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Integrating cluster analysis with MCDM methods for the evaluation of local agricultural production Croatian Operational Research Review Pub Date : 2021-01-01 Omurbek Nuri,Onur Akcakaya,Ezgi Dilan Urmak Akcakaya
This study aims to cluster Turkish cities based on their local agricultural production and rank them in terms of performance by combining cluster analysis and multi-criteria decision-making (MCDM) methods. In this context, a three-phase methodology is developed. In the first phase, Ward's method is utilized to cluster cities according to agricultural production characteristics. In the second phase
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Impact of Plant Utilization on Irreversible Investment Under Uncertainty with Application to Refinery Investment Croatian Operational Research Review Pub Date : 2021-01-01 Sunday Ewansiha Omosigho,Esosa Enoyoze,Virtue U. Ekhosuehi
Why are some regions preferred when investors consider irreversible investment? This study offers an explanation to this question and suggests improvements that will assist disadvantaged regions improve on their bid for funds. The paper considers irreversible investment under uncertainty when installed capacity utilization is incorporated. We develop a normative model for irreversible investment problem
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On the uniqueness of the solution of the cost minimization problem with generalized Sato production function Croatian Operational Research Review Pub Date : 2021-01-01 Vedran Kojic,Zrinka Lukac,Krunoslav Puljic
Whenever a firm is maximizing its profit, it necessarily has to minimize its cost. Thus, the cost minimization problem is one of the central problems in the theory of the firm. When presenting this problem, the majority of microeconomic textbooks use very well-known production functions, such as Leontief, Cobb-Douglas, or other CES production functions. The goal of this paper is to analyze the cost
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Does financial behavior mediate the relationship between self-control and financial security? Croatian Operational Research Review Pub Date : 2021-01-01 Marija Vukovic,Snjezana Pivac
People have different financial behavior depending on their psychological characteristics, which can reflect their financial security. Self-control is also an important predictor of financial security. People with greater self-control are more likely to save money and less likely to get into debt. Therefore, they are more secure and satisfied with their financial situation. This paper explores whether
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Multicriteria analysis of the quality of teaching process in higher education: how to evaluate implementation of critical thinking Croatian Operational Research Review Pub Date : 2021-01-01 Marko Hell,Ante Knezevic,Zoran Babic
One of the main goals of any higher education system is developing students’ critical thinking. Critical thinking contributes to decision-making and problem-solving skills, whether for professional or personal purposes. Teaching, on the other hand, has been largely influenced by new information technologies which have changed some of the related concepts and tools. The quality of the teaching process
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The role of capital in bank failures across EU-15 countries: backward LR approach Croatian Operational Research Review Pub Date : 2021-01-01 Ana Kundid Novokmet
Resolving the puzzle which financial indicators persistently indicate severe disruptions in the business of banking, is of the utmost importance for prudential authorities. Thus, the intent of this paper is to outline microeconomic determinants of bankruptcies within the banking sectors of the EU-15 countries and to clarify the role of bank capital in it. Namely, the bank capital regulation is designed
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Patterns of productivity changes in nursing homes by using Malmquist DEA index Croatian Operational Research Review Pub Date : 2021-01-01 Josipa Višić,Lana Kordić
Motivation to open a for-profit nursing home is the same as motivation to start any other business, and it seems that, due to various demographic and social changes, the interest in this sector, especially in developed countries, will increase in the future. In that context, this research aims to analyze the efficiency of for-profit nursing homes with a focus on Croatian for-profit nursing homes from
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A Linear Programming Relaxation DEA Model for Selecting a Single Efficient Unit with Variable RTS Technology Croatian Operational Research Review Pub Date : 2021-01-01 Reza Akhlaghi,Mohsen Rostamy-Malkhalifeh,Alireza Amirteimoori,Sohrab Kordrostami
The selection-based problem is a type of decision-making issue which involves opting for a single option among a set of available alternatives. In order to address the selection-based problem in data envelopment analysis (DEA), various integrated mixed binary linear programming (MBLP) models have been developed. Recently, an MBLP model has been proposed to select a unit in DEA with variable returns-to-scale
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A Test of the validity of Crowding-out (or- in) hypothesis: A new examination of link between public borrowing and private investment in Emerging Europe Croatian Operational Research Review Pub Date : 2021-01-01 Mehmed Ganic,Lejla Hodzic,Ognjen Ridic
