Search results for: option price valuation

Authors: M. Jaenen, M. de Bouw, A. Verdonck, M. Leus

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During the interwar period artificial materials were often preferred, but many Antwerp architects relied on the application of wood for most of the interior finishing works and furnishings. Archival, literature and on site research of interwar suburban townhouses and the Belgian wood and furniture industry gave a new insight to the application of wood in the interwar interior. Many interwar designers favored the decorative values in all treatments of wood because of its warmth, comfort, good-wearing, and therefore, economic qualities. For the creation of a successful modern interior the texture and surface of the wood becomes as important as the color itself. This aesthetics valuation was the result of the modernization of the wood industry. The development of veneer and plywood gave the possibility to create strong, flat, long and plain wooden surfaces which are capable of retaining their shape. Also the modernization of cutting machines resulted in high quality and diversity in texture of veneer. The flat and plain plywood surfaces were modern decorated with all kinds of veneer-sliced options. In addition, wood species from the former Belgian Colony Congo were imported. Limba (Terminalia superba), kambala (Chlorophora excelsa), mubala (Pentaclethra macrophylla) and sapelli (Entandrophragma cylindricum) were used in the interior of many Antwerp interwar suburban town houses. From the thirties onwards Belgian wood firms established modern manufactures in Congo. There the local wood was dried, cut and prepared for exportation to the harbor of Antwerp. The presence of all kinds of strong and decorative Congolese wood products supported its application in the interwar interior design. The Antwerp architects combined them in their designs for doors, floors, stairs, built-in-furniture, wall paneling and movable furniture.

Keywords: Antwerp, congo, furniture, interwar

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Authors: Alev Atak

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We study the endogeneity in the cryptocurrency market over the branching ratio of the Hawkes process and evaluate the movement of self-excitability in the financial markets. We consider a semi-parametric self-exciting point process regression model where the excitation function is assumed to be smooth and decreasing but otherwise unspecified, and the baseline intensity is assumed to be a linear function of the regressors. We apply the empirical analysis to the three largest crypto assets, i.e. Bitcoin - Ethereum - Ripple, and provide a comparison with other financial assets such as SP500, Gold, and the volatility index VIX observed from January 2015 to December 2020. The results depict variable and high levels of endogeneity in the basket of cryptocurrencies under investigation, underlining the evidence of a significant role of endogenous feedback mechanisms in the price formation process.

Keywords: hawkes process, cryptocurrency, endogeneity, reflexivity

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Authors: Muhammad Mustafizur Rahaman

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Social business is a new concept in the field of Business Economics and Capitalist Economy. It has increased the importance in economic and social development in emerging economies. Professor Muhammad Yunus is the founding father of the notion. While conventional business underscores profit maximization as a core business principle, social business calls for addressing social problems at the expense of profit. This underlying principle gives social business advantageous position over conventional businesses to serve those who live at the bottom of the pyramid. It also poses grave challenges to the social business because social business sacrifices profit at one hand and seeks financial sustainability on the other. For the sake of its financial sustainability, the social business might increase the price of its product or service which might lower its social impact, thus, makes the business self-defeating. Therefore, social business should be more innovative in every business process including production, marketing, and management. Otherwise, the business is unlikely to be driven out from the society.

Keywords: innovativeness, self-defeat, social business, social problem

Procedia PDF Downloads 619

Authors: Idha Novianti, Suci Nurhayati, Puryati, Elang Krisnadi

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Community service activities are activities of the academic community in practicing and cultivating science, knowledge, and technology to advance the general welfare and educate the nation's life as described in the Higher Education Law. Training activities on the use of GeoGebra software are an option because GeoGebra software is software that is easy to operate and complete in the presentation of graphic design. The training activity was held for 3 hours online via teams and 3 hours offline. Involving 15 junior high school mathematics teachers located around south Tangerang. As a result, all teachers were satisfied with the activity, and they had additional new knowledge and skills to teach mathematics in the topic of geometry and algebra. The existence of new knowledge made the participants increase their confidence in developing mathematical science for students at school.

Keywords: geogebra, Ms. teams, junior high school teacher, mathematics

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Authors: Elvin Karaaslan Klose

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Museums are important sites of informal, often semi-structured and self-paced learning. Challenged by digital alternatives and increased expectations from their visitors, museums have to adapt to the digital age by enriching their collection and educational content with additional options for interactivity. One such option lies in the concept of the electronic book, which can be used either on dedicated devices or downloaded by visitors before entering the exhibition area. These electronic books serve as an alternative or supplement to the classic audio guide and provide visitors with information about artifacts as well as background stories and factoids about the subjects of the exhibition. Bringing such interactive elements into the museum experience has been shown to increase information retention and enjoyment among young aged visitors and adults. This article aims to bring together both theoretical frameworks and practical examples of how interactive media in the form of electronic books can be used to enhance the experience of the museum visitor.

