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Research on the Construction of Teaching System about BIM Series Courses of Engineering Economics and Management Based on Bayesian Network

General engineering economics, replacement analysis of mutually exclusive projects of unequal lives using kelly specific real option criterion.

This paper presents a model to address the uncertainty inherent in replacement problems, whereby a firm must select between mutually exclusive projects of unequal lifespans by applying the Kelly criterion (which is not well known to the engineering economics community) within a binomial lattice option-pricing environment. Assuming that only the interest rate, among many factors, is uncertain, Brown and Davis performed an economic analysis of this problem by employing a real option-pricing method and argued that their model yields results opposite to those yielded by the traditional approach. However, the results yielded by the model proposed herein are consistent with those by the traditional approach, unlike Brown and Davis’s model. The conclusion is that since the investment time horizon is infinite, a firm rationale pertaining to the selection of the best method for the investment problem of such types does not exist.

Fuzzy Logical Algebra and Study of the Effectiveness of Medications for COVID-19

A fuzzy logical algebra has diverse applications in various domains such as engineering, economics, environment, medicine, and so on. However, the existing techniques in algebra do not apply to delta-algebra. Therefore, the purpose of this paper was to investigate new types of cubic soft algebras and study their applications, the representation of cubic soft sets with δ-algebras, and new types of cubic soft algebras, such as cubic soft δ-subalgebra based on the parameter λ (λ-CSδ-SA) and cubic soft δ-subalgebra (CSδ-SA) over η. This study explains why the P-union is not really a soft cubic δ-subalgebra of two soft cubic δ-subalgebras. We also reveal that any R/P-cubic soft subsets of (CSδ-SA) is not necessarily (CSδ-SA). Furthermore, we present the required conditions to prove that the R-union of two members is (CSδ-SA) if each one of them is (CSδ-SA). To illustrate our assumptions, the proposed (CSδ-SA) is applied to study the effectiveness of medications for COVID-19 using the python program.

Facing the complexity of the economy: an opportunity for the new alliance between economics and engineering

AbstractIn Forging a new alliance between economics and engineering, Sergio Mariotti explores the relationship between economics and engineering. The interactions between economics and engineering is a question rather than trivial and Mariotti faces the problem, firstly, from an historical perspective and, secondly, by identifying the paradigms for the economics–engineering nexus. Three paradigms are proposed, i.e., economics for engineering, economics and engineering, economics as engineering. They offer the opportunity to open new vistas on the future of the relationships between economics and engineering, in particular for facing the complexity of the economy.

Design, systems approaches, and the engineering-economics nexus

Engineering, economics, heidegger … and mariotti: a note, robust approach for optimized path selection in monarch butterfly optimization.

Nature Inspired Computing or (NIC) strives to develop new computing technologies by observing how nature can inspired to solve complex problems under various environmental conditions. This has produced unconventional research in new fields such as neural networks, swarm intelligence, evolutionary computing, and artificial immune systems. NIC technology is used in almost every branch of physics, biology, engineering, economics and even management. In this paper, one of the nature-inspired approach namely Monarch Butterfly Optimization (MBO)is used for modifying the chromosome parameter in it. The new conditional path selection criteria are developed for the movement of individual subpopulation along with the amplitude parameter. Ackley function is implemented by using conditional path selection mathematical model and the effect of amplitude parameter with adjusting ratio has been identified. The results show better performance among the conditional path selection criteria in terms of route optimization selection.

In the Path of Vydūnas: Moral Values and Social Engineering as the Tool for the Welfare State Creation

The article analyses the relationship between democracy and technocracy invoking Lithuanian philosopher Vydūnas’ view on the role of moral values playing in the state. Investigating projects directed to the welfare state creation the author asks how much these projects are technocratic in the narrow sense – performing with the help of knowledge of nature sciences, engineering, economics and other, and what role in these projects moral values play. The author distinguishes two types of projects – technocracy in the narrow and in the wide sense. The latter is defined as social engineering based on the interdisciplinary discussion of experts on the questions linked with moral values. The main theses defended are the following: democracy ant technocracy as the methods of governance should not be contrasted; technocracy could not replace democracy which is the system defending freedom of the individual person; moral ideals (freedom, equality, justice, seeking of common good) are the basic guide in the sphere of values for the social engineering directed to the creation of welfare state.

Course Strategy: Executing High-Enrollment Engineering Economics Online

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Advances in Engineering Economics

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  • Published Papers

A special issue of Journal of Risk and Financial Management (ISSN 1911-8074).

