Search results for: temporary price reduction

Authors: Mohsen Akhlaghi, Tahereh Ebrahimi

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Pricing strategy is a vital component in achieving the balance between customer value and business profitability. The aim of this study is to provide insights into the factors, techniques, and approaches involved in pricing decisions. The study utilizes a descriptive approach to discuss various aspects of pricing strategy in marketing, drawing on concepts from market research, consumer psychology, competitive analysis, and adaptability. This approach presents a comprehensive view of pricing decisions. The result of this exploration is a framework that highlights key factors influencing pricing decisions. The study examines how factors such as market positioning, product differentiation, and brand image shape pricing strategies. Additionally, it emphasizes the role of consumer psychology in understanding price elasticity, perceived value, and price-quality associations that influence consumer behavior. Various pricing techniques, including charm pricing, prestige pricing, and bundle pricing, are mentioned as methods to enhance sales by influencing consumer perceptions. The study also underscores the importance of adaptability in responding to market dynamics through regular price monitoring, dynamic pricing, and promotional strategies. It recognizes the role of digital platforms in enabling personalized pricing and dynamic pricing models. In conclusion, the study emphasizes that effective pricing strategies strike a balance between customer value and business profitability, ultimately driving sales, enhancing brand perception, and fostering lasting customer relationships.

Keywords: business, customer benefits, marketing, pricing

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Authors: Şehri Çınar, Aydın Akın

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This study was conducted Razakı grape variety (Vitis vinifera L.) and its vine which was aged 19 was grown on 5 BB rootstock in a vegetation period of 2014 in Afyon province in Turkey. In this research, it was investigated whether the applications of Control (C), 1/3 Cluster Tip Reduction (1/3 CTR), Shoot Tip Reduction (STR), 1/3 CTR + STR, Boric Acid (BA), 1/3 CTR + BA, STR + BA, 1/3 CTR + STR + BA on yield and yield components of Razakı grape variety. The results were obtained as the highest fresh grape yield (7.74 kg/vine) with C application, as the highest cluster weight (244.62 g) with STR application, as the highest 100 berry weight (504.08 g) with C application, as the highest maturity index (36.89) with BA application, as the highest must yield (695.00 ml) with BA and (695.00 ml) with 1/3 CTR + STR + BA applications, as the highest intensity of L* color (46.93) with STR and (46.10) with 1/3 CTR + STR + BA applications, as the highest intensity of a* color (-5.37) with 1/3 CTR + STR and (-5.01) with STR, as the highest intensity of b* color (12.59) with STR application. The shoot tip reduction to increase cluster weight and boric acid application to increase maturity index of Razakı grape variety can be recommended.

Keywords: razakı, 1/3 cluster tip reduction, shoot tip reduction, boric acid, yield and yield components

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Authors: Janne Engblom, Elias Oikarinen

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A panel dataset is one that follows a given sample of individuals over time, and thus provides multiple observations on each individual in the sample. Panel data models include a variety of fixed and random effects models which form a wide range of linear models. A special case of panel data models are dynamic in nature. A complication regarding a dynamic panel data model that includes the lagged dependent variable is endogeneity bias of estimates. Several approaches have been developed to account for this problem. In this paper, the panel models were estimated using the Arellano-Bover/Blundell-Bond Generalized method of moments (GMM) estimator which is an extension of the Arellano-Bond model where past values and different transformations of past values of the potentially problematic independent variable are used as instruments together with other instrumental variables. The Arellano–Bover/Blundell–Bond estimator augments Arellano–Bond by making an additional assumption that first differences of instrument variables are uncorrelated with the fixed effects. This allows the introduction of more instruments and can dramatically improve efficiency. It builds a system of two equations—the original equation and the transformed one—and is also known as system GMM. In this study, Finnish housing price dynamics were examined empirically by using the Arellano–Bover/Blundell–Bond estimation technique together with ordinary OLS. The aim of the analysis was to provide a comparison between conventional fixed-effects panel data models and dynamic panel data models. The Arellano–Bover/Blundell–Bond estimator is suitable for this analysis for a number of reasons: It is a general estimator designed for situations with 1) a linear functional relationship; 2) one left-hand-side variable that is dynamic, depending on its own past realizations; 3) independent variables that are not strictly exogenous, meaning they are correlated with past and possibly current realizations of the error; 4) fixed individual effects; and 5) heteroskedasticity and autocorrelation within individuals but not across them. Based on data of 14 Finnish cities over 1988-2012 differences of short-run housing price dynamics estimates were considerable when different models and instrumenting were used. Especially, the use of different instrumental variables caused variation of model estimates together with their statistical significance. This was particularly clear when comparing estimates of OLS with different dynamic panel data models. Estimates provided by dynamic panel data models were more in line with theory of housing price dynamics.

