Search results for: stochastic uncertainty analysis

Authors: Mohammad Mahdi Paydar, Armin Cheraghalipour, Mostafa Hajiaghaei-Keshteli

Abstract:

Nowadays, in advanced countries, agriculture as one of the most significant sectors of the economy, plays an important role in its political and economic independence. Due to farmers' lack of information about products' demand and lack of proper planning for harvest time, annually the considerable amount of products is corrupted. Besides, in this paper, we attempt to improve these unfavorable conditions via designing an effective supply chain network that tries to minimize total costs of agricultural products along with minimizing shortage in demand points. To validate the proposed model, a stochastic optimization approach by using a branch and bound solver of the LINGO software is utilized. Furthermore, to accumulate the data of parameters, a case study in Mazandaran province placed in the north of Iran has been applied. Finally, using ɛ-constraint approach, a Pareto front is obtained and one of its Pareto solutions as best solution is selected. Then, related results of this solution are explained. Finally, conclusions and suggestions for the future research are presented.

Keywords: perishable products, stochastic optimization, agricultural supply chain, ɛ-constraint

Procedia PDF Downloads 366

Authors: Dharshini M., Hema N. S.

Abstract:

The project for the production of aniline is done by providing 295.46 tons per day of nitrobenzene as feed. The material and energy balance calculations for the different equipment like distillation column, heat exchangers, reactor and mixer are carried out with simulation via DWSIM. The conversion of nitrobenzene to aniline by hydrogenation process is considered to be 96% and the total production of the plant was found to be 215 TPD. The cost estimation of the process is carried out to estimate the feasibility of the plant. The net profit and percentage return of investment is estimated to be ₹27 crores and 24.6%. The payback period was estimated to be 4.05 years and the unit production cost is ₹113/kg. A techno-economic analysis was performed for the production of aniline; the result includes economic analysis and sensitivity analysis of critical factors. From economic analysis, larger the plant scale increases the total capital investment and annual operating cost, even though the unit production cost decreases. Uncertainty analysis was performed to predict the influence of economic factors on profitability and the scenario analysis is one way to quantify uncertainty. In scenario analysis the best-case scenario and the worst-case scenario are compared with the base case scenario. The best-case scenario was found at a feed rate of 120 kmol/hr with a unit production cost of ₹112.05/kg and the worst-case scenario was found at a feed rate of 60 kmol/hr with a unit production cost of ₹115.9/kg. The base case is closely related to the best case by 99.2% in terms of unit production cost. since the unit production cost is less and the profitability is more with less payback time, it is feasible to construct a plant at this capacity.

Keywords: aniline, nitrobenzene, economic analysis, unit production cost

Procedia PDF Downloads 109

Authors: Kashif Nesar Rather, Mantu Kumar Mahalik

Abstract:

The discourse surrounding climate change has gained considerable traction, with a discernible emphasis on its nuanced and consequential impact on gender inequality. Concurrently, escalating global tensions are contributing to heightened uncertainty, potentially exerting influence on gender disparities. Within this framework, this study attempts to empirically investigate the implications of climate change and world uncertainty on the gender inequality for a balanced panel of 100 economies between 1995 to 2021. The estimated models also control for the effects of globalisation, economic growth, and education expenditure. The panel cointegration tests establish a significant long-run relationship between the variables of the study. Furthermore, the PMG-ARDL (Panel mean group-Autoregressive distributed lag model) estimation technique confirms that both climate change and world uncertainty perpetuate the global gender inequalities. Additionally, the results establish that globalisation, economic growth, and education expenditure exert a mitigating influence on gender inequality, signifying their role in diminishing gender disparities. These findings are further confirmed by the FGLS (Feasible Generalized Least Squares) and DKSE (Driscoll-Kraay Standard Errors) regression methods. Potential policy implications for mitigating the detrimental gender ramifications stemming from climate change and rising world uncertainties are also discussed.

