Search results for: non-convex cost function

Authors: Kang-Mo Jung

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The use of regularization for statistical methods has become popular. The least absolute shrinkage and selection operator (LASSO) framework has become the standard tool for sparse regression. However, it is well known that the LASSO is sensitive to outliers or leverage points. We consider a new robust estimation which is composed of the weighted loss function of the pairwise difference of residuals and the adaptive penalty function regulating the tuning parameter for each variable. Rank regression is resistant to regression outliers, but not to leverage points. By adopting a weighted loss function, the proposed method is robust to leverage points of the predictor variable. Furthermore, the adaptive penalty function gives us good statistical properties in variable selection such as oracle property and consistency. We develop an efficient algorithm to compute the proposed estimator using basic functions in program R. We used an optimal tuning parameter based on the Bayesian information criterion (BIC). Numerical simulation shows that the proposed estimator is effective for analyzing real data set and contaminated data.

Keywords: adaptive penalty function, robust penalized regression, variable selection, weighted rank regression

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Authors: John Knight, Fuchun Li, Yan Xu

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Based on a new method of the nonparametric estimator of the drift function, we propose a consistent test for the parametric specification of the drift function in the short rate diffusion process using observations from a panel of yields. The test statistic is shown to follow an asymptotic normal distribution under the null hypothesis that the parametric drift function is correctly specified, and converges to infinity under the alternative. Taking the daily 7-day European rates as a proxy of the short rate, we use our test to examine whether the drift of the short rate diffusion process is linear or nonlinear, which is an unresolved important issue in the short rate modeling literature. The testing results indicate that none of the drift functions in this literature adequately captures the dynamics of the drift, but nonlinear specification performs better than the linear specification.

Keywords: diffusion process, nonparametric estimation, derivative security price, drift function and volatility function

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Authors: Mukul Anand

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Quality oriented affordable shelter for all has always been the key issue in the housing sector of our country. Homelessness is the acute form of housing need. It is a paradox that in spite of innumerable government initiated programmes for affordable housing, certain section of society is still devoid of shelter. About nineteen million (18.78 million) households grapple with housing shortage in Urban India in 2012. In Indian scenario there is major mismatch between the people for whom the houses are being built and those who need them. The prime force faced by public authorities in facilitation of quality housing for all is high cost of construction. The present paper will comprehend executable techniques for dilution of cost factor in housing the homeless. The key actors responsible for delivery of cheap housing stock such as capacity building, resource optimization, innovative low cost building material and indigenous skeleton housing system will also be incorporated in developing these techniques. Time performance, which is an important angle of above actors, will also be explored so as to increase the effectiveness of low cost housing. Along with this best practices will be taken up as case studies where both conventional techniques of housing and innovative low cost housing techniques would be cited. Transportation consists of approximately 30% of total construction budget. Thus use of alternative local solutions depending upon the region would be covered so as to highlight major components of low cost housing. Government is laid back regarding base line information on use of innovative low cost method and technique of resource optimization. Therefore, the paper would be an attempt to bring to light simpler solutions for achieving low cost housing.

Keywords: construction, cost, housing, optimization, shelter

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Authors: Mihai Liviu Despa

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The paper tackles the topic of determining the cost of innovation in software development projects. Innovation can be achieved either in a planned or unplanned manner. The paper approaches the scenarios were innovation is planned for. As a starting point an innovative software development project is analyzed. The project is depicted step by step as it was implemented, from inception to delivery. Costs that are proprietary to innovation in software development are isolated based on the author’s personal experience in managing the above mentioned project. Innovation costs components identified by the author are then validated using open discussions with software development professionals and projects managers on LinkedIn groups. In order to receive relevant feedback only groups that focus on software development and innovation management are targeted. Additional innovation cost components suggested by software development professionals and projects managers are also considered. Based on the identified cost components an indicator is built. The indicator is meant to formalize the process of determining the cost of innovation in a software development project. The indicator aggregates all the innovation cost components that are identified in the research process. The process of calculating each cost component is also described. Conclusions are formulated and new related research topics are submitted for debate.

Keywords: innovation cost, IT project management, software development, innovation management

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Authors: C. Pislaru, A. Shebani

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This paper uses the radial basis function neural network (RBFNN) for system identification of nonlinear systems. Five nonlinear systems are used to examine the activity of RBFNN in system modeling of nonlinear systems; the five nonlinear systems are dual tank system, single tank system, DC motor system, and two academic models. The feed forward method is considered in this work for modelling the non-linear dynamic models, where the K-Means clustering algorithm used in this paper to select the centers of radial basis function network, because it is reliable, offers fast convergence and can handle large data sets. The least mean square method is used to adjust the weights to the output layer, and Euclidean distance method used to measure the width of the Gaussian function.

