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Investment Decision Support System in Tourism Based on Stochastic Fractional Programming


Dukić, Darko; Sesar, Mate
Investment Decision Support System in Tourism Based on Stochastic Fractional Programming // Proceedings of the 4th International Conference “ An Enterprise Odyssey: Tourism - Governance and Entrepreneurship” / Galetić, Lovorka ; Čavlek, Nevenka (ur.).
Zagreb: University of Zagreb - Faculty of Economics and Business, 2008. str. 838-847 (predavanje, međunarodna recenzija, cjeloviti rad (in extenso), znanstveni)


Naslov
Investment Decision Support System in Tourism Based on Stochastic Fractional Programming

Autori
Dukić, Darko ; Sesar, Mate

Vrsta, podvrsta i kategorija rada
Radovi u zbornicima skupova, cjeloviti rad (in extenso), znanstveni

Izvornik
Proceedings of the 4th International Conference “ An Enterprise Odyssey: Tourism - Governance and Entrepreneurship” / Galetić, Lovorka ; Čavlek, Nevenka - Zagreb : University of Zagreb - Faculty of Economics and Business, 2008, 838-847

ISBN
953-6025-24-8

Skup
4th International Conference “ An Enterprise Odyssey: Tourism - Governance and Entrepreneurship”

Mjesto i datum
Cavtat, 11-14.06.2008.

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Međunarodna recenzija

Ključne riječi
Decision support system ; stochastic fractional programming ; investment ; accommodation capacity ; computerizing

Sažetak
Planning of accommodation capacity is one of the most important tasks of tourism management. Building new accommodation requires long-term investments and considerable funding, which is usually obtained through bank loans. It is therefore crucial to minimize the possibility of making wrong investment decisions in this domain. For this purpose, the decision-making process should include adequate quantitative methods and models. The investment decision support system considered in this paper is based on stochastic sum-of-ratios fractional programming. Solving the posed fractional programming problem, in which the parameters are defined as random variables, yields the combination of accommodation units that will, under given constraints, provide economical operation to a maximum degree. To begin with, the model is presented theoretically, and after that, the procedure of its construction and solution is demonstrated on a hypothetical example. The efficiency and usage value of the proposed model can be significantly improved by computerizing each of its phases. In this way the model becomes accessible to a wider range of managers involved in investment decision making in the area of accommodation planning.

Izvorni jezik
Engleski

Znanstvena područja
Informacijske i komunikacijske znanosti



POVEZANOST RADA


Autor s matičnim brojem:
Darko Dukić, (260093)

Časopis indeksira:


  • EconLit