Keywords: gender inequality, world uncertainty, climate change, globalisation., ecological footprint

Procedia PDF Downloads 38

Authors: Ajai Singh

Abstract:

Simulation of hydrological processes at the watershed outlet through modelling approach is essential for proper planning and implementation of appropriate soil conservation measures in Damodar Barakar catchment, Hazaribagh, India where soil erosion is a dominant problem. This study quantifies the parametric uncertainty involved in simulation of stream flow using Soil and Water Assessment Tool (SWAT), a watershed scale model and Radial Basis Neural Network (RBNN), an artificial neural network model. Both the models were calibrated and validated based on measured stream flow and quantification of the uncertainty in SWAT model output was assessed using ‘‘Sequential Uncertainty Fitting Algorithm’’ (SUFI-2). Though both the model predicted satisfactorily, but RBNN model performed better than SWAT with R2 and NSE values of 0.92 and 0.92 during training, and 0.71 and 0.70 during validation period, respectively. Comparison of the results of the two models also indicates a wider prediction interval for the results of the SWAT model. The values of P-factor related to each model shows that the percentage of observed stream flow values bracketed by the 95PPU in the RBNN model as 91% is higher than the P-factor in SWAT as 87%. In other words the RBNN model estimates the stream flow values more accurately and with less uncertainty. It could be stated that RBNN model based on simple input could be used for estimation of monthly stream flow, missing data, and testing the accuracy and performance of other models.

Keywords: SWAT, RBNN, SUFI 2, bootstrap technique, stream flow, simulation

Procedia PDF Downloads 370

Authors: Pawan Kumar Sharma, Sudhakar Dwivedi, R. K. Arora

Abstract:

Saffron is one of the most precious spices grown on the earth and is cultivated in a very limited area in few countries of the world. It has also been grown as a niche crop in Kishtwar district of Jammu region of Jammu and Kashmir State of India. This paper attempts to examine the presence of cost inefficiencies in saffron production and the associated socio-economic characteristics of saffron growers in the mentioned area. Although the numbers of inputs used in cultivation of saffron were limited, still cost inefficiencies were present in its production. The net present value (NPV), internal rate of return (IRR) and profitability index (PI) of investment in five years of saffron production were INR 1120803, 95.67 % and 3.52 respectively. The estimated coefficients of saffron stochastic cost function for saffron bulbs, human labour, animal labour, manure and saffron output were positive. The saffron growers having non-farm income were more cost inefficient as compared to farmers who did not have sources of income other than farming by 0.04 %. The maximum value of cost efficiency for saffron grower was 1.69 with mean value of 1.12. The majority of farmers have low cost inefficiencies, as the highest frequency of occurrence of the predicted cost efficiency was below 1.06.

Keywords: saffron, internal rate of return, cost efficiency, stochastic frontier model

Procedia PDF Downloads 153

Authors: Masrur Alam Khan

Abstract:

The purpose of this study was to examine the dyadic interaction techniques that social media users utilize to reduce uncertainty in their day to day business engagements in the absence of their physical interaction. The study empirically tested assumptions of uncertainty reduction theory while addressing self-disclosure, seeking questions to develop consensus, and subsequently to achieve intimacy in very conducive environment. Moreover, this study examined the effect of dyadic interaction through social media among business community while identifying the strength of their reciprocity in relationships and compares it with those having no dyadic relations due to absence of social media. Using socio-metric survey, the study revealed a better understanding of their partners for upholding their professional relations more credible. A sample of unacquainted, both male and female, was randomly asked questions regarding their nature of dyadic interaction within their office while using social media (face-to-face, visual CMC (webcam) or text-only). Primary results explored that the social media users develop their better know-how about their professional obligations to reduce ambiguity and align with one to one interact.

Keywords: dyadic-interaction, social media, uncertainty reduction, socio-metric survey, self-disclosure, intimacy, reciprocity in relationship

Procedia PDF Downloads 137

Authors: Jihad Daba, Jean-Pierre Dubois

Abstract:

Multi path fading noise degrades the performance of cellular communication, most notably in femto- and pico-cells in 3G and 4G systems. When the wireless channel consists of a small number of scattering paths, the statistics of fading noise is not analytically tractable and poses a serious challenge to developing closed canonical forms that can be analysed and used in the design of efficient and optimal receivers. In this context, noise is multiplicative and is referred to as stochastically local fading. In many analytical investigation of multiplicative noise, the exponential or Gamma statistics are invoked. More recent advances by the author of this paper have utilized a Poisson modulated and weighted generalized Laguerre polynomials with controlling parameters and uncorrelated noise assumptions. In this paper, we investigate the statistics of multi-diversity stochastically local area fading channel when the channel consists of randomly distributed Rayleigh and Rician scattering centers with a coherent specular Nakagami-distributed line of sight component and an underlying doubly stochastic Poisson process driven by a lognormal intensity. These combined statistics form a unifying triply stochastic filtered marked Poisson point process model.

