Search results for: option price valuation formula

Authors: Silas A. Ihedioha

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In this work; it is considered that an investor’s portfolio is comprised of two assets; a risky stock which price process is driven by the geometric Brownian motion and a risk-free asset with Ornstein-Uhlenbeck Stochastic interest rate of return, where consumption, taxes, transaction costs and dividends are involved. This paper aimed at the optimization of the investor’s expected utility of consumption and terminal return on his investment at the terminal time having power utility preference. Using dynamic optimization procedure of maximum principle, a second order nonlinear partial differential equation (PDE) (the Hamilton-Jacobi-Bellman equation HJB) was obtained from which an ordinary differential equation (ODE) obtained via elimination of variables. The solution to the ODE gave the closed form solution of the investor’s problem. It was found the optimal investment in the risky asset is horizon dependent and a ratio of the total amount available for investment and the relative risk aversion coefficient.

Keywords: optimal, investment, Ornstein-Uhlenbeck, utility maximization, stochastic interest rate, maximum principle

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Authors: Dehong Li, Yuchen Chen, Alireza Kaboorani, Denis Rodrigue, Xiaodong (Alice) Wang

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Utilizing solar energy for thermal energy storage has emerged as an appealing option for lowering the amount of energy that is consumed by buildings. Due to their high heat storage density, and non-corrosive and non-polluting properties, alcohols can be a good alternative to petroleum-derived paraffin phase change materials (PCMs). In this paper, ternary eutectic PCMs with suitable phase change temperatures were designed and prepared using lauryl alcohol (LA), cetyl alcohol (CA), stearyl alcohol (SA), and xylitol (X). The differential scanning calorimetry (DSC) results revealed that the phase change temperatures of LA-CA-SA, LA-CA-X, and LA-SA-X were 20.52°C, 20.37°C, and 22.18°C, respectively. The latent heat of phase change of the ternary eutectic PCMs was all stronger than that of the paraffinic PCMs at roughly the same temperature. The highest latent heat was 195 J/g. It had good thermal energy storage capacity. The preparation mechanism was investigated using Fourier-transform Infrared Spectroscopy (FTIR), and it was found that the ternary eutectic PCMs were only physically mixed among the components. Ternary eutectic PCMs had a simple preparation process, suitable phase change temperature, and high energy storage density. They are suitable for low-temperature architectural packaging applications.

Keywords: thermal energy storage, buildings, phase change materials, alcohols

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Authors: Zhang Pinliang, Chen Chuan, Song Guangming, Wu Qiang, Gong Zizheng, Li Ming

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The active removal of space debris and asteroid defense are important issues in human space activities. Both of them need a detumbling process, for almost all space debris and asteroid are in a rotating state, and it`s hard and dangerous to capture or remove a target with a relatively high tumbling rate. So it`s necessary to find a method to reduce the angular rate first. The laser ablation method is an efficient way to tackle this detumbling problem, for it`s a contactless technique and can work at a safe distance. In existing research, a laser rotational control strategy based on the estimation of the instantaneous angular velocity of the target has been presented. But their calculation of control torque produced by a laser, which is very important in detumbling operation, is not accurate enough, for the method they used is only suitable for the plane or regularly shaped target, and they did not consider the influence of irregular shape and the size of the spot. In this paper, based on the triangulation reconstruction of the target surface, we propose a new method to calculate the impulse of the irregularly shaped target under both the covered irradiation and spot irradiation of the laser and verify its accuracy by theoretical formula calculation and impulse measurement experiment. Then we use it to study the process of detumbling cylinder and asteroid by laser. The result shows that the new method is universally practical and has high precision; it will take more than 13.9 hours to stop the rotation of Bennu with 1E+05kJ laser pulse energy; the speed of the detumbling process depends on the distance between the spot and the centroid of the target, which can be found an optimal value in every particular case.

Keywords: detumbling, laser ablation drive, space target, space debris remove

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Authors: Wen-Hsiang Lai, Mei-Wen Chen

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In the face of developing new technologies, identifying potential new technological product and the suitable market is important. Since laser technology is widely applied in many industries, this study explores the technology commercialization of laser technology. According to the literature review and industry analysis, this study discusses the factors influencing the consumer’s purchase intention and tries to find a new market direction to develop the laser technology. This study adopts a new product adoption model as the research framework and uses three variables of ‘Consumer characteristics’, ‘Perception of product attributes’ and ‘External environment’ to discuss the purchase intention of consumers, who are physicians and owners of the medical cosmetics. This study finds that in the major variable of ‘Consumer characteristics’, the sub-variables of ‘Personality’, ‘Knowledge of product’, ‘Perceived risk’ and ‘Motivation’ are significantly related to consumer’s purchase intention. In the major variable of ‘Perception of product attributes’, the sub-variables of ‘Brand’ and ‘Measure of manufacture country’ are the key factors that affect the willingness of consumer’s purchase intention. Finally, in the major variable of ‘External environment’ variable, the sub-variables of ‘Time’ and ‘Price’ have significant impact on consumer’s purchase intention.

