Search results for: conflict economics
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1425

Search results for: conflict economics

375 A Macroeconomic Analysis of Defense Industry: Comparisons, Trends and Improvements in Brazil and in the World

Authors: J. Fajardo, J. Guerra, E. Gonzales

Abstract:

This paper will outline a study of Brazil's industrial base of defense (IDB), through a bibliographic research method, combined with an analysis of macroeconomic data from several available public data platforms. This paper begins with a brief study about Brazilian national industry, including analyzes of productivity, income, outcome and jobs. Next, the research presents a study on the defense industry in Brazil, presenting the main national companies that operate in the aeronautical, army and naval branches. After knowing the main points of the Brazilian defense industry, data on the productivity of the defense industry of the main countries and competing companies of the Brazilian industry were analyzed, in order to summarize big cases in Brazil with a comparative analysis. Concerned the methodology, were used bibliographic research and the exploration of historical data series, in order to analyze information, to get trends and to make comparisons along the time. The research is finished with the main trends for the development of the Brazilian defense industry, comparing the current situation with the point of view of several countries.

Keywords: economics of defence, industry, trends, market

Procedia PDF Downloads 130
374 Analysis of Economics and Value Addition of Optimized Blend with Petrodiesel of Nanocomposite Oil Methyl Esters

Authors: Chandrashekara Krishnappa, Yogish Huchaiah

Abstract:

The present work considers the importance of economic feasibility and financial viability of biodiesel production, and its use in the present context of prevailing Indian scenario. For this, costs involved in production of one litre of biodiesel from non-edible Jatropha and Pongamia oils Nano mix are considered. Biodiesel derived from the mix is blended with petrodiesel in various proportions and used in Compression Ignition (CI) Direct Injection (DI) engine. Performance and Emission characteristics were investigated. Optimization of the blends considering experimental results was carried out. To validate the experimental results and optimization, Multi-Functional Criteria Technique (MFCT) is used. Further, value additions in terms of INR due to increase in performance and reduction in emissions are investigated. Cost component of subsidy on petrodiesel is taken into consideration in the calculation of cost of one litre of it. Comparison of costs is with respect to the unit of power generated per litre of COME and petrodiesel. By the analysis it has been concluded that the amount saved with subsidy is INR 1.45 Lakh Crores per year and it is INR1.60 Lakh Crores per year without subsidy for petrodiesel.

Keywords: cap value addition, economic analysis, MFCT, NACOME, subsidy

Procedia PDF Downloads 223
373 The Conflict of Grammaticality and Meaningfulness of the Corrupt Words: A Cross-lingual Sociolinguistic Study

Authors: Jayashree Aanand, Gajjam

Abstract:

The grammatical tradition in Sanskrit literature emphasizes the importance of the correct use of Sanskrit words or linguistic units (sādhu śabda) that brings the meritorious values, denying the attribution of the same religious merit to the incorrect use of Sanskrit words (asādhu śabda) or the vernacular or corrupt forms (apa-śabda or apabhraṁśa), even though they may help in communication. The current research, the culmination of the doctoral research on sentence definition, studies the difference among the comprehension of both correct and incorrect word forms in Sanskrit and Marathi languages in India. Based on the total of 19 experiments (both web-based and classroom-controlled) on approximately 900 Indian readers, it is found that while the incorrect forms in Sanskrit are comprehended with lesser accuracy than the correct word forms, no such difference can be seen for the Marathi language. It is interpreted that the incorrect word forms in the native language or in the language which is spoken daily (such as Marathi) will pose a lesser cognitive load as compared to the language that is not spoken on a daily basis but only used for reading (such as Sanskrit). The theoretical base for the research problem is as follows: among the three main schools of Language Science in ancient India, the Vaiyākaraṇas (Grammarians) hold that the corrupt word forms do have their own expressive power since they convey meaning, while as the Mimāṁsakas (the Exegesists) and the Naiyāyikas (the Logicians) believe that the corrupt forms can only convey the meaning indirectly, by recalling their association and similarity with the correct forms. The grammarians argue that the vernaculars that are born of the speaker’s inability to speak proper Sanskrit are regarded as degenerate versions or fallen forms of the ‘divine’ Sanskrit language and speakers who could not use proper Sanskrit or the standard language were considered as Śiṣṭa (‘elite’). The different ideas of different schools strictly adhere to their textual dispositions. For the last few years, sociolinguists have agreed that no variety of language is inherently better than any other; they are all the same as long as they serve the need of people that use them. Although the standard form of a language may offer the speakers some advantages, the non-standard variety is considered the most natural style of speaking. This is visible in the results. If the incorrect word forms incur the recall of the correct word forms in the reader as the theory suggests, it would have added one extra step in the process of sentential cognition leading to more cognitive load and less accuracy. This has not been the case for the Marathi language. Although speaking and listening to the vernaculars is the common practice and reading the vernacular is not, Marathi readers have readily and accurately comprehended the incorrect word forms in the sentences, as against the Sanskrit readers. The primary reason being Sanskrit is spoken and also read in the standard form only and the vernacular forms in Sanskrit are not found in the conversational data.

Keywords: experimental sociolinguistics, grammaticality and meaningfulness, Marathi, Sanskrit

Procedia PDF Downloads 107
372 Advocacy for Increasing Health Care Budget in Parepare City with DALY Approach: Case Study on Improving Public Health Insurance Budget

Authors: Kasman, Darmawansyah, Alimin Maidin, Amran Razak

Abstract:

Background: In decentralization, advocacy is needed to increase the health budget in Parepare District. One of the advocacy methods recommended by the World Bank is the economic loss approach. Methods: This research is observational in the field of health economics that contributes directly to the magnitude of the economic loss of the community and the government and provides advocacy to the executive and legislative to see the harm it causes. Results: The research results show the amount of direct cost, which consists of household expenditure for transport Rp.295,865,500. Indirect Cost of YLD of Rp.14.688.000, and YLL of Rp.28.986.336.00, so the amount of DALY is Rp.43.674.336.000. The total economic loss of Rp.43.970.201.500. These huge economic losses can be prevented by increasing the allocation of health budgets for promotive and preventive efforts and expanding the coverage of health insurance for the community. Conclusion: There is a need to advocate the executive and legislative about the importance of guarantee on public health financing by conducting studies in terms of economic losses so that all strategic alliances believe that health is an investment.