Keywords: cellular communication, femto and pico-cells, stochastically local area fading channel, triply stochastic filtered marked Poisson point process

Procedia PDF Downloads 448

Authors: Phanida Phukoetphim, Asaad Y. Shamseldin

Abstract:

In this study, the novel Stochastic Gradient Boosting (SGB) combination method is addressed for producing daily river flows from four different rain-runoff models of Ohinemuri catchment, New Zealand. The selected rainfall-runoff models are two empirical black-box models: linear perturbation model and linear varying gain factor model, two conceptual models: soil moisture accounting and routing model and Nedbør-Afrstrømnings model. In this study, the simple average combination method and the weighted average combination method were used as a benchmark for comparing the results of the novel SGB combination method. The models and combination results are evaluated using statistical and graphical criteria. Overall results of this study show that the use of combination technique can certainly improve the simulated river flows of four selected models for Ohinemuri catchment, New Zealand. The results also indicate that the novel SGB combination method is capable of accurate prediction when used in a combination method of the simulated river flows in New Zealand.

Keywords: multi-model combination, rainfall-runoff modeling, stochastic gradient boosting, bioinformatics

Procedia PDF Downloads 339

Authors: Myungjin Lee, Daegun Han, Jongsung Kim, Soojun Kim, Hung Soo Kim

Abstract:

Recently, the localized heavy rainfall and typhoons are frequently occurred due to the climate change and the damage is becoming bigger. Therefore, we may need a more accurate prediction of the rainfall and runoff. However, the gauge rainfall has the limited accuracy in space. Radar rainfall is better than gauge rainfall for the explanation of the spatial variability of rainfall but it is mostly underestimated with the uncertainty involved. Therefore, the ensemble of radar rainfall was simulated using error structure to overcome the uncertainty and gauge rainfall. The simulated ensemble was used as the input data of the rainfall-runoff models for obtaining the ensemble of runoff hydrographs. The previous studies discussed about the accuracy of the rainfall-runoff model. Even if the same input data such as rainfall is used for the runoff analysis using the models in the same basin, the models can have different results because of the uncertainty involved in the models. Therefore, we used two models of the SSARR model which is the lumped model, and the Vflo model which is a distributed model and tried to simulate the optimum runoff considering the uncertainty of each rainfall-runoff model. The study basin is located in Han river basin and we obtained one integrated runoff hydrograph which is an optimum runoff hydrograph using the blending methods such as Multi-Model Super Ensemble (MMSE), Simple Model Average (SMA), Mean Square Error (MSE). From this study, we could confirm the accuracy of rainfall and rainfall-runoff model using ensemble scenario and various rainfall-runoff model and we can use this result to study flood control measure due to climate change. Acknowledgements: This work is supported by the Korea Agency for Infrastructure Technology Advancement(KAIA) grant funded by the Ministry of Land, Infrastructure and Transport (Grant 18AWMP-B083066-05).

Keywords: radar rainfall ensemble, rainfall-runoff models, blending method, optimum runoff hydrograph

Procedia PDF Downloads 280

Authors: Sungkyung Kim, Jee-Hyeon Na, Dong-Seung Kwon

Abstract:

Future mobile networks following 5th generation will be characterized by one thousand times higher gains in capacity; connections for at least one hundred billion devices; user experience capable of extremely low latency and response times. To be close to the capacity requirements and higher reliability, advanced technologies have been studied, such as multiple connectivity, small cell enhancement, heterogeneous networking, and advanced interference and mobility management. This paper is focused on the multiple connectivity in heterogeneous cellular networks. We investigate the performance of coverage and user throughput in several deployment scenarios. Using the stochastic geometry approach, the SINR distributions and the coverage probabilities are derived in case of dual connection. Also, to compare the user throughput enhancement among the deployment scenarios, we calculate the spectral efficiency and discuss our results.

