Search results for: option pricing theory

Authors: Derya Güler Aydin, Bahar Araz Takay

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Two different forms of competition theories can be distinguished: Those theories that emphasize the equilibrating forces created by competition, and those emphasizing the disequilibrating forces. This difference can be attributed, among other things, to the differences regarding the functioning of the market economy; that is to say, the basic problem here is whether competition should be understood as a static state or a dynamic process. This study aims to analyze the dynamic competition theories by K. Marx and J. A. Schumpeter and neo- Schumperians all of which focus on the dynamic role played by competition through creating disequilibria, endogenous structural change and social transformation as a distinguishing characteristic of the market system. With this aim, in the first section, after examining the static, neoclassical competition theory, both Marx‟s theory, which is based on profit rate differentials, and Schumpeter‟s theory, which is based on the notion of “creative destruction”, will be discussed. In the second section, the long-term fluctuations, based on creative gales of destruction, the concept will be examined under the framework of techno-economic paradigm. It is argued that the dynamic, even disequilibrium tendencies created by the competition process should be regarded in both understanding the working of capitalism and social transformation of the system.

Keywords: competition, techno-enomic paradigm, Schumpeter, social evolution

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Authors: Jixiao Tao, Xiaoqiao He

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The present study deals with the finite element (FE) analysis of thermally-induced bistable plate using various plate elements. The quadrilateral plate elements include the 4-node conforming plate element based on the classical laminate plate theory (CLPT), the 4-node and 9-node Mindlin plate element based on the first-order shear deformation laminated plate theory (FSDT), and a displacement-based 4-node quadrilateral element (RDKQ-NL20). Using the von-Karman’s large deflection theory and the total Lagrangian (TL) approach, the nonlinear FE governing equations for plate under thermal load are derived. Convergence analysis for four elements is first conducted. These elements are then used to predict the stable shapes of thermally-induced bistable plate. Numerical test shows that the plate element based on FSDT, namely the 4-node and 9-node Mindlin, and the RDKQ-NL20 plate element can predict two stable cylindrical shapes while the 4-node conforming plate predicts a saddles shape. Comparing the simulation results with ABAQUS, the RDKQ-NL20 element shows the best accuracy among all the elements.

Keywords: Bistable, finite element method, geometrical nonlinearity, quadrilateral plate elements

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Authors: Benjamin Newman

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The picture of an adverse contest between two parties has often been used as an archetypal description of the Anglo-American adversarial criminal trial. However, in actuality, guilty pleas and plea-bargains have been dominating the procedure for over the last half-a-century. Characterised by two adverse parties, the court adjudicative system in the Anglo-American world adhere to the adversarial procedure, and while further features have been attributed and the values that are embedded within the procedure vary, it is a system that we have no adequate theory. Damaska had argued that the adversarial conflict-resolution mode of administration of justice stems from a liberal laissez-faire concept of a value neutral liberal state. Having said that, the court’s neutrality has been additionally rationalised in light of its liberal end as a safeguard from the state’s coercive force. Both conceptions of the court’s neutrality conflict in cases where the by-standing role disposes of its liberal duty in safeguarding the individual. Such is noticeable in plea bargains, where the defendant has the liberty to plead guilty, despite concerns over wrongful convictions and deprivation of liberty. It is an inner liberal tension within the notion of criminal adversarialism, between the laissez-faire mode which grants autonomy to the parties and the safeguarding liberal end of the trial. Langbein had asserted that the adversarial system is a criminal procedure for which we have no adequate theory, and it is by reference to political and moral theories that the research aims to articulate a normative account. The paper contemplates on the above liberal-tension, and by reference to Duff’s ‘calling-to-account’ theory, argues that autonomy is of inherent value to the criminal process, being considered a constitutive element in the process of being called to account. While the aspiration is that the defendant’s guilty plea should be genuine, the guilty-plea decision must be voluntary if it is to be considered a performative act of accountability. Thus, by valuing procedural autonomy as a necessary element within the criminal adjudicative process, it assimilates a liberal procedure, whilst maintaining the liberal end by holding the defendant to account.

Keywords: liberal theory, adversarial criminal procedure, criminal law theory, liberal perfectionism, political liberalism

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Authors: Yating Yang, Xue Zhang, Chengli Zhao

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In the increasingly interconnected global environment brought about by globalization, it is crucial for countries to timely grasp the development motivations in relevant research fields of other countries and seize development opportunities. Motivation, as the intrinsic driving force behind actions, is abstract in nature, making it difficult to directly measure and evaluate. Drawing on the ideas of social influence network theory, the research motivations of a country can be understood as the driving force behind the development of its science and technology sector, which is simultaneously influenced by both the country itself and other countries/regions. In response to this issue, this paper improves upon Friedkin's social influence network theory and applies it to motivation description, constructing a dynamic alliance network and hostile network centered around the United States and China, as well as a sensitivity matrix, to remotely assess the changes in national research motivations under the influence of international relations. Taking artificial intelligence as a case study, the research reveals that the motivations of most countries/regions are declining, gradually shifting from a neutral attitude to a negative one. The motivation of the United States is hardly influenced by other countries/regions and remains at a high level, while the motivation of China has been consistently increasing in recent years. By comparing the results with real data, it is found that this model can reflect, to some extent, the trends in national motivations.