Keywords: technology commercialization, new product adoption, consumer’s purchase intention, laser technology

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Authors: Hana Janáčková

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Housing can be sorted as basic needs of households. Purchase of acceptable ownership housing is important investments for most them. For rental housing households must consider the part of rent expenditure paid in the total household income. For this reason, financial considerations of households in this area depend on the government innervations (public administration) in housing - on housing policy. Market system of housing allocation, whether ownership or tenancy, is based on the fact that housing is a scarce good. The allocation of housing is based on demand and supply. The market system of housing can sometimes have a negative impact on some households, the market is unable to satisfy certain groups of the population that are not able or willing to accept market price. For these reasons, there is a more or less regulation of the market. Regulation is both on the demand and supply side, and the state determines the rules of behaviour for all economic entities of the housing market. This article submits results of analysis of selected regulatory interference of the state in the housing market and assesses their implications deforming the market in the selected region of the Czech Republic. The first part describes tools of supports and the second part discusses deformations and analyses their consequences on the demand side of housing market and on supply side.

Keywords: housing, housing market, microeconomic consequences, deformation

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Authors: Khushboo Bhavsar, Nisha K. Shah, Neha Parekh

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The status of wastewater treatment needs a novel and quick method for treating the wastewater containing ammoniacal nitrogen. Adsorption behavior of ammoniacal nitrogen from wastewater using the nanoparticles loaded coconut coir was investigated in the present work. Manganese Oxide (MnO2) and Zinc Oxide (ZnO) nanoparticles were prepared and used for the further adsorption study. Manganese nanoparticles loaded coconut coir (MNLCC) and Zinc nanoparticles loaded coconut coir (ZNLCC) were prepared via a simple method and was fully characterized. The properties of both MNLCC and ZNLCC were characterized by Scanning electron microscopy, Fourier Transform Infrared Spectroscopy and X-ray diffraction. Adsorption characteristics were studied using batch technique considering various parameters like pH, adsorbent dosage, time, temperature and agitation time. The NH3-N adsorption process for MNLCC and ZNLCC was thoroughly studied from both kinetic and equilibrium isotherm view-points. The results indicated that the adsorption efficiency of ZNLCC was better when compared to MNLCC. The adsorption kinetics at different experimental conditions showed that second order kinetic model best fits ensuring the monovalent binding sites existing in the present experimental system. The outcome of the entire study suggests that the ZNLCC can be a smart option for the treatment of the ammoniacal nitrogen containing wastewater.

Keywords: ammoniacal nitrogen, MnO2, Nanoparticles, ZnO

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Authors: Fu Jinyu, Lin Jinguan

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This paper introduces a novel approach that unifies two types of models: one is the continuous-time jump-diffusion used to model high-frequency data, and the other is discrete-time GQARCH employed to model low-frequency financial data by embedding the discrete GQARCH structure with jumps in the instantaneous volatility process. This model is named “GQARCH-It\^{o} -Jumps mode.” We adopt the realized range-based threshold estimation for high-frequency financial data rather than the realized return-based volatility estimators, which entail the loss of intra-day information of the price movement. Meanwhile, a quasi-likelihood function for the low-frequency GQARCH structure with jumps is developed for the parametric estimate. The asymptotic theories are mainly established for the proposed estimators in the case of finite activity jumps. Moreover, simulation studies are implemented to check the finite sample performance of the proposed methodology. Specifically, it is demonstrated that how our proposed approaches can be practically used on some financial data.

Keywords: It\^{o} process, GQARCH, leverage effects, threshold, realized range-based volatility estimator, quasi-maximum likelihood estimate

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Authors: Jamaa Salih, Francis Edum-Fotwe, Andrew Price

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One of the most critical aspects of the management of road infrastructure is the type and scale of maintenance systems adopted and the consequences of their inadequacy. The performance of road maintenance systems can be assessed by a number of important indicators such as: cost, safety, environmental impact, and level of complaints by users. A review of practice reveals that insufficient level of expenditure or poor management of the road network often has serious consequences for the economic and social life of a country in terms of vehicle operating costs (VOC), travel time costs, accident costs and environmental impact. Despite an increase in the attention paid by global road agencies to the environmental and the road users’ satisfaction, the overwhelming evidence from the available literature agree on the lack of similar levels of attention for the two factors in many developing countries. While many sources agree that the road maintenance backlog is caused by either the shortage of expenditures or lack of proper management or both, it appears that managing the available assets particularly in the developing countries is the main issue. To address this subject, this paper will concentrate on exposing the various issues related to this field.

