Abstract: In the era of big data, public investors are faced with more complicated information related to investment decisions than ever before. To survive in the fierce competition, it has become increasingly urgent for investors to combine multi-source knowledge and evaluate the companies’ true value efficiently. For this, a rule-based ontology reasoning method is proposed to support steel companies’ value assessment. Considering the delay in financial disclosure and based on cost-benefit analysis, this paper introduces the supply chain enterprises financial analysis and constructs the ontology model used to value the value of steel company. In addition, domain knowledge is formally expressed with the help of Web Ontology Language (OWL) language and SWRL (Semantic Web Rule Language) rules. Finally, a case study on a steel company in China proved the effectiveness of the method we proposed.
Abstract: Recently, the Italian government has approved a new law for public contracts and has been laying the groundwork for restarting a planning phase. The government has adopted the indications given by the European Commission regarding the estimation of the external costs within the Cost-Benefit Analysis, and has been approved the ‘Guidelines for assessment of Investment Projects’. In compliance with the new Italian law, the aim of this research was to perform a feasibility study applying quantitative methods regarding the revamping of an Italian tourist railway line. A Cost-Benefit Analysis was performed starting from the quantification of the passengers’ demand potentially interested in using the revamped rail services. The benefits due to the external costs reduction were also estimated (quantified) in terms of variations (with respect to the not project scenario): climate change, air pollution, noises, congestion, and accidents. Estimations results have been proposed in terms of the Measure of Effectiveness underlying a positive Net Present Value equal to about 27 million of Euros, an Internal Rate of Return much greater the discount rate, a benefit/cost ratio equal to 2 and a PayBack Period of 15 years.
Abstract: A smart city project embraces benefits and costs which can be classified under direct and indirect categories. Externalities come into the picture, but they are often difficult to quantify. Despite this barrier, policy makers need to carry out cost-benefit analysis to justify the huge investments needed to make a city smart. The recent trend is towards the engagement of the private sector to utilize their resources and expertise, especially in the Information and Communication Technology (ICT) areas, where innovations blossom. This study focuses on the identification of costs (on a life cycle basis) and benefits associated with smart city project developments based on a comprehensive literature review and case studies, where public-private partnerships would warrant consideration, the related costs and benefits are highlighted. The findings will be useful for policy makers of cities.
Abstract: As a reaction to current challenges in factory planning, many companies think about introducing factory standards to lower planning times and decrease planning costs. If these factory standards are set-up with a high level of modularity, they are defined as modular factory systems. This paper deals with the main current problems in the application of modular factory systems in practice and presents a solution approach with its basic models. The methodology is based on methods from factory planning but also uses the tools of other disciplines like product development or technology management to deal with the high complexity, which the development of modular factory systems implies. The four basic models that such a methodology has to contain are introduced and pointed out.
Abstract: The paper analyses the role of small farms in socio-economic development of agriculture in Georgia and evaluates modern concepts regarding the development of the farms of this size. The scale of farms in Georgia is studied and the major problems are revealed. Opportunities and directions of diversification are discussed from the point of increasing the share of Georgian grapes and wine both on domestic and international markets. It’s shown that the size of vineyard areas is directly reflected on the grape and wine production potential. Accordingly, vineyard area and grape production dynamics is discussed. Comparative analysis of small farms in Georgia and Italy is made and the major differences are identified. Diversification is evaluated based on cost-benefit analysis on the one hand and on the other hand, from the point of promoting economic activities, protecting nature and rural area development. The paper provides proofs for the outcomes of diversification. The key hindering factors for the development of small farms are identified and corresponding conclusions are made, based on which recommendations for diversification of the farms of this size are developed.
Abstract: The present study explains the somatic marker theory of Antonio Damasio, which indicates that when making a decision, the stored or possible future scenarios (future memory) images allow people to feel for a moment what would happen when they make a choice, and how this is emotionally marked. This process can be conscious or unconscious. The development of new Neuromarketing techniques such as functional magnetic resonance imaging (fMRI), carries a greater understanding of how the brain functions and consumer behavior. In the results observed in different studies using fMRI, the evidence suggests that the somatic marker and future memories influence the decision-making process, adding a positive or negative emotional component to the options. This would mean that all decisions would involve a present emotional component, with a rational cost-benefit analysis that can be performed later.
Abstract: Strategic investment decisions are characterized by
high innovation potential and long-term effects on the
competitiveness of enterprises. Due to the uncertainty and risks
involved in this complex decision making process, the need arises for
well-structured support activities. A method that considers cost and
the long-term added value is the cost-benefit effectiveness estimation.