Keywords: advocacy, economic lost, health insurance, economic losses

Procedia PDF Downloads 91
371 Restructurasation of the Concept of Empire in the Social Consciousness of Modern Americans

Authors: Maxim Kravchenko

Abstract:

The paper looks into the structure and contents of the concept of empire in the social consciousness of modern Americans. To construct the model of this socially and politically relevant concept we have conducted an experiment with respondents born and living in the USA. Empire is seen as a historic notion describing such entities as the British empire, the Russian empire, the Ottoman empire and others. It seems that the democratic regime adopted by most countries worldwide is incompatible with imperial status of a country. Yet there are countries which tend to dominate in the contemporary world and though they are not routinely referred to as empires, in many respects they are reminiscent of historical empires. Thus, the central hypothesis of the study is that the concept of empire is cultivated in some states through the intermediary of the mass media though it undergoes a certain transformation to meet the expectations of a democratic society. The transformation implies that certain components which were historically embedded in its structure are drawn to the margins of the hierarchical structure of the concept whereas other components tend to become central to the concept. This process can be referred to as restructuration of the concept of empire. To verify this hypothesis we have conducted a study which falls into two stages. First we looked into the definition of empire featured in dictionaries, the dominant conceptual components of empire are: importance, territory/lands, recognition, independence, authority/power, supreme/absolute. However, the analysis of 100 articles from American newspapers chosen at random revealed that authors rarely use the word «empire» in its basic meaning (7%). More often «empire» is used when speaking about countries, which no longer exist or when speaking about some corporations (like Apple or Google). At the second stage of the study we conducted an associative experiment with the citizens of the USA aged 19 to 45. The purpose of the experiment was to find out the dominant components of the concept of empire and to construct the model of the transformed concept. The experiment stipulated that respondents should give the first association, which crosses their mind, on reading such stimulus phrases as “strong military”, “strong economy” and others. The list of stimuli features various words and phrases associated with empire including the words representing the dominant components of the concept of empire. Then the associations provided by the respondents were classified into thematic clusters. For instance, the associations to the stimulus “strong military” were compartmentalized into three groups: 1) a country with strong military forces (North Korea, the USA, Russia, China); 2) negative impression of strong military (war, anarchy, conflict); 3) positive impression of strong military (peace, safety, responsibility). The experiment findings suggest that the concept of empire is currently undergoing a transformation which brings about a number of changes. Among them predominance of positively assessed components of the concept; emergence of two poles in the structure of the concept, that is “hero” vs. “enemy”; marginalization of any negatively assessed components.

Keywords: associative experiment, conceptual components, empire, restructurasation of the concept

Procedia PDF Downloads 290
370 Jurisdiction Conflicts in Contracts of International Maritime Transport: The Application of the Forum Selection Clause in Brazilian Courts

Authors: Renan Caseiro De Almeida, Mateus Mello Garrute

Abstract:

The world walks to be ever more globalised. This trend promotes an increase on the number of transnational commercial transactions. The main modal for carriage of goods is by sea, and many countries have their economies dependent on the maritime freightage – it could be because they exercise largely this activity or because they follow the tendency of using the maritime logistic widely. Among these ones, Brazil is included. This nation counts with sixteen ports with good capacities, which receive most of the international income by sea. It is estimated that 85 per cent of the total influx of goods in Brazil is by maritime modal, leaving mere 15 per cent for the other ones. This made it necessary to develop maritime law in international and national basis, to create a standard to be applied with the intention to harmonize the transnational carriage of goods by sea. Maritime contracts are very specific and have interesting peculiarities, but in their range, little research has been made on what causes the main divergences when it comes to international contracts: the jurisdiction conflict. Likewise any other international contract, it is common for the parties to set a forum selection clause to choose the forum which will be able to judge the litigations that could rise from a maritime transport contract and, consequently, also which law should be applied to the cases. However, the forum choice in Brazil has always been somewhat polemical – not only in the maritime law sphere - for sometimes national tribunals overlook the parties’ choice and call the competence for themselves. In this sense, it is interesting to mention that the Mexico Convention of 1994 about the law applicable to international contracts did not gain strength in Brazil, nor even reached the Congress to be considered for ratification. Furthermore, it is also noteworthy that Brazil has a new Civil Procedure Code, which was put into reinforcement in 2016 bringing new legal provisions specifically about the forum selection. This represented a mark in the national legal system in this matter. Therefore, this paper intends to give an insight through Brazilian jurisprudence, making an analysis of how this issue has been treated on litigations about maritime contracts in the national tribunals, as well as the solutions found by the Brazilian legal system for the jurisdiction conflicts in those cases. To achieve the expected results, the hypothetical-deductive method will be used in combination with researches on doctrine and legislations. Also, jurisprudential research and case law study will have a special role, since the main point of this paper is to verify and study the position of the courts in Brazil in a specific matter. As a country of civil law, the Brazilian judges and tribunals are very attached to the rules displayed on codes. However, the jurisprudential understanding has been changing during the years and with the advent of the new rules about the applicable law and forum selection clause, it is noticeable that new winds are being blown.

Keywords: applicable law, forum selection clause, international business, international maritime contracts, litigation in courts

Procedia PDF Downloads 257
369 Invisible Feminists: An Autonomist Marxist Perspective of Digital Labour and Resistance Within the Online Sex Industry

Authors: Josie West

Abstract:

This paper focuses on the conflicts and utility of Marxist Feminist frames for sex work research, drawing on findings uncovered through in-depth interviews with online sex workers, alongside critical discourse analysis of media and political commentary. It brings the critical perspective of women into digital workerism and gig economy dialogue who, despite their significant presence within online work, have been overlooked. The autonomist Marxist concept of class composition is adopted to unpack the social, technical and political composition of this often-invisible segment of the service sector. Autonomism makes visible the perspective of workers engaged in processes of mobilization and demobilizaiton. This allows researchers to find everyday forms of resistance which occur within and outside trade unions. On the other hand, Marxist feminist arguments about invisibility politics can generate unhelpful allegories about sex work as domestic labour within the reproductive sphere. Nick Srnicek’s development of Marx’s notion of infrastructure rents helps theorize experiences of unpaid labour within online sex work. Moreover, debates about anti-work politics can cause conflict among sex workers fighting for the labour movement and those rejecting the capitalist work ethic. This illuminates’ tensions caused by white privilege and differing experiences of sex work. The monopolistic and competitive nature of sex work platforms within platform capitalism, and the vulnerable position of marginalised workers within stigmatized/criminalised markets, complicates anti-work politics further. This paper is situated within the feminist sex wars and the intensely divisive question of whether sex workers are victims of the patriarchy or symbols of feminist resistance. Camgirls are shown to engage in radical tactics of resistance against their technical composition on popular sex work platforms. They also engage in creative acts of resistance through performance art, in an attempt to draw attention to stigma and anti-criminalization politics. This sector offers a fascinating window onto grassroots class-action, alongside education about ‘whorephobia.’ A case study of resistance against Only Fans, and a small workers co-operative which emerged during the pandemic, showcases how workers engage in socialist and political acts without the aid of unions. Workers are victims of neoliberalism and simultaneous adopters of neoliberal strategies of survival. The complex dynamics within unions are explored, including tensions with grass-roots resistance, financial pressures and intersecting complications of class, gender and race.

