Abstract: This paper discusses the value theory in cultural
heritage and the value theory in environmental economics. Two
economic views of the value theory are compared, within the field of
cultural heritage maintenance and within the field of the environment.
The main aims are to find common features in these two differently
structured theories under the layer of differently defined terms as well
as really differing features of these two approaches; to clear the
confusion which stems from different terminology as in fact these
terms capture the same aspects of reality; and to show possible
inspiration these two perspectives can offer one another. Another aim
is to present these two value systems in one value framework. First,
important moments of the value theory from the economic
perspective are presented, leading to the marginal revolution of (not
only) the Austrian School. Then the theory of value within cultural
heritage and environmental economics are explored. Finally,
individual approaches are compared and their potential mutual
inspiration searched for.
Abstract: Parabolic solar trough systems have seen limited
deployments in cold northern climates as they are more suitable for
electricity production in southern latitudes. A numerical dynamic
model is developed to simulate troughs installed in cold climates and
validated using a parabolic solar trough facility in Winnipeg. The
model is developed in Simulink and will be utilized to simulate a trigeneration
system for heating, cooling and electricity generation in
remote northern communities. The main objective of this simulation
is to obtain operational data of solar troughs in cold climates and use
the model to determine ways to improve the economics and address
cold weather issues.
In this paper the validated Simulink model is applied to simulate a
solar assisted absorption cooling system along with electricity
generation using Organic Rankine Cycle (ORC) and thermal storage.
A control strategy is employed to distribute the heated oil from solar
collectors among the above three systems considering the
temperature requirements. This modelling provides dynamic
performance results using measured meteorological data recorded
every minute at the solar facility location. The purpose of this
modeling approach is to accurately predict system performance at
each time step considering the solar radiation fluctuations due to
passing clouds. Optimization of the controller in cold temperatures is
another goal of the simulation to for example minimize heat losses in
winter when energy demand is high and solar resources are low.
The solar absorption cooling is modeled to use the generated heat
from the solar trough system and provide cooling in summer for a
greenhouse which is located next to the solar field.
The results of the simulation are presented for a summer day in
Winnipeg which includes comparison of performance parameters of
the absorption cooling and ORC systems at different heat transfer
fluid (HTF) temperatures.
Abstract: Innovation plays an important role in economic
growth and development. Evolutionary economics has entrepreneurs
at the centre of the innovation system, but includes all other
participants as contributors to the performance of the innovation
system. Education and training institutions, one of the participants in
the innovation system, contributes in different ways to human capital.
The gap in literature on the competence building as part of human
capital in the analysis of innovation systems is addressed in this
paper. The Mpumalanga Province of South Africa is used as a case
study. It was found that the absence of a university, the level of
education, the quality and performance in the education sector and
the condition of the education infrastructure have not been conducive
to learning.
Abstract: Wind energy offers a significant advantage such as no
fuel costs and no emissions from generation. However, wind energy
sources are variable and non-dispatchable. The utility grid is able to
accommodate the variability of wind in smaller proportion along with
the daily load. However, at high penetration levels, the variability can
severely impact the utility reserve requirements and the cost
associated with it. In this paper the impact of wind energy is
evaluated in detail in formulating the total utility cost. The objective
is to minimize the overall cost of generation while ensuring the
proper management of the load. Overall cost includes the curtailment
cost, reserve cost and the reliability cost, as well as any other penalty
imposed by the regulatory authority. Different levels of wind
penetrations are explored and the cost impacts are evaluated. As the
penetration level increases significantly, the reliability becomes a
critical question to be answered. Here we increase the penetration
from the wind yet keep the reliability factor within the acceptable
limit provided by NERC. This paper uses an economic dispatch (ED)
model to incorporate wind generation into the power grid. Power
system costs are analyzed at various wind penetration levels using
Linear Programming. The goal of this study is show how the
increases in wind generation will affect power system economics.
