Search results for: temporary price reduction
5708 Critical Success Factor of Exporting Thailand’s Ginger to Japan
Authors: Phutthiwat Waiyawuththanapoom, Pimploi Tirastittam, Manop Tirastittam
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Thailand is the agriculture country which mainly exports the agriculture product to the other countries in so many ways which are fresh vegetable, chilled vegetable or frozen vegetable. The gross export for Thailand’s vegetable is 30-40 billion baht per year, and the growth rate is about 15-20 percent per year. Ginger is one of the main vegetable product that Thailand export to Japan because Thailand’s Ginger has a good quality and be able to supply Japan’s demand with a reasonable price. This research paper is aimed to study the factors which affect the efficiency of the supply chain process of Thailand’s ginger to Japan. There are 5 factors which related to the exporting Thailand’s ginger to Japan which are quality, price, equipment and supply standard, custom process and distribution pattern. The result of the research showed that the factor which reached the 'very good' significant level is quality of Thailand’s ginger with the score of 4.86. The other 5 factors are in the 'good' significant level. So the most important factor for Thai ginger farmer to concern is the quality of the product.Keywords: critical success factor, export, ginger, supply chain
Procedia PDF Downloads 3685707 First Report of Asiatic Black Bear: Evidence of Illegal Hunting and Trading from Manglawar Mountain, Swat, Pakistan
Authors: Waheed Akhtar
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Bears in Asia facing multiple threats and challenges such as hunting, illegal trading, habitat loss, and human conflicts. According to IUCN Red List, the Asiatic black bear (Ursus thibetanus) is listed as Vulnerable since 1990, population declining by 49% during the last 30 years. The present study was conducted in Manglawar (DwaSaro Mountain) from April-August 2021, to collect all the information on Asiatic black bear observation, illegal hunting, and cub poaching. According to the response of the local community, very intensive illegal hunting and cub poaching were observed. Hunters usually installed many traps in the routes of black bears and when they move in the winter season the cubs get trapped and they collect them and kept in a specialized wooden box that is mainly helpful for further transportation. These cubs are then brought to the concerned Market where they sell them to many dealers. One of the potential observers of the illegal trading responds towards the Market price of the cubs, “The average price of the black bear cub is ranging from 45000-50000 Pakistani Rupees”. Apart from cubs' poaching, the black bear is also hunted for its skin, claws, and teeth.Keywords: first report, illegal hunting, cub poaching, parts trading, Ursus thibetanus
Procedia PDF Downloads 635706 A Multi-Role Oriented Collaboration Platform for Distributed Disaster Reduction in China
Authors: Linyao Qiu, Zhiqiang Du
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As the rapid development of urbanization, economic developments, and steady population growth in China, the widespread devastation, economic damages, and loss of human lives caused by numerous forms of natural disasters are becoming increasingly serious every year. Disaster management requires available and effective cooperation of different roles and organizations in whole process including mitigation, preparedness, response and recovery. Due to the imbalance of regional development in China, the disaster management capabilities of national and provincial disaster reduction centers are uneven. When an undeveloped area suffers from disaster, neither local reduction department could get first-hand information like high-resolution remote sensing images from satellites and aircrafts independently, nor sharing mechanism is provided for the department to access to data resources deployed in other place directly. Most existing disaster management systems operate in a typical passive data-centric mode and work for single department, where resources cannot be fully shared. The impediment blocks local department and group from quick emergency response and decision-making. In this paper, we introduce a collaborative platform for distributed disaster reduction. To address the issues of imbalance of sharing data sources and technology in the process of disaster reduction, we propose a multi-role oriented collaboration business mechanism, which is capable of scheduling and allocating for optimum utilization of multiple resources, to link various roles for collaborative reduction business in different place. The platform fully considers the difference of equipment conditions in different provinces and provide several service modes to satisfy technology need in disaster reduction. An integrated collaboration system based on focusing services mechanism is designed and implemented for resource scheduling, functional integration, data processing, task management, collaborative mapping, and visualization. Actual applications illustrate that the platform can well support data sharing and business collaboration between national and provincial department. It could significantly improve the capability of disaster reduction in China.Keywords: business collaboration, data sharing, distributed disaster reduction, focusing service
Procedia PDF Downloads 2955705 Factors Relating to Travel Behavior at the Floating Market of Thai Tourists
Authors: Siri-orn Champatong
