Engine Selection Based on Utility Theory

Since an engine is seen as the″heart″of an airplane,the objective and scientific evaluation of it is significant to ensure normal operation of airlines.Aiming at the limitations of current studies on selecting engines,a quantitative comprehensive evaluation system of engine options was established and an optimization model based on the utility theory and analytic hierarchy process(AHP)was proposed.Considering the judgement of different customers on the balance between income and risk,the utility of each evaluation index was determined by utilizing the piecewise utility function.The AHP was used to analyze individual demands of customers.Finally,the optimal scheme was selected through calculating the weighted utility value.According to the actual needs of a domestic airline,the utility of three engine options was calculated.The results showed that the value of risk factor can be set to determine the selection scheme based on the degree of preferences(conservative type,neutral type or adventurous type).

Application of Epistemic Utility Theory to Satisfactory Optimization

Satisficing control remains an important concept in decision making. In this paper, a new epistemic utility satisficing control theory is proposed for a new model of complex CMMO （ constrained multi-objective multi degree-of-freedom optimization） system. As well, an epistemic utility function is developed and used to adjust the feasible region of soft constraints. The theory proved in this paper indicates that the utility function not only expresses the subjectivity of the original satisfactory-degree function, but also takes the cost of searching for a solution into account. Thus, the satisfactory-degree function can be adjusted and its rationality can be validated. This theory contributes an analytical method to the inverse satisfactory optimization problem. The findings indicate that this theory has good convergence and outcomes desired for satisfactory-degree functions.

Cost-effectiveness Assessment of Commonly-used Drugs for Hepatoprotection and Enzymes Reduction Based on Decision Tree and Multi-utility Theory

Objective Drugs for hepatoprotection and enzymes reduction are widely used in China but their economic analysis has been ignored in a rather long period of time. A suitable protocol for hepatoprotection and enzymes reduction was recommended in Longhua Hospital. Methods This study was conducted as a retrospective piece. Three therapeutic protocols （compound glycyrrhizic glycoside combined with aspartic ornithine injection, compound glycyrrhizic glycoside combined with phospha- tidylcholine, and compound glycyrrhizic glycoside combined with tiopronin） were selected. Seventy inpatient cases from January 2011 to February 2012 were enrolled and divided into three groups according to different regimens. The cost effectiveness of the three groups was respectively evaluated by incremental cost-effectiveness ratios （iCERs）. A decision tree model and multi attribution utility theory were also adopted to analyze the data. Results All the three regimens exhibited good effects on protecting liver functions and reducing the levels of enzymes. Among them, the protocol of compound glycyrrhizic glycoside combined with tioproni expressed the least ICER, the lowest cost but the highest score in the multi-utility. Conclusion The therapeutic method of compound glycyrrhizic glycoside combined with tiopronin is the most cost-effective option in this study.

“Extreme utilization” theory and practice in gas storages with complex geological conditions

Based on more than 20-year operation of gas storages with complex geological conditions and a series of research findings, the pressure-bearing dynamics mechanism of geological body is revealed. With the discovery of gas-water flowing law of multi-cycle relative permeability hysteresis and differential utilization in zones, the extreme utilization theory targeting at the maximum amount of stored gas, maximum injection-production capacity and maximum efficiency in space utilization is proposed to support the three-in-one evaluation method of the maximum pressure-bearing capacity of geological body, maximum well production capacity and maximum peak shaving capacity of storage space. This study realizes the full potential of gas storage(storage capacity) at maximum pressure, maximum formation-wellbore coordinate production, optimum well spacing density match with finite-time unsteady flow, and peaking shaving capacity at minimum pressure, achieving perfect balance between security and capacity. Operation in gas storages, such as Hutubi in Xinjiang, Xiangguosi in Xinan, and Shuang6 in Liaohe, proves that extreme utilization theory has promoted high quality development of gas storages in China.

Unlocking the Network Traffic Password of the Sudden Popularity of Oriental Selection:Consumer Behavior Decision-Making Mechanism Based on Mental Accounting Theory

This paper explores the decision-making mechanism of the consuming behavior hidden behind the sudden popularity of the Oriental Selection Company in terms of the mental accounting theory.Firstly,according to the“Non-alternative”characteristics of mental accounting,this paper expounds how the strategy of the bilingual live-streaming of Oriental Selection promoters stimulates consumers’desire to buy the advertised products and services whilst using the utility theory of mental accounting to analyze how Oriental Selection promoters improve consumers’acquisition utility and total utility.Secondly,we sum up the successful experiences of Oriental Selection:The live-streaming industry should apply the theory of mental accounting in effectively overcoming the shortcomings of the live-streamed marketing by stimulating consumers’desire and influencing their decision-making behavior through the streaming of content that triggers them to make purchases.This is achievable by abandoning the traditional ways of loudly urging consumers to buy goods.Finally,this paper puts forward some suggestions on how to use the mental accounting theory in promoting sustainable consumption and points out the prospects for Oriental Selection.

