Fuzzy Numbers and MCDM Methods for Portfolio Optimization

A new deployment of the multiple criteria decision making (MCDM) techniques: the Simple Additive Weighting (SAW), and the Technique for Order Preference by Similarity to Ideal Solution (TOPSIS) for portfolio allocation, is demonstrated in this paper. Rather than exclusive reference to mean and variance as in the traditional mean-variance method, the criteria used in this demonstration are the first four moments of the portfolio distribution. Each asset is evaluated based on its marginal impacts to portfolio higher moments that are characterized by trapezoidal fuzzy numbers. Then centroid-based defuzzification is applied to convert fuzzy numbers to the crisp numbers by which SAW and TOPSIS can be deployed. Experimental results suggest the similar efficiency of these MCDM approaches to selecting dominant assets for an optimal portfolio under higher moments. The proposed approaches allow investors flexibly adjust their risk preferences regarding higher moments via different schemes adapting to various (from conservative to risky) kinds of investors. The other significant advantage is that, compared to the mean-variance analysis, the portfolio weights obtained by SAW and TOPSIS are consistently well-diversified.

Spectral Amplitude Coding Optical CDMA: Performance Analysis of PIIN Reduction Using VC Code Family

Multi-user interference (MUI) is the main reason of system deterioration in the Spectral Amplitude Coding Optical Code Division Multiple Access (SAC-OCDMA) system. MUI increases with the number of simultaneous users, resulting into higher probability bit rate and limits the maximum number of simultaneous users. On the other hand, Phase induced intensity noise (PIIN) problem which is originated from spontaneous emission of broad band source from MUI severely limits the system performance should be addressed as well. Since the MUI is caused by the interference of simultaneous users, reducing the MUI value as small as possible is desirable. In this paper, an extensive study for the system performance specified by MUI and PIIN reducing is examined. Vectors Combinatorial (VC) codes families are adopted as a signature sequence for the performance analysis and a comparison with reported codes is performed. The results show that, when the received power increases, the PIIN noise for all the codes increases linearly. The results also show that the effect of PIIN can be minimized by increasing the code weight leads to preserve adequate signal to noise ratio over bit error probability. A comparison study between the proposed code and the existing codes such as Modified frequency hopping (MFH), Modified Quadratic- Congruence (MQC) has been carried out.

PIIN Suppression Using Random Diagonal Code for Spectral Amplitude Coding Optical CDMA System

A new code for spectral-amplitude coding optical code-division multiple-access system is proposed called Random diagonal (RD) code. This code is constructed using code segment and data segment. One of the important properties of this code is that the cross correlation at data segment is always zero, which means that Phase Intensity Induced Noise (PIIN) is reduced. For the performance analysis, the effects of phase-induced intensity noise, shot noise, and thermal noise are considered simultaneously. Bit-error rate (BER) performance is compared with Hadamard and Modified Frequency Hopping (MFH) codes. It is shown that the system using this new code matrices not only suppress PIIN, but also allows larger number of active users compare with other codes. Simulation results shown that using point to point transmission with three encoded channels, RD code has better BER performance than other codes, also its found that at 0 dbm PIIN noise are 10-10 and 10-11 for RD and MFH respectively.

Multi-Objective Optimization for Performance-based Seismic Retrofit using Connection Upgrade

The unanticipated brittle fracture of connection of the steel moment resisting frame (SMRF) occurred in 1994 the Northridge earthquake. Since then, the researches for the vulnerability of connection of the existing SMRF and for rehabilitation of those buildings were conducted. This paper suggests performance-based optimal seismic retrofit technique using connection upgrade. For optimal design, a multi-objective genetic algorithm(NSGA-II) is used. One of the two objective functions is to minimize initial cost and another objective function is to minimize lifetime seismic damages cost. The optimal algorithm proposed in this paper is performed satisfying specified performance objective based on FEMA 356. The nonlinear static analysis is performed for structural seismic performance evaluation. A numerical example of SAC benchmark SMRF is provided using the performance-based optimal seismic retrofit technique proposed in this paper

Sovereign Credit Risk Measures

This paper focuses on sovereign credit risk meaning a hot topic related to the current Eurozone crisis. In the light of the recent financial crisis, market perception of the creditworthiness of individual sovereigns has changed significantly. Before the outbreak of the financial crisis, market participants did not differentiate between credit risk born by individual states despite different levels of public indebtedness. In the proceeding of the financial crisis, the market participants became aware of the worsening fiscal situation in the European countries and started to discriminate among government issuers. Concerns about the increasing sovereign risk were reflected in surging sovereign risk premium. The main of this paper is to shed light on the characteristics of the sovereign risk with the special attention paid to the mutual relation between credit spread and the CDS premium as the main measures of the sovereign risk premium.