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The purpose of this research was to study factors that were related with travel behaviors of Thai tourists at the Ayothaya Floating Market, Phra Nakhon Sri Ayutthaya. The quantitative research was conducted with 400 samples of Thai tourists traveling to the Ayothaya Floating Market. The Questionnaire was a tool used to collect data, and the statistics used for data analysis were mean and Pearson product moment correlation coefficient. The results found that Thai tourists focused on attraction, easy access and facilities of the tourist spot at a high level. In addition, they gave priority to the marketing mix in the dimension of products, price, and distribution channels at a high level as well. For marketing promotion, it was at the moderate level. The results of hypothesis testing revealed that factors related to the attractions of the tourist destination, easy access to the tourist destination, the facilities of the tourist spot, and product and price of the marketing mix were associated with travel behaviors in the aspect of the number of visits used and the budget on tourism.Keywords: floating market, marketing mix, tourism attractions, travelling behavior
Procedia PDF Downloads 2865704 Optimization Design of Single Phase Inverter Connected to the Grid
Authors: Linda Hassaine, Abdelhamid Mraoui, Mohamed Rida Bengourina
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In grid-connected photovoltaic systems, significant improvements can be carried out in the design and implementation of inverters: reduction of harmonic distortion, elimination of the DC component injected into the grid and the proposed control. This paper proposes a control strategy based on PWM switching patterns for an inverter for the photovoltaic system connected to the grid in order to control the injected current. The current injected must be sinusoidal with reduced harmonic distortion. An additional filter is designed to reduce high-order harmonics on the output side. This strategy exhibits the advantages: Simplicity, reduction of harmonics, the size of the line filter, reduction of the memory requirements and power calculation for the control.Keywords: control, inverters, LCL filter, grid-connected photovoltaic system
Procedia PDF Downloads 3255703 Preparation and Characterization of Photocatalyst for the Conversion of Carbon Dioxide to Methanol
Authors: D. M. Reddy Prasad, Nur Sabrina Binti Rahmat, Huei Ruey Ong, Chin Kui Cheng, Maksudur Rahman Khan, D. Sathiyamoorthy
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Carbon dioxide (CO2) emission to the environment is inevitable which is responsible for global warming. Photocatalytic reduction of CO2 to fuel, such as methanol, methane etc. is a promising way to reduce greenhouse gas CO2 emission. In the present work, Bi2S3/CdS was synthesized as an effective visible light responsive photocatalyst for CO2 reduction into methanol. The Bi2S3/CdS photocatalyst was prepared by hydrothermal reaction. The catalyst was characterized by X-ray diffraction (XRD) instrument. The photocatalytic activity of the catalyst has been investigated for methanol production as a function of time. Gas chromatograph flame ionization detector (GC-FID) was employed to analyze the product. The yield of methanol was found to increase with higher CdS concentration in Bi2S3/CdS and the maximum yield was obtained for 45 wt% of Bi2S3/CdS under visible light irradiation was 20 μmole/g. The result establishes that Bi2S3/CdS is favorable catalyst to reduce CO2 to methanol.Keywords: photocatalyst, CO2 reduction, methanol, visible light, XRD, GC-FID
Procedia PDF Downloads 5015702 Real Estate Trend Prediction with Artificial Intelligence Techniques
Authors: Sophia Liang Zhou
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For investors, businesses, consumers, and governments, an accurate assessment of future housing prices is crucial to critical decisions in resource allocation, policy formation, and investment strategies. Previous studies are contradictory about macroeconomic determinants of housing price and largely focused on one or two areas using point prediction. This study aims to develop data-driven models to accurately predict future housing market trends in different markets. This work studied five different metropolitan areas representing different market trends and compared three-time lagging situations: no lag, 6-month lag, and 12-month lag. Linear regression (LR), random forest (RF), and artificial neural network (ANN) were employed to model the real estate price using datasets with S&P/Case-Shiller home price index and 12 demographic and macroeconomic features, such as gross domestic product (GDP), resident population, personal income, etc. in five metropolitan areas: Boston, Dallas, New York, Chicago, and San Francisco. The data from March 2005 to December 2018 were collected from the Federal Reserve Bank, FBI, and Freddie Mac. In the original data, some factors are monthly, some quarterly, and some yearly. Thus, two methods to compensate missing values, backfill or interpolation, were compared. The models were evaluated by accuracy, mean absolute error, and root mean square error. The LR and ANN models outperformed the RF model due to RF’s inherent limitations. Both ANN and LR methods generated predictive models with high accuracy ( > 95%). It was found that personal income, GDP, population, and measures of debt consistently appeared as the most important factors. It also showed that technique to compensate missing values in the dataset and implementation of time lag can have a significant influence on the model performance and require further investigation. The best performing models varied for each area, but the backfilled 12-month lag LR models and the interpolated no lag ANN models showed the best stable performance overall, with accuracies > 95% for each city. This study reveals the influence of input variables in different markets. It also provides evidence to support future studies to identify the optimal time lag and data imputing methods for establishing accurate predictive models.Keywords: linear regression, random forest, artificial neural network, real estate price prediction
Procedia PDF Downloads 1035701 Continuous Synthesis of Nickel Nanoparticles by Hydrazine Reduction
Authors: Yong-Su Jo, Seung-Min Yang, Seok Hong Min, Tae Kwon Ha
