Search results for: food price

Authors: Khosro Ghazvinian, Touba Khodaeian

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To improve the oxidative stability of meat products, the use of dietary form of antioxidants can extend the shelf life and acceptability of muscle food during exposition or storage condition. As shown, this method is more effective than adding direct preservatives due to uniform incorporation of dietary additives into sub cellular membrane and therefore, they can properly inhibit the oxidative reaction at their localized sites. Furthermore, postmortem addition of antioxidants to meat cannot directly inhibit the oxidation in membrane phospholipids. Therefore, this study was designed to evaluate the effects of feed supplementation with Melissa officinalis leaves on lipid peroxidation of chicken breast fillets during refrigerated storage. In this study, 72 one-day old Ross 308 broilers distributed in four groups with six replicates (3 chickens each) were fed a basal diet (CONT) or basal diet supplemented with 5, 10, and 15 gr/Kg M.officinalis, for 6 weeks. Following slaughter, fillets from breast were stored at 4 °C in the dark for 12 days, and lipid oxidation was assessed on the basis of thiobarbituric acid reactive substances (TBARS) formed. Results showed that incorporation of M.officinalis in broiler diets delayed lipid oxidation in raw breast meat during refrigerated storage comparative with CONT(p<0.05). In this regard, TBARS levels of breast samples containing higher concentrations (10 and 15 gr/Kg) of M. officinalis (625.43 and 504.32 µg/kg MDA equivalents, respectively )were significantly lower than those of control and 5g/kg samples (872.75 and 841.32 µg/kg MDA equivalents, respectively) (p<0.05). Therefore, M. officinalis might be utilized in novel applications as a nutritional supplement or a functional food component.

Keywords: breast fillet, lipid oxidation, Melissa officinalis, TBARS assay

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Authors: Farideh Tabatabei-Yazdi, Fereshteh Falah, Alireza Vasiee

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Nowadays, production of functional foods has become very essential. Inulin is one of the most functional hydrocolloid compounds used in such products. In the present study, the production of a synbiotic yogurt containing 1, 2.5, and 5% (w/v) inulin has been investigated. The yogurt was fermented with Lactobacillus brevis PML1 derived from Tarkhineh, an Iranian cereal-dairy fermented food. Furthermore, the physicochemical properties, antioxidant activity, sensory attributes, and microbial viability properties were investigated on the 0th, 7th, and 14th days of storage after fermentation. The viable cells of L. brevis PML1 reached 108 CFU/g, and the product resisted to simulated digestive juices. Moreover, the synbiotic yogurt impressively increased the production of antimicrobial compounds and had the most profound antimicrobial effect on S. typhimurium. The physiochemical properties were in the normal range, and the fat content of the synbiotic yogurt was reduced remarkably. The antioxidant capacity of the fermented yogurt was significantly increased (p<0:05), which was equal to those of DPPH (69:18±1:00%) and BHA (89:16±2:00%). The viability of L. brevis PML1 was increased during storage. Sensory analysis showed that there were significant differences in terms of the impressive parameters between the samples and the control (p<0:05). Addition of 2.5% inulin not only improved the physical properties but also retained the viability of the probiotic after 14 days of storage, in addition to the viability of L. brevis with a viability count above 6 log CFU/g in the yogurt. Therefore, a novel synbiotic product containing L. brevis PML1, which can exert the desired properties, can be used as a suitable carrier for the delivery of the probiotic strain, exerting its beneficial health effects.

Keywords: functional food, lactobacillus brevis, symbiotic yogurt, physiochemical properties

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Authors: Deepika, Kashika Kapoor, Nistha Khanna, Lakshmi, Archna Kumar

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Plant-parasitic nematodes cause major loss in global food production and destroying at least 21.3% of food annually. About 4100 species of plant-parasitic nematodes are reported, out of this, Meloidogyne species is prominent and worldwide in distribution. Observing the harmful effects of chemical based nematicides, there is a great need for an eco-friendly, highly efficient, sustainable control measure for Meloidogyne. Therefore, In vitro study was carried out to observe the impact of volatile cues obtained from the Tagetes erecta leaves on plant parasitic nematodes. Volatile cues were collected from marigold leaves. For chemical characterization, GCMS (Gas Chromatography Mass Spectrometry) profiling was conducted. VOCs (Volatile Organic Compounds) profile of marigold indicated the presence of several types of alkanes, alkenes varying in number and quantity. Status of nematodes population by counting the live and dead individuals after applying a definite volume (100µl) of extract was recorded at different concentrations (100%, 50%, 25%) with contrast of control (hexane) during different time durations i.e.,24hr, 48hr and 72hr. Result indicated that mortality increases with increasing time (72hr) and concentration (100%) i.e., 50%. Thus, application of prominent compound present in Marigold in pure form may be tested individually or in combination to find out the most efficient active compound/s, which may be highly useful in eco-friendly management of targeted plant parasitic nematode.

