Search results for: price homogeneity

Authors: Despina Yiakoumi, Agathe Rouaix

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Laboratory experiments were run to investigate the impact of different design characteristics of the auctions, which have been implemented to procure capacity in the UK’s reformed electricity markets. The experiment studies competition among bidders in procurement multi-unit discrete descending clock auctions under different feedback policies and pricing rules. Theory indicates that feedback policy in combination with the two common pricing rules; last-accepted bid (LAB) and first-rejected bid (FRB), could affect significantly the auction outcome. Two information feedback policies regarding the bidding prices of the participants are considered; with feedback and without feedback. With feedback, after each round participants are informed of the number of items still in the auction and without feedback, after each round participants have no information about the aggregate supply. Under LAB, winning bidders receive the amount of the highest successful bid and under the FRB the winning bidders receive the lowest unsuccessful bid. Based on the theoretical predictions of the alternative auction designs, it was decided to run three treatments. First treatment considers LAB with feedback; second treatment studies LAB without feedback; third treatment investigates FRB without feedback. Theoretical predictions of the game showed that under FRB, the alternative feedback policies are indifferent to the auction outcome. Preliminary results indicate that LAB with feedback and FRB without feedback achieve on average higher clearing prices in comparison to the LAB treatment without feedback. However, the clearing prices under LAB with feedback and FRB without feedback are on average lower compared to the theoretical predictions. Although under LAB without feedback theory predicts the clearing price will drop to the competitive equilibrium, experimental results indicate that participants could still engage in cooperative behavior and drive up the price of the auction. It is showed, both theoretically and experimentally, that the pricing rules and the feedback policy, affect the bidding competitiveness of the auction by providing opportunities to participants to engage in cooperative behavior and exercise market power. LAB without feedback seems to be less vulnerable to market power opportunities compared to the alternative auction designs. This could be an argument for the use of LAB pricing rule in combination with limited feedback in the UK capacity market in an attempt to improve affordability for consumers.

Keywords: descending clock auctions, experiments, feedback policy, market design, multi-unit auctions, pricing rules, procurement auctions

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Authors: Georgios A. Fragkiadakis, Antonia Psaroudaki, Theodora Mouratidou, Eirini Sfakianaki

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Research: The nutritional benefits of eating carob are many and important for the human organism, as it is a food rich in carbohydrates and low in fat and contains multiple nutrients, making it a "superfood". Within the framework of the project "Actions for the optimal utilization of the potential of carob in the Region of Crete" which is financed-supervised by the Region of Crete, a second-grade local self-government authority, with the collaboration of the University of Crete and of the Hellenic Mediterranean University, an online survey was carried out with the aim of evaluating dietary habits and views related to the consumption of carob and its products in a sample of local residents. Results and Conclusions: Of the 351 participants, 259 (73.8%) stated that they consume carob products, and 26.2% stated that they do not. Difficult access and limited availability of carob-food products (33.7%), high price (20.7%), and difficulties of use and preparation (15.2%) were cited as the main reasons for non-consumption. Other reasons, to a lesser extent, concern the taste, especially the sweet aftertaste of some products. Concerning the behavior and eating habits related to the consumption of carob products (n=259), 57.9% of the sample report that they buy carob products "sometimes"; 21.2% report "often"; 19.7% report "rarely", and a very small percentage of 1.2% report "constantly". With reference to the reasons for choosing carob products, the participants mention the main reason for their high nutritional value (51.7%), followed by 32.4% of nutritional claims and health claims, and the organoleptic characteristics (10.8%). Other positive factors are the final price of the product, the ease of use, and the respect for the local environment and producers. Some bakery products show the highest percentage of consumption among carob-food consumers, mainly in the form of rusks (86.1%) and breadsticks (70.3%). They are followed, in descending order, by bread (63.3%), toast (52.1%), and flour (50.6%). More specifically: 40.5% consume carob rusks less than once a month; 22% consume less than once a week; up to twice a week 12.4%; 6.6%, consume rusks 3 to 4 times a week, and daily 3.9%. It is worth mentioning that a high percentage of consumers of carob products recommend the consumption to their family and friends. Only a small percentage, in the range of 5%, does not recommend the consumption of carob products in their close family/social circle. The main motivating factors for the consumption of carob products are the expected effects they may have on health (74.1%) and the organoleptic characteristics with a percentage of 21.6%.

Keywords: food, consumer, preferences, carob, Crete, Greece

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Authors: Romain Lestage, Marc Bourreau

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In this paper we analyze the interplay between access to the last-mile network and net neutrality in the market for Internet access. We consider two Internet Service Providers (ISPs), which act as platforms between Internet users and Content Providers (CPs). One of the ISPs is vertically integrated and provides access to its last-mile network to the other (non-integrated) ISP. We show that a lower access price increases the integrated ISP's incentives to charge CPs positive termination fees (i.e., to deviate from net neutrality), and decreases the non-integrated ISP's incentives to charge positive termination fees.

