Search results for: empirical measure
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 5512

Search results for: empirical measure

5452 On Generalized Cumulative Past Inaccuracy Measure for Marginal and Conditional Lifetimes

Authors: Amit Ghosh, Chanchal Kundu

Abstract:

Recently, the notion of past cumulative inaccuracy (CPI) measure has been proposed in the literature as a generalization of cumulative past entropy (CPE) in univariate as well as bivariate setup. In this paper, we introduce the notion of CPI of order α (alpha) and study the proposed measure for conditionally specified models of two components failed at different time instants called generalized conditional CPI (GCCPI). We provide some bounds using usual stochastic order and investigate several properties of GCCPI. The effect of monotone transformation on this proposed measure has also been examined. Furthermore, we characterize some bivariate distributions under the assumption of conditional proportional reversed hazard rate model. Moreover, the role of GCCPI in reliability modeling has also been investigated for a real-life problem.

Keywords: cumulative past inaccuracy, marginal and conditional past lifetimes, conditional proportional reversed hazard rate model, usual stochastic order

Procedia PDF Downloads 228
5451 Reliability Assessment of Various Empirical Formulas for Prediction of Scour Hole Depth (Plunge Pool) Using a Comprehensive Physical Model

Authors: Majid Galoie, Khodadad Safavi, Abdolreza Karami Nejad, Reza Roshan

Abstract:

In this study, a comprehensive scouring model has been developed in order to evaluate the accuracy of various empirical relationships which were suggested for prediction of scour hole depth in plunge pools by Martins, Mason, Chian and Veronese. For this reason, scour hole depths caused by free falling jets from a flip bucket to a plunge pool were investigated. In this study various discharges, angles, scouring times, etc. have been considered. The final results demonstrated that the all mentioned empirical formulas, except Mason formula, were reasonably agreement with the experimental data.

Keywords: scour hole depth, plunge pool, physical model, reliability assessment

Procedia PDF Downloads 511
5450 Maximizing Coverage with Mobile Crime Cameras in a Stochastic Spatiotemporal Bipartite Network

Authors: (Ted) Edward Holmberg, Mahdi Abdelguerfi, Elias Ioup

Abstract:

This research details a coverage measure for evaluating the effectiveness of observer node placements in a spatial bipartite network. This coverage measure can be used to optimize the configuration of stationary or mobile spatially oriented observer nodes, or a hybrid of the two, over time in order to fully utilize their capabilities. To demonstrate the practical application of this approach, we construct a SpatioTemporal Bipartite Network (STBN) using real-time crime center (RTCC) camera nodes and NOPD calls for service (CFS) event nodes from New Orleans, La (NOLA). We use the coverage measure to identify optimal placements for moving mobile RTCC camera vans to improve coverage of vulnerable areas based on temporal patterns.

Keywords: coverage measure, mobile node dynamics, Monte Carlo simulation, observer nodes, observable nodes, spatiotemporal bipartite knowledge graph, temporal spatial analysis

Procedia PDF Downloads 80
5449 On Modeling Data Sets by Means of a Modified Saddlepoint Approximation

Authors: Serge B. Provost, Yishan Zhang

Abstract:

A moment-based adjustment to the saddlepoint approximation is introduced in the context of density estimation. First applied to univariate distributions, this methodology is extended to the bivariate case. It then entails estimating the density function associated with each marginal distribution by means of the saddlepoint approximation and applying a bivariate adjustment to the product of the resulting density estimates. The connection to the distribution of empirical copulas will be pointed out. As well, a novel approach is proposed for estimating the support of distribution. As these results solely rely on sample moments and empirical cumulant-generating functions, they are particularly well suited for modeling massive data sets. Several illustrative applications will be presented.