Keywords: plant-parasitic nematode, meloidogyne, tagetes erecta, volatile organic compounds

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Authors: Prima Luna, Afroditi Chatzifragkou, Dimitris Charalampopoulos

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Sorghum byproducts, namely bran, stalk, and panicle are examples of lignocellulosic biomass. These raw materials contain large amounts of polysaccharides, in particular hemicelluloses, celluloses, and lignins, which if efficiently extracted, can be utilised for the development of a range of added value products with potential applications in agriculture and food packaging sectors. The aim of this study was to characterise fractions extracted from sorghum bran and stalk with regards to their physicochemical properties that could determine their applicability as food-packaging materials. A sequential alkaline extraction was applied for the isolation of cellulosic, hemicellulosic and lignin fractions from sorghum stalk and bran. Lignin content, phenolic content and antioxidant capacity were also investigated in the case of the lignin fraction. Thermal analysis using differential scanning calorimetry (DSC) and X-Ray Diffraction (XRD) revealed that the glass transition temperature (T_g) of cellulose fraction of the stalk was ~78.33 ^oC at amorphous state (~65%) and water content of ~5%. In terms of hemicellulose, the T_g value of stalk was slightly lower compared to bran at amorphous state (~54%) and had less water content (~2%). It is evident that hemicelluloses generally showed a lower thermal stability compared to cellulose, probably due to their lack of crystallinity. Additionally, bran had higher arabinose-to-xylose ratio (0.82) than the stalk, a fact that indicated its low crystallinity. Furthermore, lignin fraction had T_g value of ~93 ^oC at amorphous state (~11%). Stalk-derived lignin fraction contained more phenolic compounds (mainly consisting of p-coumaric and ferulic acid) and had higher lignin content and antioxidant capacity compared to bran-derived lignin fraction.

Keywords: alkaline extraction, bran, cellulose, hemicellulose, lignin, stalk

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Authors: Anita Blagojević

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It is well known that the terrorist attacks on the New York City and Washington, D.C. prompted unprecedented international action to enhance international cooperation in the prevention and suppression of terrorism. In the months (and years) after September 11, the world community focused on two main efforts: first, on efforts to bring those responsible for terrorist attacks to justice, and second, on efforts to prevent future terrorist attacks. In that sense, many governments took advantage of these efforts to strengthen their national security. In that process, however, human rights and civil liberties of certain groups of people were alleged. As a consequence, part of the price paid for protecting national security against terrorist attacks was the threat of infringement on people's fundamental rights and freedoms. The aim of this paper is to analyze the role of the European Union and the Council of Europe in finding the answer to the one of the main security dilemma for the present era: how to find the balance between the protection of national security and guarantee of the people's rights and fundamental freedoms?

Keywords: terrorism, antiterrorism, European Union, Council of Europe, human rights

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Authors: Rajendra Singh, Krishna Mondal, Chandranath Chatterjee

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The water, energy, and food (WEF) nexus describes the interconnectedness of these three essential elements of human life. Each of these three sectors depends on the others. India's expanding population, urbanization, and industrialization make WEF nexus management difficult. Coupling and coordination degrees can be used as indicators of a complex system's level of sustainable development. Thus, coupling and coordination of WEF sectors in India are essential for achieving Sustainable Development Goals (SDGs) 2 (zero hunger), 6 (clean water and sanitation), and 7 (affordable and clean energy). This study used a newly developed WEF nexus model and the concept of coupling coordination degree model to examine the coupling and coordination degrees of the WEF nexus at India's sub-national scale (States/Union Territories (UTs)) for the years 2011 and 2021. Results indicate that the WEF nexus coupling degree was reasonably stable among the Indian States/UTs in both years, with all having a coupling degree above 0.90, indicating high-quality coupling. However, the degree of coordination varied spatially and temporally from ‘primary development’ to ‘quality development’ for the Indian States/UTs. In 2021, it went from 53% to 14% intermediate development and 44% to 83% good development compared to 2011. Most Indian States/UTs developed SDG2 more than SDG6 and SDG7. This study also suggests that most States/UTs must implement WEF-related policies and programmes effectively to achieve quality coordinated WEF nexus development. This study may help administrators and policymakers identify States/UTs that need more attention to implement existing or new policies for achieving SDGs 2, 6, and 7.

Keywords: WEF nexus model, Pardee-RAND WEF nexus, sustainable development, policy

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Authors: Adenike O. Olatunji-Akioye, Emmanual B Farayola

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In order to improve the animal protein recommended daily intake of Nigerians, there is an upsurge in breeding of hitherto shunned food animals one of which is the rabbit. Radiography and ultrasonography are tools for diagnosing disease and evaluating the anatomical architecture of parts of the body non-invasively. As the rabbit is becoming a more important food animal, to achieve improved breeding of these animals, the best of the species form a breeding stock and will usually depend on breeding soundness which may be evaluated by assessment of the male reproductive organs by these tools. Four male intact rabbits weighing between 1.2 to 1.5 kg were acquired and acclimatized for 2 weeks. Dorsoventral views of the testes were acquired using a digital radiographic machine and a 5 MHz portable ultrasound scanner was used to acquire images of the testes in longitudinal, sagittal and transverse planes. Radiographic images acquired revealed soft tissue images of the testes in all rabbits. The testes lie in individual scrotal sacs sides on both sides of the midline at the level of the caudal vertebrae and thus are superimposed by caudal vertebrae and the caudal limits of the pelvic girdle. The ultrasonographic images revealed mostly homogenously hypoechogenic testes and a hyperechogenic mediastinum testis. The dorsal and ventral poles of the testes were heterogeneously hypoechogenic and correspond to the epididymis and spermatic cord. The rabbit is unique in the ability to retract the testes particularly when stressed and so careful and stressless handling during the procedures is of paramount importance. The imaging of rabbit testes can be safely done using both imaging methods but ultrasonography is a better method of assessment and evaluation of soundness for breeding.

