bluuebunny/crossref_metadata_2025_split huggingface dataset:
COGNITIVE INFORMATION PROCESSING BIASES: IMPLICATIONS FOR PRODUCERS AND USERS OF FINANCIAL INFORMATION*
Authors: Wright William F. 
Published: June 2007

AbstractThe emerging judgment and decision‐making literature indicates that individuals use heuristic procedures that simplify cognitive processing requirements. Judgments (particularly subjective probabilities) are based on limited processing of a proper subset of the available evidence. Tasks potentially calling for complex analysis are reduced to heuristic procedures and efficient information processing may result; these heuristics can, however, produce systematic biases and costly errors in judgment.People also exhibit cognitive biases that systematically affect judgments of statistical properties of random variables. The biases appear to be cognitive in nature and therefore are not due entirely to emotional, motivational, or cost‐of‐processing considerations. For some cognitive biases, a possible explanation has been suggested in the context of a heuristic processing procedure.The objective of this paper is to analyze and synthesize the currently available research on cognitive heuristics and information‐processing biases from the perspective of research and actual financial decision situations. Important implications for users and designers of information systems will be discussed. One generic conclusion from the literature is that individuals appear to be inadequate “intuitive” statisticians; a need for formal judgment and decision aids will become clear.
FORECASTING WITH EXPONENTIAL SMOOTHING: SOME GUIDELINES FOR MODEL SELECTION
Authors: Gardner Everette S. , Dannenbring David G. 
Published: June 2007

AbstractDespite the general acceptance of exponential smoothing, the choice of a specific smoothing model is often a difficult problem. Previous research involving smoothing‐model comparisons and the penalties for selection of the wrong model has been limited. This paper evaluates the performance of a representative group of smoothing models over a variety of conditions in 9,000 simulated time series. Forecast‐error results demonstrate that a major disadvantage of adaptive smoothing models is their tendency to generate unstable forecasts, even during periods when mean demand itself is stable. Several trend‐adjusted smoothing models are shown to be robust forecasters, whether the time series actually display a trend or not.
ON THE INSENSITIVITY OF BRAND‐CHOICE SIMULATIONS TO ATTRIBUTE IMPORTANCE WEIGHTS
Authors: Green Paul E. , DeSarbo Wayne S. , Kedia Pradeep K. 
Published: June 2007

AbstractThis study compares, via brand‐choice simulation, the effect of various distortions in attribute importance weights on share of choices at the aggregate‐sample level. The results indicate that severe distortions in importance weights can occur with little change in aggregate brand share. The implications of this result for utility estimation in main‐effects conjoint analysis suggest that considerably simpler ways can be adopted to estimate part worths.
ECONOMIC ORDER QUANTITIES BASED ON UNIT‐LOAD AND MATERIAL‐HANDLING CONSIDERATIONS
Authors: Tanchoco Jose M. A. , Davis Robert P. , Wysk Richard A. 
Published: June 2007

AbstractIn this paper, an important but frequently overlooked aspect of production batch‐size planning is addressed: namely, the consideration of unit load and material handling. Thus, an additional cost factor to account for the transportation of unit loads is incorporated in the total cost function which is typically broken down into reorder cost, inventory holding cost, and backorder cost. A cost minimization model is developed that includes constraints related to volume and weight restrictions on unit loads and in‐process storage space. A dynamic programming procedure is utilized to find the minimum cost solution. An example problem is also given.
REFINEMENTS IN THE ISMAIL‐LOUDERBACK STOCHASTIC CVP MODEL*
Authors: Norland Robert E. 
Published: June 2007

AbstractThis paper presents results concerning the Ismail‐Louderback stochastic cost‐volume‐profit model. For the case where demand is normally distributed, an analytic expression for the output that maximizes the probability of achieving specified profits is obtained and a new procedure for determining the output that maximizes the profits, given a target level of probability of their being achieved, is developed. If opportunity costs of lost sales are zero, then analytic expressions for both the above outputs are obtained for any demand distribution.
INFORMATION SUPPORT FOR DECISION‐MAKER LEARNING IN A COMPETITIVE ENVIRONMENT: AN EXPERIMENTAL STUDY
Authors: Chorba Ronald W. , New Joan L. 
Published: June 2007

