Abstract: Due to the increasing and varying risks that economic units face with, derivative instruments gain substantial importance, and trading volumes of derivatives have reached very significant level. Parallel with these high trading volumes, researchers have developed many different models. Some are parametric, some are nonparametric. In this study, the aim is to analyse the success of artificial neural network in pricing of options with S&P 100 index options data. Generally, the previous studies cover the data of European type call options. This study includes not only European call option but also American call and put options and European put options. Three data sets are used to perform three different ANN models. One only includes data that are directly observed from the economic environment, i.e. strike price, spot price, interest rate, maturity, type of the contract. The others include an extra input that is not an observable data but a parameter, i.e. volatility. With these detail data, the performance of ANN in put/call dimension, American/European dimension, moneyness dimension is analyzed and whether the contribution of the volatility in neural network analysis make improvement in prediction performance or not is examined. The most striking results revealed by the study is that ANN shows better performance when pricing call options compared to put options; and the use of volatility parameter as an input does not improve the performance.
Abstract: Modeling of a heterogeneous industrial fixed bed
reactor for selective dehydrogenation of heavy paraffin with Pt-Sn-
Al2O3 catalyst has been the subject of current study. By applying
mass balance, momentum balance for appropriate element of reactor
and using pressure drop, rate and deactivation equations, a detailed
model of the reactor has been obtained. Mass balance equations have
been written for five different components. In order to estimate
reactor production by the passage of time, the reactor model which is
a set of partial differential equations, ordinary differential equations
and algebraic equations has been solved numerically.
Paraffins, olefins, dienes, aromatics and hydrogen mole percent as
a function of time and reactor radius have been found by numerical
solution of the model. Results of model have been compared with
industrial reactor data at different operation times. The comparison
successfully confirms validity of proposed model.
Abstract: The paper reviews the relationship between spatial
and transportation planning in the Southern African Development
Community (SADC) region of Sub-Saharan Africa. It argues that
most urbanisation in the region has largely occurred subsequent to
the 1950s and, accordingly, urban development has been
profoundly and negatively affected by the (misguided) spatial and
institutional tenets of modernism. It demonstrates how a
considerable amount of the poor performance of these settlements
can be directly attributed to this. Two factors in particular about the
planning systems are emphasized: the way in which programmatic
land-use planning lies at the heart of both spatial and transportation
planning; and the way on which transportation and spatial planning
have been separated into independent processes. In the final
section, the paper identifies ways of improving the planning
system. Firstly, it identifies the performance qualities which
Southern African settlements should be seeking to achieve.
Secondly, it focuses on two necessary arenas of change: the need to
replace programmatic land-use planning practices with structuralspatial
approaches; and it makes a case for making urban corridors
a spatial focus of integrated planning, as a way of beginning the
restructuring and intensification of settlements which are currently
characterised by sprawl, fragmentation and separation
Abstract: Information is increasing in volumes; companies are overloaded with information that they may lose track in getting the intended information. It is a time consuming task to scan through each of the lengthy document. A shorter version of the document which contains only the gist information is more favourable for most information seekers. Therefore, in this paper, we implement a text summarization system to produce a summary that contains gist information of oil and gas news articles. The summarization is intended to provide important information for oil and gas companies to monitor their competitor-s behaviour in enhancing them in formulating business strategies. The system integrated statistical approach with three underlying concepts: keyword occurrences, title of the news article and location of the sentence. The generated summaries were compared with human generated summaries from an oil and gas company. Precision and recall ratio are used to evaluate the accuracy of the generated summary. Based on the experimental results, the system is able to produce an effective summary with the average recall value of 83% at the compression rate of 25%.
Abstract: Weather disaster events were frequent and caused loss
of lives and property in Taiwan recently. Excessive concentration of
population and lacking of integrated planning led to Taiwanese coastal
zone face the impacts of climate change directly. Comparing to many
countries which have already set up legislation, competent authorities
and national adaptation strategies, the ability of coastal management
adapting to climate change is still insufficient in Taiwan. Therefore, it
is necessary to establish a complete institutional arrangement for
coastal management due to climate change in order to protect
environment and sustain socio-economic development. This paper
firstly reviews the impact of climate change on Taiwanese coastal
zone. Secondly, development of Taiwanese institutional arrangement
of coastal management is introduced. Followed is the analysis of four
dimensions of legal basis, competent authority, scientific and financial
support and international cooperations of institutional arrangement.