This study seeks to test the existence of the crowding-out (or- in) hypothesis in a sample of 17 Emerging Europe countries divided in two panels. The study employs a panel autoregressive distributed lag (ARDL) model based on three estimators, Mean Group Estimator (MG), Pooled Mean Group (PMG) and Dynamic Fixed Effect (DFE), in order to evaluate the of stability of short run and long run coefficients
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Multiple STL decomposition in discovering a multi-seasonality of intraday trading volume Croatian Operational Research Review Pub Date : 2021-01-01 Josip Arneric
The seasonal and trend decomposition of a univariate time-series based on Loess (STL) has several advantages over traditional methods. It deals with any periodicity length, enables seasonality change over time, allows missing values, and is robust to outliers. However, it does not handle trading day variation by default. This study offers how to deal with this drawback. By applying multiple STL decompositions
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The Study of Depot Position Effect on Travel Distance in Order Picking Problem Croatian Operational Research Review Pub Date : 2021-01-01 Agung Chandra,Christine Natalia
Research of travel distance on single - depot position in warehouse is tremendous. This study focuses more on the effect of two-depot position on travel distance in order picking problem (OPP) by using the concept of traveling salesman problem (TSP) and exact method – Branch and Bound (B\&B) algorithm. The total distance of one-depot position is shorter than two-depot position for single and double
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Iterated Prisoner's Dilemma among mobile agents performing 2D random walk Croatian Operational Research Review Pub Date : 2021-01-01 Jurica Hižak
When Iterated Prisoner's Dilemma takes place on a two-dimensional plane among mobile agents, the course of the game slightly differs from that one in a well-mixed population. In this paper we present a detailed derivation of the expected number of encounters required for Tit-for-tat strategy to get even with Always-Defect strategy in a Brownian-like population. It will be shown that in such an environment
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The mediating role of managerial accounting in non-profit organizations: a structural equation modelling approach Croatian Operational Research Review Pub Date : 2021-01-01 Ivana Perica
Structural equation modelling (SEM) characteristics seem to be adapted to answer various relevant research questions in management accounting research. Thus, this study aims to illustrate the use and advantages of SEM in management accounting research in the non-profit sector. The contributions of this study include revealing the relationship between the leadership style, managerial accounting, and
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The Curricular Practical Training Rotation Problem Formulation and the Assessment of Rotation Strategies Croatian Operational Research Review Pub Date : 2021-01-01 Ahmet Bahadır Şimşek
This study addresses the curricular practical training rotation problem, which is a type of staff assignment problem. Many educational institutions require theoretical knowledge to be complemented by practical training. Although the details of the implementation differ from institution to institution, it is necessary to prepare a rotation plan that determines how long the trainees will practice in
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Ranking of hydropower projects based on sustainability criteria in India using multicriteria decision making methods Croatian Operational Research Review Pub Date : 2021-01-01 Anuja Shaktawat,Shelly Vadhera
Assessment of hydropower projects with respect to sustainability criteria is a multidimensional and complex issue. It requires considering technical, environmental, and social parameters instead of purely economic ones in decision making for energy planning. The flexibility to consider several criteria and objectives simultaneously leads to the use of multicriteria decision making (MCDM) methods which
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Efficiency of European Airports: Parametric Versus Non-parametric Approach Croatian Operational Research Review Pub Date : 2021-01-01 Marketa Matulova,Jana Rejentova
This paper presents a performance evaluation of European airports, based on the application of both parametric and non-parametric approaches. We have evaluated the 115 busiest airports in Europe according to the number of passengers checked-in in 2018. The four inputs we used were the number of Terminals, Runways, Boarding gates, and Aircraft stands. Three variables were used to describe the outputs
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Estimating the tail conditional expectation of Walmart stock data Croatian Operational Research Review Pub Date : 2020-07-07 Hakim Ouadjed,Tawfiq Fawzi Mami
Stable distribution, also known as Lévy stable distribution, which is a rich class of heavy– tailed distributions can capture asymmetry and heavy tails observed in financial data. In this paper, we fit an AR(1) process with α–stable innovations to the logarithms of volumes of Walmart stock traded daily on the New York Stock Exchange and estimate the TCE (Tail Conditional Expectation) risk measure.