Keywords: breeding soundness, rabbit, radiography, ultrasonography

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Authors: Jovana Petrović, Ivana Lončarević, Vesna Tumbas Šaponjac, Biljana Pajin, Danica Zarić

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Pomace, a by-product from fruit processing industry is the potential source of valuable bioactive. Cookies are popular, ready to eat and low price foods; therefore, enrichment of these products is of great importance. In this work, bioactive compounds extracted from cherry pomace, encapsulated in soy and whey proteins, have been incorporated in cookies, replacing 10 (SP10 and WP10) and 15% of wheat flour (SP15 and WP15). Cookie geometry (diameter (D), thickness (T) and spread ratio (D/T)), cookie weight, cookie hardness and cookie surface colour were measured. Sensory characteristics are also examined. The results show that encapsulated cherry pomace bioactives have positively influenced the cookie mass. Diameter, redness (a* value) and cookie hardness increased. Sensory evaluation of cookies, revealed that up to 15% substitution of wheat flour with WP encapsulate produced acceptable cookies similar to the control (100% wheat flour) cookies.

Keywords: cherry pomace, polyphenols, microencapsulation, cookies, physical characteristics

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Authors: Seungmin Chee

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This paper investigates which of the two arguments, conservatism or liquidation option, is a true underlying driver of the asymmetric slope coefficient result regarding the association between earnings and returns. The analysis of the relation between earnings and returns in four mutually exclusive settings segmented by ‘profits vs. losses’ and ‘positive returns vs. negative returns’ suggests that liquidation option rather than conservatism is likely to cause the asymmetric slope coefficient result. Furthermore, this paper documents the temporal changes between Basu period (1963-1990) and post-Basu period (1990-2005). Although no significant change in degree of conservatism or value relevance of losses is reported, stronger negative relation between losses and positive returns is observed in the post-Basu period. Separate regression analysis of each quintile based on the rankings of price to sales ratio and book to market ratio suggests that the strong negative relation is driven by growth firms.

Keywords: conservatism, earnings, liquidation option, returns

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Authors: Nani Mchedlishvili, Nino Omiadze, Marine Abutidze, Jose Neptuno Rodriguez-Lopez, Tinatin Sadunishvili, Nikoloz Pruidze, Giorgi Kvesitadze

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Recently, there is an increased interest in the development of food natural colorants as alternatives to synthetic dyes because of both legislative action and consumer concern. Betalains are widely used in the food industry as an alternative of synthetic colorants. The interest of betalains are caused not only by their coloring effect but also by their beneficial properties. The aim of the work was to study of stability of crude and purified red pigments of pokeberry (Phytolacca america L.). The pokeberry fruit juice was filtrated and concentrated by rotary vacuum evaporator up to 25% and the concentrated juice was passed through the Sepadex-25(fine) column (20×1.1 cm). From the column the pigment elution rate was 18 ml/hr. 1.5ml fractions of pigment were collected. In the fractions the coloring substances were determined using CuS04 x 7 H2O as a standard. From the Sephadex G-25 column only one fraction of the betalain red pigment was eluted with the absorption maximum at 538 nm. The degree of pigment purification was 1.6 and pigment yield from the column was 15 %. It was shown that thermostability of pokeberry fruit red pigment was significantly decreased after the purification. For example, during incubation at 100C for 10 min crude pigment retained 98 % of its color while under the same conditions only 72% of the color of purified pigment was retained. The purified pigment was found to be characterized by less storage stability too. The storage of the initial crude juice and the pigment fraction obtained after the gelfiltration for 10 days at 4°C showed the lost of color by 29 and 74 % respectively. From the results obtained, it can be concluded that during the gelfiltration the pokeberry fruit red pigment gets separated from such substances that cause its stabilization in the crude juice.

Keywords: betalains, gelfiltration, pokeberry fruit, stability

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Authors: Ethan Petersen

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In this paper, we analyze the volatility of Apple’s stock beginning January 3, 2005 up to October 9, 2014, then focus on a range from 30 days prior to each product announcement until 30 days after. Product announcements are filtered; announcements whose 60 day range is devoid of other events are separated. This filtration is chosen to isolate, and study, a potential cross-effect. Concerning Apple keynotes, there are two significant dates: the day the invitations to the event are received and the day of the event itself. As such, the statistical analysis is conducted for both invite-centered and event-centered time frames. A comparison to the VIX is made to determine if the trend is simply following the market or deviating. Regardless of the filtration, we find that there is a clear deviation from the market. Comparing these data sets, there are significantly different trends: isolated events have a constantly decreasing, erratic trend in volatility but an increasing, linear trend is observed for clustered events. According to the Efficient Market Hypothesis, we would expect a change when new information is publicly known and the results of this study support this claim.

Keywords: efficient market hypothesis, event study, volatility, VIX

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Authors: Coppa Federica, Iannello Giulia, Pennisi Stefania, Giuffrida Graziella, Lo Faro Riccardo, Cartelli Simone, Ferruggia Greta, Brundo Maria Violetta

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In recent years, a new field of basic research has emerged: the biology and physiology of extracellular vesicles and their application in diagnostics and therapy. In particular, exosomes attract the scientific community as nanovesicles of endosomal origin, which can be secreted by a variety of cells and are found in all biological fluids. Exosomes have recently gained attention also in the cosmetic field: in fact, they are used in creams, serums and masks for topical use, proving to have a series of therapeutic and anti-aging benefits. To date, the oral administration of exosomes is the subject of attention because it represents a non-invasive and efficient method for delivering bioactive molecules into the intestine. We decided to focus our research on the creation of a food supplement that contains various bioactive factors, vitamins, and a new technology called AMPLEX PLUS, containing a mixture of 20 different biologically active factors (GF20) and exosomes isolated and purified from bovine colostrum. We have demonstrated in vitro that this new supplement acts on telomerase, slowing down cell aging. Amplex plus increased the proliferation rate of cells and the addition of it reduced the rate of telomere shortening. Under oxidative stress conditions (H2O2 – induced), the TSR increased; however, treatment with colostrum appeared to attenuate this increase. In particular, after 2 weeks of treatment, AMPLEX plus increased the proliferation rate of cells and exerted a protective effect on telomere length erosion, reducing the rate of its shortening.