Keywords: heterogeneous networks, multiple connectivity, small cell enhancement, stochastic geometry

Procedia PDF Downloads 331

Authors: Badreddine Chemali, Boualem Tiliouine

Abstract:

This article presents the main results of a numerical investigation on the uncertainty of dynamic response of structures with statistically correlated random damping Gamma distributed. A computational method based on a Linear Statistical Model (LSM) is implemented to predict second order statistics for the response of a typical industrial building structure. The significance of random damping with correlated parameters and its implications on the sensitivity of structural peak response in the neighborhood of a resonant frequency are discussed in light of considerable ranges of damping uncertainties and correlation coefficients. The results are compared to those generated using Monte Carlo simulation techniques. The numerical results obtained show the importance of damping uncertainty and statistical correlation of damping coefficients when obtaining accurate probabilistic estimates of dynamic response of structures. Furthermore, the effectiveness of the LSM model to efficiently predict uncertainty propagation for structural dynamic problems with correlated damping parameters is demonstrated.

Keywords: correlated random damping, linear statistical model, Monte Carlo simulation, uncertainty of dynamic response

Procedia PDF Downloads 280

Authors: A. Y. Mukhtar, J. B. Munyakazi, R. Ouifki

Abstract:

Over the past few decades, the unprecedented increase in mobility has raised considerable concern about the relationship between mobility and vector-borne diseases and malaria in particular. Thus, one can claim that human mobility is one of the contributing factors to the resurgence of malaria. To assess human mobility on malaria burden among hosts, we formulate a movement-based model on a network of patches. We then extend human multi-group SEIAR deterministic epidemic models into a system of stochastic differential equations (SDEs). Our quantitative stochastic model which is expressed in terms of average rates of movement between compartments is fitted to time-series data (weekly malaria data of 2011 for each patch) using the maximum likelihood approach. Using the metapopulation (multi-group) model, we compute and analyze the basic reproduction number. The result shows that human movement is sufficient to preserve malaria disease firmness in the patches with the low transmission. With these results, we concluded that the sensitivity of malaria to the human mobility is turning to be greatly important over the implications of future malaria control in South Sudan.

Keywords: basic reproduction number, malaria, maximum likelihood, movement, stochastic model

Procedia PDF Downloads 134

Authors: Adrien Marque, Daniel Delahaye, Pierre Maréchal, Isabelle Berry

Abstract:

Wind direction and uncertainty are crucial in aircraft or unmanned aerial vehicle trajectories. By computing wind covariance matrices on each spatial grid point, these spatial grids can be defined as images with symmetric positive definite matrix elements. A data pre-processing step, a specific convolution, a specific max-pooling, and a specific flatten layers are implemented to process such images. Then, the neural network is applied to spatial grids, whose elements are wind covariance matrices, to solve classification problems related to the feasibility of unmanned aerial vehicles based on wind direction and wind uncertainty.

Keywords: wind direction, uncertainty level, unmanned aerial vehicle, convolution neural network, SPD matrices

Procedia PDF Downloads 51

Authors: Eva Kotlánová

Abstract:

After recession that began in 2007 in the United States and subsequently spilled over the Europe we could expect recovery of economic growth. According to the last estimation of economic progress of European countries, this recovery is not strong enough. Among others, it will depend on economic policy, where and in which way, the economic indicators will proceed. Economic theories postulate that the economic subjects prefer stably, continual economic policy without repeated and strong fluctuations. This policy is perceived as support of economic growth. Mostly in crises period, when the government must cope with consequences of recession, the economic policy becomes unpredictable for many subjects and economic policy uncertainty grows, which have negative influence on economic growth. The aim of this paper is to use panel regression to prove or disprove this hypothesis on the example of five largest European economies in the period 2008–2012.

Keywords: economic crises in Europe, economic policy, uncertainty, panel analysis regression

Procedia PDF Downloads 386

Authors: Silas A. Ihedioha

Abstract:

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

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

Procedia PDF Downloads 225

Authors: Ephraim Ugwu, Christopher Ehinomen

Abstract:

