Search results for: Digital Economy
2889 Shiva's Dance: Crisis, Local Institutions, and Private Firms
Authors: João Pereira Dos Santos
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The uneven spatial distribution of start-ups and their respective survival may reflect comparative advantages resulting from the local institutional background. For the first time, we explore this idea using Data Envelopment Analysis (DEA) to assess relative efficiency of Portuguese municipalities in this specific context. We depart from the related literature where expenditure is perceived as a desirable input by choosing a measure of fiscal responsibility and infrastructural variables in the first stage. Comparing results for 2006 and 2010, we find that mean performance decreased substantially with 1) the effects of the Global Financial Crisis; 2) as municipal population increases and 3) as financial independence decreases. A second stage is then computed employing a double-bootstrap procedure to evaluate how the regional context outside the control of local authorities (e.g. demographic characteristics and political preferences) impacts on efficiency.Keywords: entrepreneurship, political economy, public finance, accountability, crisis, efficiency, Portuguese municipalities
Procedia PDF Downloads 5042888 Reduction of Wear via Hardfacing of Rotavator Blades
Authors: Gurjinder Singh Randhawa, Jonny Garg, Sukhraj Singh, Gurmeet Singh Cheema
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A major problem related to the use of rotavator is wear of rotavator blades due to abrasion by soil hard particles, as it seriously affects tillage quality and agricultural production economy. The objective of this study was to increase the wear resistance by covering the rotavator blades with two different hard facing electrodes. These blades are generally produced from low carbon or low alloy steel. During the field work i.e. preparing land for the cultivation these blades are subjected to severe wear conditions. Comparative wear tests on a regular rotavator blade and two kinds of hardfacing with electrodes were conducted in the field. These two different hardfacing electrodes, which are designated HARD ALLOY-400 and HARD ALLOY-650, were used for hardfacing. The wear rate in the field tests was found to be significantly different statistically. When the cost is taken into consideration; HARD ALLOY-650 and HARD ALLOY-400 have been found to be the best hardfacing electrodes.Keywords: hardfacing, rotavator blades, hard alloy-400, abrasive wear
Procedia PDF Downloads 4302887 Challenges and Solutions to Human Capital Development in Thailand
Authors: Nhabhat Chaimongkol
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Human capital is one of the factors that are vital for economic growth. This is especially true as humans will face increasingly more forms of disruptive technology in the near future. Therefore, there is a need to develop human capital in order to overcome the current uncertainty in the global economy and the future of jobs. In recent years, Thailand has increasingly devoted more attention to developing its human capital. The Thai government has raised this issue in its national agenda, which is part of its 20-year national strategy. Currently, there are multiple challenges and solutions regarding this issue. This study aims to find out what are the challenges and solutions to human capital development in Thailand. The research in this study uses mixed methods consisting of quantitative and qualitative research methods. The results show that while Thailand has many plans to develop human capital, it is still lacking the necessary actions and integrations that are required to achieve its goals. Finally, the challenges and solutions will be discussed in detail.Keywords: challenges, human capital, solutions, Thailand
Procedia PDF Downloads 1752886 Improvement Image Summarization using Image Processing and Particle swarm optimization Algorithm
Authors: Hooman Torabifard
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In the last few years, with the progress of technology and computers and artificial intelligence entry into all kinds of scientific and industrial fields, the lifestyles of human life have changed and in general, the way of humans live on earth has many changes and development. Until now, some of the changes has occurred in the context of digital images and image processing and still continues. However, besides all the benefits, there have been disadvantages. One of these disadvantages is the multiplicity of images with high volume and data; the focus of this paper is on improving and developing a method for summarizing and enhancing the productivity of these images. The general method used for this purpose in this paper consists of a set of methods based on data obtained from image processing and using the PSO (Particle swarm optimization) algorithm. In the remainder of this paper, the method used is elaborated in detail.Keywords: image summarization, particle swarm optimization, image threshold, image processing
Procedia PDF Downloads 1362885 Commodity Price Shocks and Monetary Policy
Authors: Faisal Algosair
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We examine the role of monetary policy in the presence of commodity price shocks using a Dynamic stochastic general equilibrium (DSGE) model with price and wage rigidities. The model characterizes a commodity exporter by its degree of export diversification, and explores the following monetary regimes: flexible domestic inflation targeting; flexible Consumer Price Index inflation targeting; exchange rate peg; and optimal rule. An increase in the degree of diversification is found to mitigate responses to commodity shocks. The welfare comparison suggests that a flexible exchange rate regime under the optimal rule is preferred to an exchange rate peg. However, monetary policy provides limited stabilization effects in an economy with low degree of export diversification.Keywords: business cycle, commodity price, exchange rate, global financial cycle