Keywords: autonomist marxism, digital labor, feminism, neoliberalism, sex work, platform capitalism

Procedia PDF Downloads 68
368 Study for an Optimal Cable Connection within an Inner Grid of an Offshore Wind Farm

Authors: Je-Seok Shin, Wook-Won Kim, Jin-O Kim

Abstract:

The offshore wind farm needs to be designed carefully considering economics and reliability aspects. There are many decision-making problems for designing entire offshore wind farm, this paper focuses on an inner grid layout which means the connection between wind turbines as well as between wind turbines and an offshore substation. A methodology proposed in this paper determines the connections and the cable type for each connection section using K-clustering, minimum spanning tree and cable selection algorithms. And then, a cost evaluation is performed in terms of investment, power loss and reliability. Through the cost evaluation, an optimal layout of inner grid is determined so as to have the lowest total cost. In order to demonstrate the validity of the methodology, the case study is conducted on 240MW offshore wind farm, and the results show that it is helpful to design optimally offshore wind farm.

Keywords: offshore wind farm, optimal layout, k-clustering algorithm, minimum spanning algorithm, cable type selection, power loss cost, reliability cost

Procedia PDF Downloads 368
367 A Quantitative and Exploratory Study of the Changing Ideals and Challenges Involving the Modern Olympic Movement

Authors: Ram Dayal

Abstract:

Since inception of the modern Olympic Games in 1896 in Athens, Greece, it has undergone a paradigm shift over a period of more than a century. It originated with the purpose of inculcating physical and moral qualities, sense of aesthetics, ethical and spiritual value and educating young people, through the spread of the philosophy of amateurism, which is free from the vices of racial discrimination, any country’s domination, corruption, doping menace and political interference. Now, it has metamorphosed into the arena where only professionalism matters and has been reduced to the show of strength for countries analogous to the cold war. Rather than spirit of sports, the economics of sports is the more relevant underpinning. Changes in medal tally over a period of time and its correlation with the changing geo-political structure have been evaluated quantitatively using regression analyses, which have yielded statistically significant relationship among variables. The present study also tries to explore this shift in Olympic spirit through historical approach, using books, thesis, dissertations, articles, related documents. The present study will help evaluate the Olympic ideals with modern perspective and the need to replace or reinstall the same in order to nurture and rejuvenate the modern Olympic movement.

Keywords: challenges, games, olympic, sports

Procedia PDF Downloads 206
366 Nonlinear Relationship between Globalization and Control of Corruption along with Economic Growth

Authors: Elnaz Entezar, Reza Ezzati

Abstract:

In recent decades, trade flows, capital, workforce, technology and information have increased between international borders and the globalization has turned to an undeniable process in international economics. Meanwhile, despite the positive aspects of globalization, the critics of globalization opine that the risks and costs of globalization for developing vulnerable economies and the world's impoverished people are high and significant. In this regard, this study by using the data of KOF Economic Institute and the World Bank for 113 different countries during the period 2002-2012, by taking advantage of panel smooth transition regression, and by taking the gross domestic product as transmission variables discuss the nonlinear relationship between research variables. The results have revealed that globalization in low regime (countries with low GDP) has negative impact whereas in high regime (countries with high GDP) has a positive impact. In spite of the fact that in the early stages of growth, control of corruption has a positive impact on economic growth, after a threshold has a negative impact on economic growth.

Keywords: globalization, corruption, panel smooth transition model, economic growth, threshold, economic convergence

Procedia PDF Downloads 266
365 The Impact of Team Heterogeneity and Team Reflexivity on Entrepreneurial Decision -Making - Empirical Study in China

Authors: Chang Liu, Rui Xing, Liyan Tang, Guohong Wang

Abstract:

Entrepreneurial actions are based on entrepreneurial decisions. The quality of decisions influences entrepreneurial activities and subsequent new venture performance. Uncertainty of surroundings put heightened demands on the team as a whole, and each team member. Diverse team composition provides rich information, which a team can draw when making complex decisions. However, team heterogeneity may cause emotional conflicts, which is adverse to team outcomes. Thus, the effects of team heterogeneity on team outcomes are complex. Although team heterogeneity is an essential factor influencing entrepreneurial decision-making, there is a lack of empirical analysis on under what conditions team heterogeneity plays a positive role in promoting decision-making quality. Entrepreneurial teams always struggle with complex tasks. How a team shapes its teamwork is key in resolving constant issues. As a collective regulatory process, team reflexivity is characterized by continuous joint evaluation and discussion of team goals, strategies, and processes, and adapt them to current or anticipated circumstances. It enables diversified information to be shared and overtly discussed. Instead of hostile interpretation of opposite opinions team members take them as useful insights from different perspectives. Team reflexivity leads to better integration of expertise to avoid the interference of negative emotions and conflict. Therefore, we propose that team reflexivity is a conditional factor that influences the impact of team heterogeneity on high-quality entrepreneurial decisions. In this study, we identify team heterogeneity as a crucial determinant of entrepreneurial decision quality. Integrating the literature on decision-making and team heterogeneity, we investigate the relationship between team heterogeneity and entrepreneurial decision-making quality, treating team reflexivity as a moderator. We tested our hypotheses using the hierarchical regression method and the data gathered from 63 teams and 205 individual members from 45 new firms in China's first-tier cities such as Beijing, Shanghai, and Shenzhen. This research found that both teams' education heterogeneity and teams' functional background heterogeneity were significantly positively related to entrepreneurial decision-making quality, and the positive relation was stronger in teams with a high level of team reflexivity. While teams' specialization of education heterogeneity was negatively related to decision-making quality, and the negative relationship was weaker in teams with a high level of team reflexivity. We offer two contributions to decision-making and entrepreneurial team literatures. Firstly, our study enriches the understanding of the role of entrepreneurial team heterogeneity in entrepreneurial decision-making quality. Different from previous entrepreneurial decision-making literatures, which focus more on decision-making modes of entrepreneurs and the top management team, this study is a significant attempt to highlight that entrepreneurial team heterogeneity makes a unique contribution to generating high-quality entrepreneurial decisions. Secondly, this study introduced team reflexivity as the moderating variable, to explore the boundary conditions under which the entrepreneurial team heterogeneity play their roles.