Keywords: net neutrality, access regulation, internet access, two-sided markets

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Authors: Muhammad Ridho Fakhrin, Leni Sagita Riantini, Yusuf Latief

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Based on the 2015-2019 RPJMN data, the realization of toll road infrastructure development in Indonesia experienced a delay of 49% or 904 km of the total plan. One of the major causes of delays in development is caused by institutional factors. The case study taken in this research is the construction of the Trans Sumatra Toll Road (JTTS). The purpose of this research is to identify the institutional forms, functions, roles, duties, and responsibilities of each stakeholder and the risks that occur in the Trans Sumatra Toll Road Infrastructure Development. Risk analysis is implemented on functions, roles, duties, responsibilities of each existing stakeholder and is carried out at the Funding Stage, Technical Planning Stage, and Construction Implementation Stage in JTTS. This research is conducted by collecting data through a questionnaire survey, then processed using statistical methods, such as homogeneity, data adequacy, validity, and reliability test, continued with risk assessment based on a risk matrix. The results of this study are the evaluation and development of institutional functions in risk-based JTTS development can improve time performance and minimize delays in the construction process.

Keywords: institutional, risk management, time performance, toll road

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Authors: Nicolas Haber

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The study addresses the conceptual design of Product-Service Systems (PSSs) as a means of innovating solutions with the aim of reducing the environmental load of conventional product based solutions. Functional approaches targeting PSS solutions are developed in instinctive methods within the constraints of the setting in which they are conceived. Adopting morphological matrices in designing PSS concepts allows a thorough understanding of the settings, stakeholders, and functional requirements. Additionally, such a methodology is robust and adaptable to product-oriented, use-oriented and result-oriented systems. The research is based on a functional decomposition of the task in a similar way as in product design; while extended to include service components, providers, and receivers, while assessing the adaptability and homogeneity of the selected components and actors. A use-oriented concept is presented via a practical case study at an agricultural boom-sprayer manufacturer to demonstrate the effectiveness of the morphological approach to justify its viability. Additionally, a life cycle analysis is carried out in order to evaluate the environmental advantages inherited in a PSS solution versus a conventional solution. In light of the applications presented, the morphological approach appears to be a valid and generic tactic to conceiving integrated solutions whilst capturing the interrelations between the actors and elements of an integrated product-service system.

Keywords: conceptual design, design for sustainability, functional decomposition, product-service systems

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Authors: Henrique Gomes dos Santos, Manoel Henrique Alves, Jane Zoppas Ferreira, Annelise Kopp Alves

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This work aimed to seek an environmentally sustainable surface coating alternative by researching the influence of the addition of graphene oxide (GO) and carbon nanotubes (CNT) on the silanization of coatings to increase the wear resistance in galvanized steel, using the pin-on-disk test. The results obtained were compared between different concentrations of additives and the number of coating layers, in addition to comparing with samples without coating and only with silane layers. Bis-1,2-(triethoxysilyl)ethane (BTSE) silane was used in silanizing the coatings with CNT or GO and applied to the samples through dip-coating to form one, four, or eight layers. The wear test results found that three samples stood out in relation to the objective, showing an increase in wear resistance compared to the galvanized sample only. The rolling effect and the lubricity character presented by carbon nanotubes were positive for the increase in wear resistance obtained. The reduction in wear compared to the galvanized-only sample reached 82%. Raman spectroscopy was also carried out to detect the presence of silane, GO, and CNT, in addition to roughness tests and SEM to assess the homogeneity of the coating. The carbonaceous additives, graphene oxide, and carbon nanotubes in certain amounts of layers and specific concentrations fulfilled their objective against the wear imposed on the substrate.

Keywords: silane, coating, graphene oxide, carbon nanotubes, wear resistance

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Authors: Andrey V. Malyshev, Anna B. Petrova, Anatoly P. Surzhikov

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The article presents the results of the influence of diamagnetic additives on the defects level of ferrite ceramics. For this purpose, we use a previously developed method based on the mathematical analysis of experimental temperature dependences of the initial permeability. A phenomenological expression for the description of such dependence was suggested and an interpretation of its main parameters was given. It was shown, that the main criterion of the integral defects level of ferrite ceramics is the relation of two parameters correlating with elastic stress value in a material. Model samples containing a controlled number of intergranular phase inclusions served to prove the validity of the proposed method, as well as to assess its sensitivity in comparison with the traditional XRD (X-ray diffraction) analysis. The broadening data of diffraction reflexes of model samples have served for such comparison. The defects level data obtained by the proposed method are in good agreement with the X-ray data. The method showed high sensitivity. Therefore, the legitimacy of the selection relationship β/α parameters of phenomenological expression as a characteristic of the elastic state of the ferrite ceramics confirmed. In addition, the obtained data can be used in the detection of non-magnetic phases and testing the optimal sintering production technology of soft magnetic ferrites.