Keywords: dynamic model, fixed effects, panel data, price dynamics

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Authors: Nicola Rubino

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This paper presents an analysis of a group of commodity exporting countries' nominal exchange rate movements in relationship to the US dollar. Using a series of Unrestricted Self-exciting Threshold Autoregressive models (SETAR), we model and evaluate sixteen national CPI price differentials relative to the US dollar CPI. Out-of-sample forecast accuracy is evaluated through calculation of mean absolute error measures on the basis of two-hundred and fifty-three months rolling window forecasts and extended to three additional models, namely a logistic smooth transition regression (LSTAR), an additive non linear autoregressive model (AAR) and a simple linear Neural Network model (NNET). Our preliminary results confirm presence of some form of TAR non linearity in the majority of the countries analyzed, with a relatively higher goodness of fit, with respect to the linear AR(1) benchmark, in five countries out of sixteen considered. Although no model appears to statistically prevail over the other, our final out-of-sample forecast exercise shows that SETAR models tend to have quite poor relative forecasting performance, especially when compared to alternative non-linear specifications. Finally, by analyzing the implied half-lives of the > coefficients, our results confirms the presence, in the spirit of arbitrage band adjustment, of band convergence with an inner unit root behaviour in five of the sixteen countries analyzed.

Keywords: transition regression model, real exchange rate, nonlinearities, price differentials, PPP, commodity points

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Authors: Fathi Abid, Bilel Kaffel

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The olive tree, the olive harvest during winter season and the production of olive oil better known by professionals under the name of the crushing operation have interested institutional traders such as olive-oil offices and private companies such as food industry refining and extracting pomace olive oil as well as export-import public and private companies specializing in olive oil. The major problem facing producers of olive oil each winter campaign, contrary to what is expected, it is not whether the harvest will be good or not but whether the sale price will allow them to cover production costs and achieve a reasonable margin of profit or not. These questions are entirely legitimate if we judge by the importance of the issue and the heavy complexity of the uncertainty and competition made tougher by a high level of indebtedness and the experience and expertise of speculators and producers whose objectives are sometimes conflicting. The aim of this paper is to study the formation mechanism of olive oil prices in order to learn about speculators’ behavior and expectations in the market, how they contribute by their industry knowledge and their financial alliances and the size the financial challenge that may be involved for them to build private information hoses globally to take advantage. The methodology used in this paper is based on two stages, in the first stage we study econometrically the formation mechanisms of olive oil price in order to understand the market participant behavior by implementing ARMA, SARMA, GARCH and stochastic diffusion processes models, the second stage is devoted to prediction purposes, we use a combined wavelet- ANN approach. Our main findings indicate that olive oil market participants interact with each other in a way that they promote stylized facts formation. The unstable participant’s behaviors create the volatility clustering, non-linearity dependent and cyclicity phenomena. By imitating each other in some periods of the campaign, different participants contribute to the fat tails observed in the olive oil price distribution. The best prediction model for the olive oil price is based on a back propagation artificial neural network approach with input information based on wavelet decomposition and recent past history.

Keywords: olive oil price, stylized facts, ARMA model, SARMA model, GARCH model, combined wavelet-artificial neural network, continuous-time stochastic volatility mode

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Authors: John Wangui, Charles Gachene, Stephen Mureithi, Boniface Kiteme

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Land use changes caused by demographic, natural variability, economic, technological and policy factors affect the goods and services derived from an ecosystem. In the past few decades, Lake Ol Bolossat catchment in Nyandarua County Kenya has been facing challenges of land cover changes threatening its capacity to perform ecosystems functions and adversely affecting communities and ecosystems downstream. This study assessed land cover changes in the catchment for a period of twenty eight years (from 1986 to 2014). Analysis of three Landsat images i.e. L5 TM 1986, L5 TM 1995 and L8 OLI/TIRS 2014 was done using ERDAS 9.2 software. The results show that dense forest, cropland and area under water increased by 27%, 29% and 3% respectively. On the other hand, open forest, dense grassland, open grassland, bushland and shrubland decreased by 3%, 3%, 11%, 26% and 1% respectively during the period under assessment. The lake was noted to have increased due to siltation caused by soil erosion causing a reduction in Lake’s depth and consequently causing temporary flooding of the wetland. The study concludes that the catchment is under high demographic pressure which would lead to resource use conflicts and therefore formulation of mitigation measures is highly recommended.

Keywords: land cover, land use change, land degradation, Nyandarua, Remote sensing

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Authors: Hsiu-Chuan Hsueh, Kuei-Feng Shen Jr., Chia-Ling Chao, Hui-Chuan Pan

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This article described a 75 years old woman who has suffered from intestinal perforation and accepted surgery with temporary enterostomy, the operation makes her depressed, refused relatives and friend's care, facing low willingness to participate in various activities due to fear of changing body appearance caused by surgery and leave enterostomy. The author collected information through observation talks, physical evaluation, and medical records during the period of care from November 14 to November 30, 2016, we used the four aspects of physiology, psychology, society and spirituality as a whole sexual assessment to establish the nursing problems of patient, included of acute pain, disturbance of body image,coping ineffective individual. For patient care issues, to encouraged case to express their inner feelings and take part in self-care programs through providing good therapeutic interpersonal relationships with their families. However, it provided clear information about the disease and follow-up treatment plan, give compliments in a timely manner, enhanced self-confidence of individual cases and their motivation to participate in self-care of stoma, further face the disease in a positive manner. At the same time, cross-section team care model and individual care measures were developed to enhance the care skills after returning home and at the same time assist the individual in facing the psychological impact caused by stoma. Hope to provide this experience, as a reference for the future care of the disease.

