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1 – 10 of over 14000This paper examines the relationship between marketing automation emergence and the marketers' use of heuristics in their decision-making processes. Heuristics play a role for the…
Abstract
Purpose
This paper examines the relationship between marketing automation emergence and the marketers' use of heuristics in their decision-making processes. Heuristics play a role for the integration of human decision-making models and automation in augmentation processes, particularly in marketing where automation is widespread.
Design/methodology/approach
This study analyzes qualitative data about the impact of marketing automation on the scope of heuristics in decision-making models, and it is based on evidence collected from interviews with twenty-two experienced marketers.
Findings
Marketers make extensive use of heuristics to manage their tasks. While the adoption of new automatic marketing tools modify the task environment and field of use of traditional decision-making models, the adoption of heuristics rules with a different scope is essential to defining inputs, interpreting/evaluating outputs and control the marketing automation system.
Originality/value
The paper makes a contribution to research on the relationship between marketing automation and decision-making models. In particular, it proposes the results of in-depth interviews with senior decision makers to assess the impact of marketing automation on the scope of heuristics as decision-making models adopted by marketers.
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This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these…
Abstract
Purpose
This survey explores the application of real options theory to the field of health economics. The integration of options theory offers a valuable framework to address these challenges, providing insights into healthcare investments, policy analysis and patient care pathways.
Design/methodology/approach
This research employs the real options theory, a financial concept, to delve into health economics challenges. Through a systematic approach, three distinct models rooted in this theory are crafted and analyzed. Firstly, the study examines the value of investing in emerging health technology, factoring in future advantages, associated costs and unpredictability. The second model is patient-centric, evaluating the choice between immediate treatment switch and waiting for more clarity, while also weighing the associated risks. Lastly, the research assesses pandemic-related government policies, emphasizing the importance of delaying decisions in the face of uncertainties, thereby promoting data-driven policymaking.
Findings
Three different real options models are presented in this study to illustrate their applicability and value in aiding decision-makers. (1) The first evaluates investments in new technology, analyzing future benefits, discount rates and benefit volatility to determine investment value. (2) In the second model, a patient has the option of switching treatments now or waiting for more information before optimally switching treatments. However, waiting has its risks, such as disease progression. By modeling the potential benefits and risks of both options, and factoring in the time value, this model aids doctors and patients in making informed decisions based on a quantified assessment of potential outcomes. (3) The third model concerns pandemic policy: governments can end or prolong lockdowns. While awaiting more data on the virus might lead to economic and societal strain, the model emphasizes the economic value of deferring decisions under uncertainty.
Practical implications
This research provides a quantified perspective on various decisions in healthcare, from investments in new technology to treatment choices for patients to government decisions regarding pandemics. By applying real options theory, stakeholders can make more evidence-driven decisions.
Social implications
Decisions about patient care pathways and pandemic policies have direct societal implications. For instance, choices regarding the prolongation or ending of lockdowns can lead to economic and societal strain.
Originality/value
The originality of this study lies in its application of real options theory, a concept from finance, to the realm of health economics, offering novel insights and analytical tools for decision-makers in the healthcare sector.
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Na Zhang, Haiyan Wang and Zaiwu Gong
Grey target decision-making serves as a pivotal analytical tool for addressing dynamic multi-attribute group decision-making amidst uncertain information. However, the setting of…
Abstract
Purpose
Grey target decision-making serves as a pivotal analytical tool for addressing dynamic multi-attribute group decision-making amidst uncertain information. However, the setting of bull's eye is frequently subjective, and each stage is considered independent of the others. Interference effects between each stage can easily influence one another. To address these challenges effectively, this paper employs quantum probability theory to construct quantum-like Bayesian networks, addressing interference effects in dynamic multi-attribute group decision-making.
