Search results for: option pricing

Authors: Lucila T. Magalong

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The hotel industry has been using their corporate image and reputation to maintain service quality, customer satisfaction, and customer loyalty and to leverage themselves against competitors and facilitate their growth strategies. With the increasing pressure to perform, hotels have even created hybrid service strategy to fight in the niche markets across pricing and level-off service parameters.

Keywords: corporate image, hotel industry, service quality, customer expectations

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Authors: Robin Molinier

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Industrial symbiosis (I.S) rely on two basic modes of cooperation between organizations that are infrastructure/service sharing and resource substitution (the use of waste materials, fatal energy and recirculated utilities for production). The former consists in the intensification of use of an asset and thus requires to compare the incremental investment cost to be incurred and the stand-alone cost faced by each potential participant to satisfy its own requirements. In order to investigate the way such a cooperation mode can be implemented we formulate a game theoretic model integrating the grassroot investment decision and the ex-post access pricing problem. In the first period two actors set cooperatively (resp. non-cooperatively) a level of common (resp. individual) infrastructure capacity oversizing to attract ex-post a potential entrant with a plug-and-play offer (available capacity, tariff). The entrant’s requirement is randomly distributed and known only after investments took place. Capacity cost exhibits sub-additive property so that there is room for profitable overcapacity setting in the first period under some conditions that we derive. The entrant willingness-to-pay for the access to the infrastructure is driven by both her standalone cost and the complement cost to be incurred in case she chooses to access an infrastructure whose the available capacity is lower than her requirement level. The expected complement cost function is thus derived, and we show that it is decreasing, convex and shaped by the entrant’s requirements distribution function. For both uniform and triangular distributions optimal capacity level is obtained in the cooperative setting and equilibrium levels are determined in the non-cooperative case. Regarding the latter, we show that competition is deterred by the first period investor with the highest requirement level. Using the non-cooperative game outcomes which gives lower bounds for the profit sharing problem in the cooperative one we solve the whole game and describe situations supporting sharing agreements.

Keywords: capacity, cooperation, industrial symbiosis, pricing

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Authors: Chhavi Saxena

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FinFETs can be a replacement for bulk-CMOS transistors in many different designs. Its low leakage/standby power property makes FinFETs a desirable option for memory sub-systems. Memory modules are widely used in most digital and computer systems. Leakage power is very important in memory cells since most memory applications access only one or very few memory rows at a given time. As technology scales down, the importance of leakage current and power analysis for memory design is increasing. In this paper, we discover an option for low power interconnect synthesis at the 32nm node and beyond, using Fin-type Field-Effect Transistors (FinFETs) which are a promising substitute for bulk CMOS at the considered gate lengths. We consider a mechanism for improving FinFETs efficiency, called variable supply voltage schemes. In this paper, we’ve illustrated the design and implementation of FinFET based 4x4 SRAM cell array by means of one bit 7T SRAM. FinFET based 7T SRAM has been designed and analysis have been carried out for leakage current, dynamic power and delay. For the validation of our design approach, the output of FinFET SRAM array have been compared with standard CMOS SRAM and significant improvements are obtained in proposed model.

Keywords: FinFET, 7T SRAM cell, leakage current, delay

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Authors: Vânia Costa, Nuno De Sá Teixeira, Ana C. Santos, Eduardo Santos

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Financial literacy and numeracy have been regarded as paramount for rational household decision making in the increasing complexity of financial markets. However, financial decisions are often made under sub-optimal circumstances, including cognitive overload. The present study aims to clarify how financial literacy and numeracy, taken as relevant expert knowledge for financial decision-making, modulate possible effects of cognitive load. Participants were required to perform a choice between a sure loss or a gambling pertaining a financial investment, either with or without a competing memory task. Two experiments were conducted varying only the content of the competing task. In the first, the financial choice task was made while maintaining on working memory a list of five random letters. In the second, cognitive load was based upon the retention of six random digits. In both experiments, one of the items in the list had to be recalled given its serial position. Outcomes of the first experiment revealed no significant main effect or interactions involving cognitive load manipulation and numeracy and financial literacy skills, strongly suggesting that retaining a list of random letters did not interfere with the cognitive abilities required for financial decision making. Conversely, and in the second experiment, a significant interaction between the competing mnesic task and level of financial literacy (but not numeracy) was found for the frequency of choice of a gambling option. Overall, and in the control condition, both participants with high financial literacy and high numeracy were more prone to choose the gambling option. However, and when under cognitive load, participants with high financial literacy were as likely as their illiterate counterparts to choose the gambling option. This outcome is interpreted as evidence that financial literacy prevents intuitive risk-aversion reasoning only under highly favourable conditions, as is the case when no other task is competing for cognitive resources. In contrast, participants with higher levels of numeracy were consistently more prone to choose the gambling option in both experimental conditions. These results are discussed in the light of the opposition between classical dual-process theories and fuzzy-trace theories for intuitive decision making, suggesting that while some instances of expertise (as numeracy) are prone to support easily accessible gist representations, other expert skills (as financial literacy) depend upon deliberative processes. It is furthermore suggested that this dissociation between types of expert knowledge might depend on the degree to which they are generalizable across disparate settings. Finally, applied implications of the present study are discussed with a focus on how it informs financial regulators and the importance and limits of promoting financial literacy and general numeracy.

