Search results for: principal objects
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1716

Search results for: principal objects

1356 Investigation of Detectability of Orbital Objects/Debris in Geostationary Earth Orbit by Microwave Kinetic Inductance Detectors

Authors: Saeed Vahedikamal, Ian Hepburn

Abstract:

Microwave Kinetic Inductance Detectors (MKIDs) are considered as one of the most promising photon detectors of the future in many Astronomical applications such as exoplanet detections. The MKID advantages stem from their single photon sensitivity (ranging from UV to optical and near infrared), photon energy resolution and high temporal capability (~microseconds). There has been substantial progress in the development of these detectors and MKIDs with Megapixel arrays is now possible. The unique capability of recording an incident photon and its energy (or wavelength) while also registering its time of arrival to within a microsecond enables an array of MKIDs to produce a four-dimensional data block of x, y, z and t comprising x, y spatial, z axis per pixel spectral and t axis per pixel which is temporal. This offers the possibility that the spectrum and brightness variation for any detected piece of space debris as a function of time might offer a unique identifier or fingerprint. Such a fingerprint signal from any object identified in multiple detections by different observers has the potential to determine the orbital features of the object and be used for their tracking. Modelling performed so far shows that with a 20 cm telescope located at an Astronomical observatory (e.g. La Palma, Canary Islands) we could detect sub cm objects at GEO. By considering a Lambertian sphere with a 10 % reflectivity (albedo of the Moon) we anticipate the following for a GEO object: 10 cm object imaged in a 1 second image capture; 1.2 cm object for a 70 second image integration or 0.65 cm object for a 4 minute image integration. We present details of our modelling and the potential instrument for a dedicated GEO surveillance system.

Keywords: space debris, orbital debris, detection system, observation, microwave kinetic inductance detectors, MKID

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1355 Analysis of Rural Roads in Developing Countries Using Principal Component Analysis and Simple Average Technique in the Development of a Road Safety Performance Index

Authors: Muhammad Tufail, Jawad Hussain, Hammad Hussain, Imran Hafeez, Naveed Ahmad

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Road safety performance index is a composite index which combines various indicators of road safety into single number. Development of a road safety performance index using appropriate safety performance indicators is essential to enhance road safety. However, a road safety performance index in developing countries has not been given as much priority as needed. The primary objective of this research is to develop a general Road Safety Performance Index (RSPI) for developing countries based on the facility as well as behavior of road user. The secondary objectives include finding the critical inputs in the RSPI and finding the better method of making the index. In this study, the RSPI is developed by selecting four main safety performance indicators i.e., protective system (seat belt, helmet etc.), road (road width, signalized intersections, number of lanes, speed limit), number of pedestrians, and number of vehicles. Data on these four safety performance indicators were collected using observation survey on a 20 km road section of the National Highway N-125 road Taxila, Pakistan. For the development of this composite index, two methods are used: a) Principal Component Analysis (PCA) and b) Equal Weighting (EW) method. PCA is used for extraction, weighting, and linear aggregation of indicators to obtain a single value. An individual index score was calculated for each road section by multiplication of weights and standardized values of each safety performance indicator. However, Simple Average technique was used for weighting and linear aggregation of indicators to develop a RSPI. The road sections are ranked according to RSPI scores using both methods. The two weighting methods are compared, and the PCA method is found to be much more reliable than the Simple Average Technique.

Keywords: indicators, aggregation, principle component analysis, weighting, index score

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1354 Disclosure on Adherence of the King Code's Audit Committee Guidance: Cluster Analyses to Determine Strengths and Weaknesses

Authors: Philna Coetzee, Clara Msiza

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In modern society, audit committees are seen as the custodians of accountability and the conscience of management and the board. But who holds the audit committee accountable for their actions or non-actions and how do we know what they are supposed to be doing and what they are doing? The purpose of this article is to provide greater insight into the latter part of this problem, namely, determine what best practises for audit committees and the disclosure of what is the realities are. In countries where governance is well established, the roles and responsibilities of the audit committee are mostly clearly guided by legislation and/or guidance documents, with countries increasingly providing guidance on this topic. With high cost involved to adhere to governance guidelines, the public (for public organisations) and shareholders (for private organisations) expect to see the value of their ‘investment’. For audit committees, the dividends on the investment should reflect in less fraudulent activities, less corruption, higher efficiency and effectiveness, improved social and environmental impact, and increased profits, to name a few. If this is not the case (which is reflected in the number of fraudulent activities in both the private and the public sector), stakeholders have the right to ask: where was the audit committee? Therefore, the objective of this article is to contribute to the body of knowledge by comparing the adherence of audit committee to best practices guidelines as stipulated in the King Report across public listed companies, national and provincial government departments, state-owned enterprises and local municipalities. After constructs were formed, based on the literature, factor analyses were conducted to reduce the number of variables in each construct. Thereafter, cluster analyses, which is an explorative analysis technique that classifies a set of objects in such a way that objects that are more similar are grouped into the same group, were conducted. The SPSS TwoStep Clustering Component was used, being capable of handling both continuous and categorical variables. In the first step, a pre-clustering procedure clusters the objects into small sub-clusters, after which it clusters these sub-clusters into the desired number of clusters. The cluster analyses were conducted for each construct and the measure, namely the audit opinion as listed in the external audit report, were included. Analysing 228 organisations' information, the results indicate that there is a clear distinction between the four spheres of business that has been included in the analyses, indicating certain strengths and certain weaknesses within each sphere. The results may provide the overseers of audit committees’ insight into where a specific sector’s strengths and weaknesses lie. Audit committee chairs will be able to improve the areas where their audit committee is lacking behind. The strengthening of audit committees should result in an improvement of the accountability of boards, leading to less fraud and corruption.