Keywords: empirical cumulant-generating function, endpoints identification, saddlepoint approximation, sample moments, density estimation

Procedia PDF Downloads 142
5448 Forecasting Amman Stock Market Data Using a Hybrid Method

Authors: Ahmad Awajan, Sadam Al Wadi

Abstract:

In this study, a hybrid method based on Empirical Mode Decomposition and Holt-Winter (EMD-HW) is used to forecast Amman stock market data. First, the data are decomposed by EMD method into Intrinsic Mode Functions (IMFs) and residual components. Then, all components are forecasted by HW technique. Finally, forecasting values are aggregated together to get the forecasting value of stock market data. Empirical results showed that the EMD- HW outperform individual forecasting models. The strength of this EMD-HW lies in its ability to forecast non-stationary and non- linear time series without a need to use any transformation method. Moreover, EMD-HW has a relatively high accuracy comparing with eight existing forecasting methods based on the five forecast error measures.

Keywords: Holt-Winter method, empirical mode decomposition, forecasting, time series

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5447 Empirical Study of Partitions Similarity Measures

Authors: Abdelkrim Alfalah, Lahcen Ouarbya, John Howroyd

Abstract:

This paper investigates and compares the performance of four existing distances and similarity measures between partitions. The partition measures considered are Rand Index (RI), Adjusted Rand Index (ARI), Variation of Information (VI), and Normalised Variation of Information (NVI). This work investigates the ability of these partition measures to capture three predefined intuitions: the variation within randomly generated partitions, the sensitivity to small perturbations, and finally the independence from the dataset scale. It has been shown that the Adjusted Rand Index performed well overall, with regards to these three intuitions.

Keywords: clustering, comparing partitions, similarity measure, partition distance, partition metric, similarity between partitions, clustering comparison.

Procedia PDF Downloads 167
5446 Generalized Model Estimating Strength of Bauxite Residue-Lime Mix

Authors: Sujeet Kumar, Arun Prasad

Abstract:

The present work investigates the effect of multiple parameters on the unconfined compressive strength of the bauxite residue-lime mix. A number of unconfined compressive strength tests considering various curing time, lime content, dry density and moisture content were carried out. The results show that an empirical correlation may be successfully developed using volumetric lime content, porosity, moisture content, curing time unconfined compressive strength for the range of the bauxite residue-lime mix studied. The proposed empirical correlations efficiently predict the strength of bauxite residue-lime mix, and it can be used as a generalized empirical equation to estimate unconfined compressive strength.

Keywords: bauxite residue, curing time, porosity/volumetric lime ratio, unconfined compressive strength

Procedia PDF Downloads 211
5445 Regression Approach for Optimal Purchase of Hosts Cluster in Fixed Fund for Hadoop Big Data Platform

Authors: Haitao Yang, Jianming Lv, Fei Xu, Xintong Wang, Yilin Huang, Lanting Xia, Xuewu Zhu

Abstract:

Given a fixed fund, purchasing fewer hosts of higher capability or inversely more of lower capability is a must-be-made trade-off in practices for building a Hadoop big data platform. An exploratory study is presented for a Housing Big Data Platform project (HBDP), where typical big data computing is with SQL queries of aggregate, join, and space-time condition selections executed upon massive data from more than 10 million housing units. In HBDP, an empirical formula was introduced to predict the performance of host clusters potential for the intended typical big data computing, and it was shaped via a regression approach. With this empirical formula, it is easy to suggest an optimal cluster configuration. The investigation was based on a typical Hadoop computing ecosystem HDFS+Hive+Spark. A proper metric was raised to measure the performance of Hadoop clusters in HBDP, which was tested and compared with its predicted counterpart, on executing three kinds of typical SQL query tasks. Tests were conducted with respect to factors of CPU benchmark, memory size, virtual host division, and the number of element physical host in cluster. The research has been applied to practical cluster procurement for housing big data computing.

Keywords: Hadoop platform planning, optimal cluster scheme at fixed-fund, performance predicting formula, typical SQL query tasks

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5444 Multi-Scaled Non-Local Means Filter for Medical Images Denoising: Empirical Mode Decomposition vs. Wavelet Transform

Authors: Hana Rabbouch

Abstract:

In recent years, there has been considerable growth of denoising techniques mainly devoted to medical imaging. This important evolution is not only due to the progress of computing techniques, but also to the emergence of multi-resolution analysis (MRA) on both mathematical and algorithmic bases. In this paper, a comparative study is conducted between the two best-known MRA-based decomposition techniques: the Empirical Mode Decomposition (EMD) and the Discrete Wavelet Transform (DWT). The comparison is carried out in a framework of multi-scale denoising, where a Non-Local Means (NLM) filter is performed scale-by-scale to a sample of benchmark medical images. The results prove the effectiveness of the multiscaled denoising, especially when the NLM filtering is coupled with the EMD.

