Abstract: Stock portfolio selection is a classic problem in finance,
and it involves deciding how to allocate an institution-s or an individual-s
wealth to a number of stocks, with certain investment objectives
(return and risk). In this paper, we adopt the classical Markowitz
mean-variance model and consider an additional common realistic
constraint, namely, the cardinality constraint. Thus, stock portfolio
optimization becomes a mixed-integer quadratic programming problem
and it is difficult to be solved by exact optimization algorithms.
Chemical Reaction Optimization (CRO), which mimics the molecular
interactions in a chemical reaction process, is a population-based
metaheuristic method. Two different types of CRO, named canonical
CRO and Super Molecule-based CRO (S-CRO), are proposed to solve
the stock portfolio selection problem. We test both canonical CRO
and S-CRO on a benchmark and compare their performance under
two criteria: Markowitz efficient frontier (Pareto frontier) and Sharpe
ratio. Computational experiments suggest that S-CRO is promising
in handling the stock portfolio optimization problem.
Abstract: This paper objects to extend Jon Kleinberg-s research. He introduced the structure of small-world in a grid and shows with a greedy algorithm using only local information able to find route between source and target in delivery time O(log2n). His fundamental model for distributed system uses a two-dimensional grid with longrange random links added between any two node u and v with a probability proportional to distance d(u,v)-2. We propose with an additional information of the long link nearby, we can find the shorter path. We apply the ant colony system as a messenger distributed their pheromone, the long-link details, in surrounding area. The subsequence forwarding decision has more option to move to, select among local neighbors or send to node has long link closer to its target. Our experiment results sustain our approach, the average routing time by Color Pheromone faster than greedy method.
Abstract: This paper is to clarify the relationship of individual investor types, risk tolerance and herding bias. The questionnaire survey investigation is conducted to collect 389 valid and voluntary individual investors and to examine how the risk tolerance plays as a mediator between four types of personality and herding bias. Based on featuring BB&K model and reviewing the prior literature of psychology, a linear structural model are constructed and further used to evaluate the path of herding formation through the analysis of Structural Equation Modeling (SEM). The results showed that more impetuous investors would be prone to herding bias directly, but rather exhibit higher risk tolerance. However, risk tolerance would fully mediate between the level of confidence (i.e., confident or anxious) and herding bias, but not mediate between the method of action (careful or impetuous) for individual investors.
Abstract: In this paper we propose new method for
simultaneous generating multiple quantiles corresponding to given
probability levels from data streams and massive data sets. This
method provides a basis for development of single-pass low-storage
quantile estimation algorithms, which differ in complexity, storage
requirement and accuracy. We demonstrate that such algorithms may
perform well even for heavy-tailed data.
Abstract: The Bulgarian natural expanded mineral obtained from Bentonite AD perlite (A deposit of "The Broken Mountain" for perlite mining, near by the village of Vodenicharsko, in the municipality of Djebel), was loaded with silver (as ion form - Ag+ 2 and 5 wt% by the incipient wetness impregnation method), and as atomic silver - Ag0 using Tollen-s reagent (silver mirror reaction). Some physicochemical characterization of the samples are provided via: DC arc-AES, XRD, DR-IR and UV-VIS. The aim of this work was to obtain and test the silver-loaded catalyst for ozone decomposition. So the samples loaded with atomic silver show ca. 80% conversion of ozone 20 minutes after the reaction start. Then conversion decreases to ca. 20 % but stay stable during the prolongation of time.
Abstract: The development of Artificial Neural Networks
(ANNs) is usually a slow process in which the human expert has to
test several architectures until he finds the one that achieves best
results to solve a certain problem. This work presents a new
technique that uses Genetic Programming (GP) for automatically
generating ANNs. To do this, the GP algorithm had to be changed in
order to work with graph structures, so ANNs can be developed. This
technique also allows the obtaining of simplified networks that solve
the problem with a small group of neurons. In order to measure the
performance of the system and to compare the results with other
ANN development methods by means of Evolutionary Computation
(EC) techniques, several tests were performed with problems based
on some of the most used test databases. The results of those
comparisons show that the system achieves good results comparable
with the already existing techniques and, in most of the cases, they
worked better than those techniques.