Keywords: audit committee disclosure, cluster analyses, governance best practices, strengths and weaknesses

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1353 Existential and Possessive Constructions in Modern Standard Arabic Two Strategies Reflecting the Ontological (Non-)Autonomy of Located or Possessed Entities

Authors: Fayssal Tayalati

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Although languages use very divergent constructional strategies, all existential constructions appear to invariably involve an implicit or explicit locative constituent. This locative constituent either surface as a true locative phrase or are realized as a possessor noun phrase. However, while much research focuses on the supposed underlying syntactic relation of locative and possessive existential constructions, not much is known about possible semantic factors that could govern the choice between these constructions. The main question that we address in this talk concerns the choice between the two related constructions in Modern Standard Arabic (MAS). Although both are used to express the existence of something somewhere, we can distinguish three contexts: First, for some types of entities, only the EL construction is possible (e.g. (1a) ṯammata raǧulun fī l-ḥadīqati vs. (1b) *(kāna) ladā l-ḥadīqati raǧulun). Second, for other types of entities, only the possessive construction is possible (e.g. (2a) ladā ṭ-ṭawilati aklun dāʾiriyyun vs. (2b) *ṯammata šaklun dāʾiriyyun ladā/fī ṭ-ṭawilati). Finally, for still other entities, both constructions can be found (e.g. (3a) ṯammata ḥubbun lā yūṣafu ladā ǧārī li-zawǧati-hi and (3b) ladā ǧārī ḥubbun lā yūṣafu li-zawǧati-hi). The data covering a range of ontologically different entities (concrete objects, events, body parts, dimensions, essential qualities, feelings, etc.) shows that the choice between the existential locative and the possessive constructions is closely linked to the conceptual autonomy of the existential theme with respect to its location or to the whole that it is a part of. The construction with ṯammata is the only possible one to express the existence of a fully autonomous (i.e. nondependent) entity (concrete objects (e.g.1) and abstract objects such as events, especially the ones that Grimshaw called ‘simple events’). The possessive construction with (kāna) ladā is the only one used to express the existence of fully non-autonomous (i.e. fully dependent on a whole) entities (body parts, dimensions (e.g. 2), essential qualities). The two constructions alternate when the existential theme is conceptually dependent but separable of the whole, either because it has an autonomous (independent) existence of the given whole (spare parts of an object), or because it receives a relative autonomy in the speech through a modifier (accidental qualities, feelings (e.g. 3a, 3b), psychological states, among some other kinds of themes). In this case, the modifier expresses an approximate boundary on a scale, and provides relative autonomy to the entity. Finally, we will show that kinship terms (e.g. son), which at first sight may seem to constitute counterexamples to our hypothesis, are nonetheless supported by it. The ontological (non-)autonomy of located or possessed entities is also reflected by morpho-syntactic properties, among them the use and the choice of determiners, pluralisation and the behavior of entities in the context of associative anaphora.

Keywords: existence, possession, autonomous entities, non-autonomous entities

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1352 Management of Cultural Heritage: Bologna Gates

Authors: Alfonso Ippolito, Cristiana Bartolomei

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A growing demand is felt today for realistic 3D models enabling the cognition and popularization of historical-artistic heritage. Evaluation and preservation of Cultural Heritage is inextricably connected with the innovative processes of gaining, managing, and using knowledge. The development and perfecting of techniques for acquiring and elaborating photorealistic 3D models, made them pivotal elements for popularizing information of objects on the scale of architectonic structures.

Keywords: cultural heritage, databases, non-contact survey, 2D-3D models

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1351 Metabolomics Fingerprinting Analysis of Melastoma malabathricum L. Leaf of Geographical Variation Using HPLC-DAD Combined with Chemometric Tools

Authors: Dian Mayasari, Yosi Bayu Murti, Sylvia Utami Tunjung Pratiwi, Sudarsono

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Melastoma malabathricum L. is an Indo-Pacific herb that has been traditionally used to treat several ailments such as wounds, dysentery, diarrhea, toothache, and diabetes. This plant is common across tropical Indo-Pacific archipelagos and is tolerant of a range of soils, from low-lying areas subject to saltwater inundation to the salt-free conditions of mountain slopes. How the soil and environmental variation influences secondary metabolite production in the herb, and an understanding of the plant’s utility as traditional medicine, remain largely unknown and unexplored. The objective of this study is to evaluate the variability of the metabolic profiles of M. malabathricum L. across its geographic distribution. By employing high-performance liquid chromatography-diode array detector (HPLC-DAD), a highly established, simple, sensitive, and reliable method was employed for establishing the chemical fingerprints of 72 samples of M. malabathricum L. leaves from various geographical locations in Indonesia. Specimens collected from six terrestrial and archipelago regions of Indonesia were analyzed by HPLC to generate chromatogram peak profiles that could be compared across each region. Data corresponding to the common peak areas of HPLC chromatographic fingerprint were analyzed by hierarchical component analysis (HCA) and principal component analysis (PCA) to extract information on the most significant variables contributing to characterization and classification of analyzed samples data. Principal component values were identified as PC1 and PC2 with 41.14% and 19.32%, respectively. Based on variety and origin, the high-performance liquid chromatography method validated the chemical fingerprint results used to screen the in vitro antioxidant activity of M. malabathricum L. The result shows that the developed method has potential values for the quality of similar M. malabathrium L. samples. These findings provide a pathway for the development and utilization of references for the identification of M. malabathricum L. Our results indicate the importance of considering geographic distribution during field-collection efforts as they demonstrate regional metabolic variation in secondary metabolites of M. malabathricum L., as illustrated by HPLC chromatogram peaks and their antioxidant activities. The results also confirm the utility of this simple approach to a rapid evaluation of metabolic variation between plants and their potential ethnobotanical properties, potentially due to the environments from whence they were collected. This information will facilitate the optimization of growth conditions to suit particular medicinal qualities.

Keywords: fingerprint, high performance liquid chromatography, Melastoma malabathricum l., metabolic profiles, principal component analysis

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1350 Sattriya: Its Transformation as a Principal Medium of Preaching Vaishnava Religion to Performing Art

Authors: Smita Lahkar

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Sattriya, the youngest of the eight principal Classical Indian dance traditions, has undergone too many changes and modifications to arrive at its present stage of performing art form extracting itself from age-old religious confinement. Although some of the other traditions have been revived in the recent past, Sattriya has a living tradition since its inception in the 15th century by Srimanta Sankardeva, the great Vaishnavite saint, poet, playwright, lyricist, painter, singer and dancer of Assam, a primary north-eastern state of India. This living dance tradition from the Sattras, the Vaishnavite monasteries, has been practiced for over five hundred years by celibate male monks, as a powerful medium for propagating the Vaishnava religious faith. Sankardeva realised the potential of the vocalised word integrated with the visual image as a powerful medium of expression and communication. So he used this principal medium for propagating his newly found message of devotion among the people of his time. Earlier, Sattriya was performed by male monks alone in monasteries (Sattras) as a part of daily rituals. The females were not even allowed to learn this art form. But, in present time, Sattriya has come out from the Sattras to proscenium stage, performed mostly by female as well as few male dancers also. The technique of performing movements, costumes, ornaments, music and style of performance too have experienced too many changes and modifications. For example, earlier and even today in Sattra, the ‘Pataka’ hand gesture is depicted in conformity with the original context (religious) of creation of the dance form. But, today stage-performers prefer the instructions of the scripture ‘Srihastamuktavali’ and depict the ‘Pataka’ in a sophisticated manner affecting decontextualisation to a certain extent. This adds aesthetic beauty to the dance form as an art distancing it from its context of being a vehicle for propagating Vaishnava religion. The Sattriya dance today stands at the crossroads of past and future, tradition and modernity, devotion and display, spirituality and secularism. The traditional exponents trained under the tutelage of Sattra maestros and imbibing a devotionally inspired rigour of the religion, try to retain the traditional nuances; while the young artists being trained outside the monasteries are more interested in taking up the discipline purely from the perspective of ‘performing arts’ bereft of the philosophy of religion or its sacred associations. Hence, this paper will be an endeavor to establish the hypothesis that the Sattriya, whose origin was for propagating Vaishnava faith, has now entered the world of performing arts with highly aesthetical components. And as a transformed art form, Sattriya may be expected to carve a niche in world dance arena. This will be done with the help of historical evidences, observations from the recorded past and expert rendezvous.