Keywords: medical imaging, non local means, denoising, multiscaled analysis, empirical mode decomposition, wavelets

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5443 Taleghan Dam Break Numerical Modeling

Authors: Hamid Goharnejad, Milad Sadeghpoor Moalem, Mahmood Zakeri Niri, Leili Sadeghi Khalegh Abadi

Abstract:

While there are many benefits to using reservoir dams, their break leads to destructive effects. From the viewpoint of International Committee of Large Dams (ICOLD), dam break means the collapse of whole or some parts of a dam; thereby the dam will be unable to hold water. Therefore, studying dam break phenomenon and prediction of its behavior and effects reduces losses and damages of the mentioned phenomenon. One of the most common types of reservoir dams is embankment dam. Overtopping in embankment dams occurs because of flood discharge system inability in release inflows to reservoir. One of the most important issues among managers and engineers to evaluate the performance of the reservoir dam rim when sliding into the storage, creating waves is large and long. In this study, the effects of floods which caused the overtopping of the dam have been investigated. It was assumed that spillway is unable to release the inflow. To determine outflow hydrograph resulting from dam break, numerical model using Flow-3D software and empirical equations was used. Results of numerical models and their comparison with empirical equations show that numerical model and empirical equations can be used to study the flood resulting from dam break.

Keywords: embankment dam break, empirical equations, Taleghan dam, Flow-3D numerical model

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5442 The Relationship between Resource Sharing and Economic Resilience: An Empirical Analysis of Firms’ Resilience from the Perspective of Resource Dependence Theory

Authors: Alfredo R. Roa-Henriquez

Abstract:

This paper is about organizational-level resilience and decision-making in the face of natural hazards. Research on resilience emerged to explain systems’ ability to absorb and recover in the midst of adversity and uncertainty from natural disasters, crises, and other disruptive events. While interest in resilience has accelerated, research multiplied, and the number of policies and implementations of resilience to natural hazards has increased over the last several years, mainly at the level of communities and regions, there has been a dearth of empirical work on resilience at the level of the firm. This paper uses empirical data and a sample selection model to test some hypotheses related to the firm’s dependence on critical resources, the sharing of resources and its economic resilience. The objective is to understand how the sharing of resources among organizations is related to economic resilience. Empirical results that are obtained from a sample of firms affected by Superstorm Sandy and Hurricane Harvey indicate that there is unobserved heterogeneity that explains the strategic behavior of firms in the post-disaster and that those firms that are more likely to resource share are also the ones that exhibit higher economic resilience. The impact of property damage on the sharing of resources and economic resilience is explored.

Keywords: economic resilience, resource sharing, critical resources, strategic management

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5441 Study on Concentration and Temperature Measurement with 760 nm Diode Laser in Combustion System Using Tunable Diode Laser Absorption Spectroscopy

Authors: Miyeon Yoo, Sewon Kim, Changyeop Lee

Abstract:

It is important to measure the internal temperature or temperature distribution precisely in combustion system to increase energy efficiency and reduce the pollutants. Especially in case of large combustion systems such as power plant boiler and reheating furnace of steel making process, it is very difficult to measure those physical properties in detail. Tunable diode laser absorption spectroscopy measurement and analysis can be attractive method to overcome the difficulty. In this paper, TDLAS methods are used to measure the oxygen concentration and temperature distribution in various experimental conditions.