Keywords: system identification, nonlinear systems, neural networks, radial basis function, K-means clustering algorithm

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Authors: F. Bringby, A. Nordin, L. Björnådal, E. Svenungsson, C. Boström, H Alexanderson

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Patients with systemic sclerosis (SSc) have reduced hand function and self-reported limitations in daily activities. Few studies have explored limitations in shoulder-arm mobility and muscle function, or if there are differences in physical function between diffuse cutaneous (dcSSc) and limited cutaneous (lcSSc) SSc. The purpose of this study was to describe objectively assessed shoulder-arm mobility, lower extremity muscle function and muscle endurance in SSc and evaluate possible differences between lcSSc and dcSSc. 121 patients with SSc were included in this cross sectional study. Shoulder-arm mobility were examined using the Shoulder Function Assessment Scale (SFA) including 5 tasks ,lower extremity muscle function was measured by Timed stands test (TST) and muscle endurance in shoulder- and hip flexors were assessed by the Functional Index 2 (FI-2). Patients with dcSSc had median SFA hand to back score 5 (4-6) and median “hand to seat” score of 5 (4-6) compared to patients with lcSSc with corresponding median values of 6 (4-6) and 6 (5-6) respectively (p<0.01-p<0.05). 50% of both patientsgroups had lower muscle function assessed by the TST compared to age- and gender matched reference values but there were no differences in TST between the two patient groups. There was no difference in FI-2 scores between dcSSc and lcSSc. The whole group had 40 (28-83) % and 38 (32-72) % of maximal FI-2 shoulder flexion score on the right and left sides, and 40 (23-63) % and 37 (23-62) % of maximal FI-2 hip flexion score on the right and left sides. Reference values for the FI-2 indicate that healthy individuals perform in mean 100 % of maximal score. Patients with dcSSc were more limited than patients with lcSSc. Patients with SSc have reduced muscle function compared to reference values. These results highlights the importance of assessing shoulder-arm mobility and muscle function as well as a need for further research to identify exercise interventions to target these limitations.

Keywords: diffuse, limited, mobility, muscle function, physical therapy, systemic sclerosis

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Authors: Angela U. Makolo

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Protein-coding and Non-coding regions determine the biology of a sequenced transcriptome. Research advances have shown that Non-coding regions are important in disease progression and clinical diagnosis. Existing bioinformatics tools have been targeted towards Protein-coding regions alone. Therefore, there are challenges associated with gaining biological insights from transcriptome sequence data. These tools are also limited to computationally intensive sequence alignment, which is inadequate and less accurate to identify both Protein-coding and Non-coding regions. Alignment-free techniques can overcome the limitation of identifying both regions. Therefore, this study was designed to develop an efficient sequence alignment-free model for identifying both Protein-coding and Non-coding regions in sequenced transcriptomes. Feature grouping and randomization procedures were applied to the input transcriptomes (37,503 data points). Successive iterations were carried out to compute the gradient vector that converged the developed Protein-coding and Non-coding Region Identifier (PNRI) model to the approximate coefficient vector. The logistic regression algorithm was used with a sigmoid activation function. A parameter vector was estimated for every sample in 37,503 data points in a bid to reduce the generalization error and cost. Maximum Likelihood Estimation (MLE) was used for parameter estimation by taking the log-likelihood of six features and combining them into a summation function. Dynamic thresholding was used to classify the Protein-coding and Non-coding regions, and the Receiver Operating Characteristic (ROC) curve was determined. The generalization performance of PNRI was determined in terms of F1 score, accuracy, sensitivity, and specificity. The average generalization performance of PNRI was determined using a benchmark of multi-species organisms. The generalization error for identifying Protein-coding and Non-coding regions decreased from 0.514 to 0.508 and to 0.378, respectively, after three iterations. The cost (difference between the predicted and the actual outcome) also decreased from 1.446 to 0.842 and to 0.718, respectively, for the first, second and third iterations. The iterations terminated at the 390th epoch, having an error of 0.036 and a cost of 0.316. The computed elements of the parameter vector that maximized the objective function were 0.043, 0.519, 0.715, 0.878, 1.157, and 2.575. The PNRI gave an ROC of 0.97, indicating an improved predictive ability. The PNRI identified both Protein-coding and Non-coding regions with an F1 score of 0.970, accuracy (0.969), sensitivity (0.966), and specificity of 0.973. Using 13 non-human multi-species model organisms, the average generalization performance of the traditional method was 74.4%, while that of the developed model was 85.2%, thereby making the developed model better in the identification of Protein-coding and Non-coding regions in transcriptomes. The developed Protein-coding and Non-coding region identifier model efficiently identified the Protein-coding and Non-coding transcriptomic regions. It could be used in genome annotation and in the analysis of transcriptomes.