Keywords: AMPLEX PLUS, colostrum, exosomes, telomerase

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Authors: Oguz Ugurkan Akkaya, Alpaslan Sipahi, Ozgur Firat Pamukcu, Murat Yasar, Tolga Guler, Arif Ulu, Ferit Cakir

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With the increase in human population, expansion, and renovation of cities, infrastructure systems today need to be manufactured to be more durable and long-lasting. The most cost-effective and durable manufacturing of components is a general problem of all engineering disciplines. Therefore, it is important to determine the most optimal components. This study mainly focuses on the most optimal component design of the polymer concrete. For this purpose, the lower and upper limits of the three main components of the polymer concrete are determined. The effects of these three principal components on the compressive strength, tensile strength, and unit price of polymer concrete are estimated using the response surface method. Box-Behnken Design is used in designing the experiments. Compressive strength, tensile strength, and unit prices are successfully estimated with variance ratios (R²) of 0.82, 0.92, and 0.90, respectively, and the optimum mixture quantity is determined.

Keywords: Box-Behnken Design, compressive strength, mechanical tests, polymer concrete, tensile strength

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Authors: Siri-Orn Champatong

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The objectives of this research were to study the attitude of service marketing mix that affected the decision making behavior to use fitness service in case of the fitness in Thailand. This study employed by survey research and questionnaire was used to collect the data from 400 of consumers who have used the service and interested in using the service in the future. The descriptive statistics and multiple regression analysis were used to analyze data. The results revealed that the attitude toward overall marketing mix was at moderate level. For particulars, attitude toward product and service aspects were at good level, however, attitude toward price, place, promotion, people, physical evidence and service quality aspects were at moderate level. The hypothesis testing results showed that attitude toward each aspect affected word of mouth, however, attitude toward product and service, place, promotion, people and physical evidence affected tendency to use fitness service at .05 statistically significant level.

Keywords: decision making behavior, fitness, marketing mix, marketing service

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Authors: Claudio Lamilla, Andrés Santos, Vicente Llanquinao, Jocelyn Hermosilla, Leticia Barrientos

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The industry in general is very interested in improving and optimizing industrial processes in order to reduce the costs involved in obtaining raw materials and production. Thus, an interesting and cost-effective alternative is the incorporation of bioactive metabolites in such processes, being an example of this enzymes which catalyze efficiently a large number of enzymatic reactions of industrial and biotechnological interest. In the search for new sources of these active metabolites, Antarctica is one of the least explored places on our planet where the most drastic cold conditions, salinity, UVA-UVB and liquid water available are present, features that have shaped all life in this very harsh environment, especially bacteria that live in different Antarctic ecosystems, which have had to develop different strategies to adapt to these conditions, producing unique biochemical strategies. In this work the production of cellulolytic enzymes of seven bacterial strains isolated from marine sediments at different sites in the Antarctic was evaluated. Isolation of the strains was performed using serial dilutions in the culture medium at M115°C. The identification of the strains was performed using universal primers (27F and 1492R). The enzyme activity assays were performed on R2A medium, carboxy methyl cellulose (CMC)was added as substrate. Degradation of the substrate was revealed by adding Lugol. The results show that four of the tested strains produce enzymes which degrade CMC substrate. The molecular identifications, showed that these bacteria belong to the genus Streptomyces and Pseudoalteromonas, being Streptomyces strain who showed the highest activity. Only some bacteria in marine sediments have the ability to produce these enzymes, perhaps due to their greater adaptability to degrade at temperatures bordering zero degrees Celsius, some algae that are abundant in this environment and have cellulose as the main structure. The discovery of new enzymes adapted to cold is of great industrial interest, especially for paper, textiles, detergents, biofuels, food and agriculture. These enzymes represent 8% of industrial demand worldwide and is expected to increase their demand in the coming years. Mainly in the paper and food industry are required in extraction processes starch, protein and juices, as well as the animal feed industry where treating vegetables and grains helps improve the nutritional value of the food, all this clearly puts Antarctic microorganisms and their enzymes specifically as a potential contribution to industry and the novel biotechnological applications.

Keywords: antarctic, bacteria, biotechnological, cellulolytic enzymes

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Authors: P. Nayak, Shakeel Shaikh

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In this paper, we analyse the apparel export performance of Southeast Asian Nations (ASEAN) in the world market. The study covers the 2003-2012 period at the sector as well as product levels (6 digit HS) and analysis is based HS 2002 nomenclature. We measure export similarity among Southeast Asian nations for the apparel sector (two digit HS-61 & 62), besides analysing the products performance in the world through Revealed Comparative Advantage (RCA) technique. Coupled with RCA, the price as a factor of competitiveness was examined from the available Unit Value Realizations (UVR). Further to this, the resource availability or outsourced from the region was considered as an extension to the analysis of competitiveness between the nations. With the help of these methodologies, we examine the degree of competition between the exports of southeast nations in the world market. Our results show that Cambodia, Indonesia, Thailand, and Vietnam are well performing states within ASEAN. The paper further delves into sustainability of the export performing countries within ASEAN.