The results show that Taiwanese government shall: 1) integrate climate
change issue into Coastal Act, Wetland Act and territorial planning
Act and pass them; 2) establish the high level competent authority for
coastal management; 3) set up the climate change disaster coordinate
platform; 4) link scientific information and decision markers; 5)
establish the climate change adjustment fund; 6) participate in
international climate change organizations and meetings actively; 7)
cooperate with near countries to exchange experiences.
Abstract: Synthesis gas manufacturing by steam reforming of hydrocarbons is an important industrial process. High endothermic nature of the process makes it one of the most cost and heat intensive processes. In the present work, composite effect of different inert gases on synthesis gas yield, feed gas conversion and temperature distribution along the reactor length has been studied using a heterogeneous model. Mathematical model was developed as a first stage and validated against the existing process models. With the addition of inert gases, a higher yield of synthesis gas is observed. Simultaneously the rector outlet temperature drops to as low as 810 K. It was found that Xenon gives the highest yield and conversion while Helium gives the lowest temperature. Using Xenon inert gas 20 percent reduction in outlet temperature was observed compared to traditional case.
Abstract: This paper presents two simplified models to
determine nodal voltages in power distribution networks. These
models allow estimating the impact of the installation of reactive
power compensations equipments like fixed or switched capacitor
banks. The procedure used to develop the models is similar to the
procedure used to develop linear power flow models of transmission
lines, which have been widely used in optimization problems of
operation planning and system expansion. The steady state non-linear
load flow equations are approximated by linear equations relating the
voltage amplitude and currents. The approximations of the linear
equations are based on the high relationship between line resistance
and line reactance (ratio R/X), which is valid for power distribution
networks. The performance and accuracy of the models are evaluated
through comparisons with the exact results obtained from the
solution of the load flow using two test networks: a hypothetical
network with 23 nodes and a real network with 217 nodes.
Abstract: This research was conducted for the first time at the
southeastern coasts of the Caspian Sea in order to evaluate the
performance of osteichthyes cooperatives through production (catch)
function. Using one of the indirect valuation methods in this research,
contributory factors in catch were identified and were inserted into
the function as independent variables. In order to carry out this
research, the performance of 25 Osteichthyes catching cooperatives
in the utilization year of 2009 which were involved in fishing in
Miankale wildlife refuge region. The contributory factors in catch
were divided into groups of economic, ecological and biological
factors. In the mentioned function, catch rate of the cooperative were
inserted into as the dependant variable and fourteen partial variables
in terms of nine general variables as independent variables. Finally,
after function estimation, seven variables were rendered significant at
99 percent reliably level. The results of the function estimation
indicated that human resource (fisherman quantity) had the greatest
positive effect on catch rate with an influence coefficient of 1.7 while
weather conditions had the greatest negative effect on the catch rate
of cooperatives with an influence coefficient of -2.07. Moreover,
factors like member's share, experience and fisherman training and
fishing effort played the main roles in the catch rate of cooperative
with influence coefficients of 0.81, 0.5 and 0.21, respectively.
Abstract: The research objective of the project and article
“European Ecological Network Natura 2000 – opportunities and
threats” Natura 2000 sites constitute a form of environmental
protection, several legal problems are likely to result. Most
controversially, certain sites will be subject to two regimes of
protection: as national parks and as Natura 2000 sites. This dualism
of the legal regulation makes it difficult to perform certain legal
obligations related to the regimes envisaged under each form of
environmental protection. Which regime and which obligations
resulting from the particular form of environmental protection have
priority and should prevail? What should be done if these obligations
are contradictory? Furthermore, an institutional problem consists in
that no public administration authority has the power to resolve legal
conflicts concerning the application of a particular regime on a given
site. There are also no criteria to decide priority and superiority of
one form of environmental protection over the other. Which
regulations are more important, those that pertain to national parks or
to Natura 2000 sites? In the light of the current regulations, it is
impossible to give a decisive answer to these questions. The internal
hierarchy of forms of environmental protection has not been
determined, and all such forms should be treated equally.
