Abstract: Pricing financial contracts on several underlying assets
received more and more interest as a demand for complex derivatives.
The option pricing under asset price involving jump diffusion
processes leads to the partial integral differential equation (PIDEs),
which is an extension of the Black-Scholes PDE with a new integral
term. The aim of this paper is to show how basket option prices
in the jump diffusion models, mainly on the Merton model, can
be computed using RBF based approximation methods. For a test
problem, the RBF-PU method is applied for numerical solution
of partial integral differential equation arising from the two-asset
European vanilla put options. The numerical result shows the
accuracy and efficiency of the presented method.
Abstract: Hard seeds will not grow and can cause mold in sprouting process. Thus, the hard seeds need to be separated from the normal seeds. Near infrared hyperspectral imaging in a range of 900 to 1700 nm was implemented to develop a model by partial least squares discriminant analysis to discriminate the hard seeds from the normal seeds. The orientation of the seeds was also studied to compare the performance of the models. The model based on hilum-up orientation achieved the best result giving the coefficient of determination of 0.98, and root mean square error of prediction of 0.07 with classification accuracy was equal to 100%.
Abstract: The dynamic and highly competitive nature of the consumer electronics retail industry means that businesses in this industry are experiencing different decision making challenges in relation to pricing, inventory control, consumer satisfaction and product offerings. To overcome the challenges facing retailers and create opportunities, we propose a generic data warehousing solution which can be applied to a wide range of consumer electronics retailers with a minimum configuration. The solution includes a dimensional data model, a template SQL script, a high level architectural descriptions, ETL tool developed using C#, a set of APIs, and data access tools. It has been successfully applied by ASK Outlets Ltd UK resulting in improved productivity and enhanced sales growth.
Abstract: We show that a simple transformation between the regular lattices (the square, the triangular, and the honeycomb) belonging to the same dimensionality can explain in a natural way the universality of the critical exponents found in phase transitions and critical phenomena. It suffices that the Hamiltonian and the lattice present similar writing forms. In addition, it appears that if a property can be calculated for a given lattice then it can be extrapolated simply to any other lattice belonging to the same dimensionality. In this study, we have restricted ourselves on the spectral power amplification (SPA), we note that the SPA does not have an effect on the critical exponents but does have an effect by the criticality temperature of the lattice; the generalisation to other lattice could be shown according to the containment principle.
Abstract: The use of CO2 in oil recovery and in CO2 capture and storage is gaining traction in recent years. These applications involve heat transfer between CO2 and the base fluid, and hence, there arises a need to improve the thermal conductivity of CO2 to increase the process efficiency and reduce cost. One way to improve the thermal conductivity is through nanoparticle addition in the base fluid. The nanofluid model in this study consisted of copper (Cu) nanoparticles in varying concentrations with CO2 as a base fluid. No experimental data are available on thermal conductivity of CO2 based nanofluid. Molecular dynamics (MD) simulations are an increasingly adopted tool to perform preliminary assessments of nanoparticle (NP) fluid interactions. In this study, the effect of the formation of a nanolayer (or molecular layering) at the gas-solid interface on thermal conductivity is investigated using equilibrium MD simulations by varying NP diameter and keeping the volume fraction (1.413%) of nanofluid constant to check the diameter effect of NP on the nanolayer and thermal conductivity. A dense semi-solid fluid layer was seen to be formed at the NP-gas interface, and the thickness increases with increase in particle diameter, which also moves with the NP Brownian motion. Density distribution has been done to see the effect of nanolayer, and its thickness around the NP. These findings are extremely beneficial, especially to industries employed in oil recovery as increased thermal conductivity of CO2 will lead to enhanced oil recovery and thermal energy storage.
Abstract: With the growth of online learning, several higher education institutions have attempted to incorporate technology in their curriculum. Successful technology implementation projects really on technology infrastructure and on the acceptance of education professionals towards innovation. This research study is aimed at illustrating the relevance of the human component in technology implementation projects in higher education by describing the Learning Management System implementation project executed by instructional designers working for a higher education institution in the southeast region of the United States. An analysis of the Transformative Leadership Theory, the Technology Acceptance Model, and the Diffusion of Innovation Process provide the support for a solid understanding of this issue and address recommendations for future technology implementation projects in higher education institutions.