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The synthesis of nickel nanoparticles by the reduction of nickel chloride with hydrazine in an aqueous solution. The effect of hydrazine concentration on batch-processed particle characteristics was investigated using Field Emission Scanning Electron Microscopy (FESEM). Both average particle size and geometric standard deviation (GSD) were decreasing with increasing hydrazine concentration. The continuous synthesis of nickel nanoparticles by microemulsion method was also studied using FESEM and X-ray Diffraction (XRD). The average size and geometric standard deviation of continuous-processed particles were 87.4 nm and 1.16, respectively. X-ray diffraction revealed continuous-processed particles were pure nickel crystalline with a face-centered cubic (fcc) structure.Keywords: nanoparticle, hydrazine reduction, continuous process, microemulsion method
Procedia PDF Downloads 4585700 Evaluation of the Impact of Scraping Operations during Winter Road Maintenance on Pavement Skid Resistance
Authors: Garance Liaboeuf, Mohamed Bouteldja, Antoine Martinet, Nicolas Grignard, Damien Pilet, Ali Daouadji, Alain Le Bot
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A series of in-situ tests is set up to evaluate and quantify the long-term effects of scraping operations using steel plows on the skid resistance of pavements. Three pavements are tested, and a total number of 1.800 snowplow scrapings are applied. The skid resistance of the pavements is measured periodically using two indicators on two scales: an average profile depth (macrotexture) and a longitudinal friction coefficient (microtexture). The results of these tests show a reduction in the average profile depth between 4 % and 10 %, depending on the asphalt composition. This reduction of macrotexture is correlated with the reduction of high points on surfaces due to the removal of portions of the aggregate surfaces. The longitudinal friction coefficient of pavements decreases by 4% to 10%. This reduction in microtexture is related to the polishing of the surface of the aggregate used in the pavements. These variations of skid resistance are not linear. A phenomenon of regeneration of the friction coefficient is observed for pavements composed of sand-lime aggregates after several scraping operations.Keywords: GripTester, macrotexture, microtexture, pavement, skid resistance, snowplow, TM2, winter road maintenance
Procedia PDF Downloads 705699 Market Illiquidity and Pricing Errors in the Term Structure of CDS
Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano
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This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage
Procedia PDF Downloads 5695698 Electroactivity of Clostridium saccharoperbutylacetonicum 1-4N during Carbon Dioxide Reduction in a Bioelectrosynthesis System
Authors: Carlos A. Garcia-Mogollon, Juan C. Quintero-Diaz, Claudio Avignone-Rossa
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Clostridium saccharoperbutylacetonicum 1-4N (Csb 1-4N) is an industrial reference strain for Acetone-Butanol-Ethanol (ABE) fermentation. Csb 1-4N is a solventogenic clostridium and H₂ producer with a metabolic profile that makes it a good candidate for Bioelectrosynthesis System (BES). The aim of this study was to evaluate the electroactivity of Csb 1-4N by cyclic voltammetry technique (CV). The Bioelectrosynthesis fermentation (BES) started in a Triptone-Yeast extract (TY) medium with trace elements and vitamins, Complex Nitrogen Source (CNS), and bicarbonate (NaHCO₃, 4g/L) as a carbon source, run at -600mVAg/AgCl and adding 200uM NADH. The six BES batches were performed with different media composition with and without NADH, CNS, HCO₃⁻ , and applied potential. The CV was performed as three-electrode system: platinum slice working electrode (WE), nickel contra electrode (CE) and reference electrode Ag/AgCl (ER). CVs were run in a potential range of -0.7V to 0.7V vs. VAg/AgCl at a scan rate 10mV/s. A CV recorded using different NaHCO₃ concentrations (0.25; 0.5; 1.0; 4g/L) were obtained. BES fermentation samples were centrifuged (3000 rpm, 5min, 4C), and supernatant (7mL) was used. CVs were obtained for Csb1-4N BES culture cell-free supernatant at 0h, 24h, and 48h. The electrochemical analysis was carried out with a PalmSens 4.0 potentiostat/galvanostat controlled with the PStrace 5.7 software, and CVs curves were characterized by reduction and oxidation currents and reduction and oxidation peaks. The CVs obtained for NaHCO₃ solutions showed that the reduction current and oxidation current decreased as the NaHCO₃ concentration was decreased. All reduction and oxidation currents decreased until exponential growth stop (24h), independence of initial cathodic current, except in medium with trace elements, vitamins, and NaHCO3, in which reduction current was around half at 24h and followed decreasing at 48. In this medium, Csb1-4N did not grow, but pH was increased, indicating that NaHCO₃ was reduced as the reduction current decreased. In general, at 48h reduction currents did not present important changes between different mediums in BES cultures. In terms of intensities in the peaks (Ip) did not present important variations; except with Ipa and Ipc in BES culture with NaHCO₃ and NADH added are higher than peaks in other cultures. Based on results, cathodic and anodic currents changes were induced by NaHCO₃ reduction reactions during Csb1-4N metabolic activity in different BES experiments.Keywords: clostridium saccharoperbutylacetonicum 1-4N, bioelectrosynthesis, carbon dioxide fixation, cyclic voltammetry
Procedia PDF Downloads 1365697 Seismic Response of Viscoelastic Dampers for Steel Structures
Authors: Ali Khoshraftar, S. A. Hashemi
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This paper is focused on the advantages of Viscoelastic Dampers (VED) to be used as energy-absorbing devices in buildings. The properties of VED are briefly described. The analytical studies of the model structures exhibiting the structural response reduction due to these viscoelastic devices are presented. Computer simulation of the damped response of a multi-storey steel frame structure shows significant reduction in floor displacement levels.Keywords: dampers, seismic evaluation, steel frames, viscoelastic
Procedia PDF Downloads 4835696 On the Effectiveness of Electricity Market Development Strategies: A Target Model for a Developing Country
Authors: Ezgi Avci-Surucu, Doganbey Akgul