Keywords: decision making, cognitive load, financial literacy, numeracy

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Authors: F. O. Adeosun, I. O. Orubuloye, O. O. Babalola

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Although caesarean section has greatly improved obstetric care throughout the world, in developing countries there is a great aversion to caesarean section. This study was carried out to examine the rate at which pregnant women with pre-eclampsia choose caesarean section over natural birth. A cross-sectional study was conducted among 500 pre-eclampsia antenatal clients seen at the States University Teaching Hospitals in the last one year. The sample selection was purposive. Information on their educational background, beliefs and attitudes were collected. Data analysis was presented using simple percentages. Out of 500 women studied, 38% favored caesarean section while 62% were against it. About 89% of them understood what caesarean section is, 57.3% of those who understood what caesarean section is will still not choose it as an option. Over 85% of the women believed caesarean section is done for medical reasons. If caesarean section is given as an option for childbirth, 38% would go for it, 29% would try religious intervention, 5.5% would not choose it because of fear, while 27.5% would reject it because they believe it is culturally wrong. Majority of respondents (85%) who favored caesarean delivery are aware of the risk attached to choosing virginal birth but go an extra mile in sourcing funds for a caesarean session while over 64% cannot afford the cost of caesarean delivery. It is therefore pertinent to encourage research in prediction methods and prevention of occurrence, since this would assist patients to plan on how to finance treatment.

Keywords: caesarean section, choice, cost, pre eclampsia, prediction methods

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Authors: Eumsin Payan

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The article desires the Association of Southeast Asian Nations (ASEAN) to take interest in the policies and give importance to India over other powerful countries in the World, including powerful countries in Asia, comprising of: People’s Republic of China (PRC), Russia, and India countries with the ability to drive the Asian continent, specifically, the ASEAN Economic Community (AEC). (Japan was incapable of stepping up to become the leader of ASEAN due to the fact that Japan has created “wounds” from military history with too many countries in Asia, including wounds from the Greater East Asia War, combining with economic problems Japan is currently facing and also several natural disasters, therefore Japan is not considered a good option of our era.) China appears to be an option that stands out, which could be seen through countless published articles in the general public. However, this article desires to propose India as an option to develop and drive the relationship between ASEAN countries in the future development of Computer Science Technology and allow India to be the leader in driving the Asian Economy in place of China and the United States. As for Russia, its location is distant and apart from South East Asia. Moreover, Russia does not give as much importance to ASEAN. In this light, the author perceives that India already has the “Look East” policy. Therefore, it would be simple for ASEAN to look back at India by simply starting cooperation through policies related to collaboration in the areas of computer science. In effect, this will continuously adjust and improve the relationship towards cooperation in the areas of economics, society, and culture. Referring to the above, the author suggests a word that could be used to call the relationship between India and ASEAN, INSEAN or IN-SEAN. Hereinafter, the author hopes that Thailand, in the position of one in the five founders of ASEAN, could become the leader or be the entity that pushes forward the ASEAN policies that will increase the importance of looking towards India. India is an emerging giant that has the ability to step up in Asia. With the proficient use of English, India is able to pass on the knowledge and drive the ASEAN’s Economic relationship better than China or Russia, as faced with higher language barriers. Moreover, India has cultivated democratic civilization from the colonization of the British Empire, similar to other nations of Southeast Asia, which are familiar with various heritage cultures that the British has brought them. The most important aspect in the author’s perspective is the fact that India is not aggressive and that they have courtesy. Through developing policies of the East through the “Look East” policy, it enabled India to establish a more smooth relationship with Asian countries comparing to China. China has imposed harsh policies towards democracy to the land above the South China Sea, which directly affect the ASEAN countries. From the above reasons, India, therefore, is an appropriate option in the establishment of a closer relationship with ASEAN, as the author has proposed relationship as INSEAN or IN-SEAN.

Keywords: IN-SEAN, INSEAN, look west policy, look east policy, ASEAN, India

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Authors: E. Channol, O. Collet, N. Kostyuchyk, T. Mesbah, Quoc Hoang Long Nguyen

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In this paper, a pricing model is proposed for co-integrated commodities extending Larsson model. The futures formulae have been derived and tests have been performed with non-constant volatility. The model has been applied to energy commodities (gas, CO2, energy) and soft commodities (corn, wheat). Results show that non-constant volatility leads to more accurate short term prices, which provides better evaluation of value-at-risk and more generally improve the risk management.

Keywords: co-integration, soft commodities, risk management, value-at-risk

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Authors: Taisier A. Zoubi, Feras Salama, Mahmud Hossain, Yass A. Alkafaji

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The purpose of this study is to examine the equity pricing of other comprehensive income when earnings are disaggregated into several components. Our findings indicate that other comprehensive income can better explain variation in stock returns when net income is reported in a disaggregated form. Additionally, we found that disaggregating both net income and other comprehensive income can explain more of the variation in the stock returns than the two summary components of comprehensive income. Our results survive a series of robustness checks.

