Abstract: For decades financial economists have been attempted to determine the optimal investment policy by recognizing the option value embedded in irreversible investment whose project value evolves as a geometric Brownian motion (GBM). This paper aims to examine the effects of the optimal investment trigger and of the misspecification of stochastic processes on investment in real options applications. Specifically, the former explores the consequence of adopting optimal investment rules on the distributions of corporate value under the correct assumption of stochastic process while the latter analyzes the influence on the distributions of corporate value as a result of the misspecification of stochastic processes, i.e., mistaking an alternative process as a GBM. It is found that adopting the correct optimal investment policy may increase corporate value by shifting the value distribution rightward, and the misspecification effect may decrease corporate value by shifting the value distribution leftward. The adoption of the optimal investment trigger has a major impact on investment to such an extent that the downside risk of investment is truncated at the project value of zero, thereby moving the value distributions rightward. The analytical framework is also extended to situations where collection lags are in place, and the result indicates that collection lags reduce the effects of investment trigger and misspecification on investment in an opposite way.
Abstract: The design of a complete expansion that allows for
compact representation of certain relevant classes of signals is a
central problem in signal processing applications. Achieving such a
representation means knowing the signal features for the purpose of
denoising, classification, interpolation and forecasting. Multilayer
Neural Networks are relatively a new class of techniques that are
mathematically proven to approximate any continuous function
arbitrarily well. Radial Basis Function Networks, which make use of
Gaussian activation function, are also shown to be a universal
approximator. In this age of ever-increasing digitization in the
storage, processing, analysis and communication of information,
there are numerous examples of applications where one needs to
construct a continuously defined function or numerical algorithm to
approximate, represent and reconstruct the given discrete data of a
signal. Many a times one wishes to manipulate the data in a way that
requires information not included explicitly in the data, which is
done through interpolation and/or extrapolation.
Tidal data are a very perfect example of time series and many
statistical techniques have been applied for tidal data analysis and
representation. ANN is recent addition to such techniques. In the
present paper we describe the time series representation capabilities
of a special type of ANN- Radial Basis Function networks and
present the results of tidal data representation using RBF. Tidal data
analysis & representation is one of the important requirements in
marine science for forecasting.
Abstract: It is necessary to incorporate technological advances
achieved in the field of engineering into dentistry in order to enhance
the process of diagnosis, treatment planning and enable the doctors to
render better treatment to their patients. To achieve this ultimate goal
long distance collaborations are often necessary. This paper discusses
the various collaborative tools and their applications to solve a few
burning problems confronted by the dentists. Customization is often
the solution to most of the problems. But rapid designing,
development and cost effective manufacturing is a difficult task to
achieve. This problem can be solved using the technique of digital
manufacturing. Cases from 6 major branches of dentistry have been
discussed and possible solutions with the help of state of art
technology using rapid digital manufacturing have been proposed in
the present paper. The paper also entails the usage of existing tools in
collaborative and digital manufacturing area.
Abstract: This work deals with the initial applications and formulation of an anisotropic plastic-damage constitutive model proposed for non-linear analysis of reinforced concrete structures submitted to a loading with change of the sign. The original constitutive model is based on the fundamental hypothesis of energy equivalence between real and continuous medium following the concepts of the Continuum Damage Mechanics. The concrete is assumed as an initial elastic isotropic medium presenting anisotropy, permanent strains and bimodularity (distinct elastic responses whether traction or compression stress states prevail) induced by damage evolution. In order to take into account the bimodularity, two damage tensors governing the rigidity in tension or compression regimes are introduced. Then, some conditions are introduced in the original version of the model in order to simulate the damage unilateral effect. The three-dimensional version of the proposed model is analyzed in order to validate its formulation when compared to micromechanical theory. The one-dimensional version of the model is applied in the analyses of a reinforced concrete beam submitted to a loading with change of the sign. Despite the parametric identification problems, the initial applications show the good performance of the model.