Keywords: export competitiveness, export similarity index, revealed comparative advantage, unit value realisation

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Authors: Nasiru Medugu Idris

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This research is aimed at assessing the vulnerability of climate change to rural communities (farmers, herdsmen and fishermen) in Nigeria with the view to study the underlying causes and degree of vulnerability to climate change and examine the conflict between farmers and herdsmen as a result of climate change. This research employed the use of quantitative and qualitative means of data gathering techniques as well as physical observations. Six states (Kebbi, Adamawa, Nasarawa, Osun, Ebonyi, and Akwa Ibom) have been selected on the ground that they are key food production areas in the country and are therefore essential to continual food security in the country. So also, they also double as fishing communities in order to aid the comprehensive study of all the effects on climate on farmers and fishermen alike. Community focus group discussions were carried out in the various states for an interactive session and also to have firsthand information on their level of awareness on climate change. Climate data from the Nigerian Meteorological Agency over the past decade were collected for the purpose of analyzing trends in climate. The study observed that the level of vulnerability of rural dwellers most especially farmers, herdsmen and fishermen to climate change is very high due to their socioeconomic, ethnic and historical perspective of their trend. The study, therefore, recommends that urgent step needs to be put in place to help control natural hazards and man-made disasters and serious measures are also needed in order to minimize severe societal, economic and political crises; some of which may either escalate to violent conflicts or could be avoided by efforts of conflict resolution and prevention by the initiation of a process of de-escalation. So this study has recommended the best-fit adaptive and mitigation measures to climate change vulnerability in rural communities of Nigeria.

Keywords: adaptation, farmers, fishermen, herdsmen

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Authors: Ngawang Tsering

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Traditional Tibetan medicine is primarily focused on promoting health and keeping away diseases from its unique in prescribing specific diet and lifestyle. The prevalence of chronic diseases has been rising day by day and kills a number of people due to the lack of proper nutritional design in modern times. According to traditional Tibetan medicine, chronic diseases such as diabetes, cancer, cardiovascular diseases, respiratory diseases, and arthritis are heavily associated with an unwholesome diet and inappropriate lifestyles. Diet and lifestyles are the two main conditions of diseases and healthy life. The prevalence of chronic diseases is one of the challenges, with massive economic impact and expensive health issues. Though chronic diseases are challenges, it has a solution in the preventive measurements by using proper nutrition design based on traditional Tibetan medicine. Until today, it is hard to evaluate whether traditional Tibetan medicine nutrition strategy could play a major role in preventive measurement as of the lack of current research evidence. However, compared with modern nutrition, it has an exclusive valuable concept, such as a holistic way and diet or nutrition recommendation based on different aspects. Traditional Tibetan medicine is one of the oldest ancient existing medical systems known as Sowa Rigpa (Science of Healing) highlights different aspects of dietetics and nutrition, namely geographical, seasonal, age, personality, emotional, food combination, the process of individual metabolism, potency, and amount of food. This article offers a critical perspective on the preventive measurement against chronic diseases through nutrition design using traditional Tibetan medicine and also needs attention for a deeper understanding of traditional Tibetan medicine in the modern world.

Keywords: traditional Tibetan medicine, nutrition, chronic diseases, preventive measurement, holistic approach, integrative

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Authors: Yosra Mefteh Rekik

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A computational agent-based model of financial markets stresses interactions and dynamics among a very diverse set of traders. The growing body of research in this area relies heavily on computational tools which by-pass the restrictions of an analytical method. The main goal of this research is to understand how the stock market operates and behaves how to invest in the stock market and to study traders’ behavior within the context of the artificial stock markets populated by heterogeneous agents. All agents are characterized by adaptive learning behavior represented by the Artificial Neuron Networks. By using agent-based simulations on artificial market, we show that the existence of heterogeneous agents can explain the price dynamics in the financial market. We investigate the relation between market diversity and market efficiency. Our empirical findings demonstrate that greater market heterogeneity play key roles in market efficiency.

Keywords: agent-based modeling, artificial stock market, heterogeneous expectations, financial stylized facts, computational finance

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Authors: Rodrigo Arnaldo Scarpel

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Trend following is a widely accepted investment strategy that adopts a rule-based trading mechanism that rather than striving to predict market direction or on information gathering to decide when to buy and when to sell a stock. Thus, in trend following one must respond to market’s movements that has recently happen and what is currently happening, rather than on what will happen. Optimally, in trend following strategy, is to catch a bull market at its early stage, ride the trend, and liquidate the position at the first evidence of the subsequent bear market. For applying the trend following strategy one needs to find the trend and identify trade signals. In order to avoid false signals, i.e., identify fluctuations of short, mid and long terms and to separate noise from real changes in the trend, most academic works rely on moving averages and other technical analysis indicators, such as the moving average convergence divergence (MACD) and the relative strength index (RSI) to uncover intelligible stock trading rules following trend following strategy philosophy. Recently, some works has applied machine learning techniques for trade rules discovery. In those works, the process of rule construction is based on evolutionary learning which aims to adapt the rules to the current environment and searches for the global optimum rules in the search space. In this work, instead of focusing on the usage of machine learning techniques for creating trading rules, a time series trend classification employing a semi-supervised approach was used to early identify both the beginning and the end of upward and downward trends. Such classification model can be employed to identify trade signals and the decision-making procedure is that if an up-trend (down-trend) is identified, a buy (sell) signal is generated. Semi-supervised learning is used for model training when only part of the data is labeled and Semi-supervised classification aims to train a classifier from both the labeled and unlabeled data, such that it is better than the supervised classifier trained only on the labeled data. For illustrating the proposed approach, it was employed daily trade information, including the open, high, low and closing values and volume from January 1, 2000 to December 31, 2022, of the São Paulo Exchange Composite index (IBOVESPA). Through this time period it was visually identified consistent changes in price, upwards or downwards, for assigning labels and leaving the rest of the days (when there is not a consistent change in price) unlabeled. For training the classification model, a pseudo-label semi-supervised learning strategy was used employing different technical analysis indicators. In this learning strategy, the core is to use unlabeled data to generate a pseudo-label for supervised training. For evaluating the achieved results, it was considered the annualized return and excess return, the Sortino and the Sharpe indicators. Through the evaluated time period, the obtained results were very consistent and can be considered promising for generating the intended trading signals.