Keywords: enterostomy, intestinal perforation, nursing experience, ostomy

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Authors: Badr A. Al-Jehani

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Nowadays, contractor selection is a critical activity of the project owner. Selecting the right contractor is essential to the project manager for the success of the project, and this cab happens by using the proper selecting method. Traditionally, the contractor is being selected based on his offered bid price. This approach focuses only on the price factor and forgetting other essential factors for the success of the project. In this research paper, the Analytic Network Process (ANP) method is used as a decision tool model to select the most appropriate contractor. This decision-making method can help the clients who work in the construction industry to identify contractors who are capable of delivering satisfactory outcomes. Moreover, this research paper provides a case study of selecting the proper contractor among three contractors by using ANP method. The case study identifies and computes the relative weight of the eight criteria and eleven sub-criteria using a questionnaire.

Keywords: contractor selection, project management, decision-making, bidding

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Authors: K. L. Pan, M. B. Chang

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Nitrogen oxides (NOₓ) is regarded as one of the most important air pollutants. It not only causes adverse environmental effects but also harms human lungs and respiratory system. As a post-combustion treatment, selective catalytic reduction (SCR) possess the highest NO removal efficiency ( ≥ 85%), which is considered as the most effective technique for removing NO from gas streams. However, injection of reducing agent such as NH₃ is requested, and it is costly and may cause secondary pollution. Reduction of NO with carbon monoxide (CO) as reducing agent has been previously investigated. In this process, the key step involves the NO adsorption and dissociation. Also, the high performance mainly relies on the amounts of oxygen vacancy on catalyst surface and redox ability of catalyst, because oxygen vacancy can activate the N-O bond to promote its dissociation. Additionally, perfect redox ability can promote the adsorption of NO and oxidation of CO. Typically, noble metals such as iridium (Ir), platinum (Pt), and palladium (Pd) are used as catalyst for the reduction of NO with CO; however, high cost has limited their applications. Recently, transition metal oxides have been investigated for the reduction of NO with CO, especially CuₓOy, CoₓOy, Fe₂O₃, and MnOₓ are considered as effective catalysts. However, deactivation is inevitable as oxygen (O₂) exists in the gas streams because active sites (oxygen vacancies) of catalyst are occupied by O₂. In this study, Cu-Ce-Fe-Co is prepared and supported on activated carbon by impregnation method to form 10% wt. Cu-Ce-Fe-Co/activated carbon catalyst. Generally, addition of activated carbon on catalyst can bring several advantages: (1) NO can be effectively adsorbed by interaction between catalyst and activated carbon, resulting in the improvement of NO removal, (2) direct NO decomposition may be achieved over carbon associated with catalyst, and (3) reduction of NO could be enhanced by a reducing agent over carbon-supported catalyst. Therefore, 10% wt. Cu-Ce-Fe-Co/activated carbon may have better performance for reduction of NO with CO. Experimental results indicate that NO conversion achieved with 10% wt. Cu-Ce-Fe-Co/activated carbon reaches 83% at 150°C with 300 ppm NO and 10,000 ppm CO. As temperature is further increased to 200°C, 100% NO conversion could be achieved, implying that 10% wt. Cu-Ce-Fe-Co/activated carbon prepared has good activity for the reduction of NO with CO. In order to investigate the effect of O₂ on reduction of NO with CO, 1-5% O₂ are introduced into the system. The results indicate that NO conversions still maintain at ≥ 90% with 1-5% O₂ conditions at 200°C. It is worth noting that effect of O₂ on reduction of NO with CO could be significantly improved as carbon is used as support. It is inferred that carbon support can react with O₂ to produce CO₂ as O₂ exists in the gas streams. Overall, 10% wt. Cu-Ce-Fe-Co/activated carbon is demonstrated with good potential for reduction of NO with CO, and possible mechanisms will be elucidated in this paper.

Keywords: nitrogen oxides (NOₓ), carbon monoxide (CO), reduction of NO with CO, carbon material, catalysis

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Authors: Mafarja Majdi, Salwani Abdullah, Najmeh S. Jaddi

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One of the global combinatorial optimization problems in machine learning is feature selection. It concerned with removing the irrelevant, noisy, and redundant data, along with keeping the original meaning of the original data. Attribute reduction in rough set theory is an important feature selection method. Since attribute reduction is an NP-hard problem, it is necessary to investigate fast and effective approximate algorithms. In this paper, we proposed two feature selection mechanisms based on memetic algorithms (MAs) which combine the genetic algorithm with a fuzzy record to record travel algorithm and a fuzzy controlled great deluge algorithm to identify a good balance between local search and genetic search. In order to verify the proposed approaches, numerical experiments are carried out on thirteen datasets. The results show that the MAs approaches are efficient in solving attribute reduction problems when compared with other meta-heuristic approaches.

