public School, Christian School, and Homeschooled Students

Science.gov (United States)

Wright, Tricia

2016-01-01

The 2008 recession underscored public concern that financial illiteracy has costs that are not limited to the individual who makes poor financial decisions. Considering that college students with limited financial experience are making legally binding decisions, this study explored the personal finance literacy and behavior of Christian college…

Knowledge, decision making, and uncertainty

International Nuclear Information System (INIS)

Fox, J.

1986-01-01

Artificial intelligence (AI) systems depend heavily upon the ability to make decisions. Decisions require knowledge, yet there is no knowledge-based theory of decision making. To the extent that AI uses a theory of decision-making it adopts components of the traditional statistical view in which choices are made by maximizing some function of the probabilities of decision options. A knowledge-based scheme for reasoning about uncertainty is proposed, which extends the traditional framework but is compatible with it

The role of logistics information system in the business-decision process

OpenAIRE

Galicic, Vlado; Pilepic, Ljubica

2007-01-01

The development of logistics information systems that support decision-making, together with the use of business intelligence, provides assistance and support to logistics managers in the decision process, thereby impacting on the quality of business and productivity. Being better informed and having greater intelligence for decision-making can help to create new value and gain competitive advantage. Logistics business systems in a tourism destination appreciate the importance of information ...

Clinical and Business Intelligence: Why It's Important to Your Pharmacy.

Science.gov (United States)

Pinto, Brian; Fox, Brent I

2016-07-01

According to the Healthcare Information Management and Systems Society, "Clinical & Business Intelligence (C&BI) is the use and analysis of data captured in the healthcare setting to directly inform decision-making" (http://www.himss.org/library/clinical-business-intelligence). Some say that it is the right information given to the right person at the right time in the right way. No matter how you define it, the fact remains that timely access, synthesis, and visualization of clinical data have become key to how health professionals make patient care decisions and improve care delivery.

Strategic Mapping of economic intelligence in the public sector of El Salvador

OpenAIRE

Mónica María Cerritos Ascencio

2016-01-01

This study aims to focus on the implementation and development of economic intelligence as a tool for strategic decision making at the governmental level. Likewise, it is also expected that the identification of key players in economic intelligence will allow to create areas of complementarity and coordination to achieve common goals. The document contains a brief summary of economic intelligence today, a theoretical approach to implementation – as economic intelligence should be implemented ...

Inteligência social e inteligência competitivaSocial intelligence and competitive intelligence

Directory of Open Access Journals (Sweden)

Kira Tarapanoff

2004-01-01

Full Text Available Coloca os conceitos de inteligência social e coletiva no contexto da Sociedade da informação e do Conhecimento. Traça o desenvolvimento da inteligência econômica nos países e a aplicação da inteligência competitiva nas organizações. Defende que a ação conjunta do processo de gestão da informação e gestão do conhecimento, ambas em apoio às estratégia e missão organizacional, apresentam para o processo de tomada de decisão uma propriedade emergente que é a inteligência institucional.The concepts of social and collective intelligence are placed within the context of the Information and Knowledge Society. The development of the economic intelligence is given as well as its application and development in organizations as competitive intelligence. The thesis defended is that the joint action of the information and knowledge management processes, both in support to strategies and organization’s mission , have na emerging property for the decision making process – that is the institutional intelligence.

The neural basis of financial risk taking.

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Kuhnen, Camelia M; Knutson, Brian

2005-09-01

Investors systematically deviate from rationality when making financial decisions, yet the mechanisms responsible for these deviations have not been identified. Using event-related fMRI, we examined whether anticipatory neural activity would predict optimal and suboptimal choices in a financial decision-making task. We characterized two types of deviations from the optimal investment strategy of a rational risk-neutral agent as risk-seeking mistakes and risk-aversion mistakes. Nucleus accumbens activation preceded risky choices as well as risk-seeking mistakes, while anterior insula activation preceded riskless choices as well as risk-aversion mistakes. These findings suggest that distinct neural circuits linked to anticipatory affect promote different types of financial choices and indicate that excessive activation of these circuits may lead to investing mistakes. Thus, consideration of anticipatory neural mechanisms may add predictive power to the rational actor model of economic decision making.

