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Article
Publication date: 22 March 2024

Sanaz Khalaj Rahimi and Donya Rahmani

The study aims to optimize truck routes by minimizing social and economic costs. It introduces a strategy involving diverse drones and their potential for reusing at DNs based on…

10

Abstract

Purpose

The study aims to optimize truck routes by minimizing social and economic costs. It introduces a strategy involving diverse drones and their potential for reusing at DNs based on flight range. In HTDRP-DC, trucks can select and transport various drones to LDs to reduce deprivation time. This study estimates the nonlinear deprivation cost function using a linear two-piece-wise function, leading to MILP formulations. A heuristic-based Benders Decomposition approach is implemented to address medium and large instances. Valid inequalities and a heuristic method enhance convergence boundaries, ensuring an efficient solution methodology.

Design/methodology/approach

Research has yet to address critical factors in disaster logistics: minimizing the social and economic costs simultaneously and using drones in relief distribution; deprivation as a social cost measures the human suffering from a shortage of relief supplies. The proposed hybrid truck-drone routing problem minimizing deprivation cost (HTDRP-DC) involves distributing relief supplies to dispersed demand nodes with undamaged (LDs) or damaged (DNs) access roads, utilizing multiple trucks and diverse drones. A Benders Decomposition approach is enhanced by accelerating techniques.

Findings

Incorporating deprivation and economic costs results in selecting optimal routes, effectively reducing the time required to assist affected areas. Additionally, employing various drone types and their reuse in damaged nodes reduces deprivation time and associated deprivation costs. The study employs valid inequalities and the heuristic method to solve the master problem, substantially reducing computational time and iterations compared to GAMS and classical Benders Decomposition Algorithm. The proposed heuristic-based Benders Decomposition approach is applied to a disaster in Tehran, demonstrating efficient solutions for the HTDRP-DC regarding computational time and convergence rate.

Originality/value

Current research introduces an HTDRP-DC problem that addresses minimizing deprivation costs considering the vehicle’s arrival time as the deprivation time, offering a unique solution to optimize route selection in relief distribution. Furthermore, integrating heuristic methods and valid inequalities into the Benders Decomposition approach enhances its effectiveness in solving complex routing challenges in disaster scenarios.

Details

Kybernetes, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0368-492X

Keywords

Article
Publication date: 1 June 2023

Maqsood Ahmad and Qiang Wu

This study aims to use a qualitative approach to explore and clarify the mechanism by which heuristic-driven biases influence the decisions and performance of individual investors…

Abstract

Purpose

This study aims to use a qualitative approach to explore and clarify the mechanism by which heuristic-driven biases influence the decisions and performance of individual investors actively trading on the Pakistan Stock Exchange (PSX). It also aims to identify how to overcome the negative effect of heuristic-driven biases, so that finance practitioners can avoid the expensive errors which they cause.

Design/methodology/approach

This study adopts an interpretative approach. Qualitative data was collected in semistructured interviews, in which the target population was asked open-ended questions. The sample consists of five brokers and/or investment strategists/advisors who maintain investors’ accounts or provide investment advice to investors on the PSX, who were selected on a convenient basis. The researchers analyzed the interview data thematically.

Findings

The results confirm that investors often use heuristics, causing several heuristic-driven biases when trading on the stock market, specifically, reliance on recognition-based heuristics, namely, alphabetical ordering of firm names, name memorability and name fluency, as well as cognitive heuristics, such as herding behavior, disposition effect, anchoring and adjustment, repetitiveness, overconfidence and availability biases. These lead investors to make suboptimal decisions relating to their investment management activities. Due to these heuristic-driven biases, investors trade excessively in the stock market, and their investment performance is adversely affected.

Originality/value

This study provides a practical framework to explore and clarify the mechanism by which heuristic-driven biases influence investment management activities. To the best of authors’ knowledge, the current study is the first to focus on links between heuristic-driven biases, investment decisions and performance using a qualitative approach. Furthermore, with the help of a qualitative approach, the investigators also highlight some factors causing an increased use of heuristic variables by investors and discuss practical approaches to overcoming the negative effects of heuristics factors, so that finance practitioners can avoid repeating the expensive errors which they cause, which also differentiates this study from others.