Abstract: As the economies of other countries in the
Mediterranean Basin, the tourism sector in our country has a high
denominator in economics. Tourism businesses, which are building
blocks of tourism, sector faces with a variety of problems during their
activities. These problems faced make business efficiency and
competition conditions of the businesses difficult. Most of the
problems faced by the tourism businesses and the information of
consumers about consumers’ rights were used in this study, which is
conducted to determine the problems of tourism businesses in the
Central Anatolia Region. It is aimed to contribute the awareness of
staff and executives working at tourism sector and to attract attention
of businesses active concurrently with tourism sector and legislators.
Abstract: Thanks to informational technologies development
every sphere of economics is becoming more and more datacentralized
as people are generating huge datasets containing
information on any aspect of their life. Applying research of such
data to human resources management allows getting scarce statistics
on labor market state including salary expectations and potential
employees’ typical career behavior, and this information can become
a reliable basis for management decisions.
The following article presents results of career behavior research
based on freely accessible resume data. Information used for study is
much wider than one usually uses in human resources surveys. That
is why there is enough data for statistically significant results even
for subgroups analysis.
Abstract: Estimation of a proportion has many applications in
economics and social studies. A common application is the estimation
of the low income proportion, which gives the proportion of people
classified as poor into a population. In this paper, we present this
poverty indicator and propose to use the logistic regression estimator
for the problem of estimating the low income proportion. Various
sampling designs are presented. Assuming a real data set obtained
from the European Survey on Income and Living Conditions, Monte
Carlo simulation studies are carried out to analyze the empirical
performance of the logistic regression estimator under the various
sampling designs considered in this paper. Results derived from
Monte Carlo simulation studies indicate that the logistic regression
estimator can be more accurate than the customary estimator under
the various sampling designs considered in this paper. The stratified
sampling design can also provide more accurate results.
Abstract: The applicability of Net Present Value (NPV) in an
investment project is becoming more and more popular in the field
of engineering economics. The classical NPV methodology involves
only the precise and accurate data of the investment project. In the
present communication, we give a new mathematical model for NPV
which uses the concept of intuitionistic fuzzy set theory. The proposed
model is based on triangular intuitionistic fuzzy number, which may
be known as Intuitionistic Fuzzy Net Present Value (IFNPV). The
model has been applied to an example and the results are presented.
Abstract: This paper proposes a linear mixed model (LMM) with spatial effects to forecast rice and cassava yields in Thailand at the same time. A multivariate conditional autoregressive (MCAR) model is assumed to present the spatial effects. A Bayesian method is used for parameter estimation via Gibbs sampling Markov Chain Monte Carlo (MCMC). The model is applied to the rice and cassava yields monthly data which have been extracted from the Office of Agricultural Economics, Ministry of Agriculture and Cooperatives of Thailand. The results show that the proposed model has better performance in most provinces in both fitting part and validation part compared to the simple exponential smoothing and conditional auto regressive models (CAR) from our previous study.
Abstract: The Ballast Water Convention requires less than 5% of the world tonnage for ratification. Consequently, ships will have to comply with the requirements. Compliance evaluation and enforcement will become mandatory. Ship owners have to invest in treatment systems and shipboard personnel have to operate them and ensure compliance. The monitoring and enforcement will be the responsibilities of the Administrations. Herein, a review of the current status of the Ballast Water Management and the issues faced by these are projected. Issues range from efficacy and economics of the treatment systems to sampling and testing. Health issues of chemical systems, paucity of data for decision support etc., are other issues. It is emphasized that management of ballast water must be extended to ashore and sustainable solutions must be researched upon. An exemplar treatment system based on ship’s waste heat is also suggested.
Abstract: The problem of estimating a proportion has important
applications in the field of economics, and in general, in many areas
such as social sciences. A common application in economics is
the estimation of the headcount index. In this paper, we define the
general headcount index as a proportion. Furthermore, we introduce
a new quantitative method for estimating the headcount index. In
particular, we suggest to use the logistic regression estimator for the
problem of estimating the headcount index. Assuming a real data set,
results derived from Monte Carlo simulation studies indicate that the
logistic regression estimator can be more accurate than the traditional
estimator of the headcount index.