Keywords: environmental impact, performance indicators, road maintenance, users’ satisfaction

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Authors: Prachi Abhishek Dave, Abhishek Dave

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Purpose: The purpose of this study is to elucidate the role of intravitreal injection Aflibercept in managing complex cases of Wet Age Related Macular Degeneration (ARMD) and the gratifying visual recovery experienced with a minimally invasive procedure. Methods: A 73-year-old gentleman presented with a drop in vision in the left eye for 25 days. On examination, his best corrected visual acuity (BCVA) in the Right eye (OD) was 6/60, and finger counting close to face in the Left eye (OS). On multimodal imaging, he was diagnosed to have a scarred Wet ARMD in OD and an active Wet ARMD with a large subretinal bleed secondary to Wet ARMD in OS. Treatment management options included monotherapy with an Injection Aflibercept or an intravitreal gas injection with tPA followed by Injection Aflibercept. Considering his one-eyed status, the patient decided to go for Aflibercept monotherapy. Results: After 3 monthly injections of injection Aflibercept, the subretinal bleed reduced, the subretinal fluid resolved, and his vision in OS improved to 6/9. He is on a regular follow-up and has not needed any further injections in OS and he maintains 6/9 vision. Conclusions: Conventional treatment guidelines for a large subretinal bleed dictate the use of gas followed by intravitreal Injection Aflibercept. However, gas has its own limitations of causing a rise in intraocular pressure and a transient loss of vision, which is particularly troublesome in one-eyed patients. Injection Aflibercept offers a much safer, less invasive, and elegant treatment option for such patients with equally good or even better visual outcomes.

Keywords: wet ARMD, subretinal bleed, intravitreal injections, aflibercept, EYELEA, intravitreal gas

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Authors: K. Marciniak, M. Owoc

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Managers as decision-makers present in different sectors should be supported in efficient and more and more sophisticated way. There are huge number of software tools developed for such users starting from simple registering data from business area – typical for operational level of management – up to intelligent techniques with delivering knowledge - for tactical and strategic levels of management. There is a big challenge for software developers to create intelligent management dashboards allowing to support different decisions. In more advanced solutions there is even an option for selection of intelligent techniques useful for managers in particular decision-making phase in order to deliver valid knowledge-base. Such a tool (called Intelligent Dashboard for SME Managers–InKOM) is prepared in the Business Intelligent framework of Teta products. The aim of the paper is to present solutions assumed for InKOM concerning on management of stored knowledge bases offering for business managers. The paper is managed as follows. After short introduction concerning research context the discussed supporting managers via information systems the InKOM platform is presented. In the crucial part of paper a process of knowledge transformation and validation is demonstrated. We will focus on potential and real ways of knowledge-bases acquiring, storing and validation. It allows for formulation conclusions interesting from knowledge engineering point of view.

Keywords: business intelligence, decision support systems, knowledge management, knowledge transformation, knowledge validation, managerial systems

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Authors: Shyh-Ming Chern, Wei-Ling Lin

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Lignin is a major constituent of woody biomass, and exists abundantly in nature. It is the major byproducts from the paper industry and bioethanol production processes. The byproducts are mainly used for low-valued applications. Instead, lignin can be converted into higher-valued gaseous fuel, thereby helping to curtail the ever-growing price of oil and to slow down the trend of global warming. Although biochemical treatment is capable of converting cellulose into liquid ethanol fuel, it cannot be applied to the conversion of lignin. Alternatively, it is possible to convert lignin into gaseous fuel thermochemically. In the present work, trans-4-hydroxycinnamic acid, a model compound for lignin, which closely resembles the basic building blocks of lignin, is gasified in an autoclave with ethanol at elevated temperatures and pressures, that are above the critical point of ethanol. Ethanol, instead of water, is chosen, because ethanol dissolves trans-4-hydroxycinnamic acid easily and helps to convert it into lighter gaseous species relatively well. The major operating parameters for the gasification reaction include temperature (673-873 K), reaction pressure (5-25 MPa) and feed concentration (0.05-0.3 M). Generally, more than 80% of the reactant, including trans-4-hydroxycinnamic acid and ethanol, were converted into gaseous products at an operating condition of 873 K and 5 MPa.

Keywords: ethanol, gasification, lignin, supercritical

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Authors: Arun Prasad

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Background: Robotic Bariatric Surgery is a good option for the super obese where laparoscopy demands challenging technical skills. Gastric bypass can be difficult due to inability of the robot to work in two quadrants at the same time. Lonroth technique of gastric bypass involves a totally supracolic surgery where all anastomosis are done in one quadrant only. Methods: We have done 78 robotic gastric bypass surgeries using the modified Lonroth technique. The robot is docked above the head of the patient in the midline. Camera port is placed supra umbilically. Two ports are placed on the left side of the patient and one port on the right side of the patient. An assistant port is placed between the camera port and right sided robotic port for use of stapler. Gastric pouch is made first followed by the gastrojejunostomy that is a four layered sutured anastomosis. Jejuno jejunostomy is then performed followed by a leak test and then the jejunum is divided. A 150 cm biliopancreatic limb and a 75 cm alimentary limb are finally obtained. Mesenteric and Petersen’s defects are then closed. Results: All patients had a successful robotic procedure. Mean time taken in the first 5 cases was 130 minutes. This reduced to a mean of 95 minutes in the last five cases. There were no intraoperative or post operative complications. Conclusions: While a hybrid technique of partly laparoscopic and partly robotic gastric bypass has been done at many centres, we feel using the modified Lonroth technique, a totally robotic gastric bypass surgery fully utilizes the potential of robotic bariatric surgery.