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On impatience in M/M/1/N/DWV queue with vacation interruption Croatian Operational Research Review Pub Date : 2020-07-07 Amina Angelika Bouchentouf,Abdelhak Guendouzi,Shakir Majid
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Perceptionization of FM/FD/1 queuing model under various fuzzy numbers Croatian Operational Research Review Pub Date : 2020-07-07 Usha Prameela Karupothu, Pavan Kumar
We present an FM/FD/1 queuing model with unbounded limit under different fuzzy numbers. The arrival (landing) rate and service (administration) rate are thought to be fuzzy numbers such as triangular, trapezoidal and pentagonal fuzzy numbers. Because random event can only be observed in an uncertain manner, the fuzzy result of an uncertainty mapping is a fuzzy random variable. Consequently, it is conceivable
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Parameter identification in the mathematical model of glucose and insulin tolerance test - the mathematical markers of diabetes Croatian Operational Research Review Pub Date : 2020-07-07 Marija Heffer, Vedrana Ivic, Rudolf Scitovski
Glucose tolerance test (GTT) is standard diagnostic procedure that tests the efficiency of blood glucose-lowering hormones (insulin, incretins, leptin). Contrary, insulin tolerance test (ITT) is probing efficiency of blood glucose-rising hormones (glucagon, thyroxine, growth hormone, glucocorticoids, adrenalin, noradrenalin). These two hormone systems together maintain blood glucose levels in a narrow
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A new selection operator for genetic algorithms that balances between premature convergence and population diversity Croatian Operational Research Review Pub Date : 2020-07-07 Abid Hussain, Salman A. Cheema
The research objective is to find a balance between premature convergence and population diversity with respect to genetic algorithms (GAs). We propose a new selection scheme, namely, split-based selection (SBS) for GAs that ensures a fine balance between two extremes, i.e. exploration and exploitation. The proposed selection operator is further compared with five commonly used existing selection operators
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Game theory in solving conflicts on local government level Croatian Operational Research Review Pub Date : 2020-07-07 Nikolina Zajdela Hrustek, Nenad Persi, Dino Klicek
Game theory is often used while making decisions in situations of conflicted interests. This research studies practical application of game theory with emphasis on applying linear programming, ie simplex algorithm while solving problems in game theory domain. Different cases of game theory application in various scientific disciplines went through theoretical analysis. After the analysis was conducted
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Fuzzy-rough set models and fuzzy-rough data reduction Croatian Operational Research Review Pub Date : 2020-07-07 Alireza Mansouri Ghroutkhar, Hassan Mishmast Nehi
Rough set theory is a powerful tool to analysis the information systems. Fuzzy rough set is introduced as a fuzzy generalization of rough sets. This paper reviewed the most important contributions to the rough set theory, fuzzy rough set theory and their applications. In many real world situations, some of the attribute values for an object may be in the set-valued form. In this paper, to handle this
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A supply chain model under return policy considering refurbishment, learning effect and inspection error Croatian Operational Research Review Pub Date : 2020-07-07 Sujata Saha, Tripti Chakrabarti
This article presents a three-echelon supply chain model consisting of a supplier, manufacturer, and a retailer, considering the return contract between the manufacturer and the retailer. Here, the manufacturer has two adjacent production units - the main production unit and a refurbishment unit. The main production unit of the manufacturer is imperfect, which produces an admixture of perfect and defective
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An algorithm for piece-wise indefinite quadratic programming problem Croatian Operational Research Review Pub Date : 2020-07-07 Ritu Arora, Kavita Gupta
An indefinite quadratic programming problem is a mathematical programming problem which is a product of two linear factors. In this paper, the piece-wise indefinite quadratic programming problem (PIQPP) is considered. Here, the objective function is a product of two continuous piecewise linear functions defined on a non-empty and compact feasible region. In the present paper, the optimality criterion
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A sufficient conditions for global quadratic optimization Croatian Operational Research Review Pub Date : 2020-07-07 Mourad Naffouti, Abdeljelil Baccari
This paper is devoted to global optimality conditions for quadratic optimization problems in a real space of dimension n. More precisely, we are concerned with nonconvex quadratic optimization problems with linear constraints. We present some sufficient conditions of global optimality for such problems subject to linear equality and inequality constraints. We prove that when the set of Karush-Kuhn-Tucker