Abstract: A product development for green logistics model using
the fuzzy analytic network process method is presented for evaluating
the relationships among the product design, the manufacturing
activities, and the green supply chain. In the product development
stage, there can be alternative ways to design the detailed components
to satisfy the design concept and product requirement. In different
design alternative cases, the manufacturing activities can be different.
In addition, the manufacturing activities can affect the green supply
chain of the components and product. In this research, a fuzzy analytic
network process evaluation model is presented for evaluating the
criteria in product design, manufacturing activities, and green supply
chain. The comparison matrices for evaluating the criteria among the
three groups are established. The total relational values between the
three groups represent the relationships and effects. In application, the
total relational values can be used to evaluate the design alternative
cases for decision-making to select a suitable design case and the green
supply chain. In this presentation, an example product is illustrated. It
shows that the model is useful for integrated evaluation of design and
manufacturing and green supply chain for the purpose of product
development for green logistics.
Abstract: In this paper the optimality of the solution of an
existing real word assignment problem known as the seat assignment
problem using Seat Assignment Method (SAM) is discussed. SAM is
the newly driven method from three existing methods, Hungarian
Method, Northwest Corner Method and Least Cost Method in a
special way that produces the easiness & fairness among all methods
that solve the seat assignment problem.
Abstract: Arc welding is an important joining process widely used in many industrial applications including production of automobile, ships structures and metal tanks. In welding process, the moving electrode causes highly non-uniform temperature distribution that leads to residual stresses and different deviations, especially buckling distortions in thin plates. In order to control the deviations and increase the quality of welded plates, a fixture can be used as a practical and low cost method with high efficiency. In this study, a coupled thermo-mechanical finite element model is coded in the software ANSYS to simulate the behavior of thin plates located by a 3-2-1 positioning system during the welding process. Computational results are compared with recent similar works to validate the finite element models. The agreement between the result of proposed model and other reported data proves that finite element modeling can accurately predict the behavior of welded thin plates.
Abstract: As far as the latest technological improvements are concerned, digital systems more become popular than the past. Despite this growing demand to the digital systems, content copy and attack against the digital cinema contents becomes a serious problem. To solve the above security problem, we propose “traceable watermarking using Hash functions for digital cinema system. Digital Cinema is a great application for traceable watermarking since it uses watermarking technology during content play as well as content transmission. The watermark is embedded into the randomly selected movie frames using CRC-32 techniques. CRC-32 is a Hash function. Using it, the embedding position is distributed by Hash Function so that any party cannot break off the watermarking or will not be able to change. Finally, our experimental results show that proposed DWT watermarking method using CRC-32 is much better than the convenient watermarking techniques in terms of robustness, image quality and its simple but unbreakable algorithm.
Abstract: This paper proposes a novel methodology for enabling
debugging and tracing of production web applications without
affecting its normal flow and functionality. This method of debugging
enables developers and maintenance engineers to replace a set of
existing resources such as images, server side scripts, cascading
style sheets with another set of resources per web session. The new
resources will only be active in the debug session and other sessions
will not be affected. This methodology will help developers in tracing
defects, especially those that appear only in production environments
and in exploring the behaviour of the system. A realization of the
proposed methodology has been implemented in Java.
Abstract: The purpose of this study is to design a portable virtual
piano. By utilizing optical fiber gloves and the virtual piano software
designed by this study, the user can play the piano anywhere at any
time. This virtual piano consists of three major parts: finger tapping
identification, hand movement and positioning identification, and
MIDI software sound effect simulation. To play the virtual piano, the
user wears optical fiber gloves and simulates piano key tapping
motions. The finger bending information detected by the optical fiber
gloves can tell when piano key tapping motions are made. Images
captured by a video camera are analyzed, hand locations and moving
directions are positioned, and the corresponding scales are found. The
system integrates finger tapping identification with information about
hand placement in relation to corresponding piano key positions, and
generates MIDI piano sound effects based on this data. This
experiment shows that the proposed method achieves an accuracy rate
of 95% for determining when a piano key is tapped.
