• Journal of the Korean Operations Research and Management Science Society
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• v.3 no.1
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• pp.81-91
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• 1978

Decision models are an attempt to reduce uncertainty in the decision making process. The models describe the relationships of variables and given proper input data generate solutions to managerial problems. These solutions may not be answers to the problems for one of two reasons. First, the data input into the model may not be consistant with the underlying assumptions of the model being used. Frequently parameters are assumed to be deterministic when in fact they are probabilistic in nature. The second failure is that often the decision maker recognizes that the data available are not appropriate for the model being used and begins to collect the required data. By the time these data has been compiled the solution is no longer an answer to the problem. This relates to the timeliness of decision making. The authors point out throught the use of an illustrative problem that stocastic models are well developed and that they do not suffer from any lack of mathematical exactiness. The primary problem is that generally accepted procedures for data generation are historical in nature and not relevant for probabilistic decision models. The authors advocate that management information system designers and accountants must become more familiar with these decision models and the input data required for their effective implementation. This will provide these professionals with the background necessary to generate data in a form that makes it relevant and timely for the decision making process.

• Journal of the Korean Operations Research and Management Science Society
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• v.29 no.3
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• pp.157-169
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• 2004

This paper presents a prescriptive approach to group decision making with group members' imprecise preference information. This includes an alternative method to Salo's inventive approach for identifying group's preferred alternative when attribute weights, consequences, and possibly group members' importance weights are specified in imprecise ways. The imprecise additive group value function can be decomposed into individual group member's imprecise decision making problems, which are finally aggregated to identify group's preferred alternative. The proposed approach is intuitive and easy to implement, and has merits in a couple of points. First. it is possible to view individual group member's inclinations toward conflicting alternatives and the degree of discrepancies to each other. Second, we can observe how much previous decision results of individual decision maker are influenced during interaction since decisions usually are not made at a single step especially in presence of partial preference information. Finally, the individual group member's decision results can be utilized for further investigation of dominance relations among alternatives in a case that interactive questions and responses fail to give a convergent group consensus.

• The Transactions of the Korea Information Processing Society
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• v.4 no.12
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• pp.3045-3051
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• 1997

Generally, multi-criteria decisions are made by group of people because of their complexity. In the existing fuzzy aggregation method, the operators using minimum, maximum and average are used to aggregate the viewpoints of many staffs. These methods have problems in that they do not reflect the decision situation in the decision process. In order to solve these problems we propose a new fuzzy multi-criteria decision support systems model that aids the decision maker to aggregate the viewpoints of many staffs according to the decision situation. Moreover, we design the algorithms which can be used in the fuzzy multi-criteria decision support systems and develop its prototying system.

• Journal of Digital Convergence
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• v.10 no.11
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• pp.175-183
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• 2012

The purpose of this study is to investigate the relationships between institutional pressures and IT investment decision making of management. To analyze the proposed model, we distribute survey questionnaires to mid-size IT firms and collect data from them. Furthermore, the proposed model was tested by PLS(Partial Least Squares) technique. We found that coercive pressure and normative pressure have an effect on mimetic pressure. However, these two pressures do not influence the IT investment decision making. The mimetic pressure has an effect on the IT investment decision making. The conclusions and implications are discussed.

• Proceedings of the Korea Water Resources Association Conference
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• 2010.05a
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• pp.798-802
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• 2010

The integration of GIS and fuzzy MCDA(Multi-Criteria Decision Analysis) allows the engineer to determine the preferred alternative for each spatial location in the study area. The next step is to recommend to the final decision makers a single flood management alternative for the entire region. Note that if the study area is large, it might be possible to use the kind of information to recommend different alternatives for different portions of the region. However, for this study it is assumed that only a single alternative will be used. In this study, a "cost of uniformity" metric is proposed that allows decision makers to compute the impact of selecting a single alternative for the entire floodplain. This metric represents the increase in the average distance metric value as compared to the spatially diverse solution from the MCDA and GIS analysis. The results could be applied to any region of the floodplain as desired. Whether the decision makers decide to apply these calculations to the entire floodplain or to specific important regions within the floodplain, an analysis of the increases in the cost of uniformity provides an integrated way for the decision maker to rank the alternatives. This should provide an improvement in their engineering analysis.