Abstract: In the paper we make linear and non-linear stability
analyses of Rayleigh-Bénard convection of a Newtonian nanoliquid
in a rotating medium (called as Rayleigh-Bénard-Taylor convection).
Rigid-rigid isothermal boundaries are considered for investigation.
Khanafer-Vafai-Lightstone single phase model is used for studying
instabilities in nanoliquids. Various thermophysical properties of
nanoliquid are obtained using phenomenological laws and mixture
theory. The eigen boundary value problem is solved for the Rayleigh
number using an analytical method by considering trigonometric
eigen functions. We observe that the critical nanoliquid Rayleigh
number is less than that of the base liquid. Thus the onset of
convection is advanced due to the addition of nanoparticles. So,
increase in volume fraction leads to advanced onset and thereby
increase in heat transport. The amplitudes of convective modes
required for estimating the heat transport are determined analytically.
The tri-modal standard Lorenz model is derived for the steady state
assuming small scale convective motions. The effect of rotation on
the onset of convection and on heat transport is investigated and
depicted graphically. It is observed that the onset of convection is
delayed due to rotation and hence leads to decrease in heat transport.
Hence, rotation has a stabilizing effect on the system. This is due to
the fact that the energy of the system is used to create the component
V. We observe that the amount of heat transport is less in the case
of rigid-rigid isothermal boundaries compared to free-free isothermal
boundaries.
Abstract: Construction technology and on-site construction activities have a direct influence on the life cycle costs of energy efficiently renovated apartment buildings. The systematic inadequacies of the External Thermal Insulation Composite System (ETICS) which occur during the construction phase increase the risk for all stakeholders, reduce mechanical durability and increase the life cycle costs of the building. The economic effect of these shortcomings can be minimised if the risk of the most significant on-site activities is recognised. The objective of the presented ETICS economic assessment concept is to evaluate the economic influence of on-site shortcomings and reveal their significance to the foreseeable future repair costs. The model assembles repair techniques, discusses their direct cost calculation methods, argues over the proper usage of net present value over the life cycle of the building, and proposes a simulation tool to evaluate the risk of on-site activities. As the technique is dependent on the selected real interest rate, a sensitivity analysis is anticipated to determine the validity of the recommendations. After the verification of the model on the sample buildings by the industry, it is expected to increase economic rationality of resource allocation and reduce high-risk systematic shortcomings during the construction process of ETICS.
Abstract: In this research, effect of curing time (TC), curing temperature (CT), sodium concentration (SC) and silicate modules (SM) on the compressive strength, chloride ion permeability, and water absorption capacity of alkali activated slag (AAS) concretes were investigated. For maximization of compressive strength while for minimization of chloride ion permeability and water absorption capacity of AAS concretes, best possible combination of CT, CTime, SC and SM were determined. An experimental program was conducted by using the central composite design method. Alkali solution-slag ratio was kept constant at 0.53 in all mixture. The effects of the independent parameters were characterized and analyzed by using statistically significant quadratic regression models on the measured properties (dependent parameters). The proposed regression models are valid for AAS concretes with the SC from 0.1% to 7.5%, SM from 0.4 to 3.2, CT from 20 °C to 94 °C and TC from 1.2 hours to 25 hours. The results of test and analysis indicate that the most effective parameter for the compressive strength, chloride ion permeability and water absorption capacity is the sodium concentration.
Abstract: Because of its flexibility, CES attracts much interest in economic growth and programming models, and the macroeconomics or micro-macro models. This paper focuses on the development, estimating methods of CES production function considering energy as an input. We leave for future research work of relaxing the assumption of constant returns to scale, the introduction of potential input factors, and the generalization method of the optimal nested form of multi-factor production functions.