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Turkey’s energy reforms has achieved energy security through a variety of interlinked measures including electricity, gas, renewable energy and energy efficiency legislation; the establishment of an energy sector regulatory authority; energy price reform; the creation of a functional electricity market; restructuring of state-owned energy enterprises; and private sector participation through privatization and new investment. However, current strategies, namely; “Electricity Sector Reform and Privatization Strategy” and “Electricity Market and Supply Security Strategy” has been criticized for various aspects. The present paper analyzes the implementation of the aforementioned strategies in the framework of generation scheduling, transmission constraints, bidding structure and general aspects; and argues the deficiencies of current strategies which decelerates power investments and creates uncertainties. We conclude by policy suggestions to eliminate these deficiencies in terms of price and risk management, infrastructure, customer focused regulations and systematic market development.Keywords: electricity markets, risk management, regulations, balancing and settlement, bilateral trading, generation scheduling, bidding structure
Procedia PDF Downloads 5535695 Evaluating Forecasting Strategies for Day-Ahead Electricity Prices: Insights From the Russia-Ukraine Crisis
Authors: Alexandra Papagianni, George Filis, Panagiotis Papadopoulos
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The liberalization of the energy market and the increasing penetration of fluctuating renewables (e.g., wind and solar power) have heightened the importance of the spot market for ensuring efficient electricity supply. This is further emphasized by the EU’s goal of achieving net-zero emissions by 2050. The day-ahead market (DAM) plays a key role in European energy trading, accounting for 80-90% of spot transactions and providing critical insights for next-day pricing. Therefore, short-term electricity price forecasting (EPF) within the DAM is crucial for market participants to make informed decisions and improve their market positioning. Existing literature highlights out-of-sample performance as a key factor in assessing EPF accuracy, with influencing factors such as predictors, forecast horizon, model selection, and strategy. Several studies indicate that electricity demand is a primary price determinant, while renewable energy sources (RES) like wind and solar significantly impact price dynamics, often lowering prices. Additionally, incorporating data from neighboring countries, due to market coupling, further improves forecast accuracy. Most studies predict up to 24 steps ahead using hourly data, while some extend forecasts using higher-frequency data (e.g., half-hourly or quarter-hourly). Short-term EPF methods fall into two main categories: statistical and computational intelligence (CI) methods, with hybrid models combining both. While many studies use advanced statistical methods, particularly through different versions of traditional AR-type models, others apply computational techniques such as artificial neural networks (ANNs) and support vector machines (SVMs). Recent research combines multiple methods to enhance forecasting performance. Despite extensive research on EPF accuracy, a gap remains in understanding how forecasting strategy affects prediction outcomes. While iterated strategies are commonly used, they are often chosen without justification. This paper contributes by examining whether the choice of forecasting strategy impacts the quality of day-ahead price predictions, especially for multi-step forecasts. We evaluate both iterated and direct methods, exploring alternative ways of conducting iterated forecasts on benchmark and state-of-the-art forecasting frameworks. The goal is to assess whether these factors should be considered by end-users to improve forecast quality. We focus on the Greek DAM using data from July 1, 2021, to March 31, 2022. This period is chosen due to significant price volatility in Greece, driven by its dependence on natural gas and limited interconnection capacity with larger European grids. The analysis covers two phases: pre-conflict (January 1, 2022, to February 23, 2022) and post-conflict (February 24, 2022, to March 31, 2022), following the Russian-Ukraine conflict that initiated an energy crisis. We use the mean absolute percentage error (MAPE) and symmetric mean absolute percentage error (sMAPE) for evaluation, as well as the Direction of Change (DoC) measure to assess the accuracy of price movement predictions. Our findings suggest that forecasters need to apply all strategies across different horizons and models. Different strategies may be required for different horizons to optimize both accuracy and directional predictions, ensuring more reliable forecasts.Keywords: short-term electricity price forecast, forecast strategies, forecast horizons, recursive strategy, direct strategy
Procedia PDF Downloads 65694 Optimisation of Wastewater Treatment for Yeast Processing Effluent Using Response Surface Methodology
Authors: Shepherd Manhokwe, Sheron Shoko, Cuthbert Zvidzai
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In the present study, the interactive effects of temperature and cultured bacteria on the performance of a biological treatment system of yeast processing wastewater were investigated. The main objective of this study was to investigate and optimize the operating parameters that reduce organic load and colour. Experiments were conducted based on a Central Composite Design (CCD) and analysed using Response Surface Methodology (RSM). Three dependent parameters were either directly measured or calculated as response. These parameters were total Chemical Oxygen Demand (COD) removal, colour reduction and total solids. COD removal efficiency of 26 % and decolourization efficiency of 44 % were recorded for the wastewater treatment. The optimized conditions for the biological treatment were found to be at 20 g/l cultured bacteria and 25 °C for COD reduction. For colour reduction optimum conditions were temperature of 30.35°C and bacterial formulation of 20g/l. Biological treatment of baker’s yeast processing effluent is a suitable process for the removal of organic load and colour from wastewater, especially when the operating parameters are optimized.Keywords: COD reduction, optimisation, response surface methodology, yeast processing wastewater