Keywords: market valuation, other comprehensive income, value-relevance, incremental information content

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Authors: Md. Mizanur Rahman, Chu Chi Ming, Mohd Suffian Bin Misaran

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Chimney is an important part of the industries to remove waste heat from the processes side to the atmosphere. The increased demand of energy helps to restart to think about the efficiency of chimney as well as to find out a valid option to replace forced draft chimney system from industries. In this study natural draft chimney model is air flow rate; exit air temperature and pressure losses are studied through modification with wire mesh screen and compare the results with without wire mesh screen chimney model. The heat load is varies from 0.1 kW to 1kW and three different wire mesh screens that have pore size 0.15 mm2, 0.40 mm2 and 4.0 mm2 respectively are used. The experimental results show that natural draft chimney model with wire mesh screens significantly restored the flow losses compared to the system without wire mesh screen. The natural draft chimney model with 0.40 mm2 pore size wire mesh screen can minimize the draft losses better than others and able to enhance velocity about 54 % exit air temperature about 41% and pressure loss decreased by about 20%. Therefore, it can be decided that the wire mesh screens significantly minimize the draft losses in the natural draft chimney and 0.40 mm2 pore size screen will be a suitable option.

Keywords: natural draft dhimney, wire mesh screen, natural draft flow, mechanical engineering

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Authors: Hatem Abou-Senna

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Interstate 4 (I-4) is a primary east-west transportation corridor between Tampa and Daytona cities, serving commuters, commercial and recreational traffic. I-4 is known to have severe recurring congestion during peak hours. The congestion spans about 11 miles in the evening peak period in the central corridor area as it is considered the only non-tolled limited access facility connecting the Orlando Central Business District (CBD) and the tourist attractions area (Walt Disney World). Florida officials had been skeptical of tolling I-4 prior to the recent legislation, and the public through the media had been complaining about the excessive toll facilities in Central Florida. So, in search for plausible mitigation to the congestion on the I-4 corridor, this research is implemented to evaluate the effectiveness of different toll pricing alternatives that might divert traffic from I-4 to the toll facilities during the peak period. The network is composed of two main diverging limited access highways, freeway (I-4) and toll road (SR 417) in addition to two east-west parallel toll roads SR 408 and SR 528, intersecting the above-mentioned highways from both ends. I-4 and toll road SR 408 are the most frequently used route by commuters. SR-417 is a relatively uncongested toll road with 15 miles longer than I-4 and $5 tolls compared to no monetary cost on 1-4 for the same trip. The results of the calibrated Orlando PARAMICS network showed that percentages of route diversion vary from one route to another and depends primarily on the travel cost between specific origin-destination (O-D) pairs. Most drivers going from Disney (O1) or Lake Buena Vista (O2) to Lake Mary (D1) were found to have a high propensity towards using I-4, even when eliminating tolls and/or providing real-time information. However, a diversion from I-4 to SR 417 for these OD pairs occurred only in the cases of the incident and lane closure on I-4, due to the increase in delay and travel costs, and when information is provided to travelers. Furthermore, drivers that diverted from I-4 to SR 417 and SR 528 did not gain significant travel-time savings. This was attributed to the limited extra capacity of the alternative routes in the peak period and the longer traveling distance. When the remaining origin-destination pairs were analyzed, average travel time savings on I-4 ranged between 10 and 16% amounting to 10 minutes at the most with a 10% increase in the network average speed. High propensity of diversion on the network increased significantly when eliminating tolls on SR 417 and SR 528 while doubling the tolls on SR 408 along with the incident and lane closure scenarios on I-4 and with real-time information provided. The toll roads were found to be a viable alternative to I-4 for these specific OD pairs depending on the user perception of the toll cost which was reflected in their specific travel times. However, on the macroscopic level, it was concluded that route diversion through toll reduction or elimination on surrounding toll roads would only have a minimum impact on reducing I-4 congestion during the peak period.

Keywords: congestion pricing, dynamic feedback assignment, microsimulation, paramics, route diversion

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Authors: Vinícius L. L. Morrone, David Douek, Helder M. F. Pereira, Bernadete L. M. Grandolpho

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This work aimed to identify the relationships between the level of consumer environmental awareness and their search for sustainable properties, as well as to understand the main sustainability structures considered by these consumers during the decision process. Additionally, the paper looked up to the influence environmental awareness and financial status have over the disposition of buyers to pay more for sustainable properties. To achieve these objectives, 318 questionnaires were answered electronically, after being sent to the Green Building Brazil email basis, as to other Real Estate developers client basis. From all the questionnaires answered, 71 were discarded, leaving a total amount of 247 admitted questionnaires to be analyzed. The responses were evaluated based on the theory of consumer decision making, especially on the influence factors of this process. The data were processed using a PLS model, using the R software. The results have shown that the level of consumer environmental awareness effectively affects the consumer’s will of acquiring a sustainable property or, at least, a property with some environmental friendly structures. The consumer’s environmental awareness also positively impacts the importance consumers give to individual environmental friendly structures. Also, as a consumer value to those individual structures raises, it is also observed a raise in his will to buy a sustainable property. Additionally, the impact of consumer’s environmental awareness and financial status over the willingness to pay more for a property with those attributes. The results indicate that there was no relationship between consumers' environmental awareness and their willingness to pay more for a sustainable property. On the other hand, the financial status and the family income of the consumers showed a positive relation with the willingness to pay more for a sustainable property. This indicates that consumers with better financial conditions, which according to the analysis do not necessarily have a greater environmental awareness, are those who are willing to pay more for a sustainable property. Thus, this study indicates that, even if the environmental awareness impact positively the demand for sustainable structures and properties, this impact is not price reflected, due to the price elasticity of the consumption, especially for a category of lower income consumers. This paper adds to the literature in the way it projects some guidelines to the consumer’s decision process in the Real Estate market in emerging economies, as well as it presents some drivers to pricing decisions.