Keywords: influence network theory, remote assessment, relation matrix, dynamic sensitivity matrix

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Authors: Bidzina Matsaberidze

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It is known that, in emergency situations, multi-attribute group decision-making (MAGDM) models are characterized by insufficient objective data and a lack of time to respond to the task. Evidence theory is an effective tool for describing such incomplete information in decision-making models when the expert and his knowledge are involved in the estimations of the MAGDM parameters. We consider an emergency decision-making model, where expert assessments on humanitarian aid from distribution centers (HADC) are represented in q-rung ortho-pair fuzzy numbers, and the data structure is described within the data body theory. Based on focal probability construction and experts’ evaluations, an objective function-distribution centers’ selection ranking index is constructed. Our approach for solving the constructed bicriteria partitioning problem consists of two phases. In the first phase, based on the covering’s matrix, we generate a matrix, the columns of which allow us to find all possible partitionings of the HADCs with the service centers. Some constraints are also taken into consideration while generating the matrix. In the second phase, based on the matrix and using our exact algorithm, we find the partitionings -allocations of the HADCs to the centers- which correspond to the Pareto-optimal solutions. For an illustration of the obtained results, a numerical example is given for the facility location-selection problem.

Keywords: emergency MAGDM, q-rung orthopair fuzzy sets, evidence theory, HADC, facility location problem, multi-objective combinatorial optimization problem, Pareto-optimal solutions

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Authors: Chandralal Shrestha

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In the developing countries like Nepal, the community based forest management approach has often been glorified as one of the best forest management alternatives to maximize the forest benefits. Though the approach has succeeded to construct a local level institution and conserve the forest biodiversity, how the local communities perceived about the forest benefits, the question always remains silent among the researchers and policy makers. The paper aims to explore the understanding of forest benefits from the perspective of local communities who used the forests in terms of institutional stability, equity and livelihood opportunity, and ecological stability. The paper revealed that the local communities have mixed understanding over the forest benefits. The institutional and ecological activities carried out by the local communities indicated that they have better understanding over the forest benefits. However, inequality while sharing the forest benefits, low pricing strategy and its negative consequences in valuation of forest products and limited livelihood opportunities indicated the poor understanding.

Keywords: community based forest management, forest benefits, lowland, Nepal

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Authors: Zain Alammari, Emna M. Mhedhbi, Claudio G. Grunewald

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This study aims to compare a standard F2 media to a local media called Altakamul. The new media was tested in Nannochloropsissp cultures at a lab scale. The main difference between both media is the Nitrogen source (NaNO3 in F/2 and NH4 in Altakamul). According to the preliminary results during three weeks experiments, no significant differences were found between F2 and Alatakamul media in terms of Nannochloropsis growth. We can anticipate that Altakamul media will be the cheapest media option for microalgae cultivation at a higher scale, reducing the OPEX

Keywords: microalgae, nannochloropsis, culture, nitrogen

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Authors: Yuri Katz, Kun Liu, Arunram Atmacharan

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Due to illiquidity, mispricing on Credit Markets is inevitable. This creates huge challenges to banks and investors as they seek to find new ways of risk valuation and portfolio management in a post-credit crisis world. Here, we analyze the difference in behavior of the spread-to-maturity in investment and high-yield categories of US corporate bonds between 2014 and 2023. Deviation from the theoretical dependency of this measure in the universe under study allows to identify multiple cases of mispriced credit risk. Remarkably, we observe mispriced bonds in both categories of credit ratings. This identification is supported by the application of the state-of-the-art machine learning model in more than 90% of cases. Noticeably, the ML-driven model-based forecasting of a category of bond’s credit ratings demonstrate an excellent out-of-sample accuracy (AUC = 98%). We believe that these results can augment conventional valuations of credit portfolios.

Keywords: credit risk, credit ratings, bond pricing, spread-to-maturity, machine learning

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Authors: Young Ik Suh, Tywan G. Martin