Abstract: The paper intends to highlight the significance of Digital Manufacturing (DM) strategy in support and achievement of business strategy and goals of any manufacturing organization. Towards this end, DM initiatives have been given a process perspective, while not undermining its technological significance, with a view to link its benefits directly with fulfilment of customer needs and expectations in a responsive and cost-effective manner. A digital process model has been proposed to categorize digitally enabled organizational processes with a view to create synergistic groups, which adopt and use digital tools having similar characteristics and functionalities. This will throw future opportunities for researchers and developers to create a unified technology environment for integration and orchestration of processes. Secondly, an effort has been made to apply “what” and “how” features of Quality Function Deployment (QFD) framework to establish the relationship between customers’ needs – both for external and internal customers, and the features of various digital processes, which support for the achievement of these customer expectations. The paper finally concludes that in the present highly competitive environment, business organizations cannot thrive to sustain unless they understand the significance of digital strategy and integrate it with their business strategy with a clearly defined implementation roadmap. A process-oriented approach to DM strategy will help business executives and leaders to appreciate its value propositions and its direct link to organization’s competitiveness.
Abstract: Useful information has been extracted from the
road accident data in United Kingdom (UK), using data analytics
method, for avoiding possible accidents in rural and urban areas.
This analysis make use of several methodologies such as data
integration, support vector machines (SVM), correlation machines
and multinomial goodness. The entire datasets have been imported
from the traffic department of UK with due permission. The
information extracted from these huge datasets forms a basis for
several predictions, which in turn avoid unnecessary memory
lapses. Since data is expected to grow continuously over a period
of time, this work primarily proposes a new framework model
which can be trained and adapt itself to new data and make
accurate predictions. This work also throws some light on use of
SVM’s methodology for text classifiers from the obtained traffic
data. Finally, it emphasizes the uniqueness and adaptability of
SVMs methodology appropriate for this kind of research work.
Abstract: In order to monitor the thermal behavior of an
asynchronous machine with squirrel cage rotor, a 9th-order extended
Kalman filter (EKF) algorithm is implemented to estimate the
temperatures of the stator windings, the rotor cage and the stator
core. The state-space equations of EKF are established based on
the electrical, mechanical and the simplified thermal models of an
asynchronous machine. The asynchronous machine with simplified
thermal model in Dymola is compiled as DymolaBlock, a physical
model in MATLAB/Simulink. The coolant air temperature, three-phase
voltages and currents are exported from the physical model and are
processed by EKF estimator as inputs. Compared to the temperatures
exported from the physical model of the machine, three parts of
temperatures can be estimated quite accurately by the EKF estimator.
The online EKF estimator is independent from the machine control
algorithm and can work under any speed and load condition if the
stator current is nonzero current system.
Abstract: The study was conducted to assess the impact of conservation agriculture practice on farmers’ socioeconomic condition and soil environmental quality in Bangladesh. A total of 450 (i.e., 50 focal, 150 proximal and 250 control) farmers from five districts were selected for this study. Descriptive statistics like sum, averages, percentages, etc. were calculated to evaluate the socioeconomic data. Using Enyedi’s crop productivity index, it was found that the crop productivity of focal, proximal and control farmers was increased by 0.9, 1.2 and 1.3 percent, respectively. The result of DID (Difference-in-difference) analysis indicated that the impact of conservation agriculture practice on farmers’ average annual income was significant. Multidimensional poverty index (MPI) indicates that poverty in terms of deprivation of health, education and living standards was decreased; and a remarkable improvement in farmers’ socioeconomic status was found after adopting conservation agriculture practice. Most of the focal and proximal farmers stated about increased soil environmental condition where majority of control farmers stated about constant environmental condition in this regard. The Probit model reveals that minimum tillage operation, permanent organic soil cover, and application of compost and vermicompost were found significant factors affecting soil environmental quality under conservation agriculture. Input support, motivation, training programmes and extension services are recommended to implement in order to raise the awareness and enrich the knowledge of the farmers on conservation agriculture practice.