Keywords: robot, bariatric, totally robotic, gastric bypass

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Authors: J. Mrazek, R. Skala, S. Bysakh, Ivan Kasik

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Lanthanide-doped yttrium titanium oxides, which crystallize in a pyrochlore structure with general formula (RExY1-x)2Ti2O7 (RE=rare earth element), have been extensively investigated in recent years for their interesting physical and chemical properties. Despite that the pure pyrochlore structure does not present luminescence ability, the presence of yttrium ions in the pyrochlore structure significantly improves the luminescence properties of the RE. Moreover, the luminescence properties of pyrochlores strongly depend on the size of formed nanocrystals. In this contribution, we present a versatile sol-gel synthesis of nanocrystalline EuYTi2O7pyrochlore. The nanocrystalline powders and thin films were prepared by the condensation of titanium(IV)butoxide with europium(III) chloride followed by the calcination. The introduced method leads to the formation of the highly-homogenous nanocrystalline EuYTi2O7 with tailored grain size ranging from 20 nm to 200 nm. The morphology and the structure of the formed nanocrystals are linked to the luminescence properties of Eu3+ ions incorporated into the pyrochlore lattice. The results of XRD and HRTEM analysis show that the Eu3+ and Y3+ ions are regularly distributed inside the lattice. The lifetime of Eu3+ ions in calcinated powders is regularly decreasing from 140 us to 68 us and the refractive index of prepared thin films regularly increases from 2.0 to 2.45 according to the calcination temperature. The shape of the luminescence spectra and the decrease of the lifetime correspond with the crystallinity of prepared powders. The results present fundamental information about the effect of the size of the nanocrystals to their luminescence properties. The promising application of prepared nanocrystals in the field of lasers and planar optical amplifiers is widely discussed in the contribution.

Keywords: europium, luminescence, nanocrystals, sol-gel

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Authors: B. G. Oguntuase, M. O. Olofinsae

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This study was carried out to assess the contribution of bush meat to Edo people’s livelihood and the consequence of utilization on conservation. Five markets were selected in Ovia Southwest local government area of Edo State, twenty bush meat sellers were selected from each market. Direct observations were made to document the composition of wild animals under sale in the study area. A total of one hundred questionnaires were administered to the respondents. The questionnaires were all retrieved and analyzed using descriptive analysis. The results show that thirteen animal species are being traded in the area. The price for the animal species (whole animal) ranged from N200 to N9,520. Respondents reported that there is a decline in the animal population over time. Between 64% and 95% of the respondents acknowledged population decline in seven of the thirteen animal species available for sale compared to what it used to be some ten years ago. Sales of wild animal species could be regarded as a profitable business in the rural community, supporting livelihood of the community, but could have devastating effect on conservation as already observed in this study if harvesting of wild animals is not regulated on controlled or sustainable basis.

Keywords: conservation, economic benefits, hunting, population, wild animals

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Authors: Vladyslav Povoroznyuk, Tetiana Orlуk, Nataliia Dzerovych

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Introduction: Back pain is an extremely common health care problem worldwide. Many studies show a link between an obesity and risk of lower back pain. The aim is to study correlation and peculiarities of vertebral pain in women of different age depending on their anthropometric indicators. Materials: 1886 women aged 25-89 years were examined. The patients were divided into groups according to age (25-44, 45-59, 60-74, 75-89 years old) and body mass index (BMI: to 18.4 kg/m2 (underweight), 18.5-24.9 kg/m2 (normal), 25-30 kg/m2 (overweight) and more than 30.1 kg/m2 (obese). Methods: The presence and intensity of pain was evaluated in the thoracic and lumbar spine using a visual analogue scale (VAS). BMI is calculated by the standard formula based on body weight and height measurements. Statistical analysis was performed using parametric and nonparametric methods. Significant changes were considered as p <0.05. Results: The intensity of pain in the thoracic spine was significantly higher in the underweight women in the age groups of 25-44 years (p = 0.04) and 60-74 years (p=0.005). The intensity of pain in the lumbar spine was significantly higher in the women of 45-59 years (p = 0.001) and 60-74 years (p = 0.0003) with obesity. In the women of 45-74 years BMI was significantly positively correlated with the level of pain in the lumbar spine. Obesity significantly increases the relative risk of pain in the lumbar region (RR=0.07 (95% CI: 1.03-1.12; p=0.002)), while underweight significantly increases the risk of pain in the thoracic region (RR=1.21 (95% CI: 1.00-1.46; p=0.05)). Conclusion: In women, vertebral pain syndrome may be related to the anthropometric characteristics (e.g., BMI). Underweight may indirectly influence the development of pain in the thoracic spine and increase the risk of pain in this part by 1.21 times. Obesity influences the development of pain in the lumbar spine increasing the risk by 1.07 times.