Keywords: cure point, initial permeability, integral defects level, homogeneity

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Authors: Aparna Viswanath

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Electricity spot prices are highly volatile under optimal generation capacity scenarios due to factors such as non-storability of electricity, peak demand at certain periods, generator outages, fuel uncertainty for renewable energy generators, huge investments and time needed for generation capacity expansion etc. As a result market participants are exposed to price and volume risk, which has led to the development of risk management practices. This paper provides an overview of risk management practices by market participants in electricity markets using financial derivatives.

Keywords: financial derivatives, forward, futures, options, risk management

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Authors: Evelyn Nwamaka Ogbeide-Osaretin, Bright Orhewere

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This study examined the role of the population in the linkage between energy consumption and economic development in Nigeria. Time series data on energy consumption, population, and economic development were used for the period 1995 to 2020. The Autoregressive Distributed Lag -Error Correction Model (ARDL-ECM) was engaged. Economic development had a negative substantial impact on energy consumption in the long run. Population growth had a positive significant effect on energy consumption. Government expenditure was also found to impact the level of energy consumption, while energy consumption is not a function of oil price in Nigeria.

Keywords: dynamic analysis, energy consumption, population, economic development, Nigeria

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Authors: Thomas Okechukwu Onah, Onyekachi Marcel Egwuagu

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Zero-surface temperature, which controlled the cooling profile, was modeled and used to investigate the effect of process parameters on the hot-rolled steel plates. The parameters include impingement gaps of 40mm to 70mm; pipe diameters of 20mm to 45mm feeding jet nozzle with 30 holes of 8mm diameters each; and flow rates within 2.896x10-⁶m³/s and 3.13x10-⁵m³/s. The developed simulation model of the Zero-Surface Temperature, upon validation, showed 99% prediction accuracy with dimensional homogeneity established. The evaluated Zero-Surface temperature of Controlled Water Jet Impingement Steel plates showed a high cooling rate of 36.31 Celsius degree/sec at an optimal cooling nozzle diameter of 20mm, impingement gap of 70mm and a flow rate of 1.77x10-⁵m³/s resulting in Reynold's number 2758.586, in the turbulent regime was obtained. It was also deduced that as the nozzle diameter was increasing, the impingement gap was reducing. This achieved a faster rate of cooling to an optimum temperature of 300oC irrespective of the starting surface cooling temperature. The results additionally showed that with a tested-plate initial temperature of 550oC, a controlled cooling temperature of about 160oC produced a film and nucleated boiling heat extraction that was particularly beneficial at the end of controlled cooling and influenced the microstructural properties of the test plates.

Keywords: temperature, mechanistic-model, plates, impingements, dimensionless-numbers

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Authors: Lucas B. Naves, Maria José Abreu

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Reprocessing single-use device has attracted interesting on the medical environment over the last decades. The reprocessing technique was sought in order to reduce the cost of purchasing the new medical device, which can achieve almost double of the price of the reprocessed product. In this manuscript, we have done a literature review, aiming the reuse of medical device that was firstly designed for single use only, but has become, more and more, effective on its reprocessing procedure. We also show the regulation, the countries which allows this procedure, the classification of these device and also the most important issue concerning the re-utilization of medical device, how to minimizing the risk of gram positive and negative bacteria, avoid cross-contamination, hepatitis B (HBV), and C (HCV) virus, and also human immunodeficiency virus (HIV).

Keywords: reusing, reprocessing, single-use medical device, HIV, hepatitis B and C

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Authors: Namasivayam Navaranjan, Eric Dimla

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The world needs more quality food, shelter and transportation to meet the demands of growing population and improving living standard of those who currently live below the poverty line. Materials are essential commodities for various applications including food and pharmaceutical packaging, building and automobile. Petroleum based plastics are widely used materials amongst others for these applications and their demand is expected to increase. Use of plastics has environment related issues because considerable amount of plastic used worldwide is disposed in landfills, where its resources are wasted, the material takes up valuable space and blights communities. Some countries have been implementing regulations and/or legislations to increase reuse, recycle, renew and remanufacture materials as well as to minimise the use of non-environmentally friendly materials such as petroleum plastics. However, issue of material waste is still a concern in the countries who have low environmental regulations. Development of materials, mostly bioplastics from renewable biomass resources has become popular in the last decade. It is widely believed that the potential for up to 90% substitution of total plastics consumption by bioplastics is technically possible. The global demand for bioplastics is estimated to be approximately six times larger than in 2010. Recently, standard polymers like polyethylene (PE), polypropylene (PP), Polyvinyl Chloride (PVC) or Polyethylene terephthalate (PET), but also high-performance polymers such as polyamides or polyesters have been totally or partially substituted by their renewable equivalents. An example is Polylactide (PLA) being used as a substitute in films and injection moulded products made of petroleum plastics, e.g. PET. The starting raw materials for bio-based materials are usually sugars or starches that are mostly derived from food resources, partially also recycled materials from food or wood processing. The risk in lower food availability by increasing price of basic grains as a result of competition with biomass-based product sectors for feedstock also needs to be considered for the future bioplastic production. Manufacturing of bioplastic materials is often still reliant upon petroleum as an energy and materials source. Life Cycle Assessment (LCA) of bioplastic products has being conducted to determine the sustainability of a production route. However, the accuracy of LCA depends on several factors and needs improvement. Low oil price and high production cost may also limit the technically possible growth of these plastics in the coming years.