Financial Energy Conservation Projects at Independent Colleges and Universities.

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Morrell, L. R.

1981-01-01

Factors affecting financial decisions for energy conservation projects at independent colleges and universities and methods that may be used when making a financial investment decision are examined, along with sources of funding for the projects. Projects that result in the conservation of energy resources might, in a time of extreme shortages,…

INFORMATION SYSTEM OF THE FINANCIAL ANALYSIS

Directory of Open Access Journals (Sweden)

MIRELA MONEA

2013-12-01

Full Text Available Financial analysis provides the information necessary for decision making, and also helps both the external and internal users of these. The results of the financial analysis work are dependent on the quality, accuracy, relevance and effectiveness of the information collected, and processed. Essential sources of information for financial analysis are financial statements, which are considered the raw material of financial analysis. One of the financial statements -the balance sheet - provides information about assets, liabilities, equity, liquidity, solvency, risk, financial flexibility. The profit and loss account is a synthesis accounting document, part of the financial statement reporting enterprise financial performances during of a specified accounting period and summarizes all revenues earned and expenses of an accounting period and reports the results.

Strong Genetic Overlap Between Executive Functions and Intelligence

OpenAIRE

Engelhardt, Laura E.; Mann, Frank D.; Briley, Daniel A.; Church, Jessica A.; Harden, K. Paige; Tucker-Drob, Elliot M.

2016-01-01

Executive functions (EFs) are cognitive processes that control, monitor, and coordinate more basic cognitive processes. EFs play instrumental roles in models of complex reasoning, learning, and decision-making, and individual differences in EFs have been consistently linked with individual differences in intelligence. By middle childhood, genetic factors account for a moderate proportion of the variance in intelligence, and these effects increase in magnitude through adolescence. Genetic infl...

The predictive power of zero intelligence in financial markets.

Science.gov (United States)

Farmer, J Doyne; Patelli, Paolo; Zovko, Ilija I

2005-02-08

Standard models in economics stress the role of intelligent agents who maximize utility. However, there may be situations where constraints imposed by market institutions dominate strategic agent behavior. We use data from the London Stock Exchange to test a simple model in which minimally intelligent agents place orders to trade at random. The model treats the statistical mechanics of order placement, price formation, and the accumulation of revealed supply and demand within the context of the continuous double auction and yields simple laws relating order-arrival rates to statistical properties of the market. We test the validity of these laws in explaining cross-sectional variation for 11 stocks. The model explains 96% of the variance of the gap between the best buying and selling prices (the spread) and 76% of the variance of the price diffusion rate, with only one free parameter. We also study the market impact function, describing the response of quoted prices to the arrival of new orders. The nondimensional coordinates dictated by the model approximately collapse data from different stocks onto a single curve. This work is important from a practical point of view, because it demonstrates the existence of simple laws relating prices to order flows and, in a broader context, suggests there are circumstances where the strategic behavior of agents may be dominated by other considerations.

The predictive power of zero intelligence in financial markets

Science.gov (United States)

Farmer, J. Doyne; Patelli, Paolo; Zovko, Ilija I.

