Search results for: dynamic pricing

Authors: R. S. Malik, S. K. Madan, V. K. Sehgal

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Reinforced concrete (RCC) buildings with dual system consisting of shear walls and moment resisting frames or braces and moment resisting frames have been widely used to resist lateral forces during earthquakes. The two dual systems are designed to resist the total design lateral force in proportion to their lateral stiffness. The response of the combination of braces and shear walls has not yet been studied therefore has practically no work to refer to. The combination may prove to be more effective in lateral load resistance by employing the peculiar advantages of shear walls and braces simultaneously and may also improve the architectural appearance of structures. This concept has been applied to regular RCC buildings provided with shear walls, braces, and their combinations.

Keywords: dynamic analysis, displacement, pushover analysis, dual structures, storey drift

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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: Dinesh Sivaguru, Kamal Thilakasiri

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Preventing money laundering and terrorist financing is a major national and international problem today. Several attempts have been made to prevent money laundering by national and international dimension. These are often counteracted by the multi dynamic nature of the crimes. However, launders are often to use remittance systems to clean their ill-gotten money. This study presents the role of domestic financial institutions and the effective practices and actions should implement within domestic financial institutions to control and prevent financial crimes. This thesis highlights the progress that is required to prevent money laundering and terrorist financing, further it is an original contribution to the knowledge in an under researched field in Sri Lanka.

Keywords: money laundering, terrorists financing, financial institutions, regulatory bodies

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Authors: Han Ding, Wang Xiaoliang, Duan Dengping

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During the process of airship design, the layout and the geometric shape of the hull and fins are crucial to the motion characteristics of the airship. In this paper, we obtained the quantification motion sensitivity of the airship to geometric parameters through turning circles and horizontal/vertical zigzag maneuvers by the parameterization of airship shape and building the dynamic model using Lagrangian approach and MATLAB Simulink program. In the dynamics simulation program, the affection of geometric parameters to the mass, center of gravity, moments of inertia, product of inertia, added mass and the aerodynamic forces and moments have been considered.

Keywords: airship, Lagrangian approach, turning circles, horizontal/vertical zigzag maneuvers

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Authors: Peng Liu, Chyng Wen Tee, Xiaofei Xu

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This paper integrates machine learning forecasting techniques into the multi-period portfolio optimization framework, enabling dynamic asset allocation based on multiple future periods. We explore both theoretical foundations and practical applications, employing diverse machine learning models for return forecasting. This comprehensive guide demonstrates the superiority of multi-period optimization over single-period approaches, particularly in risk mitigation through strategic rebalancing and enhanced market trend forecasting. Our goal is to promote wider adoption of multi-period optimization, providing insights that can significantly enhance the decision-making capabilities of practitioners and researchers alike.

Keywords: multi-period portfolio optimization, look-ahead constrained optimization, machine learning, sequential decision making

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Authors: Jeoungsu Na, Jaehawn Lee, Changil Hong, Suhee Kim

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A molecular dynamics simulation in a converging-diverging nozzle was performed to study molecular collisions and their influence to average flow velocity according to a variety of vacuum levels. The static pressures and the dynamic pressure exerted by the molecule collision on the selected walls were compared to figure out the intensity variances of the directional flows. With pressure differences constant between the entrance and the exit of the nozzle, the numerical experiment was performed for molecular velocities and directional flows. The result shows that the velocities increased at the nozzle exit as the vacuum level gets higher in that area because less molecular collisions.

Keywords: cavitation, molecular collision, nozzle, vacuum, velocity increase

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Authors: Panagiota Koliousi, Natasha Miaouli

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We compare product and labour market liberalization under the two trade union bargaining models: the Right-to-Manage (RTM) model and the Efficient Bargaining (EB) model. The vehicle is a dynamic general equilibrium (DGE) model that incorporates two types of agents (capitalists and workers), imperfectly competitive product and labour markets. The model is solved numerically employing common parameter values and data from the euro area. A key message is that product market deregulation is favourable under any labour market structure while opting for labour market deregulation one should provide special attention to the structure of the labour market such as the bargaining system of unions. If the prevailing way of bargaining is the RTM model then restructuring both markets is beneficial for all agents.