Deadline for manuscript submissions: closed (1 July 2023) | Viewed by 10238

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economics and engineering research paper

Dear Colleagues,

JRFM is currently accepting submissions to a Special Issue on “Advances in Engineering Economics” covering all areas of engineering economics, broadly defined.

The main objective of this Special Issue is to publish papers dealing with the analysis of industrial and engineering projects, and, in general, capital asset investments. We welcome methodological developments as well as novel applications and case studies in a number of areas, including, but not limited to:

  • Economic decision analysis;
  • Project financing transactions;
  • Capital investment analysis;
  • Abandonment and replacement decisions;
  • Measures of worth;
  • Rate-of-return analysis;
  • Cost of capital;
  • Project ranking;
  • Real options analysis;
  • Research and development;
  • Public policy analysis;
  • Public–private partnership;
  • Production economics;
  • Multi-criteria decision making;
  • Cost estimation;
  • Cost accounting;
  • Sustainability investment;
  • Risk management;
  • Risk and uncertainty;
  • Simulation analysis;
  • Sensitivity analysis.

Given the interdisciplinary nature of engineering economics, we also welcome papers from accounting scholars, finance scholars, operational researchers, financial mathematicians, and researchers lying at the intersection of engineering, management, finance, or accounting, with the understanding that the focus of the paper involves developing and analyzing the economic and financial consequences of investment decisions.

We seek paper submissions that have one or more of the following features:

  • Strengthen the theoretical base of engineering economics;
  • Present new approaches and techniques for project appraisal and investment decisions;
  • Use mathematical modeling for evaluating projects in a novel way;
  • Illustrate analyses using significant case studies;
  • Evaluate techniques used by firms for accounting or the financial analysis of capital investments by means of empirical studies.

For those interested in submitting a manuscript, please see below for further instructions. We look forward to reviewing your work.

Sincerely, Prof. Dr. Carlo Alberto Magni Prof. Dr. Joseph C. Hartman Guest Editors

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website . Once you are registered, click here to go to the submission form . Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

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  • engineering economics
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Published Papers (4 papers)

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Engineering Economics

economics and engineering research paper

Subject Area and Category

  • Business and International Management
  • Economics and Econometrics
  • Engineering (miscellaneous)

Publication type

13922785, 20295839

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economics and engineering research paper

The set of journals have been ranked according to their SJR and divided into four equal groups, four quartiles. Q1 (green) comprises the quarter of the journals with the highest values, Q2 (yellow) the second highest values, Q3 (orange) the third highest values and Q4 (red) the lowest values.

CategoryYearQuartile
Business and International Management2009Q2
Business and International Management2010Q1
Business and International Management2011Q1
Business and International Management2012Q1
Business and International Management2013Q1
Business and International Management2014Q1
Business and International Management2015Q2
Business and International Management2016Q2
Business and International Management2017Q2
Business and International Management2018Q2
Business and International Management2019Q3
Business and International Management2020Q3
Business and International Management2021Q2
Business and International Management2022Q2
Business and International Management2023Q2
Economics and Econometrics2009Q3
Economics and Econometrics2010Q2
Economics and Econometrics2011Q2
Economics and Econometrics2012Q2
Economics and Econometrics2013Q2
Economics and Econometrics2014Q2
Economics and Econometrics2015Q2
Economics and Econometrics2016Q3
Economics and Econometrics2017Q3
Economics and Econometrics2018Q3
Economics and Econometrics2019Q3
Economics and Econometrics2020Q3
Economics and Econometrics2021Q3
Economics and Econometrics2022Q3
Economics and Econometrics2023Q3
Engineering (miscellaneous)2009Q2
Engineering (miscellaneous)2010Q1
Engineering (miscellaneous)2011Q1
Engineering (miscellaneous)2012Q1
Engineering (miscellaneous)2013Q1
Engineering (miscellaneous)2014Q1
Engineering (miscellaneous)2015Q1
Engineering (miscellaneous)2016Q2
Engineering (miscellaneous)2017Q2
Engineering (miscellaneous)2018Q2
Engineering (miscellaneous)2019Q2
Engineering (miscellaneous)2020Q2
Engineering (miscellaneous)2021Q2
Engineering (miscellaneous)2022Q2
Engineering (miscellaneous)2023Q2

The SJR is a size-independent prestige indicator that ranks journals by their 'average prestige per article'. It is based on the idea that 'all citations are not created equal'. SJR is a measure of scientific influence of journals that accounts for both the number of citations received by a journal and the importance or prestige of the journals where such citations come from It measures the scientific influence of the average article in a journal, it expresses how central to the global scientific discussion an average article of the journal is.