Keywords: consumer behavior, environmental awareness, real estate pricing, sustainable buildings

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Authors: Piyush Bajpai, Sneha Pandey

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Mumbai’s Dhobighat, 150 year old largest open laundry in the world, is the true live-work place and only source of income for some of Mumbai’s highest density ‘urban poor’ residents. The regeneration of Dhobighat, due to its ultra prime location and complex socio-political culture has been a complex issue. This once flourishing urban industrial core has been degrading for the past several decades mainly due to the decline of the open laundry business, the site’s over burdened infrastructure and conflicting socio-political and economic forces. The phenomena of ‘exaptation’ or ‘co-option’ has been observed by evolutionary biologists as a process responsible for producing highly tenacious and resilient offsprings within a species. The reddish egret uses its wings to cast shadow in shallow waters to attract small fish and hunt them. An unrelated feature used opportunistically to produce a very favorable result. How can this idea of co-option be applied to resolve the complex issue of Dhobighat’s regeneration? Our paper proposes a new methodology/approach for the regeneration of Dhobighat through the lens of evolutionary biology. Forces and systems (social, political, economic, cultural and ecological) that seem conflicting or unrelated by nature are opportunistically transformed into symbiotic and complimentary relationships that produce an inclusive, resilient and holistic solution for the regeneration of Dhobighat.

Keywords: urban regeneration, exaptation, resilience, Dhobighat, Mumbai

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Authors: Natanya Meyer, Johann Landsberg

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Unemployment among the youth is a significant problem in South Africa. Large corporations and the public sector simply cannot create enough jobs. Too many youths in South Africa currently do not consider entrepreneurship as an option in order to become independent. Unlike the youth of the Netherlands, South African youth prefer to find employment in the public or private sector. The Netherlands has a much lower unemployment rate than South Africa and the Dutch are generally very entrepreneurial. From early on entrepreneurship is considered a desirable career option in the Netherlands. The purpose of this study was to determine whether there is a difference in the perceptions of some Dutch and South African students in terms of unemployment and entrepreneurship. Questionnaires were distributed to students at the North West University's Vaal Triangle campus in Vanderbijlpark in Gauteng, South Africa and the Technical University of Delft in the Netherlands. A descriptive statistical analysis approach was followed and the means for the independent questions were calculated. The results demonstrate that the Dutch students are not as concerned about unemployment after completion of their studies as this is not as significant a problem as it is in South Africa. Both groups had positive responses towards the posed questions, but the South African group felt more strongly about the issues. Both groups of students felt that there was a need for more practical entrepreneurship training. The South African education system should focus on practical entrepreneurship training from a young age.

Keywords: entrepreneurship development, entrepreneurship development programmes, entrepreneurship intention, Netherlands, South Africa, unemployment

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Authors: Igna Brajević Gizdić, Gorka Vuletić

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Introduction: Addiction is a chronic brain relapsing disorder. Opioid Substitution Therapy (OST) using buprenorphine as a medical treatment option shows as a promising option for achieving and maintaining abstinence in opioid-addicted patients. This research aimed to determine and evaluate the quality of life (QoL) in opiate-addicted patients after five years of buprenorphine therapy. Method: The total sample included 44 buprenorphine-maintained opiate addicts in outpatient treatment. The participants were administered the QoL questionnaire (WHOQOL-BREF) at two-time points (T1 and T2) with an interval of at least five years. WHOQOL-BREF contains a total of 26 questions. The first two questions, related to overall QoL and general health status, and the remaining questions (3–26), which represented four domains—physical, psychological, social, and environmental health—were evaluated separately. Results: The results indicated no significant differences in overall self-assessed QoL nor in individual domains after five years (T2) of abstinence with OST buprenorphine- maintenance. Conclusion: These findings indicated no improvement in QoL of buprenorphine-maintenance opiate addicts in outpatient treatment. However, this might be due to the smaller sample size and participants' overall high scores in QoL at T1. This study suggests the importance of expectations when considering the QoL and general health of buprenorphine-maintenance opiate addicts in outpatient treatment.

Keywords: abstinence, addicts, buprenorphine, opioid substitution therapy, quality of life

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Authors: Jianlin Wang, Jiajia Zhao

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This paper applies the theory and empirical method to examine the relationship between electricity price and coal price, as well as electricity and industry output, for China during Jan 1999-Dec 2012. Our results indicate that there is no any causality between coal price and electricity price under other factors are controlled. However, we found a bi-directional causality between electricity consumption and industry output. Overall, the electricity price set by China’s NDRC is inefficient, which lead to the electricity supply shortage after 2004. It is time to reform electricity price system for China’s reformers.