Keywords: bioplastics, plastics, renewable resources, biomass

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Authors: Vanessa Kummer, Maik Meusel

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Real estate demand estimates are typically derived from transaction data. However, in regions with excess demand, transactions are driven by supply and therefore do not indicate what people are actually looking for. To estimate the demand for housing in Switzerland, search subscriptions from all important Swiss real estate platforms are used. These data do, however, suffer from missing information—for example, many users do not specify how many rooms they would like or what price they would be willing to pay. In economic analyses, it is often the case that only complete data is used. Usually, however, the proportion of complete data is rather small which leads to most information being neglected. Also, the data might have a strong distortion if it is complete. In addition, the reason that data is missing might itself also contain information, which is however ignored with that approach. An interesting issue is, therefore, if for economic analyses such as the one at hand, there is an added value by using the whole data set with the imputed missing values compared to using the usually small percentage of complete data (baseline). Also, it is interesting to see how different algorithms affect that result. The imputation of the missing data is done using unsupervised learning. Out of the numerous unsupervised learning approaches, the most common ones, such as clustering, principal component analysis, or neural networks techniques are applied. By training the model iteratively on the imputed data and, thereby, including the information of all data into the model, the distortion of the first training set—the complete data—vanishes. In a next step, the performances of the algorithms are measured. This is done by randomly creating missing values in subsets of the data, estimating those values with the relevant algorithms and several parameter combinations, and comparing the estimates to the actual data. After having found the optimal parameter set for each algorithm, the missing values are being imputed. Using the resulting data sets, the next step is to estimate the willingness to pay for real estate. This is done by fitting price distributions for real estate properties with certain characteristics, such as the region or the number of rooms. Based on these distributions, survival functions are computed to obtain the functional relationship between characteristics and selling probabilities. Comparing the survival functions shows that estimates which are based on imputed data sets do not differ significantly from each other; however, the demand estimate that is derived from the baseline data does. This indicates that the baseline data set does not include all available information and is therefore not representative for the entire sample. Also, demand estimates derived from the whole data set are much more accurate than the baseline estimation. Thus, in order to obtain optimal results, it is important to make use of all available data, even though it involves additional procedures such as data imputation.

Keywords: demand estimate, missing-data imputation, real estate, unsupervised learning

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Authors: Carolina Silva Ansélmo

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Airports are demand-generating poles that affect the flow of traffic around them. The airport access system must be fast, convenient, and adequately planned, considering its potential users. An airport with good ground access conditions can provide the user with a more satisfactory access experience. When several transport options are available, service providers must understand users' preferences and the expected quality of service. The present study focuses on airport access in a comparative scenario between bus, private vehicle, subway, taxi and urban mobility transport applications to São Paulo/Guarulhos International Airport. The objectives are (i) to identify the factors that influence the choice, (ii) to measure Willingness to Pay (WTP), and (iii) to estimate the market share for each modal. The applied method was Adaptive Choice-based Conjoint Analysis (ACBC) technique using Sawtooth Software. Conjoint analysis, rooted in Utility Theory, is a survey technique that quantifies the customer's perceived utility when choosing alternatives. Assessing user preferences provides insights into their priorities for product or service attributes. An additional advantage of conjoint analysis is its requirement for a smaller sample size compared to other methods. Furthermore, ACBC provides valuable insights into consumers' preferences, willingness to pay, and market dynamics, aiding strategic decision-making to provide a better customer experience, pricing, and market segmentation. In the present research, the ACBC questionnaire had the following variables: (i) access time to the boarding point, (ii) comfort in the vehicle, (iii) number of travelers together, (iv) price, (v) supply power, and (vi) type of vehicle. The case study questionnaire reached 213 valid responses considering the scenario of access from the São Paulo city center to São Paulo/Guarulhos International Airport. As a result, the price and the number of travelers are the most relevant attributes for the sample when choosing airport access. The market share of the selection is mainly urban mobility transport applications, followed by buses, private vehicles, taxis and subways.