Design/methodology/approach
Firstly, the bull's eye matrix of the scheme stage is derived based on the principle of group negotiation and maximum satisfaction deviation. Secondly, a nonlinear programming model for stage weight is constructed by using an improved Orness measure constraint to determine the stage weight. Finally, the quantum-like Bayesian network is constructed to explore the interference effect between stages. In this process, the decision of each stage is regarded as a wave function which occurs synchronously, with mutual interference impacting the aggregate result. Finally, the effectiveness and rationality of the model are verified through a public health emergency.
Findings
The research shows that there are interference effects between each stage. Both the dynamic grey target group decision model and the dynamic multi-attribute group decision model based on quantum-like Bayesian network proposed in this paper are scientific and effective. They enhance the flexibility and stability of actual decision-making and provide significant practical value.
Originality/value
To address issues like stage interference effects, subjective bull's eye settings and the absence of participative behavior in decision-making groups, this paper develops a grey target decision model grounded in group negotiation and maximum satisfaction deviation. Furthermore, by integrating the quantum-like Bayesian network model, this paper offers a novel perspective for addressing information fusion and subjective cognitive biases during decision-making.
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Rajat Kumar Behera, Pradip Kumar Bala, Prabin Kumar Panigrahi and Shilpee A. Dasgupta
Despite technological advancements to enhance patient health, the risks of not discovering the correct interactions and trends in digital health are high. Hence, a careful policy…
Abstract
Purpose
Despite technological advancements to enhance patient health, the risks of not discovering the correct interactions and trends in digital health are high. Hence, a careful policy is required for health coverage tailored to needs and capacity. Therefore, this study aims to explore the adoption of a cognitive computing decision support system (CCDSS) in the assessment of health-care policymaking and validates it by extending the unified theory of acceptance and use of technology model.
Design/methodology/approach
A survey was conducted to collect data from different stakeholders, referred to as the 4Ps, namely, patients, providers, payors and policymakers. Structural equation modelling and one-way ANOVA were used to analyse the data.
Findings
The result reveals that the behavioural insight of policymakers towards the assessment of health-care policymaking is based on automatic and reflective systems. Investments in CCDSS for policymaking assessment have the potential to produce rational outcomes. CCDSS, built with quality procedures, can validate whether breastfeeding-supporting policies are mother-friendly.
Research limitations/implications
Health-care policies are used by lawmakers to safeguard and improve public health, but it has always been a challenge. With the adoption of CCDSS, the overall goal of health-care policymaking can achieve better quality standards and improve the design of policymaking.
Originality/value
This study drew attention to how CCDSS as a technology enabler can drive health-care policymaking assessment for each stage and how the technology enabler can help the 4Ps of health-care gain insight into the benefits and potential value of CCDSS by demonstrating the breastfeeding supporting policy.
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Jing Cao, Xuanhua Xu and Bin Pan
Various decision opinions comprise the foundation of emergency decision-making. However, decision-makers have difficulty establishing trust relationships within a short time…
Abstract
Purpose
Various decision opinions comprise the foundation of emergency decision-making. However, decision-makers have difficulty establishing trust relationships within a short time because of decision-making groups being temporary. The paper aims to develop an ambiguity-incorporated opinion formation model that considers ambiguous opinions on relevant risks from a psychological perspective during the consensus reaching process.
Design/methodology/approach
Addressing the problem of forming a consensus decision-making opinion in an ambiguous environment and relevant risk opinions, different social network structures were first proposed. Subsequently, psychological factors affecting the decision-makers' perception of ambiguous opinions and tolerance for ambiguity under the multi-risk factors were considered. Accordingly, an ambiguity-incorporated opinion formation model was proposed by considering the ambiguity and relevant opinions on multi-risk factors.
Findings
A comparison between the ambiguity-incorporated opinion formation model and the F–J model illustrates the superiority of the proposed model. By applying the two types of network structures in the simulation process, the results indicate that the convergence of opinions will be affected by different decision-making network structures.