Keywords: electronic books, interactive media, arts education, museum education

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Authors: Reshu Yadav, Himanshu Joshi, S. K. Tripathi

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Fresh water is a scarce resource which is essential for humans and ecosystems, but its distribution is uneven. Agricultural production accounts for 70% of all surface water supplies. It is projected that against the expansion in the area equipped for irrigation by 0.6% per year, the global potential irrigation water demand would rise by 9.5% during 2021-25. This would, on one hand, have to compete against the sharply rising urban water demand. On the other, it would also have to face the fear of climate change, as temperatures rise and crop yields could drop from 10-30% in many large areas. The huge demand for irrigation combined with fresh water scarcity encourages to explore the reuse of wastewater as a resource. However, the use of such wastewater is often linked to the safety issues when used non judiciously or with poor safeguards while irrigating food crops. Paddy is one of the major crops globally and amongst the most important in South Asia and Africa. In many parts of the world, use of municipal wastewater has been promoted as a viable option in this regard. In developing and fast growing countries like India, regularly increasing wastewater generation rates may allow this option to be considered quite seriously. In view of this, a pilot field study was conducted at the Jagjeetpur Municipal Sewage treatment plant situated in the Haridwar town of Uttarakhand state, India. The objectives of the present study were to study the effect of treated wastewater on the production of various paddy varieties (Sharbati, PR-114, PB-1, Menaka, PB1121 and PB 1509) and emission of GHG gases (CO2, CH4 and N2O) as compared to the same varieties grown in the control plots irrigated with fresh water. Of late, the concept of water footprint assessment has emerged, which explains enumeration of various types of water footprints of an agricultural entity from its production to processing stages. Paddy, the most water demanding staple crop of Uttarakhand state, displayed a high green water footprint value of 2966.538 m3/ton. Most of the wastewater irrigated varieties displayed upto 6% increase in production, except Menaka and PB-1121, which showed a reduction in production (6% and 3% respectively), due to pest and insect infestation. The treated wastewater was observed to be rich in Nitrogen (55.94 mg/ml Nitrate), Phosphorus (54.24 mg/ml) and Potassium (9.78 mg/ml), thus rejuvenating the soil quality and not requiring any external nutritional supplements. Percentage increase of GHG gases on irrigation with treated municipal waste water as compared to control plots was observed as 0.4% - 8.6% (CH4), 1.1% - 9.2% (CO2), and 0.07% - 5.8% (N2O). The variety, Sharbati, displayed maximum production (5.5 ton/ha) and emerged as the most resistant variety against pests and insects. The emission values of CH4 ,CO2 and N2O were 729.31 mg/m2/d, 322.10 mg/m2/d and 400.21 mg/m2/d in water stagnant condition. This study highlighted a successful possibility of reuse of wastewater for non-potable purposes offering the potential for exploiting this resource that can replace or reduce existing use of fresh water sources in agricultural sector.

Keywords: greenhouse gases, nutrients, water footprint, wastewater irrigation

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Authors: Gizem Kayar, Ramazan Bakir, M. Ilkay Koşar, Ceren U. Gencer, Alperen Ayyildiz

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Anatomy classes are crucial for general education of medical students, whereas learning anatomy is quite challenging and requires memorization of thousands of structures. In traditional teaching methods, learning materials are still based on books, anatomy mannequins, or videos. This results in forgetting many important structures after several years. However, more interactive teaching methods like virtual reality, augmented reality, gamification, and motion sensors are becoming more popular since such methods ease the way we learn and keep the data in mind for longer terms. During our study, we designed a virtual reality based digital head anatomy platform to investigate whether a fully interactive anatomy platform is effective to learn anatomy and to understand the level of teaching and learning optimization. The Head is one of the most complicated human anatomy structures, with thousands of tiny, unique structures. This makes the head anatomy one of the most difficult parts to understand during class sessions. Therefore, we developed a fully interactive digital tool with 3D model marking, quiz structures, 2D/3D puzzle structures, and VR support so as to integrate the power of VR and gamification. The project has been developed in Unity game engine with HTC Vive Cosmos VR headset. The head anatomy 3D model has been selected with full skeletal, muscular, integumentary, head, teeth, lymph, and vein system. The biggest issue during the development was the complexity of our model and the marking of it in the 3D world system. 3D model marking requires to access to each unique structure in the counted subsystems which means hundreds of marking needs to be done. Some parts of our 3D head model were monolithic. This is why we worked on dividing such parts to subparts which is very time-consuming. In order to subdivide monolithic parts, one must use an external modeling tool. However, such tools generally come with high learning curves, and seamless division is not ensured. Second option was to integrate tiny colliders to all unique items for mouse interaction. However, outside colliders which cover inner trigger colliders cause overlapping, and these colliders repel each other. Third option is using raycasting. However, due to its own view-based nature, raycasting has some inherent problems. As the model rotate, view direction changes very frequently, and directional computations become even harder. This is why, finally, we studied on the local coordinate system. By taking the pivot point of the model into consideration (back of the nose), each sub-structure is marked with its own local coordinate with respect to the pivot. After converting the mouse position to the world position and checking its relation with the corresponding structure’s local coordinate, we were able to mark all points correctly. The advantage of this method is its applicability and accuracy for all types of monolithic anatomical structures.