Procedia PDF Downloads 992884 Employers’ Perspective on Female Graduate Employability in Nigeria
Authors: Temitope Faloye
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In today’s changing job market economy, most employers of labor want employees who are employable and possess relevant skills. Graduates need to possess generic skills due to the continually changing nature of the job market, which requires adaptive coping strategies. Most employers of labor complain that graduates are not employable, which is one of the major factors causing a high rate of graduate unemployment in Nigeria. However, the number of unemployed females is higher than that of unemployed males; hence gender difference is linked to the employability of graduates. The human capital theory is considered an appropriate theory for this study. A qualitative approach will be used to provide answers to the research questions. Therefore, the research study aims to investigate the employers’ perspective on female graduate employability in Nigeria.Keywords: graduate employability, generic skills, graduate unemployment, gender
Procedia PDF Downloads 1862883 Application of Mathematical Sciences to Farm Management
Authors: Fahad Suleiman
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Agriculture has been the mainstay of the nation’s economy in Nigeria. It provides food for the ever rapidly increasing population and raw materials for the industries. People especially the rural dwellers are gainfully employed on their crop farms and small-scale livestock farms for income earning. In farming, availability of funds and time management are one of the major factors that influence the system of farming in Nigeria in which mathematical science knowledge was highly required in order for farms to be managed effectively. Farmers often applied mathematics, almost every day for a variety of tasks, ranging from measuring and weighing, to land marking. This paper, therefore, explores some of the ways math is used in farming. For instance, farmers use arithmetic variety of farm activities such as seed planting, harvesting crop, cultivation and mulching. It is also important in helping farmers to know how much their livestock weighs, how much milk their cows produce and crop yield per acres, among others.Keywords: agriculture, application, economic, farming, mathematics
Procedia PDF Downloads 2552882 Memetic Marketing: An Emerging Online Marketing Trend and the Case with #TFWGucci Meme Campaign
Authors: Vehbi Gorgulu
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The primary objective of the current study is to explore how brand managers can employ Internet memes as a marketing tool. Internet memes are marked for their sarcastic and entertaining content and their amateur/DIY natures. The current study focuses on #TFWGucci, a collaborative marketing project enacted by Gucci, which is marked for being one of the first structured collaborative memetic marketing campaigns in the world. By embracing a qualitative approach, the study will explore production and meaning making processes of #TFWGucci campaign via analysis of sample campaign contents. The study will provide hints and insights for digital marketers on how to employ memetic marketing strategies in successful ways.Keywords: meme, internet meme, online marketing, memetic marketing, #TFWGucci
Procedia PDF Downloads 2362881 Heilong-Amur River: From Disputed Border to Brigde of Cooperation
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With the international river playing an increasingly important role in international relations, the border river between China and Russia has attracted more attention. During the history of Sino-Russian relations, Heilong-Amur River used to be a disputed border. The Sino-Russian transboundary water cooperation regarding the Heilong-Amur River started in 1950s and has obtained rapid improvement. In the 21st century, this cooperation has made substantial progress, which is worthy of a further study. However, this cooperation is facing with obstacles in aspects of economy, policy, implementation and mutual understandings. Under this circumstance, from the perspective of China, it is of necessity to realize these problems and take appropriate measures to promote the cooperation. The current Sino-Russian relations is conducive to transboundary water resources cooperation regarding the Heilong-Amur River and some measures adopted by China are already ongoing.Keywords: China, cooperation, Heilong-Amur River, Russia
Procedia PDF Downloads 3812880 The Impact of Information Communication Technology on Promoting Travel Trade Industry in a Developing Economy, Case Study Nigeria
Authors: Murtala Mohammed Alamai, Abdullahi Marshal Idris, Adama Idris
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Today, marketing does not only involve selecting target markets, but it also involves communicating with the customers through various means to put across your selling point. Modern marketing involves driving new product development based on customer needs by getting feedback from them. Utilizing the latest technology for better communication with the customers is the latest advancement in Marketing in the 21st century. The survey approach was used where a sample of tourist destinations across the six geographical zones of the country at random was done to ascertain the use of information communication systems in promoting their products and or services, the findings revealed that only a few utilize these modern advanced means in marketing and promoting their products and a need to develop effective and up to date online services for marketing was proffered as solutions to the findings observed.Keywords: information, communication, travel, trade, promotion