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Bundling strategy is a common marketing practice today. In the past decades, both academicians and practitioners have increasingly emphasized the strategic importance of bundling in today’s markets. The reason for increased interest in bundling strategy is that they normally believe that it can significantly increase profits on organization’s sales over time and it is convenient for the customer. However, little efforts has been made on ticket bundling and purchase considerations in hedonic and utilitarian options in sport consumer behavior context. Consumers often face choices between utilitarian and hedonic alternatives in decision making. When consumers purchase certain products, they are only interested in the functional dimensions, which are called utilitarian dimensions. On the other hand, others focus more on hedonic features such as fun, excitement, and pleasure. Thus, the current research examines how utilitarian and hedonic consumption can vary in typical ticket purchasing process. The purpose of this research is to understand the following two research themes: (1) the differential effect of discount framing on ticket bundling: utilitarian and hedonic options and (2) moderating effect of team identification on ticket bundling. In order to test the research hypotheses, an experimental study using a two-way ANOVA, 3 (team identification: low, medium, and high) X 2 (discount frame: ticket bundle sales with utilitarian product, and hedonic product), with mixed factorial design will be conducted to determine whether there is a statistical significance between purchasing intentions of two discount frames of ticket bundle sales within different team identification levels. To compare mean differences among the two different settings, we will create two conditions of ticket bundles: (1) offering a discount on a ticket ($5 off) if they would purchase it along with utilitarian product (e.g., iPhone8 case, t-shirt, cap), and (2) offering a discount on a ticket ($5 off) if they would purchase it along with hedonic product (e.g., pizza, drink, fans featured on big screen). The findings of the current ticket bundling study are expected to have many theoretical and practical contributions and implications by extending the research and literature pertaining to the relationship between team identification and sport consumer behavior. Specifically, this study can provide a reliable and valid framework to understanding the role of team identification as a moderator on behavioral intentions such as purchase intentions. From an academic perspective, the study will be the first known attempt to understand consumer reactions toward different discount frames related to ticket bundling. Even though the game ticket itself is the major commodity of sport event attendance and significantly related to teams’ revenue streams, most recent ticket pricing research has been done in terms of economic or cost-oriented pricing and not from a consumer psychological perspective. For sport practitioners, this study will also provide significant implications. The result will imply that sport marketers may need to develop two different ticketing promotions for loyal fan and non-loyal fans. Since loyal fans concern ticket price than tie-in products when they see ticket bundle sales, advertising campaign should be more focused on discounting ticket price.

Keywords: ticket bundling, hedonic, utilitarian, team identification

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Authors: Magda Silva

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This paper presents the empirical and the theoretical principles associated with the Duke in Brazil Summer Program. Using a sociocultural model and critical theory, this study abroad maximizes students’ ability to enrich language competence, intercultural skills, and critical thinking. The fourteen-year implementation of this project demonstrates the global importance of foreign language teaching as the program unfolds into real life scenarios within the cultures of distinct regions of Brazil; Cosmopolitan Rio, in the southeast, and rural Belém, northern Amazon region.

Keywords: study abroad, critical thinking, sociocultural theory, foreign language, empirical, theoretical

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Authors: Maureen Gibney

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The examination of narrative in psychology has a long tradition, starting with psychoanalytic theory and embracing over time cognitive, social, and personality psychology, among others. Narrative use has been richly detailed as well in medicine, nursing, and social service. One aspect of narrative that has ready utility in higher education and in clinical work is the exploration of suffering and its meaning. Because it is such a densely examined topic, suffering provides a window into identity, sense of purpose, and views of humanity and of the divine. Storytelling analysis permits an exploration of a host of specific manifestations of suffering such as pain and illness, moral injury, and the impact of prolonged suffering on love and relationships. This presentation will review the origins and current understandings of narrative theory in general, and will draw from psychology, medicine, ethics, nursing, and social service in exploring the topic of suffering in particular. It is suggested that the use of narrative themes such as meaning making, agency and communion, generativity, and loss and redemption allows for a finely grained analysis of common and more atypical sources of suffering, their resolution, and the acceptance of their continuation when resolution is not possible. Such analysis, used in professional work and in higher education, can enrich one’s empathy and one’s sense of both the fragility and strength of everyday life.

Keywords: meaning making, narrative theory, suffering, teaching

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Authors: Cristina Sanchez-Sanchez

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Although there seems to be a growing interest in the study of the citizen’s happiness as an alternative measure of a country’s progress to GDP, happiness as a public concern is still an ambiguous concept, hard to define. Moreover, different notions are used indiscriminately to talk about the same thing. This investigation aims to determine the conceptions of happiness, well-being and quality of life that originate from the indexes that different governments and public institutions around the world have created to study them. Through the Scoping Review method, this study identifies the recent academic research in this field (a total of 267 documents between 2006 and 2016) from some of the most popular social sciences databases around the world, Web of Science, Scopus, JSTOR, Sage, EBSCO, IBSS and Google Scholar, and in Spain, ISOC and Dialnet. These 267 documents referenced 53 different indexes and researches. The Grounded Theory method has been applied to a sample of 13 indexes in order to identify the main categories they use to determine these three concepts. The results show that these are multi-dimensional concepts and similar indicators are used indistinctly to measure happiness, well-being and quality of life.

Keywords: common good, grounded theory, happiness economics, happiness index, quality of life, scoping review, well-being

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Authors: Hanieh Sakha, Nader Nader, Haleh Farzin