“Extreme utilization”development theory of unconventional natural gas

In the process of unconventional natural gas development practice,the"extreme utilization"concept that focuses on"continuously breaking through the limit of development technology"is gradually formed,and supports the scale benefit exploration of unconventional gas in China.On this basis,the development theory of"extreme utilization"is proposed,its theoretical connotation together with development technologies of unconventional natural gas are clarified.The theoretical connotation is that,aiming at"extreme gas reservoirs","extreme techniques"are utilized to build subsurface connected bodies,expand the discharge area,and enlarge the production range,to obtain the maximum single-well production,extreme recovery,and eventually achieve the"extreme effect"of production.The series of development technologies include micro/nano-scale reservoir evaluation,"sweet spot"prediction,unconventional percolation theory and production capacity evaluation,optimization of grid well pattern,optimal-fast drilling and volume fracturing,and working regulation optimization and"integrated"organizing system.The"extreme utilization"development theory has been successfully applied in the development of unconventional gas reservoirs such as Sulige tight gas,South Sichuan shale gas,and Qinshui coalbed methane.Such practices demonstrate that,the"extreme utilization"development theory has effectively promoted the development of unconventional gas industry in China,and can provide theoretical guidance for effective development of other potential unconventional and difficult-to-recovery resources.

Relative Efficiency Evaluation on Water Resource Utilization

Water resource allocation was defined as an input-output question in this paper, and a preliminary input-output index system was set up. Then GEM （group eigenvalue method）-MAUE （multi-attribute utility theory） model was applied to evaluate relative efficiency of water resource allocation plans. This model determined weights of indicators by GEM, and assessed the allocation schemes by MAUE. Compared with DEA （Data Envelopment Analysis） or ANN （Artificial Neural Networks）, the mode was more applicable in some cases where decision-makers had preference for certain indicators

An improved portfolio optimization model for oil and gas investment selection

For oil company decision-makers,the principal concern is how to allocate their limited resources into the most valuable opportunities.Recently a new management philosophy,＂Beyond NPV＂,has received more and more international attention.Economists and senior executives are seeking effective alternative analysis approaches for traditional technical and economic evaluation methods.The improved portfolio optimization model presented in this article represents an applicable technique beyond NPV for doing capital budgeting.In this proposed model,not only can oil company executives achieve trade-offs between returns and risks to their risk tolerance,but they can also employ an ＂operational premium＂ to distinguish their ability to improve the performance of the underlying projects.A simulation study based on 19 overseas upstream assets owned by a large oil company in China is conducted to compare optimized utility with non-optimized utility.The simulation results show that the petroleum optimization model including ＂operational premium＂ is more in line with the rational investors＇ demand.

Optimal Sprint Length Determination for Agile-Based Software Development

A carefully planned software development process helps in maintaining the quality of the software.In today’s scenario the primitive software development models have been replaced by the Agile based models like SCRUM,KANBAN,LEAN,etc.Although,every framework has its own boon,the reason for widespread acceptance of the agile-based approach is its evolutionary nature that permits change in the path of software development.The development process occurs in iterative and incremental cycles called sprints.In SCRUM,which is one of the most widely used agile-based software development modeling framework;the sprint length is fixed throughout the process wherein;it is usually taken to be 1–4 weeks.But in practical application,the sprint length should be altered intuitively as per the requirement.To overcome this limitation,in this paper,a methodical work has been presented that determines the optimal sprint length based on two varied and yet connected attributes;the cost incurred and the work intensity required.The approach defines the number of tasks performed in each sprint along with the corresponding cost incurred in performing those tasks.Multi-attribute utility theory(MAUT),a multi-criterion decision making approach,has been utilized to find the required trade-off between two attributes under consideration.The proposed modeling framework has been validated using real life data set.With the use of the model,the optimal sprint for each sprint could be evaluated which was much shorter than the original length.Thus,the results obtained validate the proposal of a dynamic sprint length that can be determined before the start of each sprint.The structure would help in cost as well as time savings for a firm.