Keywords: tunable diode laser absorption Spectroscopy, temperature distribution, gas concentration

Procedia PDF Downloads 361
5440 Measure-Valued Solutions to a Class of Nonlinear Parabolic Equations with Degenerate Coercivity and Singular Initial Data

Authors: Flavia Smarrazzo

Abstract:

Initial-boundary value problems for nonlinear parabolic equations having a Radon measure as initial data have been widely investigated, looking for solutions which for positive times take values in some function space. On the other hand, if the diffusivity degenerates too fast at infinity, it is well known that function-valued solutions may not exist, singularities may persist, and it looks very natural to consider solutions which, roughly speaking, for positive times describe an orbit in the space of the finite Radon measures. In this general framework, our purpose is to introduce a concept of measure-valued solution which is consistent with respect to regularizing and smoothing approximations, in order to develop an existence theory which does not depend neither on the level of degeneracy of diffusivity at infinity nor on the choice of the initial measures. In more detail, we prove existence of suitably defined measure-valued solutions to the homogeneous Dirichlet initial-boundary value problem for a class of nonlinear parabolic equations without strong coerciveness. Moreover, we also discuss some qualitative properties of the constructed solutions concerning the evolution of their singular part, including conditions (depending both on the initial data and on the strength of degeneracy) under which the constructed solutions are in fact unction-valued or not.

Keywords: degenerate parabolic equations, measure-valued solutions, Radon measures, young measures

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5439 The Use of Psychological Tests in Polish Organizations - Empirical Evidence

Authors: Milena Gojny-Zbierowska

Abstract:

In the last decades psychological tests have been gaining in popularity as a method used for evaluating personnel, and they bring consulting companies solid profits rising by up to 10% each year. The market is offering a growing range of tools for the assessment of personality. Tests are used in organizations mainly in the recruitment and selection of staff. This paper is an attempt to initially diagnose the state of the use of psychological tests in Polish companies on the basis of empirical research.

Keywords: psychological tests, personality, content analysis, NEO FFI, big five personality model

Procedia PDF Downloads 339
5438 The Use of AI to Measure Gross National Happiness

Authors: Riona Dighe

Abstract:

This research attempts to identify an alternative approach to the measurement of Gross National Happiness (GNH). It uses artificial intelligence (AI), incorporating natural language processing (NLP) and sentiment analysis to measure GNH. We use ‘off the shelf’ NLP models responsible for the sentiment analysis of a sentence as a building block for this research. We constructed an algorithm using NLP models to derive a sentiment analysis score against sentences. This was then tested against a sample of 20 respondents to derive a sentiment analysis score. The scores generated resembled human responses. By utilising the MLP classifier, decision tree, linear model, and K-nearest neighbors, we were able to obtain a test accuracy of 89.97%, 54.63%, 52.13%, and 47.9%, respectively. This gave us the confidence to use the NLP models against sentences in websites to measure the GNH of a country.

Keywords: artificial intelligence, NLP, sentiment analysis, gross national happiness

Procedia PDF Downloads 81
5437 Potentials and Influencing Factors of Dynamic Pricing in Business: Empirical Insights of European Experts

Authors: Christopher Reichstein, Ralf-Christian Härting, Martina Häußler

Abstract:

With a continuously increasing speed of information exchange on the World Wide Web, retailers in the E-Commerce sector are faced with immense possibilities regarding different online purchase processes like dynamic price settings. By use of Dynamic Pricing, retailers are able to set short time price changes in order to optimize producer surplus. The empirical research illustrates the basics of Dynamic Pricing and identifies six influencing factors of Dynamic Pricing. The results of a structural equation modeling approach show five main drivers increasing the potential of dynamic price settings in the E-Commerce. Influencing factors are the knowledge of customers’ individual willingness to pay, rising sales, the possibility of customization, the data volume and the information about competitors’ pricing strategy.

Keywords: e-commerce, empirical research, experts, dynamic pricing (DP), influencing factors, potentials

Procedia PDF Downloads 235
5436 Empirical Orthogonal Functions Analysis of Hydrophysical Characteristics in the Shira Lake in Southern Siberia

Authors: Olga S. Volodko, Lidiya A. Kompaniets, Ludmila V. Gavrilova

Abstract:

