Scholarly

Bounded Rational Heterogeneous Agents in Artificial Stock Markets: Literature Review and Research Direction

Year: 2015 Volume: 9 Issue: 6 2108 - 2127 Pages

Abstract: In this paper, we provided a literature survey on the artificial stock problem (ASM). The paper began by exploring the complexity of the stock market and the needs for ASM. ASM aims to investigate the link between individual behaviors (micro level) and financial market dynamics (macro level). The variety of patterns at the macro level is a function of the AFM complexity. The financial market system is a complex system where the relationship between the micro and macro level cannot be captured analytically. Computational approaches, such as simulation, are expected to comprehend this connection. Agent-based simulation is a simulation technique commonly used to build AFMs. The paper proceeds by discussing the components of the ASM. We consider the roles of behavioral finance (BF) alongside the traditionally risk-averse assumption in the construction of agent’s attributes. Also, the influence of social networks in the developing of agents interactions is addressed. Network topologies such as a small world, distance-based, and scale-free networks may be utilized to outline economic collaborations. In addition, the primary methods for developing agents learning and adaptive abilities have been summarized. These incorporated approach such as Genetic Algorithm, Genetic Programming, Artificial neural network and Reinforcement Learning. In addition, the most common statistical properties (the stylized facts) of stock that are used for calibration and validation of ASM are discussed. Besides, we have reviewed the major related previous studies and categorize the utilized approaches as a part of these studies. Finally, research directions and potential research questions are argued. The research directions of ASM may focus on the macro level by analyzing the market dynamic or on the micro level by investigating the wealth distributions of the agents.

Case Studies in Three Domains of Learning: Cognitive, Affective, Psychomotor

Year: 2015 Volume: 9 Issue: 6 2104 - 2107 Pages

Authors:
Zeinabsadat Haghshenas

Abstract: Bloom’s Taxonomy has been changed during the years. The idea of this writing is about the revision that has happened in both facts and terms. It also contains case studies of using cognitive Bloom’s taxonomy in teaching geometric solids to the secondary school students, affective objectives in a creative workshop for adults and psychomotor objectives in fixing a malfunctioned refrigerator lamp. There is also pointed to the important role of classification objectives in adult education as a way to prevent memory loss.

Identity of Cultural Food: A Case Study of Traditional Mon Cuisine in Bangkok, Thailand

Year: 2015 Volume: 9 Issue: 6 2099 - 2103 Pages

Authors:
S. Nitiworakarn

Abstract: This research aims to identify traditional Mon cuisines as well as gather and classify traditional cuisines of Mon communities in Bangkok. The studying of this research is used by methodology of the quantitative research. Using the questionnaire as the method in collecting information from sampling totally amount of 450 persons analyzed via frequency, percentage and mean value. The results showed that a variety of traditional Mon cuisines of Bangkok could split into 6 categories of meat diet with 54 items and 6 categories of desserts with 19 items.

Psychopathic Disorders and Judges Sentencing: Can Neurosciences Change This Aggravating Factor in a Mitigating Factor?

Year: 2015 Volume: 9 Issue: 6 2092 - 2098 Pages

Authors:
Kevin Moustapha

Abstract: Psychopathic disorders are taking an important part in judge sentencing, especially in Canada. First, we will see how this phenomenon can be illustrated by the high proportion of psychopath offenders incarcerated in North American prisons. Many decisions in Canadians courtrooms seem to point out that psychopathy is often used as a strong argument by the judges to preserve public safety. The fact that psychopathy is often associated with violence, recklessness and recidivism, could explain why many judges consider psychopathic disorders as an aggravating factor. Generally, the judge reasoning is based on Article 753 of Canadian Criminal Code related to dangerous offenders, which is used for individuals who show a pattern of repetitive and persistent aggressive behaviour. Then we will show how, with cognitive neurosciences, the psychopath’s situation in courtrooms would probably change. Cerebral imaging and news data provided by the neurosciences show that emotional and volitional functions in psychopath’s brains are impaired. Understanding these new issues could enable some judges to recognize psychopathic disorders as a mitigating factor. Finally, two important questions ought to be raised in this article: can exploring psychopaths ‘brains really change the judge sentencing in Canadian courtrooms? If yes, can judges consider psychopathy more as a mitigating factor than an aggravating factor?