Procedia PDF Downloads 3445693 Factors Related to Behaviors of Thai Travelers Traveling to Koh Kred Island, Nonthaburi Province
Authors: Bundit Pungnirund, Boonyada Pahasing
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The objective of this research is to study factors related to behaviors of Thai travelers traveling to Koh Kret Island, Nonthaburi Province. The subjects of this study included 400 Thai travelers coming to Koh Kred. Questionnaires were used to collect data which were analyzed by computer program to find mean and correlation coefficient by Pearson. The results showed that Thai travelers reported their opinions and attitudes in high level on the marketing service mix, product, price, place, promotion, personal, physical evidence, and process. They reported on travelling motivation factor, tourist attraction, and facility at high level. Moreover, marketing service mix, product, price, place, promotion, personal, physical, and process including travelling motivation factor, tourist attraction, and facility had positive relationship with the frequency in travelling at statistically significant level (0.01), though in a low relationship but in the same direction.Keywords: factors, behaviors, Thai travelers, Koh Kled, Nonthaburi Province
Procedia PDF Downloads 2265692 Financial Assessment of the Hard Coal Mining in the Chosen Region in the Czech Republic: Real Options Methodology Application
Authors: Miroslav Čulík, Petr Gurný
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This paper is aimed at the financial assessment of the hard coal mining in a given region by real option methodology application. Hard coal mining in this mine makes net loss for the owner during the last years due to the long-term unfavourable mining conditions and significant drop in the coal prices during the last years. Management is going to shut down the operation and abandon the project to reduce the loss of the company. The goal is to assess whether the shutting down the operation is the only and correct solution of the problem. Due to the uncertainty in the future hard coal price evolution, the production might be again restarted if the price raises enough to cover the cost of the production. For the assessment, real option methodology is applied, which captures two important aspect of the financial decision-making: risk and flexibility. The paper is structured as follows: first, current state is described and problem is analysed. Next, methodology of real options is described. At last, project is evaluated by applying real option methodology. The results are commented and recommendations are provided.Keywords: real option, investment, option to abandon, option to shut down and restart, risk, flexibility
Procedia PDF Downloads 5485691 Artificial Intelligence Methods for Returns Expectations in Financial Markets
Authors: Yosra Mefteh Rekik, Younes Boujelbene
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We introduce in this paper a new conceptual model representing the stock market dynamics. This model is essentially based on cognitive behavior of the intelligence investors. In order to validate our model, we build an artificial stock market simulation based on agent-oriented methodologies. The proposed simulator is composed of market supervisor agent essentially responsible for executing transactions via an order book and various kinds of investor agents depending to their profile. The purpose of this simulation is to understand the influence of psychological character of an investor and its neighborhood on its decision-making and their impact on the market in terms of price fluctuations. Therefore, the difficulty of the prediction is due to several features: the complexity, the non-linearity and the dynamism of the financial market system, as well as the investor psychology. The Artificial Neural Networks learning mechanism take on the role of traders, who from their futures return expectations and place orders based on their expectations. The results of intensive analysis indicate that the existence of agents having heterogeneous beliefs and preferences has provided a better understanding of price dynamics in the financial market.Keywords: artificial intelligence methods, artificial stock market, behavioral modeling, multi-agent based simulation
Procedia PDF Downloads 4455690 Intellectual Property Rights and Health Rights: A Feasible Reform Proposal to Facilitate Access to Drugs in Developing Countries
Authors: M. G. Cattaneo
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The non-effectiveness of certain codified human rights is particularly apparent with reference to the lack of access to essential drugs in developing countries, which represents a breach of the human right to receive adequate health assistance. This paper underlines the conflict and the legal contradictions between human rights, namely health rights, international Intellectual Property Rights, in particular patent law, as well as international trade law. The paper discusses the crucial links between R&D costs for innovation, patents and new medical drugs, with the goal of reformulating the hierarchies of priorities and of interests at stake in the international intellectual property (IP) law system. Different from what happens today, International patent law should be a legal instrument apt at rebalancing an axiological asymmetry between the (conflicting) needs at stake The core argument in the paper is the proposal of an alternative pathway, namely a feasible proposal for a patent law reform. IP laws tend to balance the benefits deriving from innovation with the costs of the provided monopoly, but since developing countries and industrialized countries are in completely different political and economic situations, it is necessary to (re)modulate such exchange according to the different needs. Based on this critical analysis, the paper puts forward a proposal, called Trading Time for Space (TTS), whereby a longer time for patent exclusive life in western countries (Time) is offered to the patent holder company, in exchange for the latter selling the medical drug at cost price in developing countries (Space). Accordingly, pharmaceutical companies should sell drugs in developing countries at the cost price, or alternatively grant a free license for the sale in such countries, without any royalties or fees. However, such social service shall be duly compensated. Therefore, the consideration for such a service shall be an extension of the temporal duration of the patent’s exclusive in the country of origin that will compensate the reduced profits caused by the supply at the price cost in developing countries.Keywords: global health, global justice, patent law reform, access to drugs