AbstractAn experimental study of decision‐maker learning in a competitive environment was conducted using a computer simulation game. The subject decision makers included practicing managers, professionals, and management graduate students. The subjects competed in a simulated market and made decisions concerning price, product quality, production level, and marketing effort. The objective of the study was to identify patterns of information usage exhibited by decision makers during the learning process under conditions controlling the availability and cost of information.The experiment convincingly demonstrated that decision makers that have the opportunity to select the data reported to them tend to progress faster in identifying a successful strategy than those that receive an externally prescribed report. This tendency is exhibited independently of the amount of data in the externally prescribed report. Further, there is substantive evidence from the experiment to show that when decision makers are given the opportunity to select their own data, the amount and type of data chosen follows a stable pattern over time during the learning process.
SOCIAL LEARNING THEORY AND THE IMPLEMENTATION OF PRODUCTION INNOVATION*
Authors: Ettlie John E. , Rubenstein Albert H. 
Published: June 2007

AbstractIn a study of the implementation of production innovation using a social learning theory focus, four organizations were monitored with a real‐time study design. The following propositions were strongly supported: (1) During the initial implementation period (3–4 months), the stress felt by personnel in new user organizations was significantly higher (p < .01) than for organizations previously experienced with technology; (2) Firms experienced with the new technology obtain early success when compared with inexperienced firms (p < .01). Moderate support was found for the proposition that new users rely heavily on original equipment manufacturers for demonstration to acquire new skills, but gradually models within the user organization emerge as the dominant influence. The proposition that new users have significantly higher imitation scores than users experienced with the technology was only weakly supported. No substantive or significant changes in the attitudes of users toward the innovation were found during the first three to four months of the implementation period. These and other results suggest that longitudinal studies of this type ought to be carried out over periods in excess of 2 1/2 years. Implications for the management of change are presented.
HEURISTIC LOT‐SIZING PERFORMANCE IN A ROLLING‐SCHEDULE ENVIRONMENT*
Authors: Blackburn Joseph D. , Millen Robert A. 
Published: June 2007

AbstractThis paper examines the impact of a rolling‐schedule implementation on the performance of three of the better known lot‐sizing methods for single‐level assembly systems——Part‐Period‐Cost‐Balancing, Silver‐Meal, and Wagner‐Whitin algorithms—and a modified version of the Silver‐Meal procedure. The main finding is that under certain conditions the computationally simpler Silver‐Meal heuristic can provide cost performance superior to that of the Wagner‐Whitin algorithm.
DYNAMIC LOCATION MODELING FOR PUBLIC‐SECTOR FACILITIES: A MULTICRITERIA APPROACH*
Authors: Schilling David A. 
Published: June 2007

AbstractA major complication in the planning of facility systems and in the analysis of their locational configurations is the fluctuating nature of the systems they serve. Locations identified now, based on current conditions, may be undesirable in the future, and those based on future conditions may be undesirable now.This paper proposes a general methodology using multiobjective analysis to plan public‐sector facility systems operating in a dynamic environment. A model is developed for the specific case of locating emergency services and an illustrative example is presented.
THE ANALYSIS OF OUTLYING DATA POINTS USING ROBUST REGRESSION: A MULTIVARIATE PROBLEM‐BANK IDENTIFICATION MODEL*
Authors: Booth David E. 
Published: June 2007

ABSTRACTBecause the eight largest bank failures in United States history have occurred since 1973 [24], the development of early‐warning problem‐bank identification models is an important undertaking. It has been shown previously [3] [5] that M‐estimator robust regression provides such a model. The present paper develops a similar model for the multivariate case using both a robustified Mahalanobis distance analysis [21] and principal components analysis [10]. In addition to providing a successful presumptive problem‐bank identification model, combining the use of the M‐estimator robust regression procedure and the robust Mahalanobis distance procedure with principal components analysis is also demonstrated to be a general method of outlier detection. The results from using these procedures are compared to some previously suggested procedures, and general conclusions are drawn.
THE EFFECTIVENESS OF EXTENDING THE HORIZON IN ROLLING PRODUCTION SCHEDULING
Authors: Carlson Robert C. , Beckman Sara L. , Kropp Dean H. 
Published: June 2007