Variations and Fugue on an Ancient Taiwanese Music: The Art of Combining Taiwanese Traditional Music and Western Composition in Kuo Chih-Yuan’s Piano Repertoire

Year: 2015 Volume: 9 Issue: 6 2083 - 2091 Pages

Authors:
Sheng Wei Hsu

Abstract: Taiwanese composer Kuo Chih-Yuan (1921-2013) studied composition at Tokyo University of the Arts and was influenced by the musical nationalism prevailing in Japan at the time. Determined to create world-class contemporary works to represent Taiwan, he created music with elements of traditional Taiwanese music in ways that had not been done before. The aims of this study were to examine the traditional elements used in Kuo Chih-Yuan’s Variations and Fugue on an Ancient Taiwanese Music (1972), and how an understanding of these elements might guide pianists to interpret a more proper performance of his work was also presented in this study.

Strategic Risk Issues for Film Distributors of Hindi Film Industry in Mumbai: A Grounded Theory Approach

Year: 2015 Volume: 9 Issue: 6 2076 - 2082 Pages

Authors:
R. Dyondi
S. K. Jha

Abstract: The purpose of the paper is to address the strategic risk issues surrounding Hindi film distribution in Mumbai for a film distributor, who acts as an entrepreneur when launching a product (movie) in the market (film territory).The paper undertakes a fundamental review of films and risk in the Hindi film industry and applies Grounded Theory technique to understand the complex phenomena of risk taking behavior of the film distributors (both independent and studios) in Mumbai. Rich in-depth interviews with distributors are coded to develop core categories through constant comparison leading to conceptualization of the phenomena of interest. This paper is a first-of-its-kind-attempt to understand risk behavior of a distributor, which is akin to entrepreneurial risk behavior under conditions of uncertainty.

Governance and Economic Growth: Evidence of Ten Asian Countries

Year: 2015 Volume: 9 Issue: 6 2071 - 2075 Pages

Authors:
Chiung-Ju Huang

Abstract: This study utilizes a frequency domain approach over the period of 1996 to 2013 to examine the causal relationship between governance and economic growth in ten Asian countries, which have different levels of democracy; classified as “Free”, “Partly Free”, and “Not Free” countries. The empirical results show that there is no Granger causality running from governance to economic growth in “Not Free” countries and “Partly Free” countries with the exception of Singapore. As for “Free” countries such as South Korea and Taiwan, there is a one-way causality running from governance to economic growth. The findings of this study indicate that policy makers in South Korea, Taiwan, and Singapore could use governance index to improve their predictions of the future economic growth.

Analysis of Lead Time Delays in Supply Chain: A Case Study

Year: 2015 Volume: 9 Issue: 6 2065 - 2070 Pages

Abstract: Lead time is a critical measure of a supply chain's performance. It impacts both the customer satisfactions as well as the total cost of inventory. This paper presents the result of a study on the analysis of the customer order lead-time for a multinational company. In the study, the lead time was divided into three stages respectively: order entry, order fulfillment, and order delivery. A sample of size 2,425 order lines was extracted from the company's records to use for this study. The sample data entails information regarding customer orders from the time of order entry until order delivery. Data regarding the lead time of each stage for different orders were also provided. Summary statistics on lead time data reveals that about 30% of the orders were delivered later than the scheduled due date. The result of the multiple linear regression analysis technique revealed that component type, logistics parameter, order size and the customer type have significant impacts on lead time. Data analysis on the stages of lead time indicates that stage 2 consumed over 50% of the lead time. Pareto analysis was made to study the reasons for the customer order delay in each stage. Recommendation was given to resolve the problem.