Keywords: dance, performing art, religion, Sattriya

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1349 Cosmic Muon Tomography at the Wylfa Reactor Site Using an Anti-Neutrino Detector

Authors: Ronald Collins, Jonathon Coleman, Joel Dasari, George Holt, Carl Metelko, Matthew Murdoch, Alexander Morgan, Yan-Jie Schnellbach, Robert Mills, Gareth Edwards, Alexander Roberts

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At the Wylfa Magnox Power Plant between 2014–2016, the VIDARR prototype anti-neutrino detector was deployed. It is comprised of extruded plastic scintillating bars measuring 4 cm × 1 cm × 152 cm and utilised wavelength shifting fibres (WLS) and multi-pixel photon counters (MPPCs) to detect and quantify radiation. During deployment, it took cosmic muon data in accidental coincidence with the anti-neutrino measurements with the power plant site buildings obscuring the muon sky. Cosmic muons have a significantly higher probability of being attenuated and/or absorbed by denser objects, and so one-sided cosmic muon tomography was utilised to image the reactor site buildings. In order to achieve clear building outlines, a control data set was taken at the University of Liverpool from 2016 – 2018, which had minimal occlusion of the cosmic muon flux by dense objects. By taking the ratio of these two data sets and using GEANT4 simulations, it is possible to perform a one-sided cosmic muon tomography analysis. This analysis can be used to discern specific buildings, building heights, and features at the Wylfa reactor site, including the reactor core/reactor core shielding using ∼ 3 hours worth of cosmic-ray detector live time. This result demonstrates the feasibility of using cosmic muon analysis to determine a segmented detector’s location with respect to surrounding buildings, assisted by aerial photography or satellite imagery.

Keywords: anti-neutrino, GEANT4, muon, tomography, occlusion

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1348 Weapon-Being: Weaponized Design and Object-Oriented Ontology in Hypermodern Times

Authors: John Dimopoulos

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This proposal attempts a refabrication of Heidegger’s classic thing-being and object-being analysis in order to provide better ontological tools for understanding contemporary culture, technology, and society. In his work, Heidegger sought to understand and comment on the problem of technology in an era of rampant innovation and increased perils for society and the planet. Today we seem to be at another crossroads in this course, coming after postmodernity, during which dreams and dangers of modernity augmented with critical speculations of the post-war era take shape. The new era which we are now living in, referred to as hypermodernity by researchers in various fields such as architecture and cultural theory, is defined by the horizontal implementation of digital technologies, cybernetic networks, and mixed reality. Technology today is rapidly approaching a turning point, namely the point of no return for humanity’s supervision over its creations. The techno-scientific civilization of the 21st century creates a series of problems, progressively more difficult and complex to solve and impossible to ignore, climate change, data safety, cyber depression, and digital stress being some of the most prevalent. Humans often have no other option than to address technology-induced problems with even more technology, as in the case of neuron networks, machine learning, and AI, thus widening the gap between creating technological artifacts and understanding their broad impact and possible future development. As all technical disciplines and particularly design, become enmeshed in a matrix of digital hyper-objects, a conceptual toolbox that allows us to handle the new reality becomes more and more necessary. Weaponized design, prevalent in many fields, such as social and traditional media, urban planning, industrial design, advertising, and the internet in general, hints towards an increase in conflicts. These conflicts between tech companies, stakeholders, and users with implications in politics, work, education, and production as apparent in the cases of Amazon workers’ strikes, Donald Trump’s 2016 campaign, Facebook and Microsoft data scandals, and more are often non-transparent to the wide public’s eye, thus consolidating new elites and technocratic classes and making the public scene less and less democratic. The new category proposed, weapon-being, is outlined in respect to the basic function of reducing complexity, subtracting materials, actants, and parameters, not strictly in favor of a humanistic re-orientation but in a more inclusive ontology of objects and subjects. Utilizing insights of Object-Oriented Ontology (OOO) and its schematization of technological objects, an outline for a radical ontology of technology is approached.

Keywords: design, hypermodernity, object-oriented ontology, weapon-being

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1347 Quantification of Global Cerebrovascular Reactivity in the Principal Feeding Arteries of the Human Brain

Authors: Ravinder Kaur

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Introduction Global cerebrovascular reactivity (CVR) mapping is a promising clinical assessment for stress-testing the brain using physiological challenges, such as CO₂, to elicit changes in perfusion. It enables real-time assessment of cerebrovascular integrity and health. Conventional imaging approaches solely use steady-state parameters, like cerebral blood flow (CBF), to evaluate the integrity of the resting parenchyma and can erroneously show a healthy brain at rest, despite the underlying pathogenesis in the presence of cerebrovascular disease. Conversely, coupling CO₂ inhalation with phase-contrast MRI neuroimaging interrogates the capacity of the vasculature to respond to changes under stress. It shows promise in providing prognostic value as a novel health marker to measure neurovascular function in disease and to detect early brain vasculature dysfunction. Objective This exploratory study was established to:(a) quantify the CBF response to CO₂ in hypocapnia and hypercapnia,(b) evaluate disparities in CVR between internal carotid (ICA) and vertebral artery (VA), and (c) assess sex-specific variation in CVR. Methodology Phase-contrast MRI was employed to measure the cerebrovascular reactivity to CO₂ (±10 mmHg). The respiratory interventions were presented using the prospectively end-tidal targeting RespirActTM Gen3 system. Post-processing and statistical analysis were conducted. Results In 9 young, healthy subjects, the CBF increased from hypocapnia to hypercapnia in all vessels (4.21±0.76 to 7.20±1.83 mL/sec in ICA, 1.36±0.55 to 2.33±1.31 mL/sec in VA, p < 0.05). The CVR was quantitatively higher in ICA than VA (slope of linear regression: 0.23 vs. 0.07 mL/sec/mmHg, p < 0.05). No statistically significant effect was observed in CVR between male and female (0.25 vs 0.20 mL/sec/mmHg in ICA, 0.09 vs 0.11 mL/sec/mmHg in VA, p > 0.05). Conclusions The principal finding in this investigation validated the modulation of CBF by CO₂. Moreover, it has indicated that regional heterogeneity in hemodynamic response exists in the brain. This study provides scope to standardize the quantification of CVR prior to its clinical translation.