Keywords: sequence alignment-free model, dynamic thresholding classification, input randomization, genome annotation

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Authors: K. D. Candido, A. Lissounov, I. Knezevic, N. Knezevic

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Background: The most commonly performed pain procedures in the USA is Lumbar Epidural Steroid Injections (LESI). There are three main types of these procedures: transforaminal (TF), interlaminar (IL) and caudal injections. It is expected for TF injections to have better outcomes than IL injections, based on the recently published systematic review. The studies presented in that review used a midline IL approach, but those with parasagittal IL approach were not taken into consideration. Our aim is to emphasize the efficacy of the lateral parasagittal (paramedian) IL approach in this review. Methods: We included five studies in this systematic review, which compared Parasagittal-IL (PIL) with either Midline-IL (MIL) or TF LESI. Total of 296 patients who had undergone different types of LESI were observed across the five studies, and the average pain and functional improvements were calculated and compared among groups. Results: Pain and function improvements with PIL approach is superior on 12 months follow up to MIL approach (53.4% vs. 14.7%) and (55% vs. 27.7%), respectively. A 12 months follow-up results between PIL and TF shows a near equivalent effectiveness for pain (58.9% vs. 63.2%) and function improvement (47.3% vs. 48.1%). An average follow-up of 17.1 days have shown better short-term pain relief for PIL than TF approach (45.8% vs. 19.2%), respectively. Number of repeated injections is lower for PIL injections than MIL. Number of weeks between 1st and 2nd injections: PIL averaged 15.8 weeks and MIL averaged 9.7 weeks. Third LESI injection is more common in TF group (30%) than PIL group (18.8%). Conclusion: Higher complication rates are associated with TF injections for which FDA7 issued an official warning. We have recorded better outcomes in pain and function improvement of Parasagittal-IL LESI as compared to midline-IL injection, in the presented systematic review. Parasagittal and TF injections have equivalent efficacy in Pain and Function improvements thus we advocate for Parasagittal-IL approach consideration as an alternative for TF injections.

Keywords: parasagital approach, lumbar, back pain, epidural steroid injection

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Authors: Fayaz Moosavi, Saeid Moradyfard

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One of the methods in avoiding management fraud and increasing the quality of financial information, is the notification of qualitative features of financial information, including conservatism characteristic. Although taking a conservatism approach, while boosting the quality of financial information, is able to reduce the informational risk and the cost of capital stock of commercial department, by presenting an improper image about the situation of the commercial department, raises the risk of failure in returning the main and capital interest, and consequently the cost of capital of the commercial department. In order to know if conservatism finally leads to the increase or decrease of the cost of capital or does not have any influence on it, information regarding accepted companies in Tehran stock exchange is utilized by application of pooling method from 2007 to 2012 and it included 124 companies. The results of the study revealed that there is an opposite and meaningful relationship between conditional conservatism and the cost of capital of the company. In other words, if bad and unsuitable news and signs are reflected sooner than good news in accounting profit, the cost of capital of the company increases. In addition, there is a positive and meaningful relationship between the cost of capital and lack of information asymmetry.

Keywords: conditional conservatism, lack of information asymmetry, the cost of capital, stock exchange

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Authors: Nur Mohammad Ali, Md. Shafiqul Alam, Jayanta Bhusan Deb, Nowrin Sharmin

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The past ten years have seen significant expansion in the aviation sector, which during the previous five years has steadily pushed emerging countries closer to economic independence. It is crucial to accurately forecast the potential demand for air travel to make long-term financial plans. To forecast market demand for low-cost passenger carriers, this study suggests working with low-cost airlines, airports, consultancies, and governmental institutions' strategic planning divisions. The study aims to develop an artificial intelligence-based methods, notably fuzzy inference systems (FIS), to determine the most accurate forecasting technique for domestic low-cost carrier demand in Bangladesh. To give end users real-world applications, the study includes nine variables, two sub-FIS, and one final Mamdani Fuzzy Inference System utilizing a graphical user interface (GUI) made with the app designer tool. The evaluation criteria used in this inquiry included mean square error (MSE), accuracy, precision, sensitivity, and specificity. The effectiveness of the developed air passenger demand prediction FIS is assessed using 240 data sets, and the accuracy, precision, sensitivity, specificity, and MSE values are 90.83%, 91.09%, 90.77%, and 2.09%, respectively.

