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Book part
Publication date: 5 October 2018

Nima Gerami Seresht, Rodolfo Lourenzutti, Ahmad Salah and Aminah Robinson Fayek

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and…

Abstract

Due to the increasing size and complexity of construction projects, construction engineering and management involves the coordination of many complex and dynamic processes and relies on the analysis of uncertain, imprecise and incomplete information, including subjective and linguistically expressed information. Various modelling and computing techniques have been used by construction researchers and applied to practical construction problems in order to overcome these challenges, including fuzzy hybrid techniques. Fuzzy hybrid techniques combine the human-like reasoning capabilities of fuzzy logic with the capabilities of other techniques, such as optimization, machine learning, multi-criteria decision-making (MCDM) and simulation, to capitalise on their strengths and overcome their limitations. Based on a review of construction literature, this chapter identifies the most common types of fuzzy hybrid techniques applied to construction problems and reviews selected papers in each category of fuzzy hybrid technique to illustrate their capabilities for addressing construction challenges. Finally, this chapter discusses areas for future development of fuzzy hybrid techniques that will increase their capabilities for solving construction-related problems. The contributions of this chapter are threefold: (1) the limitations of some standard techniques for solving construction problems are discussed, as are the ways that fuzzy methods have been hybridized with these techniques in order to address their limitations; (2) a review of existing applications of fuzzy hybrid techniques in construction is provided in order to illustrate the capabilities of these techniques for solving a variety of construction problems and (3) potential improvements in each category of fuzzy hybrid technique in construction are provided, as areas for future research.

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

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Self-Learning and Adaptive Algorithms for Business Applications
Type: Book
ISBN: 978-1-83867-174-7

Abstract

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Self-Learning and Adaptive Algorithms for Business Applications
Type: Book
ISBN: 978-1-83867-174-7

Content available
Book part
Publication date: 5 June 2023

Abstract

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Pragmatic Engineering and Lifestyle
Type: Book
ISBN: 978-1-80262-997-2

Content available
Book part
Publication date: 5 October 2018

Abstract

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Book part
Publication date: 5 June 2023

Fazıl Gökgöz and Engin Yalçın

Waste management is one of the vital objectives for the EU since it has a substantial effect on the environment. European Commission expects annual waste creation on Earth to…

Abstract

Waste management is one of the vital objectives for the EU since it has a substantial effect on the environment. European Commission expects annual waste creation on Earth to increase by 70% by 2050. European Commission also estimates that efficient waste management might boost the EU economy's gross domestic product (GDP) by 0.5% by 2030. Hence, it is essential to conduct research including both efficiency and influencing factors analysis for effective waste management. First, we employ both slack-based measure (SBM) and super-SBM data envelopment analysis approaches to investigate the waste management efficiency of the EU region and distinguish between efficient countries. The countries with small areas such as Luxembourg and Ireland have demonstrated super efficiency. Second, we maintain our empirical research with ordinary least square analysis to explore the determinants of waste management. We also conclude that population density, GDP per capita, and tourism rise the amount of waste generated in the EU region.

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Pragmatic Engineering and Lifestyle
Type: Book
ISBN: 978-1-80262-997-2

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Book part
Publication date: 25 May 2021

Reyhan Can and H. Isın Dizdarlar

Introduction: According to the effective market hypothesis, investors act rationally when making an investment decision. The hypothesis assumes that investors invest in a way that…

Abstract

Introduction: According to the effective market hypothesis, investors act rationally when making an investment decision. The hypothesis assumes that investors invest in a way that maximizes their returns, taking into account the new information received. If the information released on the market is interpreted in the same way by all investors, no investor would be able to earn above the market. This hypothesis is valid in case of efficient markets. In the event that investors show irrational behavior to the information released on the market, the markets move away from efficiency. Overreaction behavior is one of the non-rational behaviors of investors. Overreaction behavior involves investors overreacting by misinterpreting the new information released to the market. According to De Bondt and Thaler’s (1985), overreaction hypothesis in the event that investors overreact to the news coming to the market, after a period the false evaluation, the price of the security is corrected with the reversal movement, without the need of any positive or negative information. Aim: The purpose of this study is to examine investors’ overreaction behavior in mergers and acquisitions. For this purpose, overreaction behavior was analyzed for companies whose stocks are traded on the Borsa Istanbul, which were involved in mergers or acquisitions. Method: In the study, companies that made mergers and acquisitions for the period 2007–2017 were determined, and abnormal returns and cumulative abnormal returns were calculated by using monthly closing price data of these companies. Moreover, whether investors overreact to the merger and acquisition decision is examined separately for one-, three- and five-year periods. Findings: As a result of the research, it has been observed that there is a reverse return for one-, three-, and five-year periods. However, it has been determined that the overreaction hypothesis is valid for only one year.