The method of empirical orthogonal functions is the method of data analysis with a complex spatial-temporal structure. This method allows us to decompose the data into a finite number of modes determined by empirically finding the eigenfunctions of data correlation matrix. The modes have different scales and can be associated with various physical processes. The empirical orthogonal function method has been widely used for the analysis of hydrophysical characteristics, for example, the analysis of sea surface temperatures in the Western North Atlantic, ocean surface currents in the North Carolina, the study of tropical wave disturbances etc. The method used in this study has been applied to the analysis of temperature and velocity measurements in saline Lake Shira (Southern Siberia, Russia). Shira is a shallow lake with the maximum depth of 25 m. The lake Shira can be considered as a closed water site because of it has one small river providing inflow and but it has no outflows. The main factor that causes the motion of fluid is variable wind flows. In summer the lake is strongly stratified by temperature and saline. Long-term measurements of the temperatures and currents were conducted at several points during summer 2014-2015. The temperature has been measured with an accuracy of 0.1 ºC. The data were analyzed using the empirical orthogonal function method in the real version. The first empirical eigenmode accounts for 70-80 % of the energy and can be interpreted as temperature distribution with a thermocline. A thermocline is a thermal layer where the temperature decreases rapidly from the mixed upper layer of the lake to much colder deep water. The higher order modes can be interpreted as oscillations induced by internal waves. The currents measurements were recorded using Acoustic Doppler Current Profilers 600 kHz and 1200 kHz. The data were analyzed using the empirical orthogonal function method in the complex version. The first empirical eigenmode accounts for about 40 % of the energy and corresponds to the Ekman spiral occurring in the case of a stationary homogeneous fluid. Other modes describe the effects associated with the stratification of fluids. The second and next empirical eigenmodes were associated with dynamical modes. These modes were obtained for a simplified model of inhomogeneous three-level fluid at a water site with a flat bottom.

Keywords: Ekman spiral, empirical orthogonal functions, data analysis, stratified fluid, thermocline

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5435 Investigating the Energy Gap and Wavelength of (AlₓGa₁₋ₓAs)ₘ/(GaAs)ₙ Superlattices in Terms of Material Thickness and Al Mole Fraction Using Empirical Tight-Binding Method

Authors: Matineh Sadat Hosseini Gheidari, Vahid Reza Yazdanpanah

Abstract:

In this paper, we used the empirical tight-binding method (ETBM) with sp3s* approximation and considering the first nearest neighbor with spin-orbit interactions in order to model superlattice structure (SLS) of (AlₓGa₁₋ₓAs)ₘ/(GaAs)ₙ grown on GaAs (100) substrate at 300K. In the next step, we investigated the behavior of the energy gap and wavelength of this superlattice in terms of different thicknesses of core materials and Al mole fractions. As a result of this survey, we found out that as the Al composition increases, the energy gap of this superlattice has an upward trend and ranges from 1.42-1.63 eV. Also, according to the wavelength range that we gained from this superlattice in different Al mole fractions and various thicknesses, we can find a suitable semiconductor for a special light-emitting diode (LED) application.

Keywords: energy gap, empirical tight-binding method, light-emitting diode, superlattice, wavelength

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5434 Optimization of the Measure of Compromise as a Version of Sorites Paradox

Authors: Aleksandar Hatzivelkos

Abstract:

The term ”compromise” is mostly used casually within the social choice theory. It is usually used as a mere result of the social choice function, and this omits its deeper meaning and ramifications. This paper is based on a mathematical model for the description of a compromise as a version of the Sorites paradox. It introduces a formal definition of d-measure of divergence from a compromise and models a notion of compromise that is often used only colloquially. Such a model for vagueness phenomenon, which lies at the core of the notion of compromise enables the introduction of new mathematical structures. In order to maximize compromise, different methods can be used. In this paper, we explore properties of a social welfare function TdM (from Total d-Measure), which is defined as a function which minimizes the total sum of d-measures of divergence over all possible linear orderings. We prove that TdM satisfy strict Pareto principle and behaves well asymptotically. Furthermore, we show that for certain domain restrictions, TdM satisfy positive responsiveness and IIIA (intense independence of irrelevant alternatives) thus being equivalent to Borda count on such domain restriction. This result gives new opportunities in social choice, especially when there is an emphasis on compromise in the decision-making process.