• Journal of Korean Institute of Industrial Engineers
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• v.25 no.3
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• pp.310-320
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• 1999

A mixed model assembly line (MMAL) is a special type of production line where a variety of product models similar in product characteristics are assembled. Determining the model sequence is an important problem for the efficient use of MMALs. This paper considers interactive multiobjective decision making problems for MMAL sequencing. Evolution program is employed as an underlying framework. In this study, a way of approximating the linear utility function is first studied. To improve its search efficiency to the solution space preferred by a decision maker, some modifications of a standard evolution program are made: operating several subpopulations instead of a single population and merging two or more subpopulations to a single subpopulation, and using a Pareto pool. Extensive computational experiments are carried out to verify the performance of the proposed approach. The computational results show that our approach is promising in solution quality.

• Journal of the Korean Operations Research and Management Science Society
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• v.19 no.2
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• pp.75-84
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• 1994

The uncertainty in the relative weights of a pairwise comparison matrix n Multi-attribute Decision Making (MADM) is caused by imprecise preference information of decision maker. In this paper, it is shown how weight of attributes can be derived from the pairwise comparison matrix with interval pairwise comparison. The preference information of each pair of attributes with a point pairwise comparison is combined with an interval pairwise comparison in order to estimate a point pairwise comparison for a pair of attributes with the imprecise preference information. A numerical example shows the suggested procedure for deriving weights of attributes.

• Journal of the Korean Operations Research and Management Science Society
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• v.28 no.4
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• pp.39-60
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• 2003

In this study, we evaluate financial performance of 21 domestic life insurers using SAW (simple additive weighting), ELECTREII, cluster analysis respectively, and suggest a hybrid approach of combining cluster analysis and ELECTREII to reclassify the life insurers into more meaningful groups according to their respective financial features. We also perform the sensitivity analysis employing ANOVA and Tukey's test to examine the robustness of ELECTREII, which would be influenced by decision maker's subjective preference parameters. Consequently, it is shown that ELECTREII turns out to be a flexible method providing decision makers with useful ranking Information especially under fuzzy decision making situation with incomparable alternatives, and hence it can serve as a complementary method to overcome the weakness of classical cluster analysis.

• Environmental and Resource Economics Review
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• v.10 no.3
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• pp.345-366
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• 2001

Evaluating environmental impacts of regional development projects has critical importance in environmental management aspect. This paper uses multi-attribute utility theory as a basis for obtaining a value index to assess the environmental impacts and applies the theory to a specific Korean case study. To structure and quantify basic values for the assessment, we elicited important attributes, then refined and structured them into a hierarchy. An environmental multi-attribute index is constructed as a multi-attribute utility function, based on value judgments provided by a group of technical experts, policy makers, and a decision-maker at Korean Ministry of Environment. The implications of the results are also discussed. We found that the work and results can provide valuable insights for assessment of environmental consequences.

• Proceedings of the Korean Operations and Management Science Society Conference
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• 1998.10a
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• pp.137-140
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• 1998

In this study, we have developed algorithms to find more effective solutions for compensatory decision-making problems in the case of the decision maker with fuzziness which can occur in a real world fuzzy environment. We have applied the algorithm to the problems related to the structural reform of the capital and the number of workers in the local industry. We have selected Taegu city for this study. In this study, we have determined the capital and the number of workers, satisfying maximum productivity and minimum air and water pollution under the constraints such as capital-labor ratio, the demand for land and water and the fluctuation of the capital and the number of workers. The determined capital and the number of workers could improve the competitive advantage of Taegu city and could be utilized as criteria for the compilation of the budget, determination of policy for supporting plan of companies, the forecast of number of workers and the training plan of workers.