Keywords: aviation industry, fuzzy inference system, membership function, graphical user interference

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Authors: M. A. Badr, M. N. El Kordy, A. N. Mohib, M. M. Ibrahim

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The basic objective of the research is to study the effect of hybrid wind energy on the cost of generated electricity considering the cost of reduction CO₂ emissions. The system consists of small wind turbine(s), storage battery bank and a diesel generator (W/D/B). Using an optimization software package, different system configurations are investigated to reach optimum configuration based on the net present cost (NPC) and cost of energy (COE) as economic optimization criteria. The cost of avoided CO₂ is taken into consideration. The system is intended to supply the electrical load of a small community (gathering six families) in a remote Egyptian area. The investigated system is not connected to the electricity grid and may replace an existing conventional diesel powered electric supply system to reduce fuel consumption and CO₂ emissions. The simulation results showed that W/D energy system is more economic than diesel alone. The estimated COE is 0.308$/kWh and extracting the cost of avoided CO₂, the COE reached 0.226 $/kWh which is an external benefit of wind turbine, as there are no pollutant emissions through operational phase.

Keywords: hybrid wind turbine systems, remote areas electrification, simulation of hybrid energy systems, techno-economic study

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Authors: Suppawan Lertpongpakpoom, Anongnat Boonrat, Kunya BoontummoSuppawan

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This descriptive cost analysis aimed to analyze the unit cost of patients in medical intensive care unit. Purposive sampling was used to select 20 nurses, 6 practical nurses, 5 nurses aid and select samples 30 patients. Data were collected from both primary source (activity and average time of nursing care) and secondary source Z bill of payment and patient record). Instruments were cost recording form, activity observation form, and service recording form. Content validity of all instruments were evaluated by three experts (CVI = 0.87). Descriptive statistics was employed for data analysis. The results of the Activity-Based Costing Analysis showed that total activity cost of 4 service types for the patients was 14,776.92 Bath. The highest cost was nursing record was 5,674.78 Bath, followed direct nursing activity was 5,176.18 Bath, medical treatment was 1,976.6 Bath. The lowest cost was management activity was 1,003.64 Bath per visit. The result suggested that Activity-Base Costing Analysis could be applied to give better understanding of cost structure, enabling better consideration wasted expense and non-value-added activity, and improvement of effective utilization.

Keywords: activity-based costing, medical intensive care, nursing care, cost analysis

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Authors: Saidu Ibrahim, Winston M. W. Shakantu

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The problem of construction material waste remains unresolved, as a significant percentage of the materials delivered to some project sites end up as waste which might result in additional project cost. Cost overrun is a problem which affects 90% of the completed projects in the world. The argument on how to eliminate it has been on-going for the past 70 years, but there is neither substantial improvement nor significant solution for mitigating its detrimental effects. Research evidence has proposed various construction cost overruns and material-waste management approaches; nonetheless, these studies failed to give a clear indication on the framework and the equation for managing construction material waste and cost overruns. Hence, this research aims to develop a conceptual framework and a mathematical equation for managing material waste and cost overrun in the construction industry. The paper adopts the desktop methodological approach. This involves comparing the causes of material waste and those of cost overruns from the literature to determine the possible relationship. The review revealed a relationship between material waste and cost overrun that; increase in material waste would result to a corresponding increase in the amount of cost overrun at both the pre-contract and the post contract stages of a project. It was found from the equation that achieving an effective construction material waste management must ensure a “Good Quality-of-Planning, Estimating, and Design Management” and a “Good Quality- of-Construction, Procurement and Site Management”; a decrease in “Design Complexity” which would reduce “Material Waste” and subsequently reduce the amount of cost overrun by 86.74%. The conceptual framework and the mathematical equation developed in this study are recommended to the professionals of the construction industry.

Keywords: conceptual framework, cost overrun, material waste, project stags

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Authors: Fu Lin

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We consider the worst-case load-shedding problem in electric power networks where a number of transmission lines are to be taken out of service. The objective is to identify a prespecified number of line outages that lead to the maximum interruption of power generation and load at the transmission level, subject to the active power-flow model, the load and generation capacity of the buses, and the phase-angle limit across the transmission lines. For this nonlinear model with binary constraints, we show that all decision variables are separable except for the nonlinear power-flow equations. We develop an iterative decomposition algorithm, which converts the worst-case load shedding problem into a sequence of small subproblems. We show that the subproblems are either convex problems that can be solved efficiently or nonconvex problems that have closed-form solutions. Consequently, our approach is scalable for large networks. Furthermore, we prove the convergence of our algorithm to a critical point, and the objective value is guaranteed to decrease throughout the iterations. Numerical experiments with IEEE test cases demonstrate the effectiveness of the developed approach.

