NSAIS organized together with the Finnish Real Option Society the NSAIS-ROW 2019 Workshop on Adaptive and Intelligent Systems and Real Options on Thursday and Friday – 22.-23. August, 2019 at LUT University in Lappeenranta, Finland.

The workshop theme was: “Adaptive and Intelligent Systems and Real Options in the Context of Digitalization and Manufacturing 4.0” as it is a collaboration with the Finnish Operational Research Society and MFG40 (Manufacturing 4.0) Finnish Strategic Research Council project.

Workshop schedule

Behavioral and cognitive considerations:

Mariia Kozlova and Jan Stoklasa: Satisfaction and Extremity Effects under the Baseline Approach in Multiple‐Criteria Decision‐Making Problems

Jana Stoklasová, Jan Stoklasa, Tomáš Talášek and Azzurra Morreale: Risk attitude in the context of preference extraction through questionnaires

Anssi Tarkiainen, Pasi Luukka, Ari Jantunen, Jukka‐Pekka Bergman, Olli Kuivalainen and Jan Stoklasa: Managerial cognition and firm performance

Olga Bogdanova and Mariia Kozlova: First steps of Data Collection Planning for Development of Artificial Intelligence Technology for the European Crowdfunding Aggregator Platform

Methodological advances:

Christoph Lohrmann and Pasi Luukka: Fuzzy similarity and entropy (FSAE) featureselection revisited by using intra‐class entropy and a normalized scaling factor

Jan Stoklasa and Jana Siebert: On the use of pairwise comparisons for absolute type evaluation

Christoph Lohrmann and Mariia Kozlova: Developing a Decision Tree Block for the Exercise Boundary Fitting Method

Business and industrial applications:

Stein‐Erik Fleten, Benjamin Fram, Magne Ledsaak, Sigurd Mehl, Ola Røssum and Carl Ullrich: Analysing Peaking Generator Availability in PJM: The Effect of the ReliabilityPricing Model

Jyrki Savolainen and Michele Urbani: Optimizing maintenance scheduling of multimachine industrial systems with simulation –example from metals mining

Yuri Lawryshyn: Using Boundary Fitting and Machine Learning to Value Multi‐StageReal Option Investments

Analytics with applications:

Christoph Lohrmann and Alena Lohrmann: Missing value imputation of the cooling technology for the global thermal power plant fleet using a decision tree classifier

Zhukov Dmitry and Tatiana Khvatova: A stochastic dynamics model for shaping stock indexes considering self‐organization processes, memory and oscillations

Lyudmila Vyunenko: Features of the Calibration Procedure for AK‐type Macroeconomic Models

Mahinda Mailagaha Kumbure, Anssi Tarkiainen, Pasi Luukka, Jan Stoklasa and Ari Jantunen: Examining Inter‐Causal Relationships in Shared Cognitive Maps

Finance and Business:

Lyudmila Gadasina and Kirill Tashlykov: Analysis of a Digital Transformation Factors’ Impact On Company Economic Performance

Irina Georgescu and Jani Kinnunen: Optimal Saving by Expected Utility Operators

Sheraz Ahmed and Muhammad Naeem: Adaptive market hypothesis: A comparative analysis of seven major digital currencies

Mika Jaakkola, Andreas Mikkelsen, Sheraz Ahmed, and Mikael Collan: Using chine learning in optimizing pairs trading strategies in the Nordic context

Local organizing committee:
Pasi Luukka, LUT, Finland (Chair)
Mikael Collan, LUT, Finland (Co-Chair)
Mariia Kozlova, LUT, Finland (Co-Chair)

International Scientific Programme Committee:

Pasi Luukka, LUT, Finland (Chair)
Mikael Collan, LUT, Finland, (Co-chair)
Mariia Kozlova, LUT, Finland
Jyrki Savolainen, LUT, Finland
Sheraz Ahmed, LUT, Finland
Eero Pätäri, LUT, Finland
Azzurra Morreale, LUT, Finland
Jan Stoklasa, LUT & Palacky, U., Finland & Czech Republic
Luigi Mittone, U. Trento, Italy
Matteo Brunelli, U. Trento, Italy
Jana Krejčí, U. Trento, Italy
Mario Fedrizzi, U. Trento, Italy
Yuri Lawryshyn, U. Toronto, Canada
Christer Carlsson, Åbo Akademi, Finland
Jozsef Mezei, Åbo Akademi, Finland
Xiaolu Wang, Åbo Akademi, Finland
Anna Sell, Åbo Akademi, Finland
Markku Heikkilä, Åbo Akademi, Finland
Julian Yeomans, U. York, Canada
Matt Davison, U. Western Ontario, Canada
Irina Georgescu, CSIE, Romania
Roberto Montemanni, IDSIA, Switzerland
Andri Riid, Tallinn UT., Estonia
Iulian Nastac, Polytechnic U. Bucharest, Romania