Keywords: cerebrovascular disease, neuroimaging, phase contrast MRI, cerebrovascular reactivity, carbon dioxide

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1346 COVID-19 and Heart Failure Outcomes: Readmission Insights from the 2020 United States National Readmission Database

Authors: Induja R. Nimma, Anand Reddy Maligireddy, Artur Schneider, Melissa Lyle

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Background: Although heart failure is one of the most common causes of hospitalization in adult patients, there is limited knowledge on outcomes following initial hospitalization for COVID-19 with heart failure (HCF-19). We felt it pertinent to analyze 30-day readmission causes and outcomes among patients with HCF-19 using the United States using real-world big data via the National readmission database. Objective: The aim is to describe the rate and causes of readmissions and morbidity of heart failure with coinciding COVID-19 (HFC-19) in the United States, using the 2020 National Readmission Database (NRD). Methods: A descriptive, retrospective study was conducted on the 2020 NRD, a nationally representative sample of all US hospitalizations. Adult (>18 years) inpatient admissions with COVID-19 with HF and readmissions in 30 days were selected based on the International Classification of Diseases-Tenth Revision, Procedure Code. Results: In 2020, 2,60,372 adult patients were hospitalized with COVID-19 and HF. The median age was 74 (IQR: 64-83), and 47% were female. The median length of stay was 7(4-13) days, and the total cost of stay was 62,025 (31,956 – 130,670) United States dollars, respectively. Among the index hospital admissions, 61,527 (23.6%) died, and 22,794 (11.5%) were readmitted within 30 days. The median age of patients readmitted in 30 days was 73 (63-82), 45% were female, and 1,962 (16%) died. The most common principal diagnosis for readmission in these patients was COVID-19= 34.8%, Sepsis= 16.5%, HF = 7.1%, AKI = 2.2%, respiratory failure with hypoxia =1.7%, and Pneumonia = 1%. Conclusion: The rate of readmission in patients with heart failure exacerbations is increasing yearly. COVID-19 was observed to be the most common principal diagnosis in patients readmitted within 30 days. Complicated hypertension, chronic pulmonary disease, complicated diabetes, renal failure, alcohol use, drug use, and peripheral vascular disorders are risk factors associated with readmission. Familiarity with the most common causes and predictors for readmission helps guide the development of initiatives to minimize adverse outcomes and the cost of medical care.

Keywords: Covid-19, heart failure, national readmission database, readmission outcomes

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1345 Automatic Near-Infrared Image Colorization Using Synthetic Images

Authors: Yoganathan Karthik, Guhanathan Poravi

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Colorizing near-infrared (NIR) images poses unique challenges due to the absence of color information and the nuances in light absorption. In this paper, we present an approach to NIR image colorization utilizing a synthetic dataset generated from visible light images. Our method addresses two major challenges encountered in NIR image colorization: accurately colorizing objects with color variations and avoiding over/under saturation in dimly lit scenes. To tackle these challenges, we propose a Generative Adversarial Network (GAN)-based framework that learns to map NIR images to their corresponding colorized versions. The synthetic dataset ensures diverse color representations, enabling the model to effectively handle objects with varying hues and shades. Furthermore, the GAN architecture facilitates the generation of realistic colorizations while preserving the integrity of dimly lit scenes, thus mitigating issues related to over/under saturation. Experimental results on benchmark NIR image datasets demonstrate the efficacy of our approach in producing high-quality colorizations with improved color accuracy and naturalness. Quantitative evaluations and comparative studies validate the superiority of our method over existing techniques, showcasing its robustness and generalization capability across diverse NIR image scenarios. Our research not only contributes to advancing NIR image colorization but also underscores the importance of synthetic datasets and GANs in addressing domain-specific challenges in image processing tasks. The proposed framework holds promise for various applications in remote sensing, medical imaging, and surveillance where accurate color representation of NIR imagery is crucial for analysis and interpretation.

Keywords: computer vision, near-infrared images, automatic image colorization, generative adversarial networks, synthetic data

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1344 Automation of Savitsky's Method for Power Calculation of High Speed Vessel and Generating Empirical Formula

Authors: M. Towhidur Rahman, Nasim Zaman Piyas, M. Sadiqul Baree, Shahnewaz Ahmed

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The design of high-speed craft has recently become one of the most active areas of naval architecture. Speed increase makes these vehicles more efficient and useful for military, economic or leisure purpose. The planing hull is designed specifically to achieve relatively high speed on the surface of the water. Speed on the water surface is closely related to the size of the vessel and the installed power. The Savitsky method was first presented in 1964 for application to non-monohedric hulls and for application to stepped hulls. This method is well known as a reliable comparative to CFD analysis of hull resistance. A computer program based on Savitsky’s method has been developed using MATLAB. The power of high-speed vessels has been computed in this research. At first, the program reads some principal parameters such as displacement, LCG, Speed, Deadrise angle, inclination of thrust line with respect to keel line etc. and calculates the resistance of the hull using empirical planning equations of Savitsky. However, some functions used in the empirical equations are available only in the graphical form, which is not suitable for the automatic computation. We use digital plotting system to extract data from nomogram. As a result, value of wetted length-beam ratio and trim angle can be determined directly from the input of initial variables, which makes the power calculation automated without manually plotting of secondary variables such as p/b and other coefficients and the regression equations of those functions are derived by using data from different charts. Finally, the trim angle, mean wetted length-beam ratio, frictional coefficient, resistance, and power are computed and compared with the results of Savitsky and good agreement has been observed.