Abstract: This paper presents an approach for repairing word order errors in English text by reordering words in a sentence and choosing the version that maximizes the number of trigram hits according to a language model. A possible way for reordering the words is to use all the permutations. The problem is that for a sentence with length N words the number of all permutations is N!. The novelty of this method concerns the use of an efficient confusion matrix technique for reordering the words. The confusion matrix technique has been designed in order to reduce the search space among permuted sentences. The limitation of search space is succeeded using the statistical inference of N-grams. The results of this technique are very interesting and prove that the number of permuted sentences can be reduced by 98,16%. For experimental purposes a test set of TOEFL sentences was used and the results show that more than 95% can be repaired using the proposed method.
Abstract: Graph partitioning is a NP-hard problem with multiple
conflicting objectives. The graph partitioning should minimize the
inter-partition relationship while maximizing the intra-partition
relationship. Furthermore, the partition load should be evenly
distributed over the respective partitions. Therefore this is a multiobjective
optimization problem (MOO). One of the approaches to
MOO is Pareto optimization which has been used in this paper. The
proposed methods of this paper used to improve the performance are
injecting best solutions of previous runs into the first generation of
next runs and also storing the non-dominated set of previous
generations to combine with later generation's non-dominated set.
These improvements prevent the GA from getting stuck in the local
optima and increase the probability of finding more optimal
solutions. Finally, a simulation research is carried out to investigate
the effectiveness of the proposed algorithm. The simulation results
confirm the effectiveness of the proposed method.
Abstract: The aim of the present study was to evaluate the
mucoadhesion and the release of nicotinamide gel formulations using
in vitro methods. An agar plate technique was used to investigate the
adhesiveness of the gels whereas a diffusion apparatus was employed
to determine the release of nicotinamide from the gels. In this
respect, 10% w/w nicotinamide gels containing bioadhesive
polymers: Carbopol 934P (0.5-2% w/w), hydroxypropylmethyl
cellulose (HPMC) (4-10% w/w), sodium carboxymethyl cellulose
(SCMC) (4-6% w/w) and methylcellulose 4000 (MC) (3-5% w/w)
were prepared. The gel formulations had pH values in the range of
7.14 - 8.17, which were considered appropriate to oral mucosa
application. In general, the rank order of pH values appeared to be
SCMC > MC4000 > HPMC > Carbopol 934P. Types and
concentrations of polymers used somewhat affected the
adhesiveness. It was found that anionic polymers (Carbopol 934 and
SCMC) adhered more firmly to the agar plate than the neutral
polymers (HPMC and MC 4000). The formulation containing 0.5%
Carbopol 934P (F1) showed the highest release rate. With the
exception of the formulation F1, the neutral polymers tended to give
higher relate rates than the anionic polymers. For oral tissue
treatment, the optimum has to be balanced between the residence
time (adhesiveness) of the formulations and the release rate of the
drug. The formulations containing the anionic polymers: Carbopol
934P or SCMC possessed suitable physical properties (appearance,
pH and viscosity). In addition, for anionic polymer formulations,
justifiable mucoadhesive properties and reasonable release rates of
nicotinamide were achieved. Accordingly, these gel formulations
may be applied for the treatment of oral mucosal lesions.