Keywords: decision-making quality, entrepreneurial teams, education heterogeneity, functional background heterogeneity, specialization of education heterogeneity

Procedia PDF Downloads 103
364 Life at the Fence: Lived Experiences of Navigating Cultural and Social Complexities among South Sudanese Refugees in Australia

Authors: Sabitra Kaphle, Rebecca Fanany, Jenny Kelly

Abstract:

Australia welcomes significant numbers of humanitarian arrivals every year with the commitment to provide equal opportunities and the resources required for integration into the new society. Over the last two decades, more than 24,000 South Sudanese people have come to call Australia home. Most of these refugees experienced several challenges whilesettlinginto the new social structures and service systems in Australia. The aim of the research is to explore the factors influencing social and cultural integration of South Sudanese refugees who have settled in Australia. Methodology: This studyused a phenomenological approach based on in-depth interviews designed to elicit the lived experiences of South Sudanese refugees settled in Australia. It applied the principles of narrative ethnography, allowing participants an opportunity to speak about themselves and their experiences of social and cultural integration-using their own words. Twenty-six participants were recruited to the study. Participants were long-term residents (over 10 years of settlement experience)who self-identified as refugees from South Sudan. Participants were given an opportunity to speak in the language of their choice, and interviews were conducted by a bilingual interviewer in their preferred language, time, and location. Interviews were recorded and transcribed verbatim and translated to Englishfor thematic analysis. Findings: Participants’ experiences portray the complexities of integrating into a new society due tothe daily challenges that South Sudaneserefugees face. Themes emerged from narrativesindicated that South Sudanese refugees express a high level of association with a Sudanese identity while demonstrating a significant level of integration into the Australian society. Despite this identity dilemma, these refugees show a high level of consensus about the experiencesof living in Australia that is closely associated with a group identity. In the process of maintaining identity andsocial affiliation, there are significant inter-generational cultural conflicts that participants experience in adapting to Australian society. It has been elucidated that identityconflict often emerges centeringon what constitutes authentic cultural practice as well as who is entitled to claim to be a member of the South Sudanese culture. Conclusions: Results of this study suggest that the cultural identity and social affiliations of South Sudanese refugees settling into Australian society are complex and multifaceted. While there are positive elements of theirintegration into the new society, inter-generational conflictsand identity confusion require further investigation to understand the context that will assist refugees to integrate more successfully into their new society. Given the length of stay of these refugees in Australia, government and settlement agencies may benefit from developing appropriate resources and process that are adaptive to the social and cultural context in which newly arrived refugees will live.

Keywords: cultural integration, inter-generational conflict, lived experiences, refugees, South sudanese

Procedia PDF Downloads 97
363 Preliminary Design of Maritime Energy Management System: Naval Architectural Approach to Resolve Recent Limitations

Authors: Seyong Jeong, Jinmo Park, Jinhyoun Park, Boram Kim, Kyoungsoo Ahn

Abstract:

Energy management in the maritime industry is being required by economics and in conformity with new legislative actions taken by the International Maritime Organization (IMO) and the European Union (EU). In response, the various performance monitoring methodologies and data collection practices have been examined by different stakeholders. While many assorted advancements in operation and technology are applicable, their adoption in the shipping industry stays small. This slow uptake can be considered due to many different barriers such as data analysis problems, misreported data, and feedback problems, etc. This study presents a conceptual design of an energy management system (EMS) and proposes the methodology to resolve the limitations (e.g., data normalization using naval architectural evaluation, management of misrepresented data, and feedback from shore to ship through management of performance analysis history). We expect this system to make even short-term charterers assess the ship performance properly and implement sustainable fleet control.

Keywords: data normalization, energy management system, naval architectural evaluation, ship performance analysis

Procedia PDF Downloads 430
362 Articulating the Colonial Relation, a Conversation between Afropessimism and Anti-Colonialism

Authors: Thomas Compton

Abstract:

As Decolonialism becomes an important topic in Political Theory, the rupture between the colonized and the colonist relation has lost attention. Focusing on the anti-colonial activist Madhi Amel, we shall consider his attention to the permanence of the colonial relation and how it preempts Frank Wilderson’s formulation of (white) culturally necessary Anti-Black violence. Both projects draw attention away from empirical accounts of oppression, instead focusing on the structural relation which precipitates them. As Amel says that we should stop thinking of the ‘underdeveloped’ as beyond the colonial relation, Wilderson says we should stop think of the Black rights that have surpassed the role of the slave. However, Amel moves beyond his idol Althusser’s Structuralism toward a formulation of the colonial relation as source of domination. Our analysis will take a Lacanian turn in considering how this non-relation was formulated as a relation how this space of negativity became a ideological opportunity for Colonial domination. Wilderson’s work shall problematise this as we conclude with his criticisms of Structural accounts for the failure to consider how Black social death exists as more than necessity but a cite of white desire. Amel, a Lebanese activist and scholar (re)discovered by Hicham Safieddine, argues colonialism is more than the theft of land, but instead a privatization of collective property and form of investment which (re)produces the status of the capitalist in spaces ‘outside’ the market. Although Amel was a true Marxist-Leninsist, who exposited the economic determinacy of the Colonial Mode of Production, we are reading this account through Alenka Zupančič’s reformulation of the ‘invisible hand job of the market’. Amel points to the signifier ‘underdeveloped’ as buttressed on a pre-colonial epistemic break, as the Western investor (debt collector) sees the (post?) colony narcissistic image. However, the colony can never become site of class conflict, as the workers are not unified but existing between two countries. In industry, they are paid in Colonial subjectivisation, the promise of market (self)pleasure, at home, they are refugees. They are not, as Wilderson states, in the permanent social death of the slave, but they are less than the white worker. This is formulated as citizen (white), non-citizen (colonized), anti-citizen (Black/slave). Here we may also think of how indentured Indians were used as instruments of colonial violence. Wilderson’s aphorism “there is no analogy to anti-Black violence” lays bare his fundamental opposition between colonial and specifically anti-Black violence. It is not only that the debt collector, landowner, or other owners of production pleasures themselves as if their hand is invisible. The absolute negativity between colony and colonized provides a new frontier for desire, the development of a colonial mode of production. An invention inside the colonial structure that is generative of class substitution. We shall explore how Amel ignores the role of the slave but how Wilderson forecloses the history African anti-colonial.

Keywords: afropessimism, fanon, marxism, postcolonialism

Procedia PDF Downloads 130
361 Community Adaptation of Drought Disaster in Grobogan District, Central Java Province, Indonesia

Authors: Chatarina Muryani, Sarwono, Sugiyanto Heribentus

Abstract:

Major part of Grobogan District, Central Java Province, Indonesia, always suffers from drought every year. The drought has implications toward almost all of the community activities, both domestic, agriculture, livestock, and industrial. The aim of this study was to determine (1) the drought distribution area in Grobogan District in 2015; (2) the impact of drought; and (3) the community adaptation toward the drought. The subject of the research was people who were impacted by the drought, purposive sampling technique was used to draw the sample. The data collection method was using field observation and in-depth interview while the data analysis was using descriptive analysis. The results showed that (1) in 2015, there were 14 districts which were affected by the drought and only 5 districts which do not suffer from drought, (2) the drought impacted to the reduction of water for domestic compliance, reduction of agricultural production, reduction of public revenue, (3) community adaptation to meet domestic water need was by making collective deep-wells and building water storages, adaptation in agriculture was done by setting the cropping pattern, while adaptation on economics was by allocating certain amount of funds for the family in anticipation of drought, which was mostly to purchase water.

