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The paper aims to present an approach to cost-benefit analysis with stochastic data. Determining the type and the values of alternative’s factors are probably the most…
The paper aims to present an approach to cost-benefit analysis with stochastic data. Determining the type and the values of alternative’s factors are probably the most important issue in this approach. Therefore, in the proposed approach, a competitive advantage model was built to measure the values of alternative’s factors. Then, a satisfactory cost-benefit analysis model with random data was proposed to evaluate the alternatives. The cost-benefit analysis of each alternative was carried out to obtain the real and satisfactory cost-benefit of the decision-maker.
This paper is orientationally expressed as a mathematical problem in which the optimization problem needs to analyze the approach. This paper is written based on uncertainty linear optimization. Optimization under uncertainty refers to this branch of optimization where there are uncertainties involved in the data or the model and is popularly known as stochastic optimization problems.
As was seen in the purpose part, in this paper, an approach is presented to cost-benefit analysis by the use of competitive advantage with stochastic data. In this regards, a stochastic optimization problem to assess competitive advantage is proposed. This optimization problem recognizes the values of alternative’s factors which is the most important step in cost-benefit analysis. An optimization problem is proposed to cost benefit analysis, as well.
To investigate different aspects of the proposed approach, a case study with random data of 21 economic projects was considered.
Cost–benefit analysis is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options which provide the best approach to achieving benefits while preserving savings. Cost–benefit analysis is related to cost-effectiveness analysis. Benefits and costs are expressed in monetary terms and are adjusted for the time value of money; all flows of benefits and costs over time are expressed on a common basis in terms of their net present value, regardless of whether they are incurred at different times. As seen the paper using competitive advantage tries to determine the values of alternative’s factor. As competitive advantage model analyze the advantages and disadvantages of alternatives, this paper by the use of this idea tries to determine the costs and benefits. Two stochastic optimization problems in the middle of this approach are proposed, which assess competitive advantage and cost–benefit analysis, respectively.
RECENT YEARS have witnessed the proliferation of applications of cost‐benefit analysis to public sector expenditure. Cost‐benefit analysis is a method of decision‐making which seeks to quantify the benefits that are obtainable from a given course of action, to express them in financial terms (or in terms of financial equivalents) and then to deduct the estimated social and financial costs so that the results of the course of action may be assessed, valued and expressed in monetary terms. Quantification of actual financial costs and benefits poses no difficulties, but it has been shown elsewhere that the quantification of social costs and benefits often poses considerable problems. Some social benefits, such as the value of time‐saving, can be quantified reasonably successfully (using, for example, financial equivalents of time saved in terms of average wages or average salaries of the individuals concerned), but others, such as the measurement of alleviation of suffering or the assessment of degrees of incapability in nursing care, have no adequate financial equivalents.
Two studies in the context of English‐French relations in Québec suggest that individuals who strongly identify with a group derive the individual‐level costs and benefits…
Two studies in the context of English‐French relations in Québec suggest that individuals who strongly identify with a group derive the individual‐level costs and benefits that drive expectancy‐value processes (rational decision‐making) from group‐level costs and benefits. In Study 1, high identifiers linked group‐ and individual‐level outcomes of conflict choices whereas low identifiers did not. Group‐level expectancy‐value processes, in Study 2, mediated the relationship between social identity and perceptions that collective action benefits the individual actor and between social identity and intentions to act. These findings suggest the rational underpinnings of identity‐driven political behavior, a relationship sometimes obscured in intergroup theory that focuses on cognitive processes of self‐stereotyping. But the results also challenge the view that individuals' cost‐benefit analyses are independent of identity processes. The findings suggest the importance of modeling the relationship of group and individual levels of expectancy‐value processes as both hierarchical and contingent on social identity processes.
This paper aims to explore effective supply chain principles, through the theory of transaction cost economics, as measures to improve current contingency pharmaceutical…
This paper aims to explore effective supply chain principles, through the theory of transaction cost economics, as measures to improve current contingency pharmaceutical item shortfalls in the Air Force Medical Service (AFMS) Contingency Pharmaceutical Programme.
In this research, AFMS contingency pharmaceutical data was collected from various databases, including the Joint Medical Asset Repository, Medical Contingency Requirements Workflow and the Medical Requirements List. Through the methodology of cost-benefit analysis, alternative sourcing and fulfilment practices are evaluated.
The findings of this research indicate that the application of centralized purchasing principles, in an effort to leverage prime vendor contract fill rates for shortage items, can lead to 12%–17% increases in pharmaceutical material availability across the programme.
This research clearly shows that consolidating demand for shortage items across Active Duty War Reserve Material assemblages, though applications of centralized purchasing principles that leverage prime vendor contract fill rates, can lead to substantial increases in material availability at costs that justify the calculated benefits.