Procedia PDF Downloads 3252879 Wavelet Based Advanced Encryption Standard Algorithm for Image Encryption
Authors: Ajish Sreedharan
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With the fast evolution of digital data exchange, security information becomes much important in data storage and transmission. Due to the increasing use of images in industrial process, it is essential to protect the confidential image data from unauthorized access. As encryption process is applied to the whole image in AES ,it is difficult to improve the efficiency. In this paper, wavelet decomposition is used to concentrate the main information of image to the low frequency part. Then, AES encryption is applied to the low frequency part. The high frequency parts are XORed with the encrypted low frequency part and a wavelet reconstruction is applied. Theoretical analysis and experimental results show that the proposed algorithm has high efficiency, and satisfied security suits for image data transmission.Keywords: discrete wavelet transforms, AES, dynamic SBox
Procedia PDF Downloads 4342878 Gender Equality and the Politics of Presence among the Maasai in Kenya
Authors: Shillah Memusi
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Underrepresentation of women in governance structures is a global phenomenon, with patriarchal considerations being among the main, if not the top, reason for this in Sub Saharan Africa. This paper demonstrates that gender norms and informal rules have perpetuated a culture of stereotypical gender roles that have limited women’s public participation and leadership in society. To achieve this, the paper explores barriers to women’s political engagement, and how these are navigated in the face of gender equality laws. Situated in Kenya’s Maasai community, the paper investigates the influence of set laws on the increased involvement of women from the patriarchal community in the political economy. It gives special attention to the intersectionality of formal and informal laws and the subsequent interpretation and implementation of gender equality. The paper then concludes by demonstrating the benefits of exploring alternative gender equality pathways, as informed by contextual realities of settings such as patriarchal communities.Keywords: equality, Kenya, patriarchy, public participation, women
Procedia PDF Downloads 3032877 Face App: AI-Powered Photo Editing
Authors: Reema Zagzoog, Bedour Al-Abbadi, Haneen Iskandar
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FaceApp, a popular photo editing app, has taken the world by storm with its ability to transform faces using advanced AI. This project dives deep into the app's features, analyzing its impact and user perception. By collecting and analyzing user feedback and app metrics, we explored how AI is used to manipulate facial features, such as age, gender, and expression. We dissected the realism of these transformations and the appeal they hold for users. Additionally, we investigated the most popular editing tools within the app, gaining insights into user preferences and behavior. Through a blend of quantitative and qualitative analysis, we uncovered key findings that shed light on the effectiveness of AI-powered photo editing. Our research provides valuable insights into user behavior and preferences, offering implications for future developments in the field of digital image processing.Keywords: features, AI-powered photo editing, facial, analyze
Procedia PDF Downloads 122876 Estimation of Stress Intensity Factors from near Crack Tip Field
Authors: Zhuang He, Andrei Kotousov
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All current experimental methods for determination of stress intensity factors are based on the assumption that the state of stress near the crack tip is plane stress. Therefore, these methods rely on strain and displacement measurements made outside the near crack tip region affected by the three-dimensional effects or by process zone. In this paper, we develop and validate an experimental procedure for the evaluation of stress intensity factors from the measurements of the out-of-plane displacements in the surface area controlled by 3D effects. The evaluation of stress intensity factors is possible when the process zone is sufficiently small, and the displacement field generated by the 3D effects is fully encapsulated by K-dominance region.Keywords: digital image correlation, stress intensity factors, three-dimensional effects, transverse displacement
Procedia PDF Downloads 6182875 Process Simulation of 1-Butene Separation from C4 Mixture by Extractive Distillation
Authors: Muhammad Naeem, Abdulrahman A. Al-Rabiah, Wasif Mughees
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Technical mixture of C4 containing 1-butene and n-butane are very close to each other with regard to their boiling points i.e. -6.3°C for 1-butene and -1°C for n-butane. Extractive distillation process is used for the separation of 1-butene from the existing mixture of C4. The solvent is the essential of extractive distillation, and an appropriate solvent plays an important role in the process economy of extractive distillation. Aspen Plus has been applied for the separation of these hydrocarbons as a simulator. Moreover, NRTL activity coefficient model was used in the simulation. This model indicated that the material balances in this separation process were accurate for several solvent flow rates. Mixture of acetonitrile and water used as a solvent and 99% pure 1-butene was separated. This simulation proposed the ratio of the feed to solvent as 1: 7.9 and 15 plates for the solvent recovery column. Previously feed to solvent ratio was more than this and the number of proposed plates were 30, which shows that the separation process can be economized.Keywords: extractive distillation, 1-butene, aspen plus, ACN solvent