Keywords: adaptive choice-based conjoint analysis, ground access to airport, market share, willingness to pay

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Authors: Khalidou Ba, Abdelkrim Chahine, Mohamed Ebn Touhami

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A strong industrial interest is focused on the development of coatings for anticorrosion protection. In this context, phosphate composite materials are expanding strongly due to their chemical characteristics and their interesting physicochemical properties. Sol-gel coatings offer high homogeneity and purity that may lead to obtain coating presenting good adhesion to metal surface. The goal behind this work is to develop efficient coatings for corrosion protection of steel to extend its life. In this context, a sol gel process allowing to obtain thin film coatings on carbon steel with high resistance to corrosion has been developed. The optimization of several experimental parameters such as the hydrolysis time, the temperature, the coating technique, the molar ratio between precursors, the number of layers and the drying mode has been realized in order to obtain a coating showing the best anti-corrosion properties. The effect of these parameters on the microstructure and anticorrosion performance of the films sol gel coating has been investigated using different characterization methods (FTIR, XRD, Raman, XPS, SEM, Profilometer, Salt Spray Test, etc.). An optimized coating presenting good adhesion and very stable anticorrosion properties in salt spray test, which consists of a corrosive attack accelerated by an artificial salt spray consisting of a solution of 5% NaCl, pH neutral, under precise conditions of temperature (35 °C) and pressure has been obtained.

Keywords: sol gel, coating, corrosion, XPS

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Authors: Temitope O. Tokosi

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Healthcare is a human right. The sensitivity of health issues has necessitated the introduction of Enterprise Content Management (ECM) at district hospitals in the Western Cape Province of South Africa. The objective is understanding clinicians’ perception of ECM at their workplace. It is a descriptive case study design of constructivist paradigm. It employed a phenomenological data analysis method using a pattern matching deductive based analytical procedure. Purposive and s4nowball sampling techniques were applied in selecting participants. Clinicians expressed concerns and frustrations using ECM such as, non-integration with other hospital systems. Inadequate access points to ECM. Incorrect labelling of notes and bar-coding causes more time wasted in finding information. System features and/or functions (such as search and edit) are not possible. Hospital management and clinicians are not constantly interacting and discussing. Information turnaround time is unacceptably lengthy. Resolving these problems would involve a positive working relationship between hospital management and clinicians. In addition, prioritising the problems faced by clinicians in relation to relevance can ensure problem-solving in order to meet clinicians’ expectations and hospitals’ objective. Clinicians’ perception should invoke attention from hospital management with regards technology use. The study’s results can be generalised across clinician groupings exposed to ECM at various district hospitals because of professional and hospital homogeneity.

Keywords: clinician, electronic content management, hospital, perception, technology

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Authors: Mohamed Benaicha, Mahdi Allam

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A new two stage electrochemical process as a safe, large area and low processing cost technique for the production of semi-conducting CuInSe2 (CIS) thin films is studied. CuIn precursors were first potentiostatically electrodeposited onto molybdenum substrates from an acidic thiocyanate electrolyte. In a second stage, the prepared metallic CuIn layers were used as substrate in the selenium electrochemical deposition system and subjected to a thermal treatment in vacuum atmosphere, to eliminate binary phase formation by reaction of the Cu2-x Se and InxSey selenides, leading to the formation of CuInSe2 thin film. Electrochemical selenization from aqueous electrolyte is introduced as an alternative to toxic and hazardous H2Se or Se vapor phase selenization used in physical techniques. In this study, the influence of film deposition parameters such as bath composition, temperature and potential on film properties was studied. The electrochemical, morphological, structural and compositional properties of electrodeposited thin films were characterized using various techniques. Results of Cyclic and Stripping-Cyclic Voltammetry (CV, SCV), Scanning Electron Microscopy (SEM) and Energy Dispersive X-Ray microanalysis (EDX) investigations revealed good reproducibility and homogeneity of the film composition. Thereby optimal technological parameters for the electrochemical production of CuIn, Se as precursors for CuInSe2 thin layers are determined.

Keywords: photovoltaic, CIGS, copper alloys, electrodeposition, thin films

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Authors: Mohamad Abdelfattah Ibrahim Elghrbawy

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This work deals to evaluate barium sulfate (BS) before and after its surface modification as reinforcing filler for rubber. Barium sulfate was surface-modified using polymethacrylic acid (PMAA), the monolayer surface coverage of barium sulfate by polymethacrylic acid molecules occurred at 5.4x10-6 mol/g adsorbed amount. This amount was sufficient to reduce the sediment volume from 2.65 to 2.55 cm3/gm. Natural rubber (NR) was compounded with different concentrations of barium sulfate. The rheological characteristics of NR mixes were measured using a Monsanto Oscillating Disk Rheometer. The compounded NR was vulcanized at 142°C, and the physico-mechanical properties were tested according to the standard methods. The rheological data show that the minimum torque decreases while the maximum torque increases as the barium sulfate content increase. The physico-mechanical properties of NR vulcanizates were improved up to 50 phr/ barium sulfate loading. On the other hand, styrene–butadiene rubber (SBR) and nitrile–butadiene rubber (NBR) rubbers compounded with 50 phr/barium sulfate had good rheological and mechanical properties. Scanning electron microscope studies show surface homogeneity of rubber samples as a result of good dispersion of surface modified barium sulfate in the rubber matrix. The NR, SBR and NBR vulcanizates keep their values of mechanical properties after subjected to thermal oxidative aging at 90°C for 7 days.