Operations Research Applications in Audit Planning and Scheduling

Year: 2015 Volume: 9 Issue: 6 2056 - 2064 Pages

Authors:
Abdel-Aziz M. Mohamed

Abstract: This paper presents a state-of-the-art survey of the operations research models developed for internal audit planning. Two alternative approaches have been followed in the literature for audit planning: (1) identifying the optimal audit frequency; and (2) determining the optimal audit resource allocation. The first approach identifies the elapsed time between two successive audits, which can be presented as the optimal number of audits in a given planning horizon, or the optimal number of transactions after which an audit should be performed. It also includes the optimal audit schedule. The second approach determines the optimal allocation of audit frequency among all auditable units in the firm. In our review, we discuss both the deterministic and probabilistic models developed for audit planning. In addition, game theory models are reviewed to find the optimal auditing strategy based on the interactions between the auditors and the clients.

Investigating the Demand for Short-shelf Life Food Products for SME Wholesalers

Year: 2015 Volume: 9 Issue: 6 2051 - 2055 Pages

Abstract: Accurate forecasting of fresh produce demand is one the challenges faced by Small Medium Enterprise (SME) wholesalers. This paper is an attempt to understand the cause for the high level of variability such as weather, holidays etc., in demand of SME wholesalers. Therefore, understanding the significance of unidentified factors may improve the forecasting accuracy. This paper presents the current literature on the factors used to predict demand and the existing forecasting techniques of short shelf life products. It then investigates a variety of internal and external possible factors, some of which is not used by other researchers in the demand prediction process. The results presented in this paper are further analysed using a number of techniques to minimize noise in the data. For the analysis past sales data (January 2009 to May 2014) from a UK based SME wholesaler is used and the results presented are limited to product ‘Milk’ focused on café’s in derby. The correlation analysis is done to check the dependencies of variability factor on the actual demand. Further PCA analysis is done to understand the significance of factors identified using correlation. The PCA results suggest that the cloud cover, weather summary and temperature are the most significant factors that can be used in forecasting the demand. The correlation of the above three factors increased relative to monthly and becomes more stable compared to the weekly and daily demand.

The Impact of the European Single Market on the Austrian Economy under Alternative Assumptions about Global and National Policy Reactions

Year: 2015 Volume: 9 Issue: 6 2041 - 2050 Pages

Abstract: In this paper, we explore the macroeconomic effects of the European Single Market on Austria by simulating the McKibbin-Sachs Global Model. Global interdependences and the impact of long-run effects on short-run adjustments are taken into account. We study the sensitivity of the results with respect to different assumptions concerning monetary and fiscal policies for the countries and regions of the world economy. The consequences of different assumptions about budgetary policies in Austria are also investigated. The simulation results are contrasted with ex-post evaluations of the actual impact of Austria’s membership in the Single Market. As a result, it can be concluded that the Austrian participation in the European Single Market entails considerable long-run gains for the Austrian economy with nearly no adverse sideeffects on any macroeconomic target variable.

An Assessment of Brain Electrical Activities of Students toward Teacher’s Specific Emotions

Year: 2015 Volume: 9 Issue: 6 2037 - 2040 Pages

Abstract: In this study, the signal of brain electrical activities of the sixteen students selected from the Department of Electrical and Energy at Usak University have been recorded during a lecturer performed happiness emotions for the first group and anger emotions for the second group in different time while the groups were in the classroom separately. The attention and meditation data extracted from the recorded signals have been analyzed and evaluated toward the teacher’s specific emotion states simultaneously. Attention levels of students who are under influence of happiness emotions of the lecturer have a positive trend and attention levels of students who are under influence of anger emotions of the lecturer have a negative trend. The meditation or mental relaxation levels of students who are under influence of happiness emotions of the lecturer are 34.3% higher comparing with the mental relaxation levels of students who are under influence of anger emotions of the lecturer.

Addictive Use Due to Personality: Focused on Big Five Personality Traits and Game Addiction

Year: 2015 Volume: 9 Issue: 6 2032 - 2036 Pages

Abstract: This study examined whether big five personality traits affect game addiction with control of psychological, social, and demographic factors. Specifically, using data from a survey of 789 game users in Korea, we conducted a regression analysis to see the associations of psychological (loneliness/depression), social (activities with family/friends), self-efficacy (game/general), gaming (daily gaming time/perception), demographic (age/gender), and personality traits (extraversion, neuroticism conscientiousness, agreeableness, & openness) with the degree of game addiction. Results showed that neuroticism increase game addiction with no effect of extraversion on the addiction. General self-efficacy negatively affected game addiction, whereas game self-efficacy increased the degree of game addiction. Loneliness enhanced game addiction while depression showed a negative effect on the addiction. Results and implications are discussed.