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Application of Markov chains in managing human potentials Croatian Operational Research Review Pub Date : 2020-07-07 Nikolina Zajdela Hrustek, Damira Kecek, Ines Polgar
Human potentials make a unique foundation to every organization. Due to individuals’ differences which enable a business surroundings and create competitive advantage, it is necessary to coordinate them to the mission, vision and goals set by the organization in order to satisfy the needs for specific knowledge and skills, and effectively realize the defined business goals. Application of Markov chains
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On local quasi efficient solutions for nonsmooth vector optimization problems Croatian Operational Research Review Pub Date : 2020-07-07 Mohsine Jennane, Lhoussai El Fadil, El Mostafa Kalmoun
We are interested in local quasi efficient solutions for nonsmooth vector optimization problems under new generalized approximate invexity assumptions. We formulate necessary and sufficient optimality conditions based on Stampacchia and Minty types of vector variational inequalities involving Clarke’s generalized Jacobians. We also establish the relationship between local quasi weak efficient solutions
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Application of Markov chains in managing human potentials Croatian Operational Research Review Pub Date : 2020-07-07 Nikolina Zajdela Hrustek, Damira Kecek, Ines Polgar
Human potentials make a unique foundation to every organization. Due to individuals' differences which enable a business surroundings and create competitive advantage, it is necessary to coordinate them to the mission, vision and goals set by the organization in order to satisfy the needs for specific knowledge and skills, and effectively realize the defined business goals. Application of Markov chains
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Extended RFM logit model for churn prediction in the mobile gaming market Croatian Operational Research Review Pub Date : 2020-01-01 Ana Perisic,Marko Pahor
As markets are becoming increasingly saturated, many businesses are shifting their focus to customer retention. In their need to understand and predict future customer behavior, businesses across sectors are adopting data-driven business intelligence to deal with churn prediction. A good example of this approach to retention management is the mobile game industry. This business sector usually relies
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Robust optimization for U-shaped assembly line worker assignment and balancing problem with uncertain task times Croatian Operational Research Review Pub Date : 2020-01-01 Ömer Faruk Yılmaz
Awareness of the importance of U-shaped assembly line balancing problems is all on the rise. In the U-shaped assembly line, balancing is affected by the uncertainty associated with the assembly task times. Therefore, it is crucial to develop an approach to respond to the uncertainty caused by the task times. When the great majority of existing literature related to uncertainty in the assembly line
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Solving fully neutrosophic linear programming problem with application to stock portfolio selection Croatian Operational Research Review Pub Date : 2020-01-01 Hamiden Abd El-Wahed Khalifa,Pavan Kumar
Neutrosophic set is considered as a generalized of crisp set, fuzzy set, and intuitionistic fuzzy set for representing the uncertainty, inconsistency, and incomplete knowledge about the real world problems. In this paper, a neutrosophic linear programming (NLP) problem with single-valued trapezoidal neutrosophic numbers is formulated and solved. A new method based on the so-called score function to
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Different convergence rates of new EU member states: Panel data analysis of the causes Croatian Operational Research Review Pub Date : 2020-01-01 Josip Viskovic,Pasko Burnac,Ivan Ramljak
This paper, using panel data analysis, tries to identify factors regarding the different convergence rates of CESEE EU member countries’ real income between 2002 and 2018. Stylized convergence facts are identified and the drivers of economic growth based on production function, i.e. the accumulation of labour and capital and total factor productivity (TFP) growth have been analysed. Moreover, paper
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Export and total factor productivity of EU new member states Croatian Operational Research Review Pub Date : 2020-01-01 Sasa Jaksic,Natasa Erjavec,Boris Cota
The common denominator of the European Union’s (EU) strategic long-run documents is the role of total factor productivity in fostering future growth and competitiveness. Hence, this article analyses the impact of total factor productivity on export competitiveness in EU new member states (NMS). As opposed to the stagnation of the growth of total factor productivity in the advanced economies, EU NMS
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Discrete self-organizing migration algorithm and p-location problems Croatian Operational Research Review Pub Date : 2020-01-01 Jaroslav Janacek,Marek Kvet
Mathematical modelling, and integer programming generally, has many practical applications in different areas of human life. Effective and fast solving approaches for various optimization problems play an important role in the decision-making process and therefore, big attention is paid to the development of many exact and approximate algorithms. This paper deals only with a special class of location