Keywords: electricity price, coal price, power supply, China

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Authors: Demisash, Abate Getnet, Gudisa, Ababo Geleta, Daba, Berhane Olani

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As consumption trends of fish are rising in Ethiopia, assessment of the environmental performance of Fisheries becomes vital. Hence, Cleaner Production Assessment was conducted on Lake Tana No.1 Fish Supply Association. This paper focuses on determining the characteristics, quantity, and setting up cleaner production options for the site with the experimental investigation. The survey analysis showed that illegal waste dumping in Lake Tana is common practice in the area, and some of the main reasons raised were they have no option than doing this for dis-charging fish wastes. Quantifying a fish waste by examination of records at the point of generation resulted in a generation rate of 72,822.61 kg per year, which is a significant amount of waste and needs management system. The result of the proximate analysis showed high free fat content of about 12.33%, and this was a good candidate for the production of biodiesel that has been set as an option for fish waste utilization. Among the different waste management options, waste reduction by product optimization, which involves biodiesel production, was chosen as a potential method. Laboratory scale experiments were performed to produce a renewable energy source from the wastes. The resulting biodiesel was characterized and found to have a density of 0.756kg/L, viscosity 0.24p, and 153°C flashpoints, which shows the product has values in compliance with the American Society for Testing and Materials (ASTM) standards.

Keywords: biodiesel, cleaner production, renewable energy, waste management

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Authors: Athina Thanou, Eirini Eleni Tsiropoulou, Symeon Papavassiliou

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The problem of museum visitor experience and congestion management – in various forms - has come increasingly under the spotlight over the last few years, since overcrowding can significantly decrease the quality of visitors’ experience. Evidence suggests that on busy days the amount of time a visitor spends inside a crowded house museum can fall by up to 60% compared to a quiet mid-week day. In this paper we consider the aforementioned problem, by treating museums as evolving social systems that induce constraints. However, in a cultural heritage space, as opposed to the majority of social environments, the momentum of the experience is primarily controlled by the visitor himself. Visitors typically behave selfishly regarding the maximization of their own Quality of Experience (QoE) - commonly expressed through a utility function that takes several parameters into consideration, with crowd density and waiting/visiting time being among the key ones. In such a setting, congestion occurs when either the utility of one visitor decreases due to the behavior of other persons, or when costs of undertaking an activity rise due to the presence of other persons. We initially investigate how visitors’ behavioral risk attitudes, as captured and represented by prospect theory, affect their decisions in resource sharing settings, where visitors’ decisions and experiences are strongly interdependent. Different from the majority of existing studies and literature, we highlight that visitors are not risk neutral utility maximizers, but they demonstrate risk-aware behavior according to their personal risk characteristics. In our work, exhibits are organized into two groups: a) “safe exhibits” that correspond to less congested ones, where the visitors receive guaranteed satisfaction in accordance with the visiting time invested, and b) common pool of resources (CPR) exhibits, which are the most popular exhibits with possibly increased congestion and uncertain outcome in terms of visitor satisfaction. A key difference is that the visitor satisfaction due to CPR strongly depends not only on the invested time decision of a specific visitor, but also on that of the rest of the visitors. In the latter case, the over-investment in time, or equivalently the increased congestion potentially leads to “exhibit failure”, interpreted as the visitors gain no satisfaction from their observation of this exhibit due to high congestion. We present a framework where each visitor in a distributed manner determines his time investment in safe or CPR exhibits to optimize his QoE. Based on this framework, we analyze and evaluate how visitors, acting as prospect-theoretic decision-makers, respond and react to the various pricing policies imposed by the museum curators. Based on detailed evaluation results and experiments, we present interesting observations, regarding the impact of several parameters and characteristics such as visitor heterogeneity and use of alternative pricing policies, on scalability, user satisfaction, museum capacity, resource fragility, and operation point stability. Furthermore, we study and present the effectiveness of alternative pricing mechanisms, when used as implicit tools, to deal with the congestion management problem in the museums, and potentially decrease the exhibit failure probability (fragility), while considering the visitor risk preferences.

Keywords: museum resource and visitor management, congestion management, propsect theory, cyber physical social systems

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Authors: Aniket S. Joshi, Aditya R. Mane, Arjun Tukaram

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In the 21st century, in the era of e-world, people are continuously getting updated by daily information such as weather conditions, news, stock exchange market updates, new projects, cricket updates, sports and other such applications. In the busy situation, they want this information on the little use of keyboard, time. Today in order to get such information user have to repeat same mouse and keyboard actions which includes time and inconvenience. In India due to rural background many people are not much familiar about the use of computer and internet also. Also in small clinics, small offices, and hotels and in the airport there should be a system which retrieves daily information with the minimum use of keyboard and mouse actions. We plan to design application based project that can easily retrieve information with minimum use of keyboard and mouse actions and make our task more convenient and easier. This can be possible with an image processing application which takes real time hand gestures which will get matched by system and retrieve information. Once selected the functions with hand gestures, the system will report action information to user. In this project we use real time hand gesture movements to select required option which is stored on the screen in the form of RSS Feeds. Gesture will select the required option and the information will be popped and we got the information. A real time hand gesture makes the application handier and easier to use.

Keywords: hand detection, hand tracking, hand gesture recognition, HSV color model, Blob detection

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Authors: Dimitrios J. Dimitriou

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Considering a worldwide tendency, air transports are growing very fast and many changes have taken place in planning, management and decision making process. Given the complexity of airport operation, the best use of existing capacity is the key driver of efficiency and productivity. This paper deals with the evaluation framework for the ground access at airports, by using a set of mode choice indicators providing key messages towards airport’s ground access performance. The application presents results for a sample of 12 European airports, illustrating recommendations to define policy and improve service for the air transport access chain.

