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Dynamic and diverse disruptions are continuously challenging the functionality of Electrical Grid. Climate change and integration of modern communication technologies in the grid raises new challenges, and past few year events highlight the need to address these challenges especially for the electrical power distribution system. Quick recovery of the grid after an outage is vital in order to minimize...
We are interested in the problem of evaluating and selecting one or more ideas to be pursued in the idea stage of the innovation process. The so-called scoring method, which is based on Multi-Attribute Utility Theory is very commonly used for this task. We know of many corporations that select their innovation projects using this technique. We present original arguments from three different sources...
The Internet of Things (IoT) refers to uniquely identifiable objects (things) and their virtual representations in an Internet-like structure. IoT service Providers (IoTSP), i.e. the companies who intend to offer IoT-based services, may utilize cloud computing which offers a cheap, ubiquitous, unlimited and elastic solution for the supporting infrastructure. In this way the IoTSP will deploy its Virtual...
Decision making in uncertain and risky environments is a prominent area of research. Standard economic theories fail to fully explain human behaviour, while a potentially promising alternative may lie in the direction of Reinforcement Learning (RL) theory. We analyse data for 46 players extracted from a financial market online game and test whether Reinforcement Learning (Q-Learning) could capture...
The expansion of urbanization and demographic changes defines not only economic demands but makes governments increasingly experience a serious force toward a sustainable development, which causes a need for a qualified and retaining competitive workforce. In view of this trend, governments and businesses start considering technology as vital enabler to solve the rising urbanization issues and improve...
In experimental economics, an important issue for obtaining reliable behavioral results is the design of payoff procedures for giving incentives to the subjects. One common payoff procedure in multiple lottery choice tasks is the random payoff mechanism. This mechanism provides incentives for a truthful response in every single choice task since every decision should be treated as independent from...
We consider an optimization problem where the decision variable is a string of bounded length. For some time there has been an interest in bounding the performance of the greedy strategy for this problem. Here, we provide weakened sufficient conditions for the greedy strategy to be bounded by a factor of (1 − (1 − 1/K)K), where K is the optimization horizon length. Specifically, we introduce the notions...
In this paper, we analyze and compare general development and individual behavior on two non-profit internet-based hospitality exchange services -- bewelcome.org and warmshowers.org. We measure the effort needed to achieve a real-life interaction, whereby the advantages of mutual altruism arise. The effort needed is the communication quantified in units of time. Since the amount of effort is not obvious...
Supply Chain Information Systems (SCIS) and their impact on organisational performance has been studied by a number of studies. This research seeks to extend this body of knowledge by adopting a fresh lens to explore empirically the relationship between organisational performance and SCIS in circumstances of economic downturn and financial turbulence. The statistical relationship between Supply Chain...
In this paper, the Cartesian products on fuzzy soft set are defined, and the fuzzy soft relations can be presented based on the Cartesian products, including uni-int decision relation and level fuzzy soft relation. By using these new concepts an unt-int decision making method based on fuzzy soft set is constructed to selects a fuzzy set of optimum elements from the alternatives. Finally, an example...
When investigating bounded rationality, economists favor automaton models of Chomsky Type-3 as a model for human decision making over other concepts. Chomsky Type-3 automaton models are especially suited for (repetitions of) decision problems with limited strategy sets and players. In this paper, we discuss the limitations of different automaton models when capturing human decision making. Thereby,...
The solutions of security problems and crisis situations are accompanied by many specific traits. Some of them are typical for all crisis situations, some of them denote the one singular form of crisis only. One common trait of crisis situations is shortage of time and information which places high demands on managers and decision-makers. Contemporary opinions about the solution of crisis situation...
This paper focuses on the essentiality of incorporating ethics as a course in engineering education. It claims that an amalgamation of ethical awareness and engineering skills can enable the future engineers to strengthen the relation between technology and society.
In classic economics, when borrowing an amount of money that causes a debt to the issuer, it is not usual to have interest which can become larger than the principal. In the context of technical debt however, accumulated debt in the form of interest can in some cases quickly sum up to an amount that at some point, becomes larger than the effort required to repay the initial amount of technical debt...
A generalization of the Zadeh's fuzzy sets and Atanassov's intuitionistic fuzzy sets is the "Picture fuzzy set". This concept is effective in approaching problems relating to the information aggregation processes in decision making problems, for examples voting, financial forecasting, estimating risks in business, etc. This promotes vigorously the construction of the picturefuzzytheory:picturefuzzyoperatorsonpicturefuzzysets,...
Data mining provides educational institutions the capability to explore, visualize and analyze large amounts of data in order to reveal valuable patterns in students' learning behaviors without having to resort to traditional survey methods (Hung & Crooks, 2009; Abdous & He, 2011). Turning raw data into useful information and knowledge also enables educational institutions to improve teaching...
This paper proposes a contribution for the optimal expansion planning concerning the three main conflicting goals: sustainability, economy and supply risks. The proposed approach aims to build an intelligent function that acts like a “bridge” between technicians and society, translating technical issues into relationships between desired targets in a transparent, straightforward platform. The results...
Based on the analysis of methods of formation of portfolio investments in article is proposed a method for effective selection criteria for evaluating investment projects in the power industry which is based on the analysis of methods of formation the portfolio investments. Selection of projects in the portfolio is advantageously carried out on the basis of the combined modeling techniques DEMATEL...
Research shows that people consistently reach more efficient solutions than those predicted by standard economic models, which assume people are selfish. Artificial intelligence, in turn, seeks to create machines that can achieve these levels of efficiency in human-machine interaction. However, as reinforced in this paper, people's decisions are systematically less efficient — i.e., less fair and...
The problem of development of system for monitoring renewable energy sources (RES) in the Republic of Kazakhstan is discussed. New information and communication technologies (ICT) become the technological basis for large scale monitoring. Wireless sensor networks, inter-machine communication system (Machine-to-Machine — M2M), broadband networks based on new communication protocols, machine learning...
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