Search results for: computational finance

Authors: Sarah A. Tobin

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Social justice outcomes, derived from customer satisfaction, serve as a main pathway and conduit for achieving Sustainable Development Goals (SDGs) because they prompt democratizing and socially-inclusive effects that are consistent with Islamic economic values. This paper argues that achieving higher levels of social justice and the SGDs is possible only through the realization of Islamic banking and finance customer satisfaction that aligns with Islamic values in the tradition of the Shari`a (or Islamic law). Through this key manifestation of Shari`a in the banks, social justice aims of achieving SDGs become possible. This paper utilizes a case study of a large-scale survey (N=127) comparing customer satisfaction between a conventional and an Islamic bank in Amman, Jordan. Based on a series of linear regressions, the statistically-significant findings suggest that when overall customer satisfaction is high, customers are more likely to become empowered citizens demanding inclusive, quality services and corruption-free management, as well as attribute their experiences to the Islamic nature of the financial endeavors. Social justice interests and expectations increase (and SDGs are more likely met) when a customer has high levels of satisfaction. The paper concludes with policy recommendations for Islamic financial institutions that enhance customer service experiences for better achieving the social justice aims of the Islamic economy and SDGs, including transparency in transactions, exemplary customer service and follow up, and attending to Islamic values in the aesthetics of bank.

Keywords: customer satisfaction, Islamic economy, social justice, sustainable development goals

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Authors: Jonathan Iworiso

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Forecasting the equity premium out-of-sample is a major concern to researchers in finance and emerging markets. The quest for a superior model that can forecast the equity premium with significant economic gains has resulted in several controversies on the choice of variables and suitable techniques among scholars. This research focuses mainly on the application of Regression Training (RT) techniques to forecast monthly equity premium out-of-sample recursively with an expanding window method. A broad category of sophisticated regression models involving model complexity was employed. The RT models include Ridge, Forward-Backward (FOBA) Ridge, Least Absolute Shrinkage and Selection Operator (LASSO), Relaxed LASSO, Elastic Net, and Least Angle Regression were trained and used to forecast the equity premium out-of-sample. In this study, the empirical investigation of the RT models demonstrates significant evidence of equity premium predictability both statistically and economically relative to the benchmark historical average, delivering significant utility gains. They seek to provide meaningful economic information on mean-variance portfolio investment for investors who are timing the market to earn future gains at minimal risk. Thus, the forecasting models appeared to guarantee an investor in a market setting who optimally reallocates a monthly portfolio between equities and risk-free treasury bills using equity premium forecasts at minimal risk.

Keywords: regression training, out-of-sample forecasts, expanding window, statistical predictability, economic significance, utility gains

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Authors: Wafa Ghonaim

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Though quite fast on growth, Islamic financing at large, and its diverse instruments, is a controversial matter among scholars. This is evident from the ongoing debates on its Shariah compliance. Arguments, however, are inciting doubts and concerns among clients about its credibility, which is harming this lucrative sector. The work here investigates, particularly, some issues related to the Tawarruq instrument. The work examines the issues of linking Murabaha and Wakala contracts, the reselling of commodities to same traders, and the transfer of ownerships. The work affirms that a multi-agent smart electronic market design would facilitate Shariah compliance. The smart market exploits the rational decision-making capabilities of autonomous proxy agents that enable the clients, traders, brokers, and the bank buy and sell commodities, and manage transactions and cash flow. The smart electronic market design delivers desirable qualities that terminate the need for Wakala contracts and the reselling of commodities to the same traders. It also resolves the ownership transfer issues by allowing stakeholders to trade independently. The bank administers the smart electronic market and assures reliability of trades, transactions and cash flow. A multi-agent simulation is presented to validate the concept and processes. We anticipate that the multi-agent smart electronic market design would deliver Shariah compliance of personal financing to the aspiration of scholars, banks, traders and potential clients.