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Solving the four index fully fuzzy transportation problem Croatian Operational Research Review Pub Date : 2020-01-01 Manal Hedid,Rachid Zitouni
In this paper, we will solve the four index fully fuzzy transportation problem (\textit{FFTP$_{4}$}) with some adapted classical methods. All problem's data will be presented as fuzzy numbers. In order to defuzificate these data, we will use the ranking function procedure. Our method to solve the \textit{FFTP$_{4}$} composed of two phases; in the first one, we will use an adaptation of well-known algorithms
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Closed loop supply chain mathematical modeling considering lean agile resilient and green strategies Croatian Operational Research Review Pub Date : 2020-01-01 Masoud Mohammadzadeh,Mohammadali Sobhanallahi,Alireza Arshadi Khamseh
The supply chain management is planning, implementation and effective control of supply chain operations considered as a key factor for the competitiveness of the organizations. To make these targets, four management strategies of lean, agile, resilient and green have been separately proposed. Recently, studies have been performed with a consideration of these four strategies simultaneously named LARG
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The influence of integrated information systems on firm financial performance Croatian Operational Research Review Pub Date : 2020-01-01 Ivica Pervan,Ivana Dropulic
This study investigates the influence of integrated information systems (IIS) features on firm financial performance, more precisely return on asset (ROA). Research results, based on data obtained from 83 firms in 2018, confirmed the positive effect between IIS analytical capabilities on ROA, while IIS scope had negative effect on ROA. Estimated regression model revealed that IIS age and IIS implementation
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Trade-offs analysis of sustainability dimensions using integer-valued data envelopment analysis Croatian Operational Research Review Pub Date : 2020-01-01 Monireh Jahani Sayyad Noveiri,Sohrab Kordrostami
Conducting an in-depth exploration of trade-offs between sustainability aspects is a notable matter of taking decisions. Furthermore, there are many real world investigations that trade-offs and sustainability should be dealt with in the presence of desirable and undesirable materials while some of them accept integer amounts. Therefore, this study addresses trade-offs of sustainability dimensions
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Transshipment model considering environmental cost using mixed integer linear programming: Beef distribution problem Croatian Operational Research Review Pub Date : 2020-01-01 Januardi Januardi,Zakia Puspa Ramdhani,Rizky Novera Harnaningrum
The operational research paper in the transportation model nowadays is heading to the environmental issue. One of the famous operational research models is transshipment. Transshipment is an expanded model of transportation, in each distribution center between the start to the destination point. In this research, the transshipment model is integrated into an environmental function. The challenge is
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Utilizing a new approach for solving fully fuzzy linear programming problems Croatian Operational Research Review Pub Date : 2019-12-13 Hamiden Abdelwahed Khalifa, Institute of Statistical Studies and Research, Cairo University
This paper deals with fully fuzzy linear programming (FFLP) problem in which all parameters and variables are characterized by L-R fuzzy numbers. By a proposed approach, the FFLP problem is converted into the triple objective functions, and hence a single objective using the weighting method. Through this approach the problem is not transformed into the crisp linear programming problem (LPP) that is
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A new full-NT step interior-point method for circular cone optimization Croatian Operational Research Review Pub Date : 2019-12-13 Behrouz Kheirfam, Department of Applied Mathematics, Azarbaijan Shahid Madani University
We present a full step feasible interior-point algorithm for circular cone optimization using Euclidean Jordan algebras. The specificity of our method is to use a transformation similar to that introduced by Darvay and Takács for the centering equations of the central path of the linear optimization. The Nesterov and Todd symmetrization scheme is used to derive the search directions. The theoretical
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Optimality conditions for a bilevel optimization problem in terms of KKT multipliers and convexificators Croatian Operational Research Review Pub Date : 2019-12-13 Nazih Abderrazzak Gadhi, Department of Mathematics, Sidi Mohamed Ben Abdellah University, Lahoussine Lafhim, Department of Mathematics, Sidi Mohamed Ben Abdellah University
In this paper we investigate a bilevel optimization problem by using the optimistic approach. Under a non smooth generalized Guignard constraint qualification, due the optimal value reformulation, the necessary optimality conditions in terms of convexificators and Karush-Kuhn-Tucker (KKT) multipliers are given.