2005-02-01

Standard models in economics stress the role of intelligent agents who maximize utility. However, there may be situations where constraints imposed by market institutions dominate strategic agent behavior. We use data from the London Stock Exchange to test a simple model in which minimally intelligent agents place orders to trade at random. The model treats the statistical mechanics of order placement, price formation, and the accumulation of revealed supply and demand within the context of the continuous double auction and yields simple laws relating order-arrival rates to statistical properties of the market. We test the validity of these laws in explaining cross-sectional variation for 11 stocks. The model explains 96% of the variance of the gap between the best buying and selling prices (the spread) and 76% of the variance of the price diffusion rate, with only one free parameter. We also study the market impact function, describing the response of quoted prices to the arrival of new orders. The nondimensional coordinates dictated by the model approximately collapse data from different stocks onto a single curve. This work is important from a practical point of view, because it demonstrates the existence of simple laws relating prices to order flows and, in a broader context, suggests there are circumstances where the strategic behavior of agents may be dominated by other considerations. double auction market | market microstructure | agent-based models

A multi-assets artificial stock market with zero-intelligence traders

Science.gov (United States)

Ponta, L.; Raberto, M.; Cincotti, S.

2011-01-01

In this paper, a multi-assets artificial financial market populated by zero-intelligence traders with finite financial resources is presented. The market is characterized by different types of stocks representing firms operating in different sectors of the economy. Zero-intelligence traders follow a random allocation strategy which is constrained by finite resources, past market volatility and allocation universe. Within this framework, stock price processes exhibit volatility clustering, fat-tailed distribution of returns and reversion to the mean. Moreover, the cross-correlations between returns of different stocks are studied using methods of random matrix theory. The probability distribution of eigenvalues of the cross-correlation matrix shows the presence of outliers, similar to those recently observed on real data for business sectors. It is worth noting that business sectors have been recovered in our framework without dividends as only consequence of random restrictions on the allocation universe of zero-intelligence traders. Furthermore, in the presence of dividend-paying stocks and in the case of cash inflow added to the market, the artificial stock market points out the same structural results obtained in the simulation without dividends. These results suggest a significative structural influence on statistical properties of multi-assets stock market.

Financial Literacy of Latvian Citizens: Findings and Conclusions

OpenAIRE

Guna Ciemleja

2016-01-01

The global financial crisis and financial stability issues of the Eurozone countries have demonstrated that the total of financial knowledge and skills of the population that lets people make informed and efficient decisions is of utmost importance. Considering high social importance of financial education, it is necessary to develop a knowledge platform to increase the level of financial literacy. The results obtained in the process of assessment of the level of individual's financial litera...

Credit counseling: a substitute for consumer financial literacy?

OpenAIRE

Disney, Richard; Gathergood, John; Weber, Jörg

2015-01-01

Is financial literacy a substitute or complement for financial advice? In this paper we analyze the decision by consumers to seek financial advice in the form of credit counseling concerning their credit and debt. Credit counseling is an important component of the consumer credit sector for consumers facing debt problems. We combine instrumental variable approaches to account for the endogeneity of an individual’s financial situation to financial literacy, and the endogeneity of financial lit...

“We’re the Ones that Stand Up and Tell You the Truth”: Necessity of Ethical Intelligence Services

Directory of Open Access Journals (Sweden)

Nathan J. Phillips

2016-05-01

Full Text Available The concept of ethical intelligence is sometimes cited as an oxymoron. However, as the ultimate responsibility for intelligence agencies work lies with the government of the day, it is posited that intelligence-related decisions are ethically sound. This is because ethical standards provide the confidence that decisions can be judged fairly, giving governments legitimacy to carrying out what may otherwise be considered questionable activities.

TAX RESEARCH Financial Accounting versus Tax Accounting - Tax Rules’ Impact on Investment Decisions

Directory of Open Access Journals (Sweden)

Dr.Sc. Skender Ahmeti

2014-02-01

Full Text Available This paper provides guidance for all those interested in research related to tax. In the study are included three main areas dealing with taxes and about taxes: (1 the role of information in corporation tax expenditures under the rules and laws of the country against financial statements according to international accounting standards, (2 case study PTK; how much effective tax and tax on extra profit has it paid (3 the impact of tax rules on investment decisions - the reasons and profits of the company and the host country. We will try to summarize here the three areas of study and come to some conclusions on how to deal with fiscal policy in Kosovo. In addition, we will offer our opinion on some interesting and important questions for future research.