Keywords: load shedding, power system, proximal alternating linearization method, vulnerability analysis

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Authors: Ingrid R. Avanzi, Marcela dos P. G. Baltazar, Louise H. Gracioso, Luciana J. Gimenes, Bruno Karolski, Elen A. Perpetuo, Claudio Auguto Oller do Nascimento

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In this study was developed a natural process using a biological system for the uptake of Copper and possible removal of copper from wastewater by dead biomass of the strain Burkholderia cenocepacia. Dead and live biomass of Burkholderia cenocepacia was used to analyze the equilibrium and kinetics of copper biosorption by this strain in function of the pH. Living biomass exhibited the highest biosorption capacity of copper, 50 mg g−1, which was achieved within 5 hours of contact, at pH 7.0, temperature of 30°C, and agitation speed of 150 rpm. The dead biomass of Burkholderia cenocepacia may be considered an efficiently bioprocess, being fast and low-cost to production of copper and also a probably nano-adsorbent of this metal ion in wastewater in bioremediation process. In this study was developed a natural process using a biological system for the uptake of Copper and possible removal of copper from wastewater by dead biomass of the strain Burkholderia cenocepacia. Dead and live biomass of Burkholderia cenocepacia was used to analyze the equilibrium and kinetics of copper biosorption by this strain in function of the pH. Living biomass exhibited the highest biosorption capacity of copper, 50 mg g−1, which was achieved within 5 hours of contact, at pH 7.0, temperature of 30°C, and agitation speed of 150 rpm. The dead biomass of Burkholderia cenocepacia may be considered an efficiently bioprocess, being fast and low-cost to production of copper and also a probably nano-adsorbent of this metal ion in wastewater in bioremediation process.

Keywords: biosorption, dead biomass, biotechnology, copper recovery

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Authors: Siham Rahoui, Amr Mahfouz, Amr Arisha

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In a highly competitive environment characterised by uncertainty and disruptions, such as the recent COVID-19 outbreak, supply chains (SC) face the challenge of maintaining their cost at minimum levels while continuing to provide customers with high-quality products and services. More importantly, businesses in such an economic context strive to maintain survival by keeping the cost of undertaken activities (such as logistics) low and in-house. To do so, managers need to understand the costs associated with different products and services in order to have a clear vision of the SC performance, maintain profitability levels, and make strategic decisions. In this context, SC literature explored different costing models that sought to determine the costs of undertaking supply chain-related activities. While some cost accounting techniques have been extensively explored in the SC context, more contributions are needed to explore the potential of time driven activity-based costing (TDABC). More specifically, more applications are needed in the manufacturing context of the SC, where the debate is ongoing. The aim of the study is to assess the capability of the technique to assess the operational performance of the logistics function. Through a case study methodology applied to a manufacturing company operating in the automotive industry, TDABC evaluates the efficiency of the current configuration and its logistics processes. The study shows that monitoring the process efficiency and cost efficiency leads to strategic decisions that contributed to improve the overall efficiency of the logistics processes.

Keywords: efficiency, operational performance, supply chain costing, time driven activity based costing

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Authors: Cuneyt Yucelbas, Seral Ozsen, Sule Yucelbas, Gulay Tezel

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Due to the fact that there exist only a small number of complex systems in artificial immune system (AIS) that work out nonlinear problems, nonlinear AIS approaches, among the well-known solution techniques, need to be developed. Gaussian function is usually used as similarity estimation in classification problems and pattern recognition. In this study, diagnosis of breast cancer, the second type of the most widespread cancer in women, was performed with different distance calculation functions that euclidean, gaussian and gaussian-euclidean hybrid function in the clonal selection model of classical AIS on Wisconsin Breast Cancer Dataset (WBCD), which was taken from the University of California, Irvine Machine-Learning Repository. We used 3-fold cross validation method to train and test the dataset. According to the results, the maximum test classification accuracy was reported as 97.35% by using of gaussian-euclidean hybrid function for fold-3. Also, mean of test classification accuracies for all of functions were obtained as 94.78%, 94.45% and 95.31% with use of euclidean, gaussian and gaussian-euclidean, respectively. With these results, gaussian-euclidean hybrid function seems to be a potential distance calculation method, and it may be considered as an alternative distance calculation method for hard nonlinear classification problems.

Keywords: artificial immune system, breast cancer diagnosis, Euclidean function, Gaussian function

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Authors: Kyu Jin Kim, Byung Kwan Oh, Hyo Seon Park

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The seismic responses-based structural health monitoring system has been performed to reduce seismic damage. The inter-story drift ratio which is the major index of the seismic capacity assessment is employed for estimating the seismic damage of buildings. Meanwhile, seismic response analysis to estimate the structural responses of building demands significantly high computational cost due to increasing number of high-rise and large buildings. To estimate the inter-story drift ratio of buildings from the earthquake efficiently, this paper suggests the estimation method of inter-story drift for buildings using an artificial neural network (ANN). In the method, the radial basis function neural network (RBFNN) is integrated with optimization algorithm to optimize the variable through evolutionary learning that refers to evolutionary radial basis function neural network (ERBFNN). The estimation method estimates the inter-story drift without seismic response analysis when the new earthquakes are subjected to buildings. The effectiveness of the estimation method is verified through a simulation using multi-degree of freedom system.