Keywords: Islamic finance, share'ah compliance, smart electronic markets design, multiagent systems

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Authors: Zachary Cooper-Baldock, Paulo E. Santos, Russell S. A. Brinkworth, Karl Sammut

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- In recent years, large unmanned underwater vehicles such as the Boeing Voyager and Anduril Ghost Shark have been developed. These vessels can be structured to contain onboard internal payload bays. These payload bays can serve a variety of purposes – including the launch and recovery (LAR) of smaller underwater vehicles. The LAR of smaller vessels is extremely important, as it enables transportation over greater distances, increased time on station, data transmission and operational safety. The larger vessel and its payload bay structure complicate the LAR of UUVs in contrast to static docks that are affixed to the seafloor, as they actively impact the local flow field. These flow field impacts require analysis to determine if UUV vessels can be safely launched and recovered inside the motherships. This research seeks to determine the hydrodynamic forces exerted on a vertically over-actuated, small, unmanned underwater vehicle (OUUV) during an internal LAR manoeuvre and compare this to an under-actuated vessel (UUUV). In this manoeuvre, the OUUV is navigated through the stern wake region of the larger vessel to a set point within the internal payload bay. The manoeuvre is simulated using ANSYS Fluent computational fluid dynamics models, covering the entire recovery of the OUUV and UUUV. The analysis of the OUUV is compared against the UUUV to determine the differences in the exerted forces. Of particular interest are the drag, pressure, turbulence and flow field effects exerted as the OUUV is driven inside the payload bay of the larger vessel. The hydrodynamic forces and flow field disturbances are used to determine the feasibility of making such an approach. From the simulations, it was determined that there was no significant detrimental physical forces, particularly with regard to turbulence. The flow field effects exerted by the OUUV are significant. The vertical thrusters exert significant wake structures, but their orientation ensures the wake effects are exerted below the UUV, minimising the impact. It was also seen that OUUV experiences higher drag forces compared to the UUUV, which will correlate to an increased energy expenditure. This investigation found no key indicators that recovery via a mothership payload bay was not feasible. The turbulence, drag and pressure phenomenon were of a similar magnitude to existing static and towed dock structures.

Keywords: underwater vehicles, submarine, autonomous underwater vehicles, auv, computational fluid dynamics, flow fields, pressure, turbulence, drag

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Authors: Jialin Wu, Zhiwei Lian, Jieyu Tang, Jingyun Shen

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Tornado is a serious and unpredictable natural disaster, which has an important impact on people's production and life. The probability of being hit by tornadoes in China was analyzed considering the principles of tornado formation. Then some suggestions on layout and shapes for newly-built buildings were provided combined with the characteristics of tornado wind fields. Fuzzy clustering and inverse closeness methods were used to evaluate the probability levels of tornado risks in various provinces based on classification and ranking. GIS was adopted to display the results. Finally, wind field single-vortex tornado was studied to discuss the optimized design of rural low-rise houses in Yancheng, Jiangsu as an example. This paper may provide enough data to support building and urban design in some specific regions.

Keywords: tornado probability, computational fluid dynamics, fuzzy mathematics, optimal design

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Authors: Carlson Murray, Ali Lazrak

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Robust experimental evidence of systematic violations of expected utility (EU) establishes that individuals facing risk overweight utility from low probability gains and losses when making choices. These findings motivated development of models of preferences with probability weighting functions, such as rank dependent utility (RDU). We solve for the optimal investing strategy of an RDU investor in a dynamic binomial setting from which we derive implications for investing behavior. We show that relative to EU investors with constant relative risk aversion, commonly measured probability weighting functions produce optimal RDU terminal wealth with significant downside protection and upside exposure. We additionally find that in contrast to EU investors, RDU investors optimally choose a portfolio that contains fair bets that provide payo↵s that can be interpreted as lottery outcomes or exposure to idiosyncratic returns. In a calibrated version of the model, we calculate that RDU investors would be willing to pay 5% of their initial wealth for the freedom to trade away from an optimal EU wealth allocation. The dynamic trading strategy that supports the optimal wealth allocation implies portfolio weights that are independent of initial wealth but requires higher risky share after good stock return histories. Optimal trading also implies the possibility of non-participation when historical returns are poor. Our model fills a gap in the literature by providing new quantitative and qualitative predictions that can be tested experimentally or using data on household wealth and portfolio choice.