Despite efforts by the Nigerian government to harmonize the macroeconomic policy implementations by establishing various committees to resolve disputes between the fiscal and monetary authorities, it is still evident that the federal government had continued its expansionary policy by increasing spending, thus creating huge budget deficit. This study evaluates the effect of macroeconomic policy coordination on economic growth uncertainty in Nigeria from 1980 to 2020. Employing the Auto regressive distributed lag (ARDL) bound testing procedures, the empirical results shows that the error correction term, ECM(-1), indicates a negative sign and is significant statistically with the t-statistic value of (-5.612882 ). Therefore, the gap between long run equilibrium value and the actual value of the dependent variable is corrected with speed of adjustment equal to 77% yearly. The long run coefficient results showed that the estimated coefficients of the intercept term indicates that other things remains the same (ceteris paribus), the economics growth uncertainty will continue reduce by 7.32%. The coefficient of the fiscal policy variable, PUBEXP, indicates a positive sign and significant statistically. This implies that as the government expenditure increases by 1%, economic growth uncertainty will increase by 1.67%. The coefficient of monetary policy variable MS also indicates a positive sign and insignificant statistically. The coefficients of merchandise trade variable, TRADE and exchange rate EXR show negative signs and significant statistically. This indicate that as the country’s merchandise trade and the rate of exchange increases by 1%, the economic growth uncertainty reduces by 0.38% and 0.06%, respectively. This study, therefore, advocate for proper coordination of monetary, fiscal and exchange rate policies in order to actualize the goal of achieving a stable economic growth.

Keywords: macroeconomic, policy coordination, growth uncertainty, ARDL, Nigeria

Procedia PDF Downloads 130

Authors: Augustine Okolie, Johannes Müller, Mirjam Kretzchmar

Abstract:

We adopt a maximum-likelihood framework to estimate parameters of a stochastic susceptible-infected-recovered (SIR) model with contact tracing on a rooted random tree. Given the number of detectees per index case, our estimator allows to determine the degree distribution of the random tree as well as the tracing probability. Since we do not discover all infectees via contact tracing, this estimation is non-trivial. To keep things simple and stable, we develop an approximation suited for realistic situations (contract tracing probability small, or the probability for the detection of index cases small). In this approximation, the only epidemiological parameter entering the estimator is the basic reproduction number R0. The estimator is tested in a simulation study and applied to covid-19 contact tracing data from India. The simulation study underlines the efficiency of the method. For the empirical covid-19 data, we are able to compare different degree distributions and perform a sensitivity analysis. We find that particularly a power-law and a negative binomial degree distribution meet the data well and that the tracing probability is rather large. The sensitivity analysis shows no strong dependency on the reproduction number.

Keywords: stochastic SIR model on graph, contact tracing, branching process, parameter inference

Procedia PDF Downloads 78

Authors: Sanam Haseen, Abdul Bari

Abstract:

In this paper a three stage multivariate programming problem with random survey cost and variances as random variables has been formulated as a non-linear stochastic programming problem. The problem has been converted into an equivalent deterministic form using chance constraint programming and modified E-modeling. An empirical study of the problem has been done at the end of the paper using R-simulation.

Keywords: chance constraint programming, modified E-model, stochastic programming, stratified sample surveys, three stage sample surveys

Procedia PDF Downloads 458

Authors: Hassan Manouzi

Abstract:

We present in this paper a useful strategy to solve stochastic partial differential equations (SPDEs) involving stochastic coefficients. Using the Wick-product of higher order and the Wiener-Itˆo chaos expansion, the SPDEs is reformulated as a large system of deterministic partial differential equations. To reduce the computational complexity of this system, we shall use a decomposition-coordination method. To obtain the chaos coefficients in the corresponding deterministic equations, we use a least square formulation. Once this approximation is performed, the statistics of the numerical solution can be easily evaluated.

Keywords: least squares, wick product, SPDEs, finite element, wiener chaos expansion, gradient method

Procedia PDF Downloads 419

Authors: Ghania Zerari, Abderrezak Guessoum, Rachid Beguenane

Abstract:

This paper introduces high-performance architecture for fully parallel stochastic Low-Density Parity-Check (LDPC) field programmable gate array (FPGA) based LDPC decoder. The new approach is designed to decrease the decoding latency and to reduce the FPGA logic utilisation. To accomplish the target logic utilisation reduction, the routing of the proposed sub-variable node (VN) internal memory is designed to utilize one slice distributed RAM. Furthermore, a VN initialization, using the channel input probability, is achieved to enhance the decoder convergence, without extra resources and without integrating the output saturated-counters. The Xilinx FPGA implementation, of IEEE 802.3an standard LDPC code, shows that the proposed decoding approach attain high performance along with reduction of FPGA logic utilisation.