Keywords: evolutionary learning, semi-supervised classification, time series data, trading signals generation

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Authors: Rolando B. Llave Jr.

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In many countries, wheat flour is used an essential component in production/preparation of bread and other baked products considered to have a significant role in man’s diet. Partial replacement of wheat flour with other flours (composite flour) in preparation of the said products is seen as a solution to the scarcity of wheat flour (in non-wheat producing countries), and improved nourishment. In composite flour, other flours may come from cereals, legumes, root crops, and those that are rich in starch. Many countries utilize whatever is locally available. “Adlai” or Job’s tears is a tall cereal plant that belongs to the same family of grass as wheat, rice, and corn. In some countries, it is used as an ingredient in producing many dishes and alcoholic and non-alcoholic beverages. As part of the Food Staple Self-Sufficiency Program (FSSP) of the Department of Agriculture (DA) in the Philippines, “adlai” is being promoted as alternative food source for the Filipinos. In this study, the grits coming from the seeds of “adlai” were turned into flour. The resulting flour was then used as partial replacement for wheat flour in selected baked products namely “pan de sal” (salt bread), cupcakes and cookies. The supplementation of “adlai” flour ranged 20%-45% with 20%-35% for “pan de sal”; 30%-45% for cupcakes; and 25% - 40% for cookies. The study was composed of four (4) phases. Phase I was product formulation studies. Phase II included the acceptability test/sensory evaluation of the baked products where the statistical analysis of the data gathered followed. Phase III was the computation of the theoretical protein content of the most acceptable “pan de sal”, cupcake and cookie, and lastly, in Phase IV, cost benefit was analyzed, specifically in terms of the direct material cost.

Keywords: “adlai”, composite flour, supplementation, sensory evaluation

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Authors: Oseni Margaret Oladunni, Ogundele Joan Olayinka, Olusanya Olalekan Samuel, Akinniyi Modupe Olakintan

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The world's growing population is pushing humans to look for alternative food sources among underutilised or wild plants. One of these food sources has been identified as Canavalia enisiformis, or jack beans. The only issue with using jack beans is that they contain anti-nutrient chemicals, which must be removed or diminished in order for them to be fit for human consumption. The objective of this study is to determine the nutritional and industrial utility of Canavalia enisiformis by analysing the anti-nutrient, phytochemical, and antioxidant composition of raw whole seed and soaking dehusked seeds using established procedures. Phytate (23.48±0.24, 15.24±0.41 and 14.83±0.00), oxalate (4.32±0.09, 3.96±0.09 and 2.88±0.09), tannins (22.77±0.73, 18.68±0.03 and 17.50±0.46), and lectins (6.67±0.04, 6.20±0.01 and 6.42±0.07) exhibited the highest anti-nutrient values in raw whole seed and, at the very least, in dehusked, soaked seeds. The samples were subjected to phytochemical screening, which detected the presence of cardiac glycosides as well as anthraquinones, alkaloids, tannins, saponins, steroids, flavonoids, terpenoids, phlobatannins, and flavonoids. Due to the reduction in phytochemical contents quantified as a result of dehusking and soaking, phenolbatannins and anthraquinones were not found in the samples. The research findings also demonstrated elevated concentrations of several plausible phytochemical components with potential medical value, with the raw whole seed exhibiting the greatest capacity to scavenge free radicals. Accordingly, the study's findings validate the seed's therapeutic applications and imply that it might be an inexpensive source of antioxidants for humans and animals alike.

Keywords: dehusking, soaking, anti-nutrients, antioxidants, jack bean

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Authors: Khadijat Ayanpeju Abdulsalam, Bolanle Mary Olawoye, Paul Babatunde Ayoola