Procedia PDF Downloads 2465689 The Effect of Cinnamaldehyde on Escherichia coli Survival during Low Temperature Long Time Cooking
Authors: Fuji Astuti, Helen Onyeaka
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The aim of the study was to investigate the combine effects of cinnamaldehyde (0.25 and 0.45% v/v) on thermal resistance of pathogenic Escherichia coli during low temperature long time (LT-LT) cooking below 60℃. Three different static temperatures (48, 53 and 50℃) were performed, and the number of viable cells was studied. The starting concentrations of cells were 10⁸ CFU/ml. In this experiment, heat treatment efficiency for safe reduction indicated by decimal logarithm reduction of viable recovered cells, which was monitored for heating over 6 hours. Thermal inactivation was measured by means of establishing the death curves between the mean log surviving cells (log₁₀ CFU/ml) and designated time points (minutes) for each temperature test. The findings depicted that addition of cinnamaldehyde exhibited to elevate the thermal sensitivity of E. coli. However, the injured cells found to be well-adapted to all temperature tests after certain time point of cooking, in which they grew to more than 10⁵ CFU/ml.Keywords: cinnamaldehyde, decimal logarithm reduction, Escherichia coli, LT-LT cooking
Procedia PDF Downloads 3585688 Masked Candlestick Model: A Pre-Trained Model for Trading Prediction
Authors: Ling Qi, Matloob Khushi, Josiah Poon
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This paper introduces a pre-trained Masked Candlestick Model (MCM) for trading time-series data. The pre-trained model is based on three core designs. First, we convert trading price data at each data point as a set of normalized elements and produce embeddings of each element. Second, we generate a masked sequence of such embedded elements as inputs for self-supervised learning. Third, we use the encoder mechanism from the transformer to train the inputs. The masked model learns the contextual relations among the sequence of embedded elements, which can aid downstream classification tasks. To evaluate the performance of the pre-trained model, we fine-tune MCM for three different downstream classification tasks to predict future price trends. The fine-tuned models achieved better accuracy rates for all three tasks than the baseline models. To better analyze the effectiveness of MCM, we test the same architecture for three currency pairs, namely EUR/GBP, AUD/USD, and EUR/JPY. The experimentation results demonstrate MCM’s effectiveness on all three currency pairs and indicate the MCM’s capability for signal extraction from trading data.Keywords: masked language model, transformer, time series prediction, trading prediction, embedding, transfer learning, self-supervised learning
Procedia PDF Downloads 1255687 Determinants of Budget Performance in an Oil-Based Economy
Authors: Adeola Adenikinju, Olusanya E. Olubusoye, Lateef O. Akinpelu, Dilinna L. Nwobi
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Since the enactment of the Fiscal Responsibility Act (2007), the Federal Government of Nigeria (FGN) has made public its fiscal budget and the subsequent implementation report. A critical review of these documents shows significant variations in the five macroeconomic variables which are inputs in each Presidential budget; oil Production target (mbpd), oil price ($), Foreign exchange rate(N/$), and Gross Domestic Product growth rate (%) and inflation rate (%). This results in underperformance of the Federal budget expected output in terms of non-oil and oil revenue aggregates. This paper evaluates first the existing variance between budgeted and actuals, then the relationship and causality between the determinants of Federal fiscal budget assumptions, and finally the determinants of FGN’s Gross Oil Revenue. The paper employed the use of descriptive statistics, the Autoregressive distributed lag (ARDL) model, and a Profit oil probabilistic model to achieve these objectives. This model permits for both the static and dynamic effect(s) of the independent variable(s) on the dependent variable, unlike a static model that accounts for static or fixed effect(s) only. It offers a technique for checking the existence of a long-run relationship between variables, unlike other tests of cointegration, such as the Engle-Granger and Johansen tests, which consider only non-stationary series that are integrated of the same order. Finally, even with small sample size, the ARDL model is known to generate a valid result, for it is the dependent variable and is the explanatory variable. The results showed that there is a long-run relationship between oil revenue as a proxy for budget performance and its determinants; oil price, produced oil quantity, and foreign exchange rate. There is a short-run relationship between oil revenue and its determinants; oil price, produced oil quantity, and foreign exchange rate. There is a long-run relationship between non-oil revenue and its determinants; inflation rate, GDP growth rate, and foreign exchange rate. The grangers’ causality test results show that there is a mono-directional causality between oil revenue and its determinants. The Federal budget assumptions only explain 68% of oil revenue and 62% of non-oil revenue. There is a mono-directional causality between non-oil revenue and its determinants. The Profit oil Model describes production sharing contracts, joint ventures, and modified carrying arrangements as the greatest contributors to FGN’s gross oil revenue. This provides empirical justification for the selected macroeconomic variables used in the Federal budget design and performance evaluation. The research recommends other variables, debt and money supply, be included in the Federal budget design to explain the Federal budget revenue performance further.Keywords: ARDL, budget performance, oil price, oil quantity, oil revenue