Keywords: body mass index, age, pain in thoracic and lumbar spine, women

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Authors: Seher Arslankaya, Merve Si̇mge Usuk

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Lean manufacturing, which is based on the Toyota Production System, has focused on increasing the performance in various fields by eliminating the waste. By waste elimination, the lead time is reduced significantly and lean manufacturing provides companies with an important privilege under today's competitive conditions. The initial point of lean thinking is the value. This notion create of a specific product with specific properties for which the customer is ready to pay and which satisfies his needs within a specific time frame and at a specific price. Considering this, the final customer determines the value but the manufacturer creates this value of the product. The value stream is the whole set of activities required for each product. These activities may or may not be essential for the value. Through value stream mapping, all employees can see the sources of waste and develop future cases to eliminate it. This study focused on manufacturing to eliminate the waste which created a cost but did not create any value. The study was carried out at the Department of Assembly/Logistics at Toyota Motor Manufacturing Turkey from the automotive industry with a high product mix and variable demands. As a result of the value stream analysis, improvements are planned for the future cases. The process was improved by applying these suggestions.

Keywords: lead time, lean manufacturing, performance improvement, value stream papping

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Authors: Vichada Chokesikarin

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The study aims to determine which factors account for customer satisfaction and to investigate the relationship between entrepreneurial orientation and business success, in particular, context of the information understanding of hostel business in Pranakorn district, Bangkok and the significant element of entrepreneurship in tourism industry. This study covers 352 hostels customers and 61 hostel owners/managers nearby Khao San Road. Data collection methods were used by survey questionnaire and a series of hypotheses were developed from services marketing literature. The findings suggest the customer satisfaction most influenced by image, service quality, room quality and price accordingly. Furthermore the findings revealed that significant relationships exist between entrepreneurial orientation and business success; while competitive aggressiveness was found unrelated. The ECSI model’s generic measuring customer satisfaction was found partially mediate the business success. A reconsideration of other variables applicable should be supported with the model of hostel business. The study provides context and overall view of hostel business while discussing from the entrepreneurial orientation to customer satisfaction, thereby reducing decision risk on hostel investment.

Keywords: customer satisfaction, ECSI model, entrepreneurial orientation, small hotel, hostel, business performance

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Authors: Joon-Yeop Na, Sang-Keun Baik, Kyu-Soo Chong

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Road sign sizes are related to their support and foundation, and the large-scale support that is generally installed at roadsides can cause inconvenience to pedestrians and damage the urban landscape. The most influential factor in determining the support and foundation of road signs is the wind load. In this study, we introduce a hole-type road sign to analyze its effects on reducing wind load. A hole-type road sign reduces the drag coefficient that is applied when considering the air and fluid resistance of a plate when the wind pressure is calculated, thus serving as an effective option for lightening the weights of road sign structures. A hole-type road sign is punctured with a perforator. Furthermore, the size of the holes and their distance is determined considering the damage to characters, the poor performance of reflective sheets, and legibility. For the calculation of the optimal specification of a hole-type road sign, we undertook a theoretical examination for reducing the wind loads on hole-type road signs, and analyzed the bending and reflectivity of sample road sign plates. The analytic results confirmed that a hole-type road sign sample that contains holes of 6 mm in diameter with a distance of 18 mm between the holes shows reflectivity closest to that of existing road signs; moreover, the average bending moment resulted in a reduction of 4.24%, and the support’s diameter is reduced by 40.2%.

Keywords: hole type, road sign, weight lightening, wind load

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Authors: Isha Sharawat, R. P. Dahiya, T. R. Sreekrishnan

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One of the environmental challenges in India is urban wastewater management as regulations and infrastructural development has not kept pace with the urbanization and growing population. The quality of life of people is also improving with the rapid growth of the gross domestic product. This has contributed to the enhancement in the per capita water requirement and consumption. More domestic water consumption generates more wastewater. The scarcity of potable water is making the situation quite serious, and water supply has to be regulated in most parts of the country during summer. This requires elaborate and concerted efforts to efficiently manage the water resources and supply systems. In this article, a system dynamics modelling approach is used for estimating the water demand and wastewater generation in a district headquarter city of North India. Projections are made till the year 2035. System dynamics is a software tool used for formulation of policies. On the basis of the estimates, policy scenarios are developed for sustainable development of water resources in conformity with the growing population. Mitigation option curtailing the water demand and wastewater generation include population stabilization, water reuse and recycle and water pricing. The model is validated quantitatively, and sensitivity analysis tests are carried out to examine the robustness of the model.