Keywords: airport ground access, air transport chain, airport access performance, airport policy

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Authors: S. J. M. Mohd Saleh, S. Guo

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Composite materials have become an important option for the primary structure of aircraft due to their design flexibility and ability to improve the overall performance. At present, the option for composite usage in aircraft component is largely based on experience, knowledge, benchmarking and partly market driven. An inevitable iterative design during the design stage and validation process will increase the development time and cost. This paper aims at presenting the correlation between laminate and composite thin-wall beam structure, which contains the theoretical and numerical investigations on stiffness estimation of composite aerostructures with applications to aircraft wings. Classical laminate theory and thin-walled beam theory were applied to define the correlation between 1-dimensional composite laminate and 2-dimensional composite beam structure, respectively. Then FE model was created to represent the 3-dimensional structure. A detailed study on stiffness matrix of composite laminates has been carried out to understand the effects of stacking sequence on the coupling between extension, shear, bending and torsional deformation of wing box structures for 1-dimensional, 2-dimensional and 3-dimensional structures. Relationships amongst composite laminates and composite wing box structures of the same material have been developed in this study. These correlations will be guidelines for the design engineers to predict the stiffness of the wing box structure during the material selection process and laminate design stage.

Keywords: aircraft design, aircraft structures, classical lamination theory, composite structures, laminate theory, structural design, thin-walled beam theory, wing box design

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Authors: Kingsley Okoro Nwannennaya

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The 21st century seems to have been eclipsed by social conflict, giving vent to a mentality construct that accepts conflict as inextricable part of the social system. This is justified by the escalation of conflict in all the zones of the world. We therefore, query whether a peaceful society is a mere illusion? It is in an attempt to give lucid answer to this question that the researcher began critical investigations on various peace building and conflict management models. Here the researcher discovered that these models as good as they may be have not addressed the root of conflicts which revolves on the social structure in place in any society. Hence the current social structure is organized around class system, which gave birth to competition, greed, selfishness, power struggle etc. and also promotes mono-culture based on Euro-American traditions. This placed some cultures on a disadvantageous position, with conflict as its outgrowth. However, the researcher being interested to finding a peace building and conflict management model that will address this gap discovered that Taoism has the seed that can offer the world the desired peace. This tradition anchors on the principles of Tao, Yin-yang and Wu-wei. Basic to the trio concepts are the idea of Pluralism, non-interference, non-action and flowing with the order of nature. This paper, having adopted, historical and sociological methods of investigations opines that if Taoist tradition shall be adopted as a peace building model, the desired peace of our dream shall soon become a reality.

Keywords: critical option, oriental traditions, peace initiative, taoism

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Authors: S. Doyle, G. A. Aggidis

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Wave energy converter technologies continue to show good progress in worldwide research. One of the most researched technologies, the Oscillating Water Column (OWC), is arguably one of the most popular categories within the converter technologies due to its robustness, simplicity and versatility. However, the versatility of the OWC is still largely untapped with most deployments following similar trends with respect to applications and operating systems. As the competitiveness of the energy market continues to increase, the demand for wave energy technologies to be innovative also increases. For existing wave energy technologies, this requires identifying areas to diversify for lower costs of energy with respect to applications and synergies or integrated systems. This paper provides a review of all OWCs systems integrated into alternative applications in the past and present. The aspects and variation in their design, deployment and system operation are discussed. Particular focus is given to the Multi-OWCs (M-OWCs) and their great potential to increase capture on a larger scale, especially in synergy applications. It is made clear that these steps need to be taken in order to make wave energy a competitive and viable option in the renewable energy mix as progression to date shows that stand alone single function devices are not economical. Findings reveal that the trend of development is moving toward these integrated applications in order to reduce the Levelised Cost of Energy (LCOE) and will ultimately continue in this direction in efforts to make wave energy a competitive option in the renewable energy mix.

Keywords: wave energy converter, oscillating water column, ocean energy, renewable energy

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Authors: Oriyomi M. Okeyinka, David A. Oloke, Jamal M. Khatib

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Large quantities of solid wastes being generated worldwide from sources such as household, domestic, industrial, commercial and construction demolition activities, leads to environmental concerns. Utilization of these wastes in making building construction materials can reduce the magnitude of the associated problems. When these waste products are used in place of other conventional materials, natural resources and energy are preserved and expensive and/or potentially harmful waste disposal is avoided. Recycling which is regarded as the third most preferred waste disposal option, with its numerous environmental benefits, stand as a viable option to offset the environmental impact associated with the construction industry. This paper reviews the results of laboratory tests and important research findings, and the potential of using these wastes in building construction materials with focus on sustainable development. Research gaps, which includes; the need to develop standard mix design for solid waste based building materials; the need to develop energy efficient method of processing solid waste use in concrete; the need to study the actual behavior or performance of such building materials in practical application and the limited real life application of such building materials have also been identified. Therefore a research is being proposed to develop an environmentally friendly, lightweight building block from recycled waste paper, without the use of cement, and with properties suitable for use as walling unit. This proposed research intends to incorporate, laboratory experimentation and modeling to address the identified research gaps.