Originality/value
The research provides a novel opinion formation model incorporating psychological factors and relevant opinions in the emergency decision-making process and provides decision support for practitioners to quantify the influence of ambiguous opinions. The research allows the practitioners to be aware of the influence of different social network structures on opinion formation and avoid inaccurate opinion formation due to unreasonable grouping in emergency decision-making.
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Jianchang Fan, Zhun Li, Fei Ye, Yuhui Li and Nana Wan
This study aims to focus on the optimal green R&D of a capital-constrained supply chain under different channel power structures as well as the impact of capital constraint…
Abstract
Purpose
This study aims to focus on the optimal green R&D of a capital-constrained supply chain under different channel power structures as well as the impact of capital constraint, financing cost, channel power structure and cost-reducing efficiency on green R&D and supply chain profitability.
Design/methodology/approach
A two-echelon supply chain is considered. The upstream firm engages in green R&D but has capital constraints that can be overcome by external financing. Green R&D is beneficial to reduce production costs and increase consumer demand. Based on whether or not the upstream firm is capital constrained and dominates the supply chain, four models are developed.
Findings
Capital constraints significantly lower green R&D and supply chain profitability. Transferring leadership from the upstream to the downstream firms leads to higher green R&D levels and downstream firm profitability, whereas the upstream firm's profitability is increased (decreased) if green R&D investment efficiency is high (low) enough. Greater financing costs reduce green R&D and downstream firm profitability; however, the upstream firm's profitability under the model in which it functions as the follower increases if the initial capital is sufficient. More importantly, empirical analysis based on practice data is used to verify the theoretical results reported above.
Practical implications
This study reveals how upstream firms in supply chains decide green R&D decisions in situations with capital constraints, providing managers and governments with an understanding of the impact of capital constraint, channel power structure, financing cost and cost-reducing efficiency on supply chain green R&D and profitability.
Originality/value
The major contributions are the exploration of supply chain green R&D by taking into consideration channel power structures and cost-reducing efficiency and the validation of theoretical results using practice data.
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Mohsen Anvari, Alireza Anvari and Omid Boyer
This paper aims to examine the integration of lateral transshipment and road vulnerability into the humanitarian relief chain in light of affected area priority to address…
Abstract
Purpose
This paper aims to examine the integration of lateral transshipment and road vulnerability into the humanitarian relief chain in light of affected area priority to address equitable distribution and assess the impact of various parameters on the total average inflated distance traveled per relief item.
Design/methodology/approach
After identifying comprehensive critical criteria and subcriteria, a hybrid multi-criteria decision-making framework was applied to obtain the demand points’ weight and ranking in a real-life earthquake scenario. Direct shipment and lateral transshipment models were then presented and compared. The developed mathematical models are formulated as mixed-integer programming models, considering facility location, inventory prepositioning, road vulnerability and quantity of lateral transshipment.
Findings
The study found that the use of prioritization criteria and subcriteria, in conjunction with lateral transshipment and road vulnerability, resulted in a more equitable distribution of relief items by reducing the total average inflated distance traveled per relief item.
Research limitations/implications
To the best of the authors’ knowledge, this study is one of the first research on equity in humanitarian response through prioritization of demand points. It also bridges the gap between two areas that are typically treated separately: multi-criteria decision-making and humanitarian logistics.
Practical implications
This is the first scholarly work in Shiraz focused on the equitable distribution system by prioritization of demand points and assigning relief items to them after the occurrence of a medium-scale earthquake scenario considering lateral transshipment in the upper echelon.
Originality/value
The paper clarifies how to prioritize demand points to promote equity in humanitarian logistics when the authors have faced multiple factors (i.e. location of relief distribution centers, inventory level, distance, lateral transshipment and road vulnerability) simultaneously.