Abstract: Background: Dialign is a DNA/Protein alignment tool
for performing pairwise and multiple pairwise alignments through the
comparison of gap-free segments (fragments) between sequence
pairs. An alignment of two sequences is a chain of fragments, i.e
local gap-free pairwise alignments, with the highest total score.
METHOD: A new approach is defined in this article which relies on
the concept of using three-dimensional fragments – i.e. local threeway
alignments -- in the alignment process instead of twodimensional
ones. These three-dimensional fragments are gap-free
alignments constituting of equal-length segments belonging to three
distinct sequences. RESULTS: The obtained results showed good
improvments over the performance of DIALIGN.
Abstract: This study applied Theory of Planned Behaviour
(TPB) to explain the knowledge sharing behaviour among academic
staff at a Public Higher Education Institution (HEI) in Malaysia. The
main objectives of this study are; to identify the components that
influence knowledge sharing behaviour and to determine the levels of
knowledge sharing behaviour among academic staff. A total of 200
respondents were participated in answering questionnaires. The
findings of this study revealed that level of perceiving and
implementing knowledge sharing behaviour among academic staff at
a Public HEI in Malaysia exist but not openly or strongly practiced.
The findings were discussed and recommendations for the future
research were also addressed.
Abstract: The necessity of accurate and timely field data is
shared among organizations engaged in fundamentally different
activities, public services or commercial operations. Basically, there
are three major components in the process of the qualitative research:
data collection, interpretation and organization of data, and analytic
process. Representative technological advancements in terms of
innovation have been made in mobile devices (mobile phone, PDA-s,
tablets, laptops, etc). Resources that can be potentially applied on the
data collection activity for field researches in order to improve this
process.
This paper presents and discuss the main features of a mobile
phone based solution for field data collection, composed of basically
three modules: a survey editor, a server web application and a client
mobile application. The data gathering process begins with the
survey creation module, which enables the production of tailored
questionnaires. The field workforce receives the questionnaire(s) on
their mobile phones to collect the interviews responses and sending
them back to a server for immediate analysis.
Abstract: This paper presents the significant factor and give
some suggestion that should know before design. The main objective of this paper is guide the first step for someone who attends to design of grounding system before study in details later. The overview of
grounding system can protect damage from fault such as can save a human life and power system equipment. The unsafe conditions have
three cases. Case 1) maximum touch voltage exceeds the safety
criteria. In this case, the conductor compression ratio of the ground gird should be first adjusted to have optimal spacing of ground grid
conductors. If it still over limit, earth resistivity should be consider afterward. Case 2) maximum step voltage exceeds the safety criteria.
In this case, increasing the number of ground grid conductors around
the boundary can solve this problem. Case 3) both of maximum touch
and step voltage exceed the safety criteria. In this case, follow the solutions explained in case 1 and case 2. Another suggestion, vary depth of ground grid until maximum step and touch voltage do not
exceed the safety criteria.
Abstract: We propose that Virtual Learning Environments (VLEs) should be designed by taking into account the characteristics, the special needs and the specific operating rules of the academic institutions in which they are employed. In this context, we describe a VLE module that extends the support of the organization and delivery of course material by including administration activities related to the various stages of teaching. These include the co-ordination, collaboration and monitoring of the course material development process and institution-specific course material delivery modes. Our specialized module, which enhances VLE capabilities by Helping Educators and Learners through a Laboratory Assistance System, is willing to assist the Greek tertiary technological sector, which includes Technological Educational Institutes (T.E.I.).