Keywords: rough set theory, attribute reduction, fuzzy logic, memetic algorithms, record to record algorithm, great deluge algorithm

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Authors: M. A. Hasnat, M. Amirul Islam, M. A. Rashed, Jamil. Safwan, M. Mahabubul Alam

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Symmetric (Cu–Pt|Nafion|Pt–Cu) and asymmetric(Pt|Nafion|Pt–Cu) assemblies were fabricated to study the nitrate reduction processes at the cathode. The electrocatalytic nitrate reduction reactions were performed in these assemblies in order to investigate the prerequisite for the enhanced catalytic activity, electrochemical cell durability as well as preferable product selectivity resulting from the reduction of nitrate at the cathode. It has been observed for the symmetric assembly that Cu particles were oxidized on the anode surface under an applied potential and the resulting copper ions migrated to the cathode surface through the Nafion membrane, which deposited as copper oxide on the cathode surface. The formation of this copper oxide covering layer on the Pt–Cu cathode surface is attributed as the reason for the deactivation of the cathode that governed the reduced nitrate reduction along with increasing nitrite selectivity. These problems were addressed and resolved with the asymmetric design of the electrocatalytic reactor, where enhanced hydrogen evolution activates the surface by eroding the CuO over layer as well as speeding up the slow rate determining hydrogenation reactions.

Keywords: membrane, nitrate, electrocatalysis, voltammetry, electrolysis

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Authors: Hamed Movahedi, Nicolas Bovet, Henning Friis Poulsen

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Following the advent of the Industrial Revolution, there has been a significant increase in the extraction and utilization of hydrocarbon and fossil fuel resources. However, a new era has emerged, characterized by a shift towards sustainable practices, namely the reduction of carbon emissions and the promotion of renewable energy generation. Given the substantial number of mature oil and gas wells that have been developed inside the petroleum reservoir domain, it is imperative to establish an environmental strategy and adopt appropriate measures to effectively seal and decommission these wells. In general, the cement plug serves as a material for plugging purposes. Nevertheless, there exist some scenarios in which the durability of such a plug is compromised, leading to the potential escape of hydrocarbons via fissures and fractures within cement plugs. Furthermore, cement is often not considered a practical solution for temporary plugging, particularly in the case of well sites that have the potential for future gas storage or CO2 injection. The Danish oil and gas industry has promising potential as a prospective candidate for future carbon dioxide (CO2) injection, hence contributing to the implementation of carbon capture strategies within Europe. The primary reservoir component consists of chalk, a rock characterized by limited permeability. This work focuses on the development and characterization of a novel hydrogel variant. The hydrogel is designed to be injected via a low-permeability reservoir and afterward undergoes a transformation into a high-viscosity gel. The primary objective of this research is to explore the potential of this hydrogel as a new solution for effectively plugging well flow. Initially, the synthesis of polyacrylamide was carried out using radical polymerization inside the confines of the reaction flask. Subsequently, with the application of the Hoffman rearrangement, the polymer chain undergoes partial amination, facilitating its subsequent reaction with the crosslinker and enabling the formation of a hydrogel in the subsequent stage. The organic crosslinker, glutaraldehyde, was employed in the experiment to facilitate the formation of a gel. This gel formation occurred when the polymeric solution was subjected to heat within a specified range of reservoir temperatures. Additionally, a rheological survey and gel time measurements were conducted on several polymeric solutions to determine the optimal concentration. The findings indicate that the gel duration is contingent upon the starting concentration and exhibits a range of 4 to 20 hours, hence allowing for manipulation to accommodate diverse injection strategies. Moreover, the findings indicate that the gel may be generated in environments characterized by acidity and high salinity. This property ensures the suitability of this substance for application in challenging reservoir conditions. The rheological investigation indicates that the polymeric solution exhibits the characteristics of a Herschel-Bulkley fluid with somewhat elevated yield stress prior to solidification.

Keywords: polyacrylamide, hofmann rearrangement, rheology, gel time

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Authors: Mehrnaz Mostafavi

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The current research aims to explore a method for creating nano-ring structures through chemical reduction. By employing a direct reduction process at a controlled, slow pace, and concurrently introducing specific reduction agents, the goal is to fabricate these unique nano-ring formations. The deliberate slow reduction of nanoparticles within this process helps prevent spatial hindrances caused by the reduction agents. The timing of the reduction of metal atoms, facilitated by these agents, emerges as a crucial factor influencing the creation of nano-ring structures. In investigation involves a chemical approach utilizing bovine serum albumin and human serum albumin as organic reducing agents to produce gold nano-rings. The controlled reduction of metal atoms at a slow pace and under specific pH conditions plays a pivotal role in the successful fabrication of these nanostructures. Optical spectroscopic analyses revealed distinctive plasmonic behavior in both visible and infrared spectra, owing to the collective movement of electrons along the inner and outer walls of the gold nano-rings. Importantly, these ring-shaped nanoparticles exhibit customizable plasmon resonances in the near-infrared spectrum, a characteristic absent in solid particles of similar sizes. This unique attribute makes the generated samples valuable for applications in Nanomedicine and Nanobiotechnology, leveraging the distinct optical properties of these nanostructures.

