the conventional theory of adverse selection is not supported by most of the empirical works. these studies conclude that low-risk individuals demand more insurance services than high-risks. they refer to this situation as advantageous selection theory. this theory states that loss ratio of insureds may be lower than the population loss ratio while the conventional theory of adverse selection c...

abstract this author introduces the concept of stepwise strategy approach (ssa) for dealing with a number of problems arises in the current age of technology. this new idea is combined with the knowledge of grey theory for adding flexibility to decision making process. grey theory is useful for grasping the ambiguity exists in the utilized information and the fuzziness appears in the human judg...

the objective of this article is to develop an empirically based framework for formulating and selecting a vendor in supply chain. this study applies the fuzzy set theory to evaluate the vendor selection decision. applying analytic hierarchy process (ahp) in obtaining criteria weights and applied technique for order performance by similarity to idea solution (topsis) for obtaining final ranking...

considering the major change occurred in business cells from plant to “chain” and the critical need to choose the best partners to form the supply chain for competing in today’s business setting, one of the vital decisions made at the early steps of constructing a business is supplier selection. given the fact that the early decisions are inherently strategic and therefore hard and costly to ch...