Keywords: anatomy, e-learning, virtual reality, 3D model marking

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Authors: Seetanah Boopen, R. V. Sannassee

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The objective of the present study is two-fold. Firstly, to assess the impact of air access liberalization on tourism demand for Mauritius and secondly to analyses the dual impact of the interplay between air access liberalization and marketing promotion efforts on tourism demand. Using an Autoregressive Distributed Lag model, the results suggest that air access liberalization is an important ingredient, albeit to a lesser extent as compared to other classical explanatory variables, of tourism demand. The results also highlight the fact that Mauritius is perceived as a luxurious destination and tourists are deemed price sensitive. Moreover, our dynamic approach interestingly confirms the presence of repeat tourism in the island. Finally, the findings also uncover the positive impact of the interplay between air access liberalization and marketing promotion efforts on fostering tourism demand.

Keywords: air access liberalization, ARDL, SIDS, time series

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Authors: Marina Chavleishvili

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Introduction: Today, the study of monopolies, including natural monopolies, is topical. In real life, pure monopolies are natural monopolies. Natural monopolies are used widely and are regulated by the state. In particular, the prices and rates are regulated. The paper considers the problems associated with the operation of natural monopolies in Georgia, in particular, their microeconomic analysis, pricing mechanisms, and legal mechanisms of their operation. The analysis was carried out on the example of the power industry. The rates of natural monopolies in Georgia are controlled by the Georgian National Energy and Water Supply Regulation Commission. The paper analyzes the positive role and importance of the regulatory body and the issues of improving the legislative base that will support the efficient operation of the branch. Methodology: In order to highlight natural monopolies market tendencies, the domestic and international markets are studied. An analysis of monopolies is carried out based on the endogenous and exogenous factors that determine the condition of companies, as well as the strategies chosen by firms to increase the market share. According to the productivity-based competitiveness assessment scheme, the segmentation opportunities, business environment, resources, and geographical location of monopolist companies are revealed. Main Findings: As a result of the analysis, certain assessments and conclusions were made. Natural monopolies are quite a complex and versatile economic element, and it is important to specify and duly control their frame conditions. It is important to determine the pricing policy of natural monopolies. The rates should be transparent, should show the level of life in the country, and should correspond to the incomes. The analysis confirmed the significance of the role of the Antimonopoly Service in the efficient management of natural monopolies. The law should adapt to reality and should be applied only to regulate the market. The present-day differential electricity tariffs varying depending on the consumed electrical power need revision. The effects of the electricity price discrimination are important, segmentation in different seasons in particular. Consumers use more electricity in winter than in summer, which is associated with extra capacities and maintenance costs. If the price of electricity in winter is higher than in summer, the electricity consumption will decrease in winter. The consumers will start to consume the electricity more economically, what will allow reducing extra capacities. Conclusion: Thus, the practical realization of the views given in the paper will contribute to the efficient operation of natural monopolies. Consequently, their activity will be oriented not on the reduction but on the increase of increments of the consumers or producers. Overall, the optimal management of the given fields will allow for improving the well-being throughout the country. In the article, conclusions are made, and the recommendations are developed to deliver effective policies and regulations toward the natural monopolies in Georgia.

Keywords: monopolies, natural monopolies, regulation, antimonopoly service

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Authors: Nabila Louai, Fouad Khaldi, Houria Benharchache

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In this paper, the case of meeting a household’s electrical energy demand with hybrid systems has been examined. The objective is to study technological feasibility and economic viability of the electrification project by a hybrid system (PV/ wind) of a residential home located in Batna-Algeria and to reduce the emissions from traditional power by using renewable energy. An autonomous hybrid wind/photovoltaic (PV)/battery power system and a PV/Wind grid connected system, has been carried out using Hybrid Optimization Model for Electric Renewable (HOMER) simulation software. As a result, it has been found that electricity from the grid can be supplied at a lower price than electricity from renewable energy at this moment.