Data Acquisition from Cell Phone using Logical Approach

Cell phone forensics to acquire and analyze data in the cellular phone is nowadays being used in a national investigation organization and a private company. In order to collect cellular phone flash memory data, we have two methods. Firstly, it is a logical method which acquires files and directories from the file system of the cell phone flash memory. Secondly, we can get all data from bit-by-bit copy of entire physical memory using a low level access method. In this paper, we describe a forensic tool to acquire cell phone flash memory data using a logical level approach. By our tool, we can get EFS file system and peek memory data with an arbitrary region from Korea CDMA cell phone.

Mineral and Some Physico-Chemical Composition of 'Karayemis' (Prunus laurocerasus L.) Fruits Grown in Northeast Turkey

Some physico-chemical characteristics and mineral composition of 'Karayemis' (Prunus laurocerasus L.) fruits which grown naturally in Norteast Turkey was studied. 28 minerals ( Al, Mg, B, Mn, Co, Na, Ca, Ni, Cd, P, Cr, Pb, Cu, S, Fe, Zn, K, Sr, Li, As, V, Ag, Ba, Br, Ga, In, Se, Ti) were analyzed and 19 minerals were present at ascertainable levels. Karayemis fruit was richest in potassium (7938.711 ppm), magnesium (1242.186 ppm) and calcium (1158.853 ppm). And some physico-chemical characteristics of Karayemis fruit was investigated. Fruit length, fruit width, fruit thickness, fruit weight, total soluble solids, colour, protein, crude ash, crude fiber, crude oil values were determined as 2.334 cm, 1.884 cm, 2.112 cm, 5.35 g, 20.1 %, S99M99Y99, 0.29 %, 0.22 %, 6.63 % and 0.001 %, respectively. The seed of fruit mean weight, length, width and thickness were found to be 0.41 g, 1.303 cm, 0.921 cm and 0.803, respectively.

Synthesis, Characterization and PL Properties of Cds Nanoparticles Confined within a Functionalized SBA-15 Mesoprous

A simple and dexterous in situ method was introduced to load CdS nanocrystals into organofunctionalized mesoporous, which used an ion-exchange method. The products were extensively characterized by combined spectroscopic methods. X- ray diffraction (XRD) and high-resolution transmission electron microscopy (HRTEM) demonstrated both the maintenance of pore symmetry (space group p6mm) of SBA-15 and the presence of CdS nanocrystals with uniform sizes of about 6 - 8 nm inside the functionalized SBA-15 channels. These mesoporous silica-supported CdS composites showed room temperature photoluminescence properties with a blue shift, indicating the quantum size effect of nanocrystalline CdS.

A Simple Affymetrix Ratio-transformation Method Yields Comparable Expression Level Quantifications with cDNA Data

Gene expression profiling is rapidly evolving into a powerful technique for investigating tumor malignancies. The researchers are overwhelmed with the microarray-based platforms and methods that confer them the freedom to conduct large-scale gene expression profiling measurements. Simultaneously, investigations into cross-platform integration methods have started gaining momentum due to their underlying potential to help comprehend a myriad of broad biological issues in tumor diagnosis, prognosis, and therapy. However, comparing results from different platforms remains to be a challenging task as various inherent technical differences exist between the microarray platforms. In this paper, we explain a simple ratio-transformation method, which can provide some common ground for cDNA and Affymetrix platform towards cross-platform integration. The method is based on the characteristic data attributes of Affymetrix- and cDNA- platform. In the work, we considered seven childhood leukemia patients and their gene expression levels in either platform. With a dataset of 822 differentially expressed genes from both these platforms, we carried out a specific ratio-treatment to Affymetrix data, which subsequently showed an improvement in the relationship with the cDNA data.