Impact of Health Sector Economic Reforms in Underdeveloped Countries

Year: 2015 Volume: 9 Issue: 6 2027 - 2031 Pages

Authors:
Haga Elimam

Abstract: This paper investigates the connotation, and some of the realistic implications, of the economic reform of health sector in under developed countries. The paper investigates the issues that economic reforms have to address, and the policy targets they are considered to accomplish. The work argues that the development of economic reform is not connected only with understanding the priorities and refining them, furthermore with reformation and restructuring the organizations through which health policies are employed. Considering various organizational values, that are likely to be regular to all economic reform programs, a regulatory approach to institutional reform is unsuitable. The paper further investigates the selection of economic reform that may as well influence via technical suggestions and analysis, but the verdict to continue, and the consequent success of execution, eventually depends on the progressive political sustainability. The paper concludes by giving examples of institutional reforms from various underdeveloped countries and includes recommendation of the responsibility and control of donor organizations.

The Optimal Public Debt Ceiling in Taiwan: A Simulation Approach

Year: 2015 Volume: 9 Issue: 6 2022 - 2026 Pages

Abstract: This study conducts simulation analyses to find the optimal debt ceiling of Taiwan, while factoring in welfare maximization under a dynamic stochastic general equilibrium framework. The simulation is based on Taiwan's 2001 to 2011 economic data and shows that welfare is maximized at a debt/GDP ratio of 0.2, increases in the debt/GDP ratio leads to increases in both tax and interest rates and decreases in the consumption ratio and working hours. The study results indicate that the optimal debt ceiling of Taiwan is 20% of GDP, where if the debt/GDP ratio is greater than 40%, the welfare will be negative and result in welfare loss.

Learners’ Perceptions of Tertiary Level Teachers’ Code Switching: A Vietnamese Perspective

Year: 2015 Volume: 9 Issue: 6 2011 - 2021 Pages

Authors:
Hoa Pham

Abstract: The literature on language teaching and second language acquisition has been largely driven by monolingual ideology with a common assumption that a second language (L2) is best taught and learned in the L2 only. The current study challenges this assumption by reporting learners' positive perceptions of tertiary level teachers' code switching practices in Vietnam. The findings of this study contribute to our understanding of code switching practices in language classrooms from a learners' perspective. Data were collected from student participants who were working towards a Bachelor degree in English within the English for Business Communication stream through the use of focus group interviews. The literature has documented that this method of interviewing has a number of distinct advantages over individual student interviews. For instance, group interactions generated by focus groups create a more natural environment than that of an individual interview because they include a range of communicative processes in which each individual may influence or be influenced by others - as they are in their real life. The process of interaction provides the opportunity to obtain the meanings and answers to a problem that are "socially constructed rather than individually created" leading to the capture of real-life data. The distinct feature of group interaction offered by this technique makes it a powerful means of obtaining deeper and richer data than those from individual interviews. The data generated through this study were analysed using a constant comparative approach. Overall, the students expressed positive views of this practice indicating that it is a useful teaching strategy. Teacher code switching was seen as a learning resource and a source supporting language output. This practice was perceived to promote student comprehension and to aid the learning of content and target language knowledge. This practice was also believed to scaffold the students' language production in different contexts. However, the students indicated their preference for teacher code switching to be constrained, as extensive use was believed to negatively impact on their L2 learning and trigger cognitive reliance on the L1 for L2 learning. The students also perceived that when the L1 was used to a great extent, their ability to develop as autonomous learners was negatively impacted. This study found that teacher code switching was supported in certain contexts by learners, thus suggesting that there is a need for the widespread assumption about the monolingual teaching approach to be re-considered.