Keywords: low-density parity-check (LDPC) decoder, stochastic decoding, field programmable gate array (FPGA), IEEE 802.3an standard

Procedia PDF Downloads 297

Authors: Likewin Thomas, M. V. Manoj Kumar, B. Annappa

Abstract:

The aim of this study was to develop an Artificial Neural Network0 s recommendation model for an online process using the complexity of load, performance, and average servicing time of the resources. Here, the proposed model investigates the resource performance using stochastic gradient decent method for learning ranking function. A probabilistic cost function is implemented to identify the optimal θ values (load) on each resource. Based on this result the recommendation of resource suitable for performing the currently executing task is made. The test result of CoSeLoG project is presented with an accuracy of 72.856%.

Keywords: ADALINE, neural network, gradient decent, process mining, resource behaviour, polynomial regression model

Procedia PDF Downloads 390

Authors: Helen Pushkarskaya, David Tolin, Lital Ruderman, Ariel Kirshenbaum, J. MacLaren Kelly, Christopher Pittenger, Ifat Levy

Abstract:

Obsessive-Compulsive Disorder (OCD) produces profound morbidity. Difficulties with decision making and intolerance of uncertainty are prominent clinical features of OCD. The nature and etiology of these deficits are poorly understood. We used a well-validated choice task, grounded in behavioral economic theory, to investigate differences in valuation and value-based choice during decision making under uncertainty in 20 unmedicated participants with OCD and 20 matched healthy controls. Participants’ choices were used to assess individual decision-making characteristics. Compared to controls, individuals with OCD were less consistent in their choices and less able to identify options that were unambiguously preferable. These differences correlated with symptom severity. OCD participants did not differ from controls in how they valued uncertain options when outcome probabilities were known (risk) but were more likely than controls to avoid uncertain options when these probabilities were imprecisely specified (ambiguity). These results suggest that the underlying neural mechanisms of valuation and value-based choices during decision-making are abnormal in OCD. Individuals with OCD show elevated intolerance of uncertainty, but only when outcome probabilities are themselves uncertain. Future research focused on the neural valuation network, which is implicated in value-based computations, may provide new neurocognitive insights into the pathophysiology of OCD. Deficits in decision-making processes may represent a target for therapeutic intervention.

Keywords: obsessive compulsive disorder, decision-making, uncertainty intolerance, risk aversion, ambiguity aversion, valuation

Procedia PDF Downloads 615

Authors: Zohreh Mohammadi, Jan Kaspar, Peter Lohmander, Robert Marusak, Harald Vacik, Ljusk Ola Eriksson

Abstract:

Storms are important damaging agents in European forest ecosystems. In the latest decades, significant economic losses in European forestry occurred due to storms. This study investigates the problem of optimal harvest planning when forest stands risk to be felled by storms. One of the most applicable mathematical methods which are being used to optimize forest management is stochastic dynamic programming (SDP). This method belongs to the adaptive optimization class. Sequential decisions, such as harvest decisions, can be optimized based on sequential information about events that cannot be perfectly predicted, such as the future storms and the future states of wind protection from other forest stands. In this paper, stochastic dynamic programming is used to maximize the expected present value of the profits from an area consisting of several forest stands. The region of analysis is the Czech Republic. The harvest decisions, in a particular time period, should be simultaneously taken in all neighbor stands. The reason is that different stands protect each other from possible winds. The optimal harvest age of a particular stand is a function of wind speed and different wind protection effects. The optimal harvest age often decreases with wind speed, but it cannot be determined for one stand at a time. When we consider a particular stand, this stand also protects other stands. Furthermore, the particular stand is protected by neighbor stands. In some forest stands, it may even be rational to increase the harvest age under the influence of stronger winds, in order to protect more valuable stands in the neighborhood. It is important to integrate wind risk in forestry decision-making.

Keywords: Czech republic, forest stands, stochastic dynamic programming, wind risk

Procedia PDF Downloads 147

Authors: Xavier Everaert

Abstract:

Ever since the publication of “The Problem of Social” cost, Coasean insights on externalities, transaction costs, and the reciprocal nature of harms, have been widely debated. What has been largely neglected however, is the role of technological innovation in the mitigation of negative externalities or transaction costs. Incorporating future uncertainty about negligence standards or expected restitution costs and the profit opportunities these uncertainties reveal to entrepreneurs, allow us to frame problems regarding social costs within the reality of rapid technological evolution.