ABSTRACTIn recent work, Baker [1] has investigated the use of rolling schedules for multiperiod production scheduling problems. One of his results is that the longest possible forecast horizon is not necessarily the best. He also found that the rolling schedules' effectiveness fluctuates widely depending upon the length of the forecast horizon. To smooth these fluctuations we have investigated use of forecasting to extend the problem horizon. Some of our results confirm the previous conclusions, but other results support the position that “the more information the better.”
OBTAINING AND PARAMETERIZING MULTIPERIOD PORTFOLIOS WITH DESIRABLE CHARACTERISTICS UNDER LOGNORMAL RETURNS
Authors: Hilliard Jimmy E. , Clayton Ronnie J. 
Published: June 2007

ABSTRACTThe expected geometric mean has been shown to be a valuable criterion in ranking portfolios of assets. For example, under certain conditions the maximum expected geometric‐mean portfolio minimizes the expected time to amass a fixed level of wealth as wealth becomes “large.” This paper develops a simple algorithm for obtaining such portfolios when portfolio returns are assumed to be lognormally distributed. The risk‐return characteristics of portfolios are derived and illustrated using data from a subset of stocks found on the New York Stock Exchange.
AN ALTERNATIVE VARIANCE‐REDUCTION STRATEGY FOR RSM SIMULATION STUDIES
Authors: Safizadeh M. Hossein , Thornton Billy M. 
Published: June 2007

ABSTRACTIn the previous paper, Cooley and Houck [1] examined the simultaneous use of common and antithetic random number streams as a variance‐reduction strategy for simulation studies employing response surface methodology (RSM). Our paper supplements their work and further explores pseudorandom number assignments in response surface designs. Specifically, an alternative strategy for assigning pseudorandom numbers is proposed; this strategy is more efficient than that given by Cooley and Houck, especially when more than two factors are involved.
ESTIMATING EMPLOYMENT DISCRIMINATION LIABILITY WITH A DETERMINISTIC SIMULATION*
Authors: Krzystofiak Frank 
Published: June 2007

ABSTRACTThis paper presents an employment discrimination liability model that estimates back‐pay liability for an employer's discriminatory employment practices by simulating employment practices under assumptions of fairness. Comparison of the racial/sexual composition of the simulated fair work force with the racial/sexual composition of the employer's actual work force permits identification of cases of discrimination. The model suggests that the choice of a stock or flow approach will have a significant effect on the amount of employer liability.
RADIOISOTOPE PRODUCTION SCHEDULING IN A NUCLEAR REACTOR
Authors: Economides Spyros C. , Crawford Wayne T. 
Published: June 2007

ABSTRACTA multiperiod mixed integer programming model has been developed for the production scheduling of several grades of a radioisotope in a nuclear reactor. Of special interest is the model's capability to evaluate possible future product “short falls” due to the acceptance of an unforecasted demand sales opportunity. The model is essential to decisions concerning reactor loading after an extended shutdown of several periods for modifications, maintenance, and upgrading.
POTENTIAL RESEARCH TOPICS IN DECISION ANALYSIS*
Authors: Keeney Ralph L. 
Published: June 2007

Robert L. Winkler's paper [1] provides a comprehensive overview of challenging research areas for decision making under uncertainty. Hence, rather than try to extend the list of research areas identified, this note will attempt to embellish some that I feel are particularly important. In these areas, I feel the value of systematic research is particularly high.For convenience, the discussion will be organized under the four research categories identified by Winkler with a couple of sugestions following in an “implementation research” category. The reader will note, however, that many of the suggested topics actually relate to more than one research category.
STOCHASTIC COST‐VOLUME‐PROFIT ANALYSIS IN A COMPETITIVE OLIGOPOLY
Authors: Karnani Aneel 
Published: June 2007

ABSTRACTPrevious stochastic cost‐volume‐profit (CVP) models have assumed that the firm was operating under either perfect competition or monopolistic conditions. This paper presents a stochastic CVP model applicable to oligopolistic competition. Each firm is assumed to maximize a linear function of the expected value and the standard deviation of its random profits. The result is a game‐theoretic model that is solved using the concept of a Nash equilibrium. The results of the model are used to examine a firm's competitive strength. The model can be easily modified to accommodate a measure of risk based on the capital asset pricing theory.
ENVIRONMENTAL SCANNING: THE EFFECTS OF TASK COMPLEXITY AND SOURCE ACCESSIBILITY ON INFORMATION GATHERING BEHAVIOR*
Authors: Culnan Mary J. 
Published: June 2007