Analytical Mathematical Expression for the Channel Capacity of a Power and Rate Simultaneous Adaptive Cellular DS/FFH-CDMA Systemin a Rayleigh Fading Channel

In this paper, an accurate theoretical analysis for the achievable average channel capacity (in the Shannon sense) per user of a hybrid cellular direct-sequence/fast frequency hopping code-division multiple-access (DS/FFH-CDMA) system operating in a Rayleigh fading environment is presented. The analysis covers the downlink operation and leads to the derivation of an exact mathematical expression between the normalized average channel capacity available to each system-s user, under simultaneous optimal power and rate adaptation and the system-s parameters, as the number of hops per bit, the processing gain applied, the number of users per cell and the received signal-tonoise power ratio over the signal bandwidth. Finally, numerical results are presented to illustrate the proposed mathematical analysis.

An Experimental Design Approach to Determine Effects of The Operating Parameters on The Rate of Ru promoted Ir Carbonylation of Methanol

carbonylation of methanol in homogenous phase is one of the major routesfor production of acetic acid. Amongst group VIII metal catalysts used in this process iridium has displayed the best capabilities. To investigate effect of operating parameters like: temperature, pressure, methyl iodide, methyl acetate, iridium, ruthenium, and water concentrations on the reaction rate, experimental design for this system based upon central composite design (CCD) was utilized. Statistical rate equation developed by this method contained individual, interactions and curvature effects of parameters on the reaction rate. The model with p-value less than 0.0001 and R2 values greater than 0.9; confirmeda satisfactory fitness of the experimental and theoretical studies. In other words, the developed model and experimental data obtained passed all diagnostic tests establishing this model as a statistically significant.

Bail-in Capital: The New Box

In this paper, we discuss the paradigm shift in bank capital from the “gone concern" to the “going concern" mindset. We then propose a methodology for pricing a product of this shift called Contingent Capital Notes (“CoCos"). The Merton Model can determine a price for credit risk by using the firm-s equity value as a call option on those assets. Our pricing methodology for CoCos also uses the credit spread implied by the Merton Model in a subsequent derivative form created by John Hull et al . Here, a market implied asset volatility is calculated by using observed market CDS spreads. This implied asset volatility is then used to estimate the probability of triggering a predetermined “contingency event" given the distanceto- trigger (DTT). The paper then investigates the effect of varying DTTs and recovery assumptions on the CoCo yield. We conclude with an investment rationale.

Volatile Organochlorine Compounds Emitted by Temperate Coniferous Forests

Chlorine is one of the most abundant elements in nature, which undergoes a complex biogeochemical cycle. Chlorine bound in some substances is partly responsible for atmospheric ozone depletion and contamination of some ecosystems. As due to international regulations anthropogenic burden of volatile organochlorines (VOCls) in atmosphere decreases, natural sources (plants, soil, abiotic formation) are expected to dominate VOCl production in the near future. Examples of plant VOCl production are methyl chloride, and bromide emission from (sub)tropical ferns, chloroform, 1,1,1-trichloroethane and tetrachloromethane emission from temperate forest fern and moss. Temperate forests are found to emit in addition to the previous compounds tetrachloroethene, and brominated volatile compounds. VOCls can be taken up and further metabolized in plants. The aim of this work is to identify and quantitatively analyze the formed VOCls in temperate forest ecosystems by a cryofocusing/GC-ECD detection method, hence filling a gap of knowledge in the biogeochemical cycle of chlorine.

Analysis of Acoustic Emission Signal for the Detection of Defective Manufactures in Press Process

Small cracks or chips of a product appear very frequently in the course of continuous production of an automatic press process system. These phenomena become the cause of not only defective product but also damage of a press mold. In order to solve this problem AE system was introduced. AE system was expected to be very effective to real time detection of the defective product and to prevention of the damage of the press molds. In this study, for pick and analysis of AE signals generated from the press process, AE sensors/pre-amplifier/analysis and processing board were used as frequently found in the other similar cases. For analysis and processing the AE signals picked in real time from the good or bad products, specialized software called cdm8 was used. As a result of this work it was conformed that intensity and shape of the various AE signals differ depending on the weight and thickness of metal sheet and process type.

