Investment decisions are usually made on the basis of the subjective judgments of experts subjected to the information gap during the preliminary stages of a project. As a consequence, a series of errors in risk prediction and/or decision-making will be generated leading to out of control investment and project failure. In this paper, the variable fuzzy set theory and intelligent algorithms int...

This article presents a comparative analysis of possible postponement strategies in a two-stage decision model where firms make three decisions: capacity investment, production (inventory) quantity, and price. Typically, investments are made while the demand curve is uncertain. The strategies differ in the timing of the operational decisions relative to the realization of uncertainty. We show h...

Nearly one in three security practitioners believe that the organization they work for under-funds information security efforts. Rational choice and economic models have been developed to help decision makers determine the optimal amount they should spend to protect a set of information assets. These models presume investment decisions are rationally made, despite long-standing behavioral and d...

The potential growth of railway traffic is expected to be substantial worldwide; hence, railway companies and agencies are looking for better tools to allocate their capital investments to capacity planning in the best possible way. This paper presents a comprehensive decision support framework with three stand-alone tools for strategic railway capacity planning: (1) “Alternatives Generator,” w...

Purpose: Healthcare costs have increased considerably over the past decades around the world. Major contributors to this trend are expensive medical technologies. In this research, we used a case study approach to understand how organizational and country level factors influence hospital investment behavior. Design and methodology: We developed a conceptual framework based upon decision theory ...