Procedia PDF Downloads 5482874 An Operational Model for eMarketing Technology Deployment in Higher Education in the UK
Authors: Amitave Banik
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The terms “eMarketing,” “online marketing,” and “Internet marketing” are frequently interchanged and can often be considered synonymous. eMarketing technologies, tactics, tools and strategies can help UK universities to achieve potential competitive benefits. In UK universities, the uptake of eMarketing has been relatively limited, and the complexity of managing eMarketing has become more challenging. Many UK universities are only at an early stage of developing their online marketing capabilities and have not yet to identify their core digital marketing tools and techniques. This research investigates eMarketing adoption and deployment initiatives and provides insights into how to successfully develop and implement these initiatives in UK universities. Moreover, this research puts forward a provisional conceptual framework for eMarketing strategy implementation that relates strategy objectives and operational requirements to technology utilization. The research conducted the epistemological assumptions relate to “how things really are” and “how things really work” in an assumed reality. The methodological assumptions relate to the process of building the conceptual framework and assessing what it can provide about the “real” world. Based on the concept, the framework recognizes the various eMarketing channels, eMarketing techniques and eMarketing strategies that are used to reach the widest student base. A qualitative research method, based on narrative in-depth case studies, includes an empirical investigation at the University of Gloucestershire, University of Wales Trinity St David, University of Westminster, and London Metropolitan Business school. The selection of case/ university provides additional value because there is no previous study studied at this level. Questionnaires and semi-structured interviews have been conducted to gather data from selected universities’ academics and professional services staff. Narrative inquiry has been employed as a tool for analysis of conversations and interviews. Framework analysis used to identify common themes to build/ innovate an operational model from the original provisional conceptual framework. The proposed operational model will provide appropriate eMarketing strategies that create and sustain a competitive business development (business expansion and market growth). Besides, it will offer to one or several segments of customers and its network of partners for creating, marketing and building up relationships to generate profitable and sustainable revenue streams. In this context, the operational model will serve as an instructional-technological interactions roadmap, outlining essential components to guide the eMarketing technological deployment in UK universities.Keywords: eMarketing, digital technologies, marketing mix, eMarketing plan, strategies, tactics, conceptual framework, operational model, higher education organizations
Procedia PDF Downloads 62873 Metal-Oxide-Semiconductor-Only Process Corner Monitoring Circuit
Authors: Davit Mirzoyan, Ararat Khachatryan
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A process corner monitoring circuit (PCMC) is presented in this work. The circuit generates a signal, the logical value of which depends on the process corner only. The signal can be used in both digital and analog circuits for testing and compensation of process variations (PV). The presented circuit uses only metal-oxide-semiconductor (MOS) transistors, which allow increasing its detection accuracy, decrease power consumption and area. Due to its simplicity the presented circuit can be easily modified to monitor parametrical variations of only n-type and p-type MOS (NMOS and PMOS, respectively) transistors, resistors, as well as their combinations. Post-layout simulation results prove correct functionality of the proposed circuit, i.e. ability to monitor the process corner (equivalently die-to-die variations) even in the presence of within-die variations.Keywords: detection, monitoring, process corner, process variation
Procedia PDF Downloads 5272872 Commercialization of Film Festivals: An Autobiographical Analysis
Authors: Önder M. Özdem
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Producing and circulating films of professional standards have become technically easier with the development and widespread use of digital recording and distribution technologies. Additionally, film festivals on common platforms have rapidly increased in numbers and diversity. On the one hand, no-charge applications result in excessive submissions; thus, it complicates the evaluation and selection process. On the other hand, festival’s high submission fees may make the distribution of films with a limited budget very difficult. Inspired by the author’s engagement with the film industry as both a pre-jury member of an international film festival and an applicant to many festivals, this study discusses the causes and consequences of the increasing commercialization of film festivals. The author’s double identity, both as a jury and an applicant, provides a comparative perspective through which one can unfold the different dimensions and dynamics in the film production and distribution processes.Keywords: commercialization, film distribution, film festivals, film production