Keywords: recycling, solid wastes, construction, building materials

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Authors: Jongbae Lee, Seongsoo Lee

Abstract:

Modern sensors often embed small-size digital controller for sensor control, value calibration, and signal processing. These sensors require digital data communication with host microprocessors, but conventional digital communication protocols are too heavy for price reduction. SAE J2716 SENT (single edge nibble transmission) protocol transmits direct digital waveforms instead of complicated analog modulated signals. In this paper, a SENT interface is designed in Verilog HDL (hardware description language) and implemented in FPGA (field-programmable gate array) evaluation board. The designed SENT interface consists of frame encoder/decoder, configuration register, tick period generator, CRC (cyclic redundancy code) generator/checker, and TX/RX (transmission/reception) buffer. Frame encoder/decoder is implemented as a finite state machine, and it controls whole SENT interface. Configuration register contains various parameters such as operation mode, tick length, CRC option, pause pulse option, and number of nibble data. Tick period generator generates tick signals from input clock. CRC generator/checker generates or checks CRC in the SENT data frame. TX/RX buffer stores transmission/received data. The designed SENT interface can send or receives digital data in 25~65 kbps at 3 us tick. Synthesized in 0.18 um fabrication technologies, it is implemented about 2,500 gates.

Keywords: digital sensor interface, SAE J2716, SENT, verilog HDL

Procedia PDF Downloads 268

Authors: Allyne Topaz

Abstract:

Intraoral dehiscence compromises free fibula flaps following mandibular reconstruction. Salivary contamination risks thrombosis of microvascular anastomosis and hardware infection. The superficial temporal artery islandized flap (STAIF) offers an efficient, non-microsurgical reconstructive option for regaining intraoral competency for a time sensitive complication. Methods: The STAIF flap is based on the superficial temporal artery coursing along the anterior hairline. The flap is mapped with assistance of the doppler probe. The width of the skin paddle is taken based on the ability to close the donor site. The flap is taken down to the level of the zygomatic arch and tunneled into the mouth. Results: We present a case of a patient who underwent mandibular reconstruction with a free fibula flap after a traumatic shotgun wound. The patient developed repeated intraoral dehiscence following failed local buccal and floor of mouth flaps leading to salivary contamination of the flap and hardware. The intraoral dehiscence was successfully salvaged on the third attempt with a STAIF flap. Conclusions: Intraoral dehiscence creates a complication requiring urgent attention to prevent loss of free fibula flap after mandibular reconstruction. The STAIF is a non-microsurgical option for restoring intraoral competency. This robust, axially vascularized skin paddle may be split for intra- and extra-oral coverage, as needed and can be an important tool in the reconstructive armamentarium.

Keywords: free fibula flap, intraoral dehiscence, mandibular reconstruction, superficial temporal artery islandized flap

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Authors: Ahmed M. Gad, Ahmed S. Hweidi

Abstract:

Background: Defects of the little finger and adjacent areas are not uncommon. It could be a traumatic, post-burn, or after contracture release. Different options could be used for resurfacing these defect, including skin grafts, local or regional flaps. Ulnar para-metacarpal flap described by Bakhach in 1995 based on the distal division of the dorsal branch of the ulnar artery considered a good option for that. In this work, we applied the concept of propeller flap for better mobilization and in-setting of the ulnar para-metacarpal flap. Methods: The study included 15 cases with 4 females and 11 male patients. 10 of the patients had severe post-burn contractures of little finger, and 5 had post-traumatic little finger defects. Contractures were released and resulting soft tissue defects were reconstructed with propeller ulnar para-metacarpal artery flap. The flap based on two main perforators communicating with the palmar system, it was raised based on one of them depending on the extent of the defect and rotated 180 degrees after judicious dissection of the perforator. Results: 13 flaps survived completely, one of the cases developed partial skin loss, which healed by dressing, another flap was completely lost and covered later by a full-thickness skin graft. Conclusion: Ulnar para-metacarpal flap is a reliable option to resurface the little finger as well as adjacent areas. The application of the propeller flap concept based on whether the proximal or distal communicating branch makes the rotation and in-setting of the flap easier.

Keywords: little finger defects, propeller flap, regional hand defects, ulnar parametacarpal flap

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Authors: Sofina Faith C. Navarro, Luke V. Subala, Rica H. Gatus, Alfonzo Ramon DG. Burguete

Abstract:

Roof tiles, as integral components of buildings, play a crucial role in protecting structures from many things. The study focuses on the production of sustainable roof tiles that address the waste disposal challenges associated with Manila clam shells and mitigate the environmental impact of conventional roof tile materials. Various concentrations of roof tiles are developed, incorporating different proportions of powdered clam shell that contains calcium carbonate and shredded raffia palm fiber. Subsequently, the roof tiles are cast using standard methods and transported to the University of the Philippines Institute of Civil Engineering (UP-ICE) for flexural strength testing. In conclusion, the research aimed to assess the flexural durability of concrete roof tiles with varying concentrations of Raffia Palm Fiber and Manila Clam Shells additives. The findings indicate notable differences in maximum load capacities among the specimens, with C3.1 emerging as the concentration with the highest load-bearing capacity at 313.59729 N. This concentration, with a flexural strength of 2.15214, is identified as the most durable option, with a slightly heavier weight of 1.10 kg. On the other hand, C2.2, with a flexural strength of 0.366 and a weight of 0.80 kg, is highlighted for its impressive durability performance while maintaining a lighter composition. Therefore, for the production of concrete roof tile, C3.1 is recommended for optimal durability, while C2.2 is suggested as a preferable option considering both durability and lightweight characteristics.