Keywords: market structure, structural reforms, trade unions, unemployment

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Authors: Chungkuk Jin, Moo-Hyun Kim, HeonYong Kang

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A surface riding (SR) wave energy converter (WEC) is designed and its feasibility and performance are numerically simulated by the author-developed floater-mooring-magnet-electromagnetics fully-coupled dynamic analysis computer program. The biggest advantage of the SR-WEC is that the performance is equally effective even in low sea states and its structural robustness is greatly improved by simply riding along the wave surface compared to other existing WECs. By the numerical simulations and actuator testing, it is clearly demonstrated that the concept works and through the optimization process, its efficiency can be improved.

Keywords: computer simulation, electromagnetics fully-coupled dynamics, floater-mooring-magnet, optimization, performance evaluation, surface riding, WEC

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Authors: Gideon J. Bonthuys, Marco van Dijk, Jay N. Bhagwan

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Small scale hydropower used to play a very important role in the provision of energy to urban and rural areas of South Africa. The national electricity grid, however, expanded and offered cheap, coal generated electricity and a large number of hydropower systems were decommissioned. Unfortunately, large numbers of households and communities will not be connected to the national electricity grid for the foreseeable future due to high cost of transmission and distribution systems to remote communities due to the relatively low electricity demand within rural communities and the allocation of current expenditure on upgrading and constructing of new coal fired power stations. This necessitates the development of feasible alternative power generation technologies. A feasibility and implementation model was developed to assist in designing and financially evaluating small-scale hydropower (SSHP) plants. Several sites were identified using the model. The SSHP plants were designed for the selected sites and the designs for the different selected sites were priced using pricing models (civil, mechanical and electrical aspects). Following feasibility studies done on the designed and priced SSHP plants, a feasibility analysis was done and a design chart developed for future similar potential SSHP plant projects. The methodology followed in conducting the feasibility analysis for other potential sites consisted of developing cost and income/saving formulae, developing net present value (NPV) formulae, Capital Cost Comparison Ratio (CCCR) and levelised cost formulae for SSHP projects for the different types of plant installations. It included setting up a model for the development of a design chart for a SSHP, calculating the NPV, CCCR and levelised cost for the different scenarios within the model by varying different parameters within the developed formulae, setting up the design chart for the different scenarios within the model and analyzing and interpreting results. From the interpretation of the develop design charts for feasible SSHP in can be seen that turbine and distribution line cost are the major influences on the cost and feasibility of SSHP. High head, short transmission line and islanded mini-grid SSHP installations are the most feasible and that the levelised cost of SSHP is high for low power generation sites. The main conclusion from the study is that the levelised cost of SSHP projects indicate that the cost of SSHP for low energy generation is high compared to the levelised cost of grid connected electricity supply; however, the remoteness of SSHP for rural electrification and the cost of infrastructure to connect remote rural communities to the local or national electricity grid provides a low CCCR and renders SSHP for rural electrification feasible on this basis.

Keywords: cost, feasibility, rural electrification, small-scale hydropower

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Authors: Ajish Sreedharan

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With the fast evolution of digital data exchange, security information becomes much important in data storage and transmission. Due to the increasing use of images in industrial process, it is essential to protect the confidential image data from unauthorized access. As encryption process is applied to the whole image in AES ,it is difficult to improve the efficiency. In this paper, wavelet decomposition is used to concentrate the main information of image to the low frequency part. Then, AES encryption is applied to the low frequency part. The high frequency parts are XORed with the encrypted low frequency part and a wavelet reconstruction is applied. Theoretical analysis and experimental results show that the proposed algorithm has high efficiency, and satisfied security suits for image data transmission.