Abstract: In the era of sustainability, utilization of livestock wastes as soil amendment to provide micronutrients for crops is very economical and sustainable. It is well understood that livestock wastes are comparable, if not better, nutrient sources for crops as chemical fertilizers. However, the large concentrated volumes of animal manure produced from livestock operations and the limited amount of available nearby agricultural land areas necessitated the need for volume reduction of these animal wastes. Composting of these animal manures is a viable option for biomass and pathogenic reduction in the environment. Nevertheless, composting also increases the potential loss of available nutrients for crop production as well as unwanted emission of anthropogenic air pollutants due to the loss of ammonia and other compounds via volatilization. In this study, we examine the emission of ammonia and nitrous oxide from swine manure windrows to evaluate the benefit of biomass reduction in conjunction with the potential loss of available nutrients. The feedstock for the windrows was obtained from swine farm in Kentucky where swine manure was mixed with wood shaving as absorbent material. Static flux chambers along with photoacoustic gas analyzer were used to monitor ammonia and nitrous oxide concentrations during the composting process. The results show that ammonia and nitrous oxide fluxes were quite high during the initial composting process and after the turning of each compost pile. Over the period of roughly three months of composting, the biochemical oxygen demand (BOD) decreased by about 90%. Although composting of animal waste is quite beneficial for biomass reduction, composting may not be economically feasible from an agronomical point of view due to time, nutrient loss (N loss), and potential environmental pollution (ammonia and greenhouse gas emissions). Therefore, additional studies are needed to assess and validate the economics and environmental impact of animal (swine) manure composting (e.g., crop yield or impact on climate change).
Abstract: This paper gives insights into the research project “InnoCyFer” (in the form of an outlook) which is funded by the German Federal Ministry of Economics and Technology. Enabling the integrated customer individual product design as well as flexible manufacturing of these products are the main objectives of the project. To achieve this, a web-based Open Innovation-Platform containing an integrated Toolkit will be developed. This toolkit enables the active integration of the customer’s creativity and potentials of innovation in the product development process. Furthermore, the project will show the chances and possibilities of customer individualized products by building and examining the continuous process from innovation through the customers to the flexible manufacturing of individual products.
Abstract: In the competitive electricity market environment, the profit of the pumped-storage plant in the energy market can be maximized by operating it as a generator, when market clearing price is high and as a pump, to pump water from lower reservoir to upper reservoir, when the price is low. An optimal self-scheduling plan has been developed for a pumped-storage plant, carried out on weekly basis in order to maximize the profit of the plant, keeping into account of all the major uncertainties such as the sudden ancillary service delivery request and the price forecasting errors. For a pumped storage power plant to operate in a real time market successive self scheduling has to be done by considering the forecast of the day-ahead market and the modified reservoir storage due to the ancillary service request of the previous day. Sliding Window Technique has been used for successive self scheduling to ensure profit for the plant.
Abstract: This paper presents the findings of the investigation of ERP implementation, challenges experiences by a South African Company in ERP implementation, success factors, failures, and propose recommendations to improve ERP implementation. The data collections methods used are questionnaires. The paper contributes to discussion on ERP implementation in developing economics.
Abstract: It is the aim of this paper to place the role of innovation in economic development in its theoretical context through a literature review. The review compares classical economic theory and the neoclassical theories of “equilibrium in the markets” and “perfectly competitive markets” with the Schumpeterian theory. It was found that Schumpeter’s role in contributing towards economic development theories, and by creating awareness of the role of innovation in these theories is of immeasurable importance. His contribution led to a change in economic thinking, although this was only realized much later than when his theories were first published. The neo-Schumpeterian thinking expanded on the Schumpeterian theory by studying innovation within a system of interaction among different role players. Studies on innovation should be founded in the neo-Schumpeterian school of thought in order to accommodate the complexity of the innovation system concept.