Keywords: raffia palm fiber, flexural strength, lightweightness, Manila Clam Shells

Procedia PDF Downloads 36

Authors: Alfonzo Ramon Burguete, Rica Gatus, Sofina Faith Navarro, Luke Subala

Abstract:

Roof tiles, as integral components of buildings, play a crucial role in protecting structures from many things. The study focuses on the production of sustainable roof tiles that address the waste disposal challenges associated with Manila clam shells and mitigate the environmental impact of conventional roof tile materials. Various concentrations of roof tiles are developed, incorporating different proportions of powdered clam shell that contains calcium carbonate and shredded raffia palm fiber. Subsequently, the roof tiles are cast using standard methods and transported to the University of the Philippines Institute of Civil Engineering (UP-ICE) for flexural strength testing. In conclusion, the research aimed to assess the flexural durability of concrete roof tiles with varying concentrations of Raffia Palm Fiber and Manila Clam Shells additives. The findings indicate notable differences in maximum load capacities among the specimens, with C3.1 emerging as the concentration with the highest load-bearing capacity at 313.59729 N. This concentration, with a flexural strength of 2.15214, is identified as the most durable option, with a slightly heavier weight of 1.10 kg. On the other hand, C2.2, with a flexural strength of 0.366 and a weight of 0.80 kg, is highlighted for its impressive durability performance while maintaining a lighter composition. Therefore, for the production of concrete roof tile C3.1 is recommended for optimal durability, while C2.2 is suggested as a preferable option considering both durability and lightweight characteristics.

Keywords: manila clam shells, raffia palm fiber, flexural strength, lightweightness

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Authors: Bita Mashayekhi, Mohammad Ara

Abstract:

The purpose of this study is to provide some empirical evidence about implementing Activity-Based Costing (ABC) in the hospitality industry in Iran. For this purpose, we consider the Tabriz International Hotel as our sample hotel and then gather the relevant data from its cost accounting system in 2012. Then, we use ABC as our costing method and compare the cost of each service unit with that cost which had been extracted for the traditional costing method. The results show a different cost per unit for two methods. Also, because of its more precise and detailed provided information, an ABC system facilitates the decision-making process for managers on decisions related to profitability analysis, budgeting, pricing, and so on.

Keywords: Activity-Based Costing (ABC), activity, cost driver, hospitality industry

Procedia PDF Downloads 277

Authors: K. J. Keerthi, Vasundhara Kamineni, A. Ravi Shanker, T. Rammurthy, A. Vijaya Lakshmi, Q. Hasan

Abstract:

Pancreatic β-cells are the predominant insulin-producing cell types within the Islets of Langerhans and insulin is the primary hormone which regulates carbohydrate and fat metabolism. Apoptosis of β-cells or insufficient insulin production leads to Diabetes Mellitus (DM). Current therapy for diabetes includes either medical management or insulin replacement and regular monitoring. Replacement of β- cells is an attractive treatment option for both Type-1 and Type-2 DM in view of the recent paper which indicates that β-cells apoptosis is the common underlying cause for both the Types of DM. With the development of Edmonton protocol, pancreatic β-cells allo-transplantation became possible, but this is still not considered as standard of care due to subsequent requirement of lifelong immunosuppression and the scarcity of suitable healthy organs to retrieve pancreatic β-cell. Fetal pancreatic cells from abortuses were developed as a possible therapeutic option for Diabetes, however, this posed several ethical issues. Hence, in the present study Mesenchymal stem cells (MSCs) were differentiated into insulin producing cells which were isolated from Human Umbilical cord (HUC) tissue. MSCs have already made their mark in the growing field of regenerative medicine, and their therapeutic worth has already been validated for a number of conditions. HUC samples were collected with prior informed consent as approved by the Institutional ethical committee. HUC (n=26) were processed using a combination of both mechanical and enzymatic (collagenase-II, 100 U/ml, Gibco ) methods to obtain MSCs which were cultured in-vitro in L-DMEM (Low glucose Dulbecco's Modified Eagle's Medium, Sigma, 4.5 mM glucose/L), 10% FBS in 5% CO2 incubator at 37°C. After reaching 80-90% confluency, MSCs were characterized with Flowcytometry and Immunocytochemistry for specific cell surface antigens. Cells expressed CD90+, CD73+, CD105+, CD34-, CD45-, HLA-DR-/Low and Vimentin+. These cells were differentiated to β-cells by using H-DMEM (High glucose Dulbecco's Modified Eagle's Medium,25 mM glucose/L, Gibco), β-Mercaptoethanol (0.1mM, Hi-Media), basic Fibroblast growth factor (10 µg /L,Gibco), and Nicotinamide (10 mmol/L, Hi-Media). Pancreatic β-cells were confirmed by positive Dithizone staining and were found to be functionally active as they released 8 IU/ml insulin on glucose stimulation. Isolating MSCs from usually discarded, abundantly available HUC tissue, expanding and differentiating to β-cells may be the most feasible cell therapy option for the millions of people suffering from DM globally.

Keywords: diabetes mellitus, human umbilical cord, mesenchymal stem cells, differentiation

Procedia PDF Downloads 236