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Optimum cost analysis for an Geo/Geo/c/N feedback queue under synchronous working vacations and impatient customers Croatian Operational Research Review Pub Date : 2019-12-13 Lahcene Yahiaoui, Laboratory of Stochastic Models, Statistic and Applications, Dr Moulay Tahar, Amina Angelika Bouchentouf, Mokhtar Kadi, Laboratory of Mathematics, Djillali Liabes University of Sidi Bel Abbes, Laboratory of Stochastic Models, Statistic and Applications, Dr Moulay Tahar University of Saida
This paper concerns the cost optimisation analysis of a discrete-time finite-capacity multiserver queueing system with Bernoulli feedback, synchronous multiple and single working vacations, balking, and reneging during both busy and working vacation periods. A reneged customer can be retained in the system by employing certain persuasive mechanism for completion of service. Using recursive method,
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Improving the productivity of the copper mining process in the Chilean copper industry Croatian Operational Research Review Pub Date : 2019-12-13 Ivan Derpich, Industrial Engineering Department, Universidad de Santiago de Chile, Nicole Munoz, Andrea Espinoza, Industrial Engineering Department, Universidad de Santiago de Chile, Industrial Engineering Department, Universidad de Santiago de Chile
This paper presents a linear programming model used for decision making in the mining process of copper concentration from sulphide minerals. The developed model enables the decision maker to select the types of ore to be used in the mix to maximize the metallurgical recovery and the copper grade at the end of the process. The model is of the mixture model of minerals with added economic variables
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Generating $\alpha $-dense curves in non-convex sets to solve a class of non-smooth constrained global optimization Croatian Operational Research Review Pub Date : 2019-12-13 Mohamed Rahal, Department of Mathematics, Ferhat Abbas Setif 1, University of Setif, Ziadi Abdelkader, Ellaia Rachid, Department of Mathematics, Ferhat Abbas Setif 1, University of Setif, Laboratory of Study and Research for Applied Mathematics, Mohammadia School of Engineers
This paper deals with the dimensionality reduction approach to study multi-dimensional constrained global optimization problems where the objective function is non-differentiable over a general compact set $D$ of $\mathbb{R}^{n}$ and H\"{o}lderian. The fundamental principle is to provide explicitly a parametric representation $x_{i}=\ell _{i}(t),1\leq i\leq n$ of $\alpha $-dense curve $\ell_{\alpha
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The best, the worst and the semi-strong: optimal values in interval linear programming Croatian Operational Research Review Pub Date : 2019-12-13 Elif Garajová, Faculty of Mathematics and Physics, Charles University, Prague, Milan Hladik, Miroslav Rada, Faculty of Mathematics and Physics, Charles University, Prague, Faculty of Finance and Accounting, University of Economics, Prague
Interval programming provides one of the modern approaches to modeling optimization problems under uncertainty. Traditionally, the best and the worst optimal values determining the optimal value range are considered as the main solution concept for interval programs. In this paper, we present the concept of semi-strong values as a generalization of the best and the worst optimal values. Semi-strong
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Bi-level optimization based on fuzzy if-then rule Croatian Operational Research Review Pub Date : 2019-12-13 Vishnu Pratap Singh, Visvesvaraya National Institute of Technology Nagpur, Debjani Chakraborty, Indian Institute of Technology Kharagpur
A bi-level programming problem has been developed where the functional relationship linking decision variables and the objective functions of leader and follower are not utterly well known to us. Because of the uncertainty in practical life decision-making situation most of the time it is inconvenient to find the veracious relationship between the objective functions of leader, follower and the decision
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Forecasting portfolio-Value-at-Risk with mixed factorial hidden Markov models Croatian Operational Research Review Pub Date : 2019-12-13 Mohamed Saidane, College of Business and Economics, Qassim University
This paper is concerned with the statistical modeling of the latent dependence and comovement structures of multivariate financial data using a new approach based on mixed factorial hidden Markov models, and their applications in Value-at-Risk (VaR) valuation. This approach combines hidden Markov Models (HMM) with mixed latent factor models. The HMM generates a piece-wise constant state evolution process
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An inventory planning problem for time-varying linear demand and parabolic holding cost with salvage value Croatian Operational Research Review Pub Date : 2019-12-13 Pavan Kumar, Koneru Lakshmaiah Education Foundation Vaddeswaram, Andhra Pradesh
In this manuscript, a model is proposed for the inventory planning problem with items which deteriorate linearly with respect to time. The concept of salvage value for deteriorated items is considered and incorporated in this model. The solution procedure of proposed optimization model is illustrated by a couple of numerical examples. A convexity check of the average total cost function is performed
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Optimising the number of teaching and researching staff within Croatian higher education system Croatian Operational Research Review Pub Date : 2019-07-01 Branka Marasović,Ivana Tadić