YearSJR
20090.325
20100.978
20110.697
20120.533
20130.609
20140.557
20150.479
20160.401
20170.341
20180.288
20190.292
20200.303
20210.366
20220.389
20230.424

Evolution of the number of published documents. All types of documents are considered, including citable and non citable documents.

YearDocuments
200858
200956
201055
201152
201253
201345
201462
201558
201660
201755
201857
201955
202049
202140
202239
202340

This indicator counts the number of citations received by documents from a journal and divides them by the total number of documents published in that journal. The chart shows the evolution of the average number of times documents published in a journal in the past two, three and four years have been cited in the current year. The two years line is equivalent to journal impact factor ™ (Thomson Reuters) metric.

Cites per documentYearValue
Cites / Doc. (4 years)20080.000
Cites / Doc. (4 years)20092.224
Cites / Doc. (4 years)20103.553
Cites / Doc. (4 years)20112.083
Cites / Doc. (4 years)20121.317
Cites / Doc. (4 years)20131.199
Cites / Doc. (4 years)20141.288
Cites / Doc. (4 years)20151.231
Cites / Doc. (4 years)20161.128
Cites / Doc. (4 years)20171.018
Cites / Doc. (4 years)20181.243
Cites / Doc. (4 years)20191.330
Cites / Doc. (4 years)20201.559
Cites / Doc. (4 years)20211.681
Cites / Doc. (4 years)20222.194
Cites / Doc. (4 years)20232.951
Cites / Doc. (3 years)20080.000
Cites / Doc. (3 years)20092.224
Cites / Doc. (3 years)20103.553
Cites / Doc. (3 years)20112.083
Cites / Doc. (3 years)20121.374
Cites / Doc. (3 years)20131.088
Cites / Doc. (3 years)20141.253
Cites / Doc. (3 years)20151.281
Cites / Doc. (3 years)20161.042
Cites / Doc. (3 years)20171.022
Cites / Doc. (3 years)20181.225
Cites / Doc. (3 years)20191.297
Cites / Doc. (3 years)20201.491
Cites / Doc. (3 years)20211.876
Cites / Doc. (3 years)20222.486
Cites / Doc. (3 years)20233.383
Cites / Doc. (2 years)20080.000
Cites / Doc. (2 years)20092.224
Cites / Doc. (2 years)20103.553
Cites / Doc. (2 years)20112.414
Cites / Doc. (2 years)20121.234
Cites / Doc. (2 years)20131.086
Cites / Doc. (2 years)20141.163
Cites / Doc. (2 years)20151.168
Cites / Doc. (2 years)20160.983
Cites / Doc. (2 years)20171.000
Cites / Doc. (2 years)20181.078
Cites / Doc. (2 years)20191.259
Cites / Doc. (2 years)20201.545
Cites / Doc. (2 years)20211.962
Cites / Doc. (2 years)20222.843
Cites / Doc. (2 years)20233.557

Evolution of the total number of citations and journal's self-citations received by a journal's published documents during the three previous years. Journal Self-citation is defined as the number of citation from a journal citing article to articles published by the same journal.

CitesYearValue
Self Cites20080
Self Cites2009101
Self Cites2010219
Self Cites2011205
Self Cites201289
Self Cites201337
Self Cites201464
Self Cites201557
Self Cites201632
Self Cites201732
Self Cites201837
Self Cites201930
Self Cites202018
Self Cites202118
Self Cites202215
Self Cites202337
Total Cites20080
Total Cites2009129
Total Cites2010405
Total Cites2011352
Total Cites2012224
Total Cites2013174
Total Cites2014188
Total Cites2015205
Total Cites2016172
Total Cites2017184
Total Cites2018212
Total Cites2019223
Total Cites2020249
Total Cites2021302
Total Cites2022358
Total Cites2023433

Evolution of the number of total citation per document and external citation per document (i.e. journal self-citations removed) received by a journal's published documents during the three previous years. External citations are calculated by subtracting the number of self-citations from the total number of citations received by the journal’s documents.

CitesYearValue
External Cites per document20080
External Cites per document20090.483
External Cites per document20101.632
External Cites per document20110.870
External Cites per document20120.828
External Cites per document20130.856
External Cites per document20140.827
External Cites per document20150.925
External Cites per document20160.848
External Cites per document20170.844
External Cites per document20181.012
External Cites per document20191.122
External Cites per document20201.383
External Cites per document20211.764
External Cites per document20222.382
External Cites per document20233.094
Cites per document20080.000
Cites per document20092.224
Cites per document20103.553
Cites per document20112.083
Cites per document20121.374
Cites per document20131.088
Cites per document20141.253
Cites per document20151.281
Cites per document20161.042
Cites per document20171.022
Cites per document20181.225
Cites per document20191.297
Cites per document20201.491
Cites per document20211.876
Cites per document20222.486
Cites per document20233.383

International Collaboration accounts for the articles that have been produced by researchers from several countries. The chart shows the ratio of a journal's documents signed by researchers from more than one country; that is including more than one country address.