One of those methods is the “profitability estimation focused on
benefits – PEFB”-method developed at the Institute of Management
Cybernetics at RWTH Aachen University. The method copes with
the challenges associated with strategic investment decisions by
integrating long-term non-monetary aspects whilst also mapping the
chronological sequence of an investment within the organization’s
target system. Thus, this method is characterized as a holistic
approach for the evaluation of costs and benefits of an investment.
This participation-oriented method was applied to business
environments in many workshops. The results of the workshops are a
library of more than 96 cost aspects, as well as 122 benefit aspects.
These aspects are preprocessed and comparatively analyzed with
regards to their alignment to a series of risk levels. For the first time,
an accumulation and a distribution of cost and benefit aspects
regarding their impact and probability of occurrence are given. The
results give evidence that the PEFB-method combines precise
measures of financial accounting with the incorporation of benefits.
Finally, the results constitute the basics for using information
technology and data science for decision support when applying
within the PEFB-method.
Abstract: This study aims to investigate the possibility of crime
prevention through CCTV by analyzing the appropriateness of the
CCTV location, whether it is installed in the hotspot of crime-prone
areas, and exploring the crime prevention effect and transition effect.
The real crime and CCTV locations of case city were converted into
the spatial data by using GIS. The data was analyzed by hotspot
analysis and weighted displacement quotient (WDQ). As study
methods, it analyzed existing relevant studies for identifying the trends
of CCTV and crime studies based on big data from 1800 to 2014 and
understanding the relation between CCTV and crime. Second, it
investigated the current situation of nationwide CCTVs and analyzed
the guidelines of CCTV installation and operation to draw attention to
the problems and indicating points of CCTV use. Third, it investigated
the crime occurrence in case areas and the current situation of CCTV
installation in the spatial aspects, and analyzed the appropriateness and
effectiveness of CCTV installation to suggest a rational installation of
CCTV and the strategic direction of crime prevention. The results
demonstrate that there was no significant effect in the installation of
CCTV on crime prevention in the case area. This indicates that CCTV
should be installed and managed in a more scientific way reflecting
local crime situations. In terms of CCTV, the methods of spatial
analysis such as GIS, which can evaluate the installation effect, and the
methods of economic analysis like cost-benefit analysis should be
developed. In addition, these methods should be distributed to local
governments across the nation for the appropriate installation of
CCTV and operation. This study intended to find a design guideline of
the optimum CCTV installation. In this regard, this study is
meaningful in that it will contribute to the creation of a safe city.
Abstract: The international society focuses on the environment
protection and natural energy sources control for the global
cooperation against weather change and sustainable growth. The study
presents the overview of the water shortage status and the necessity of wastewater reuse facility in military facilities and for the possibility of
the introduction, compares the economics by means of cost-benefit
analysis. The military features such as the number of users of military barracks and the water use were surveyed by the design principles by
facility types, the application method of wastewater reuse facility was selected, the feed water, its application and the volume of reuse volume were defined and the expectation was estimated, confirming
the possibility of introducing a wastewater reuse possibility by means of cost-benefit analysis.
Abstract: The use of contour strips of perennial vegetation with
bio-fuel potential can improve surface water quality by reducing
NO3-N and sediment outflow from cropland to surface water-bodies.
It also has economic benefits of producing ethanol. In this study,
The Soil and Water Assessment Tool (SWAT) model was applied to
a watershed in Iowa, USA to examine the effectiveness of contour
strips of switch grass in reducing the NO3-N outflows from crop
fields to rivers or lakes. Numerical experiments were conducted to
identify potential subbasins in the watershed that have high water
quality impact, and to examine the effects of strip size on NO3-N
reduction under various meteorological conditions, i.e. dry, average
and wet years. Useful information was obtained for the evaluation of
economic feasibility of growing switch grass for bio-fuel in contour
strips. The results can assist in cost-benefit analysis and decisionmaking
in best management practices for environmental protection.
Abstract: This evaluation of land supply system performance in
China shall examine the combination of government functions and
national goals in order to perform a cost-benefit analysis of system
results. From the author's point of view, it is most productive to
evaluate land supply system performance at moments of system
transformation for the following reasons. The behavior and
input-output change of beneficial results at different times can be
observed when the system or policy changes and system performance
can be evaluated through a cost-benefit analysis during the process of
system transformation. Moreover, this evaluation method can avoid
the influence of land resource endowment. Different land resource
endowment methods and different economy development periods
result in different systems. This essay studies the contents, principles
and methods of land supply system performance evaluation. Taking
Beijing as an example, this essay optimizes and classifies the land
supply index, makes a quantitative evaluation of land supply system
performance through principal component analysis (PCA), and finally
analyzes the factors that influence land supply system performance at
times of system transformation.