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Do the most frequently used dynamic panel data estimators have the best performance in a small sample? A Monte Carlo comparison Croatian Operational Research Review Pub Date : 2019-07-01 Blanka Škrabić Perić
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Group efficiency analysis in decision processes: a data envelopment analysis approach Croatian Operational Research Review Pub Date : 2019-07-01 Mohsen Hekmatnia,Alireza Amirteimoori,Sohrab Kordrostami
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Identifying challenges and priorities for developing smart city initiatives and applications Croatian Operational Research Review Pub Date : 2019-07-01 Maja Čukušić, Faculty of Economics, Business and Tourism, University of Split, Split, Croatia, Mario Jadrić, Tea Mijač
The ubiquity of the technology and the availability of (open) data automatically collected in urban environments generate new opportunities, not only in tracking and managing public information services and resources, but also in the way we describe, implement and use these services. Although recent studies have proven that different smart city applications could improve some quality-of-life indicators
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Multi-objective programming methodology for solving economic diplomacy resource allocation problem Croatian Operational Research Review Pub Date : 2019-07-01 Danijel Mlinarić, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia, tunjo Perić, Josip Matejaš
Economic diplomacy is an important prerequisite for achieving the economic goals of any country. The issue is worth analysing from several aspects. Since there is a lack of literature in the field, this paper may be one of the first steps in this direction. It focuses on a clear exposition and explanation of multi-objective programming methodology and its connection with economic diplomacy at the micro-level
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The analysis of contextual variables affecting the efficiency of fiscal rules in the EU Croatian Operational Research Review Pub Date : 2019-07-01 Maja Mihelja Žaja, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia, Gordana Kordić, Margaret Gardijan Kedžo
Fiscal rules are among the cornerstones of macroeconomic policies in the European Union, both on the national and the supranational level. The importance of enacting and conducting the fiscal rules has become apparent after the expansion of public debts and budget deficits in the period of the global financial crisis. Besides the supranational rules, governments impose national fiscal rules in order
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Fuzzy expert system for land valuation in land consolidation processes Croatian Operational Research Review Pub Date : 2019-07-01 Jelena Kilić, Faculty of Civil Engineering, Architecture and Geodesy, University of Split, Split, Croatia, Katarina Rogulj, Nikša Jajac
Land fragmentation is one of the main obstacles to sustainable agricultural and rural development. The main goal of sustainable agriculture development is the production of food by the synergy of economic, social and ecological requirements. The ineffective and defective legislation and even its complete absence have led to land degradation globally. The most adaptable and globally recognized method
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External competitiveness and the role of fiscal policy: does fiscal austerity matter? Croatian Operational Research Review Pub Date : 2019-07-01 Boris Cota, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia, Nataša Erjavec, Velibor Mačkić, Faculty of Economics and Business, University of Zagreb, Zagreb, Croatia
During and after the sovereign debt crisis that hit most of the EU member states after the Great Recession, the question of the effectiveness of fiscal policy vis-à-vis ensuring sustainable growth rates and changing the economic structure of member states was highly debated. Accordingly, this paper investigates the effects of shocks in government purchases and net taxes on the export competitiveness
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Structural equation modeling in the acceptance of internet banking in the city of Split Croatian Operational Research Review Pub Date : 2019-07-01 Marija Vuković, Faculty of Economics, Business and Tourism, University of Split, Split, Croatia, Snježana Pivac, Duje Kundid
Electronic banking and electronic commerce have lately become an inevitable aspect of financial services. According to data about the percentage of users of Internet banking in Europe, Croatia is at the bottom of the list, with a low number of users. Thus, the question of the acceptance and use of this kind of technology arises. This research uses structural equation modeling to explore whether the
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Hypothetical extraction approach for measuring total economic effects of Croatian ICT sector Croatian Operational Research Review Pub Date : 2019-07-01 Damira Keček, University Center Varaždin, University North, Varaždin, Croatia, Valter Boljunčić, Davor Mikulić
The aim of this paper is to estimate total effects of the ICT sector to the growth and development of the Croatian economy. Direct, indirect and induced effects for the period 2010-2015 are expressed in terms of output, gross value added and employment. Output, gross value added and employment of ICT sector is estimated by using hypothetical extraction method. Empirical results of conducted analyzes