A Framework for the Evaluation of Infrastructures’ Serviceability

Year: 2015 Volume: 9 Issue: 6 2007 - 2010 Pages

Abstract: Aging infrastructures became a serious social problem. This brought out the increased need for the legislation of a new strict guideline for infrastructure management. Although existing guidelines provided basics of how to evaluate and manage the condition of infrastructures, they needed improvements for their evaluation procedures. Most guidelines mainly focused on the structural condition of infrastructures and did not properly reflect service aspects of infrastructures such as performance, public demand, capacity, etc., which were significantly valuable to public. Regardless of the importance, these factors were often neglected in infrastructure evaluations, because they were quite subjective and difficult to quantify in rational manner. Thus, this study proposed a framework to properly identify and evaluate the service indicators. This study showed that service indicators could be grouped into two categories and properly evaluated using AHP and Fuzzy. Overall, proposed framework is expected to assist governmental agency in establishing effective investment strategies for infrastructure improvements.

Effect of Personality Traits on Classification of Political Orientation

Year: 2015 Volume: 9 Issue: 6 2001 - 2006 Pages

Abstract: Today, there is a large number of political transcripts available on the Web to be mined and used for statistical analysis, and product recommendations. As the online political resources are used for various purposes, automatically determining the political orientation on these transcripts becomes crucial. The methodologies used by machine learning algorithms to do an automatic classification are based on different features that are classified under categories such as Linguistic, Personality etc. Considering the ideological differences between Liberals and Conservatives, in this paper, the effect of Personality traits on political orientation classification is studied. The experiments in this study were based on the correlation between LIWC features and the BIG Five Personality traits. Several experiments were conducted using Convote U.S. Congressional- Speech dataset with seven benchmark classification algorithms. The different methodologies were applied on several LIWC feature sets that constituted by 8 to 64 varying number of features that are correlated to five personality traits. As results of experiments, Neuroticism trait was obtained to be the most differentiating personality trait for classification of political orientation. At the same time, it was observed that the personality trait based classification methodology gives better and comparable results with the related work.

Supplier Selection in a Scenario Based Stochastic Model with Uncertain Defectiveness and Delivery Lateness Rates

Year: 2015 Volume: 9 Issue: 6 1995 - 2000 Pages

Abstract: Due to today’s globalization as well as outsourcing practices of the companies, the Supply Chain (SC) performances have become more dependent on the efficient movement of material among places that are geographically dispersed, where there is more chance for disruptions. One such disruption is the quality and delivery uncertainties of outsourcing. These uncertainties could lead the products to be unsafe and, as is the case in a number of recent examples, companies may have to end up in recalling their products. As a result of these problems, there is a need to develop a methodology for selecting suppliers globally in view of risks associated with low quality and late delivery. Accordingly, we developed a two-stage stochastic model that captures the risks associated with uncertainty in quality and delivery as well as a solution procedure for the model. The stochastic model developed simultaneously optimizes supplier selection and purchase quantities under price discounts over a time horizon. In particular, our target is the study of global organizations with multiple sites and multiple overseas suppliers, where the pricing is offered in suppliers’ local currencies. Our proposed methodology is applied to a case study for a US automotive company having two assembly plants and four potential global suppliers to illustrate how the proposed model works in practice.

Participatory Democracy to the Contemporary Problems of Polish Social Policy

Year: 2015 Volume: 9 Issue: 6 1988 - 1994 Pages

Authors:
Agnieszka Szczudlińska-Kanoś

Abstract: Socio-economic development, which is seen around the world today, has contributed to the emergence of new problems of a social nature. Different political, historical, geographical or economic conditions cause that, in addition to global issues of social policy such as an aging population, unemployment, migration, countries, regions, there are also specific new problems that require diagnosis, individualized approach and efficient, planned solutions. These should include, among others, digital addiction, peer violence, obesity among children, the problem of ‘legal highs’, stress, depression, diseases associated with environmental pollution etc. The central authorities, selected most often with the tools specific to representative democracy, that is, the general election, for many reasons, inter alia, organizational, communication, are not able to effectively diagnose their intensity, territorial distribution, and thus to effectively fight them. This article aims to show how in Poland, citizens influence solving problems related to the broader social policy implemented at the local government level and indicates the possibilities of improving those solutions. The conclusions of theoretical analysis have been supported by empirical studies, which tested the use of instruments of participatory democracy in the planning and creation of communal strategies for solving social problems in one of the Polish voivodeships.

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