Details

Qualitative Research in Financial Markets, vol. 16 no. 2
Type: Research Article
ISSN: 1755-4179

Keywords

Open Access
Article
Publication date: 21 December 2023

Rafael Pereira Ferreira, Louriel Oliveira Vilarinho and Americo Scotti

This study aims to propose and evaluate the progress in the basic-pixel (a strategy to generate continuous trajectories that fill out the entire surface) algorithm towards…

Abstract

Purpose

This study aims to propose and evaluate the progress in the basic-pixel (a strategy to generate continuous trajectories that fill out the entire surface) algorithm towards performance gain. The objective is also to investigate the operational efficiency and effectiveness of an enhanced version compared with conventional strategies.

Design/methodology/approach

For the first objective, the proposed methodology is to apply the improvements proposed in the basic-pixel strategy, test it on three demonstrative parts and statistically evaluate the performance using the distance trajectory criterion. For the second objective, the enhanced-pixel strategy is compared with conventional strategies in terms of trajectory distance, build time and the number of arcs starts and stops (operational efficiency) and targeting the nominal geometry of a part (operational effectiveness).

Findings

The results showed that the improvements proposed to the basic-pixel strategy could generate continuous trajectories with shorter distances and comparable building times (operational efficiency). Regarding operational effectiveness, the parts built by the enhanced-pixel strategy presented lower dimensional deviation than the other strategies studied. Therefore, the enhanced-pixel strategy appears to be a good candidate for building more complex printable parts and delivering operational efficiency and effectiveness.

Originality/value

This paper presents an evolution of the basic-pixel strategy (a space-filling strategy) with the introduction of new elements in the algorithm and proves the improvement of the strategy’s performance with this. An interesting comparison is also presented in terms of operational efficiency and effectiveness between the enhanced-pixel strategy and conventional strategies.

Details

Rapid Prototyping Journal, vol. 30 no. 11
Type: Research Article
ISSN: 1355-2546

Keywords

Open Access
Article
Publication date: 17 October 2023

Divaries Cosmas Jaravaza, Joshua Risiro, Paul Mukucha and Nomuhle Jaravaza

The main purpose of the study was to synthesise the role of COVID-19 social media messages and indigenous religious beliefs on public health promotion initiatives among rural…

Abstract

Purpose

The main purpose of the study was to synthesise the role of COVID-19 social media messages and indigenous religious beliefs on public health promotion initiatives among rural consumers in Zimbabwe.

Design/methodology/approach

A qualitative approach was adopted. Population consisting of 15 interviews and six focus groups was purposively sampled from Manicaland, Mashonaland Central and Masvingo provinces in Zimbabwe. A thematic approach was used to present and analyse the data.

Findings

Rural consumers believed WhatsApp messages posted by people whom they know or influential personnel like health workers. Credibility of WhatsApp messages was enhanced through its ability to send videos and audios. Teachings and indoctrination by indigenous churches and misinformation were found to be an impediment in believing COVID-19 WhatsApp messages and vaccination by rural consumers. Faith healers in indigenous churches used various practices and artefacts like holy water, stone pebbles, clay pots, flags and wooden rods to pray and treat patients suffering from COVID-19 and other ailments.

Practical implications

Social media messages, religious teachings and indoctrination may be a hindrance to rural consumers in adopting government public health promotion initiatives; hence, public health professionals need prior emic understanding and co-option of local leadership in vaccination campaigns.

Originality/value

This study outstretches the theoretical landscape in consumer behaviour and also practical contribution to health practitioners and marketers on breaking indigenous religious barriers and social media misconceptions on vaccination uptake through promotional strategies earmarked for rural consumers.

Details

International Journal of Pharmaceutical and Healthcare Marketing, vol. 18 no. 1
Type: Research Article
ISSN: 1750-6123

Keywords

Open Access
Article
Publication date: 14 November 2023

Hajer Chenini and Anis Jarboui

A separate study of the different behavioral biases does not allow for a full understanding of the complexity and stability of the heterogeneity of beliefs. Therefore, through a…

Abstract

Purpose

A separate study of the different behavioral biases does not allow for a full understanding of the complexity and stability of the heterogeneity of beliefs. Therefore, through a more global view of these anomalies, the authors wish to show that they can converge on a single concept, which is the heterogeneity of beliefs.

Design/methodology/approach

It is therefore essential to stress that the importance of this study is mainly reflected in the methodological approach used in the construction and analysis of the map and not only in the results achieved. This contribution states that structural analysis, as a means of building the cognitive map, can facilitate the task of investors and other decision-makers, in the identification and analysis of the heterogeneity of beliefs that can therefore guide investors' strategy in decision-making.