Keywords: adaptation, distribution, drought, impacts

Procedia PDF Downloads 355
360 Thermal Comfort Investigation Based on Predicted Mean Vote (PMV) Index Using Computation Fluid Dynamic (CFD) Simulation: Case Study of University of Brawijaya, Malang-Indonesia

Authors: Dewi Hardiningtyas Sugiono

Abstract:

Concerning towards the quality of air comfort and safety to pedestrians in the University area should be increased as Indonesia economics booming. Hence, the University management needs guidelines of thermal comfort to innovate a new layout building. The objectives of this study is to investigate and then to evaluate the distribution of thermal comfort which is indicated by predicted mean vote (PMV) index at the University of Brawijaya (UB), Malang. The PMV figures are used to evaluate and to redesign the UB layout. The research is started with study literature and early survey to collect all information of building layout and building shape at the University of Brawijaya. The information is used to create a 3D model in CAD software. The model is simulated by Computational Fluid Dynamic (CFD) software to measure the PMV factors of air temperature, relative humidity and air speed in some locations. Validation is done by comparing between PMV value from observation and PMV value from simulation. The resuls of the research shows the most sensitive of microclimatic factors is air temperature surrounding the UB building. Finally, the research is successfully figure out the UB layout and provides further actions to increase the thermal comfort.

Keywords: thermal comfort, heat index (HI), CFD, layout

Procedia PDF Downloads 285
359 Applying Biculturalism in Studying Tourism Host Community Cultural Integrity and Individual Member Stress

Authors: Shawn P. Daly

Abstract:

Communities heavily engaged in the tourism industry discover their values intersect, meld, and conflict with those of visitors. Maintaining cultural integrity in the face of powerful external pressures causes stress among society members. This effect represents a less studied aspect of sustainable tourism. The present paper brings a perspective unique to the tourism literature: biculturalism. The grounded theories, coherent hypotheses, and validated constructs and indicators of biculturalism represent a sound base from which to consider sociocultural issues in sustainable tourism. Five models describe the psychological state of individuals operating at cultural crossroads: assimilation (joining the new culture), acculturation (grasping the new culture but remaining of the original culture), alternation (varying behavior to cultural context), multicultural (maintaining distinct cultures), and fusion (blending cultures). These five processes divide into two units of analysis (individual and society), permitting research questions at levels important for considering sociocultural sustainability. Acculturation modelling has morphed into dual processes of acculturation (new culture adaptation) and enculturation (original culture adaptation). This dichotomy divides sustainability research questions into human impacts from assimilation (acquiring new culture, throwing away original), separation (rejecting new culture, keeping original), integration (acquiring new culture, keeping original), and marginalization (rejecting new culture, throwing away original). Biculturalism is often cast in terms of its emotional, behavioral, and cognitive dimensions. Required cultural adjustments and varying levels of cultural competence lead to physical, psychological, and emotional outcomes, including depression, lowered life satisfaction and self-esteem, headaches, and back pain—or enhanced career success, social skills, and life styles. Numerous studies provide empirical scales and research hypotheses for sustainability research into tourism’s causality and effect on local well-being. One key issue in applying biculturalism to sustainability scholarship concerns identification and specification of the alternative new culture contacting local culture. Evidence exists for tourism industry, universal tourist, and location/event-specific tourist culture. The biculturalism paradigm holds promise for researchers examining evolving cultural identity and integrity in response to mass tourism. In particular, confirmed constructs and scales simplify operationalization of tourism sustainability studies in terms of human impact and adjustment.

Keywords: biculturalism, cultural integrity, psychological and sociocultural adjustment, tourist culture

Procedia PDF Downloads 385
358 The 4th Critical R: Conceptualising the Development of Resilience as an Addition to the 3 Rs of the Essential Education Curricula

Authors: Akhentoolove Corbin, Leta De Jonge, Charmaine De Jonge

Abstract:

Introduction: Various writers have promoted the adoption of the 4th R in the education curricula (relationships, respect, reasoning, religion, computing, science, art, conflict management, music) and the 5th R (responsibility). They argue that the traditional 3 Rs are not adequate for the modern environment and the requirements for students to become functional citizens in society. In particular, the developing countries of the anglophone Caribbean (most of which are tiny islands) are susceptible to the dangers and complexities of climate change and global economic volatility. These proposed additions to the 3Rs do have some justification, but this research considers Resilience as even more important and relevant in a world that is faced with the negative prospects of climate change, poverty, discrimination, and economic volatility. It is argued that the foundation for resilient citizens, workers, and workplaces, must be built in the elementary and secondary/middle schools and then through the tertiary level, to achieve an outcome of more resilient students. Government, business, and society require widespread resilience to be capable of ‘bouncing back’ and be more adaptable, transformational, and sustainable. Methodology: The paper utilises a mixed-methods approach incorporating a questionnaire and interviews to determine participants’ opinions on the importance and relevance of resilience in the schools’ curricula and to government, business, and society. The target groups are as follows: educators at all levels, education administrators, members of the business sector, public sector, and 3rd sector. The research specifically targets the anglophone Caribbean developing countries (Barbados, Guyana, Jamaica, Trinidad, St. Lucia, and St Vincent, and the Grenadines). The research utilises SPSS for data analysis. Major Findings: The preliminary findings suggest that the majority of participants support the adoption of resilience as a 4th R in the curricula of the elementary, secondary/middle schools, and tertiary level in the anglophone Caribbean. The final results will allow the researchers to reveal more specific details on any variations among the islands in the sample andto engage in an in-depth discussion of the relevance and importance of resilience as the 4th R. Conclusion: Results seem to suggest that the education system should adopt the 4th R of resilience so that educators working in collaboration with the family and community/village can develop young citizens who are more resilient and capable of manifesting the behaviours and attitudes associated with ‘bouncing back,’ adaptability, transformation, and sustainability. These findings may be useful for education decision-makers and governments in these Caribbean islands, who have the authority and responsibility for the development of education policy, laws, and regulations.

Keywords: education, resilient students, adaptable, transformational, resilient citizens, workplaces, government

Procedia PDF Downloads 52
357 Collaborative Energy Optimization for Multi-Microgrid Distribution System Based on Two-Stage Game Approach

Authors: Hanmei Peng, Yiqun Wang, Mao Tan, Zhuocen Dai, Yongxin Su

Abstract:

Efficient energy management in multi-microgrid distribution systems holds significant importance for enhancing the economic benefits of regional power grids. To better balance conflicts among various stakeholders, a two-stage game-based collaborative optimization approach is proposed in this paper, effectively addressing the realistic scenario involving both competition and collaboration among stakeholders. The first stage, aimed at maximizing individual benefits, involves constructing a non-cooperative tariff game model for the distribution network and surplus microgrid. In the second stage, considering power flow and physical line capacity constraints we establish a cooperative P2P game model for the multi-microgrid distribution system, and the optimization involves employing the Lagrange method of multipliers to handle complex constraints. Simulation results demonstrate that the proposed approach can effectively improve the system economics while harmonizing individual and collective rationality.

