When evaluating of the senior manager’s performance is based on the achieving to budget and they have responsibility to report the capacity of resources which are in their part too; it is possible to create budget slack and effect on their performance evaluation by providing pessimistic and conservatively estimates or manipulated information of income and expenses. So, Senior Manager and Budget...

We present an algorithmic framework that improves over several known results for a family of optimization problems on flexible manufacturing systems that involve multiple objectives and that have received considerable attention in the literature. We demonstrate the usefulness of our algorithm by theoretical analysis and by experiments with large real-world and random instances.

Mathematical modelling can help to explain the nature and dynamics of infection transmissions, as well as support a policy for implementing those strategies that are most likely to bring public health and economic benefits. The paper addresses the application of optimal control strategies in a tuberculosis model. The model consists of a system of ordinary differential equations, which considers...

Behavioral economics confronts a problem when it argues for its scientific relevance based on claims of superior empirical realism while defending models that are almost surely wrong as descriptions of true psychological processes (e.g., prospect theory, hyperbolic discounting, and social preference utility functions). Behavioral economists frequently observe that constrained optimization of ne...

This article introduces a bivariate shape-preserving interpolation algorithm to approximate the value function of a dynamic program. First, we present a savings allocation problem between a pension account and another non-pension one. With the objective of maximizing the present value of utility over a life cycle, the investor can distribute his or her savings, in each account, between stocks a...

Specifying utility functions is a key step towards applying the discrete choice framework for understanding behaviour processes that govern user choices. However, identifying function specifications best model and explain observed choices can be very challenging time-consuming task. This paper seeks to help modellers by leveraging Bayesian concept of automatic relevance determination (ARD), in ...

In this article, we consider the problem of designing an expected-revenue-maximizing mechanism for allocating multiple nonperishable goods $k$ varieties to flexible consumers over notation="LaTeX">$T$ time st...

Savage denied that Bayesian decision theory applies in large worlds. This paper proposes a minimal extension of Bayesian decision theory to a large-world context that evaluates an event E by assigning it a number π(E) that reduces to an orthodox probability for a class of measurable events. The Hurwicz criterion evaluates π(E) as a weighted arithmetic mean of its upper and lower probabilities, ...