Keywords: batna, household, hybrid system, renewable energy, techno-economy

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Authors: Carlos Herrera Sierralta, Husain M. Muslim, Meshal T. Alsaiari, Daniel Fischer

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Preventing piping fatigue flow induced vibration in the Oil & Gas sector demands not only the constant development of engineering design methodologies based on available software packages, but also special piping support technologies for designing safe and reliable piping systems. The vast majority of piping vibration problems in the Oil & Gas industry are provoked by the process flow characteristics which are basically intrinsically related to the fluid properties, the type of service and its different operational scenarios. In general, the corrective actions recommended for flow induced vibration in piping systems can be grouped in two major areas: those which affect the excitation mechanisms typically associated to process variables, and those which affect the response mechanism of the pipework per se, and the pipework associated steel support structure. Where possible the first option is to try to solve the flow induced problem from the excitation mechanism perspective. However, in producing facilities the approach of changing process parameters might not always be convenient as it could lead to reduction of production rates or it may require the shutdown of the system in order to perform the required piping modification. That impediment might lead to a second option, which is to modify the response of the piping system to excitation generated by the type of process flow. In principle, the action of shifting the natural frequency of the system well above the frequency inherent to the process always favours the elimination, or considerably reduces, the level of vibration experienced by the piping system. Tightening up the clearances at the supports (ideally zero gap), and adding new static supports at the system, are typical ways of increasing the natural frequency of the piping system. However, only stiffening the piping system may not be sufficient to resolve the vibration problem, and in some cases, it might not be feasible to implement it at all, as the available piping layout could create limitations on adding supports due to thermal expansion/contraction requirements. In these cases, utilization of viscous damper supports could be recommended as these devices can allow relatively large quasi-static movement of piping while providing sufficient capabilities of dissipating the vibration. Therefore, when correctly selected and installed, viscous damper supports can provide a significant effect on the response of the piping system over a wide range of frequencies. Viscous dampers cannot be used to support sustained, static loads. This paper shows over a real case example, a methodology which allows to determine the selection of the viscous damper supports via a dynamic analysis model. By implementing this methodology, it was possible to resolve the piping vibration problem throughout redesigning adequately the existing static piping supports and by adding new viscous dampers supports. This was conducted on-stream at the oil crude pipeline in question without the necessity of reducing the production of the plant. Concluding that the application of the methodology of this paper can be applied to solve similar cases in a straightforward manner.

Keywords: dynamic analysis, flow induced vibration, piping supports, turbulent flow, slug flow, viscous damper

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Authors: Anja Jutraz, Tadeja Zupancic

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This article explores urban laboratory, which presents a combination of different physical and digital methods and tools for public participation in urban design. The city consists of built and unbuilt environments, which can be defined as a community of people, who live there. Communities should have the option to express opinions and decide about the future of their city, from the early stages of the design process onwards. In this paper, we presented the possibility of involving community into renewal of Banska Štiavnica in Slovakia (more exactly the old mining shaft and lake Michal Štolna) and the methods to promote the community building. As a case study we presented the eTHNo project, Education about Technical, Historical and Natural opportunities of Michal Štolna. Moreover, we discussed the possibility of using virtual digital tools for public participation in urban design, where we especially focused on Virtual Urban Laboratory, VuLab.

Keywords: community building, digital tools, public participation, urban design

Procedia PDF Downloads 572

Authors: Rong-Tsorng Wang

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In this paper, we derive a pricing formula for catastrophe equity put options (or CatEPut) with non-homogeneous loss and approximated compound distributions. We assume that the loss claims arrival process is a nonhomogeneous Poisson process (NHPP) representing the clustering occurrences of loss claims, the size of loss claims is a sequence of independent and identically distributed random variables, and the accumulated loss distribution forms a compound distribution and is approximated by a heavy-tailed distribution. A numerical example is given to calibrate parameters, and we discuss how the value of CatEPut is affected by the changes of parameters in the pricing model we provided.

Keywords: catastrophe equity put options, compound distributions, nonhomogeneous Poisson process, pricing model

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Authors: Maher Agi, Hardik Soni

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This paper presents a deterministic model for optimized control of the inventory of a perishable product subject to both physical deterioration and degradation of its freshness condition. The demand for the product depends on its current inventory level and freshness condition. Our model allows for any positive amount of end of cycle inventory. Some useful conditions that characterize the optimal solution of the model are derived and an algorithm is presented for finding the optimal values of the price, the inventory cycle, the end of cycle inventory level and the order quantity. Numerical examples are then given. Our work shows how the product freshness in conjunction with the inventory deterioration affects the inventory management decisions.

Keywords: inventory management, lot sizing, perishable products, deteriorating inventory, age-dependent demand, stock-dependent demand

Procedia PDF Downloads 234

Authors: Z. S. Yip, T. K. Tan, C. C. Geh, T. T. Ting

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The mobile phone is an indispensable device in today’s daily living. The arising new brands in the market with different specification are targeting at the different population. The most promising market would be the younger generation who are IT savvy. Therefore, it is beneficial to find out their factors of consideration in purchasing a mobile phone. A survey is carried out in Malaysia to discover the current youngster’s mobile phone buying behavior. This study has found that the most influencing factor of consideration is Price, followed by Feature, and Battery Lifespan. Gender and Income have no relationship with certain factors of consideration. It is important to discover the factors of consideration in order to provide industry insight into the current trend of smartphone in Malaysia.