Keywords: barium sulfate, natural rubber (nr), nitrile–butadiene rubber (nbr), polymethacrylic acid (pmaa), styrene–butadiene rubber (sbr), surface modification

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Authors: Geetanjali Sharma

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There are always provincial variations which deserve more detailed treatment. Before the arrival of modern era, geography and cultural homogeneity were determining factors of human habitat and migration. Boundaries as if we see them, did not exist earlier. The connectivity of the world was also different as of now. The reinforcement of the old silk route will improve economic cooperation and connectivity between Asian, European and African countries, but obviously, it is designed to improve China’s geopolitical and geostrategic position in the world. The paper is based on the secondary sources of data. Analytical and historical approach has been used to clarify the ties between the old silk routes and new One-Belt-One-Road initiative China. The paper begins with an explanation of the historical background of the old Silk Route, its origin and development, trailed by an analysis of latest declarations by the Chinese leaders to revive it. It also discusses the impacts of this initiative on India’s economy and cultural exchange between associated regions. Lastly, the paper sums up the findings and suggestions for keeping a balance between the security and economic relationship between the countries. It concludes that the silk route is an effort in commencing a ‘grand strategy’ for global trade and cooperation with hidden objectives of China to increase the investment of China in other continents as well. The revival of silk route may prove to be a very helpful in reinforcing cooperation and raising it to a new level of economic establishments. However, China has yet to promote the much-needed political and strategic trust.

Keywords: OBOR (One-Belt-One-Road), geopolitics, economic relation, security concerns

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Authors: L. Maiza, A. Cantagrel, M. Forestier, G. Laucoin, T. Regali

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Evaluation of High Frequency Trading (HFT) impact on financial markets is very important for traders who use market analysis to detect winning transaction opportunity. Analysis of HFT data on tobacco commodity market is discussed here and interesting linear relationship has been shown between trading frequency and difference between averaged trading prices above and below considered trading frequency. This may open new perspectives on markets data understanding and could provide possible interpretation of Adam Smith invisible hand.

Keywords: financial market, high frequency trading, analysis, impacts, Adam Smith invisible hand

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Authors: F. Boudet, V. Galano, D. Gmira, L. Munoz, A. Reina

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Commodities pricing needs a specific approach as they are often linked to each other and so are expectedly doing their prices. They are called co-integrated when at least one stationary linear combination exists between them. Though widespread in economic literature, and even if many equilibrium relations and co-movements exist in the economy, this principle of co-movement is not developed in derivatives field. The present study focuses on the following problem: How can the price of a forward agreement on a commodity be simulated, when it is co-integrated with other ones? Theoretical analysis is developed from Gibson-Schwartz model and an analytical solution is given for short maturities contracts and under risk-neutral conditions. The application has been made to crude oil and heating oil energy commodities and result confirms the applicability of proposed method.

Keywords: co-integration, commodities, forward pricing, Gibson-Schwartz

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Authors: Naseer Iqbal, Mukesh Kumar, Pradeep Sharma, Satya Prakash Yadav, Punit Kaur, Sujata Sharma, T. P. Singh

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Dehydroquinase (3-dehydroquinate dehydratase, DHQD, EC 4.2.1.10) is involved in shikimate pathway and catalyzes the conversion of dehydroquinate to dehydroshikimate. Shikimate pathway is important drug target as this pathway is absent in mammals. DHQD from Acinetobacter baumannii (AbDHQD) was cloned, expressed and purified to homogeneity. The binding studies showed that compounds quinic acid and citrazinic acid bound to AbDHQD at micromolar concentrations. AbDHQD was crystallized using 30% PEG-3350, 50mM tris-HCl, and 1.0M MgSO4 at PH 8.0. Crystals of AbDHQD were stabilized by transferring them into reservoir solution to which 25% glycerol was added for data collection at 100K. The X-ray intensity data were collected to 2.0Å resolution. The crystals belong to monoclinic space group P21 with cell dimensions, a = 82.3, b = 95.3, c = 132.3Å and β = 95.7°. The structure was solved with molecular replacement method and refined to Rcryst/Rfree factors of 0.200/0.232. The structures of 12 crystallographically independent molecules in the asymmetry unit were identical with r.m.s shifts for the C atoms ranging from 0.3 Å to 0.8 Å. They formed a dodecamer with four trimers arranged in a tetrahedral manner. The classical lid adopted an open conformation although a sulfate ion was observed in the substrate binding site. As a result of which, the compounds quinic acid and citrazinic acid did not bind to AbDHQD.