Keywords: system dynamics, wastewater, water pricing, water recycle

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Authors: Hosamuddin Hamza

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The major concept of 4D printing is self-folding under thermal and humidity changes. This concept relies on understanding how the microstructures of 3D-printed models can undergo spontaneous shape transformation under thermal and moisture changes. The transformation mechanism could be achieved by mixing, in a controllable pattern, a number of materials within the printed model, each with known strain/shrinkage properties. 4D printing has a strong potential to be applied in dentistry as the technology could produce dynamic and adaptable materials to be used as functional objects in the oral environment under the continuously changing thermal and humidity conditions. The motion criteria could override the undesired dimensional changes, thermal instability, polymerization shrinkage and microleakage. 4D printing could produce restorative materials being self-adjusted spontaneously without further intervention from the dentist or patient; that is, the materials could be capable of fixing its failed portions, compensating for some lost tooth structure, while avoiding microleakage or overhangs at the margins. In prosthetic dentistry, 4D printing could provide an option to manage the influence of bone and soft tissue imbalance during mastication (and at rest) with high predictability of the type/direction of forces. It can also produce materials with better fitting and retention characteristics than conventional or 3D-printed materials. Nevertheless, it is important to highlight that 4D-printed objects, having dynamic properties, could provide some cushion as they undergo self-folding compensating for any thermal changes or mechanical forces such as traumatic forces.

Keywords: functional material, self-folding material, 3D printing, 4D printing

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Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

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Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

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Authors: Karl-Erich Lindenschmidt, Apurba Das, Joel Trudell, Keanne Russell

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In this presentation, we explore options for mitigating ice-jam flooding along the Athabasca River in western Canada. Not only flood hazard, expressed in this case as the probability of flood depths and extents being exceeded, but also flood risk, in which annual expected damages are calculated. Flood risk is calculated, which allows a cost-benefit analysis to be made so that decisions on the best mitigation options are not based solely on flood hazard but also on the costs related to flood damages and the benefits of mitigation. The river ice model is used to simulate extreme ice-jam flood events with which scenarios are run to determine flood exposure and damages in flood-prone areas along the river. We will concentrate on three mitigation options – the placement of a dike, artificial breakage of the ice cover along the river, the installation of an ice-control structure, and the construction of a reservoir. However, any mitigation option is not totally failsafe. For example, dikes can still be overtopped and breached, and ice jams may still occur in areas of the river where ice covers have been artificially broken up. Hence, for all options, it is recommended that zoning of building developments away from greater flood hazard areas be upheld. Flood mitigation can have a negative effect of giving inhabitants a false sense of security that flooding may not happen again, leading to zoning policies being relaxed. (Text adapted from Lindenschmidt [2022] "Ice Destabilization Study - Phase 2", submitted to the Regional Municipality of Wood Buffalo, Alberta, Canada)

Keywords: ice jam, flood hazard, flood risk river ice modelling, flood risk

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Authors: Somaieh Salehpour, Douglas Ireland, Chris Anderson, Charles Markessini

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Over the last few years, advancements have been made around improving sustainability for wood composite boards. One of the last and most challenging sustainability hurdles is finding a viable alternative to petroleum-based resin binders. In today’s market, no longer is formaldehyde emission control sufficient to meet the requirements of many architects and end-use consumers. Even the use of highly reactive isocyanates is considered by many as not sustainable enough since these chemicals are manufactured from classical fossil fuel sources. The emergence of biopolymers specifically engineered for usage as wood composite binders has been successfully demonstrated in this paper as a viable option towards a truly renewable wood composite board. Recent technology advancements driven by EcoSynthetix and CHIMAR have exploited the advantages of using an engineered biopolymer. The evidence shows that this renewable technology has the potential to be used as a partial up to full replacement of classical formaldehyde technologies. Numerous trials, both in the lab and at industrial scale, have shown that a renewable binder of the proposed technology can produce a commercially viable board in a traditional industrial setting. The ultimate goal of this work is to provide evidence that a sustainable binder alternative can be used to make a commercial board while at the same time improving the total cost of manufacturing.

Keywords: no added formaldehyde, renewable, biopolymers, sustainable wood composites, engineered biopolymers

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Authors: Vesna Lukovic

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Online platforms as new business models play an important role in today’s economy and the functioning of the EU’s internal market. In the travel industry, algorithms used by online platforms for short-stay accommodation provide suggestions and price information to travelers. Those suggestions and recommendations are displayed in search results via recommendation (ranking) systems. There has been a growing consensus that the current legal framework was not sufficient to resolve problems arising from platform practices. In order to enhance the potential of the EU’s Single Market, smaller businesses should be protected, and their rights strengthened vis-à-vis large online platforms. The Regulation (EU) 2019/1150 of the European Parliament and of the Council on promoting fairness and transparency for business users of online intermediation services aims to level the playing field in that respect. This research looks at Airbnb through the lenses of this regulation. The research explores key determinants and finds that although regulation is an important step in the right direction, it is not enough. It does not entail sufficient clarity obligations that would make online platforms an intermediary service which both accommodation providers and travelers could use with ease.