Keywords: borda count, compromise, measure of divergence, minimization

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5433 Development of Management System of the Experience of Defensive Modeling and Simulation by Data Mining Approach

Authors: D. Nam Kim, D. Jin Kim, Jeonghwan Jeon

Abstract:

Defense Defensive Modeling and Simulation (M&S) is a system which enables impracticable training for reducing constraints of time, space and financial resources. The necessity of defensive M&S has been increasing not only for education and training but also virtual fight. Soldiers who are using defensive M&S for education and training will obtain empirical knowledge and know-how. However, the obtained knowledge of individual soldiers have not been managed and utilized yet since the nature of military organizations: confidentiality and frequent change of members. Therefore, this study aims to develop a management system for the experience of defensive M&S based on data mining approach. Since individual empirical knowledge gained through using the defensive M&S is both quantitative and qualitative data, data mining approach is appropriate for dealing with individual empirical knowledge. This research is expected to be helpful for soldiers and military policy makers.

Keywords: data mining, defensive m&s, management system, knowledge management

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5432 Nonparametric Estimation of Risk-Neutral Densities via Empirical Esscher Transform

Authors: Manoel Pereira, Alvaro Veiga, Camila Epprecht, Renato Costa

Abstract:

This paper introduces an empirical version of the Esscher transform for risk-neutral option pricing. Traditional parametric methods require the formulation of an explicit risk-neutral model and are operational only for a few probability distributions for the returns of the underlying. In our proposal, we make only mild assumptions on the pricing kernel and there is no need for the formulation of the risk-neutral model for the returns. First, we simulate sample paths for the returns under the physical distribution. Then, based on the empirical Esscher transform, the sample is reweighted, giving rise to a risk-neutralized sample from which derivative prices can be obtained by a weighted sum of the options pay-offs in each path. We compare our proposal with some traditional parametric pricing methods in four experiments with artificial and real data.

Keywords: esscher transform, generalized autoregressive Conditional Heteroscedastic (GARCH), nonparametric option pricing

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5431 Proficient Estimation Procedure for a Rare Sensitive Attribute Using Poisson Distribution

Authors: S. Suman, G. N. Singh

Abstract:

The present manuscript addresses the estimation procedure of population parameter using Poisson probability distribution when characteristic under study possesses a rare sensitive attribute. The generalized form of unrelated randomized response model is suggested in order to acquire the truthful responses from respondents. The resultant estimators have been proposed for two situations when the information on an unrelated rare non-sensitive characteristic is known as well as unknown. The properties of the proposed estimators are derived, and the measure of confidentiality of respondent is also suggested for respondents. Empirical studies are carried out in the support of discussed theory.

Keywords: Poisson distribution, randomized response model, rare sensitive attribute, non-sensitive attribute

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5430 An Analysis of the Influence of Employee Readiness for Change on TQM Implementation

Authors: Mohamed Haffar, Khalil Al-Hyari, Mohammed Khair Abu Zaid, Ramadane Djbarni, Mohammed Hamdan

Abstract:

While employee readiness for change (ERFC) is recognised as critical for total quality management (TQM) implementation, there is a lack of systematic and empirical studies regarding the relationship between ERFC dimensions and TQM. Therefore, this study proposes to fill this gap by providing empirical evidence leading to advancement in the understanding of the influences of ERFC components on TQM implementation. The empirical data for this study was drawn from a survey of 400 middle and senior managers of Jordanian firms. The analysis of the collected data, which was conducted using Structural Equation Modeling technique, revealed that three of the ERFC components, namely personally beneficial, change self-efficacy and management support are the most supportive ERFC dimensions for TQM implementation. Therefore, this paper makes a novel contribution by providing a refined and deeper comprehension of the relationships between ERFCs and TQM implementation.

Keywords: total quality management, employee readiness for change, manufacturing organisations, Jordan

Procedia PDF Downloads 533
5429 Peer-To-Peer Lending and Macroeconomics: Searching for a Link

Authors: Asror Nigmonov Asqar Ogli, Sitora Inoyatova Amonovna

Abstract:

It has been a decade when the crowdfunding and P2P lending opportunities were created. Today, the market of these modern alternative investments is becoming increasingly complex to navigate. There are overwhelming amount of peer-to-peer lending platforms both in developed and emerging economies. This study looks into this market via the cross country empirical study. In this respect, it tests the effect of various macroeconomic factors on P2P loan lending. Based on the existing literature that largely lacks empirical investigations, it builds regression model that aims to explore the relationship between economy and P2P lending. Though the author found it extremely difficult to compare the findings with earlier studies, this paper had identified certain tendencies in the data and had certain policy implications. However, the paper could not find any significant effect of economic variables on P2P lending. The paper can be considered as a starting point in empirical investigation of P2P lending and highlights room further research based on limitations of the study.