Abstract: In this paper a new approach to face recognition is
presented that achieves double dimension reduction, making the
system computationally efficient with better recognition results and
out perform common DCT technique of face recognition. In pattern
recognition techniques, discriminative information of image
increases with increase in resolution to a certain extent, consequently
face recognition results change with change in face image resolution
and provide optimal results when arriving at a certain resolution
level. In the proposed model of face recognition, initially image
decimation algorithm is applied on face image for dimension
reduction to a certain resolution level which provides best
recognition results. Due to increased computational speed and feature
extraction potential of Discrete Cosine Transform (DCT), it is
applied on face image. A subset of coefficients of DCT from low to
mid frequencies that represent the face adequately and provides best
recognition results is retained. A tradeoff between decimation factor,
number of DCT coefficients retained and recognition rate with
minimum computation is obtained. Preprocessing of the image is
carried out to increase its robustness against variations in poses and
illumination level. This new model has been tested on different
databases which include ORL , Yale and EME color database.
Abstract: As in other countries from Central and Eastern Europe,
the economic restructuring occurred in the last decade of the
twentieth century affected the mining industry in Romania, an
oversize and heavily subsidized sector before 1989. After more than
a decade since the beginning of mining restructuring, an evaluation
of current social implications of the process it is required, together
with an efficiency analysis of the adaptation mechanisms developed
at governmental level. This article aims to provide an insight into
these issues through case studies conducted in the most important
coal basin of Romania, Petroşani Depression.
Abstract: In a particular case of behavioural model reduction by ANNs, a validity domain shortening has been found. In mechanics, as in other domains, the notion of validity domain allows the engineer to choose a valid model for a particular analysis or simulation. In the study of mechanical behaviour for a cantilever beam (using linear and non-linear models), Multi-Layer Perceptron (MLP) Backpropagation (BP) networks have been applied as model reduction technique. This reduced model is constructed to be more efficient than the non-reduced model. Within a less extended domain, the ANN reduced model estimates correctly the non-linear response, with a lower computational cost. It has been found that the neural network model is not able to approximate the linear behaviour while it does approximate the non-linear behaviour very well. The details of the case are provided with an example of the cantilever beam behaviour modelling.
Abstract: This paper presents the experimental results of silicone rubber polymer insulators for 22 kV systems under salt water dip wheel test based on IEC 62217. Straight shed silicone rubber polymer insulators having leakage distance 685 mm were tested continuously 30,000 cycles. One test cycle includes 4 positions, energized, de-energized, salt water dip and deenergized, respectively. For one test cycle, each test specimen remains stationary for about 40 second in each position and takes 8 second for rotate to next position. By visual observation, sever surface erosion was observed on the trunk near the energized end of tested specimen. Puncture was observed on the upper shed near the energized end. In addition, decreasing in hydrophobicity and increasing in hardness were measured on tested specimen comparing with new specimen. Furthermore, chemical analysis by ATR-FTIR was conducted in order to elucidate the chemical change of tested specimens comparing with new specimen.
Abstract: A new concept for long-term reagent storage for Labon- a-Chip (LoC) devices is described. Here we present a polymer multilayer stack with integrated stick packs for long-term storage of several liquid reagents, which are necessary for many diagnostic applications. Stick packs are widely used in packaging industry for storing solids and liquids for long time. The storage concept fulfills two main requirements: First, a long-term storage of reagents in stick packs without significant losses and interaction with surroundings, second, on demand releasing of liquids, which is realized by pushing a membrane against the stick pack through pneumatic pressure. This concept enables long-term on-chip storage of liquid reagents at room temperature and allows an easy implementation in different LoC devices.
Abstract: In most of the cases, natural disasters lead to the
necessity of evacuating people. The quality of evacuation
management is dramatically improved by the use of information
provided by decision support systems, which become indispensable
in case of large scale evacuation operations. This paper presents a
best practice case study. In November 2007, officers from the
Emergency Situations Inspectorate “Crisana" of Bihor County from
Romania participated to a cross-border evacuation exercise, when
700 people have been evacuated from Netherlands to Belgium. One
of the main objectives of the exercise was the test of four different
decision support systems. Afterwards, based on that experience,
software system called TEVAC (Trans Border Evacuation) has been
developed “in house" by the experts of this institution. This original
software system was successfully tested in September 2008, during
the deployment of the international exercise EU-HUROMEX 2008,
the scenario involving real evacuation of 200 persons from Hungary
to Romania. Based on the lessons learned and results, starting from
April 2009, the TEVAC software is used by all Emergency
Situations Inspectorates all over Romania.