Abstract: In this paper, by employing a new Lyapunov functional
and an elementary inequality analysis technique, some sufficient
conditions are derived to ensure the existence and uniqueness of
periodic oscillatory solution for fuzzy bi-directional memory (BAM)
neural networks with time-varying delays, and all other solutions of
the fuzzy BAM neural networks converge the uniqueness periodic
solution. These criteria are presented in terms of system parameters
and have important leading significance in the design and applications
of neural networks. Moreover an example is given to illustrate the
effectiveness and feasible of results obtained.
Abstract: As many scientific applications require large data processing, the importance of parallel I/O has been increasingly recognized. Collective I/O is one of the considerable features of parallel I/O and enables application programmers to easily handle their large data volume. In this paper we measured and analyzed the performance of original collective I/O and the subgroup method, the way of using collective I/O of MPI effectively. From the experimental results, we found that the subgroup method showed good performance with small data size.
Abstract: The recognition of handwritten numeral is an
important area of research for its applications in post office, banks
and other organizations. This paper presents automatic recognition of
handwritten Kannada numerals based on structural features. Five
different types of features, namely, profile based 10-segment string,
water reservoir; vertical and horizontal strokes, end points and
average boundary length from the minimal bounding box are used in
the recognition of numeral. The effect of each feature and their
combination in the numeral classification is analyzed using nearest
neighbor classifiers. It is common to combine multiple categories of
features into a single feature vector for the classification. Instead,
separate classifiers can be used to classify based on each visual
feature individually and the final classification can be obtained based
on the combination of separate base classification results. One
popular approach is to combine the classifier results into a feature
vector and leaving the decision to next level classifier. This method
is extended to extract a better information, possibility distribution,
from the base classifiers in resolving the conflicts among the
classification results. Here, we use fuzzy k Nearest Neighbor (fuzzy
k-NN) as base classifier for individual feature sets, the results of
which together forms the feature vector for the final k Nearest
Neighbor (k-NN) classifier. Testing is done, using different features,
individually and in combination, on a database containing 1600
samples of different numerals and the results are compared with the
results of different existing methods.
Abstract: Knowledge is indispensable but voluminous knowledge becomes a bottleneck for efficient processing. A great challenge for data mining activity is the generation of large number of potential rules as a result of mining process. In fact sometimes result size is comparable to the original data. Traditional data mining pruning activities such as support do not sufficiently reduce the huge rule space. Moreover, many practical applications are characterized by continual change of data and knowledge, thereby making knowledge voluminous with each change. The most predominant representation of the discovered knowledge is the standard Production Rules (PRs) in the form If P Then D. Michalski & Winston proposed Censored Production Rules (CPRs), as an extension of production rules, that exhibit variable precision and supports an efficient mechanism for handling exceptions. A CPR is an augmented production rule of the form: If P Then D Unless C, where C (Censor) is an exception to the rule. Such rules are employed in situations in which the conditional statement 'If P Then D' holds frequently and the assertion C holds rarely. By using a rule of this type we are free to ignore the exception conditions, when the resources needed to establish its presence, are tight or there is simply no information available as to whether it holds or not. Thus the 'If P Then D' part of the CPR expresses important information while the Unless C part acts only as a switch changes the polarity of D to ~D. In this paper a scheme based on Dempster-Shafer Theory (DST) interpretation of a CPR is suggested for discovering CPRs from the discovered flat PRs. The discovery of CPRs from flat rules would result in considerable reduction of the already discovered rules. The proposed scheme incrementally incorporates new knowledge and also reduces the size of knowledge base considerably with each episode. Examples are given to demonstrate the behaviour of the proposed scheme. The suggested cumulative learning scheme would be useful in mining data streams.
Abstract: Finding synchronizing sequences for the finite automata is a very important problem in many practical applications (part orienters in industry, reset problem in biocomputing theory, network issues etc). Problem of finding the shortest synchronizing sequence is NP-hard, so polynomial algorithms probably can work only as heuristic ones. In this paper we propose two versions of polynomial algorithms which work better than well-known Eppstein-s Greedy and Cycle algorithms.