ABSTRACTThis field study investigated the use of nine information sources (personal subscriptions to periodicals, company library, data bases, superiors, subordinates, peers, internal documents, consultants, and other outsiders) for environmental scanning by 362 professionals employed in the corporate headquarters of two large commercial organizations. The usage frequency of essentially all information sources was positively related to perceived accessibility; however, usage frequency also tended to be positively related to environmental complexity. These results suggest that the information‐gathering requirements associated with an individual's job may necessitate the use of less accessible sources, and this finding represents a break with prior research.
SCAT AND SPAT: LARGE‐SCALE COMPUTER‐BASED OPTIMIZATION SYSTEMS FOR THE PERSONNEL ASSIGNMENT PROBLEM
Authors: Hill Arthur V. , Naumann J. David , Chervany Norman L. 
Published: June 2007

ABSTRACTThe personnel assignment problem involves the assignment of people to tasks, projects, etc., in a manner that maximizes a measure of aggregate utility for the assignees subject to several assignment constraints. In addition to computationally efficient solution algorithms, the effective implementation of mathematical models to solve the personnel assignment problem must include data processing systems with comprehensive error checking/resolution procedures, end user reports, documentation, and training. This paper summarizes two successful computer‐based systems for solving large‐scale personnel assignment problems that frequently occur in university settings. SCAT, the Student‐Company Assignment Technique, assigns students to job interview slots. SPAT, the Student‐Project Assignment Technique, assigns students to project teams in an MBA field project course. The SCAT and SPAT approaches can be generalized to a wide variety of personnel assignment problems in university, industry, government, and military settings.
REORDER‐POINT MODELS WITH DISCRETE PROBABILITY DISTRIBUTIONS
Authors: Van Ness Paul D. , Stevenson William J. 
Published: June 2007

ABSTRACTThis paper is concerned with the determination of reorder points and safety‐stock levels for situations where both the demand and lead‐time distributions are discrete and independent. Formulas are developed for computing exact probabilities for the lead‐time demand distribution on the basis of empirical distributions. Practitioners can use the model to obtain exact probabilities for situations where the computational burden is justified, while academicians can use the model to evaluate heuristic approaches to the reorder‐point problem.
EOQ FORMULA: IS IT VALID UNDER INFLATIONARY CONDITIONS?
Authors: Jesse Richard R. , Mitra Amitava , Cox James F. 
Published: June 2007

ABSTRACTThe classical analysis of the economic order quantity (EOQ) problem ignores the effect of inflation. When a firm's cost factors are expected to rise at an annual rate of 10 percent or more, what adjustments in order quantities should the firm make to control its lot‐size inventory (or cycle stock)? Using a model that includes both inflationary trends and time discounting, it is concluded that inflation brings no incentive either to increase or to decrease order quantities. In addition, order quantities can be computed using the classical EOQ formula under inflationary conditions, provided that the cost of capital invested in inventory is interpreted as an inflation‐free cost. This interpretation implies that changes in the inflation rate should not affect the cost of capital that is utilized in the EOQ formula for determining order quantities.
CONTINUITY IN MIS/DSS LABORATORY RESEARCH: THE CASE FOR A COMMON GAMING SIMULATOR*
Authors: Courtney James F. , DeSanctis Gerardine , Kasper George M. 
Published: June 2007

ABSTRACTTo date, case analyses and field studies have predominated in MIS/DSS research. Laboratory studies seem not to have been given the attention they deserve. This trend is partially due to: (1) the high costs associated with developing decision simulators and related software to support laboratory research and (2) difficult problems with external validity because of unrealistically simple simulated decision environments and DSS software. Since MIS/DSS laboratory research has been most successful when studies have occurred in an interrelated stream, the development of common, portable, and flexible simulators seems desirable. Common simulators would reduce the time and cost of developing experiments, provide for research continuity, comparability, and replication, and facilitate researcher‐to‐researcher communication. Sufficiently complex simulators and DSS software would reduce problems with external validity by providing more realistic laboratory models. This paper presents a software package that offers considerable potential as a common tool for DSS research.
THE HERMITE DISTRIBUTION AS A MODEL OF DEMAND DURING LEAD TIME FOR SLOW‐MOVING ITEMS
Authors: Bagchi Uttarayan , Hayya Jack C. , Ord J. Keith 
Published: June 2007