Keywords: cooperative game, collaborative optimization, multi-microgrid distribution system, non-cooperative game

Procedia PDF Downloads 43
356 Dynamic Effects of Charitable Giving in a Ramsey Model

Authors: Riham Barbar

Abstract:

This paper studies the dynamic effects of charitable giving in a Ramsey model à la Becker and Foias (1994), such that heterogeneity is reduced to two types of agents: rich and poor. It is assumed that rich show a great concern for poor and enjoy giving. The introduction of charitable giving in this paper is inspired from the notion of Zakat (borrowed from the Islamic Economics) and is defined according to the warm-glow of Andreoni (1990). In this framework, we prove the existence of a steady state where only the patient agent holds capital. Furthermore, we show that local indetermincay appears. While moderate values of charitable-giving elasticity makes the appearance of endogenous fluctuations due to self-fulfilling expectations more likely, high values of this elasticity stabilizes endogenous fluctuations, by narrowing down the range of parameter values compatible with local indeterminacy and may rule out expectations-driven fluctuations if it exceeds certain threshold. Finally, cycles of period two emerge. However, charitable-giving makes it less likely for these cycles to emerge.

Keywords: charitable giving, warm-glow, bifurcations, heterogeneous agents, indeterminacy, self-fulfilling expectations, endogenous fluctuations

Procedia PDF Downloads 296
355 Repeatable Scalable Business Models: Can Innovation Drive an Entrepreneurs Un-Validated Business Model?

Authors: Paul Ojeaga

Abstract:

Can the level of innovation use drive un-validated business models across regions? To what extent does industrial sector attractiveness drive firm’s success across regions at the time of start-up? This study examines the role of innovation on start-up success in six regions of the world (namely Sub Saharan Africa, the Middle East and North Africa, Latin America, South East Asia Pacific, the European Union and the United States representing North America) using macroeconomic variables. While there have been studies using firm level data, results from such studies are not suitable for national policy decisions. The need to drive a regional innovation policy also begs for an answer, therefore providing room for this study. Results using dynamic panel estimation show that innovation counts in the early infancy stage of new business life cycle. The results are robust even after controlling for time fixed effects and the study present variance-covariance estimation robust standard errors.

Keywords: industrial economics, un-validated business models, scalable models, entrepreneurship

Procedia PDF Downloads 262
354 Ferric Sulphate Catalyzed Esterification of High Free Fatty Acids Content Used Coconut Oil for Biodiesel Synthesis

Authors: G. N. Maheshika, J. A. R. H. Wijerathna, S. H. P. Gunawardena

Abstract:

Feedstock with high free fatty acids (FFAs) content can be successfully employed for biodiesel synthesis once the high FFA content is reduced to the desired levels. In the present study, the applicability of ferric sulphate as the solid acid catalyst for esterification of FFA in used coconut oil was evaluated at varying catalyst concentration and methanol:oil molar ratios. 1.25, 2.5, 3.75 and 5.0% w/w Fe2(SO4)3 on oil basis was used at methanol:oil ratios of 3:1, 4.5:1, and 6:1 and at the reaction temperature of 60 0C. The FFA reduction increased with the increase in catalyst and methanol:oil molar ratios while the time requirement to reach the esterification equilibrium reduced. Satisfactory results for esterification could be obtained within a small reaction period in the presence of only a small amount of Fe2(SO4)3 catalyst concentration and at low reaction temperature, which then can be subjected for trans-esterification process. At the end of the considering reaction period the solid Fe2(SO4)3 catalyst could be separated from the reaction system. The economics of the Fe2(SO4)3 catalyzed esterification of high FFA content used coconut oil for biodiesel is at favorable conditions.

Keywords: biodiesel, esterification, ferric sulphate, Free fatty acids, used coconut oil

Procedia PDF Downloads 532
353 Co-Creation of an Entrepreneurship Living Learning Community: A Case Study of Interprofessional Collaboration

Authors: Palak Sadhwani, Susie Pryor

Abstract:

This paper investigates interprofessional collaboration (IPC) in the context of entrepreneurship education. Collaboration has been found to enhance problem solving, leverage expertise, improve resource allocation, and create organizational efficiencies. However, research suggests that successful collaboration is hampered by individual and organizational characteristics. IPC occurs when two or more professionals work together to solve a problem or achieve a common objective. The necessity for this form of collaboration is particularly prevalent in cross-disciplinary fields. In this study, we utilize social exchange theory (SET) to examine IPC in the context of an entrepreneurship living learning community (LLC) at a large university in the Western United States. Specifically, we explore these research questions: How are rules or norms established that govern the collaboration process? How are resources valued and distributed? How are relationships developed and managed among and between parties? LLCs are defined as groups of students who live together in on-campus housing and share similar academic or special interests. In 2007, the Association of American Colleges and Universities named living communities a high impact practice (HIP) because of their capacity to enhance and give coherence to undergraduate education. The entrepreneurship LLC in this study was designed to offer first year college students the opportunity to live and learn with like-minded students from diverse backgrounds. While the university offers other LLC environments, the target residents for this LLC are less easily identified and are less apparently homogenous than residents of other LLCs on campus (e.g., Black Scholars, LatinX, Women in Science and Education), creating unique challenges. The LLC is a collaboration between the university’s College of Business & Public Administration and the Department of Housing and Residential Education (DHRE). Both parties are contributing staff, technology, living and learning spaces, and other student resources. This paper reports the results an ethnographic case study which chronicles the start-up challenges associated with the co-creation of the LLC. SET provides a general framework for examining how resources are valued and exchanged. In this study, SET offers insights into the processes through which parties negotiate tensions resulting from approaching this shared project from very different perspectives and cultures in a novel project environment. These tensions occur due to a variety of factors, including team formation and management, allocation of resources, and differing output expectations. The results are useful to both scholars and practitioners of entrepreneurship education and organizational management. They suggest probably points of conflict and potential paths towards reconciliation.