Keywords: peer-to-peer lending, crowdfunding, marketplace lending, alternative finance, fintech

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5428 A Modelling Analysis of Monetary Policy Rule

Authors: Wael Bakhit, Salma Bakhit

Abstract:

This paper employs a quarterly time series to determine the timing of structural breaks for interest rates in USA over the last 60 years. The Chow test is used for investigating the non-stationary, where the date of the potential break is assumed to be known. Moreover, an empirical examination of the financial sector was made to check if it is positively related to deviations from an assumed interest rate as given in a standard Taylor rule. The empirical analysis is strengthened by analysing the rule from a historical perspective and a look at the effect of setting the interest rate by the central bank on financial imbalances. The empirical evidence indicates that deviation in monetary policy has a potential causal factor in the build-up of financial imbalances and the subsequent crisis where macro prudential intervention could have beneficial effect. Thus, our findings tend to support the view which states that the probable existence of central banks has been a source of global financial crisis since the past decade.

Keywords: Taylor rule, financial imbalances, central banks, econometrics

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5427 Moisture Variations in Unbound Layers in an Instrumented Pavement Section

Authors: R. Islam, Rafiqul A. Tarefder

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This study presents the moisture variations of unbound layers from April 2012 to January 2014 in the Interstate 40 (I-40) pavement section in New Mexico. Three moisture probes were installed at different layers inside the pavement which measure the continuous moisture variations of the pavement. Data show that the moisture contents of unbound layers are typically constant throughout the day and month unless there is rainfall. Moisture contents of all unbound layers change with rainfall. Change in ground water table may affect the moisture content of unbound layers which has not investigated in this study. In addition, the Level 3 predictions of moisture contents using the Pavement Mechanistic-Empirical (ME) Design software are compared and found quite reasonable. However, results presented in the current study may not be applicable for pavement in other regions.

Keywords: asphalt pavement, moisture probes, resilient modulus, climate model

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5426 Internet Addiction among Students: An Empirical Study in Pondicherry University

Authors: Mashood C., Abdul Vahid K., Ashique C. K.

Abstract:

The technology is growing beyond human expectation. Internet is one of very sophisticated product of the information technology. It has various advantages like connecting the world, simplifying the difficult tasks done in past etc. Simultaneously it has demerits also; that is lack of authenticity and internet addiction. To find out the problems of internet addiction, a study conducted among the Postgraduate students of Pondicherry University and collected 454 samples. The study strictly focused to identify the internet addiction among students, influence and interdependence of personality on internet addiction among first years and second years. To evaluate this, we used two major analysis, these are Confirmatory Factor Analysis (CFA) to predict the internet addiction with the observed data and Logistic Regression to identify the difference between first years and second years in the case of internet addiction. Before applying to the core analysis, the data applied to some preliminary tests to check the model fit. The empirical findings shows that , the students of Pondicherry University are very much addicted to the internet, But there is no such huge difference between first years and second years in case of internet addiction.

Keywords: internet addiction, students, Pondicherry University, empirical study

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5425 The Volume–Volatility Relationship Conditional to Market Efficiency