Keywords: behavioral finance, probability weighting, portfolio choice

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Authors: Mohammad Asadpour, Maryam Sadeghi, Mahmoud Jafari

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The transformation of carbon dioxide into fuels and commodity chemicals is considered one of the most attractive methods to meet energy demands and reduce atmospheric CO₂ levels. Cobalt complexes have previously shown high faradaic efficiency in the reduction of CO₂ to CO. In this study, a nanostructure, referred to as a porphyrin-like buckyball, is simulated and analyzed for its electrical properties. The investigation aims to understand the unique characteristics of this material and its potential applications in electronic devices. Through computational simulations and analysis, the electrocatalytic reduction of CO₂ to CO by Cobalt-porphyrin-like buckyball is explored. The findings of this study offer valuable insights into the electrocatalytic properties of this predicted structure, paving the way for further research and development in the field of nanotechnology.

Keywords: porphyrin-like buckyball, DFT, nanomaterials, CO₂ to CO

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Authors: Pratik Gandhi, Kavitha Chandra, Charles Thompson

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A computational model of the acoustic room impulse response between transmitters and receivers located in an enclosed cavity under the influence of frequency-dependent reflection coefficients of the walls is presented. The characteristic features of the impulse responses that differentiate these results from frequency-independent reflecting surfaces are discussed. The image-source model is derived from the first principle solution to Green's function of the acoustic wave equation. The post-processing of the computed impulse response with a band-pass filter to better represents the response of a loud-speaker is demonstrated.

Keywords: acoustic room impulse response, frequency dependent reflection coefficients, Green's function, image model

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Authors: Bryan Crompton, Daniel Giger, Tanay Mehta, Apurva Mody

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The task of classifying radio frequency (RF) signals has seen recent success in employing deep neural network models. In this work, we present a combined signal processing and machine learning approach to signal classification for cochannel anomalous signals. The power spectral density and cyclostationary signal processing features of a captured signal are computed and fed into a neural net to produce a classification decision. Our combined signal preprocessing and machine learning approach allows for simpler neural networks with fast training times and small computational resource requirements for inference with longer preprocessing time.

Keywords: signal processing, machine learning, cyclostationary signal processing, signal classification

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Authors: Jun-ichi Ochiai, Itsuki Noda, Ryo Kanamori, Keiji Hirata, Hitoshi Matsubara, Hideyuki Nakashima

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We conducted exhaustive simulations for data assimilation and evaluation of service quality for various setting in a new shared transportation system, called SAVS. Computational social simulation is a key technology to design recent social services like SAVS as new transportation service. One open issue in SAVS was to determine the service scale through the social simulation. Using our exhaustive simulation framework, OACIS, we did data-assimilation and evaluation of effects of SAVS based on actual tax-use data at Tajimi city, Japan. Finally, we get the conditions to realize the new service in a reasonable service quality.

Keywords: on-demand bus sytem, social simulation, data assimilation, exhaustive simulation

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Authors: Naci Kalkan, Ihsan Dagtekin

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This research presents the design and analysis of solar air-conditioning systems particularly solar chimney which is a passive strategy for natural ventilation, and demonstrates the structures of these systems’ using Computational Fluid Dynamic (CFD) and finally compares the results with several examples, which have been studied experimentally and carried out previously. In order to improve the performance of solar chimney system, highly efficient sub-system components are considered for the design. The general purpose of the research is to understand how efficiently solar chimney systems generate cooling, and is to improve the efficient of such systems for integration with existing and future domestic buildings.