Warren Buffett, the intelligent investor

Directory of Open Access Journals (Sweden)

Popescu, D.

2010-12-01

Full Text Available Starting from the difficult economic conditions in Romania, the paper identifies the qualities of an intelligent investor on the background of the economic and financial crisis by presenting Warren Buffet’s strategy and action in the recent times. The conclusion is that Warren Buffet remains in the economic history as the most atypical capitalist that Americans have ever had and his behaviour could be successfully followed by the Romanian business men.

Business Intelligence Issues for Sustainability Projects

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Mihaela Muntean

2018-01-01

Full Text Available Business intelligence (BI is an umbrella term for strategies, technologies, and information systems used by the companies to extract from large and various data, according to the value chain, relevant knowledge to support a wide range of operational, tactical, and strategic business decisions. Sustainability, as an integrated part of the corporate business, implies the integration of the new approach at all levels: business model, performance management system, business intelligence project, and data model. Both business intelligence issues presented in this paper represent the contribution of the author in modeling data for supporting further BI approaches in corporate sustainability initiatives. Multi-dimensional modeling has been used to ground the proposals and to introduce the key performance indicators. The démarche is strengthened with implementation aspects and reporting examples. More than ever, in the Big Data era, bringing together business intelligence methods and tools with corporate sustainability is recommended.

Financial capacity in older adults: a growing concern for clinicians.

Science.gov (United States)

Gardiner, Paul A; Byrne, Gerard J; Mitchell, Leander K; Pachana, Nancy A

2015-02-02

Older people with cognitive impairment and/or dementia may be particularly vulnerable to diminished financial decision-making capacity. Financial capacity refers to the ability to satisfactorily manage one's financial affairs in a manner consistent with personal self-interest and values. Impairment of financial capacity makes the older individual vulnerable to financial exploitation, may negatively affect their family's financial situation and places strain on relationships within the family. Clinicians are often on the front line of responding to queries regarding decision-making capacity, and clinical evaluation options are often not well understood. Assessment of financial capacity should include formal objective assessment in addition to a clinical interview and gathering contextual data. Development of a flexible, empirically supported and clinically relevant assessment approach that spans all dimensions of financial capacity yet is simple enough to be used by non-specialist clinicians is needed.

An evolutionary approach to financial history.

Science.gov (United States)

Ferguson, N

2009-01-01

Financial history is not conventionally thought of in evolutionary terms, but it should be. Traditional ways of thinking about finance, dating back to Hilferding, emphasize the importance of concentration and economies of scale. But these approaches overlook the rich "biodiversity" that characterizes the financial world. They also overlook the role of natural selection. To be sure, natural selection in the financial world is not exactly analogous to the processes first described by Darwin and elaborated on by modern biologists. There is conscious adaptation as well as random mutation. Moreover, there is something resembling "intelligent design" in finance, whereby regulators and legislators act in a quasidivine capacity, putting dinosaurs on life support. The danger is that such interventions in the natural processes of the market may ultimately distort the evolutionary process, by getting in the way of Schumpeter's "creative destruction."

Algorithms for Efficient Intelligence Collection

Science.gov (United States)

2013-09-01

2006. Cortical substrates for exploratory decisions in humans. Nature 441(7095) 876–879. Deitchman, S. J. 1962. A lanchester model of guerrilla...Monterey, CA. Pearl, J. 1986. Fusion, propagation and structuring in belief networks. Artificial Intelligence 29 241–288. Schaffer, M. B. 1968. Lanchester

An Intelligent Handover Management System for Future Generation Wireless Networks

Directory of Open Access Journals (Sweden)

Kassar Meriem

2008-01-01

Full Text Available Abstract Future generation wireless networks should provide to mobile users the best connectivity to services anywhere at anytime. The most challenging problem is the seamless intersystem/vertical mobility across heterogeneous wireless networks. In order to answer it, a vertical handover management system is needed. In our paper, we propose an intelligent solution answering user requirements and ensuring service continuity. We focus on a vertical handover decision strategy based on the context-awareness concept. The given strategy chooses the appropriate time and the most suitable access network among those available to perform a handover. It uses advanced decision algorithms (for more efficiency and intelligence and it is governed by handover policies as decision rules (for more flexibility and optimization. To maintain a seamless service continuity, handover execution is based on mobile IP functionalities. We study our decision system in a case of a 3G/UMTS-WLAN scenario and we discuss all the handover decision issues in our solution.