“Extreme utilization”development of deep shale gas in southern Sichuan Basin,SW China

To efficiently develop deep shale gas in southern Sichuan Basin,under the guidance of“extreme utilization”theory,a basic idea and solutions for deep shale gas development are put forward and applied in practice.In view of multiple influencing factors of shale gas development,low single-well production and marginal profit of wells in this region,the basic idea is to establish“transparent geological body”of the block in concern,evaluate the factors affecting shale gas development through integrated geological-engineering research and optimize the shale gas development of wells in their whole life cycle to balance the relationship between production objectives and development costs.The solutions are as follows:(1)calculate the gold target index and pinpoint the location of horizontal well drilling target,and shale reservoirs are depicted accurately by geophysical and other means to build underground transparent geological body;(2)optimize the drilling and completion process,improve the adaptability of key tools by cooling,reducing density and optimizing the performance of drilling fluid,the“man-made gas reservoir”is built by comprehensively considering the characteristics of in-situ stress and fractures after the development well is drilled;(3)through efficient management,establishment of learning curve and optimization of drainage and production regime,the development quality and efficiency of the well are improved across its whole life cycle,to fulfil“extreme utilization”development of shale gas.The practice shows that the estimated ultimate recovery of single wells in southern Sichuan Basin increase by 10%-20%than last year.

The Utility Additive Method and Its Usage for Studying Consumer Behavior

Multiattribute utility theory is a powerful theory tool to reveal the preferences of the consumers according to multiple attribute points of view. Utility additive (UTA) method based on Multiattribute utility theory is an ordinal regression method using linear programming. The purpose of the UTA method presented in this paper is to assess additive utility functions that aggregate multiple attributes in a composite attribute. The results of it are important for the study of consumer behavior. Finally, a simple illustrative example is presented and some extensions of the method are proposed.

Using behavioural economics to understand tax compliance

‘Behavioural economics’,or the application of methods and evidence from other social sciences to economics,has increased greatly in significance and use in the last two decades.In this paper,we discuss the basic elements of behavioural economics.We then assess the applications of behavioural economics to the analysis of tax compliance.Our central conclusion is that many,perhaps most,of the recent insights on what motivates tax compliance have flowed directly from behavioural economics.We conclude with suggestions on–and predictions of–directions in which future applications should prove useful.

MAKING AND VALIDATING COMPLEX DECISIONS WITH THE AHP/ANP

Several examples that serve to validate the AHP/ANP with matrices hierarchies and networks are given in this paper. They are then followed by a discussion of the real numbers and how they are generated without the need for an absolute zero, and how they define an absolute scale of measurement that also does not need an absolute zero. In the AHP/ANP the measurement of an alternative depends on what other alternatives it is compared with. The result is that rank can change if alternatives are added or deleted, something that does not occur in one-at-a-time rating of the alternatives by comparing them with an ideal. An example is provided to show that this is natural and need not involve new criteria or change in judgments. A brief discussion of Utility Theory, the other multi-criteria theory, which uses interval scales to measure intangibles and some of its problems and paradoxes, is given. The references at the end include most of the papers that are adverse to the AHP with brief comments about several of them given in the paper.

A hierarchical analytical model for performance management of integrated logistics

In this paper,a holistic hierarchical analytical model is proposed to assess the performance of enablers in an integrated logistics system.Due to the ambiguous and complex environment,various refinements are needed to assess enablers and prioritize for the criteria such as economic,operational,and environment.The proposed hierarchical model is developed by a systematic approach that includes fuzzy analytical hierarchy process(FAHP),triangular fuzzy numbers(TFN),an evidential reasoning algorithm(ERA),and expected utility theory(EUT).The FAHP is used to analyze and obtain the weights of the criteria by considering the expert’s opinions.ERA is used to synthesize the enablers based on the selected criteria.These enablers are represented using subjective assessment along with a set of evaluation grades for a qualitative attribute.EUT helps in obtaining crisp values of enablers for their performance estimation.With these set of methodologies,a hierarchical model is proposed that prevent low flexibility and inadequate appropriateness of the proposed model.Further,the model helps in scenario generation for the logistics professionals who are facing various problems in integrating logistics and incorporating sustainability due to lack of appropriate methodologies and evaluation techniques.Finally,sensitivity analysis is used for overall model validation.

Research on Competition Game Algorithm Between High-Speed Railway and Ordinary Railway System Under the Urban Corridor Background

The coexistence of high-speed railway and ordinary railway in public transport corridors has led to competition and cooperation between the two transports systems.In this case study of Baolan high-speed railway,a game theory model is established,including three types of players of high-speed railway,ordinary railway and passenger,and involving three kinds of influencing factors of economy,fastness and comfort.The concept of“linear city”was used to simulate the position of the passengers and passenger’s origin and destination into the two-dimensional O-D matrices.Based on the utility theory and heuristic algorithm,the Nash equilibrium problem was solved,and the reasonable pricing strategy of high-speed railway and ordinary railway was obtained.