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Wilson Wai Kwan Yeh, Gang Hao and Muammer Ozer
Although real estate investment decisions are among the most important managerial decisions, such decisions are usually made in an ad hoc fashion in Southeast Asia. The purpose of…
Abstract
Purpose
Although real estate investment decisions are among the most important managerial decisions, such decisions are usually made in an ad hoc fashion in Southeast Asia. The purpose of this study is to present a two-tier multi-criteria decision-making model for real estate investment decisions across three rapidly growing but significantly understudied Southeast Asian countries: Cambodia, Myanmar and Vietnam.
Design/methodology/approach
Using three data sources (secondary data, two surveys and nearly 100 experts and senior executives), the authors applied a combination of the Analytic Hierarchy Process and the Simple Additive Weighting (or weighted sum) methods as two special cases of multi-criteria decision-making to assess nine real estate investment projects across Cambodia, Myanmar and Vietnam.
Findings
The results of this study indicated that Vietnam, Cambodia and Myanmar were the first, second and third most preferred countries for real estate investments, respectively. Moreover, the results clearly show a trade-off between perceived country risk and financial returns, indicating that a higher perceived country risk can be compensated for with higher financial returns.
Originality/value
Real estate investment decisions are usually made in an ad hoc manner in Southeast Asia. This study helps investors make more informed decisions when investing in real estate projects across three rapidly growing but significantly understudied Southeast Asian countries: Cambodia, Myanmar and Vietnam.
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This paper aims to deal with a real-life strategic conflict in joint operations (JOs) for facility location decision and planning in an oil and gas field that stretches over two…
Abstract
Purpose
This paper aims to deal with a real-life strategic conflict in joint operations (JOs) for facility location decision and planning in an oil and gas field that stretches over two countries and tries to develop a basis for mitigating such conflict.
Design/methodology/approach
This paper develops a novel approach using integer linear programming (ILP) to determine optimal facility location considering technical, economic and environmental factors. Strategic decision-making in JOs is also influenced by business priorities of individual partner, sociopolitical issues and other covert factors. The cost-related quantitative factors are normalized using inverse normalization function as these are to be minimized, and qualitative factors that are multi-decision-making criteria are maximized, thus transforming both qualitative and quantitative factors as a single objective of maximization in ILP model.
Findings
The model identifies the most suitable facility location based on a wide range of factors that would provide maximum benefit in the long term, which will help decision-makers and managers.
Research limitations/implications
The model can be expanded incorporating other quantitative and qualitative factors such as tax incentives by the government, local bodies and government regulations.
Practical implications
The applicability of the model is not limited to JOs or oil/gas field, but is applicable to a wide range of sectors.
Originality/value
The model is transparent and based on rational and scientific basis, which would help in building consensus among the dissenting parties and aid in mitigating strategic conflict. Such type of model for mitigating strategic conflict has not been reported/used before.
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Abhishek Sharma, Chandana Hewege and Chamila Perera
This study explores the decision-making powers of Australian female consumers in the financial product market. More precisely, it examines how the integrative effects of…
Abstract
Purpose
This study explores the decision-making powers of Australian female consumers in the financial product market. More precisely, it examines how the integrative effects of rationality, emotions and personality traits influence the decision-making powers of Australian female consumers when making financial product purchase decisions.
Design/methodology/approach
The study employs a quantitative research approach, utilising a survey strategy. The proposed conceptual model was tested using structural equation modelling (AMOS) on a valid 357 responses from Australian female consumers.
Findings
The findings revealed that rationality, self-efficacy and impulsivity have a positive impact on the decision-making powers of Australian female consumers. Besides this, self-efficacy and anxiety had significant moderating effects on the decision-making power of Australian female consumers when buying financial products, whereas anger and impulsivity were found to have no moderating effects.
Research limitations/implications
The study offers understanding on the role of emotions and personality traits in financial decision-making, which can help financial institutions design sound products and services that can also ensure consumers' overall well-being.
Originality/value
Informed by the theoretical notions of the appraisal-tendency framework (ATF) and emotion-imbued choice model (EIC), the study makes a unique contribution by investigating the impact of rationality, emotions and personality traits on the decision-making powers of female consumers in the Australian financial product market.
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