Keywords: buying behavior, smart phone, mobile brand, mobile operating system, specification, battery lifespan

Procedia PDF Downloads 355

Authors: T. Parhizkar, H. Jafarian, F. Aramoun, Y. Saboohi

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Applying motorized shades have substantial effect on reducing energy consumption in building sector. Moreover, the combination of motorized shades with lighting systems and PV panels can lead to considerable reduction in the energy demand of buildings. In this paper, a model is developed to assess and find an optimum combination from shade designs, lighting control systems (dimming and on/off) and implementing PV panels in shades point of view. It is worth mentioning that annual saving for all designs is obtained during hourly simulation of lighting, solar heat flux and electricity generation with the use of PV panel. From 12 designs in general, three designs, two lighting control systems and PV panel option is implemented for a case study. The results illustrate that the optimum combination causes a saving potential of 792kW.hr per year.

Keywords: motorized shades, daylight, cooling load, shade control, hourly simulation

Procedia PDF Downloads 171

Authors: Mohammadreza Bakhtiari, Mehrdad Maghsoudi, Hamidreza Bakhtiari

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This study investigates consumer behavior in the notebook computer market by integrating social media sentiment analysis with expert evaluations. The rapid evolution of the notebook industry has intensified competition among manufacturers, necessitating a deeper understanding of consumer priorities. Social media platforms, particularly Twitter, have become valuable sources for capturing real-time user feedback. In this research, sentiment analysis was performed on Twitter data gathered in the last two years, focusing on seven major notebook brands. The PyABSA framework was utilized to extract sentiments associated with various notebook components, including performance, design, battery life, and price. Expert evaluations, conducted using fuzzy logic, were incorporated to assess the impact of these sentiments on purchase behavior. To provide actionable insights, the TOPSIS method was employed to prioritize notebook features based on a combination of consumer sentiments and expert opinions. The findings consistently highlight price, display quality, and core performance components, such as RAM and CPU, as top priorities across brands. However, lower-priority features, such as webcams and cooling fans, present opportunities for manufacturers to innovate and differentiate their products. The analysis also reveals subtle but significant brand-specific variations, offering targeted insights for marketing and product development strategies. For example, Lenovo's strong performance in display quality points to a competitive edge, while Microsoft's lower ranking in battery life indicates a potential area for R&D investment. This hybrid methodology demonstrates the value of combining big data analytics with expert evaluations, offering a comprehensive framework for understanding consumer behavior in the notebook market. The study emphasizes the importance of aligning product development and marketing strategies with evolving consumer preferences, ensuring competitiveness in a dynamic market. It also underscores the potential for innovation in seemingly less important features, providing companies with opportunities to create unique selling points. By bridging the gap between consumer expectations and product offerings, this research equips manufacturers with the tools needed to remain agile in responding to market trends and enhancing customer satisfaction.

Keywords: consumer behavior, customer preferences, laptop industry, notebook computers, social media analytics, TOPSIS

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Authors: M. S. Turan, Dimple

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Due to implementation of IFRS by several developed and developing countries, India has no option other than to converge their accounting standards with IFRS. There are over 10,000 listed companies required to implement IFRS in India. IFRS based financial information presented by a company is different from the same information provided by Indian GAAPs. In this study, we have brought out and analyzed the effect of IFRS reporting on the financial statements of selected companies. The results reveal that convergence with IFRS brought prominent positive variations in the values of quick ratio, debt/equity ratio, proprietary ratio and net profit ratio, while negative variation is brought in the values of current ratio, debt to total assets ratio, operating profit ratio, return on capital employed and return on shareholders’ equity ratios. It also presents significant changes in the values of items of balance sheet, profit and loss account and cash flow statement.

Keywords: IFRS, reporting standards, convergence process, results

Procedia PDF Downloads 334

Authors: Manel Youssef, Lotfi Belkacem

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This paper employs multivariate long memory GARCH models to simultaneously estimate mean and conditional variance spillover effects between oil prices and different financial markets. Since different financial assets are traded based on these market sector returns, it’s important for financial market participants to understand the volatility transmission mechanism over time and across these series in order to make optimal portfolio allocation decisions. We examine weekly returns from January 1, 2003 to November 30, 2012 and find evidence of significant transmission of shocks and volatilities between oil prices and some of the examined financial markets. The findings support the idea of cross-market hedging and sharing of common information by investors.

Keywords: oil prices, stock indices returns, oil volatility, contagion, DCC-multivariate (FI) GARCH

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Authors: Farnaz Alborzi, Angelika Schmitz, Rainer Stamminger