Keywords: nomogram, planing hull, principal parameters, regression

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1343 Adolescent Obesity Leading to Adulthood Cardiovascular Diseases among Punjabi Population

Authors: Manpreet Kaur, Badaruddoza, Sandeep Kaur Brar

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The increasing prevalence of adolescent obesity is one of the major causes to be hypertensive in adulthood. Various statistical methods have been applied to examine the performance of anthropometric indices for the identification of adverse cardiovascular risk profile. The present work was undertaken to determine the significant traditional risk factors through principal component factor analysis (PCFA) among population based Punjabi adolescents aged 10-18 years. Data was collected among adolescent children from different schools situated in urban areas of Punjab, India. Principal component factor analysis (PCFA) was applied to extract orthogonal components from anthropometric and physiometric variables. Association between components were explained by factor loadings. The PCFA extracted four factors, which explained 84.21%, 84.06% and 83.15% of the total variance of the 14 original quantitative traits among boys, girls and combined subjects respectively. Factor 1 has high loading of the traits that reflect adiposity such as waist circumference, BMI and skinfolds among both sexes. However, waist circumference and body mass index are the indicator of abdominal obesity which increases the risk of cardiovascular diseases. The loadings of these two traits have found maximum in girls adolescents (WC=0.924; BMI=0.905). Therefore, factor 1 is the strong indicator of atherosclerosis in adolescents. Factor 2 is predominantly loaded with blood pressures and related traits (SBP, DBP, MBP and pulse rate) which reflect the risk of essential hypertension in adolescent girls and combined subjects, whereas, factor 2 loaded with obesity related traits in boys (weight and hip circumferences). Comparably, factor 3 is loaded with blood pressures in boys and with height and WHR in girls, while factor 4 contains high loading of pulse pressure among boys, girls and combined group of adolescents.

Keywords: adolescent obesity, cvd, hypertension, punjabi population

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1342 Cross-Cultural Study of Stroop Interference among Juvenile Delinquents

Authors: Tanusree Moitra, Garga Chatterjee, Diganta Mukherjee, Anjali Ghosh

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Stroop task is considered to be an important measure of selective attention. However, the color – word Stroop task cannot be administered to the illiterate population. Some of the participants in the present study are illiterate, therefore, object – color Stroop task was used among male juvenile delinquents of India and Bangladesh citizenship (IC & BC), housed in delinquent home in India. The purpose of the study is to test the hypothesis that over - selective attention is present among juvenile delinquents across both the countries. Eighty juvenile delinquents and matched control of 12 – 18 years (50 IC juvenile delinquents, 30 BC juvenile delinquents and 50 Indian control) were shown 24 familiar objects in both typical (e.g. a red apple) and atypical (e.g. a blue apple) color. Repeated – measure factorial ANOVA was used and it was found that all the three groups have taken longer response time in the atypical condition compared to the typical condition. However, contrary to the over - selective attention hypothesis, both groups of juvenile delinquents displayed higher Stroop interference in comparison to the matched control group. The findings of the study can be explained on the basis of anxiety score. IC and BC juvenile delinquents have high anxiety score compared to the control group which indicates that increased anxiety is correlated with the interference produced by the atypical color object stimuli when compared with the typical object stimuli. Funding acknowledgement: Authors acknowledge Department of Science and Technology, Government of India for financial support to the first author of the paper vide Reference no. SR/CSRI/PDF -01/2013 under Cognitive Science Research Initiative (CSRI) to carry out this work.

Keywords: Bangladesh, India, male juvenile delinquent, objects - color Stroop task

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1341 From Restraint to Obligation: The Protection of the Environment in Times of Armed Conflict

Authors: Aaron Walayat

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Protection of the environment in international law has been one of the most developed in the context of international humanitarian law. This paper examines the history of the protection of the environment in times of armed conflict, beginning with the traditional notion of restraint observed in antiquity towards the obligation to protect the environment, examining the treaties and agreements, both binding and non-binding which have contributed to environmental protection in war. The paper begins with a discussion of the ancient concept of restraint. This section examines the social norms in favor of protection of the environment as observed in the Bible, Greco-Roman mythology, and even more contemporary literature. The study of the traditional rejection of total war establishes the social foundation on which the current legal regime has stemmed. The paper then studies the principle of restraint as codified in international humanitarian law. It mainly examines Additional Protocol I of the Geneva Convention of 1949 and existing international law concerning civilian objects and the principles of international humanitarian law in the classification between civilian objects and military objectives. The paper then explores the environment’s classification as both a military objective and as a civilian object as well as explores arguments in favor of the classification of the whole environment as a civilian object. The paper will then discuss the current legal regime surrounding the protection of the environment, discussing some declarations and conventions including the 1868 Declaration of St. Petersburg, the 1907 Hague Convention No. IV, the Geneva Conventions, and the 1976 Environmental Modification Convention. The paper concludes with the outline noting the movement from codification of the principles of restraint into the various treaties, agreements, and declarations of the current regime of international humanitarian law. This paper provides an analysis of the history and significance of the relationship between international humanitarian law as a major contributor to the growing field of international environmental law.

Keywords: armed conflict, environment, legal regime, restraint

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1340 Kernel-Based Double Nearest Proportion Feature Extraction for Hyperspectral Image Classification

Authors: Hung-Sheng Lin, Cheng-Hsuan Li

Abstract:

Over the past few years, kernel-based algorithms have been widely used to extend some linear feature extraction methods such as principal component analysis (PCA), linear discriminate analysis (LDA), and nonparametric weighted feature extraction (NWFE) to their nonlinear versions, kernel principal component analysis (KPCA), generalized discriminate analysis (GDA), and kernel nonparametric weighted feature extraction (KNWFE), respectively. These nonlinear feature extraction methods can detect nonlinear directions with the largest nonlinear variance or the largest class separability based on the given kernel function. Moreover, they have been applied to improve the target detection or the image classification of hyperspectral images. The double nearest proportion feature extraction (DNP) can effectively reduce the overlap effect and have good performance in hyperspectral image classification. The DNP structure is an extension of the k-nearest neighbor technique. For each sample, there are two corresponding nearest proportions of samples, the self-class nearest proportion and the other-class nearest proportion. The term “nearest proportion” used here consider both the local information and other more global information. With these settings, the effect of the overlap between the sample distributions can be reduced. Usually, the maximum likelihood estimator and the related unbiased estimator are not ideal estimators in high dimensional inference problems, particularly in small data-size situation. Hence, an improved estimator by shrinkage estimation (regularization) is proposed. Based on the DNP structure, LDA is included as a special case. In this paper, the kernel method is applied to extend DNP to kernel-based DNP (KDNP). In addition to the advantages of DNP, KDNP surpasses DNP in the experimental results. According to the experiments on the real hyperspectral image data sets, the classification performance of KDNP is better than that of PCA, LDA, NWFE, and their kernel versions, KPCA, GDA, and KNWFE.