Keywords: algorithm, online platforms, ranking, consumers, EU regulation

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Authors: Amare Worku, Harikrishnan Muralidharan

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The research for more environmentally friendly sources of energy is a result of growing environmental awareness. In this aspect, wind energy is a very good option and there are two different wind turbines, horizontal axis wind turbine (HAWT) and vertical axis turbine (VAWT). For locations outside of integrated grid networks, vertical axis wind turbines (VAWT) present a feasible solution. However, those turbines have several drawbacks related to various setups, VAWT has a very low efficiency when compared with HAWT, but they work under different conditions and installation areas. This paper reviewed numerous measurements taken to improve the efficiency of VAWT configurations, either directly or indirectly related to the performance efficiency of the turbine. Additionally, the comparison and advantages of HAWT and VAWT turbines and also the findings of the design methodologies used for the VAWT design have been reviewed together with efficiency enhancement revision. Most of the newly modified designs are based on the turbine blade structure modification but need other studies on behalf other than electromechanical modification. Some of the techniques, like continuous variation of pitch angle control and swept area control, are not the most effective since VAWT is Omni-directional, and so wind direction is not a problem like HAWT. Hybrid system technology has become one of the most important and efficient methods to enhance the efficiency of VAWT. Besides hybridization, the contra-rotating method is also good if the installation area is big enough in an urban area.

Keywords: wind turbine, horizontal axis wind turbine, vertical axis wind turbine, hybridization

Procedia PDF Downloads 98

Authors: F. Z. Abir, M. Mesnaoui, Y. Abouliatim, L. Nibou, Y. El Hafiane, A. Smith

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The cement industry has been taking significant steps for years to reduce its carbon footprint by opting for an eco-friendly alternative such as Calcium Sulfoaluminate Cements (CSA). These binders, compared to Ordinary Portland Cements (OPC), have two advantages: reduction of the CO2 emissions and energy-saving because the sintering temperature of CSA cements is between 1250 and 1350 °C, which means 100 to 200 °C less than OPC. The aim of this work is to study the impurities effect, such as iron oxide, on the formation of the ye'elimite phase, which represents the main phase of Calcium Sulfoaluminate Cements and the consequence on its hydration. Several elaborations and characterization techniques were used to study the structure and microstructure of ye'elimite, such as X-ray diffraction (XRD), Scanning Electron Microscopy (SEM), thermal analysis, specific surface area measurement, and electrical conductivity of diluted solutions. This study details the protocol for the solid-state synthesis of ye'elimite containing increasing amounts of iron (general formula: Ca4Al(6-2x)Fe2xSO16 with x = 0.00 to 1.13). Ye'elimite is formed by solid-state reactions between Al2O3, CaO and CaSO4 and the maximum ye'elimite content is reached at a sintering temperature of 1300 °C. The presence of iron promotes the formation of cubic ye'elimite at the expense of the orthorhombic phase. The total incorporation of iron in ye'elimite structure is possible when x < 0.12. Beyond this content, the ferritic phase (CaO)2(Al2O3,Fe2O3) appears as a minor phase and develops two different morphologies during cooling: dendritic crystals and melt morphology. The formation of the ferrous liquid phase affects the evolution of grain size of the ye’elimite and calcium aluminates.

Keywords: calcium sulfoaluminate cement, ferritic phase, sintering, solid-state synthesis, ye’elimite

Procedia PDF Downloads 186

Authors: Junaid N. Chauhdary, Bernard A. Engel, Allah Bakhsh

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Solar powered tubewells can be a reliable and affordable source of supplying irrigation water compared with electric or diesel operated tubewells due to frequent load shedding and soaring energy prices. A study was conducted on a solar tubewell installed at the Water Management Research Center (WMRC), University of Agriculture, Faisalabad to investigate the viability of a solar powered tubewell in terms of discharge and benefit cost ratio. The tubewell discharge was 50 m3hr-1 with a total dynamic head of 30 m. The depth of bore was 31 m (14 m blind + 17 m screen) with a casing diameter of 15.2 cm (6 inches). A 3-stage submersible pump of 10.2 cm (4 inch) diameter was lowered in the casing to a depth of 22 m. The pump was powered from 21 solar panels of 200 W capacity each. The tubewell peak discharge was observed as 6 and 7 hr day-1 in winter and summer, respectively. The breakeven analysis of the solar tubewell showed that the payback period of the solar tubewell was 1.5 years of its 10 year usable life with an IRR (internal rate of return) of 69 %. The BCR (benefit cost ratio) of the solar tubewell at 2, 4, 6, and 8 percent discount rate were 3.75, 3.45, 3.19 and 2.96, respectively. The NPV (net present value) of the solar tubewell at 2, 4, 6, and 8 % discount rates were 1.89, 1.65, 1.45 and 1.27 million rupees, respectively. These results indicated that the solar powered tubewells are a viable option as well as environmentally friendly and can be adopted by the farmers due to their affordable payback period.