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Introduction: Throughout history, pain theories have been supposed by biomedicine, especially regarding its diagnosis and treatment aspects. Therefore, the feeling of pain is not only a personal experience and is affected by social background; therefore, it involves extensive systems of signals. The challenges in emotional and sentimental dimensions of pain originate from scientific medicine (i.e., the dominant theory is also referred to as the specificity theory); however, this theory has accepted some alterations by emerging physiology. Then, Von Frey suggested the theory of cutaneous senses (i.e., Muller’s concept: the common sensation of combined four major skin receptors leading to a proper sensation) 50 years after the specificity theory. The pain pathway was composed of spinothalamic tracts and thalamus with an inhibitory effect on the cortex. Pain is referred to as a series of unique experiences with various reasons and qualities. Despite the gate control theory, the biological aspect overcomes the social aspect. Vrancken provided a more extensive definition of pain and found five approaches: Somatico-technical, dualistic body-oriented, behaviorist, phenomenological, and consciousness approaches. The Western model combined physical, emotional, and existential aspects of the human body. On the other hand, Kotarba felt confused about the basic origins of chronic pain. Freund demonstrated and argued with Durkhemian about the sociological approach to emotions. Lynch provided a piece of evidence about the correlation between cardiovascular disease and emotionally life-threatening occurrences. Helman supposed a distinction between private and public pain. Conclusion: The consideration of the emotional aspect of pain could lead to effective, emotional, and social responses to pain. On the contrary, the theory of embodiment is based on the sociological view of health and illness. Social epidemiology shows an imbalanced distribution of health, illness, and disability among various social groups. The social support and socio-cultural level can result in several types of pain. It means the status of athletes might define their pain experiences. Gender is one of the important contributing factors affecting the type of pain (i.e., females are more likely to seek health services for pain relief.) Chronic non-cancer pain (CNCP) has become a serious public health issue affecting more than 70 million people globally. CNCP is a serious public health issue which is caused by the lack of awareness about chronic pain management among the general population.

Keywords: pain, sociology, sociological, body

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Authors: Ziwei Huang

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In order to promote Inventory development in Shenzhen, the market-oriented real estate development mode has occupied a dominant position in the urban renewal activities of Shenzhen. This research is based on the theory of role relationship and urban regime, taking the Mutoulong community as the research object. Carries on the case depth analysis found that: Under the situation of absence and dislocation of the government's role, land property rights disputes and lack of communication platforms is the main reason for the problems of nail households and market failures, and the long-term delay in the progress of old city reconstruction. Through the analysis of the cause of the transformation problem and the upper planning and interest coordination mechanism, the optimization strategy of the old city transformation is finally proposed as follows: the establishment of interest coordination platform, the risk assessment of the government's intervention in the preliminary construction of the land, the adaptive construction of laws and regulations, and the re-examination of the interest relationship between the government and the market.

Keywords: Shenzhen city, Mutoulong community, urban regeneration, urban regime theory, role relationship theory

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Authors: Zaid Jamal Saeed Almahmoud

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Smart Grid is the vision of the future power system that combines advanced monitoring and communication technologies to provide energy in a smart, efficient, and user-friendly manner. This proposal considers a demand response model in the Smart Grid based on utility maximization. Given a set of consumers with conflicting preferences in terms of consumption and a utility company that aims to minimize the peak demand and match demand to supply, we study the problem of aggregating these preferences while modelling the problem as a game. We also investigate whether an equilibrium can be reached to maximize the social benefit. Based on such equilibrium, we propose a dynamic pricing heuristic that computes the equilibrium and sets the prices accordingly. The developed approach was analysed theoretically and evaluated experimentally using real appliances data. The results show that our proposed approach achieves a substantial reduction in the overall energy consumption.

Keywords: heuristics, smart grid, aggregation, mechanism design, equilibrium

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Authors: Murat Can Pehlivanoglu

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Historically, gender equality has been mainly defended in the legal arenas of constitutional law and employment law. However, social and economic progress has required corporate law to provide gender equality on corporate boards. Recently, following the trend in Europe, the State of California (United States) enacted a law requiring that every publicly traded corporation based in California should have women on its board of directors. Still, the legal, social and economic implications of this law are yet to be discovered. The contractarian view of corporate law is predominant in the U.S. jurisprudence. However, gender quota law may not be justified through contractarian theory grounds. Therefore, the conformity of gender quota law with the general principles of U.S. corporate law remains questionable, and the immunity of close corporations from the scope of gender quota legislation provides support for the discrepancy. The methodology employed in this paper in the discussion of the rule’s conformity with corporate law is doctrinal, and American case law and legal scholarship are the basis for this discussion. This paper uses the aforementioned California law as sample legislation to evaluate the gender quota laws’ conformity with the contractarian theory of corporate law. It chooses California law as the sample due to its newness and the presence of pending shareholder lawsuits against it. Also, since California is home to global companies, the effect of such law is expected to be wider. As alternative theories laid down by corporate law may already be activated to provide gender equality on boards of publicly traded corporations, enacting a specific gender quota law would not be justified by an allegedly present statutory deficiency based on contractarian theory. However, this theoretical reality would not enable shareholders to succeed in their lawsuits against such law on corporate law grounds, and investors will have limited options against its results. This will eventually harm the integrity of the marketplace. Through the analysis of the contractarian theory of corporate law and California gender quota law, the major finding of this paper is that the contractarian theory of corporate law does not permit mandating board room equality through corporate law. In conclusion, it expresses that the issue should be dealt with through separate legislation with a different remedial structure, to preserve the traditional rationale of corporate law in U.S. law.