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The potential of Baobab leaves is understudied and not yet fully documented. The purpose of this work is to highlight the important nutritional value and practical qualities of baobab leaves. In this research, proximate analysis was studied to determine the macronutrient quantitative analysis in baobab leaves. Studies were also conducted on other characteristics, such as moisture content, which is significant to the food business since it affects food quality, preservation, and resistance to deterioration. Dietary fiber, which was also studied, has important health benefits, such as lowering blood cholesterol levels by lowering low-density lipoprotein or "bad" cholesterol. It functions as an anti-obesity and anti-diabetic agent, lowering the likelihood of haemorrhoids developing. Additionally, increasing face bulk and short-chain fatty acid synthesis improves gastrointestinal health and overall wellness. Baobab leaves had a moisture content of 6.4%, fat of 16.1%, ash of 3.2%, protein of 18.7%, carbohydrate 57.2% and crude fiber of 4.1%. The minerals determined in the sample of baobab leaves are Ca, Fe, Mg, K, Na, P, and Zn with Potassium (347.6±0.70) as the most abundant mineral while Zn (9.31±0.60) is the least abundant. The functional properties studied include pH, gelation temperature, bulk density, water absorption capacity, oil absorption capacity, foaming property, emulsifying property, and stability and swelling capacity, which are 8.72, 29, 0.39, 138, 98.20, 0.80, 72.80, and 73.50 respectively. The Fourier Transform InfraRed absorption spectra show bands like C=O, C-Cl and N-H. Baobab leaves are edible, nutritious, and non-toxic, as the mineral contents are within the required range.

Keywords: dietary fibre, proximate analysis, macronutrients, minerals, baobab leaves, frequency range

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Authors: Sewon Kim, Minjun Kwon, Changyeop Lee

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This study is aimed to study combustion characteristics of low NOx burner using petroleum cokes as fuel. The petroleum coke, which is produced through the oil refining process, is an attractive fuel in terms of its high heating value and low price. But petroleum coke is a challenging fuel because of its low volatile content, high sulfur and nitrogen content, which give rise to undesirable emission characteristics and low ignitability. Therefore, the research and development regarding the petroleum coke burner is needed for applying this industrial system. In this study, combustion and emission characteristics of petroleum cokes burner are experimentally investigated in an industrial steam boiler. The low NOx burner is designed to control fuel and air mixing to achieve staged combustion, which, in turn reduces both flame temperature and oxygen. Air distribution ratio of triple staged air are optimized experimentally. The result showed that NOx concentration is lowest when overfire air is used, and the burner function at a fuel rich condition. That is, the burner is operated at the equivalence ratio of 1.67 and overall equivalence ratio including overfire air is kept 0.87.

Keywords: petroleum cokes, low NOx, combustion, equivalence ratio

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Authors: Rohollah Asadian Kohestani, Mustafa Hashemzadeh

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The present paper is the outcome of a field research that was conducted with the study objective of influencing factor's effect on the behavior of customers switching in the Saipa Emdad Khodro Company. To achieve this goal, six factors of service quality, service cost, waiting time to receive services, reputation of organization, costs of switching and the way to respond the needs of customers as the independent variables of research and their effect on the customer switching was studied as the variable related to the research. The statistical society of this research included all customers of the Saipa Emdad Khodro company that possess the vehicles of automobile manufacturing group of Saipa throughout the country and the statistical sample included 150 persons of such customers. The results of this research indicated that all under study factors excluding the reputation factor effect on the behavior of customer switching.

Keywords: customer services, switching cost, service price, customer switching behavior

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Authors: Noriyuki Suyama

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This paper discusses purchasing behavior in retail stores, with a particular focus on the impact of weather changes on customers' purchasing behavior. Weather conditions are one of the factors that greatly affect the management and operation of retail stores. However, there is very little research on the relationship between weather conditions and marketing from an academic perspective, although there is some importance from a practical standpoint and knowledge based on experience. For example, customers are more hesitant to go out when it rains than when it is sunny, and they may postpone purchases or buy only the minimum necessary items even if they do go out. It is not difficult to imagine that weather has a significant impact on consumer behavior. To the best of the authors' knowledge, there have been only a few studies that have delved into the purchasing behavior of individual customers. According to Hirata (2018), the economic impact of weather in the United States is estimated to be 3.4% of GDP, or "$485 billion ± $240 billion per year. However, weather data is not yet fully utilized. Representative industries include transportation-related industries (e.g., airlines, shipping, roads, railroads), leisure-related industries (e.g., leisure facilities, event organizers), energy and infrastructure-related industries (e.g., construction, factories, electricity and gas), agriculture-related industries (e.g., agricultural organizations, producers), and retail-related industries (e.g., retail, food service, convenience stores, etc.). This paper focuses on the retail industry and advances research on weather. The first reason is that, as far as the author has investigated the retail industry, only grocery retailers use temperature, rainfall, wind, weather, and humidity as parameters for their products, and there are very few examples of academic use in other retail industries. Second, according to NBL's "Toward Data Utilization Starting from Consumer Contact Points in the Retail Industry," labor productivity in the retail industry is very low compared to other industries. According to Hirata (2018) mentioned above, improving labor productivity in the retail industry is recognized as a major challenge. On the other hand, according to the "Survey and Research on Measurement Methods for Information Distribution and Accumulation (2013)" by the Ministry of Internal Affairs and Communications, the amount of data accumulated by each industry is extremely large in the retail industry, so new applications are expected by analyzing these data together with weather data. Third, there is currently a wealth of weather-related information available. There are, for example, companies such as WeatherNews, Inc. that make weather information their business and not only disseminate weather information but also disseminate information that supports businesses in various industries. Despite the wide range of influences that weather has on business, the impact of weather has not been a subject of research in the retail industry, where business models need to be imagined, especially from a micro perspective. In this paper, the author discuss the important aspects of the impact of weather on marketing strategies in the non-food retail industry.