Keywords: nano-ring structure, nano-particles, reductant agents, plasmon resonace

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Authors: S. Jursová, P. Pustějovská, S. Brožová, J. Bilík

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The paper deals with possibilities of interpretation of iron ore reducibility tests. It presents a mathematical model developed at Centre ENET, VŠB–Technical University of Ostrava, Czech Republic for an evaluation of metallurgical material of blast furnace feedstock such as iron ore, sinter or pellets. According to the data from the test, the model predicts its usage in blast furnace technology and its effects on production parameters of shaft aggregate. At the beginning, the paper sums up the general concept and experience in mathematical modelling of iron ore reduction. It presents basic equation for the calculation and the main parts of the developed model. In the experimental part, there is an example of usage of the mathematical model. The paper describes the usage of data for some predictive calculation. There are presented material, method of carried test of iron ore reducibility. Then there are graphically interpreted effects of used material on carbon consumption, rate of direct reduction and the whole reduction process.

Keywords: blast furnace technology, iron ore reduction, mathematical model, prediction of iron ore reduction

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Authors: Ogunwole Cecilia Oluwakemi, Timothy Ayomitunde Aderemi

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Provision of sufficient food and elimination of abject poverty have usually been the conventional benefits of agriculture in any society. Meanwhile, despite the fact that Nigeria is an agrarian society, food insecurity and poverty have become the issues of concern among both scholars and policymakers in the recent times. Against this backdrop, this study examined the nexus among agriculture, food security, and poverty reduction in Nigeria from 1990 to 2019 within the framework of the Cointegration and Granger Causality approach. Data was collected from the Central Bank of Nigeria Statistical Bulletin and the World Development Indicators, respectively. The following are the major results that emanated from the study. A long run equilibrium relationship exists among agricultural value added, food production index, and GDP per capita in Nigeria. Similarly, there is a unidirectional causality which flows from food production index to poverty reduction in Nigeria. In the same vein, one way causality flows from poverty reduction to agricultural value added in Nigeria. Consequently, this study makes the following recommendation for the policymakers in Nigeria, and other African countries by extension, that agricultural value added and food production are the important variables that cannot be undermined when poverty reduction occupies the central focus of the policymakers. Therefore, any time these policymakers want to reduce poverty, policies that drive agricultural value added and food production should be embarked upon. Therefore, this study will contribute to the literature by establishing the type of linkage that exists between agriculture, food security, and poverty reduction in Nigeria.

Keywords: agriculture, value added, food production, GDP per capita, Nigeria

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Authors: Doseong Eom, Jeongmin Kim, Kwang Ryel Ryu

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Large exhibition halls require a lot of energy to maintain comfortable atmosphere for the visitors viewing inside. One way of reducing the energy cost is to have thermal energy storage systems installed so that the thermal energy can be stored in the middle of night when the energy price is low and then used later when the price is high. To minimize the overall energy cost, however, we should be able to decide how much energy to save during which time period exactly. If we can foresee future energy load and the corresponding cost, we will be able to make such decisions reasonably. In this paper, we use machine learning technique to obtain models for predicting weather conditions and the number of visitors on hourly basis for the next day. Based on the energy load thus predicted, we build a cost-optimal daily operation plan for the thermal energy storage systems and cooling and heating facilities through simulation-based optimization.

Keywords: building energy management, machine learning, operation planning, simulation-based optimization

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Authors: Samina Khalid, Shamila Nasreen

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Dimensionality reduction as a preprocessing step to machine learning is effective in removing irrelevant and redundant data, increasing learning accuracy, and improving result comprehensibility. However, the recent increase of dimensionality of data poses a severe challenge to many existing feature selection and feature extraction methods with respect to efficiency and effectiveness. In the field of machine learning and pattern recognition, dimensionality reduction is important area, where many approaches have been proposed. In this paper, some widely used feature selection and feature extraction techniques have analyzed with the purpose of how effectively these techniques can be used to achieve high performance of learning algorithms that ultimately improves predictive accuracy of classifier. An endeavor to analyze dimensionality reduction techniques briefly with the purpose to investigate strengths and weaknesses of some widely used dimensionality reduction methods is presented.