Keywords: board of directors, gender equality, gender quota, publicly traded corporations

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Authors: Eiji Okano, Kazuyuki Inagaki

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We revisit Uribe's `Fiscal Theory of Sovereign Risk' advocating that there is a trade-off between stabilizing inflation and suppressing default. We develop a class of dynamic stochastic general equilibrium (DSGE) model with nominal rigidities and compare two de facto inflation stabilization policies, optimal monetary policy and optimal monetary and fiscal policy with the minimizing interest rate spread policy which completely suppress the default. Under the optimal monetary and fiscal policy, not only the nominal interest rate but also the tax rate work to minimize welfare costs through stabilizing inflation. Under the optimal monetary both inflation and output gap are completely stabilized although those are fluctuating under the optimal monetary policy. In addition, volatility in the default rate under the optimal monetary policy is considerably lower than one under the optimal monetary policy. Thus, there is not the SI-SD trade-off. In addition, while the minimizing interest rate spread policy makes inflation rate severely volatile, the optimal monetary and fiscal policy stabilize both the inflation and the default. A trade-off between stabilizing inflation and suppressing default is not so severe what pointed out by Uribe.

Keywords: sovereign risk, optimal monetary policy, fiscal theory of the price level, DSGE

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Authors: Hassan Youssef Mohamed

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In this paper, we show new wave equations, and by using the equations, we concluded that the strong force and the weak force are not fundamental, but they are quantum effects for electromagnetism. This result is different from the current scientific understanding about strong and weak interactions at all. So, we introduce three evidences for our theory. First, we prove the asymptotic freedom phenomenon in the strong force by using our model. Second, we derive the nuclear shell model as an approximation of our model. Third, we prove that the leptons do not participate in the strong interactions, and we prove the short ranges of weak and strong interactions. So, our model is consistent with the current understanding of physics. Finally, we introduce the electron-positron model as the basic ingredients for protons, neutrons, and all matters, so we can study all particles interactions and nuclear interaction as many-body problems of electrons and positrons. Also, we prove the violation of parity conservation in weak interaction as evidence of our theory in the weak interaction. Also, we calculate the average of the binding energy per nucleon.

Keywords: new wave equations, the strong force, the grand unification theory, hydrogen atom, weak force, the nuclear shell model, the asymptotic freedom, electron-positron model, the violation of parity conservation, the binding energy

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Authors: Yongxin Chen, Min Zhang

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As industrial enterprises are the primary source of national pollution, environmental information disclosure is a crucial way to demonstrate to stakeholders the work they have done in fulfilling their environmental responsibilities and accepting social supervision. In the era of the digital economy, many companies, actively embracing the opportunities that come with digital transformation, have begun to apply digital technology to information collection and disclosure within the enterprise. However, less is known about the relationship between digital transformation and environmental disclosure. This study investigates how enterprise digital transformation affects environmental disclosure in 643 Chinese industrial companies, according to information processing theory. What is intriguing is that the depth (size) and breadth (diversity) of environmental disclosure linearly increase with the rise in the collection, processing, and analytical capabilities in the digital transformation process. However, the volume of data will grow exponentially, leading to a marginal increase in the economic and environmental costs of utilizing, storing, and managing data. In our empirical findings, linearly increasing benefits and marginal costs create a unique inverted U-shaped relationship between the degree of digital transformation and environmental disclosure in the Chinese industrial sector. Besides, based on the upper echelons theory, we also propose that the top management team with high stability and managerial capabilities will invest more effort and expense into improving environmental disclosure quality, lowering the carbon footprint caused by digital technology, maintaining data security etc. In both these contexts, the increasing marginal cost curves would become steeper, weakening the inverted U-shaped slope between DT and ED.

Keywords: digital transformation, environmental disclosure, the top management team, information processing theory, upper echelon theory

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Authors: Ali Nour El Hajj

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Background: The perennial deficiencies of the failure models in the materials field have profoundly and significantly impacted all associated technical fields that depend on accurate failure predictions. Many preeminent and well-known scientists from an earlier era of groundbreaking discoveries attempted to solve the issue of material failure. However, a thorough understanding of material failure has been frustratingly elusive. Objective: The heart of this study is the presentation of a methodology that identifies a newly derived one-parameter criterion as the only general failure theory for noncompressible, homogeneous, and isotropic materials subjected to multiaxial states of stress and various boundary conditions, providing the solution to this longstanding problem. This theory is the counterpart and companion piece to the theory of elasticity and is in a formalism that is suitable for broad application. Methods: Utilizing advanced finite-element analysis, the maximum internal breaking stress corresponding to the maximum applied external force is identified as a unified and universal material failure criterion for determining the structural capacity of any system, regardless of its geometry or architecture. Results: A comparison between the proposed criterion and methodology against design codes reveals that current provisions may underestimate the structural capacity by 2.17 times or overestimate the capacity by 2.096 times. It also shows that existing standards may underestimate the structural capacity by 1.4 times or overestimate the capacity by 2.49 times. Conclusion: The proposed failure criterion and methodology will pave the way for a new era in designing unconventional structural systems composed of unconventional materials.