YearInternational Collaboration
20081.72
20095.36
201010.91
20117.69
20129.43
201320.00
201416.13
201520.69
201625.00
201718.18
201828.07
201934.55
202038.78
202137.50
202223.08
202325.00

Not every article in a journal is considered primary research and therefore "citable", this chart shows the ratio of a journal's articles including substantial research (research articles, conference papers and reviews) in three year windows vs. those documents other than research articles, reviews and conference papers.

DocumentsYearValue
Non-citable documents20080
Non-citable documents20091
Non-citable documents20101
Non-citable documents20111
Non-citable documents20120
Non-citable documents20130
Non-citable documents20140
Non-citable documents20150
Non-citable documents20160
Non-citable documents20170
Non-citable documents20180
Non-citable documents20190
Non-citable documents20200
Non-citable documents20210
Non-citable documents20220
Non-citable documents20230
Citable documents20080
Citable documents200957
Citable documents2010113
Citable documents2011168
Citable documents2012163
Citable documents2013160
Citable documents2014150
Citable documents2015160
Citable documents2016165
Citable documents2017180
Citable documents2018173
Citable documents2019172
Citable documents2020167
Citable documents2021161
Citable documents2022144
Citable documents2023128

Ratio of a journal's items, grouped in three years windows, that have been cited at least once vs. those not cited during the following year.

DocumentsYearValue
Uncited documents20080
Uncited documents200915
Uncited documents201021
Uncited documents201143
Uncited documents201266
Uncited documents201380
Uncited documents201458
Uncited documents201567
Uncited documents201680
Uncited documents201785
Uncited documents201865
Uncited documents201976
Uncited documents202078
Uncited documents202152
Uncited documents202227
Uncited documents202322
Cited documents20080
Cited documents200943
Cited documents201093
Cited documents2011126
Cited documents201297
Cited documents201380
Cited documents201492
Cited documents201593
Cited documents201685
Cited documents201795
Cited documents2018108
Cited documents201996
Cited documents202089
Cited documents2021109
Cited documents2022117
Cited documents2023106

Evolution of the percentage of female authors.

YearFemale Percent
200858.24
200956.84
201058.59
201154.72
201250.42
201343.88
201441.33
201547.06
201655.03
201744.68
201846.43
201947.65
202051.37
202154.47
202256.52
202350.48

Evolution of the number of documents cited by public policy documents according to Overton database.

DocumentsYearValue
Overton20080
Overton20090
Overton20100
Overton20114
Overton20124
Overton20132
Overton20143
Overton20152
Overton20164
Overton20171
Overton20183
Overton20190
Overton20200
Overton20211
Overton20220
Overton20230

Evoution of the number of documents related to Sustainable Development Goals defined by United Nations. Available from 2018 onwards.

DocumentsYearValue
SDG201824
SDG201925
SDG202024
SDG202121
SDG202222
SDG202324

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Data Engineering for Cognitive Economics

Cognitive economics studies imperfect information and decision-making mistakes. A central scientific challenge is that these can’t be identified in standard choice data. Overcoming this challenge calls for data engineering, in which new data forms are introduced to separately identify preferences, beliefs, and other model constructs. I present applications to traditional areas of economic research, such as wealth accumulation, earnings, and consumer spending. I also present less traditional applications to assessment of decision-making skills, and to human-AI interactions. Methods apply both to individual and to collective decisions. I make the case for broader application of data engineering beyond cognitive economics. It allows symbiotic advances in modeling and measurement. It cuts across existing boundaries between disciplines and styles of research.

Previously circulated as “Economic Data Engineering.” Forthcoming Journal of Economic Literature. Deep thanks to Daniel Martin, Stefan Bucher, and Soren Leth-Petersen for helping me conceptualize the broad sweep and fine details of this paper, as well as four anonymous referees, and particularly the editors, Steven Durlauf and David Romer, for helping me narrow focus and sharpen the presentation. I thank also Alona Bach, Ernst Fehr, Danny Goroff, Markus Reinhard, Mike Woodford, and participants in the Sloan-NOMIS Program on the Cognitive Foundations of Economic Behavior for supporting the broader push toward interdisciplinary research. Finally, I thank the Alfred P. Sloan Foundation for Grant G-2023-19660 which supports research on Cognitive Economics at Work. The views expressed herein are those of the author and do not necessarily reflect the views of the National Bureau of Economic Research.