Procedia PDF Downloads 1725686 A Probabilistic Theory of the Buy-Low and Sell-High for Algorithmic Trading
Authors: Peter Shi
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Algorithmic trading is a rapidly expanding domain within quantitative finance, constituting a substantial portion of trading volumes in the US financial market. The demand for rigorous and robust mathematical theories underpinning these trading algorithms is ever-growing. In this study, the author establishes a new stock market model that integrates the Efficient Market Hypothesis and the statistical arbitrage. The model, for the first time, finds probabilistic relations between the rational price and the market price in terms of the conditional expectation. The theory consequently leads to a mathematical justification of the old market adage: buy-low and sell-high. The thresholds for “low” and “high” are precisely derived using a max-min operation on Bayes’s error. This explicit connection harmonizes the Efficient Market Hypothesis and Statistical Arbitrage, demonstrating their compatibility in explaining market dynamics. The amalgamation represents a pioneering contribution to quantitative finance. The study culminates in comprehensive numerical tests using historical market data, affirming that the “buy-low” and “sell-high” algorithm derived from this theory significantly outperforms the general market over the long term in four out of six distinct market environments.Keywords: efficient market hypothesis, behavioral finance, Bayes' decision, algorithmic trading, risk control, stock market
Procedia PDF Downloads 725685 Measures for Earthquake Risk Reduction in Algeria
Authors: Farah Lazzali, Yamina Ait Meziane
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Recent earthquakes in Algeria have demonstrated the need for seismic risk reduction. In fact, the latest major earthquake that affected the Algiers-Boumerdes region in 2003 caused excessive levels of loss of life and property. Economic, social and environmental damage were also experienced. During the three days following the event, a relatively weak coordination of public authority was noted. Many localities did not receive any relief due to lack of information from concerned authorities and delay in connecting damaged roads. Following this event, Algerian government and civil society has recognized the urgent need for an appropriate and immediate seismic risk mitigation strategy. This paper describes procedures for emergency response following past earthquakes in Algeria and provides a brief review of risk mitigation activities since 1980. The paper also aims to provide measures to reduce earthquake risk through general strategy and practical implementation of the mitigation actions.Keywords: earthquake, hazard, prevention, strategy, risk reduction
Procedia PDF Downloads 5295684 The Effect of Behavioral and Risk Factors of Investment Growth on Stock Returns
Authors: Majid Lotfi Ghahroud, Seyed Jalal Tabatabaei, Ebrahim Karami, AmirArsalan Ghergherechi, Amir Ali Saeidi
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In this study, the relationship between investment growth and stock returns of companies listed in Tehran Stock Exchange and whether their relationship -behavioral or risk factors- are discussed. Generally, there are two perspectives; risk-based approach and behavioral approach. According to the risk-based approach due to increase investment, systemic risk and consequently the stock returns are reduced. But due to the second approach, an excessive optimism or pessimism leads to assuming stock price with high investment growth in the past, higher than its intrinsic value and the price of stocks with lower investment growth, less than its intrinsic value. The investigation period is eight years from 2007 to 2014. The sample consisted of all companies listed on the Tehran Stock Exchange. The method is a portfolio test, and the analysis is based on the t-student test (t-test). The results indicate that there is a negative relationship between investment growth and stock returns of companies and this negative correlation is stronger for firms with higher cash flow. Also, the negative relationship between asset growth and stock returns is due to behavioral factors.Keywords: behavioral theory, investment growth, risk-based theory, stock returns
Procedia PDF Downloads 1565683 Joint Discrete Hartley Transform-Clipping for Peak to Average Power Ratio Reduction in Orthogonal Frequency Division Multiplexing System
Authors: Selcuk Comlekci, Mohammed Aboajmaa
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Orthogonal frequency division multiplexing (OFDM) is promising technique for the modern wireless communications systems due to its robustness against multipath environment. The high peak to average power ratio (PAPR) of the transmitted signal is one of the major drawbacks of OFDM system, PAPR degrade the performance of bit error rate (BER) and effect on the linear characteristics of high power amplifier (HPA). In this paper, we proposed DHT-Clipping reduction technique to reduce the high PAPR by the combination between discrete Hartley transform (DHT) and Clipping techniques. From the simulation results, we notified that DHT-Clipping technique offers better PAPR reduction than DHT and Clipping, as well as DHT-Clipping introduce improved BER performance better than clipping.Keywords: ISI, cyclic prefix, BER, PAPR, HPA, DHT, subcarrier
Procedia PDF Downloads 4395682 Adjustment and Scale-Up Strategy of Pilot Liquid Fermentation Process of Azotobacter sp.