Keywords: active and passive solar technologies, solar cooling system, solar chimney, natural ventilation, cavity depth, CFD models for solar chimney

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Authors: Muhammad Naweed, Usman Tariq Murtaza, Waseem Siddique

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A pallet body approach is a finite element-based computational approach used for the modeling and assessment of a three-dimensional surface crack. The approach is capable of inserting the crack in an engineering structure and generating high-quality hexahedral mesh in the cracked region of the structure. The approach is capable of computing the stress intensity factors along a semi-elliptical surface crack numerically. The objective of this work is to present that the stress intensity factors produced by the approach can be used with confidence for capturing the parameters during the fatigue crack growth.

Keywords: pallet body approach, semi-elliptical surface crack, stress intensity factors, fatigue crack growth

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Authors: Andrew Kurochkin, Kostiantyn Bokhan

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In this study, a new meme dataset of ~650K meme instances was created, a technology of meme generation based on the state of the art deep learning technique - GPT-2 model was researched, a comparative analysis of machine-generated memes and human-created was conducted. We justified that Amazon Mechanical Turk workers can be used for the approximate estimating of users' behavior in a social network, more precisely to measure engagement. It was shown that generated memes cause the same engagement as human memes that produced low engagement in the social network (historically). Thus, generated memes are less engaging than random memes created by humans.

Keywords: content generation, computational social science, memes generation, Reddit, social networks, social media interaction

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Authors: Innocent Uzougbo Onwuegbuzie, Siene Elizabeth Eke

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This study investigates cybersecurity challenges and solutions in managing Information and Communication Technology (ICT) at the Federal Polytechnic, Ado-Ekiti, South-West Nigeria. The rapid evolution of ICT has revolutionized organizational operations and impacted various sectors, including education, healthcare, and finance. While ICT advancements facilitate seamless communication, complex data analytics, and strategic decision-making, they also introduce significant cybersecurity risks such as data breaches, ransomware, and other malicious attacks. These threats jeopardize the confidentiality, integrity, and availability of information systems, necessitating robust cybersecurity measures. The primary aim of this research is to identify prevalent cybersecurity challenges in ICT management, evaluate their impact on the institution's operations, and assess the effectiveness of current cybersecurity solutions. Adopting a quantitative research approach, data was collected through surveys and structured questionnaires from students, staff, and IT professionals at the Federal Polytechnic, Ado-Ekiti. The findings underscore the critical need for continuous investment in cybersecurity technologies, employee and student training, and regulatory compliance to mitigate evolving cyber threats. This research contributes to bridging the knowledge gap in cybersecurity management and provides valuable insights into effective strategies and technologies for safeguarding ICT systems in educational institutions. The study's objectives are to enhance the security posture of the Federal Polytechnic, Ado-Ekiti, in an increasingly digital world by identifying and addressing the cybersecurity challenges faced by its ICT management.

Keywords: cybersecurity challenges, cyber threat mitigation, federal polytechnic Ado-Ekiti, ICT management

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Authors: Te-Jen Chang, I-Hui Pan, Ping-Sheng Huang, Shan-Jen Cheng

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In this paper, a fast multiplication computing method utilizing the complement representation method and canonical recoding technique is proposed. By performing complements and canonical recoding technique, the number of partial products can be reduced. Based on these techniques, we propose an algorithm that provides an efficient multiplication method. On average, our proposed algorithm is to reduce the number of k-bit additions from (0.25k+logk/k+2.5) to (k/6 +logk/k+2.5), where k is the bit-length of the multiplicand A and multiplier B. We can therefore efficiently speed up the overall performance of the multiplication. Moreover, if we use the new proposes to compute common-multiplicand multiplication, the computational complexity can be reduced from (0.5 k+2 logk/k+5) to (k/3+2 logk/k+5) k-bit additions.