MARC RIS BibTeΧ

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Economic Surveillance using Corporate Text

Working Paper 2024-022A by Tarek Hassan, Stephan Hollander, Aakash Kalyani, Markus Schwedeler, and Laurence van Lent

Full order of authors: Tarek A. Hassan, Stephan Hollander, Aakash Kalyani, Laurence van Lent, Markus Schwedeler, and Ahmed Tahoun. This article applies simple methods from computational linguistics to analyze unstructured corporate texts for economic surveillance. We apply text-as-data approaches to earnings conference call transcripts, patent texts, and job postings to uncover unique insights into how markets and firms respond to economic shocks, such as a nuclear disaster or a geopolitical event---insights that often elude traditional data sources. This method enhances our ability to extract actionable intelligence from textual data, thereby aiding policy-making and strategic corporate decisions. By integrating computational linguistics into the analysis of economic shocks, our study opens new possibilities for real-time economic surveillance and offers a more nuanced understanding of firm-level reactions in volatile economic environments.

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https://doi.org/10.20955/wp.2024.022

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economics and engineering research paper

  • Ruxin Zhao   ORCID: orcid.org/0000-0002-6810-2631 1 ,
  • Wei Wang 1 ,
  • Tingting Zhang 1 ,
  • Chang Liu 2 ,
  • Lixiang Fu 1 ,
  • Jiajie Kang 1 ,
  • Hongtan Zhang 1 ,
  • Yang Shi 1 &
  • Chao Jiang 1  

Differential evolution (DE) algorithm is a classical natural-inspired optimization algorithm which has a good. However, with the deepening of research, some researchers found that the quality of the candidate solution of the population in the differential evolution algorithm is poor and its global search ability is not enough when solving the global optimization problem. Therefore, in order to solve the above problems, we proposed an adaptive differential evolution algorithm based on the data processing method and a new mutation strategy (ADEDPMS). In this paper, the data preprocessing method is implemented by k -means clustering algorithm, which is used to divide the initial population into multiple clusters according to the average value of fitness, and select candidate solutions in each cluster according to different proportions. This method improves the quality of candidate solutions of the population to a certain extent. In addition, in order to solve the problem of insufficient global search ability in differential evolution algorithm, we also proposed a new mutation strategy, which is called “DE/current-to- \({p}_{1}\) best& \({p}_{2}\) best”. This strategy guides the search direction of the differential evolution algorithm by selecting individuals with good fitness, so that its search range is in the most promising candidate solution region, and indirectly increases the population diversity of the algorithm. We also proposed an adaptive parameter control method, which can effectively balance the relationship between the exploration process and the exploitation process to achieve the best performance. In order to verify the effectiveness of the proposed algorithm, the ADEDPMS is compared with five optimization algorithms of the same type in the past three years, which are AAGSA, DFPSO, HGASSO, HHO and VAGWO. In the simulation experiment, 6 benchmark test functions and 4 engineering example problems are used, and the convergence accuracy, convergence speed and stability are fully compared. We used ADEDPMS to solve the dynamic economic dispatch (ED) problem with generator constraints. It is compared with the optimization algorithms used to solve the ED problem in the last three years which are AEFA, AVOA, OOA, SCA and TLBO. The experimental results show that compared with the five latest optimization algorithms proposed in the past three years to solve benchmark functions, engineering example problems and the ED problem, the proposed algorithm has strong competitiveness in each test index.

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Acknowledgements

The authors would like to thank the anonymous reviewers for their valuable comments and suggestions.

This work is supported by the National Natural Science Foundation of China (with number 61906164), by the Natural Science Foundation of Jiangsu Province of China (with number BK20190875).

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Ruxin Zhao, Wei Wang, Tingting Zhang, Lixiang Fu, Jiajie Kang, Hongtan Zhang, Yang Shi & Chao Jiang

School of Intelligent Manufacturing, Yangzhou Polytechnic Institute, Yangzhou, 225127, Jiangsu, China

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Ruxin Zhao, Wei Wang and Tingting Zhang wrote the main manuscript text. Chang Liu, Jiajie Kang and Lixiang Fu prepared figures and tables. Hongtan Zhang, Shi Yang and Chao Jiang were responsible for editing. All authors reviewed the manuscript.

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Zhao, R., Wang, W., Zhang, T. et al. An Adaptive Differential Evolution Algorithm Based on Data Preprocessing Method and a New Mutation Strategy to Solve Dynamic Economic Dispatch Considering Generator Constraints. Comput Econ (2024). https://doi.org/10.1007/s10614-024-10705-2

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