Keywords: feature extraction, kernel method, double nearest proportion feature extraction, kernel double nearest feature extraction

Procedia PDF Downloads 323
1339 Keynote Talk: The Role of Internet of Things in the Smart Cities Power System

Authors: Abdul-Rahman Al-Ali

Abstract:

As the number of mobile devices is growing exponentially, it is estimated to connect about 50 million devices to the Internet by the year 2020. At the end of this decade, it is expected that an average of eight connected devices per person worldwide. The 50 billion devices are not mobile phones and data browsing gadgets only, but machine-to-machine and man-to-machine devices. With such growing numbers of devices the Internet of Things (I.o.T) concept is one of the emerging technologies as of recently. Within the smart grid technologies, smart home appliances, Intelligent Electronic Devices (IED) and Distributed Energy Resources (DER) are major I.o.T objects that can be addressable using the IPV6. These objects are called the smart grid internet of things (SG-I.o.T). The SG-I.o.T generates big data that requires high-speed computing infrastructure, widespread computer networks, big data storage, software, and platforms services. A company’s utility control and data centers cannot handle such a large number of devices, high-speed processing, and massive data storage. Building large data center’s infrastructure takes a long time, it also requires widespread communication networks and huge capital investment. To maintain and upgrade control and data centers’ infrastructure and communication networks as well as updating and renewing software licenses which collectively, requires additional cost. This can be overcome by utilizing the emerging computing paradigms such as cloud computing. This can be used as a smart grid enabler to replace the legacy of utilities data centers. The talk will highlight the role of I.o.T, cloud computing services and their development models within the smart grid technologies.

Keywords: intelligent electronic devices (IED), distributed energy resources (DER), internet, smart home appliances

Procedia PDF Downloads 301
1338 Understanding the Impact of Spatial Light Distribution on Object Identification in Low Vision: A Pilot Psychophysical Study

Authors: Alexandre Faure, Yoko Mizokami, éRic Dinet

Abstract:

These recent years, the potential of light in assisting visually impaired people in their indoor mobility has been demonstrated by different studies. Implementing smart lighting systems for selective visual enhancement, especially designed for low-vision people, is an approach that breaks with the existing visual aids. The appearance of the surface of an object is significantly influenced by the lighting conditions and the constituent materials of the objects. Appearance of objects may appear to be different from expectation. Therefore, lighting conditions lead to an important part of accurate material recognition. The main objective of this work was to investigate the effect of the spatial distribution of light on object identification in the context of low vision. The purpose was to determine whether and what specific lighting approaches should be preferred for visually impaired people. A psychophysical experiment was designed to study the ability of individuals to identify the smallest cube of a pair under different lighting diffusion conditions. Participants were divided into two distinct groups: a reference group of observers with normal or corrected-to-normal visual acuity and a test group, in which observers were required to wear visual impairment simulation glasses. All participants were presented with pairs of cubes in a "miniature room" and were instructed to estimate the relative size of the two cubes. The miniature room replicates real-life settings, adorned with decorations and separated from external light sources by black curtains. The correlated color temperature was set to 6000 K, and the horizontal illuminance at the object level at approximately 240 lux. The objects presented for comparison consisted of 11 white cubes and 11 black cubes of different sizes manufactured with a 3D printer. Participants were seated 60 cm away from the objects. Two different levels of light diffuseness were implemented. After receiving instructions, participants were asked to judge whether the two presented cubes were the same size or if one was smaller. They provided one of five possible answers: "Left one is smaller," "Left one is smaller but unsure," "Same size," "Right one is smaller," or "Right one is smaller but unsure.". The method of constant stimuli was used, presenting stimulus pairs in a random order to prevent learning and expectation biases. Each pair consisted of a comparison stimulus and a reference cube. A psychometric function was constructed to link stimulus value with the frequency of correct detection, aiming to determine the 50% correct detection threshold. Collected data were analyzed through graphs illustrating participants' responses to stimuli, with accuracy increasing as the size difference between cubes grew. Statistical analyses, including 2-way ANOVA tests, showed that light diffuseness had no significant impact on the difference threshold, whereas object color had a significant influence in low vision scenarios. The first results and trends derived from this pilot experiment clearly and strongly suggest that future investigations could explore extreme diffusion conditions to comprehensively assess the impact of diffusion on object identification. For example, the first findings related to light diffuseness may be attributed to the range of manipulation, emphasizing the need to explore how other lighting-related factors interact with diffuseness.

Keywords: Lighting, Low Vision, Visual Aid, Object Identification, Psychophysical Experiment

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1337 Using Artificial Neural Networks for Optical Imaging of Fluorescent Biomarkers

Authors: K. A. Laptinskiy, S. A. Burikov, A. M. Vervald, S. A. Dolenko, T. A. Dolenko

Abstract:

The article presents the results of the application of artificial neural networks to separate the fluorescent contribution of nanodiamonds used as biomarkers, adsorbents and carriers of drugs in biomedicine, from a fluorescent background of own biological fluorophores. The principal possibility of solving this problem is shown. Use of neural network architecture let to detect fluorescence of nanodiamonds against the background autofluorescence of egg white with high accuracy - better than 3 ug/ml.

Keywords: artificial neural networks, fluorescence, data aggregation, biomarkers

Procedia PDF Downloads 683
1336 Image Segmentation Using 2-D Histogram in RGB Color Space in Digital Libraries

Authors: El Asnaoui Khalid, Aksasse Brahim, Ouanan Mohammed

Abstract:

This paper presents an unsupervised color image segmentation method. It is based on a hierarchical analysis of 2-D histogram in RGB color space. This histogram minimizes storage space of images and thus facilitates the operations between them. The improved segmentation approach shows a better identification of objects in a color image and, at the same time, the system is fast.

Keywords: image segmentation, hierarchical analysis, 2-D histogram, classification

Procedia PDF Downloads 356
1335 A Robust Visual Simultaneous Localization and Mapping for Indoor Dynamic Environment

Authors: Xiang Zhang, Daohong Yang, Ziyuan Wu, Lei Li, Wanting Zhou

Abstract:

Visual Simultaneous Localization and Mapping (VSLAM) uses cameras to collect information in unknown environments to realize simultaneous localization and environment map construction, which has a wide range of applications in autonomous driving, virtual reality and other related fields. At present, the related research achievements about VSLAM can maintain high accuracy in static environment. But in dynamic environment, due to the presence of moving objects in the scene, the movement of these objects will reduce the stability of VSLAM system, resulting in inaccurate localization and mapping, or even failure. In this paper, a robust VSLAM method was proposed to effectively deal with the problem in dynamic environment. We proposed a dynamic region removal scheme based on semantic segmentation neural networks and geometric constraints. Firstly, semantic extraction neural network is used to extract prior active motion region, prior static region and prior passive motion region in the environment. Then, the light weight frame tracking module initializes the transform pose between the previous frame and the current frame on the prior static region. A motion consistency detection module based on multi-view geometry and scene flow is used to divide the environment into static region and dynamic region. Thus, the dynamic object region was successfully eliminated. Finally, only the static region is used for tracking thread. Our research is based on the ORBSLAM3 system, which is one of the most effective VSLAM systems available. We evaluated our method on the TUM RGB-D benchmark and the results demonstrate that the proposed VSLAM method improves the accuracy of the original ORBSLAM3 by 70%˜98.5% under high dynamic environment.

