Related papers: Comparing Methodologies for Ranking Alternatives: …

Much research in systemic risk is focused on default contagion. While this demands an understanding of valuation, fewer articles specifically deal with the existence, the uniqueness, and the computation of equilibrium prices in structural…

Because the appropriate combination of existing elements and establishing coordination between them as a consequence of making the right decision to accomplish the intended objective is achieved, management is now one of the main pillars of…

In Multi-Criteria Decision Analysis, Rank Reversals are a serious problem that can greatly affect the results of a Multi-Criteria Decision Method against a particular set of alternatives. It is therefore useful to have a mechanism that…

Process Reward Modeling (PRM) is critical for complex reasoning and decision-making tasks where the accuracy of intermediate steps significantly influences the overall outcome. Existing PRM approaches, primarily framed as classification…

We develop evaluation methods for measuring the economic decision-making capabilities and tendencies of LLMs. First, we develop benchmarks derived from key problems in economics -- procurement, scheduling, and pricing -- that test an LLM's…

Financial performance management is at the core of business management and has historically relied on financial ratio analysis using Balance Sheet and Income Statement data to assess company performance as compared with competitors. Little…

This study considers the method to derive a ranking of alternatives by aggregating the rankings submitted by several individuals who may not evaluate all of them. The collection of subsets of alternatives that individuals (can) evaluate is…

Bayesian averaging over classification models allows the uncertainty of classification outcomes to be evaluated, which is of crucial importance for making reliable decisions in applications such as financial in which risks have to be…

Banks routinely use neural networks to make decisions. While these models offer higher accuracy, they are susceptible to adversarial attacks, a risk often overlooked in the context of event sequences, particularly sequences of financial…

We consider the recently introduced application of the Deck of Cards Method (DCM) to ordinal regression proposing two extensions related to two main research trends in Multiple Criteria Decision Aiding, namely scaling and ordinal regression…

Markov decision processes (MDPs) are standard models for probabilistic systems with non-deterministic behaviours. Mean payoff (or long-run average reward) provides a mathematically elegant formalism to express performance related…

The study is conducted to evaluate the job satisfaction among the administrative and teaching faculties in higher educational institutions. Many researchers have conducted studies to evaluate differences in job perception between teaching…

This paper introduces Bayesian frameworks for tackling various aspects of multi-criteria decision-making (MCDM) problems, leveraging a probabilistic interpretation of MCDM methods and challenges. By harnessing the flexibility of Bayesian…

Stochastic and soft optimal policies resulting from entropy-regularized Markov decision processes (ER-MDP) are desirable for exploration and imitation learning applications. Motivated by the fact that such policies are sensitive with…

The fundamental problem underlying all multi-criteria decision analysis (MCDA) problems is that of dominance between any two alternatives: "Given two alternatives A and B, each described by a set criteria, is A preferred to B with respect…

Selecting from or ranking a set of candidates variables in terms of their capacity for predicting an outcome of interest is an important task in many scientific fields. A variety of methods for variable selection and ranking have been…

In robust Markov decision processes (MDPs), the uncertainty in the transition kernel is addressed by finding a policy that optimizes the worst-case performance over an uncertainty set of MDPs. While much of the literature has focused on…

Banks are important for the development of economies in any financial ecosystem through consumer and business loans. Lending, however, presents risks; thus, banks have to determine the applicant's financial position to reduce the…

The Best-Worst Method (BWM) is a well-known Multi-Criteria Decision-Making (MCDM) method. This article deals with the multiplicative model of BWM. We first formulate an optimization model that is equivalent to the existing multiplicative…

Bond rating Transition Probability Matrices (TPMs) are built over a one-year time-frame and for many practical purposes, like the assessment of risk in portfolios or the computation of banking Capital Requirements (e.g. the new IFRS 9…