Procedia PDF Downloads 802871 The Analysis of the Blockchain Technology and Challenges Hampering Its Adoption
Authors: Sthembile Mthethwa
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With the rise in the usage of internet in the past decades, this presented an opportunity for users to transact with each other over the use of internet. Cryptocurrencies have been introduced, which allows users to transact with each other without the involvement of a third party i.e. the bank. These systems are widely known as cryptocurrencies or digital currencies and the first system to be introduced was Bitcoin which has been receiving a lot of attention. Bitcoin introduced a new technology known as the blockchain technology. In the past years, blockchain has been getting attention; whereby new applications are introduced that utilize blockchain. Yet, most people are still hesitant about the adoption of blockchain and the adoption of cryptocurrencies at large. Some people still do not understand the technology. Thus, it leads to the slow adoption of this technology. In this paper, a review of the blockchain is provided, whereby the different types of blockchain are discussed in details. Details of the things that contribute to the hindrance of the process of adoption are discussed.Keywords: bitcoin, blockchain, cryptocurrency, payment system
Procedia PDF Downloads 2922870 Interface Designer as Cultural Producer: A Dialectic Materialist Approach to the Role of Visual Designer in the Present Digital Era
Authors: Cagri Baris Kasap
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In this study, how interface designers can be viewed as producers of culture in the current era will be interrogated from a critical theory perspective. Walter Benjamin was a German Jewish literary critical theorist who, during 1930s, was engaged in opposing and criticizing the Nazi use of art and media. ‘The Author as Producer’ is an essay that Benjamin has read at the Communist Institute for the Study of Fascism in Paris. In this article, Benjamin relates directly to the dialectics between base and superstructure and argues that authors, normally placed within the superstructure should consider how writing and publishing is production and directly related to the base. Through it, he discusses what it could mean to see author as producer of his own text, as a producer of writing, understood as an ideological construct that rests on the apparatus of production and distribution. So Benjamin concludes that the author must write in ways that relate to the conditions of production, he must do so in order to prepare his readers to become writers and even make this possible for them by engineering an ‘improved apparatus’ and must work toward turning consumers to producers and collaborators. In today’s world, it has become a leading business model within Web 2.0 services of multinational Internet technologies and culture industries like Amazon, Apple and Google, to transform readers, spectators, consumers or users into collaborators and co-producers through platforms such as Facebook, YouTube and Amazon’s CreateSpace Kindle Direct Publishing print-on-demand, e-book and publishing platforms. However, the way this transformation happens is tightly controlled and monitored by combinations of software and hardware. In these global-market monopolies, it has become increasingly difficult to get insight into how one’s writing and collaboration is used, captured, and capitalized as a user of Facebook or Google. In the lens of this study, it could be argued that this criticism could very well be considered by digital producers or even by the mass of collaborators in contemporary social networking software. How do software and design incorporate users and their collaboration? Are they truly empowered, are they put in a position where they are able to understand the apparatus and how their collaboration is part of it? Or has the apparatus become a means against the producers? Thus, when using corporate systems like Google and Facebook, iPhone and Kindle without any control over the means of production, which is closed off by opaque interfaces and licenses that limit our rights of use and ownership, we are already the collaborators that Benjamin calls for. For example, the iPhone and the Kindle combine a specific use of technology to distribute the relations between the ‘authors’ and the ‘prodUsers’ in ways that secure their monopolistic business models by limiting the potential of the technology.Keywords: interface designer, cultural producer, Walter Benjamin, materialist aesthetics, dialectical thinking
Procedia PDF Downloads 1452869 Parameters of Minimalistic Mosque in India within Minimalism
Authors: Hafila Banu