Abstract: Successful public-private-partnership (PPP)
implementation can not be achieved without the active participation of
private sector companies. This paper examines the decision-making of
private sector companies in public works delivered by the PPP model
on the basis of social responsibility theory. It proposes that private
sector companies should indentify objectives of entering into PPP
projects, and shoulder relevant social responsibilities, while a
minimum return should also be guaranteed in their favor, so as to
compensate for their assumed risk and support them to take on
responsibilities in the future. The paper also gives a calculation
regarding the appropriate scale and reasonable degree of private sector
involvement in PPP projects through the cost-benefit analysis in a
specific case study, with the purpose to guide the private sector
companies to create a cooperation environment resembling
“symbiosis" and facilitate the smooth implementation of public works
delivered by the PPP model.
Abstract: There are three distinct stages in the evolution of
economic thought, namely:
1. in the first stage, the major concern was to accelerate
economic growth with increased availability of material
goods, especially in developing economies with very low
living standards, because poverty eradication meant faster
economic growth.
2. in the second stage, economists made distinction between
growth and development. Development was seen as going
beyond economic growth, and bringing certain changes in
the structure of the economy with more equitable
distribution of the benefits of growth, with the growth
coming automatic and sustained.
3. the third stage is now reached. Our concern is now with
“sustainable development", that is, development not only
for the present but also of the future.
Thus the focus changed from “sustained growth" to “sustained
development". Sustained development brings to the fore the long
term relationship between the ecology and economic development.
Since the creation of UNEP in 1972 it has worked for
development without destruction for environmentally sound and
sustained development. It was realised that the environment cannot
be viewed in a vaccum, it is not separate from development, nor is it
competing. It suggested for the integration of the environment with
development whereby ecological factors enter development planning,
socio-economic policies, cost-benefit analysis, trade, technology
transfer, waste management, educational and other specific areas.
Industrialisation has contributed to the growth of economy of
several countries. It has improved the standards of living of its people
and provided benefits to the society. It has also created in the process
great environmental problems like climate change, forest destruction
and denudation, soil erosion and desertification etc.
On the other hand, industry has provided jobs and improved the
prospects of wealth for the industrialists. The working class
communities had to simply put up with the high levels of pollution in
order to keep up their jobs and also to save their income.
There are many roots of the environmental problem. They may be
political, economic, cultural and technological conditions of the
modern society. The experts concede that industrial growth lies
somewhere close to the heart of the matter. Therefore, the objective
of this paper is not to document all roots of an environmental crisis
but rather to discuss the effects of industrial growth and
development.
We have come to the conclusion that although public intervention
is often unnecessary to ensure that perfectly competitive markets will
function in society-s best interests, such intervention is necessary
when firms or consumers pollute.
Abstract: Contour filter strips planted with perennial vegetation
can be used to improve surface and ground water quality by reducing
pollutant, such as NO3-N, and sediment outflow from cropland to a
river or lake. Meanwhile, the filter strips of perennial grass with biofuel
potentials also have economic benefits of producing ethanol. In
this study, The Soil and Water Assessment Tool (SWAT) model was
applied to the Walnut Creek Watershed to examine the effectiveness
of contour strips in reducing NO3-N outflows from crop fields to the
river or lake. Required input data include watershed topography,
slope, soil type, land-use, management practices in the watershed and
climate parameters (precipitation, maximum/minimum air
temperature, solar radiation, wind speed and relative humidity).
Numerical experiments were conducted to identify potential
subbasins in the watershed that have high water quality impact, and
to examine the effects of strip size and location on NO3-N reduction
in the subbasins under various meteorological conditions (dry,
average and wet). Variable sizes of contour strips (10%, 20%, 30%
and 50%, respectively, of a subbasin area) planted with perennial
switchgrass were selected for simulating the effects of strip size and
location on stream water quality. Simulation results showed that a
filter strip having 10%-50% of the subbasin area could lead to 55%-
90% NO3-N reduction in the subbasin during an average rainfall
year. Strips occupying 10-20% of the subbasin area were found to be
more efficient in reducing NO3-N when placed along the contour
than that when placed along the river. The results of this study can
assist in cost-benefit analysis and decision-making in best water
resources management practices for environmental protection.