Keywords: failure criteria, strength theory, failure mechanics, materials mechanics, rock mechanics, concrete strength, finite-element analysis, mechanical engineering, aeronautical engineering, civil engineering

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Authors: Santosh Kaware, Dnyandeo Patil, Moninder Modgil, Hemant Bhoir, Debendra Behera

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The Unified Field Theory has been an area of intensive research since many decades. This paper focuses on philosophy and metaphysics of unified field theory at Planck scale - and its relationship with super string theory and Quantum Vacuum Dynamic Physics. We examined the epistemology of questions such as - (1) what is the Unified Field of universe? (2) can it actually - (a) permeate the complete universe - or (b) be localized in bound regions of the universe - or, (c) extend into the extra dimensions? - -or (d) live only in extra dimensions? (3) What should be the emergent ontological properties of Unified field? (4) How the universe is manifesting through its Quantum Vacuum energies? (5) How is the space time metric coupled to the Unified field? We present a number of ansatz - which we outline below. It is proposed that the unified field possesses consciousness as well as a memory - a recording of past history - analogous to ‘Consistent Histories’ interpretation of quantum mechanics. We proposed Planck scale geometry of Unified Field with circle like topology and having 32 energy points on its periphery which are the connected to each other by 10 dimensional meta-strings which are sources for manifestation of different fundamentals forces and particles of universe through its Quantum Vacuum energies. It is also proposed that the sub energy levels of ‘Conscious Unified Field’ are used for the process of creation, preservation and rejuvenation of the universe over a period of time by means of negentropy. These epochs can be for the complete universe, or for localized regions such as galaxies or cluster of galaxies. It is proposed that Unified field operates through geometric patterns of its Quantum Vacuum energies - manifesting as various elementary particles by giving spins to zero point energy elements. Epistemological relationship between unified field theory and super-string theories is examined. Properties of ‘consciousness’ and 'memory' cascades from universe, into macroscopic objects - and further onto the elementary particles - via a fractal pattern. Other properties of fundamental particles - such as mass, charge, spin, iso-spin also spill out of such a cascade. The manifestations of the unified field can reach into the parallel universes or the ‘multi-verse’ and essentially have an existence independent of the space-time. It is proposed that mass, length, time scales of the unified theory are less than even the Planck scale - and can be called at a level which we call that of 'Super Quantum Gravity (SQG)'.

Keywords: super string theory, Planck scale geometry, negentropy, super quantum gravity

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Authors: Wendy I. E. Wesseling

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The unemployment rate has been on the rise since the outbreak of the global financial crisis in 2008. Especially labor market entrants suffer from economic downfall. Despite the abundance of programs and agencies that help to reintegrate unemployed youth, considerable less research attention has been paid to 'fit' between these programs and its participants that ensure a durable labor market transition. According to Self-Determination Theory, need satisfaction is associated with better (mental) adjustment. As such, three hypothesis were formulated: when workers’ needs for competence (H1), relatedness (H2), and autonomy (H3) are satisfied in the workplace, they are more likely to remain employed at the same employer. To test these assumptions, a sample of approximately 800 young people enrolled in a youth unemployment policy participated in a longitudinal study. The unemployment policy was aimed at the development of generic and vocational competences, and had a maximum duration of six months. Need satisfaction during the program was measured, as well as their employment outcomes up to 12 months after completion of the policy. All hypotheses were (partly) supported. Some limitations should be noted. First, since our sample consisted primarily of highly educated white graduates, it remains to be tested whether our results generalize to other groups of unemployed youth. Moreover, we are unable to conclude whether the results are due to the intervention, participants (selection effect), or both, because of the lack of a control group.

Keywords: need satisfaction, person-job fit, self-determination theory, youth unemployment policy

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Authors: Shen Xiaoyun

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The AI-generated works must intersect with the right holder’s work, thus having a certain impact on the rights and interests of the right holder’s work. The law needs to explore and improve the regulation of the fair use of AI creations and build a compensation system to adapt to the development of the times. The development of AI technology has brought about problems such as the unclear relationship between fair use and infringement of copyright, the unclear general terms and conditions of application, and the incomplete criteria for judging at different stages. Through different theoretical methods, the legitimacy of the rational use of the system can be demonstrated. The compensation standard for fair use of copyright in AI creation can refer to the market pricing of the right holder's work, and the compensation can construct a formula for the amount of damages for AI copyright infringement, and construct the compensation standard based on the main factors affecting the market value of the work, so as to provide a reference for the construction of a compensation system for fair use of works generated by AI.

Keywords: artificial intelligence, creative acts, fair use of copyright, copyright compensation system

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Authors: Allan B. de Guzman, Rochelle Gabrielle R. Gatan, Ira Bianca Mae G. Gesmundo, Astley Justine H. Golosinda

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Background: While in prison, the elderly, like the younger prisoners, face specific problems and deprivations arising directly from their imprisonment, one of which is forced separation from family and loved ones. Despite the numerous studies that examined the impact of separation and separation anxiety on the emotions and behavior of young individuals, little is known about separation anxiety in the elderly population. Objective: This grounded theory study purports to describe the process of separation anxiety among incarcerated Filipino elderly men. Method: Individual interviews and participant observations were conducted with 25 incarcerated elderly Filipino men who are first-time prisoners, sentenced to lifetime imprisonment and were analyzed using constant comparative method. Results: Following Strauss and Corbin’s protocol, a four-part process emerged to describe the studied layer of human experience. The Tectonic Model of Separation Anxiety among incarcerated Filipino elderly men comprises of four phases: Winkling, Wilting, Weeding, and Weaving. Conclusion: This study has inductively and creatively explored the process of separation anxiety among the Filipino incarcerated elderly men. Findings of this study invite nurses and other clinicians to identify developmentally appropriate strategies and interventions for this vulnerable and neglected sector of society.