Keywords: algorithm design, complexity analysis, canonical recoding, public key cryptography, common-multiplicand multiplication

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Authors: Z. Aziz, S. Terkhi, Y. Sefir, R. Djelti, S. Bentata

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The effect of a uniform electric field across multi-barrier systems (InAs/InxGa1-xAs) is exhaustively explored by a computational model using exact Airy function formalism and the transfer-matrix technique. In the case of biased DFHBSL structure a strong reduction in transmission properties was observed and the width of the mini-band structure linearly decreases with the increase of the applied bias. This is due to the confinement of the states in the mini-band structure, which becomes increasingly important (Wannier-Stark Effect).

Keywords: dimer fibonacci height barrier superlattices, singular extended state, exact Airy function and transfer matrix formalism, bioinformatics

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Authors: Aziz Zoubir, Sefir Yamina, Djelti Redouan, Bentata Samir

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The effect of a uniform electric field across multibarrier systems (GaAs/AlxGa1-xAs) is exhaustively explored by a computational model using exact Airy function formalism and the transfer-matrix technique. In the case of biased Dimer Fibonacci Height Barrier superlattices (DFHBSL) structure a strong reduction in transmission properties was observed and the width of the miniband structure linearly decreases with the increase of the applied bias. This is due to the confinement of the states in the miniband structure, which becomes increasingly important (Wannier-Stark effect).

Keywords: Dimer Fibonacci Height Barrier superlattices, singular extended states, exact Airy function, transfer matrix formalism

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Authors: Jutta Hämmerle-Uhl, Georg Penn, Gerhard Pötzelsberger, Andreas Uhl

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Iris codes contain bits with different entropy. This work investigates different strategies to reduce the size of iris code templates with the aim of reducing storage requirements and computational demand in the matching process. Besides simple sub-sampling schemes, also a binary multi-resolution representation as used in the JBIG hierarchical coding mode is assessed. We find that iris code template size can be reduced significantly while maintaining recognition accuracy. Besides, we propose a two stage identification approach, using small-sized iris code templates in a pre-selection satge, and full resolution templates for final identification, which shows promising recognition behaviour.

Keywords: iris recognition, compact iris code, fast matching, best bits, pre-selection identification, two-stage identification

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Authors: Amin Jamili

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Nowadays, the majority of international trade in goods is carried by sea, and especially by ships deployed in the industrial and tramp segments. This paper addresses routing the tramp ships and determining the schedules including the arrival times to the ports, berthing times at the ports, and the departure times in an operational planning level. In the operational planning level, the weather can be almost exactly forecasted, however in some routes some uncertainties may remain. In this paper, the voyaging times between some of the ports are considered to be uncertain. To that end, a two-stage stochastic mathematical model is proposed. Moreover, a case study is tested with the presented model. The computational results show that this mathematical model is promising and can represent acceptable solutions.

Keywords: routing, scheduling, tram ships, two stage stochastic model, uncertainty

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Authors: Monsuru Oyenola Popoola, Oladapo Samson Abiola, Wusamotu Alao Adeniji

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The prevalent and incessant abandonment of road construction projects are alarming that it creates several negative effects to social, economic and environmental values of the project. The purpose of this paper is to investigate and determined the various causes and effects of abandoning road construction projects in Nigeria. Likert Scale questionnaire design was used to administered and analysed the data obtained for the stydy. 135 (Nr) questionnaires were completed and retrieved from the respondents, out of 200 (Nr) questionnaires sent out, representing a response rate of 67.5%. The analysis utilized the Relative Importance Index (R.I.I.) method and the results are presented in tabular form. The findings confirms that at least 20 factors were the causes of road projects abandonment in Nigeria with most including Leadership Instability, Improper Project Planning, Inconsistence in government policies and Design, Contractor Incompetence, Economy Instability and Inflation, Delay in remittance of money, Improper financial analysis, Poor risk management, Climatic Conditions, Improper Project Estimates etc. The findings also show that at least eight (8) effect were identified on the system, and these include; Waste of Financial Resources, Loss of economic value, Environmental degradation, Loss of economic value, Reduction in standard of living, Litigation and Arbitration, etc. The reflection is that allocating reasonable finance, developing appropriate and effective implementation plans and monitoring, evaluation and reporting on development project activities by key actors should enhance in resolving the problem of road projects abandonment.