Abstract: In this paper, we address the problem of identifying academic reputation of researchers using scientific metrics in different research areas. Due to the characteristics of each area, researchers can present different behaviors. In previous work, we define Rep-Index that makes use of a profile template to individually identify the reputation of researchers. The Rep-Index is comprehensive and adaptive because involves hole trajectory of the researcher built throughout his career and can be used in different areas and in different contexts. Now, we compare our metric (Rep-Index) with the h-index and the g-index through experiments with researchers in the fields of Economics, Dentistry and Computer Science. We analyze the trajectory of 830 Brazilian researchers from the National Council of Technological and Scientific Development (CNPq), which receive grants research productivity. The grants are aimed at productivity researchers that stand out among their peers, enhancing their scientific normative criteria established by CNPq. Of the 830 researchers, 210 are in the area of Economics, 216 of Dentistry e 404 of Computer Science. The experiments show that our metric is strongly correlated with h-index, g-index and CNPq ranking. We also show good results for our hypothesis that our metric can be used to evaluate research in several areas. We apply our metric (Rep-Index) to compare the behavior of researchers in relation to their h-index and g-index through extensive experiments. The experiments showed that our metric is strongly correlated with h-index, g-index and CNPq ranking.
Abstract: The paper proposes an approach to ranking a set of potential countries to invest taking into account the investor point of view about importance of different economic indicators. For the goal, a ranking algorithm that contributes to rational decision making is proposed. The described algorithm is based on combinatorial optimization modeling and repeated multi-criteria tasks solution. The final result is list of countries ranked in respect of investor preferences about importance of economic indicators for investment attractiveness. Different scenarios are simulated conforming to different investors preferences. A numerical example with real dataset of indicators is solved. The numerical testing shows the applicability of the described algorithm. The proposed approach can be used with any sets of indicators as ranking criteria reflecting different points of view of investors.
Abstract: The Korean government has applied preliminary feasibility study for a new R&D program over about $50 Million since 2008 as a part of official process in budget planning. The investigations of technology, policy, and economics are carried out separately to arrive at a definite result: whether a program is feasible or unfeasible. This paper describes the concept and check-points related to technological analysis from a preliminary evaluation’s stand-point. First of all, the fundamental concept of technological analysis in evaluation systems such as Program Assessment Rating Tool (PART) by Office of Management and Budget (OMB) and Evaluation Methods by Department of Energy (DOE) in the United States, the Green Book in the United Kingdom are reviewed. After the review, customized questionnaire for technological analysis are developed. Conclusively, limitations and further research directions are provided.
Abstract: Taiwan was the first country in Asia to announce
“Nuclear-Free Homeland" in 2002. In 2008, the new government
released the Sustainable Energy Policy Guidelines to lower the
nationwide CO2 emissions some time between 2016 and 2020 back to
the level of year 2008, further abatement of CO2 emissions is planed in
year 2025 when CO2 emissions will decrease to the level of year 2000.
Besides, under consideration of the issues of energy, environment and
economics (3E), the new government declared that the nuclear power
is a carbon-less energy option. This study analyses the effects of
nuclear power generation for CO2 abatement scenarios in Taiwan. The
MARKAL-MACRO energy model was adopted to evaluate economic
impacts and energy deployment due to life extension of existing
nuclear power plants and build new nuclear power units in CO2
abatement scenarios. The results show that CO2 abatement effort is
expensive. On the other hand, nuclear power is a cost-effective choice.
The GDP loss rate in the case of building new nuclear power plants is
around two thirds of the Nuclear-Free Homeland case. Nuclear power
generation has the capacity to provide large-scale CO2 free electricity.
Therefore, the results show that nuclear power is not only an option for
Taiwan, but also a requisite for Taiwan-s CO2 reduction strategy.