Keywords: elderly, grounded theory, separation anxiety, Filipino, incarcerated

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Authors: Aisha Iddrisu

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The proliferation of cyberviolence in the wave of increased social media consumption calls for immediate attention both at the local and global levels. With over 4.70 billion social media users worldwide and 8.8 social media users in Ghana, various forms of violence have become the order of the day in most countries and communities. Cyber violence is defined as producing, retrieving, and sharing of hurtful or dangerous online content to cause emotional, psychological, or physical harm. The urgency and severity of cyber violence have led to the enactment of laws in various countries though lots still need to be done, especially in Ghana. In Ghana, studies on cyber violence have not been extensively dealt with. Existing studies concentrate only on one form or the other form of cyber violence, thus cybercrime and cyber bullying. Also, most studies in Africa have not explored cyber violence forms using empirical theories and the few that existed were qualitatively researched, whereas others examine the effect of cyber violence rather than examining why those who involve in it behave the way they behave. It is against this backdrop that this study aims to examine various cyber violence behaviour among social media users in Ghana by applying the theory of Self-control and Social control theory. This study is important for the following reasons. The outcome of this research will help at both national and international level of policymaking by adding to the knowledge of understanding cyberviolence and why people engage in various forms of cyberviolence. It will also help expose other ways by which such behaviours are enforced thereby serving as a guide in the enactment of the rightful rules and laws to curb such behaviours. It will add to literature on consequences of new media. This study seeks to confirm or reject to the following research hypotheses. H1 Social media usage has direct significant effect of cyberviolence behaviours. H2 Ineffective parental management has direct significant positive relation to Low self-control. H3 Low self-control has direct significant positive effect on cyber violence behaviours among social, H4 Differential association has significant positive effect on cyberviolence behaviour among social media users in Ghana. H5 Definitions have a significant positive effect on cyberviolence behaviour among social media users in Ghana. H6 Imitation has a significant positive effect on cyberviolence behaviour among social media users in Ghana. H7 Differential reinforcement has a significant positive effect on cyberviolence behaviour among social media users in Ghana. H8 Differential association has a significant positive effect on definitions. H9 Differential association has a significant positive effect on imitation. H10 Differential association has a significant positive effect on differential reinforcement. H11 Differential association has significant indirect positive effects on cyberviolence through the learning process.

Keywords: cyberviolence, social media users, self-control theory, social learning theory

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Authors: Aistis ZekevicIus

Abstract:

Biopolitical theory, which was first developed by Michel Foucault, takes into consideration the administration of life by implying a style of government based on the regulation of populations as its subject. The intensification of the #BlackLivesMatter movement and popular outcries against racial discrimination in the US health system have prompted us to reconsider the relationship between biopolitics and race in the face of the COVID-19 pandemic. Based on works by Foucault, Achille Mbembe and Nicholas Mirzoeff that transcend the boundaries of poststructuralism, critical theory and postcolonial studies, the paper suggests that the global pandemic has highlighted new aspects of the interplay between biopower and race by encouraging the search for scapegoats, deepening the structural racial inequality, and thus producing necropolitical regimes of exclusion.

Keywords: biopolitics, biopower, necropolitics, pandemic, race

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Authors: Renuka Mahadevan, Sharon Chang

Abstract:

This exploratory study is based on potential cruisers’ monetary valuation of cruise attributes. Using choice experiment, monetary trade-offs between four different cruise attributes are examined with Australians as a case study. We found 50% of the sample valued variety of onboard cruise activities the least while 30% were willing to pay A$87 for cruise-organised activities per day, and the remaining 20% regarded an ocean view to be most valuable at A$125. Latent class modelling was then applied and results revealed that potential cruisers’ valuation of the attributes can be used to segment the market into adventurers, budget conscious and comfort lovers. Evidence showed that socio demographics are not as insightful as lifestyle preferences in developing cruise packages and pricing that would appeal to potential cruisers. Marketing also needs to counter the mindset of potential cruisers’ belief that cruises are often costly and that cruising can be done later in life.