Financial Literacy and Economic Outcomes: Evidence and Policy Implications.

Science.gov (United States)

Mitchell, Olivia S; Lusardi, Annamaria

2015-01-01

This paper reviews what we have learned over the past decade about financial literacy and its relationship to financial decision-making around the world. Using three questions, we have surveyed people in several countries to determine whether they have the fundamental knowledge of economics and finance needed to function as effective decision-makers. We find that levels of financial literacy are low not only in the United States. but also in many other countries including those with well-developed financial markets. Moreover, financial illiteracy is particularly acute for some demographic groups, especially women and the less-educated. These findings are important since financial literacy is linked to borrowing, saving, and spending patterns. We also offer new evidence on financial literacy among high school students drawing on the 2012 Programme for International Student Assessment implemented in 18 countries. Last, we discuss the implications of this research for policy.

The impact of coaching on the emotional and social intelligence competencies of leaders

Directory of Open Access Journals (Sweden)

Marlene Dippenaar

2017-03-01

Aim: The purpose of this study was to determine, describe and evaluate the impact of a theoretically substantiated coaching intervention on the emotional and social intelligence competencies of leaders in a financial services company. Setting: The setting of the study is a financial services company in South Africa. Methods: A mixed method approach using a quantitative and qualitative research design was considered appropriate. The quantitative research method consisted of a quasi-experimental design using a non-equivalent pre- and post test control group to measure the impact of the coaching intervention on a sample of 30 leaders. The Bar-On EQ-i scale was selected as a reliable and valid measure of emotional and social intelligence competencies. Wilcoxon’s statistic was calculated to determine the statistical significance of score differences between the experimental (N = 30 and control (N = 30 groups. The qualitative research method was comprised of semi-structured interviews with six of the leaders and their supervisors. Results: The statistical results indicated that coaching significantly impacted the emotional and social intelligence competencies of leaders in terms of their overall emotional quotient (EQ, intrapersonal competency, interpersonal skills, stress management, self-regard and empathy. The semi-structured interviews provided rich descriptive themes and evaluations that corroborated the quantitative findings. Conclusion: This research provided convincing empirical evidence of the positive impact of a long-term, spaced and goal-focused coaching intervention on the emotional and social intelligence competencies of leaders in a financial services institution. The finding suggests that a theoretically well substantiated coaching intervention and a robust empirical study can be effective in demonstrating the impact of coaching on the emotional and social intelligence competencies of leaders. However, the implications of the limitations pointed

Expected value information improves financial risk taking across the adult life span.

Science.gov (United States)

Samanez-Larkin, Gregory R; Wagner, Anthony D; Knutson, Brian

2011-04-01

When making decisions, individuals must often compensate for cognitive limitations, particularly in the face of advanced age. Recent findings suggest that age-related variability in striatal activity may increase financial risk-taking mistakes in older adults. In two studies, we sought to further characterize neural contributions to optimal financial risk taking and to determine whether decision aids could improve financial risk taking. In Study 1, neuroimaging analyses revealed that individuals whose mesolimbic activation correlated with the expected value estimates of a rational actor made more optimal financial decisions. In Study 2, presentation of expected value information improved decision making in both younger and older adults, but the addition of a distracting secondary task had little impact on decision quality. Remarkably, provision of expected value information improved the performance of older adults to match that of younger adults at baseline. These findings are consistent with the notion that mesolimbic circuits play a critical role in optimal choice, and imply that providing simplified information about expected value may improve financial risk taking across the adult life span.