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Reducing water temperatures in the wash phase of a washing programme and increasing the overall cycle durations are the latest trends in decreasing energy consumption of washing programmes. Since the implementation of the new energy efficiency classes in 2010, manufacturers seem to apply the aforementioned washing strategy with lower temperatures combined with longer programme durations extensively to realise energy-savings needed to meet the requirements of the highest energy efficiency class possible. A semi-representative on-line survey in eleven European countries (Czech Republic, Finland, France, Germany, Hungary, Italy, Poland, Romania, Spain, Sweden and the United Kingdom) was conducted by Bonn University in 2015 to shed light on consumer opinion and behaviour regarding the effects of the lower washing temperature and longer cycle duration in laundry washing on consumers’ acceptance of the programme. The risk of the long wash cycle is that consumers might not use the energy efficient Standard programmes and will think of this option as inconvenient and therefore switch to shorter, but more energy consuming programmes. Furthermore, washing in a lower temperature may lead to the problem of cross-contamination. Washing behaviour of over 5,000 households was studied in this survey to provide support and guidance for manufacturers and policy designers. Qualified households were chosen following a predefined quota: -Involvement in laundry washing: substantial, -Distribution of gender: more than 50 % female , -Selected age groups: -20–39 years, -40–59 years, -60–74 years, -Household size: 1, 2, 3, 4 and more than 4 people. Furthermore, Eurostat data for each country were used to calculate the population distribution in the respective age class and household size as quotas for the consumer survey distribution in each country. Before starting the analyses, the validity of each dataset was controlled with the aid of control questions. After excluding the outlier data, the number of the panel diminished from 5,100 to 4,843. The primary outcome of the study is European consumers are willing to save water and energy in a laundry washing but reluctant to use long programme cycles since they don’t believe that the long cycles could be energy-saving. However, the results of our survey don’t confirm that there is a relation between frequency of using Standard cotton (Eco) or Energy-saving programmes and the duration of the programmes. It might be explained by the fact that the majority of washing programmes used by consumers do not take so long, perhaps consumers just choose some additional time reduction option when selecting those programmes and this finding might be changed if the Energy-saving programmes take longer. Therefore, it may be assumed that introducing the programme duration as a new measure on a revised energy label would strongly influence the consumer at the point of sale. Furthermore, results of the survey confirm that consumers are more willing to use lower temperature programmes in order to save energy than accepting longer programme cycles and majority of them accept deviation from the nominal temperature of the programme as long as the results are good.

Keywords: duration, energy-saving, standard programmes, washing temperature

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Authors: Olufunke Olufunmilayo Ilemobayo, Barakat. O Abdulazeez

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Profit making among poultry egg farmers has been a challenge to efficient distribution of scarce farm resources over the years, due majorly to low capital base, inefficient management, technical inefficiency, economic inefficiency, thus poultry egg production has moved into an underperformed situation, characterised by low profit margin. Though previous studies focus mainly on broiler production and efficiency of its production, however, paucity of information exist in the areas of profit efficiency in the study area. Hence, determinants of profit efficiency among poultry egg farmers in Ondo State, Nigeria were investigated. A purposive sampling technique was used to obtain primary data from poultry egg farmers in Owo and Akure local government area of Ondo State, through a well-structured questionnaire. socio-economic characteristics such as age, gender, educational level, marital status, household size, access to credit, extension contact, other variables were input and output data like flock size, cost of feeder and drinker, cost of feed, cost of labour, cost of drugs and medications, cost of energy, price of crate of table egg, price of spent layers were variables used in the study. Data were analysed using descriptive statistics, budgeting analysis, and stochastic profit function/inefficiency model. Result of the descriptive statistics shows that 52 per cent of the poultry farmers were between 31-40 years, 62 per cent were male, 90 per cent had tertiary education, 66 per cent were primarily poultry farmers, 78 per cent were original poultry farm owners and 55 per cent had more than 5 years’ work experience. Descriptive statistics on cost and returns indicated that 64 per cent of the return were from sales of egg, while the remaining 36 per cent was from sales of spent layers. The cost of feeding take the highest proportion of 69 per cent of cost of production and cost of medication the lowest (7 per cent). A positive gross margin of N5, 518,869.76, net farm income of ₦ 5, 500.446.82 and net return on investment of 0.28 indicated poultry egg production is profitable. Equipment’s cost (22.757), feeding cost (18.3437), labour cost (136.698), flock size (16.209), drug and medication cost (4.509) were factors that affecting profit efficiency, while education (-2.3143), household size (-18.4291), access to credit (-16.027), and experience (-7.277) were determinant of profit efficiency. Education, household size, access to credit and experience in poultry production were the main determinants of profit efficiency of poultry egg production in Ondo State. Other factors that affect profit efficiency were cost of feeding, cost of labour, flock size, cost of drug and medication, they positively and significantly influenced profit efficiency in Ondo State, Nigeria.

Keywords: cost and returns, economic inefficiency, profit margin, technical inefficiency

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Authors: Neha Tiwari

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Rights are prerequisite for individuals to pursue their aims and enrich themselves. Laski has said rights are, ‘conditions of social life without which no man can seek himself at his best.’ However with superior technology, rights of many individuals are at stake as well. One such sufferer is the babies born out of the practice of commercial surrogacy. Commercial surrogacy has emerged as the most viable option for the childless couples. The practice has garnered lot of debate in both academia and media. Some argue for a complete ban and some for strict rules and regulation. Most of the time the debate is regarding the rights of the surrogate, something which we cannot ignore. Equally important are the rights of the children born out of such arrangements. However, not much attention is being paid to them. Recently, a controversy emerged when a surrogate gave birth to twins. One of the babies, Gammy born with down syndrome was left behind by the couple. Gammy could die because his poor Thai surrogate mother may not be able to pay for his treatment. Even if he survives, he will never know his twin sister as her identity would never be disclosed. This is just one of many such cases where the future of such babies is being played with. If the rights of these children are not taken care of many of them will have to bear the brunt of society's ignorance and perhaps live with a scar which won't heal in their lifetime.