Findings

The authors have studied the behavior of the investor and its way of interpreting the information and the authors have emphasized the value of studying the concept of heterogeneity of beliefs in its complexity. So that part of the work seems to be relevant and crucial to filling, if you will, that void. In this sense, the authors have shown that behavioral abnormalities are multidimensional concepts: “self-deception”, “cognitive bias”, “emotional bias” and “social bias”.

Originality/value

In particular, this article will aim to achieve the objective of proposing a model for measuring the heterogeneity of beliefs. Thus, the authors want to show that the heterogeneity of beliefs can be measured directly through the different behavioral anomalies.

Details

Journal of Economics, Finance and Administrative Science, vol. 29 no. 57
Type: Research Article
ISSN: 2077-1886

Keywords

Article
Publication date: 25 March 2024

Zhixue Liao, Xinyu Gou, Qiang Wei and Zhibin Xing

Online reviews serve as valuable sources of information, reflecting tourists’ attentions, preferences and sentiments. However, although the existing research has demonstrated that…

Abstract

Purpose

Online reviews serve as valuable sources of information, reflecting tourists’ attentions, preferences and sentiments. However, although the existing research has demonstrated that incorporating online review data can enhance the performance of tourism demand forecasting models, the reliability of online review data and consumers’ decision-making process have not been given adequate attention. To address the aforementioned problem, the purpose of this study is to forecast tourism demand using online review data derived from the analysis of review helpfulness.

Design/methodology/approach

The authors propose a novel “identification-first, forecasting-second” framework. This framework prioritizes the identification of helpful reviews through a comprehensive analysis of review helpfulness, followed by the integration of helpful online review data into the forecasting system. Using the SARIMAX model with helpful online review data sourced from TripAdvisor, this study forecasts tourist arrivals in Hong Kong during the period from August 2012 to June 2019. The SNAÏVE/SARIMA model was used as the benchmark model. Additionally, artificial intelligence models including long short-term memory, back propagation neural network, extreme learning machine and random forest models were used to assess the robustness of the results.

Findings

The results demonstrate that online review data are subject to noise and bias, which can adversely affect the accuracy of predictions when used directly. However, by identifying helpful online reviews beforehand and incorporating them into the forecasting process, a notable enhancement in predictive performance can be realized.

Originality/value

First, to the best of the authors’ knowledge, this study is one of the first to focus on the data issue of online reviews on tourism arrivals forecasting. Second, this study pioneers the integration of the consumer decision-making process into the domain of tourism demand forecasting, marking one of the earliest endeavors in this area. Third, this study makes a novel attempt to identify helpful online reviews based on reviews helpfulness analysis.

Details

Nankai Business Review International, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2040-8749

Keywords

Article
Publication date: 26 March 2024

Eunsong Yim and Kwangmin Park

This research aims to elucidate why consumers decide to eat meals that seem to be higher in calories and salt, despite their goal being to consume fewer calories and sodium…

Abstract

Purpose

This research aims to elucidate why consumers decide to eat meals that seem to be higher in calories and salt, despite their goal being to consume fewer calories and sodium. Korean participants are to be used for this study. The present research further investigated the impacts of categorization and averaging bias in relation to the health halo phenomenon, specifically focusing on traditional food and textured vegetable protein (soy meat) burgers. Thus, the present research investigated how consumers' intentions contrasted with their consumption goals in food choice circumstances.

Design/methodology/approach

We partitioned the survey due to the COVID-19 epidemic. A single, well trained surveyor first surveyed customers at cafés in Seoul and six other Korean cities. We received 102 in-person survey replies. A total of 254 advanced degree or undergraduate students from two universities completed an online questionnaire. There are 356 responses. Two studies were conducted where participants were instructed to evaluate the perceived healthiness, calorie content, and sodium level of different food items. The specifics of each study are elucidated in the main body of the paper.

Findings

This study shows that Koreans categorize meals as virtue or vice depending on their perceived healthiness, validating the categorization effect. Furthermore, this research demonstrated that consumers' perceptions of the health benefits of traditional meals and soy meat burgers impact their categorization. Koreans also assessed the average of the vice and virtue and found vice-virtue combination meals healthier than the vice alone. This affects how calories and sodium are perceived. This study also shown that high virtue affects averaging bias more than weak virtue in meals with vice and virtue combo.