Abstract: The disaster from functional gastrointestinal disorders has detrimental impact on the quality of life of the effected population and imposes a tremendous social and economic burden. There are, however, rare diagnostic methods for the functional gastrointestinal disorders. Our research group identified recently that the gastrointestinal tract well in the patients with the functional gastrointestinal disorders becomes more rigid than healthy people when palpating the abdominal regions overlaying the gastrointestinal tract. Objective of current study is, therefore, identify feasibility of a diagnostic system for the functional gastrointestinal disorders based on ultrasound technique, which can quantify the characteristics above. Two-dimensional finite difference (FD) models (one normal and two rigid model) were developed to analyze the reflective characteristic (displacement) on each soft-tissue layer responded after application of ultrasound signals. The FD analysis was then based on elastic ultrasound theory. Validation of the model was performed via comparison of the characteristic of the ultrasonic responses predicted by FD analysis with that determined from the actual specimens for the normal and rigid conditions. Based on the results from FD analysis, ultrasound system for diagnosis of the functional gastrointestinal disorders was developed and clinically tested via application of it to 40 human subjects with/without functional gastrointestinal disorders who were assigned to Normal and Patient Groups. The FD models were favorably validated. The results from FD analysis showed that the maximum displacement amplitude in the rigid models (0.12 and 0.16) at the interface between the fat and muscle layers was explicitly less than that in the normal model (0.29). The results from actual specimens showed that the maximum amplitude of the ultrasonic reflective signal in the rigid models (0.2±0.1Vp-p) at the interface between the fat and muscle layers was explicitly higher than that in the normal model (0.1±0.2 Vp-p). Clinical tests using our customized ultrasound system showed that the maximum amplitudes of the ultrasonic reflective signals near to the gastrointestinal tract well for the patient group (2.6±0.3 Vp-p) were generally higher than those in normal group (0.1±0.2 Vp-p). Here, maximum reflective signals was appeared at 20mm depth approximately from abdominal skin for all human subjects, corresponding to the location of the boundary layer close to gastrointestinal tract well. These findings suggest that our customized ultrasound system using the ultrasonic reflective signal may be helpful to the diagnosis of the functional gastrointestinal disorders.
Abstract: This paper deals with the problem of non-uniform
torsion in thin-walled elastic beams with asymmetric cross-section,
removing the basic concept of a fixed center of twist, necessary in the
Vlasov-s and Benscoter-s theories to obtain a warping stress field
equivalent to zero. In this new torsion/flexure theory, despite of the
classical ones, the warping function will punctually satisfy the first
indefinite equilibrium equation along the beam axis and it wont- be
necessary to introduce the classical congruence condition, to take into
account the effect of the beam restraints. The solution, based on the
Fourier development of the displacement field, is obtained assuming
that the applied external torque is constant along the beam axis and
on both beam ends the unit twist angle and the warping axial
displacement functions are totally restrained.
Finally, in order to verify the feasibility of the proposed method
and to compare it with the classical theories, two applications are
carried out. The first one, relative to an open profile, is necessary to
test the numerical method adopted to find the solution; the second
one, instead, is relative to a simplified containership section,
considered as full restrained in correspondence of two adjacent
transverse bulkheads.
Abstract: A new method, based on the normal shrink and
modified version of Katssagelous and Lay, is proposed for multiscale
blind image restoration. The method deals with the noise and blur in
the images. It is shown that the normal shrink gives the highest S/N
(signal to noise ratio) for image denoising process. The multiscale
blind image restoration is divided in two sections. The first part of
this paper proposes normal shrink for image denoising and the
second part of paper proposes modified version of katssagelous and
Lay for blur estimation and the combination of both methods to reach
a multiscale blind image restoration.
Abstract: In this study, we consider a special situation that only a pair of hydrophone on a moving underwater vehicle is available to localize a fixed acoustic source of far distance. The trigonometry can be used in this situation by using two different DOA of different locations. Notice that the distance between the two locations should be measured. Therefore, we assume that the vehicle is sailing straightly and the moving distance for each unit time is measured continuously. However, the accuracy of the localization using the trigonometry is highly dependent to the accuracy of DOAs and measured moving distances. Therefore, we proposed another method based on the extended Kalman filter that gives more robust and accurate localization result.
Abstract: In wavelet regression, choosing threshold value is a crucial issue. A too large value cuts too many coefficients resulting in over smoothing. Conversely, a too small threshold value allows many coefficients to be included in reconstruction, giving a wiggly estimate which result in under smoothing. However, the proper choice of threshold can be considered as a careful balance of these principles. This paper gives a very brief introduction to some thresholding selection methods. These methods include: Universal, Sure, Ebays, Two fold cross validation and level dependent cross validation. A simulation study on a variety of sample sizes, test functions, signal-to-noise ratios is conducted to compare their numerical performances using three different noise structures. For Gaussian noise, EBayes outperforms in all cases for all used functions while Two fold cross validation provides the best results in the case of long tail noise. For large values of signal-to-noise ratios, level dependent cross validation works well under correlated noises case. As expected, increasing both sample size and level of signal to noise ratio, increases estimation efficiency.