ABSTRACTHeretofore, the Poisson and the Laplace distributions have been used to model demand during lead time for slow‐moving items. In this paper, we present a Poisson‐like distribution called the Hermite. The advantage of the Hermite is that it is as simple to use as the Poisson and the Laplace are. Moreover, the Hermite is the exact distribution of demand during lead time when unit demand is Poisson, P(Λ), and lead time is normally distributed, N(μ, σ2), so long as (μ/σ2)≥Λ. Thus, the Hermite can enhance the accuracy of analysis as well as add to the tools available to the analyst.
EFFECTS OF CONFLICTING ANALYSES ON MANAGERIAL DECISION MAKING: A LABORATORY EXPERIMENT
Authors: Schwenk Charles R. , Thomas Howard 
Published: June 2007

ABSTRACTResearchers in a variety of disciplines have recommended the use of multiple conflicting data analyses to improve managerial decision making through the challenging of assumptions. This study deals with the effects of single data analyses and conflicting analyses on managers' solutions to a case analysis task. Results showed that managers who received conflicting analyses produced solutions with higher expected profits than those who received single analyses. Implications for the use of analytic decision aids are noted.
THE IMPACT OF PROBABILISTIC INFORMATION ON DECISION BEHAVIOR AND PERFORMANCE IN AN EXPERIMENTAL GAME
Authors: Eckel Norman L. 
Published: June 2007

ABSTRACTThis research presents the results of a longitudinal experiment using experimental gaming. The results suggest that probabilistic information did change decision behavior and improve subject performance in the experiment. Moreover, there appeared to be a learning effect associated with the use of probabilistic information. Finally, the source of information (externally supplied by the researcher or generated by the subjects themselves) had an impact on decision behavior and performance in the experiment.
THE PREDICTIVE ABILITY CRITERION IN EXPERIMENTAL JUDGMENT RESEARCH IN ACCOUNTING*
Authors: Schepanski A. 
Published: June 2007

ABSTRACTPrevious experimental judgment research in accounting has been interpreted as supportive of the linear model as an appropriate representation of decision‐making behavior in nearly all of the tasks investigated. Moreover, nonlinear models have come to be viewed as adding relatively little predictive power over that provided by the linear model, even in tasks considered to be inherently nonlinear. These conclusions were based largely upon evaluating the predictive ability of the linear model in terms of statistics measuring the proportion of variance accounted for by the model. In the present paper it is argued that, since these statistics are not independent of the experimental design, it is not clear whether the high correlations are indicative of the model's success in representing decision‐making processes or instead are more the result of various features of the experimental design. It is suggested that correlational tests be supplemented with qualitative tests of the predictive ability of a model. Implications for accounting are discussed.
A MATHEMATICAL PROGRAMMING APPROACH TO THE SELECTION OF ACCESS PATHS FOR LARGE MULTIUSER DATA BASES*
Authors: March Salvatore T. 
Published: June 2007

ABSTRACTThe selection of an efficient set of access paths is critical to the design of large multiuser data bases. This task is formulated as an integer, linear mathematical program, and an approach to its solution is presented. A series of experiments support the assertion that this approach is sufficient for quickly producing an efficient, if not optimal, set of access paths for data‐base problems of practical significance.
THE EFFECTS OF DEGENERACY ON COST‐COEFFICIENT RANGES AND AN ALGORITHM TO RESOLVE INTERPRETATION PROBLEMS
Authors: Knolmayer Gerhard 
Published: June 2007

ABSTRACTThe problems of determining valid shadow prices and of performing a valid sensitivity analysis for managerial purposes are considered. For primal degenerate optima, earlier results on finding shadow prices are used to propose a clear and efficient method for finding valid cost‐coefficient ranges. An example is used to demonstrate how managerial information can be obtained at degenerate optima.