Keywords: consumer behavior, weather marketing, marketing science, big data, retail marketing

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Authors: Yılmaz Uçar, Fatih Ozogul, Mustafa Durmuş, Yesim Ozogul, Ali Rıza Köşker, Esmeray Kuley Boğa, Deniz Ayas

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The aim of this study was to purified eicosapentaenoic acid (EPA) and docosahexaenoic acid (DHA), that are essential oils from trout oil, using high-performance liquid chromatography (HPLC) method, bioconverted EPA and DHA into bioconverted EPA (bEPA), bioconverted DHA (bDHA) extracts by P. aeruginosa PR3. Moreover, in vitro antibacterial activity of bEPA and bDHA was investigated using disc diffusion methods and minimum inhibitory concentration (MIC). EPA and DHA concentration of 11.1% and 15.9% in trout oil increased in 58.64% and 40.33% after HPLC optimisation, respectively. In this study, EPA and DHA enriched products were obtained which are to be used as valuable supplements for food and pharmaceutical purposes. The bioconverted EPA and DHA exhibited antibacterial activities against two Gram-positive bacteria (Listeria monocytogenes ATCC 7677 and Staphylococcus aureus ATCC 29213) and six Gram-negative bacteria (Pseudomonas aeruginosa ATCC 27853, Escherichia coli ATCC 25922, Klebsiella pneumoniae ATCC700603, Enterococcus faecalis ATCC 29212, Aeromonas hydrophila NCIMB 1135, and Salmonella Paratyphi A NCTC 13). Inhibition zones and MIC value of bEPA and bDHA against bacterial strains ranged from 7 to 12 mm and from 350 to 2350 μg/mL, respectively. Our results suggested that the crude extracts of bioconversion of EPA and DHA by P. aeruginosa PR3 can be considered as promising antimicrobials in improving food safety by controlling foodborne pathogens.

Keywords: High-Performance Liquid Chromatography (HPLC), docosahexaenoic acid, DHA, eicosapentaenoic acid, EPA, minimum inhibitory concentration, MIC, Pseudomonas aeruginosa PR3

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Authors: András Medve, Katalin Szabad, István Patkó

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According to the International Energy Association the previous principles of the energy sector should be reassessed, in which renewable energy sources have a significant role. We might witness the exchange of roles of countries from importer to exporter, which look for the main resources of market needs. According to the World Energy Outlook 2013, the duration of high oil prices is exceptionally long in the history of the energy market. Forecasts also point at the expected great differences between the regional prices of gas and electric energy. The energy need of the world will grow by its third. two thirds of which will appear in China, India, and South-East Asia, while only 4 per cent of which will be related to OECD countries. Current trends also forecast the growth of the price of energy sources and the emission of glasshouse gases. As a reflection of these forecasts alternative energy sources will gain value, of which geothermic energy is one of the cheapest and most economical. Hungary possesses outstanding resources of geothermic energy. The aim of the study is to research the environmental effects of geothermic energy and the opportunities of its exploitation in Hungary, related to „Horizon 2020” project.

Keywords: sustainable energy, renewable energy, development of geothermic energy in Hungary

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Authors: Siripen Yiamjanya, Kevin Wongleedee

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This research paper aims to identify travel motivation by push and pull factors that affected decision making of international tourists in selecting Thailand as their destination choice. A total of 200 international tourists who traveled to Thailand during January and February, 2014 were used as the sample in this study. A questionnaire was employed as a tool in collecting the data, conducted in Bangkok. The list consisted of 30 attributes representing both psychological factors as “push- based factors” and destination factors as “pull-based factors”. Mean and standard deviation were used in order to find the top ten travel motives that were important determinants in the respondents’ decision making process to select Thailand as their destination choice. The finding revealed the top ten travel motivations influencing international tourists to select Thailand as their destination choice included [i] getting experience in foreign land; [ii] Thai food; [iii] learning new culture; [iv] relaxing in foreign land; [v] wanting to learn new things; [vi] being interested in Thai culture, and traditional markets; [vii] escaping from same daily life; [viii] enjoying activities; [ix] adventure; and [x] good weather. Classification of push- based and pull- based motives suggested that getting experience in foreign land was the most important push motive for international tourists to travel, while Thai food portrayed its highest significance as pull motive. Discussion and suggestions were also made for tourism industry of Thailand.

Keywords: decision making, destination choice, international tourist, pull factor, push factor, Thailand, travel motivation

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Authors: Bhogendra Mishra, Andy Nelson, Mirco Boschetti, Lorenzo Busetto, Alice Laborte

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Rice is grown on over 100 million hectares in almost every country of Asia. It is the most important staple crop for food security and has high economic and cultural importance in Asian societies. The combination of genetic diversity and management options, coupled with the large geographic extent means that there is a large variation in seasonality (when it is grown) and cropping intensity (how often it is grown per year on the same plot of land), even over relatively small distances. Seasonality and intensity can and do change over time depending on climatic, environmental and economic factors. Detecting where and when these changes happen can provide information to better understand trends in regional and even global rice production. Remote sensing offers a unique opportunity to estimate these trends. We apply the recently published PhenoRice algorithm to 14 years of moderate resolution remote sensing (MODIS) data (utilizing 250m resolution 16 day composites from Terra and Aqua) to estimate seasonality and cropping intensity per year and changes over time. We compare the results to the surveyed data collected by International Rice Research Institute (IRRI). The study results in a unique and validated dataset on the extent and change of extent, the seasonality and change in seasonality and the cropping intensity and change in cropping intensity between 2003 and 2016 for the Philippines. Observed trends and their implications for food security and trade policies are also discussed.

Keywords: rice, cropping intensity, moderate resolution remote sensing (MODIS), phenology, seasonality

Procedia PDF Downloads 298