Keywords: road construction, abandonment of road projects, climatic condition, project planning, contractor

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Authors: Raheel Asif, Michael Frommel

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This paper focuses on analyzing the exchange rate exposure of exporting & domestic firms in (the so far rarely addressed) largest Eastern European transition economies, i.e., Russia and the three EU accession countries, Poland, Hungary, and Czech Republic (CEEC-3). It also controls for possible effects of different exchange rate regimes, Great Financial crisis (2007-08), Russian Financial crisis (2014-15), the formation of EU & turn of year effect. Substantially improving the results from the existing literature on these transition economies, we find for more than 51% of our sample firms in CEEC-3 countries and 29% in Russia shows a significant exchange rate exposure. However, the magnitude and direction of firms’ exposure depends on the particular bilateral exchange rate and differs between CEEC-3 and Russia. We find that share price increases with an appreciation of the domestic currency against the EURO and US Dollar (USD) in CEEC-3; however, the effect is more pronounced for EURO as expected. Whereas, for Russian firms share price increases with a depreciation of the domestic currency against the USD only. Those differences may result from a differing dominance of exposure channels in the respective economies, such as the country-specific export structure, competitiveness channels, and dependence on foreign debt. Finally, the switch from a pegged to a flexible exchange rate regime appears to have a less pronounced effect for the exchange rate exposure of firms in all countries except for USD in Poland and Russia.

Keywords: exchange rate exposure, transition economies, central and eastern Europe, international finance

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Authors: Chansiri Singhtaun

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This paper proposes a mathematical model and examines the performance of an exact algorithm for a location–transportation problems in humanitarian relief. The model determines the number and location of distribution centers in a relief network, the amount of relief supplies to be stocked at each distribution center and the vehicles to take the supplies to meet the needs of disaster victims under capacity restriction, transportation and budgetary constraints. The computational experiments are conducted on the various sizes of problems that are generated. Branch and bound algorithm is applied for these problems. The results show that this algorithm can solve problem sizes of up to three candidate locations with five demand points and one candidate location with up to twenty demand points without premature termination.

Keywords: disaster response, facility location, humanitarian relief, transportation

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Authors: Debabrata Adhikari, Mikhail Matveev, Louise Brown, Andy Long, Jan Kočí

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A good understanding of mesoscale permeability of complex architectures in fibrous porous preforms is of particular interest in order to achieve efficient and cost-effective resin impregnation of liquid composite molding (LCM). Fabrics used in structural reinforcements are typically woven or stitched. However, 3D fabric reinforcement is of particular interest because of the versatility in the weaving pattern with the binder yarn and in-plain yarn arrangements to manufacture thick composite parts, overcome the limitation in delamination, improve toughness etc. To predict the permeability based on the available pore spaces between the inter yarn spaces, unit cell-based computational fluid dynamics models have been using the Stokes Darcy model. Typically, the preform consists of an arrangement of yarns with spacing in the order of mm, wherein each yarn consists of thousands of filaments with spacing in the order of μm. The fluid flow during infusion exchanges the mass between the intra and inter yarn channels, meaning there is no dead-end of flow between the mesopore in the inter yarn space and the micropore in the yarn. Several studies have employed the Brinkman equation to take into account the flow through dual-scale porosity reinforcement to estimate their permeability. Furthermore, to reduce the computational effort of dual scale flow, scale separation criteria based on the ratio between yarn permeability to the yarn spacing was also proposed to quantify the dual scale and negligible micro-scale flow regime for the prediction of mesoscale permeability. In the present work, the key parameter to identify the influence of intra yarn permeability on the mesoscale permeability has been investigated with the systematic study of weft and warp yarn spacing on the plane weave as well as the position of binder yarn and number of in-plane yarn layers on 3D weave fabric. The permeability tensor has been estimated using an OpenFOAM-based model for the various weave pattern with idealized geometry of yarn implemented using open-source software TexGen. Additionally, scale separation criterion has been established based on the various configuration of yarn permeability for the 3D fabric with both the isotropic and anisotropic yarn from Gebart’s model. It was observed that the variation of mesoscale permeability Kxx within 30% when the isotropic porous yarn is considered for a 3D fabric with binder yarn. Furthermore, the permeability model developed in this study will be used for multi-objective optimizations of the preform mesoscale geometry in terms of yarn spacing, binder pattern, and a number of layers with an aim to obtain improved permeability and reduced void content during the LCM process.