Authors: G. Quiroga-Cubides, A. Díaz, M. Gómez
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The genus Azotobacter has been widely used as bio-fertilizer due to its significant effects on the stimulation and promotion of plant growth in various agricultural species of commercial interest. In order to obtain significantly viable cellular concentration, a scale-up strategy for a liquid fermentation process (SmF) with two strains of A. chroococcum (named Ac1 and Ac10) was validated and adjusted at laboratory and pilot scale. A batch fermentation process under previously defined conditions was carried out on a biorreactor Infors®, model Minifors of 3.5 L, which served as a baseline for this research. For the purpose of increasing process efficiency, the effect of the reduction of stirring speed was evaluated in combination with a fed-batch-type fermentation laboratory scale. To reproduce the efficiency parameters obtained, a scale-up strategy with geometric and fluid dynamic behavior similarities was evaluated. According to the analysis of variance, this scale-up strategy did not have significant effect on cellular concentration and in laboratory and pilot fermentations (Tukey, p > 0.05). Regarding air consumption, fermentation process at pilot scale showed a reduction of 23% versus the baseline. The percentage of reduction related to energy consumption reduction under laboratory and pilot scale conditions was 96.9% compared with baseline.Keywords: Azotobacter chroococcum, scale-up, liquid fermentation, fed-batch process
Procedia PDF Downloads 4405681 The Role of Home Composting in Waste Management Cost Reduction
Authors: Nahid Hassanshahi, Ayoub Karimi-Jashni, Nasser Talebbeydokhti
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Due to the economic and environmental benefits of producing less waste, the US Environmental Protection Agency (EPA) introduces source reduction as one of the most important means to deal with the problems caused by increased landfills and pollution. Waste reduction involves all waste management methods, including source reduction, recycling, and composting, which reduce waste flow to landfills or other disposal facilities. Source reduction of waste can be studied from two perspectives: avoiding waste production, or reducing per capita waste production, and waste deviation that indicates the reduction of waste transfer to landfills. The present paper has investigated home composting as a managerial solution for reduction of waste transfer to landfills. Home composting has many benefits. The use of household waste for the production of compost will result in a much smaller amount of waste being sent to landfills, which in turn will reduce the costs of waste collection, transportation and burial. Reducing the volume of waste for disposal and using them for the production of compost and plant fertilizer might help to recycle the material in a shorter time and to use them effectively in order to preserve the environment and reduce contamination. Producing compost in a home-based manner requires very small piece of land for preparation and recycling compared with other methods. The final product of home-made compost is valuable and helps to grow crops and garden plants. It is also used for modifying the soil structure and maintaining its moisture. The food that is transferred to landfills will spoil and produce leachate after a while. It will also release methane and greenhouse gases. But, composting these materials at home is the best way to manage degradable materials, use them efficiently and reduce environmental pollution. Studies have shown that the benefits of the sale of produced compost and the reduced costs of collecting, transporting, and burying waste can well be responsive to the costs of purchasing home compost machine and the cost of related trainings. Moreover, the process of producing home compost may be profitable within 4 to 5 years and as a result, it will have a major role in reducing waste management.Keywords: compost, home compost, reducing waste, waste management
Procedia PDF Downloads 4265680 The Initiation of Privatization, Market Structure, and Free Entry with Vertically Related Markets
Authors: Hung-Yi Chen, Shih-Jye Wu
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The existing literature provides little discussion on why a public monopolist gives up its market dominant position and allows private firms entering the market. We argue that the privatization of a public monopolist under a vertically related market may induce the entry of private firms. We develop a model of a mixed oligopoly with vertically related markets to explain the change in the market from a public monopolist to a mixed oligopoly and examine issues on privatizing the downstream public enterprise both in the short run and long run in the vertically related markets. We first show that the welfare-maximizing public monopoly firm is suboptimal in the vertically related markets. This is due to the fact that the privatization will reduce the input price charged by the upstream foreign monopolist. Further, the privatization will induce the entry of private firms since input price will decrease after privatization. Third, we demonstrate that the complete privatizing the public firm becomes a possible solution if the entry cost of private firm is low. Finally, we indicate that the public firm should partially privatize if the free-entry of private firms is allowed. JEL classification: F12, F14, L32, L33Keywords: free entry, mixed oligopoly, public monopoly, the initiation of privatization, vertically related markets, mixed oligopoly
Procedia PDF Downloads 1355679 Comparison of Applicability of Time Series Forecasting Models VAR, ARCH and ARMA in Management Science: Study Based on Empirical Analysis of Time Series Techniques
Authors: Muhammad Tariq, Hammad Tahir, Fawwad Mahmood Butt
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Purpose: This study attempts to examine the best forecasting methodologies in the time series. The time series forecasting models such as VAR, ARCH and the ARMA are considered for the analysis. Methodology: The Bench Marks or the parameters such as Adjusted R square, F-stats, Durban Watson, and Direction of the roots have been critically and empirically analyzed. The empirical analysis consists of time series data of Consumer Price Index and Closing Stock Price. Findings: The results show that the VAR model performed better in comparison to other models. Both the reliability and significance of VAR model is highly appreciable. In contrary to it, the ARCH model showed very poor results for forecasting. However, the results of ARMA model appeared double standards i.e. the AR roots showed that model is stationary and that of MA roots showed that the model is invertible. Therefore, the forecasting would remain doubtful if it made on the bases of ARMA model. It has been concluded that VAR model provides best forecasting results. Practical Implications: This paper provides empirical evidences for the application of time series forecasting model. This paper therefore provides the base for the application of best time series forecasting model.Keywords: forecasting, time series, auto regression, ARCH, ARMA
Procedia PDF Downloads 348