Keywords: dynamic scene, dynamic visual SLAM, semantic segmentation, scene flow, VSLAM

Procedia PDF Downloads 86
1334 A Survey on Internet of Things and Fog Computing as a Platform for Internet of Things

Authors: Samira Kalantary, Sara Taghipour, Mansoure Ghias Abadi

Abstract:

The Internet of Things (IOT) is a technological revolution that represents the future of computing and communications. IOT is the convergence of Internet with RFID, NFC, Sensor, and smart objects. Fog Computing is the natural platform for IOT. At present, the IOT as a new network communication technology has rapidly shifted from concept to application under fog computing virtual storage computing platform. In this paper, we describe everything about IOT and difference between cloud computing and fog computing.

Keywords: cloud computing, fog computing, Internet of Things (IoT), IOT application

Procedia PDF Downloads 556
1333 Orbit Determination from Two Position Vectors Using Finite Difference Method

Authors: Akhilesh Kumar, Sathyanarayan G., Nirmala S.

Abstract:

An unusual approach is developed to determine the orbit of satellites/space objects. The determination of orbits is considered a boundary value problem and has been solved using the finite difference method (FDM). Only positions of the satellites/space objects are known at two end times taken as boundary conditions. The technique of finite difference has been used to calculate the orbit between end times. In this approach, the governing equation is defined as the satellite's equation of motion with a perturbed acceleration. Using the finite difference method, the governing equations and boundary conditions are discretized. The resulting system of algebraic equations is solved using Tri Diagonal Matrix Algorithm (TDMA) until convergence is achieved. This methodology test and evaluation has been done using all GPS satellite orbits from National Geospatial-Intelligence Agency (NGA) precise product for Doy 125, 2023. Towards this, two hours of twelve sets have been taken into consideration. Only positions at the end times of each twelve sets are considered boundary conditions. This algorithm is applied to all GPS satellites. Results achieved using FDM compared with the results of NGA precise orbits. The maximum RSS error for the position is 0.48 [m] and the velocity is 0.43 [mm/sec]. Also, the present algorithm is applied on the IRNSS satellites for Doy 220, 2023. The maximum RSS error for the position is 0.49 [m], and for velocity is 0.28 [mm/sec]. Next, a simulation has been done for a Highly Elliptical orbit for DOY 63, 2023, for the duration of 6 hours. The RSS of difference in position is 0.92 [m] and velocity is 1.58 [mm/sec] for the orbital speed of more than 5km/sec. Whereas the RSS of difference in position is 0.13 [m] and velocity is 0.12 [mm/sec] for the orbital speed less than 5km/sec. Results show that the newly created method is reliable and accurate. Further applications of the developed methodology include missile and spacecraft targeting, orbit design (mission planning), space rendezvous and interception, space debris correlation, and navigation solutions.

Keywords: finite difference method, grid generation, NavIC system, orbit perturbation

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1332 Multidimensional Poverty and Its Correlates among Rural Households in Limpopo Province, South Africa

Authors: Tamunotonye Mayowa Braide, Isaac Oluwatayo

Abstract:

This study investigates multidimensional poverty, and its correlates among rural households in Sekhukhune and Capricorn District municipalities (SDM & CDM) in Limpopo Province, South Africa. Primary data were collected from 407 rural households selected through purposive and simple random sampling techniques. Analytical techniques employed include descriptive statistics, principal component analysis (PCA), and the Alkire Foster (A-F) methodology. The results of the descriptive statistics showed there are more females (66%) than males (34%) in rural areas of Limpopo Province, with about 45% of them having secondary school education as the highest educational level attained and only about 3% do not have formal education. In the analysis of deprivation, eight dimensions of deprivation, constructed from 21 variables, were identified using the PCA. These dimensions include type and condition of dwelling water and sanitation, educational attainment and income, type of fuel for cooking and heating, access to clothing and cell phone, assets and fuel for light, health condition, crowding, and child health. In identifying the poor with poverty cut-off (0.13) of all indicators, about 75.9% of the rural households are deprived in 25% of the total dimensions, with the adjusted headcount ratio (M0) being 0.19. Multidimensional poverty estimates showed higher estimates of poor rural households with 71%, compared to 29%, which fall below the income poverty line. The study conducted poverty decomposition, using sub-groups within the area by examining regions and household characteristics. In SDM, there are more multidimensionally poor households than in CDM. The water and sanitation dimension is the largest contributor to the multidimensional poverty index (MPI) in rural areas of Limpopo Province. The findings can, therefore, assist in better design of welfare policy and target poverty alleviation programs and as well help in efficient resource allocation at the provincial and local municipality levels.

Keywords: Alkire-Foster methodology, Limpopo province, multidimensional poverty, principal component analysis, South Africa

Procedia PDF Downloads 142
1331 Seasonal Assessment of Snow Cover Dynamics Based on Aerospace Multispectral Data on Livingston Island, South Shetland Islands in Antarctica and on Svalbard in Arctic

Authors: Temenuzhka Spasova, Nadya Yanakieva

Abstract:

Snow modulates the hydrological cycle and influences the functioning of ecosystems and is a significant resource for many populations whose water is harvested from cold regions. Snow observations are important for validating climate models. The accumulation and rapid melt of snow are two of the most dynamical seasonal environmental changes on the Earth’s surface. The actuality of this research is related to the modern tendencies of the remote sensing application in the solution of problems of different nature in the ecological monitoring of the environment. The subject of the study is the dynamic during the different seasons on Livingstone Island, South Shetland Islands in Antarctica and on Svalbard in Arctic. The objects were analyzed and mapped according to the Еuropean Space Agency data (ESA), acquired by sensors Sentinel-1 SAR (Synthetic Aperture Radar), Sentinel 2 MSI and GIS. Results have been obtained for changes in snow coverage during the summer-winter transition and its dynamics in the two hemispheres. The data used is of high time-spatial resolution, which is an advantage when looking at the snow cover. The MSI images are with different spatial resolution at the Earth surface range. The changes of the environmental objects are shown with the SAR images and different processing approaches. The results clearly show that snow and snow melting can be best registered by using SAR data via hh- horizontal polarization. The effect of the researcher on aerospace data and technology enables us to obtain different digital models, structuring and analyzing results excluding the subjective factor. Because of the large extent of terrestrial snow coverage and the difficulties in obtaining ground measurements over cold regions, remote sensing and GIS represent an important tool for studying snow areas and properties from regional to global scales.