Keywords: permeability, 3D fabric, dual-scale flow, liquid composite molding

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Authors: Shadi Janbabaei, Hossein Gharaee Garakani, Naser Mohammadzadeh

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Internet of things is a new concept that its emergence has caused ubiquity of sensors in human life, so that at any time, all data are collected, processed and transmitted by these sensors. In order to establish a secure connection, the first challenge is authentication between sensors. However, this challenge also requires some features so that the authentication is done properly. Anonymity, untraceability, and being lightweight are among the issues that need to be considered. In this paper, we have evaluated the authentication protocols and have analyzed the security vulnerabilities found in them. Then an improved light weight authentication protocol for sensor-to-sensor communications is presented which uses the hash function and logical operators. The analysis of protocol shows that security requirements have been met and the protocol is resistant against various attacks. In the end, by decreasing the number of computational cost functions, it is argued that the protocol is lighter than before.

Keywords: anonymity, authentication, Internet of Things, lightweight, un-traceability

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Authors: Ali Reza Tahavvor, Saeed Hosseini, Nazli Jowkar, Behnam Amiri

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Heat transfer of leaves is a crucial factor in optimal operation of metabolic functions in plants. In order to quantify this phenomenon in different leaves and investigate the influence of leaf shape on heat transfer, natural convection for pine, orange and olive leaves was simulated as representatives of different groups of leaf shapes. CFD techniques were used in this simulation with the purpose to calculate heat transfer of leaves in similar environmental conditions. The problem was simulated for steady state and three-dimensional conditions. From obtained results, it was concluded that heat fluxes of all three different leaves are almost identical, however, total rate of heat transfer have highest and lowest values for orange leaves and pine leaves, respectively.

Keywords: computational fluid dynamic, heat flux, heat transfer, natural convection

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Authors: H. Aminfar, M. Mohammadpourfard, K. Khajeh

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This paper has focused on the most important parameters in the LSC uptake; inlet Re number and Sc number in the presence of non-uniform magnetic field. The magnetic field is arising from the thin wire with electric current placed vertically to the arterial blood vessel. According to the results of this study, applying magnetic field can be a treatment for atherosclerosis by reducing LSC along the vessel wall. Homogeneous porous layer as a arterial wall has been regarded. Blood flow has been considered laminar and incompressible containing Ferro fluid (blood and 4 % vol. Fe₃O₄) under steady state conditions. Numerical solution of governing equations was obtained by using the single-phase model and control volume technique for flow field.