Keywords: age related macular degeneration, feature selection feature subset selection feature extraction/transformation, FSA’s, relief, correlation based method, PCA, ICA

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Authors: Setya Winarno

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Due to abundant Merapi volcanic sand in Yogyakarta City, many local people have utilized it for mass production of concrete blocks through mini plants although their products are low in quality. This paper presents a practice model for quality improvement in this situation in order to supply the current customer interest in good quality of construction material. The method of this research was to investigate a techno economic evaluation through laboratory test and interview. Samples of twenty existing concrete blocks made by local people had only 19.4 kg/cm2 in average compression strength which was lower than the minimum Indonesian standard of 25 kg/cm2. Through repeat testing in laboratory for fulfilling the standard, the concrete mix design of water cement ratio should not be more than 0.64 by weight basis. The proportion of sand as aggregate content should not be more than 9 parts to 1 part by volume of Portland cement. Considering the production cost, the basic price was Rp 1,820 for each concrete block, comparing to Rp 2,000 as a normal competitive market price. At last, the model describes (a) maximum water cement ratio is 0.64, (b) maximum proportion of sand and cement is 1:9, (c) the basic price is about Rp. 1,820.00 and (d) strategies to win the competitive market on mass production of concrete blocks are focus in quality, building relationships with consumer, rapid respond to customer need, continuous innovation by product diversification, promotion in social media, and strict financial management.

Keywords: concrete block, good quality, improvement model, diversification

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Authors: Daniel Mokatsanyane, Johnny Jansen Van Rensburg

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This paper is a concise introduction of the risk management on the water derivatives market. Water, a new commodity in the market, is one of the most important commodity on earth. As important to life and planet as crops, metals, and energy, none of them matters without water. This paper presents a brief overview of water as a tradable commodity via a new first of its kind futures contract on the Nasdaq Veles California Water Index (NQH2O) derivative instrument, TheGeneralised Autoregressive Conditional Heteroscedasticity (GARCH) statistical model will be the used to measure the water price volatility of the instrument and its performance since it’s been traded. describe the main products and illustrate their usage in risk management and also discuss key challenges with modeling and valuation of water as a traded commodity and finally discuss how water derivatives may be taken as an alternative asset investment class.

Keywords: water derivatives, commodity market, nasdaq veles california water Index (NQH2O, water price, risk management

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Authors: Lai Ving Kam

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Many markets are maturing, consumer buying powers are weakening and customer preferences change rapidly. To survive, many adopt fast paced continuous cost reduction and competitive pricing to remain relevance. Marketers desire to push for more sales to increase revenues have intensified competitions at time cannibalize the product and market. The amazing technologies changes have created both hope and despair to the industries. The pressure to constantly reduce cost, on the one hand, create and market new products in cheaper prices and shorter life cycles, on the other has become a continuous endeavour. The twin trends appear irreconcilable. Can core strategic vision provides and adapts new directions in continuous cost reduction? This study investigates core strategic vision able to meet this need, for firms to survive and stay profitable. Under current uncertainty market, are firms falling back on their core strategic visions to take them out of the unfavourable positions?

Keywords: core strategy vision, continuous cost reduction, fashionable products industry, competitive pricing

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Authors: Tom D. Gedeon, Ujala Rampaul

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The evaluation of electronic consumer goods are most often done from the perspective of analysing the latest models, comparing their advantages and disadvantages with respect to price. This style of evaluation is often performed by one or a few product experts on a wide range of features that may not be applicable to each user. We instead used a scenario-based approach to evaluate a number of e-readers. The setting is similar to a user who is interested in a new product or technology and has allocated a limited budget. We evaluate the quality and usability of e-readers available within that budget range. This is based on the assumption of a rational market which prices older second hand devices the same as functionally equivalent new devices. We describe our evaluation and comparison of four branded eReaders, as the initial stage of a larger project. The scenario has a range of tasks approximating a busy person who does not bother to read the manual. We found that navigation within books to be the most significant differentiator between the eReaders in our scenario based evaluation process.

Keywords: eReader, scenario based, price comparison, Kindle, Kobo, Nook, Sony, technology adoption

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Authors: Sasan Aryaee, Mahdi Ravanshadnia

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Naturally, any activity is associated with risk, and humans have understood this concept from very long times ago and seek to identify its factors and sources. On the one hand, proper risk management can cause problems such as delays and unforeseen costs in the development projects, temporary or permanent loss of services, getting lost or information theft, complexity and limitations in processes, unreliable information caused by rework, holes in the systems and many such problems. In the present study, a model has been presented to rank the environmental risks of oil and gas projects. The statistical population of the study consists of all executives active in the oil and gas fields, that the statistical sample is selected randomly. In the framework of the proposed method, environmental risks of oil and gas projects were first extracted, then a questionnaire based on these indicators was designed based on Likert scale and distributed among the statistical sample. After assessing the validity and reliability of the questionnaire, environmental risks of oil and gas projects were ranked using the VIKOR method of multiple-criteria decision-making. The results showed that the best options for HSE planning of oil and gas projects that caused the reduction of risks and personal injury and casualties and less than other options is costly for the project and it will add less time to the duration of implementing the project is the entering of dye to the environment when painting the generator pond and the presence of the rigger near the crane.