Keywords: environmental law and economics, entrepreneurship, commons, pollution, wildlife

Procedia PDF Downloads 421

Authors: Ameen Alshugaa, Abul Mansur Masih

Abstract:

This paper sheds light on the economic impacts of political uncertainty caused by the civil uprisings that swept the Arab World and have been collectively known as the Arab Spring. Measuring documented effects of political uncertainty on regional stock market indices, we examine the impact of the Arab Spring on the volatility of stock markets in eight countries in the Middle East and North Africa (MENA) region: Egypt, Lebanon, Jordon, United Arab Emirate, Qatar, Bahrain, Oman and Kuwait. This analysis also permits testing the existence of financial contagion among equity markets in the MENA region during the Arab Spring. To capture the time-varying and multi-horizon nature of the evidence of volatility and contagion in the eight MENA stock markets, we apply two robust methodologies on consecutive data from November 2008 to March 2014: MGARCH-DCC, Continuous Wavelet Transforms (CWT). Our results indicate two key findings. First, the discrepancies between volatile stock markets of countries directly impacted by the Arab Spring and countries that were not directly impacted indicate that international investors may still enjoy portfolio diversification and investment in MENA markets. Second, the lack of financial contagion during the Arab Spring suggests that there is little evidence of cointegration among MENA markets. Providing a general analysis of the economic situation and the investment climate in the MENA region during and after the Arab Spring, this study bear significant importance for policy makers, local and international investors, and market regulators.

Keywords: Portfolio Diversification , MENA Region , Stock Market Indices, MGARCH-DCC, Wavelet Analysis, CWT

Procedia PDF Downloads 292

Authors: Ahmet Kaya

Abstract:

Quantum mechanism is one of the most important approaches to calculating non-ruin probability. We apply standard Dirac notation to model given Hamiltonians. By using the traditional method and eigenvector basis, non-ruin probability is found for several examples. Also, non-ruin probability is calculated for two different Hamiltonian by using the tensor product. Finally, the path integral method is applied to the examples and comparison is made for stochastic simulations and path integral calculation.

Keywords: quantum physics, Hamiltonian system, path integral, tensor product, ruin probability

Procedia PDF Downloads 334

Authors: Mohammed Abu Shquier

Abstract:

This paper introduces a word segmentation method using the novel BP-LSTM-CRF architecture for processing semantic output training. The objective of web morphological analysis tools is to link a formal morpho-syntactic description to a lemma, along with morpho-syntactic information, a vocalized form, a vocalized analysis with morpho-syntactic information, and a list of paradigms. A key objective is to continuously enhance the proposed system through an inductive learning approach that considers semantic influences. The system is currently under construction and development based on data-driven learning. To evaluate the tool, an experiment on homograph analysis was conducted. The tool also encompasses the assumption of deep binary segmentation hypotheses, the arbitrary choice of trigram or n-gram continuation probabilities, language limitations, and morphology for both Modern Standard Arabic (MSA) and Dialectal Arabic (DA), which provide justification for updating this system. Most Arabic word analysis systems are based on the phonotactic morpho-syntactic analysis of a word transmitted using lexical rules, which are mainly used in MENA language technology tools, without taking into account contextual or semantic morphological implications. Therefore, it is necessary to have an automatic analysis tool taking into account the word sense and not only the morpho-syntactic category. Moreover, they are also based on statistical/stochastic models. These stochastic models, such as HMMs, have shown their effectiveness in different NLP applications: part-of-speech tagging, machine translation, speech recognition, etc. As an extension, we focus on language modeling using Recurrent Neural Network (RNN); given that morphological analysis coverage was very low in dialectal Arabic, it is significantly important to investigate deeply how the dialect data influence the accuracy of these approaches by developing dialectal morphological processing tools to show that dialectal variability can support to improve analysis.