Keywords: discrete wavelet transforms, AES, dynamic SBox

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Authors: George D. Hatzigeorgiou, Nikos G. Pnevmatikos

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This study examines the inelastic behavior of adjacent planar reinforced concrete (R.C.) frames subjected to strong ground motions. The investigation focuses on the effects of vertical ground motion on the seismic pounding. The examined structures are modeled and analyzed by RUAUMOKO dynamic nonlinear analysis program using reliable hysteretic models for both structural members and contact elements. It is found that the vertical ground motion mildly affects the seismic response of adjacent buildings subjected to structural pounding and, for this reason, it can be ignored from the displacement and interstorey drifts assessment. However, the structural damage is moderately affected by the vertical component of earthquakes.

Keywords: nonlinear seismic behavior, reinforced concrete structures, structural pounding, vertical ground motions

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Authors: Ferhat Demir

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Even if strategic management is highly critical for all types of organizations, only a few maturity models have been proposed in business literature for the area of strategic management activities. This paper updates previous studies and presents a new conceptual model for assessing the maturity of strategic management in any organization. Strategic management maturity model (S-3M) is basically composed of 6 maturity levels with 7 dimensions. The biggest contribution of S-3M is to put innovation into agenda of strategic management. The main objective of this study is to propose a model to align innovation with business strategies. This paper suggests that innovation (breakthrough new products/services and business models) is the only way of creating sustainable growth and strategy studies cannot ignore this aspect. Maturity models should embrace innovation to respond dynamic business environment and rapidly changing customer behaviours.

Keywords: strategic management, innovation, business model, maturity model

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Authors: Giovanni Incerti

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In this paper the dynamic behavior of a synchronous belt drive during start-up is analyzed and discussed. Besides considering the belt elasticity, the mathematical model here proposed also takes into consideration the electrical behaviour of the DC motor. The solution of the motion equations is obtained by means of the modal analysis in state space, which allows to obtain the decoupling of all equations of the mathematical model without introducing the hypothesis of proportional damping. The mathematical model of the transmission and the solution algorithms have been implemented within a computing software that allows the user to simulate the dynamics of the system and to evaluate the effects due to the elasticity of the belt branches and to the electromagnetic behavior of the DC motor. In order to show the details of the calculation procedure, the paper presents a case study developed with the aid of the abovementioned software.

Keywords: belt drive, vibrations, startup, DC motor

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Authors: Ersan Aktas, Eren Turanoğuz

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In this study, the quad-electrical rotor driven unmanned aerial vehicle system is designed and modeled using fundamental dynamic equations. After that, mechanical, electronical and control system of the air vehicle are designed and implemented. Brushless motor speeds are altered via electronic speed controllers in order to achieve desired controllability. The vehicle's fundamental Euler angles (i.e., roll angle, pitch angle, and yaw angle) are obtained via AHRS sensor. These angles are provided as an input to the control algorithm that run on soft the processor on the electronic card. The vehicle control algorithm is implemented in the electronic card. Controller is designed and improved for each Euler angles. Finally, flight tests have been performed to observe and improve the flight characteristics.

Keywords: quadrotor, UAS applications, control architectures, PID

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Authors: Christian J. Kennett, Mark A. Baldwin

