8th World Summit on Management Sciences
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Accepted Abstracts

The Indicator of Happiness in the Resource-based Economy: An Extreme Approach

Maergoiz LS* and Khlebopros RG
Federal Research Center ``Krasnoyarsk Science Center of the Siberian Branch of the Russian Academy of Sciences'', Russia

Citation: Maergoiz LS, Khlebopros RG (2020) The Indicator of Happiness in the Resource-based Economy: An Extreme Approach. SciTech Management Sciences 2020.

Received: September 16, 2020         Accepted: September 17, 2020         Published: September 17, 2020

Abstract

This work explores the challenges of distributing a socio-economically charged resource, limited in supply, with due regard to the aspects of morality and equity. We face a need to find a distribution algorithm that would satisfy all differentiated groups consuming the resource – to define a “happiness” indicator. The book presents a newly developed mathematical approach (optimization mathematical model) to solve the problem provided there is a strict ‘prestige’ rating for the groups considered and a numerical scale to reflect their demand in the resource. It demonstrates how the model can be used to possibly solve the problem of objectification of greenhouse gas emission quotas. By adjusting the interpretation of model parameters, we discover a mathematical algorithm to distribute and allocate a bonus funds among employees given a ranking of product categories showing their increasing quality and labor intensity involved in manufacturing (quality scale) and a numerical scale characterizing the amount of products created by each employee in any category (quantity scale).The monograph is intended for economists, specialists in mathematical modeling, ecology or sociology, researchers, college and university professors, post-graduates, and masters. It should be of interest and use to experts in public and local administration.