Keywords: acinetobacter Bauman Nii, dehydroquinate dehydratase, dodecamer, open conformation

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Authors: A. Alshebani, Y. Swesi, S. Mrayed, F. Altaher

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This paper present some preliminary work on the preparation and physicochemical caracterization of nanocomposite MFI-alumina structures based on alumina hollow fibres. The fibers are manufactured by a wet spinning process. α-alumina particles were dispersed in a solution of polysulfone in NMP. The resulting slurry is pressed through the annular gap of a spinneret into a precipitation bath. The resulting green fibres are sintered. The mechanical strength of the alumina hollow fibres is determined by a three-point-bending test while the pore size is characterized by bubble-point testing. The bending strength is in the range of 110 MPa while the average pore size is 450 nm for an internal diameter of 1 mm and external diameter of 1.7 mm. To characterize the MFI membranes various techniques were used for physicochemical characterization of MFI–ceramic hollow fibres membranes: The nitrogen adsorption, X-ray diffractometry, scanning electron microscopy combined with X emission microanalysis. Scanning Electron Microscopy (SEM) and Energy Dispersive Microanalysis by the X-ray were used to observe the morphology of the hollow fibre membranes (thickness, infiltration into the carrier, defects, homogeneity). No surface film, has been obtained, as observed by SEM and EDX analysis and confirmed by high temperature variation of N2 and CO2 gas permeances before cation exchange. Local analysis and characterise (SEM and EDX) and overall (by ICP elemental analysis) were conducted on two samples exchanged to determine the quantity and distribution of the cation of cesium on the cross section fibre of the zeolite between the cavities.

Keywords: physicochemical characterization of MFI, ceramic hollow fibre, CO2, ion-exchange

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Authors: Jenny Radeva, Anke-Gundula Roth, Christian Goebbert, Robert Niestroj-Pahl, Lars Daehne, Axel Wolfram, Juergen WIese

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The presented investigation studies the correlation between the process parameters of Layer-by-Layer (LbL) coatings and properties of the produced hybrid membranes for water treatment. The coating of alumina ceramic support membrane with polyelectrolyte multilayers on top results in hybrid membranes with increased fouling resistant behavior, high retention (up to 90%) of salt ions and various pharmaceuticals, selectivity to various organic molecules as known from LbL coated polyether sulfone membranes and the possibility of pH response control. Chosen polyelectrolytes were added to the support using the LbL-coating process. Parameters like the type of polyelectrolyte, ionic strength, and pH were varied in order to find the most suitable process conditions and to study how they influence the properties of the final product. The applied LbL-films was investigated in respect to its homogeneity and penetration depth. The analysis of the layer buildup was performed using fluorescence labeled polyelectrolyte molecules and Confocal Laser Scanning Microscopy as well as Scanning and Transmission Electron Microscopy. Furthermore, the influence of the coating parameters on the porosity, surface potential, retention, and permeability of the developed hybrid membranes were estimated. In conclusion, a comparison was drawn between the filtration performance of the uncoated alumina ceramic membrane and modified hybrid membranes.

Keywords: water treatment, membranes, ceramic membranes, hybrid membranes, layer-by-layer modification

Procedia PDF Downloads 180

Authors: O. E. Akinyemi, P. O. Alege, O. O. Ajayi, L. A. Amaghionyediwe, A. A. Ogundipe

Abstract:

Nigeria as an oil-producing developing country in Africa is one of the many countries that had been subsidizing consumption of fossil fuel. Despite the numerous advantage of this policy ranging from increased energy access, fostering economic and industrial development, protecting the poor households from oil price shocks, political considerations, among others; they have been found to impose economic cost, wasteful, inefficient, create price distortions discourage investment in the energy sector and contribute to environmental pollution. These negative consequences coupled with the fact that the policy had not been very successful at achieving some of its stated objectives, led to a number of organisations and countries such as the Group of 7 (G7), World Bank, International Monetary Fund (IMF), International Energy Agency (IEA), Organisation for Economic Co-operation and Development (OECD), among others call for global effort towards reforming fossil fuel subsidies. This call became necessary in view of seeking ways to harmonise certain existing policies which may by design hamper current effort at tackling environmental concerns such as climate change. This is in addition to driving a green growth strategy and low carbon development in achieving sustainable development. The energy sector is identified to play a vital role. This study thus investigates the prospects of using fuel subsidy reform as a viable tool in driving an economy that de-emphasizes carbon growth in Nigeria. The method used is the Johansen and Engle-Granger two-step Co-integration procedure in order to investigate the existence or otherwise of a long-run equilibrium relationship for the period 1971 to 2011. Its theoretical framework is rooted in the Environmental Kuznet Curve (EKC) hypothesis. In developing three case scenarios (case of subsidy payment, no subsidy payment and effective subsidy), findings from the study supported evidence of a long run sustainable equilibrium model. Also, estimation results reflected that the first and the second scenario do not significantly influence the indicator of environmental quality. The implication of this is that in reforming fuel subsidy to drive environmental quality for an economy like Nigeria, strong and effective regulatory framework (measure that was interacted with fuel subsidy to yield effective subsidy) is essential.