Keywords: ranking, multi-criteria decision making, oil and gas projects, HSEmanagement, environmental risks

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Authors: Gen Sakoda, Hideki Takayasu, Misako Takayasu

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Waste reduction is a fundamental problem for sustainability. Methods for waste reduction with point-of-sales (POS) data are proposed, utilizing the knowledge of a recent econophysics study on a statistical property of POS data. Concretely, the non-stationary time series analysis method based on the Particle Filter is developed, which considers abnormal fluctuation scaling known as Taylor's law. This method is extended for handling incomplete sales data because of stock-outs by introducing maximum likelihood estimation for censored data. The way for optimal stock determination with pricing the cost of waste reduction is also proposed. This study focuses on the examination of the methods for large sales numbers where Taylor's law is obvious. Numerical analysis using aggregated POS data shows the effectiveness of the methods to reduce food waste maintaining a high profit for large sales numbers. Moreover, the way of pricing the cost of waste reduction reveals that a small profit loss realizes substantial waste reduction, especially in the case that the proportionality constant  of Taylor’s law is small. Specifically, around 1% profit loss realizes half disposal at =0.12, which is the actual  value of processed food items used in this research. The methods provide practical and effective solutions for waste reduction keeping a high profit, especially with large sales numbers.

Keywords: food waste reduction, particle filter, point-of-sales, sustainable development goals, Taylor's law, time series analysis

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Authors: Raj Kumari Bahl, Sotirios Sabanis

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In this paper, we are concerned with the valuation of the first Catastrophic Mortality Bond that was launched in the market namely the Swiss Re Mortality Bond 2003. This bond encapsulates the behavior of a well-defined mortality index to generate payoffs for the bondholders. Pricing this bond is a challenging task. We adapt the payoff of the terminal principal of the bond in terms of the payoff of an Asian put option and present an approach to derive model-independent bounds exploiting comonotonic theory. We invoke Jensen’s inequality for the computation of lower bounds and employ Lagrange optimization technique to achieve the upper bound. The success of these bounds is based on the availability of compatible European mortality options in the market. We carry out Monte Carlo simulations to estimate the bond price and illustrate the strength of these bounds across a variety of models. The fact that our bounds are model-independent is a crucial breakthrough in the pricing of catastrophic mortality bonds.

Keywords: mortality bond, Swiss Re Bond, mortality index, comonotonicity

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Authors: Fatima Ammari, Meriem Chenouf

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Synthesis of gold nanoparticles (AuNPs) has attracted much attention since the pioneering discovery of the high catalytic activity of supported gold nanoparticles in the reaction of CO oxidation at low temperature. In this research field, we used montmorillonite pre-acidified under gentle conditions for AuNPs stabilization; using different loading percentage 1, 2 and 5%. The gold nanoparticles were obtained using chemical reduction method using NaBH4 as reductant agent. The obtained gold nanoparticles stabilized in acid-activated montmorillonite were used as catalysts for reduction of 4-nitrophenol to aminophenol with sodium borohydride at room temperature The UV-Vis results confirm directly the gold nanaoparticles formation. The XRD N2 adsorption and MET results showed the formation of gold nanoparticles in the pores of preacidified montmorillonite with an average size of 5.7nm. The reduction reaction of 4-nitrophenol into 4-aminophenol with NaBH4 catalyzed by Au°-montmorillonite catalyst exhibits remarkably a high activity; the reaction was completed within 4.5min.

Keywords: gold, acid-activated montmorillonite, nanoparticles, 4-nitrophenol

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Authors: Manana Lobzhanidze

Abstract:

Introduction: The paper will argue that labor migration is the most important problem Georgia faces today. The structure of labor migration by age and gender of Georgia is analyzed. The main driving factors of circular labor migration during the last ten years are identified. While studying migration, it is necessary to discuss the interconnection of economic, social, and demographic features, also taking into consideration the policy of state regulations in terms of education and professional training. Methodology: Different research methods are applied in the presented paper: statistical, such as selection, grouping, observation, trend, and qualitative research methods, namely; analysis, synthesis, induction, deduction, comparison ones. Main Findings: Labour migrants are filling the labor market as a low salary worker. The main positive feedback of migration from developing countries is poverty eradication, but this process is accompanied by problems, such as 'Brain Drain'. The country loses an important part of its intellectual potential, and it is invested by households or state itself. Conclusions: Labor migration is characterized to be temporary, but socio-economic problems of the country often push the labor migration in the direction of longterm and illegal migration. Countries with developed economies try to stricter migration policy and fight illegal migration with different methods; circular migration helps solve this problem. Conclusions and recommendations are included about circular labor migration consequences in Georgia and its influence on the reduction of unemployment level.