Keywords: climate changes, GIS, remote sensing, SAR images, snow coverage

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1330 Exploratory Factor Analysis of Natural Disaster Preparedness Awareness of Thai Citizens

Authors: Chaiyaset Promsri

Abstract:

Based on the synthesis of related literatures, this research found thirteen related dimensions that involved the development of natural disaster preparedness awareness including hazard knowledge, hazard attitude, training for disaster preparedness, rehearsal and practice for disaster preparedness, cultural development for preparedness, public relations and communication, storytelling, disaster awareness game, simulation, past experience to natural disaster, information sharing with family members, and commitment to the community (time of living).  The 40-item of natural disaster preparedness awareness questionnaire was developed based on these thirteen dimensions. Data were collected from 595 participants in Bangkok metropolitan and vicinity. Cronbach's alpha was used to examine the internal consistency for this instrument. Reliability coefficient was 97, which was highly acceptable.  Exploratory Factor Analysis where principal axis factor analysis was employed. The Kaiser-Meyer-Olkin index of sampling adequacy was .973, indicating that the data represented a homogeneous collection of variables suitable for factor analysis. Bartlett's test of Sphericity was significant for the sample as Chi-Square = 23168.657, df = 780, and p-value < .0001, which indicated that the set of correlations in the correlation matrix was significantly different and acceptable for utilizing EFA. Factor extraction was done to determine the number of factors by using principal component analysis and varimax.  The result revealed that four factors had Eigen value greater than 1 with more than 60% cumulative of variance. Factor #1 had Eigen value of 22.270, and factor loadings ranged from 0.626-0.760. This factor was named as "Knowledge and Attitude of Natural Disaster Preparedness".  Factor #2 had Eigen value of 2.491, and factor loadings ranged from 0.596-0.696. This factor was named as "Training and Development". Factor #3 had Eigen value of 1.821, and factor loadings ranged from 0.643-0.777. This factor was named as "Building Experiences about Disaster Preparedness".  Factor #4 had Eigen value of 1.365, and factor loadings ranged from 0.657-0.760. This was named as "Family and Community". The results of this study provided support for the reliability and construct validity of natural disaster preparedness awareness for utilizing with populations similar to sample employed.

Keywords: natural disaster, disaster preparedness, disaster awareness, Thai citizens

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1329 Aerodynamic Analysis of Vehicles

Authors: E. T. L. Cöuras Ford, V. A. C. Vale, J. U. L. Mendes

Abstract:

Two of the objective principal in the study of the aerodynamics of vehicles are the safety and the acting. Those objectives can be reached through the development of devices modify the drainage of air about of the vehicle and also through alterations in the way of the external surfaces. The front lowest profile of the vehicle, for instance, has great influence on the coefficient of aerodynamic penetration (Cx) and later on great part of the pressure distribution along the surface of the vehicle. The objective of this work was of analyzing the aerodynamic behavior that it happens on some types the trucks of vehicles, based on experimentation in aerodynamic tunnel, seeking to determine the aerodynamic efficiency of each one of them.

Keywords: aerodynamic, vehicles, wind tunnel, safety, acting

Procedia PDF Downloads 474
1328 Architectural Framework to Preserve Information of Cardiac Valve Control

Authors: Lucia Carrion Gordon, Jaime Santiago Sanchez Reinoso

Abstract:

According to the relation of Digital Preservation and the Health field as a case of study, the architectural model help us to explain that definitions. .The principal goal of Data Preservation is to keep information for a long term. Regarding of Mediacal information, in order to perform a heart transplant, physicians need to preserve this organ in an adequate way. This approach between the two perspectives, the medical and the technological allow checking the similarities about the concepts of preservation. Digital preservation and medical advances are related in the same level as knowledge improvement.

Keywords: medical management, digital, data, heritage, preservation

Procedia PDF Downloads 400
1327 Combining a Continuum of Hidden Regimes and a Heteroskedastic Three-Factor Model in Option Pricing

Authors: Rachid Belhachemi, Pierre Rostan, Alexandra Rostan

Abstract:

This paper develops a discrete-time option pricing model for index options. The model consists of two key ingredients. First, daily stock return innovations are driven by a continuous hidden threshold mixed skew-normal (HTSN) distribution which generates conditional non-normality that is needed to fit daily index return. The most important feature of the HTSN is the inclusion of a latent state variable with a continuum of states, unlike the traditional mixture distributions where the state variable is discrete with little number of states. The HTSN distribution belongs to the class of univariate probability distributions where parameters of the distribution capture the dependence between the variable of interest and the continuous latent state variable (the regime). The distribution has an interpretation in terms of a mixture distribution with time-varying mixing probabilities. It has been shown empirically that this distribution outperforms its main competitor, the mixed normal (MN) distribution, in terms of capturing the stylized facts known for stock returns, namely, volatility clustering, leverage effect, skewness, kurtosis and regime dependence. Second, heteroscedasticity in the model is captured by a threeexogenous-factor GARCH model (GARCHX), where the factors are taken from the principal components analysis of various world indices and presents an application to option pricing. The factors of the GARCHX model are extracted from a matrix of world indices applying principal component analysis (PCA). The empirically determined factors are uncorrelated and represent truly different common components driving the returns. Both factors and the eight parameters inherent to the HTSN distribution aim at capturing the impact of the state of the economy on price levels since distribution parameters have economic interpretations in terms of conditional volatilities and correlations of the returns with the hidden continuous state. The PCA identifies statistically independent factors affecting the random evolution of a given pool of assets -in our paper a pool of international stock indices- and sorting them by order of relative importance. The PCA computes a historical cross asset covariance matrix and identifies principal components representing independent factors. In our paper, factors are used to calibrate the HTSN-GARCHX model and are ultimately responsible for the nature of the distribution of random variables being generated. We benchmark our model to the MN-GARCHX model following the same PCA methodology and the standard Black-Scholes model. We show that our model outperforms the benchmark in terms of RMSE in dollar losses for put and call options, which in turn outperforms the analytical Black-Scholes by capturing the stylized facts known for index returns, namely, volatility clustering, leverage effect, skewness, kurtosis and regime dependence.

Keywords: continuous hidden threshold, factor models, GARCHX models, option pricing, risk-premium

Procedia PDF Downloads 284