Keywords: structural health monitoring, inter-story drift ratio, artificial neural network, radial basis function neural network, genetic algorithm

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Authors: Hans Frenk, Sonya Javadi, Semih Onur Sezer

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We consider the so-called end of life inventory problem for the supplier of a product in its final phase of the service life cycle. This phase starts when the production of the items stops and continues until the warranty of the last sold item expires. At the beginning of this phase, the supplier places a final order for spare parts to serve customers coming with defective items. At any time during the final phase, the supplier may also decide to switch to an alternative and more cost-effective policy. This alternative policy may be in the form of replacing a defective item with a substitutable product or offering discounts / rebates on new generation products. In this setup, the objective is to find a final order quantity and also a switching time which will minimize the total expected discounted cost. We study this problem under a general cost structure in a continuous-time framework where arrivals of defective items are given by a non-homogeneous Poisson process. We consider four formulations which differ by the nature of the switching time. These formulations are studied in detail and properties of the objective function are derived in each case. Using these properties, we provide exact algorithms for efficient numerical implementations. Numerical examples are provided illustrating the application of these algorithms. In these examples, we also compare the costs associated with these different formulations.

Keywords: End-of-life inventory control, martingales, optimization, service parts

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Authors: Jayant Kumar, Aarcha Jayachandran Sasikala, Barry Adrian Shepherd

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Public Distribution System is a flagship welfare programme of the Government of India with both historical and political significance. Targeted at lower sections of society,it is one of the largest supply chain networks in the world. There has been several studies by academics and planning commission about the effectiveness of the system. Our study focuses on applying predictive analytics to aid the central body to keep track of the problem of breach of service level agreement between the two echelons of food supply chain. Each shop breach is leading to a potential additional inventory carrying cost. Thus, through this study, we aim to show that aided with such analytics, the network can be made more cost effective. The methods we illustrate in this study are applicable to other commercial supply chains as well.

Keywords: PDS, analytics, cost effectiveness, Karnataka, inventory cost, service level JEL classification: C53

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Authors: Bruno Mazorra Roig

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In the realm of cost-sharing mechanisms, the vulnerability to Sybil strategies, where agents can create fake identities to manipulate outcomes, has not yet been studied. In this paper, we delve into the intricacies of different cost-sharing mechanisms proposed in the literature, highlighting its non-Sybil-resistance nature. Furthermore, we prove that under mild conditions, a Sybil-proof cost-sharing mechanism for public excludable goods is at least (n/2 + 1)−approximate. This finding reveals an exponential increase in the worst-case social cost in environments where agents are restricted from using Sybil strategies. We introduce the concept of Sybil Welfare Invariant mechanisms, where a mechanism maintains its worst-case welfare under Sybil strategies for every set of prior beliefs with full support even when the mechanism is not Sybil-proof. Finally, we prove that the Shapley value mechanism for public excludable goods holds this property and so deduce that the worst-case social cost of this mechanism is the nth harmonic number Hn under the equilibrium of the game with Sybil strategies, matching the worst-case social cost bound for cost-sharing mechanisms. This finding carries important implications for decentralized autonomous organizations (DAOs), indicating that they are capable of funding public excludable goods efficiently, even when the total number of agents is unknown.

Keywords: game theory, mechanism design, cost sharing, false-name proofness

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Authors: S. U. Kunya, S. Abdulkadir, M. A. Anas, L. Z. Adam

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Procurement methods is described as systems of contractual arrangements used by the contractor in order to secure the design and construction services based on the stipulated cost and within the required time and quality. Despite that, major projects in the Nigerian construction industry failed because of wrong procurement methods with major consequences leads to cost overrun which needs to find lasting solution. The aim of the study is to evaluate the influence of procurement methods on cost performance of building projects in Gombe State, Nigeria. Study adopts descriptive and explorative design approach. Data were collected through administering of one hundred questionnaire using convenient sampling techniques. Data analyses using percentages, mean value and Anova analysis. Major finding show that more than fifty percent (50%) of procurement methods available are mainly utilized in the study area and the top procurement methods that have high impacts on cost performance as compare with the other methods is project management and direct labour procurement methods. The results of hypothesis’ tests with pvalue 0.12 and 0.07 validated that there was no significant variation in the perception of stakeholders’ on the impacts of procurements methods on cost performance. Therefore, the study concluded that projects management and direct labour are the most appropriate procurement methods that will ensure successful completion of project at stipulated cost in building projects.