Keywords: migration, circular labor migration, labor migration employment, unemployment

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Authors: Algia Hammami, Abdelfatteh Bouri

Abstract:

In this work, our objective is to study the transmission of volatility between oil and stock markets in developed (USA, Germany, Italy, France and Japan) and emerging countries (Tunisia, Thailand, Brazil, Argentina, and Jordan) for the period 1998-2015. Our methodology consists of analyzing the monthly data by the GARCH-BEKK model to capture the effect in terms of volatility in the variation of the oil price on the different stock market. The empirical results in the emerging countries indicate that the relationships are unidirectional from the stock market to the oil market. For the developed countries, we find that the transmission of volatility is unidirectional from the oil market to stock market. For the USA and Italy, we find no transmission between the two markets. The transmission is bi-directional only in Thailand. Following our estimates, we also noticed that the emerging countries influence almost the same extent as the developed countries, while at the transmission of volatility there a bid difference. The GARCH-BEKK model is more effective than the others versions to minimize the risk of an oil-stock portfolio.

Keywords: GARCH, oil prices, stock market, volatility transmission

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Authors: Haidy S. Ghali, Engy Serag, A. Samer Ezeldin

Abstract:

Copper is an essential raw material used in the construction industry. During the year 2021 and the first half of 2022, the global market suffered from a significant fluctuation in copper raw material prices due to the aftermath of both the COVID-19 pandemic and the Russia-Ukraine war, which exposed its consumers to an unexpected financial risk. Thereto, this paper aims to develop two ANN-LSTM price prediction models, using Python, that can forecast the average monthly copper prices traded in the London Metal Exchange; the first model is a multivariate model that forecasts the copper price of the next 1-month and the second is a univariate model that predicts the copper prices of the upcoming three months. Historical data of average monthly London Metal Exchange copper prices are collected from January 2009 till July 2022, and potential external factors are identified and employed in the multivariate model. These factors lie under three main categories: energy prices and economic indicators of the three major exporting countries of copper, depending on the data availability. Before developing the LSTM models, the collected external parameters are analyzed with respect to the copper prices using correlation and multicollinearity tests in R software; then, the parameters are further screened to select the parameters that influence the copper prices. Then, the two LSTM models are developed, and the dataset is divided into training, validation, and testing sets. The results show that the performance of the 3-Month prediction model is better than the 1-Month prediction model, but still, both models can act as predicting tools for diverse economic situations.

Keywords: copper prices, prediction model, neural network, time series forecasting

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Authors: Yaşar Önal, Aydın Akın

Abstract:

This study was conducted Ismailoglu grape type (Vitis vinifera L.) and its vine which was aged 15 was grown on its own root in a vegetation period of 2013 in Nevşehir province in Turkey. In this research, it was investigated whether the applications of Control (C), 1/3 cluster tip reduction (1/3 CTR), shoot tip reduction (STR), 1/3 CTR + STR, TKI-HUMAS (TKI-HM) (Soil) (S), TKI-HM (Foliar) (F), TKI-HM (S + F), 1/3 CTR + TKI-HM (S), 1/3 CTR + TKI-HM (F), 1/3 CTR + TKI-HM (S+F), STR + TKI-HM (S), STR + TKI-HM (F), STR + TKI-HM (S + F), 1/3 CTR + STR+TKI-HM (S), 1/3 CTR + STR + TKI-HM (F), 1/3 CTR + STR + TKI-HM (S + F) on yield and yield components of Ismailoglu grape type. The results were obtained as the highest fresh grape yield (16.15 kg/vine) with TKI-HM (S), as the highest cluster weight (652.39 g) with 1/3 CTR + STR, as the highest 100 berry weight (419.07 g) with 1/3 CTR + STR + TKI-HM (F), as the highest maturity index (44.06) with 1/3 CTR, as the highest must yield (810.00 ml) with STR + TKI-HM (F), as the highest intensity of L* color (42.04) with TKI-HM (S + F), as the highest intensity of a* color (2.60) with 1/3 CTR + TKI-HM (S), as the highest intensity of b* color (7.16) with 1/3 CTR + TKI-HM (S) applications. To increase the fresh grape yield of Ismailoglu grape type can be recommended TKI-HM (S) application.

Keywords: 1/3 cluster tip reduction, shoot tip reduction, TKI-Humas application, yield and yield components

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Authors: Golamhassan Ghahramani Aghdam, Pedram Bavili Tabrizi

Abstract:

The aim of this research is to investigate the relationship between accounting information and the value of the companies accepted in Tehran Exchange Market. The dependent variable in this research is the value of a company that is measured by price coefficients, and the independent variables are balance sheet information, profit and loss information, cash flow state information, and profit quality characteristics. The profit quality characteristic index is to be related and to be on-time. This research is an application research, and the research population includes all companies that are active in Tehran exchange market. The number of 194 companies was selected by the systematic method as the statistics sample in the period of 2018-2019. The multi-variable linear regression model was used for the hypotheses test. The results show that there is no relationship between accounting information and companies’ value (stock value) that can be due to the lack of efficiency of the investment market and the inability to use the accounting information by investment market activists.

Keywords: accounting information, company value, profit quality characteristics, price coefficient

Procedia PDF Downloads 124