Identification of Binding Proteins That Interact with BVDV E2 Protein in Bovine Trophoblast Cell

Bovine viral diarrhea virus (BVDV) can cause lifelong persistent infection. One reason for the phenomena is attributed to BVDV infection to placenta tissue. However the mechanisms that BVDV invades into placenta tissue remain unclear. To clarify the molecular mechanisms, we investigated the possible means that BVDV entered into bovine trophoblast cells (TPC). Yeast two-hybrid system was used to identify proteins extracted from TPC, which interact with BVDV envelope glycoprotein E2. A PGbkt7-E2 yeast expression vector and TPC cDNA library were constructed. Through two rounds of screening, three positive clones were identified. Sequencing analysis indicated that all the three positive clones encoded the same protein clathrin. Physical interaction between clathrin and BVDV E2 protein was further confirmed by coimmunoprecipitation experiments. This result suggested that the clathrin might play a critical role in the process of BVDV entry into placenta tissue and might be a novel antiviral target for preventing BVDV infection.

Device for 3D Analysis of Basic Movements of the Lower Extremity

This document details the process of developing a wireless device that captures the basic movements of the foot (plantar flexion, dorsal flexion, abduction, adduction.), and the knee movement (flexion). It implements a motion capture system by using a hardware based on optical fiber sensors, due to the advantages in terms of scope, noise immunity and speed of data transmission and reception. The operating principle used by this system is the detection and transmission of joint movement by mechanical elements and their respective measurement by optical ones (in this case infrared). Likewise, Visual Basic software is used for reception, analysis and signal processing of data acquired by the device, generating a 3D graphical representation in real time of each movement. The result is a boot in charge of capturing the movement, a transmission module (Implementing Xbee Technology) and a receiver module for receiving information and sending it to the PC for their respective processing. The main idea with this device is to help on topics such as bioengineering and medicine, by helping to improve the quality of life and movement analysis.

Evaluating Service Quality of Online Auction by Fuzzy MCDM

This paper applies fuzzy set theory to evaluate the service quality of online auction. Service quality is a composition of various criteria. Among them many intangible attributes are difficult to measure. This characteristic introduces the obstacles for respondent in replying to the survey. So as to overcome this problem, we invite fuzzy set theory into the measurement of performance. By using AHP in obtaining criteria and TOPSIS in ranking, we found the most concerned dimension of service quality is Transaction Safety Mechanism and the least is Charge Item. Regarding to the most concerned attributes are information security, accuracy and information.

An Evaluation Method for Two-Dimensional Position Errors and Assembly Errors of a Rotational Table on a 4 Axis Machine Tool

This paper describes a method to measure and compensate a 4 axes ultra-precision machine tool that generates micro patterns on the large surfaces. The grooving machine is usually used for making a micro mold for many electrical parts such as a light guide plate for LCD and fuel cells. The ultra precision machine tool has three linear axes and one rotational table. Shaping is usually used to generate micro patterns. In the case of 50 μm pitch and 25 μm height pyramid pattern machining with a 90° wedge angle bite, one of linear axis is used for long stroke motion for high cutting speed and other linear axis are used for feeding. The triangular patterns can be generated with many times of long stroke of one axis. Then 90° rotation of work piece is needed to make pyramid patterns with superposition of machined two triangular patterns. To make a two dimensional positioning error, straightness of two axes in out of plane, squareness between the each axis are important. Positioning errors, straightness and squarness were measured by laser interferometer system. Those were compensated and confirmed by ISO230-6. One of difficult problem to measure the error motions is squareness or parallelism of axis between the rotational table and linear axis. It was investigated by simultaneous moving of rotary table and XY axes. This compensation method is introduced in this paper.

Human Capacity Building in Manufacturing Sector: A Factor to Industrial Growth in Nigeria

Human ability is a major source of constraint to manufacturing industries in Nigeria. This paper therefore, discusses the importance of human influences on manufacturing and consequently to industrialization and National development. In this paper, the development of manufacturing was anchored on two main factors; Infrastructural Capacity Development (ICD) and Human Capacity Development (HCD). However, a wider view was given to the HCD and the various contemporary human capacity issues militating against manufacturing in Nigeria. It went further to discuss various ways of acquiring and upgrading workers’ skills and finally, suggestions were made on how to tackle the onerous human capacity issues in manufacturing.

Quasi-ballistic Transport in Submicron Hg0.8Cd0.2Te Diodes: Hydrodynamic Modeling

In this paper, we analyze the problem of quasiballistic electron transport in ultra small of mercury -cadmiumtelluride (Hg0.8Cd0.2Te -MCT) n+-n- n+ devices from hydrodynamic point view. From our study, we note that, when the size of the active layer is low than 0.1μm and for low bias application( ( ≥ 9mV), the quasi-ballistic transport has an important effect.