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Contemporary Issues in Social Science
Type: Book
ISBN: 978-1-80043-931-3

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Book part
Publication date: 23 April 2024

Emerson Norabuena-Figueroa, Roger Rurush-Asencio, K. P. Jaheer Mukthar, Jose Sifuentes-Stratti and Elia Ramírez-Asís

The development of information technologies has led to a considerable transformation in human resource management from conventional or commonly known as personnel management to…

Abstract

The development of information technologies has led to a considerable transformation in human resource management from conventional or commonly known as personnel management to modern one. Data mining technology, which has been widely used in several applications, including those that function on the web, includes clustering algorithms as a key component. Web intelligence is a recent academic field that calls for sophisticated analytics and machine learning techniques to facilitate information discovery, particularly on the web. Human resource data gathered from the web are typically enormous, highly complex, dynamic, and unstructured. Traditional clustering methods need to be upgraded because they are ineffective. Standard clustering algorithms are enhanced and expanded with optimization capabilities to address this difficulty by swarm intelligence, a subset of nature-inspired computing. We collect the initial raw human resource data and preprocess the data wherein data cleaning, data normalization, and data integration takes place. The proposed K-C-means-data driven cuckoo bat optimization algorithm (KCM-DCBOA) is used for clustering of the human resource data. The feature extraction is done using principal component analysis (PCA) and the classification of human resource data is done using support vector machine (SVM). Other approaches from the literature were contrasted with the suggested approach. According to the experimental findings, the suggested technique has extremely promising features in terms of the quality of clustering and execution time.

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Technological Innovations for Business, Education and Sustainability
Type: Book
ISBN: 978-1-83753-106-6

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Book part
Publication date: 5 October 2018

Aminah Robinson Fayek and Rodolfo Lourenzutti

Construction is a highly dynamic environment with numerous interacting factors that affect construction processes and decisions. Uncertainty is inherent in most aspects of…

Abstract

Construction is a highly dynamic environment with numerous interacting factors that affect construction processes and decisions. Uncertainty is inherent in most aspects of construction engineering and management, and traditionally, it has been treated as a random phenomenon. However, there are many types of uncertainty that are not naturally modelled by probability theory, such as subjectivity, ambiguity and vagueness. Fuzzy logic provides an approach for handling such uncertainties. However, fuzzy logic alone has some limitations, including its inability to learn from data and its extensive reliance on expert knowledge. To address these limitations, fuzzy logic has been combined with other techniques to create fuzzy hybrid techniques, which have helped solve complex problems in construction. In this chapter, a background on fuzzy logic in the context of construction engineering and management applications is presented. The chapter provides an introduction to uncertainty in construction and illustrates how fuzzy logic can improve construction modelling and decision-making. The role of fuzzy logic in representing uncertainty is contrasted with that of probability theory. Introductory material is presented on key definitions, properties and methods of fuzzy logic, including the definition and representation of fuzzy sets and membership functions, basic operations on fuzzy sets, fuzzy relations and compositions, defuzzification methods, entropy for fuzzy sets, fuzzy numbers, methods for the specification of membership functions and fuzzy rule-based systems. Finally, a discussion on the need for fuzzy hybrid modelling in construction applications is presented, and future research directions are proposed.

Details

Fuzzy Hybrid Computing in Construction Engineering and Management
Type: Book
ISBN: 978-1-78743-868-2

Keywords

Abstract

Details

Self-Learning and Adaptive Algorithms for Business Applications
Type: Book
ISBN: 978-1-83867-174-7

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