Keywords: latent class modelling, choice experiment, potential cruisers, market segmentation, willingness to pay

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Authors: Dalal Tarfaoui, Salah Zkim

Abstract:

Today, environmental sustainability is everyone’s concern as it contributes in many aspects to a country's development. Morocco is also aware of the increasing threats to its natural resources. Accordingly, many projects and research have been discussed pointing mainly to water security, pollution, desertification, and land degradation, but few studies bothered to dig into the human demeanor to disclose its ecological behavior. Human behavior is accountable for environment deterioration in the first place, but we keep fighting the symptoms instead of limiting the root causes. In the conceptual framework highlighted in the present article, semi-structured interviews have been conducted using a grounded theory approach. Initially this study will serve as a pilot study and a cornerstone to approve a bigger project now in progress. Beyond the existing general ecological measures (GEM), this study has chosen the grounded theory approach to bring out firsthand insights, and probe to which extent an ecological dimension exists in Morocco as a developing country. The discourse of the ecological behavior within the Moroccan context is seen in more realist, social, and community philosophy. The study has revealed an appreciative ecological behavior that is unfortunately repressed by variables beyond people’s control, which would prevent the people’s environmental good intentions to be translated into real ecological actions.

Keywords: ecological behavior, ecological dimension, variables beyond people’s control, Morocco

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Authors: Dayron Camilo Bermudez Mendoza

Abstract:

Road transportation is a significant source of externalities, notably in terms of environmental degradation and the emission of pollutants. These emissions adversely affect public health, attributable to criteria pollutants like particulate matter (PM2.5 and PM10) and carbon monoxide (CO), and also contribute to climate change through the release of greenhouse gases, such as carbon dioxide (CO2). It is, therefore, crucial to quantify the emissions from mobile sources and develop a methodological framework for their economic valuation, aiding in the assessment of associated costs and informing policy decisions. The forthcoming congress will shed light on the externalities of transportation in Bogotá, showcasing methodologies and findings from the construction of emission inventories and their spatial analysis within the city. This research focuses on the economic valuation of emissions from mobile sources in Bogotá, employing methods like hedonic pricing and contingent valuation. Conducted within the urban confines of Bogotá, the study leverages demographic, transportation, and emission data sourced from the Mobility Survey, official emission inventories, and tailored estimates and measurements. The use of hedonic pricing and contingent valuation methodologies facilitates the estimation of the influence of transportation emissions on real estate values and gauges the willingness of Bogotá's residents to invest in reducing these emissions. The findings are anticipated to be instrumental in the formulation and execution of public policies aimed at emission reduction and air quality enhancement. In compiling the emission inventory, innovative data sources were identified to determine activity factors, including information from automotive diagnostic centers and used vehicle sales websites. The COPERT model was utilized to ascertain emission factors, requiring diverse inputs such as data from the national transit registry (RUNT), OpenStreetMap road network details, climatological data from the IDEAM portal, and Google API for speed analysis. Spatial disaggregation employed GIS tools and publicly available official spatial data. The development of the valuation methodology involved an exhaustive systematic review, utilizing platforms like the EVRI (Environmental Valuation Reference Inventory) portal and other relevant sources. The contingent valuation method was implemented via surveys in various public settings across the city, using a referendum-style approach for a sample of 400 residents. For the hedonic price valuation, an extensive database was developed, integrating data from several official sources and basing analyses on the per-square meter property values in each city block. The upcoming conference anticipates the presentation and publication of these results, embodying a multidisciplinary knowledge integration and culminating in a master's thesis.

Keywords: economic valuation, transport economics, pollutant emissions, urban transportation, sustainable mobility

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Authors: J. Tirano, H. Zea, C. Luhrs

Abstract:

Photocatalysis has established as viable option in the development of processes for the treatment of pollutants and clean energy production. This option is based on the ability of semiconductors to generate an electron flow by means of the interaction with solar radiation. Owing to its electronic structure, TiO₂ is the most frequently used semiconductors in photocatalysis, although it has a high recombination of photogenerated charges and low solar energy absorption. An alternative to reduce these limitations is the use of nanostructured morphologies which can be produced during the synthesis of TiO₂ nanotubes (TNTs). Therefore, if possible to produce vertically oriented nanostructures it will be possible to generate a greater contact area with electrolyte and better charge transfer. At present, however, the development of these innovative structures still presents an important challenge for the development of competitive photoelectrochemical devices. This research focuses on established correlations between synthesis variables and 1D nanostructure morphology which has a direct effect on the photocatalytic performance. TNTs with controlled morphology were synthesized by two-step potentiostatic anodization of titanium foil. The anodization was carried out at room temperature in an electrolyte composed of ammonium fluoride, deionized water and ethylene glycol. Consequent thermal annealing of as-prepared TNTs was conducted in the air between 450 °C-550 °C. Morphology and crystalline phase of the TNTs were carried out by SEM, EDS and XRD analysis. As results, the synthesis conditions were established to produce nanostructures with specific morphological characteristics. Anatase was the predominant phase of TNTs after thermal treatment. Nanotubes with 10 μm in length, 40 nm in pore diameter and a surface-volume ratio of 50 are important in photoelectrochemical applications based on TiO₂ due to their 1D characteristics, high surface-volume ratio, reduced radial dimensions and high oxide/electrolyte interface. Finally, this knowledge can be used to improve the photocatalytic activity of TNTs by making additional surface modifications with dopants that improve their efficiency.

Keywords: electrochemical anodization, morphology, self-organized nanotubes, TiO₂ nanotubes

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