Keywords: NLP, DL, ML, analyser, MSA, RNN, CNN

Procedia PDF Downloads 42

Authors: Ismaila Olabisi Ogundiji, Hakeem Mayowa Olujide, Qasim Usamot

Abstract:

The main reasons for site-specific management for agricultural inputs are to increase the profitability of crop production, to protect the environment and to improve products’ quality. Information about the variability of different soil attributes within a field is highly essential for the decision-making process. Lack of fast and accurate acquisition of soil characteristics remains one of the biggest limitations of precision agriculture due to being expensive and time-consuming. Adaptive sampling has been proven as an accurate and affordable sampling technique for planning within a field for site-specific management of agricultural inputs. This study employed spatial uncertainty of soil apparent electrical conductivity (ECa) estimates to identify adaptive re-survey areas in the field. The original dataset was grouped into validation and calibration groups where the calibration group was sub-grouped into three sets of different measurements pass intervals. A conditional simulation was performed on the field ECa to evaluate the ECa spatial uncertainty estimates by the use of the geostatistical technique. The grouping of high-uncertainty areas for each set was done using image segmentation in MATLAB, then, high and low area value-separate was identified. Finally, an adaptive re-survey was carried out on those areas of high-uncertainty. Adding adaptive re-surveying significantly minimized the time required for resampling whole field and resulted in ECa with minimal error. For the most spacious transect, the root mean square error (RMSE) yielded from an initial crude sampling survey was minimized after an adaptive re-survey, which was close to that value of the ECa yielded with an all-field re-survey. The estimated sampling time for the adaptive re-survey was found to be 45% lesser than that of all-field re-survey. The results indicate that designing adaptive sampling through spatial uncertainty models significantly mitigates sampling cost, and there was still conformity in the accuracy of the observations.

Keywords: soil electrical conductivity, adaptive sampling, conditional simulation, spatial uncertainty, site-specific management

Procedia PDF Downloads 132

Authors: Emna Hlel, Salma Jamousi, Abdelmajid Ben Hamadou

Abstract:

Every model for knowledge representation to model real-world applications must be able to cope with the effects of uncertain phenomena. One of main defects of classical ontology is its inability to represent and reason with uncertainty. To remedy this defect, we try to propose a method to construct probabilistic ontology for integrating uncertain information in an ontology modeling a set of basic publications DBLP (Digital Bibliography & Library Project) using a probabilistic model.

Keywords: classical ontology, probabilistic ontology, uncertainty, Bayesian network

Procedia PDF Downloads 347

Authors: Johan Esbach

Abstract:

The entrepreneur has traditionally been defined through various historical lenses, emphasising individual traits, risk-taking, speculation, innovation and firm creation. However, these definitions often fail to address the dynamic nature of the modern entrepreneurial functions, which respond to unpredictable uncertainties and transition to routine management as certainty is achieved. This paper proposes a revised definition, positioning the entrepreneur as a dynamic function rather than a human construct, that emerges to address specific uncertainties in economic systems, but fades once uncertainty is resolved. By examining historical definitions and its limitations, including the works of Cantillon, Say, Schumpeter, and Knight, this paper identifies a gap in literature and develops a generalised definition for the entrepreneur. The revised definition challenges conventional thought by shifting focus from static attributes such as alertness, traits, firm creation, etc., to a dynamic role that includes reliability, adaptation, scalability, and adaptability. The methodology of this paper employs a mixed approach, combining theoretical analysis and case study examination to explore the dynamic nature of the entrepreneurial function in relation to uncertainty. The selection of case studies includes companies like Airbnb, Uber, Netflix, and Tesla, as these firms demonstrate a clear transition from entrepreneurial uncertainty to routine certainty. The data from the case studies is then analysed qualitatively, focusing on the patterns of entrepreneurial function across the selected companies. These results are then validated using quantitative analysis, derived from an independent survey. The primary finding of the paper will validate the entrepreneur as a dynamic function rather than a static, human-centric role. In considering the transition from uncertainty to certainty in companies like Airbnb, Uber, Netflix, and Tesla, the study shows that the entrepreneurial function emerges explicitly to address market, technological, or social uncertainties. Once these uncertainties are resolved and a certainty in the operating environment is established, the need for the entrepreneurial function ceases, giving way to routine management and business operations. The paper emphasises the need for a definitive model that responds to the temporal and contextualised nature of the entrepreneur. In adopting the revised definition, the entrepreneur is positioned to play a crucial role in the reduction of uncertainties within economic systems. Once the uncertainties are addressed, certainty is manifested in new combinations or new firms. Finally, the paper outlines policy implications for fostering environments that enables the entrepreneurial function and transition theory.

Keywords: dynamic function, uncertainty, revised definition, transition

Procedia PDF Downloads 20