Abstract: The paper presents the applications of artificial
intelligence technique called adaptive tabu search to design the
controller of a buck converter. The averaging model derived from the
DQ and generalized state-space averaging methods is applied to
simulate the system during a searching process. The simulations
using such averaging model require the faster computational time
compared with that of the full topology model from the software
packages. The reported model is suitable for the work in the paper in
which the repeating calculation is needed for searching the best
solution. The results will show that the proposed design technique
can provide the better output waveforms compared with those
designed from the classical method.
Abstract: Realistic 3D face model is desired in various
applications such as face recognition, games, avatars, animations, and
etc. Construction of 3D face model is composed of 1) building a face
shape model and 2) rendering the face shape model. Thus, building a
realistic 3D face shape model is an essential step for realistic 3D face
model. Recently, 3D morphable model is successfully introduced to
deal with the various human face shapes. 3D dense correspondence
problem should be precedently resolved for constructing a realistic 3D
dense morphable face shape model. Several approaches to 3D dense
correspondence problem in 3D face modeling have been proposed
previously, and among them optical flow based algorithms and TPS
(Thin Plate Spline) based algorithms are representative. Optical flow
based algorithms require texture information of faces, which is
sensitive to variation of illumination. In TPS based algorithms
proposed so far, TPS process is performed on the 2D projection
representation in cylindrical coordinates of the 3D face data, not
directly on the 3D face data and thus errors due to distortion in data
during 2D TPS process may be inevitable.
In this paper, we propose a new 3D dense correspondence algorithm
for 3D dense morphable face shape modeling. The proposed algorithm
does not need texture information and applies TPS directly on 3D face
data. Through construction procedures, it is observed that the proposed
algorithm constructs realistic 3D face morphable model reliably and
fast.
Abstract: Social, mobility and information aggregation inside
business environment need to converge to reach the next step of
collaboration to enhance interaction and innovation. The following
article is based on the “Assemblage" concept seen as a framework to
formalize new user interfaces and applications. The area of research
is the Energy Social Business Environment, especially the Energy
Smart Grids, which are considered as functional and technical
foundations of the revolution of the Energy Sector of tomorrow. The
assemblages are modelized by means of mereology and simplicial
complexes. Its objective is to offer new central attention and
decision-making tools to end-users.
Abstract: The paper presents the design concept of a unitselection
text-to-speech synthesis system for the Slovenian language.
Due to its modular and upgradable architecture, the system can be
used in a variety of speech user interface applications, ranging from
server carrier-grade voice portal applications, desktop user interfaces
to specialized embedded devices.
Since memory and processing power requirements are important
factors for a possible implementation in embedded devices, lexica
and speech corpora need to be reduced. We describe a simple and
efficient implementation of a greedy subset selection algorithm that
extracts a compact subset of high coverage text sentences. The
experiment on a reference text corpus showed that the subset
selection algorithm produced a compact sentence subset with a small
redundancy.
The adequacy of the spoken output was evaluated by several
subjective tests as they are recommended by the International
Telecommunication Union ITU.
Abstract: In recent times there has been a growing interest in the
development of quasi-two-dimensional niobium pentoxide (Nb2O5)
as a semiconductor for the potential electronic applications such as
capacitors, filtration, dye-sensitised solar cells and gas sensing
platforms. Therefore once the purpose is established, Nb2O5 can be
prepared in a number of nano- and sub-micron-structural
morphologies that include rods, wires, belts and tubes. In this study
films of Nb2O5 were prepared on gold plated silicon substrate using
spin-coating technique and subsequently by mechanical exfoliation.
The reason this method was employed was to achieve layers of less
than 15nm in thickness. The sintering temperature of the specimen
was 800oC. The morphology and structural characteristics of the
films were analyzed by Atomic Force Microscopy (AFM), Raman
Spectroscopy, X-ray Photoelectron Spectroscopy (XPS).
Abstract: The lubricating properties of commercially available
mucins originating from different animal organs, namely bovine
submaxillary mucin (BSM) and porcine gastric mucin (PGM), have
been characterized at polymeric surfaces for biomedical applications.