Keywords: case study, ethnography, interprofessional collaboration, social exchange theory

Procedia PDF Downloads 121
352 Hydrodynamic Study of Laminar Flow in Agitated Vessel by a Curved Blade Agitator

Authors: A. Benmoussa, M. Bouanini, M. Rebhi

Abstract:

The mixing and agitation of fluid in stirred tank is one of the most important unit operations for many industries such as chemical, biotechnological, pharmaceutical, petrochemical, cosmetic, and food processing. Therefore, determining the level of mixing and overall behaviour and performance of the mixing tanks are crucial from the product quality and process economics point of views. The most fundamental needs for the analysis of these processes from both a theoretical and industrial perspective is the knowledge of the hydrodynamic behaviour and the flow structure in such tanks. Depending on the purpose of the operation carried out in mixer, the best choice for geometry of the tank and agitator type can vary widely. Initially, a local and global study namely the velocity and power number on a typical agitation system agitated by a mobile-type two-blade straight (d/D=0.5) allowed us to test the reliability of the CFD, the result were compared with those of experimental literature, a very good concordance was observed. The stream function, the velocity profile, the velocity fields and power number are analyzed. It was shown that the hydrodynamics is modified by the curvature of the mobile which plays a key role.

Keywords: agitated tanks, curved blade agitator, laminar flow, CFD modelling

Procedia PDF Downloads 384
351 The Use of Ensiled Sweet Potato Vines as Feed for Growing Rabbits

Authors: O. John Makinde

Abstract:

A total of 60 crossbred weaned rabbits with an average initial body weight of 650 ±2.00 g were used to study the effects of dietary inclusion of graded levels of Ensiled sweet potato vines (ESPV) based diets on growth performance. Four experimental diets were formulated such that ESPV was included at the graded levels of 0, 10, 20 and 30 % in diets 1, 2, 3 and 4 respectively. The rabbits were randomly assigned into 4 treatments with 15 rabbits per treatment; each treatment was replicated thrice (5 rabbits per replicate) in a completely randomised design. The rabbits were managed based on standard experimental procedures. Feed and water were given ad libitum. Results of growth performance were not significantly different (p > 0.05) for final weight, total weight gain, total feed intake, feed conversion ratio and mortality. Carcass characteristics were not significantly (p > 0.05) affected by the treatments. The economics of production showed that diet with 30 % ESPV had the least cost/kg diets. It was concluded that ESPV can be included up to 30 % in growing rabbit diets without adverse effect on their performance, blood indices and cost of production.

Keywords: ensiled, sweet potato vines, performance, rabbits, Oryctolagus cuniculus

Procedia PDF Downloads 229
350 Content Monetization as a Mark of Media Economy Quality

Authors: Bela Lebedeva

Abstract:

Characteristics of the Web as a channel of information dissemination - accessibility and openness, interactivity and multimedia news - become wider and cover the audience quickly, positively affecting the perception of content, but blur out the understanding of the journalistic work. As a result audience and advertisers continue migrating to the Internet. Moreover, online targeting allows monetizing not only the audience (as customarily given to traditional media) but also the content and traffic more accurately. While the users identify themselves with the qualitative characteristics of the new market, its actors are formed. Conflict of interests is laid in the base of the economy of their relations, the problem of traffic tax as an example. Meanwhile, content monetization actualizes fiscal interest of the state too. The balance of supply and demand is often violated due to the political risks, particularly in terms of state capitalism, populism and authoritarian methods of governance such social institutions as the media. A unique example of access to journalistic material, limited by monetization of content is a television channel Dozhd' (Rain) in Russian web space. Its liberal-minded audience has a better possibility for discussion. However, the channel could have been much more successful in terms of unlimited free speech. Avoiding state pressure and censorship its management has decided to save at least online performance and monetizing all of the content for the core audience. The study Methodology was primarily based on the analysis of journalistic content, on the qualitative and quantitative analysis of the audience. Reconstructing main events and relationships of actors on the market for the last six years researcher has reached some conclusions. First, under the condition of content monetization the capitalization of its quality will always strive to quality characteristics of user, thereby identifying him. Vice versa, the user's demand generates high-quality journalism. The second conclusion follows the previous one. The growth of technology, information noise, new political challenges, the economy volatility and the cultural paradigm change – all these factors form the content paying model for an individual user. This model defines him as a beneficiary of specific knowledge and indicates the constant balance of supply and demand other conditions being equal. As a result, a new economic quality of information is created. This feature is an indicator of the market as a self-regulated system. Monetized information quality is less popular than that of the Public Broadcasting Service, but this audience is able to make decisions. These very users keep the niche sectors which have more potential of technology development, including the content monetization ways. The third point of the study allows develop it in the discourse of media space liberalization. This cultural phenomenon may open opportunities for the development of social and economic relations architecture both locally and regionally.

Keywords: content monetization, state capitalism, media liberalization, media economy, information quality

Procedia PDF Downloads 225
349 The Active Social Live of #Lovewins: Understanding the Discourse of Homosexual Love and Rights in Thailand

Authors: Tinnaphop Sinsomboonthong

Abstract:

The hashtag, #LoveWins, has been widely used for celebrating the victory of the LGBTQ movement since June 2015 when the US Supreme Court enacted the rights of same-sex marriage. Nowadays, the hashtag is generally used among active social media users in many countries, including Thailand. Amidst the political conflict between advocates of the junta-backed legislation related to same-sex marriage laws, known as ‘Thailand’s Civil Partnership Draft Bills,’ and its detractors, the hashtag becomes crucial for Thailand’s 2019 national election season and shortly afterward as it was one of the most crucial parts of a political campaign to rebrand many political parties’ image, create an LGBT-friendly atmosphere and neutralize the bi-polarized politics of the law. The use of the hashtag is, therefore, not just an online entertainment but a politico-discursive tool, used by many actors for many purposes. Behind the confrontation between supporters and opposers of the law, the hashtag is used by both sides to highlight the Western-centric normativity of homosexual love, closely associated with Eurocentric modernity and heteronormativity. As an online ethnographical study, this paper aims to analyze how #LoveWins is used among Thai social media users in late 2018 to mid-2019 and how it is signified by Thai social media users during the Drafted-Bills period and the 2019 national election. A number of preliminary surveys of data on Twitter were conducted in December 2018 and, more intensely, in January 2019. Later, the data survey was officially conducted twice during February and April 2019, while the data collection was done during May-June 2019. Only public posts on Twitter that include the hashtag, #LoveWins, or any hashtags quoting ‘love’ and ‘wins’ are the main targets of this research. As a result of this, the use of the hashtag can be categorized into three levels, including banal decoration, homosexual love celebration, and colonial discourse on homosexual love. Particularly in the third type of the use of the hashtag, discourse analysis is applied to reveal that this hashtag is closely associated with the discourse of development and modernity as most of the descriptive posts demonstrate aspirations to become more ‘developed and modernized’ like many Western countries and Taiwan, the LGBT capital in Asia. Thus, calls for the ‘right to homosexual love’ and the ‘right to same-sex marriage’ in Thailand are shaped and formulated within the discursive linkage between modernity, development, and love. Also, the use of #LoveWins can be considered as a de-queering process of love as only particular types of gender identity, sexual orientation, and relationships that reflect Eurocentric modernity and heteronormativity are acceptable and advocated. Due to this, more inclusive queer loves should be supported rather than a mere essentialist-traditionalist homosexual love. Homonormativity must be deconstructed, and love must no longer be reserved for only one particular type of relationship that is standardized from/by the West. It must become more inclusive.