Keywords: benefit cost ratio, internal rate of return (IRR), net present value (NPV), solar tubewell

Procedia PDF Downloads 206

Authors: Evelyn Smith, Susan Simpson

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Background: Eating disorder (ED) treatment is complicated by high rates of chronicity, comorbidity, complex personality traits and client dropout. Given these complexities, Schema Therapy (ST) has been identified as a suitable treatment option. The study primarily aims to evaluate the efficacy of group ST for the treatment of EDs. The study further evaluated the effectiveness of ST in reducing schemas and improving quality of life. Method: Participant suitability was ascertained using the Eating Disorder Examination. Following this, participants attended 90-minute weekly group sessions over 25 weeks. Groups consisted of six to eight participants and were facilitated by two psychologists, at least one of who is trained in ST. Measures were completed at pre, mid and post-treatment. Measures assessed ED symptoms, cognitive schemas, schema mode presentations, quality of life, self-compassion and psychological distress. Results: As predicted, measures of ED symptoms were significantly reduced following treatment. No significant changes were observed in early maladaptive schema severity; however, reductions in schema modes were observed. Participants did not report improvements in general quality of life measures following treatment, though improvement in psychological well-being was observed. Discussion: Overall, the findings from the current study support the use of group ST for the treatment of EDs. It is expected that lengthier treatment is needed for the reduction in schema severity. Given participant dropout was considerably low, this has important treatment implications for the suitability of ST for the treatment of EDs.

Keywords: eating disorders, schema therapy, treatment, quality of life

Procedia PDF Downloads 77

Authors: Khaleel Alyahya, Faizah Alotaibi

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The coronavirus disease 19 (COVID-19) pandemic has caused an increase in general fear and anxiety around the globe. With the public health measures, including lockdown and travel restrictions, the COVID-19 period further resulted in a sudden increase in the vulnerability of people too ill mental health. This becomes greater among individuals who have a history of mental illness or are undergoing treatment and do not have easy access to medication and medical consultations. The study aims to measure the impact of COVID-19 and the degree of distress with the DASS scale on the mental health of residents living in Saudi Arabia. The study is a quantitative, observational, and cross-sectional conducted in Saudi Arabia to measure the impact of COVID-19 on the mental health of both citizens and residents of Saudi Arabia during pandemics. The study ran from February 2021 to June 2021, and a validated questionnaire was used. The targeted population of the study was Saudi citizens and non-Saudi residents. A sample size of 800 participants was calculated with a single proportion formula at 95% level of significance and 5% allowable error. The result revealed that participants who were always doing exercise experienced the lowest level of depression, anxiety, and stress. The highest prevalence of severe and extremely severe depression was among participants who sometimes do exercise at 53.2% for each. Similar results were obtained for anxiety and stress, where the extremely severe form was reported by those who sometimes did exercise at 54.8% and 72.2%, respectively. There was an inverse association between physical activity levels and levels of depression, anxiety, and stress during the COVID-19. Similarly, the levels of depression, anxiety, and stress differed significantly according to the exercise frequency during COVID-19.

Keywords: mental, COVID-19, pandemic, lockdown, depression, anxiety, stress

Procedia PDF Downloads 103

Authors: Thi Hai Anh Nguyen, Pantea Aria

Abstract:

Tiki is one of the leading e-commerce companies in Viet Nam. Since the beginning of 2020, COVID-19 has been spreading around the world. Thanks to this pandemic, the Tiki platform has many strengths and has faced many threats. Customer behaviour was forecasted to change during the COVID-19 pandemic. The aim of the investigation is (1) Identifying factors affecting online consumer behaviour of Tiki in Ho Chi Minh City, Vietnam, (2) Measuring the level of impact of these factors, and (3) Recommendations for Tiki to improve its business strategy for the next stage. This research studies eight factors and collected 378 online surveys for analysis. Using SPSS software identified five factors (product, price, reliability, and web design) positively influencing customer behaviour. COVID-19 factor does not impact significantly Tiki’s customer behaviour. This research conducted some qualitative interviews to understand shopping experiences and customers’ expectations. One of these interviews’ main points is that Tiki’s customers have high trust in the Tiki brand and its high-quality products. Based on the results, the Tiki corporation should secure its core value. Tiki’s employees and logistics systems should be well-trained and optimized to improve customer experiences.

Keywords: COVID-19, e-commerce, impact, pandemic, Vietnam

Procedia PDF Downloads 161