Keywords: cost, effects, performance, procurement, projects

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Authors: Nsikan Affiah, Kayode Osungbade, Williams Uzoma

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Malaria remains one of the major killers of humans worldwide, threatening the lives of more than one-third of the world’s population. Some people refers it to; a disease of poverty because it contributes towards national poverty through its impact on foreign direct investment, tourism, labour productivity, and trade. At the micro level, it may cause poverty through spending on health care, income losses, and premature deaths. Unfortunately, malaria is a disease that affects both low-income household and its high-income counterpart, but low-income households are still at greater risk because significant part of the available monthly income is dedicated to various preventive and treatment measures. The objective of this study is to estimate direct and indirect cost of malaria treatment in households in a section of South-South Region (Akwa Ibom State) of Nigeria. A cross-sectional study of Six Hundred and Forty (640) heads of households or any adult representative of households in three local government areas of Akwa Ibom State, Nigeria from May 1-31, 2015 were ascertained through interviewer-administered questionnaire adapted from Nigerian Malaria Indicator Survey Report. The clustering technique was used to select 640 households with the help of Primary Health Care (PHC) house numbering system. Using exchange rate of 197 Naira/USD, result shows that direct cost of malaria treatment was 8,894.44 USD while the indirect cost of malaria treatment was 11,012.81 USD. Total cost of treatment made up of 44.7% direct cost and 55.3% indirect cost, with average direct cost of malaria treatment per household estimated at 20.6 USD and the average indirect cost of treatment per household estimated at 25.1 USD. Average total cost for each episode (888) of malaria was estimated at 22.4 USD. While at household level, the average total cost was estimated at 45.5 USD. From the average total cost, low-income households would spend 36% of monthly household income on treating malaria and the impact could be said to be catastrophic, compared to high-income households where only 1.2% of monthly household income is spent on malaria treatment. It could be concluded that the cost of malaria treatment is well beyond the means of households and given the reality of repeated bouts of malaria and its contribution to the impoverishment of households, there is a need for urgent action.

Keywords: direct cost, indirect cost, low income households, malaria

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Authors: Achim Kampker, Christoph Deutskens, Heiner Hans Heimes, Mathias Ordung, Felix Optehostert

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In the past years electric mobility became part of a public discussion. The trend to fully electrified vehicles instead of vehicles fueled with fossil energy has notably gained momentum. Today nearly every big car manufacturer produces and sells fully electrified vehicles, but electrified vehicles are still not as competitive as conventional powered vehicles. As the traction battery states the largest cost driver, lowering its price is a crucial objective. In addition to improvements in product and production processes a non-negligible, but widely underestimated cost driver of production can be found in logistics, since the production technology is not continuous yet and neither are the logistics systems. This paper presents an approach to evaluate cost factors on different designs of load carrier systems. Due to numerous interdependencies, the combination of costs factors for a particular scenario is not transparent. This is effecting actions for cost reduction negatively, but still cost reduction is one of the major goals for simultaneous engineering processes. Therefore a concurrent and phase appropriate cost valuation method is necessary to serve cost transparency. In this paper the four phases of this cost valuation method are defined and explained, which based upon a new approach integrating the logistics development process in to the integrated product and process development.

Keywords: research and development, technology and innovation, lithium-ion-battery production, load carrier development process, cost valuation method

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Authors: Yassir AbdelRazig, Amine Ghanem

Abstract:

Construction projects are information intensive in nature and involve many activities that are related to each other. Wireless technologies can be used to improve the accuracy and timeliness of data collected from construction sites and shares it with appropriate parties. Nonetheless, the construction industry tends to be conservative and shows hesitation to adopt new technologies. A main concern for owners, contractors or any person in charge on a job site is the cost of the technology in question. Wireless technologies are not cheap. There are a lot of expenses to be taken into consideration, and a study should be completed to make sure that the importance and savings resulting from the usage of this technology is worth the expenses. This research attempts to assess the effectiveness of using the appropriate wireless technologies based on criteria such as performance, reliability, and risk. The assessment is based on a utility function model that breaks down the selection issue into alternatives attribute. Then the attributes are assigned weights and single attributes are measured. Finally, single attribute are combined to develop one single aggregate utility index for each alternative.