Keywords: LDL surface concentration (LSC), magnetic field, computational fluid dynamics, porous wall

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Authors: Ahmed Stifi, Sascha Gentes, Fritz Gehbauer

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The construction industry is perhaps one of the oldest industry of the world. The ancient monuments like the egyptian pyramids, the temples of Greeks and Romans like Parthenon and Pantheon, the robust bridges, old Roman theatres, the citadels and many more are the best testament to that. The industry also has a symbiotic relationship with other . Some of the heavy engineering industry provide construction machineries, chemical industry develop innovative construction materials, finance sector provides fund solutions for complex construction projects and many more. Construction Industry is not only mammoth but also very complex in nature. Because of the complexity, construction industry is prone to various tribulations which may have the propensity to hamper its growth. The comparitive study of this industry with other depicts that it is associated with a state of tardiness and delay especially when we focus on the managerial aspects and the study of triple constraint (time, cost and scope). While some institutes says the complexity associated with it as a major reason, others like lean construction, refers to the wastes produced across the construction process as the prime reason. This paper introduces corruption as one of the prime factors for such delays.To support this many international reports and studies are available depicting that construction industry is one of the most corrupt sectors worldwide, and the corruption can take place throught the project cycle comprising project selection, planning, design, funding, pre-qualification, tendering, execution, operation and maintenance, and even through the reconstrction phase. It also happens in many forms such as bribe, fraud, extortion, collusion, embezzlement and conflict of interest and the self-sufficient. As a solution to cope the corruption in construction industry, the paper introduces the integrity as a key factor and build a new integrity framework to develop and implement an integrity management system for construction companies and construction projects.

Keywords: corruption, construction industry, integrity, lean construction

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Authors: Hiroshi Yamaguchi, Phillip C. Y. Sheu, Ryo Fujita, Shigeo Tsujii

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In this paper, the secure BioSemantic Scheme is presented to bridge biological/biomedical research problems and computational solutions via semantic computing. Due to the diversity of problems in various research fields, the semantic capability description language (SCDL) plays and important role as a common language and generic form for problem formalization. SCDL is expected the essential for future semantic and logical computing in Biosemantic field. We show several example to Biomedical problems in this paper. Moreover, in the coming age of cloud computing, the security problem is considered to be crucial issue and we presented a practical scheme to cope with this problem.

Keywords: biomedical applications, private information retrieval (PIR), semantic capability description language (SCDL), semantic computing

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Authors: Khalid Bashir, Hammad Zahid

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Most of the investors consider that economic and financial information is the most important at the time of making investment decisions. But it is not true, as in the past two decades, the Behavioral aspects and the behavioral biases have gained an important place in the decision-making process of an investor. This study is basically conducted on this fact. The purpose of this study is to examine the impact of behavioral factors on the decision-making of the individual real estate investor in Pakistan. Some important behavioral factors like overconfidence, anchoring, gambler’s fallacy, home bias, loss aversion, regret aversion, mental accounting, herding and representativeness are used in this study to find their impact on the psychology of individual investors. The targeted population is the real estate investor of Pakistan, and a sample of 650 investors is selected on the basis of convenience sampling technique. The data is collected through the questionnaire with a response rate of 46.15 %. Descriptive statistical techniques and SEM are used to analyze the data by using statistical software. The results revealed the fact that some behavioral factors have a significant impact on the decision-making of investors. Among all the behavioral biases, overconfidence, anchoring, gambler’s fallacy, loss aversion and representativeness have a significant positive impact on the decision-making of the individual investor, while the rest of biases like home bias, regret aversion, mental accounting, herding have less impact on the decision-making process of an individual.

Keywords: behavioral finance, anchoring, gambler’s fallacy, loss aversion

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Authors: Ali Allahverdi, Harun Aydilek, Asiye Aydilek

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Minimizing the number of tardy jobs is an important factor to consider while making scheduling decisions. This is because on-time shipments are vital for lowering cost and increasing customers’ satisfaction. This paper addresses the single machine scheduling problem with the objective of minimizing the number of tardy jobs. The only known information is the lower and upper bounds for processing times, and deterministic job due dates. A dominance relation is established, and an algorithm is proposed. Several heuristics are generated from the proposed algorithm. Computational analysis indicates that the performance of one of the heuristics is very close to the optimal solution, i.e., on average, less than 1.5 % from the optimal solution.

Keywords: single machine scheduling, number of tardy jobs, heuristi, lower and upper bounds

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