Keywords: babies, commercial surrogacy, rights, technology

Procedia PDF Downloads 287

Authors: M. Farhaoui, M. Derraz

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In the drinking water treatment processes, the optimization of the treatment is an issue of particular concern. In general, the process consists of many units as settling, coagulation, flocculation, sedimentation, filtration and disinfection. The optimization of the process consists of some measures to decrease the managing and monitoring expenses and improve the quality of the produced water. The objective of this study is to provide water treatment operators with methods and practices that enable to attain the most effective use of the facility and, in consequence, optimize the of the cubic meter price of the treated water. This paper proposes a review on optimization of drinking water treatment process by analyzing all of the water treatment units and gives some solutions in order to maximize the water treatment performances without compromising the water quality standards. Some solutions and methods are performed in the water treatment plant located in the middle of Morocco (Meknes).

Keywords: coagulation process, optimization, turbidity removal, water treatment

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Authors: Laetitia Dari

Abstract:

The brand constitutes a source of differentiation between competitors. It highlights specific characteristics that create value for the enterprise. Today the concept of a brand is not just about the product but can concern territories. The competition between territories, due to tourism, research, jobs, etc., leads territories to develop territorial brands to bring out their identity and specificity. Some territorial brands are based on natural resources or products characteristic of a territory. In the French wood sector, we can observe the emergence of many territorial brands. Supported by the inter-professional organization, these brands have the main objective of showcasing wood as a source of solutions at the local level in terms of construction and energy. The implementation of these collective projects raises the question of the way in which relations between companies are structured and animated. The central question of our work is to understand how the territorial brand promotes the structuring of a sector and the construction of collective relations between actors. In other words, we are interested in the conditions for the emergence of the territorial brand and the way in which it will be a means of mobilizing the actors around a common project. The objectives of the research are (1) to understand in which context a territorial brand emerges, (2) to analyze the way in which the territorial brand structures the collective relations between actors, (3) to give entry keys to the actors to successfully develop this type of project. Thus, our research is based on a qualitative methodology with semi-structured interviews conducted with the main territorial brands in France. The research will answer various academic and empirical questions. From an academic point of view, it brings elements of understanding to the construction of a collective project and to the way in which governance operates. From an empirical point of view, the interest of our work is to bring out the key success factors in the development of a territorial brand and how the brand can become an element of valuation for a territory.

Keywords: brand, marketing, strategy, territory, third party stakeholder, wood

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Authors: Saurav Bhattacharjee, Syam Nair

Abstract:

Lime stabilization is a sustainable and economically viable option to address strength deficiencies of subgrade soils. However, exposure of stabilized layers to environmental elements can lead to a reduction in post stabilization strength gain expected in these layers. The current study investigates the impact of carbonation on strength properties of lime-treated soils. Manufactured soils prepared using varying proportions of bentonite silica mixtures was used in the study. Lime treated mixtures were exposed to different atmospheric conditions created by varying the concentrations of CO₂ in the testing chamber. Impact of CO₂ diffusion was identified based on changes in carbonate content and strength (UCS) properties. Changes in soil morphology were also investigated as part of the study. Rate of carbonation was observed to vary polynomially (2nd order) with exposure time. Strength properties of the mixes were observed to decrease with exposure time.

Keywords: carbonation, soil, stabilization, morphology

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Authors: Jerome E. Abiemo, Takeshi Mizunoya

Abstract:

The Aveyime community in the Volta region of Ghana is one of the major hubs for rice production. In the past, rice farmers applied organic pesticides to control pests, and compost as a soil amendment to improve fertility and productivity. However, the introduction of chemical pesticides and fertilizers have led many farmers to convert to inorganic system of rice production, without considering the social costs (e.g. groundwater contamination and health costs) related to the use of pesticides. The study estimates and compares the private and social BCRs of organic and inorganic systems of rice production. Both stratified and simple random sampling techniques were employed to select 300 organic and inorganic rice farmers and 50 pesticide applicators. The respondents were interviewed with pre-tested questionnaires. The Contingent Valuation Method (CVM) which elucidates organic farmers` Willingness-to-Pay (WTP) was employed to estimate the cost of groundwater contamination. The Cost of Illness (COI) analysis was used to estimate the health cost of pesticide-induced poisoning of applicators. The data collated, was analyzed with the aid of Microsoft excel. The study found that high private benefit (e.g. increase in farm yield and income) was the most influential factor for the rapid adoption of pesticides among rice farmers. The study also shows that the social costs of inorganic rice production were high. As such the social BCR of inorganic farming (0.2) was low as compared to organic farming (0.7). Based on the results, it was recommended that government should impose pesticide environmental tax, review current agricultural policies to favour organic farming and promote extension education to farmers on pesticide risk, to ensure agricultural and environmental sustainability.