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As several companies are working towards returning American astronauts back to space on US-made spacecraft, NASA developed a human flight certification-by-test and analysis approach due to the cost-prohibitive nature of extensive testing. This process relies heavily on the quality of analytical models to accurately predict crew injury potential specific to each spacecraft and under dynamic environments not tested. As the prime contractor on the Orion spacecraft, Lockheed Martin was tasked with quantifying the correlation of analytical anthropometric test devices (ATDs), also known as crash test dummies, against test measurements under representative impact conditions. Multiple dynamic impact sled tests were conducted to characterize Hybrid III 5th ATD lumbar, head, and neck responses with and without a modified shuttle-era advanced crew escape suit (ACES) under simulated Orion landing and abort conditions. Each ATD was restrained via a 5-point harness in a mockup Orion seat fixed to a dynamic impact sled at the Wright Patterson Air Force Base (WPAFB) Biodynamics Laboratory in the horizontal impact accelerator (HIA). ATDs were subject to multiple impact magnitudes, half-sine pulse rise times, and XZ - ‘eyeballs out/down’ or Z-axis ‘eyeballs down’ orientations for landing or an X-axis ‘eyeballs in’ orientation for abort. Several helmet constraint devices were evaluated during suited testing. Unique finite element models (FEMs) were developed of the unsuited and suited sled test configurations using an analytical 5th ATD model developed by LSTC (Livermore, CA) and deformable representations of the seat, suit, helmet constraint countermeasures, and body restraints. Explicit FE analyses were conducted using the non-linear solver LS-DYNA. Head linear and rotational acceleration, head rotational velocity, upper neck force and moment, and lumbar force time histories were compared between test and analysis using the enhanced error assessment of response time histories (EEARTH) composite score index. The EEARTH rating paired with the correlation and analysis (CORA) corridor rating provided a composite ISO score that was used to asses model correlation accuracy. NASA occupant protection subject matter experts established an ISO score of 0.5 or greater as the minimum expectation for correlating analytical and experimental ATD responses. Unsuited 5th ATD head X, Z, and resultant linear accelerations, head Y rotational accelerations and velocities, neck X and Z forces, and lumbar Z forces all showed consistent ISO scores above 0.5 in the XZ impact orientation, regardless of peak g-level or rise time. Upper neck Y moments were near or above the 0.5 score for most of the XZ cases. Similar trends were found in the XZ and Z-axis suited tests despite the addition of several different countermeasures for restraining the helmet. For the X-axis ‘eyeballs in’ loading direction, only resultant head linear acceleration and lumbar Z-axis force produced ISO scores above 0.5 whether unsuited or suited. The analytical LSTC 5th ATD model showed good correlation across multiple head, neck, and lumbar responses in both the unsuited and suited configurations when loaded in the XZ ‘eyeballs out/down’ direction. Upper neck moments were consistently the most difficult to predict, regardless of impact direction or test configuration.

Keywords: impact biomechanics, manned spaceflight, model correlation, multi-axial loading

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Authors: Jairo Aparecido Martins, Estaner Claro Romão

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This paper presents the static and cyclic stresses in combination with fatigue analysis resultant of loads applied on the friction discs usually utilized on industrial clutches. The material chosen to simulate the friction discs under load is aluminum. The numerical simulation was done by software COMSOL^TM Multiphysics. The results obtained for static loads showed enough stiffness for both geometries and the material utilized. On the other hand, in the fatigue standpoint, failure is clearly verified, what demonstrates the importance of both approaches, mainly dynamical analysis. The results and the conclusion are based on the stresses on disc, counted stress cycles, and fatigue usage factor.

Keywords: aluminum, industrial clutch, static and dynamic loading, numerical simulation

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Authors: Dan Geneau, Mary Claire Geneau, Seth Lenetsky, Ming -Chang Tsai, Marc Klimstra