Abstract: T7 phage could be used as a perfect vector for peptides expression and haptens presentation. T7-3GnRH recombinant phage was constructed by inserting three copies of Gonadotrophin Releasing Hormone (GnRH) gene into the multiple cloning site of T7 Select 415-1b phage genome. The positive T7-3GnRH phage was selected by using polymerase chain reaction amplification, and the p10B-3GnRH fusion protein was verified by SDS-PAGE and Western-blotting assay. T7-3GnRH vaccine was made and immunized with 1010 pfu in 0.2 ml per dose in mice. Blood samples were collected at an interval in weeks, and anti-GnRH antibody and testosterone concentrations were detected by ELISA and radioimmunoassay, respectively. The results show that T7-3GnRH phage particles confer a high immunogenicity to the GnRH-derived epitope. Moreover, the T7-3GnRH vaccine induced higher level of anti-GnRH antibody than ImproVac®. However, the testosterone concentrations in both immunized groups were at a similar level, and the testis developments were significantly inhibited compared to controls. These findings demonstrated that the anti-GnRH antibody could neutralize the endogenous GnRH to down regulate testosterone level and limit testis development, highlighting the potential value of T7-3GnRH in the immunocastration vaccine research.
Abstract: In the petroleum industry, solid particles are often present along with the produced fluids. It is imperative to keep particles from accumulating in flow lines. In this study, various experiments are conducted to study sand particle transport, where critical velocity is defined as the average fluid velocity to keep particles continuously moving. Many parameters related to the fluid, particles and pipe affect the transport process. Experimental results are presented varying the particle concentration. Additionally, CFD simulations using a discrete element modeling (DEM) approach are presented to compare with experimental result.
Abstract: Biba model can protect information integrity but might
deny various non-malicious access requests of the subjects, thereby
decreasing the availability in the system. Therefore, a mechanism that
allows exceptional access control is needed. Break the Glass (BTG)
strategies refer an efficient means for extending the access rights of
users in exceptional cases. These strategies help to prevent a system
from stagnation. An approach is presented in this work for integrating
Break the Glass strategies into the Biba model. This research proposes
a model, BTG-Biba, which provides both an original Biba model used
in normal situations and a mechanism used in emergency situations.
The proposed model is context aware, can implement a fine-grained
type of access control and primarily solves cross-domain access
problems. Finally, the flexibility and availability improvement with
the use of the proposed model is illustrated.
Abstract: Currently, resource sharing and system security are
critical issues. This paper proposes a POL module composed of
PRIV ILEGE attribute (PA), obligation and log which improves
attribute based access control (ABAC) model in dynamically granting
authorizations and revoking authorizations. The following describes
the new model termed PABAC in terms of the POL module
structure, attribute definitions, policy formulation and authorization
architecture, which demonstrate the advantages of it. The POL
module addresses the problems which are not predicted before and
not described by access control policy. It can be one of the subject
attributes or resource attributes according to the practical application,
which enhances the flexibility of the model compared with ABAC.
A scenario that illustrates how this model is applied to the real world
is provided.
Abstract: Documented experiences of industrial symbiosis are always triggered and driven only by economic goals: environmental and (even rarely) social results are sometimes assessed and declared as effects of virtuous behaviours, but are merely casual and un-pursued side externalities. Even worse: all the symbiotic project candidates entailing economic loss for just one of the (also dozen) partners are simply stopped without considering the overall benefit for the whole partnership. The here-presented approach aims at providing methodologies and tools to effectively manage these situations and fostering the implementation of virtuous symbiotic investments in manufacturing aggregations for a more sustainable production.
Abstract: The purpose of this study is providing an improved mode choice model considering parameters including age grouping of prime-aged and old age. In this study, 2010 Household Travel Survey data were used and improper samples were removed through the analysis. Chosen alternative, date of birth, mode, origin code, destination code, departure time, and arrival time are considered from Household Travel Survey. By preprocessing data, travel time, travel cost, mode, and ratio of people aged 45 to 55 years, 55 to 65 years and over 65 years were calculated. After the manipulation, the mode choice model was constructed using LIMDEP by maximum likelihood estimation. A significance test was conducted for nine parameters, three age groups for three modes. Then the test was conducted again for the mode choice model with significant parameters, travel cost variable and travel time variable. As a result of the model estimation, as the age increases, the preference for the car decreases and the preference for the bus increases. This study is meaningful in that the individual and households characteristics are applied to the aggregate model.