Atomic force microscopy (AFM) and pin-on-disk tribometry have
been employed for tribological studies at nanoscale and macroscale
contacts, respectively. Polystyrene (PS) was employed to represent
‘rigid’ contacts, whereas poly(dimethylsiloxane) (PDMS) was
employed to represent ‘soft contacts’. To understand the lubricating
properties of mucins in correlation with the coverage on surfaces,
adsorption properties of mucins onto the polymeric substrates have
been characterized by means of optical waveguide light-mode
spectroscopy (OWLS). Both mucins showed facile adsorption onto
both polymeric substrates, but the lubricity was highly dependent
upon the pH change between 2 and 7.
Abstract: Information of nodes’ locations is an important
criterion for lots of applications in Wireless Sensor Networks. In the
hop-based range-free localization methods, anchors transmit the
localization messages counting a hop count value to the whole
network. Each node receives this message and calculates its own
distance with anchor in hops and then approximates its own position.
However the estimative distances can provoke large error, and affect
the localization precision. To solve the problem, this paper proposes
an algorithm, which makes the unknown nodes fix the nearest anchor
as a reference and select two other anchors which are the most
accurate to achieve the estimated location. Compared to the DV-Hop
algorithm, experiment results illustrate that proposed algorithm has
less average localization error and is more effective.
Abstract: The rapid improvement of the microprocessor and network has made it possible for the PC cluster to compete with conventional supercomputers. Lots of high throughput type of applications can be satisfied by using the current desktop PCs, especially for those in PC classrooms, and leave the supercomputers for the demands from large scale high performance parallel computations. This paper presents our development on enabling an automated deployment mechanism for cluster computing to utilize the computing power of PCs such as reside in PC classroom. After well deployment, these PCs can be transformed into a pre-configured cluster computing resource immediately without touching the existing education/training environment installed on these PCs. Thus, the training activities will not be affected by this additional activity to harvest idle computing cycles. The time and manpower required to build and manage a computing platform in geographically distributed PC classrooms also can be reduced by this development.
Abstract: An automatic method for the extraction of feature points for face based applications is proposed. The system is based upon volumetric feature descriptors, which in this paper has been extended to incorporate scale space. The method is robust to noise and has the ability to extract local and holistic features simultaneously from faces stored in a database. Extracted features are stable over a range of faces, with results indicating that in terms of intra-ID variability, the technique has the ability to outperform manual landmarking.
Abstract: Silicon nanowire (SiNW) based thermoelectric device (TED) has potential applications in areas such as chip level cooling/ energy harvesting. It is a great challenge however, to assemble an efficient device with these SiNW. The presence of parasitic in the form of interfacial electrical resistance will have a significant impact on the performance of the TED. In this work, we explore the effect of the electrical contact resistance on the performance of a TED. Numerical simulations are performed on SiNW to investigate such effects on its cooling performance. Intrinsically, SiNW individually without the unwanted parasitic effect has excellent cooling power density. However, the cooling effect is undermined with the contribution of the electrical contact resistance.
Abstract: In this study, the forty Thai medicinal plants were
used to screen the antibacterial activity against Campylobacter jejuni.
Crude 95% ethanolic extracts of each plant were prepared.
Antibacterial activity was investigated by the disc diffusion assay,
and MICs and MBCs were determined by broth microdilution. The
results of antibacterial screening showed that five plants have activity
against C.jejuni including Adenanthera pavonina L., Moringa
oleifera Lam., Annona squamosa L., Hibiscus sabdariffa L. and
Eupotorium odortum L. The extraction of A. pavonina L. and A.
squamosa L. produced an outstanding against C. jejuni, inhibiting
growth at 62.5-125 and 250-500 μg/mL, respectively. The MBCs of
two extracts were just 4-fold higher than MICs against C. jejuni,
suggesting the extracts are bactericidal against this species. These
results indicate that A. pavonina and A. squamosa could potentially
be used in modern applications aimed at treatment or prevention of
foodborne disease from C. jejuni.