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Introduction— Horizontal force-velocity profiling (HFVP) involves modeling an athletes linear sprint kinematics to estimate valuable maximum force and velocity metrics. This approach to performance modeling has been used in field-based team sports and has recently been introduced to ice-hockey as a forward skating performance assessment. While preliminary data has been collected on ice, distance constraints of the on-ice test restrict the ability of the athletes to reach their maximal velocity which result in limits of the model to effectively estimate athlete performance. This is especially true of more elite athletes. This report explores whether athletes on-ice are able to reach a velocity plateau similar to what has been seen in overground trials. Fourteen male Major Junior ice-hockey players (BW= 83.87 +/- 7.30 kg, height = 188 ± 3.4cm cm, age = 18 ± 1.2 years n = 14) were recruited. For on-ice sprints, participants completed a standardized warm-up consisting of skating and dynamic stretching and a progression of three skating efforts from 50% to 95%. Following the warm-up, participants completed three on ice 45m sprints, with three minutes of rest in between each trial. For overground sprints, participants completed a similar dynamic warm-up to that of on-ice trials. Following the warm-up participants completed three 40m overground sprint trials. For each trial (on-ice and overground), radar was used to collect instantaneous velocity (Stalker ATS II, Texas, USA) aimed at the participant’s waist. Sprint velocities were modelled using custom Python (version 3.2) script using a mono-exponential function, similar to previous work. To determine if on-ice tirals were achieving a maximum velocity (plateau), minimum acceleration values of the modeled data at the end of the sprint were compared (using paired t-test) between on-ice and overground trials. Significant differences (P<0.001) between overground and on-ice minimum accelerations were observed. It was found that on-ice trials consistently reported higher final acceleration values, indicating a maximum maintained velocity (plateau) had not been reached. Based on these preliminary findings, it is suggested that reliable HFVP metrics cannot yet be collected from all ice-hockey populations using current methods. Elite male populations were not able to achieve a velocity plateau similar to what has been seen in overground trials, indicating the absence of a maximum velocity measure. With current velocity and acceleration modeling techniques, including a dependency of a velocity plateau, these results indicate the potential for error in on-ice HFVP measures. Therefore, these findings suggest that a greater on-ice sprint distance may be required or the need for other velocity modeling techniques, where maximal velocity is not required for a complete profile.   

Keywords: ice-hockey, sprint, skating, power

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Authors: Xiong Xie, Yuhang Chen

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Vulnerability discovery technology is a significant field of the current. In this paper, a fuzzy framework based on concolic execution has been proposed. Fuzzy test and symbolic execution are widely used in the field of vulnerability discovery technology. But each of them has its own advantages and disadvantages. During the path generation stage, path traversal algorithm based on generation is used to get more accurate path. During the constraint solving stage, dynamic concolic execution is used to avoid the path explosion. If there is external call, the concolic based on function summary is used. Experiments show that the framework can effectively improve the ability of triggering vulnerabilities and code coverage.

Keywords: concolic execution, constraint solving, fuzzy test, vulnerability discovery

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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: Omar Farahat Hassanein, A. Samer Ezeldin

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The construction industry is a very dynamic field. Every day new technologies and methods are developing to fasten the process and increase its efficiency. Hence, if a project uses fewer resources, it will be more efficient. This paper examines the recycling of concrete construction and demolition (C&D) waste to reuse it as aggregates in on-site applications for construction projects in Egypt and possibly in the Middle East. The study focuses on a stationary plant setting. The machinery set-up used in the plant is analyzed technically and financially. The findings are gathered and grouped to obtain a comprehensive cost-benefit financial model to demonstrate the feasibility of establishing and operating a concrete recycling plant. Furthermore, a detailed business plan including the time and hierarchy is proposed.

Keywords: construction wastes, recycling, sustainability, financial model, concrete recycling, concrete life cycle

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Authors: Siti Marlia Abd Rahim, Mad Khir Johari Abdullah Sani

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The ever-increasing use of social media applications by library users has raised concerns about the purpose and effectiveness of these platforms in academic libraries. While social media has the potential to revolutionize library services, its usage for non-educational purposes and security concerns have hindered its full potential. This paper aims to address the user behavioral factors affecting social media engagement in academic libraries and examine the impact of social media engagement on user participation. Additionally, it seeks to measure the effect of user participation in social media on the development of powerful learning communities.

Keywords: social media adoption, social media engagement, academic library, social media in academic library, learning community

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Authors: Buntheng Chhorn, WooYoung Jung

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Large-scale swing has been used in entertainment and performance, especially in circus, for a very long time. To increase the safety of this type of structure, a thorough analysis for displacement and bearing stress was performed for an extreme condition where a full cycle swing occurs. Different masses, ranging from 40 kg to 220 kg, and velocities were applied on the swing. Then, based on the solution of differential dynamics equation, swing velocity response to harmonic force was obtained. Moreover, the resistance capacity was estimated based on ACI steel structure design guide. Subsequently, numerical analysis was performed in ABAQUS to obtain the stress on each frame of the swing. Finally, the analysis shows that the expansion of swing structure frame section was required for mass bigger than 150kg.