Keywords: analytic hierarchy process, decision theory, utility function, wireless technologies

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Authors: Zhou BingHai, Fradet Victor

Abstract:

Lean philosophy follows the simple principle of “creating more value with fewer resources”. In accordance with this policy, material handling can be managed by the mean of Kanban which by triggering every feeding tour only when needed regulates the flow of material in one of the most efficient way. This paper focuses on Kanban Supermarket’s parameters and their optimization on a purely cost-based point of view. Number and size of forklifts, as well as size of the containers they carry, will be variables of the cost function which includes handling costs, inventory costs but also shortage costs. With an innovative computational approach encoded into industrial engineering software Tecnomatix and reproducing real-life conditions, a fictive assembly line is established and produces a random list of orders. Multi-scenarios are then run to study the impact of each change of parameter and the variation of costs it implies. Lastly, best-case scenarios financially speaking are selected.

Keywords: Kanban, supermarket, parts-feeding policies, multi-scenario simulation, assembly line

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Authors: Cynthia Oluchi Akagha

Abstract:

This paper highlights the increase in production cost and the corresponding outcomes in Nigeria using six major manufacturing companies as a case study. During an inflationary period, the cost-of-living increases, which reduces the purchasing power of money. Inflation has become a severe issue in many countries recently. To examine how inflation affects the success of businesses in Nigeria, a quantitative approach and a focus on causality were utilized to examine six (6) functional Nigerian manufacturing enterprises. The correlation between business production cost, cost of items supplied, and gross profit from 2021-2022 was analyzed. The analysis recorded that the cost of production increased in 2022 compared to 2021. The expansion varied between the six companies by 77.1%. Only one company out of six reported a decrease in gross profit in 2022 compared to the previous year. The other five companies' profits increased between 6.5% and 87%. Companies like these have thrived despite the rising cost of living because they have adjusted by increasing their product pricing. Since this change has the most significant influence on consumers, the best long-term reaction for a corporation to inflationary effects is often an improvement in cost efficiency, output, or both.

Keywords: economic meltdown, inflation, organization, performance

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Authors: Tarathorn Podcharathitikull, Jirarat Teeravaraprug

Abstract:

Transportation cost is the highest cost in logistics cost of Thailand, and truck transportation is counted as about 90% of the overall transportation cost. The main problem of truck transportation is backhauling. Backhauling has become an attractive cost-saving approach in logistics. To explore such opportunities, this paper investigated the current backhauling systems in Thailand. It was found that the backhauling problem is attracted to both governmental agencies and private sector. They gave attempts to build backhauling systems. This paper investigated two systems built by governmental agencies and one by private sector. Moreover, based on the interviews with the system representatives and users, pros and cons of the systems were found. The obstacles and challenges were obtained. This paper finally proposed a conceptual model of to-be backhauling system in Thailand.

Keywords: backhauling system, backhauls, interview, Thailand

Procedia PDF Downloads 265

Authors: Ahmad Rouhani, Masood Jabbari, Sima Honarmand

Abstract:

This paper introduces a method to optimal design of a hybrid Wind/Photovoltaic/Fuel cell generation system for a typical domestic load that is not located near the electricity grid. In this configuration the combination of a battery, an electrolyser, and a hydrogen storage tank are used as the energy storage system. The aim of this design is minimization of overall cost of generation scheme over 20 years of operation. The Matlab/Simulink is applied for choosing the appropriate structure and the optimization of system sizing. A teaching learning based optimization is used to optimize the cost function. An overall power management strategy is designed for the proposed system to manage power flows among the different energy sources and the storage unit in the system. The results have been analyzed in terms of technics and economics. The simulation results indicate that the proposed hybrid system would be a feasible solution for stand-alone applications at remote locations.

Keywords: hybrid energy system, optimum sizing, power management, TLBO

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Authors: Shun Horikoshi, Tohru Kawabe

Abstract:

This study presents performance analysis results of SMC (Sliding mode control) with changing the chattering functions applied to slip suppression problem of electric vehicles (EVs). In SMC, chattering phenomenon always occurs through high frequency switching of the control inputs. It is undesirable phenomenon and degrade the control performance, since it causes the oscillations of the control inputs. Several studies have been conducted on this problem by introducing some general saturation function. However, study about whether saturation function was really best and the performance analysis when using the other functions, weren’t being done so much. Therefore, in this paper, several candidate functions for SMC are selected and control performance of candidate functions is analyzed. In the analysis, evaluation function based on the trade-off between slip suppression performance and chattering reduction performance is proposed. The analyses are conducted in several numerical simulations of slip suppression problem of EVs. Then, we can see that there is no difference of employed candidate functions in chattering reduction performance. On the other hand, in slip suppression performance, the saturation function is excellent overall. So, we conclude the saturation function is most suitable for slip suppression sliding mode control.

Keywords: sliding mode control, chattering function, electric vehicle, slip suppression, performance analysis

Procedia PDF Downloads 303