Keywords: benefit-cost-ratio (BCR), inorganic farming, pesticides, social cost

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Authors: Tzu-Ching Weng, Hsin-Yi Chi

Abstract:

This study examines the effect of family succession on the cost of bank loans and non-price contractual terms. We use a unique dataset from China and find that lending banks are likely to charge high-interest rates and offer tight contractual terms, such as loan maturity and collateral requirement, for family succession firms. These findings indicate that information and default risks may arise after subsequent family successions. We also find that family succession firms can reduce the cost of bank loans by hiring top-tier auditors to enhance financial reporting credibility. This finding suggests that professional and high-quality auditors can provide extremely valuable services to family succession firms.

Keywords: family succession, cost of bank loans, loan contract terms, top-tier auditor

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Authors: Joseph Ndegwa

Abstract:

Changes are required if energy systems are to foster long-term growth. The main problems are increasing access to inexpensive, dependable, and sufficient energy supply while addressing environmental implications at all levels. Policies can help to promote sustainable development by providing adequate and inexpensive energy sources to underserved regions, such as liquid and gaseous fuels for cooking and electricity for household and commercial usage. Promoting energy efficiency. Increased utilization of new renewables. Spreading and implementing additional innovative energy technologies. Markets can achieve many of these goals with the correct policies, pricing, and regulations. However, if markets do not work or fail to preserve key public benefits, tailored government policies, programs, and regulations can achieve policy goals. The main strategies for promoting sustainable energy systems are simple. However, they need a broader recognition of the difficulties we confront, as well as a firmer commitment to specific measures. Making markets operate better by minimizing pricing distortions, boosting competition, and removing obstacles to energy efficiency are among the measures. Complementing the reform of the energy industry with policies that promote sustainable energy. Increasing investments in renewable energy. Increasing the rate of technical innovation at each level of the energy innovation chain. Fostering technical leadership in underdeveloped nations by transferring technology and enhancing institutional and human capabilities. promoting more international collaboration. Governments, international organizations, multilateral financial institutions, and civil society—including local communities, business and industry, non-governmental organizations (NGOs), and consumers—all have critical enabling roles to play in the problem of sustainable energy. Partnerships based on integrated and cooperative approaches and drawing on real-world experience will be necessary. Setting the required framework conditions and ensuring that public institutions collaborate effectively and efficiently with the rest of society are common themes across all industries and geographical areas in order to achieve sustainable development. Powerful tools for sustainable development include energy. However, significant policy adjustments within the larger enabling framework will be necessary to refocus its influence in order to achieve that aim. Many of the options currently accessible will be lost or the price of their ultimate realization (where viable) will grow significantly if such changes don't take place during the next several decades and aren't started right enough. In any case, it would seriously impair the capacity of future generations to satisfy their demands.

Keywords: sustainable development, reliable, price, policy

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Authors: Mohammad Aldubyan, Fateh Belaid, Anwar Gasim

Abstract:

This paper aims at linking to link residential energy efficiency to the rebound effect concept, a well-known behavioral phenomenon in which service consumption increases when consumers notice a reduction in monetary spending on energy due to improvements in energy efficiency. It provides insights on into how and why the rebound effect happens when energy efficiency improves and whether this phenomenon is positive or negative. It also shows one technique to estimate the rebound effect on the national residential level. The paper starts with a bird’s eye view of the rebound effect and then dives in in-depth into measuring the rebound effect and evaluating its impact. Finally, the paper estimates the rebound effect in the Saudi residential sector through by linking pre-estimated price elasticities of demand to the Saudi residential building stock.

Keywords: energy efficiency, rebound effect, energy consumption, residential electricity demand

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

Abstract:

Different transportation modes have key operational advantages and disadvantages, providing a variety of different transport options to users and passengers. This paper reviews key variables for the competition between air transport and other transport modes. The aim of this paper is to review the competition between air transport and other transport modes, providing results in terms of perceived cost for the users, for destinations high competitiveness for all transport modes. The competitor analysis variables include the cost and time outputs for each transport option, highlighting the level of competitiveness on high demanded Origin-Destination corridors. The case study presents the output of a such analysis for the OD corridor in Greece that connects the Capital city (Athens) with the second largest city (Thessaloniki) and the different transport modes have been considered (air, train, road). Conventional wisdom is to present an easy to handle tool for planners, managers and decision makers towards pricing policy effectiveness and demand attractiveness, appropriate to use for other similar cases.

Keywords: competitor analysis, transport economics, transport generalized cost, quantitative modelling

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