Keywords: swing structure, displacement, bearing stress, dynamic loads response, finite element analysis

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Authors: Abdo Shabah

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Mass customization aims to produce customized goods (allowing economies of scope) at lower cost (to achieve economies of scale) using multiple strategies (modularization and postponement). Through a simulation experiment of organizations under turbulent environment, we aim to compare standardization and mass customization of services and assess the impact of different forms of mass customization (early and late postponement) on performance, quality and consumer satisfaction, on the use of modular dynamic 3D Geographic Information System. Our hypothesis is that mass customization performs better and achieves better quality in turbulent environment than standardization, but only when using early postponement strategies. Using mixed methods study, we try to confirm our hypothesis.

Keywords: mass customization, postponement, experiment, performance, quality, satisfaction, 3D GIS

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Authors: Olga Karamalak

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The paper demonstrates a research about theoretical understanding of writing in the electronic environment as dynamic, interactive, dialogical, and distributed activity aimed at “other-orientation” and consensual domain creation. The purpose is to analyze the personal e-mail correspondence in the academic environment from this perspective. The focus is made on the dynamics of interaction between the correspondents such as contact setting, orientation and co-functions; and the text of an e-letter is regarded as indices of the write’s state or affordances in terms of ecological linguistics. The establishment of consensual domain of interaction brings about a new stage of cognition emergence which may lead to distributed learning. The research can play an important part in the series of works dedicated to writing in the electronic environment.

Keywords: consensual domain of interactions, distributed writing and learning, e-mail correspondence, interaction, orientation, co-function

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Authors: Jian-Li Shao

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Using Molecular Dynamic (MD) simulations, we simulated the microjet from the metal surface under decaying shock loading. The microjetting processes under release melting conditions are presented in detail, and some properties on the microjet mass and velocity are revealed. The phased increase of microjet mass with shock pressure is found. For all cases, the ratio of the maximal jetting velocity to the surface velocity approximately keeps a constant for liquid state. In addition, the temperature of the microjet can be always above the melting point. When introducing slow decaying profiles, the microjet mass begins to increase with the decay rate, which is dominated by the deformation of the bubble during pull-back. When the decay rate becomes fast enough, the microspall occurs as expected, meanwhile, the microjet appears to reduce because of the shock energy reduction.

Keywords: microjetting, shock, metal, molecular dynamics

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Authors: Thirawudh Pongprayoon, Watcharin Rassamee

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Silica-filled natural rubber compounds were prepared from unmodified and surface-modified silica. The modified silica was coated by ultrathin film of polyisoprene by admicellar polymerization. FTIR and SEM were applied to characterize the modified silica. The cure, mechanic, and dynamics properties were investigated with the comparison of the compounds. Cure characterization of modified silica rubber compound was shorter than that of unmodified silica compound. Strength and abrasion resistance of modified silica compound were better than those of unmodified silica rubber compound. Wet grip and rolling resistance analyzed by DMA from tanδ at 0°C and 60°C using 5 Hz were also better than those of unmodified silica rubber compound.

Keywords: silica, admicellar polymerization, rubber compounds, mechanical properties, dynamic properties

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Authors: F. Ainlhout, S. Boutaleb, M. C. Diaz-Barradas, M. Zunzunegui