Keywords: #LoveWins, homosexual love, LGBT rights, same-sex marriage

Procedia PDF Downloads 114
348 Biocompatibility assessment of different origin Barrier Membranes for Guided Bone Regeneration

Authors: Antonio Munar-Frau, Sascha Klismoch, Manfred Schmolz, Federico Hernandez-Alfaro, Jordi Caballe-Serrano

Abstract:

Introduction: Biocompatibility of biomaterials has been proposed as one of the main criteria for treatment success. For guided bone regeneration (GBR), barrier membranes present a conflict given the number of origins and modifications of these materials. The biologic response to biomaterials is orchestrated by a series of events leading to the integration or rejection of the biomaterial, posing questions such as if a longer occlusive property may trigger an inflammatory reaction. Whole blood cultures are a solution to study the immune response to drugs or biomaterials during the first 24-48 hours. The aim of this study is to determine the early immune response of different origins and chemical modifications of barrier membranes. Materials & Methods: 5 different widely used barrier membranes were included in this study: Acellular dermal matrix (AlloDerm, LifeCell®), Porcine Peritoneum (BioGide, Geistlich Pharma®), Porcine Pericardium (Jason, Botiss Biomaterials GmbH®), Porcine Cross-linked collagen (Ossix Plus, Datum Dental®) and d-PTFE (Cytoplast TXT, Osteogenics Biomedical®). Blood samples were extracted from 3 different healthy donors and incubated with the different samples of barrier membranes for 24 hours. After the incubation time, serum samples were obtained and analyzed by means of biocompatibility assays taking into account 42 markers. Results: In an early stage of the inflammatory response, the Acellular dermal matrix, porcine peritoneum and porcine cross-linked collagen expressed similar patterns of cytokine expression with a great manifestation of ENA 78. Porcine pericardium and d-PTFE presented similar cytokine activation, especially for MMP-3 and MMP-9, although other cytokines were highlighted with lower expression. For the later immune response, Porcine peritoneum and acellular dermal matrix MCP-1 and IL-15 were evident. Porcine pericardium, porcine cross-linked collagen and d-PTFE presented a high expression of IL-16 and lower manifestation of other cytokines. Different behaviors depending on an earlier or later stage of the inflammation process were observed. Barrier membrane inflammatory expression does not only differ depending on the origin, variables such as treatment of the collagen and polymers may also have a great impact on the cytokine expression of the studied barrier membranes during inflammation. Conclusions: Surface treatment and modifications might affect the biocompatibility of the membranes, as different cytokine expressions were evidently depending on the origin of the biomaterial. This study is only a brushstroke regarding the biocompatibility of materials, as it is one of the pioneer studies for ex vivo barrier membranes assays. Studies regarding surface modification are needed in order to clarify mystifications of barrier membrane science.

Keywords: biomaterials, bone regeneration, biocompatibility, inflammation

Procedia PDF Downloads 140
347 Dynamic Exergy Analysis for the Built Environment: Fixed or Variable Reference State

Authors: Valentina Bonetti

Abstract:

Exergy analysis successfully helps optimizing processes in various sectors. In the built environment, a second-law approach can enhance potential interactions between constructions and their surrounding environment and minimise fossil fuel requirements. Despite the research done in this field in the last decades, practical applications are hard to encounter, and few integrated exergy simulators are available for building designers. Undoubtedly, an obstacle for the diffusion of exergy methods is the strong dependency of results on the definition of its 'reference state', a highly controversial issue. Since exergy is the combination of energy and entropy by means of a reference state (also called "reference environment", or "dead state"), the reference choice is crucial. Compared to other classical applications, buildings present two challenging elements: They operate very near to the reference state, which means that small variations have relevant impacts, and their behaviour is dynamical in nature. Not surprisingly then, the reference state definition for the built environment is still debated, especially in the case of dynamic assessments. Among the several characteristics that need to be defined, a crucial decision for a dynamic analysis is between a fixed reference environment (constant in time) and a variable state, which fluctuations follow the local climate. Even if the latter selection is prevailing in research, and recommended by recent and widely-diffused guidelines, the fixed reference has been analytically demonstrated as the only choice which defines exergy as a proper function of the state in a fluctuating environment. This study investigates the impact of that crucial choice: Fixed or variable reference. The basic element of the building energy chain, the envelope, is chosen as the object of investigation as common to any building analysis. Exergy fluctuations in the building envelope of a case study (a typical house located in a Mediterranean climate) are confronted for each time-step of a significant summer day, when the building behaviour is highly dynamical. Exergy efficiencies and fluxes are not familiar numbers, and thus, the more easy-to-imagine concept of exergy storage is used to summarize the results. Trends obtained with a fixed and a variable reference (outside air) are compared, and their meaning is discussed under the light of the underpinning dynamical energy analysis. As a conclusion, a fixed reference state is considered the best choice for dynamic exergy analysis. Even if the fixed reference is generally only contemplated as a simpler selection, and the variable state is often stated as more accurate without explicit justifications, the analytical considerations supporting the adoption of a fixed reference are confirmed by the usefulness and clarity of interpretation of its results. Further discussion is needed to address the conflict between the evidence supporting a fixed reference state and the wide adoption of a fluctuating one. A more robust theoretical framework, including selection criteria of the reference state for dynamical simulations, could push the development of integrated dynamic tools and thus spread exergy analysis for the built environment across the common practice.

Keywords: exergy, reference state, dynamic, building

Procedia PDF Downloads 206
346 Role of Cryptocurrency in Portfolio Diversification

Authors: Onur Arugaslan, Ajay Samant, Devrim Yaman

Abstract:

Financial advisors and investors seek new assets which could potentially increase portfolio returns and decrease portfolio risk. Cryptocurrencies represent a relatively new asset class which could serve in both these roles. There has been very little research done in the area of the risk/return tradeoff in a portfolio consisting of fixed income assets, stocks, and cryptocurrency. The objective of this study is a rigorous examination of this issue. The data used in the study are the monthly returns on 4-week US Treasury Bills, S&P Investment Grade Corporate Bond Index, Bitcoin and the S&P 500 Stock Index. The methodology used in the study is the application Modern Portfolio Theory to evaluate the risk-adjusted returns of portfolios with varying combinations of these assets, using Sharpe, Treynor and Jensen Indexes, as well as the Sortino and Modigliani measures. The results of the study would include the ranking of various investment portfolios based on their risk/return characteristics. The conclusions of the study would include objective empirical inference for investors who are interested in including cryptocurrency in their asset portfolios but are unsure of the risk/return implications.

Keywords: financial economics, portfolio diversification, fixed income securities, cryptocurrency, stock indexes

Procedia PDF Downloads 45