Authors: Massimiliano Frezza, Sergio Bianchi, Augusto Pianese

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The relation between stock price volatility and trading volume represents a controversial issue which has received a remarkable attention over the past decades. In fact, an extensive literature shows a positive relation between price volatility and trading volume in the financial markets, but the causal relationship which originates such association is an open question, from both a theoretical and empirical point of view. In this regard, various models, which can be considered as complementary rather than competitive, have been introduced to explain this relationship. They include the long debated Mixture of Distributions Hypothesis (MDH); the Sequential Arrival of Information Hypothesis (SAIH); the Dispersion of Beliefs Hypothesis (DBH); the Noise Trader Hypothesis (NTH). In this work, we analyze whether stock market efficiency can explain the diversity of results achieved during the years. For this purpose, we propose an alternative measure of market efficiency, based on the pointwise regularity of a stochastic process, which is the Hurst–H¨older dynamic exponent. In particular, we model the stock market by means of the multifractional Brownian motion (mBm) that displays the property of a time-changing regularity. Mostly, such models have in common the fact that they locally behave as a fractional Brownian motion, in the sense that their local regularity at time t0 (measured by the local Hurst–H¨older exponent in a neighborhood of t0 equals the exponent of a fractional Brownian motion of parameter H(t0)). Assuming that the stock price follows an mBm, we introduce and theoretically justify the Hurst–H¨older dynamical exponent as a measure of market efficiency. This allows to measure, at any time t, markets’ departures from the martingale property, i.e. from efficiency as stated by the Efficient Market Hypothesis. This approach is applied to financial markets; using data for the SP500 index from 1978 to 2017, on the one hand we find that when efficiency is not accounted for, a positive contemporaneous relationship emerges and is stable over time. Conversely, it disappears as soon as efficiency is taken into account. In particular, this association is more pronounced during time frames of high volatility and tends to disappear when market becomes fully efficient.

Keywords: volume–volatility relationship, efficient market hypothesis, martingale model, Hurst–Hölder exponent

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5424 Competing Risks Modeling Using within Node Homogeneity Classification Tree

Authors: Kazeem Adesina Dauda, Waheed Babatunde Yahya

Abstract:

To design a tree that maximizes within-node homogeneity, there is a need for a homogeneity measure that is appropriate for event history data with multiple risks. We consider the use of Deviance and Modified Cox-Snell residuals as a measure of impurity in Classification Regression Tree (CART) and compare our results with the results of Fiona (2008) in which homogeneity measures were based on Martingale Residual. Data structure approach was used to validate the performance of our proposed techniques via simulation and real life data. The results of univariate competing risk revealed that: using Deviance and Cox-Snell residuals as a response in within node homogeneity classification tree perform better than using other residuals irrespective of performance techniques. Bone marrow transplant data and double-blinded randomized clinical trial, conducted in other to compare two treatments for patients with prostate cancer were used to demonstrate the efficiency of our proposed method vis-à-vis the existing ones. Results from empirical studies of the bone marrow transplant data showed that the proposed model with Cox-Snell residual (Deviance=16.6498) performs better than both the Martingale residual (deviance=160.3592) and Deviance residual (Deviance=556.8822) in both event of interest and competing risks. Additionally, results from prostate cancer also reveal the performance of proposed model over the existing one in both causes, interestingly, Cox-Snell residual (MSE=0.01783563) outfit both the Martingale residual (MSE=0.1853148) and Deviance residual (MSE=0.8043366). Moreover, these results validate those obtained from the Monte-Carlo studies.

Keywords: within-node homogeneity, Martingale residual, modified Cox-Snell residual, classification and regression tree

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5423 Problems Arising in Visual Perception

Authors: K. A. Tharanga, K. H. H. Damayanthi

Abstract:

Perception is an epistemological concept discussed in Philosophy. Perception, in other word, vision, is one of the ways that human beings get empirical knowledge after five senses. However, we face innumerable problems when achieving knowledge from perception, and therefore the knowledge gained through perception is uncertain. what we see in the external world is not real. These are the major issues that we face when receiving knowledge through perception. Sometimes there is no physical existence of what we really see. In such cases, the perception is relative. The following frames will be taken into consideration when perception is analyzed illusions and delusions, the figure of a physical object, appearance and the reality of a physical object, time factor, and colour of a physical object.seeing and knowing become vary according to the above conceptual frames. We cannot come to a proper conclusion of what we see in the empirical world. Because the things that we see are not really there. Hence the scientific knowledge which is gained from observation is doubtful. All the factors discussed in science remain in the physical world. There is a leap from ones existence to the existence of a world outside his/her mind. Indeed, one can suppose that what he/she takes to be real is just anmassive deception. However, depending on the above facts, if someone begins to doubt about the whole world, it is unavoidable to become his/her view a scepticism or nihilism. This is a certain reality.

Keywords: empirical, perception, sceptisism, nihilism

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