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Argania spinosa is an endemic tree of the southwest of Morocco, occupying 828,000 Ha, distributed mainly between Mediterranean vegetation and the desert. This tree can grow in extremely arid regions in Morocco, where annual rainfall ranges between 100-300 mm where no other tree species can live. It has been designated as a UNESCO Biosphere reserve since 1998. Argania tree is of great importance in human and animal feeding of rural population as well as for oil production, it is considered as a multi-usage tree. Admine forest located in the suburbs of Agadir city, 5 km inland, was selected to conduct this work. The aim of the study was to investigate the temporal variation in root-zone moisture dynamic in response to variation in climatic conditions and vegetation water uptake, using a geophysical technique called Electrical resistivity imaging (ERI). This technique discriminates resistive woody roots, dry and moisture soil. Time-dependent measurements (from April till July) of resistivity sections were performed along the surface transect (94 m Length) at 2 m fixed electrode spacing. Transect included eight Argan trees. The interactions between the tree and soil moisture were estimated by following the tree water status variations accompanying the soil moisture deficit. For that purpose we measured midday leaf water potential and relative water content during each sampling day, and for the eight trees. The first results showed that ERI can be used to accurately quantify the spatiotemporal distribution of root-zone moisture content and woody root. The section obtained shows three different layers: middle conductive one (moistured); a moderately resistive layer corresponding to relatively dry soil (calcareous formation with intercalation of marly strata) on top, this layer is interspersed by very resistant layer corresponding to woody roots. Below the conductive layer, we find the moderately resistive layer. We note that throughout the experiment, there was a continuous decrease in soil moisture at the different layers. With the ERI, we can clearly estimate the depth of the woody roots, which does not exceed 4 meters. In previous work on the same species, analyzing the δ18O in water of xylem and in the range of possible water sources, we argued that rain is the main water source in winter and spring, but not in summer, trees are not exploiting deep water from the aquifer as the popular assessment, instead of this they are using soil water at few meter depth. The results of the present work confirm the idea that the roots of Argania spinosa are not growing very deep.

Keywords: Argania spinosa, electrical resistivity imaging, root system, soil moisture

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Authors: Min Dai, Hong Liu, Shuaijie Qian

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We study a portfolio selection problem of an investor who faces constraints on rebalancing frequency, which is common in pension fund investment. We formulate it as a multiple optimal stopping problem and utilize the dynamic programming principle. By numerically solving the corresponding Hamilton-Jacobi-Bellman (HJB) equation, we find a series of free boundaries characterizing optimal strategy, and the constraints significantly impact the optimal strategy. Even in the absence of transaction costs, there is a no-trading region, depending on the number of the remaining trading chances. We also find that the equivalent wealth loss caused by the constraints is large. In conclusion, our model clarifies the impact of the constraints on transaction frequency on the optimal strategy.

Keywords: portfolio selection, rebalancing frequency, optimal strategy, free boundary, optimal stopping

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Authors: Teboho J. Mosikari, Johannes T. Tsoku, Diteboho L. Xaba

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The increase of capital mobility across emerging economies has become an interesting topic for many economic policy makers. The current study tests the validity of Feldstein–Horioka puzzle for 5 BRICS countries. The sample period of the study runs from 2001 to 2014. The study uses the following parameter estimates well known as the Fully Modified OLS (FMOLS), and Dynamic OLS (DOLS). The results of the study show that investment and savings are cointegrated in the long run. The parameters estimated using FMOLS and DOLS are 0.85 and 0.74, respectively. These results imply that policy makers within BRICS countries have to consider flexible monetary and fiscal policy instruments to influence the mobility of capital with the bloc.

Keywords: Feldstein and Horioka puzzle, saving and investment, panel models, BRICS countries

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Authors: Almontas Vilutis, Vytenis Jankauskas

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The paper presents the results of the investigation of the dry sliding friction of wood-plastic composites (WPCs) against WC-Co cemented carbide. The dependence of the dynamic coefficient of friction on the main influencing factors (vertical load, temperature, and sliding distance) was investigated by evaluating their mutual interaction. Multiple regression analysis showed a high polynomial dependence (adjusted R2 > 0.98). The resistance of the composite to thermo-mechanical effects determines how temperature and force factors affect the magnitude of the coefficient of friction. WPC-B composite has the lowest friction and highest resistance compared to WPC-A, while composite and cemented carbide materials wear the least. Energy dispersive spectroscopy (EDS), based on elemental composition, provided important insights into the friction process.

Keywords: friction, composite, carbide, factors

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