Originality/value

This study extended food categorization and averaging bias to non-US consumers and confirmed this contradictory meal choice is universal. Health halo also affects food health perception. The results of this study revealed that Koreans consider traditional food healthier than western junk food. Korean customers incorrectly assume soy meat burgers have fewer calories and sodium than regular burgers. Thus, this study explains Korean consumers' food health misconceptions related to paradoxical consumption.

Details

Asia Pacific Journal of Marketing and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1355-5855

Keywords

Article
Publication date: 2 January 2024

Wenlong Cheng and Wenjun Meng

This study aims to solve the problem of job scheduling and multi automated guided vehicle (AGV) cooperation in intelligent manufacturing workshops.

Abstract

Purpose

This study aims to solve the problem of job scheduling and multi automated guided vehicle (AGV) cooperation in intelligent manufacturing workshops.

Design/methodology/approach

In this study, an algorithm for job scheduling and cooperative work of multiple AGVs is designed. In the first part, with the goal of minimizing the total processing time and the total power consumption, the niche multi-objective evolutionary algorithm is used to determine the processing task arrangement on different machines. In the second part, AGV is called to transport workpieces, and an improved ant colony algorithm is used to generate the initial path of AGV. In the third part, to avoid path conflicts between running AGVs, the authors propose a simple priority-based waiting strategy to avoid collisions.

Findings

The experiment shows that the solution can effectively deal with job scheduling and multiple AGV operation problems in the workshop.

Originality/value

In this paper, a collaborative work algorithm is proposed, which combines the job scheduling and AGV running problem to make the research results adapt to the real job environment in the workshop.

Details

Robotic Intelligence and Automation, vol. 44 no. 1
Type: Research Article
ISSN: 2754-6969

Keywords

Open Access
Article
Publication date: 21 December 2023

Ingo Pies and Vladislav Valentinov

Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case…

Abstract

Purpose

Stakeholder theory understands business in terms of relationships among stakeholders whose interests are mainly joint but may be occasionally conflicting. In the latter case, managers may need to make trade-offs between these interests. The purpose of this paper is to explore the nature of managerial decision-making about these trade-offs.

Design/methodology/approach

This paper draws on the ordonomic approach which sees business life to be rife with social dilemmas and locates the role of stakeholders in harnessing or resolving these dilemmas through engagement in rule-finding and rule-setting processes.

Findings

The ordonomic approach suggests that stakeholder interests trade-offs ought to be neither ignored nor avoided, but rather embraced and welcomed as an opportunity for bringing to fruition the joint interest of stakeholders in playing a better game of business. Stakeholders are shown to bear responsibility for overcoming the perceived trade-offs through the institutional management of social dilemmas.

Originality/value

For many stakeholder theorists, the nature of managerial decision-making about trade-offs between conflicting stakeholder interests and the nature of trade-offs themselves have been a long-standing point of contention. The paper shows that trade-offs may be useful for the value creation process and explicitly discusses managerial strategies for dealing with them.

Details

Social Responsibility Journal, vol. 20 no. 5
Type: Research Article
ISSN: 1747-1117

Keywords

Open Access
Article
Publication date: 26 March 2024

Manuel Rossetti, Juliana Bright, Andrew Freeman, Anna Lee and Anthony Parrish

This paper is motivated by the need to assess the risk profiles associated with the substantial number of items within military supply chains. The scale of supply chain management…

Abstract

Purpose

This paper is motivated by the need to assess the risk profiles associated with the substantial number of items within military supply chains. The scale of supply chain management processes creates difficulties in both the complexity of the analysis and in performing risk assessments that are based on the manual (human analyst) assessment methods. Thus, analysts require methods that can be automated and that can incorporate on-going operational data on a regular basis.

Design/methodology/approach

The approach taken to address the identification of supply chain risk within an operational setting is based on aspects of multiobjective decision analysis (MODA). The approach constructs a risk and importance index for supply chain elements based on operational data. These indices are commensurate in value, leading to interpretable measures for decision-making.

Findings

Risk and importance indices were developed for the analysis of items within an example supply chain. Using the data on items, individual MODA models were formed and demonstrated using a prototype tool.

Originality/value

To better prepare risk mitigation strategies, analysts require the ability to identify potential sources of risk, especially in times of disruption such as natural disasters.

Details

Journal of Defense Analytics and Logistics, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 2399-6439

Keywords

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