Keywords: environmental quality, fuel subsidy, green growth, low carbon growth strategy

Procedia PDF Downloads 326

Authors: Sadam Alwadi

Abstract:

Outlier values become a problem that frequently occurs in the data observation or recording process. Thus, the need for data imputation has become an essential matter. In this work, it will make use of the methods described in the prior work to detect the outlier values based on a collection of stock market data. In order to implement the detection and find some solutions that maybe helpful for investors, real closed price data were obtained from the Amman Stock Exchange (ASE). Tukey and Maximum Overlapping Discrete Wavelet Transform (MODWT) methods will be used to impute the detect the outlier values.

Keywords: outlier values, imputation, stock market data, detecting, estimation

Procedia PDF Downloads 81

Authors: K. Fraňa, M. Müller

Abstract:

A presentation of the design of the Organic Rankine Cycle (ORC) with heat regeneration and super-heating processes is a subject of this paper. The maximum temperature level in the ORC is considered to be 110°C and the maximum pressure varies up to 2.5MPa. The selection process of the appropriate working fluids, thermal design and calculation of the cycle and its components are described. With respect to the safety, toxicity, flammability, price and thermal cycle efficiency, the working fluid selected is R134a. As a particular example, the thermal design of the condenser used for the ORC engine with a theoretical thermal power of 179 kW was introduced. The minimal heat transfer area for a completed condensation was determined to be approximately 520m2.

Keywords: organic rankine cycle, thermal efficiency, working fluids, environmental engineering

Procedia PDF Downloads 460

Authors: J. H. Lee

Abstract:

As the internet and smartphone use increases, the E-Commerce is constantly growing. Therefore, the parcel is increasing continuously every year. If the larger amount than the processing capacity of the current facilities is received, they do not process, and the delivery quality becomes low. In this paper, therefore, we analyze comparatively at the cost perspective between the case of building a new facility for the increasing parcel volumes and the case of reorganizing the current operating system. We propose the optimal discount policy per parcel by calculating the construction cost of new automated facility and manual facilities until the construction of the new automated facility, and discount price.

Keywords: system reorganization, load balancing, parcel sorting, discount policy

Procedia PDF Downloads 270

Authors: Esra Arici, Duygu Olmez, Murat Ozkan, Nurcan Topcu, Furkan Capraz, Gokhan Deniz, Arman Altinyay

Abstract:

Engineered quartz stone is a composite material comprising approximately 90 wt.% fine quartz aggregate with a variety of particle size ranges and `10 wt.% unsaturated polyester resin (UPR). In this study, the objective is to investigate the influence of particle size distribution on mechanical strength and physical properties of the engineered stone slabs. For this purpose, granular quartz with two particle size ranges of 63-200 µm and 100-300 µm were used individually and mixed with a difference in ratios of mixing. The void volume of each granular packing was measured in order to define the amount of filler; quartz powder with the size of less than 38 µm, and UPR required filling inter-particle spaces. Test slabs were prepared using vibration-compression under vacuum. The study reports that both impact strength and flexural strength of samples increased as the mix ratio of the particle size range of 63-200 µm increased. On the other hand, the values of water absorption rate, apparent density and abrasion resistance were not affected by the particle size distribution owing to vacuum compaction. It is found that increasing the mix ratio of the particle size range of 63-200 µm caused the higher porosity. This led to increasing in the amount of the binder paste needed. It is also observed that homogeneity in the slabs was improved with the particle size range of 63-200 µm.

Keywords: engineered quartz stone, fine quartz aggregate, granular packing, mechanical strength, particle size distribution, physical properties.

Procedia PDF Downloads 147

Authors: Chelali Mohammed

Abstract:

In the context of the application of the competency-based approach in the system educational Algeria, the price of physical education and sport must privilege the acquisition of learning approaches and especially the approach science, which from problem situations, research and develops him information processing and application of knowledge and know-how in new situations in the words of ‘JOHN DEWEY’ ‘learning by practice’. And to achieve these goals and make teaching more EPS motivating, consistent and concrete, it is appropriate to perform a pedagogical approach freed from the constraints and open to creativity and student-centered in the light of the competency approach adopted in the formal curriculum. This approach is not unusual, but we think it is a highly professional nature requires the competence of the teacher.

Keywords: approach competencies, physical, education, teachers

Procedia PDF Downloads 603