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Minimalism is a postmodern style movement which emerged in the 50s of the twentieth century, but it was rapidly growing in the years of 60s and 70s. Minimalism is defined as the concept of minimizing distractions from what is truly valuable or essential. On the same grounds, works of minimalism offer a direct view at and raises questions about the true nature of the subject or object inviting the viewer to consider it for it for the real shape, a thought, a movement reminding us to focus on what is really important. The Architecture of Minimalism is characterized by an economy with materials , focusing on building quality with considerations for ‘essences’ as light, form, detail of material, texture, space and scale, place and human conditions . The research of this paper is mainly into the basis of designing a minimalistic mosque in India while analysing the parameters for the design from the matching characteristics of Islamic architecture in specific to a mosque and the minimalism. Therefore, the paper is about the mosque architecture and minimalism and of their underlying principles, matching characteristics and design goals.Keywords: Islamic architecture, minimalism, minimalistic mosque, mosque in India
Procedia PDF Downloads 1982868 A New Approach to the Digital Implementation of Analog Controllers for a Power System Control
Authors: G. Shabib, Esam H. Abd-Elhameed, G. Magdy
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In this paper, a comparison of discrete time PID, PSS controllers is presented through small signal stability of power system comprising of one machine connected to infinite bus system. This comparison achieved by using a new approach of discretization which converts the S-domain model of analog controllers to a Z-domain model to enhance the damping of a single machine power system. The new method utilizes the Plant Input Mapping (PIM) algorithm. The proposed algorithm is stable for any sampling rate, as well as it takes the closed loop characteristic into consideration. On the other hand, the traditional discretization methods such as Tustin’s method is produce satisfactory results only; when the sampling period is sufficiently low.Keywords: PSS, power system stabilizer PID, proportional-integral-derivative PIM, plant input mapping
Procedia PDF Downloads 5102867 The Role of Structural Poverty in the Know-How and Moral Economy of Doctors in Africa: An Anthropological Perspective
Authors: Isabelle Gobatto
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Based on an anthropological approach, this paper explores the medical profession and the construction of medical practices by considering the multiform articulations between structural poverty and the production of care from a low-resource francophone West African country, Burkina Faso. This country is considered in its exemplary dimension of culturally differentiated countries of the African continent that share the same situation of structural poverty. The objective is to expose the effects of structural poverty on the ways of constructing professional knowledge and thinking about the sense of the medical profession. If doctors are trained to have the same capacities in South and West countries, which are to treat and save lives whatever the cultural contexts of the practice of medicine, the ways of investing their role and of dealing with this context of action fracture the homogenization of the medical profession. In the line of anthropology of biomedicine, this paper outlines the complex effects of structural poverty on health care, care relations, and the moral economy of doctors. The materials analyzed are based on an ethnography including two temporalities located thirty years apart (1990-1994 and 2020-2021), based on long-term observations of care practices conducted in healthcare institutions, interviews coupled with the life histories of physicians. The findings reveal that disabilities faced by doctors to deliver care are interpreted as policy gaps, but they are also considered by physicians as constitutive of the social and cultural characteristics of patients, making their capacities and incapacities in terms of accompanying caregivers in the production of care. These perceptions have effects on know-how, structured around the need to act even when diagnoses are not made so as not to see patients desert health structures if the costs of care are too high for them. But these interpretations of highly individualizing dimensions of these difficulties place part of the blame on patients for the difficulties in using learned knowledge and delivering effective care. These situations challenge the ethics of caregivers but also of ethnologists. Firstly because the interpretations of disabilities prevent caregivers from considering vulnerabilities of care as constituting a common condition shared with their patients in these health systems, affecting them in an identical way although in different places in the production of care. Correlatively, these results underline that these professional conceptions prevent the emergence of a figure of victim, which could be shared between patients and caregivers who, together, undergo working and care conditions at the limit of the acceptable. This dimension directly involves politics. Secondly, structural poverty and its effects on care challenge the ethics of the anthropologist who observes caregivers producing, without intent to arm, experiences of care marked by an ordinary violence, by not giving them the care they need. It is worth asking how anthropologists could get doctors to think in this light in west-African societies.Keywords: Africa, care, ethics, poverty
Procedia PDF Downloads 712866 Lie Symmetry Treatment for Pricing Options with Transactions Costs under the Fractional Black-Scholes Model
Authors: B. F. Nteumagne, E. Pindza, E. Mare
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We apply Lie symmetries analysis to price and hedge options in the fractional Brownian framework. The reputation of Lie groups is well spread in the area of Mathematical sciences and lately, in Finance. In the presence of transactions costs and under fractional Brownian motions, analytical solutions become difficult to obtain. Lie symmetries analysis allows us to simplify the problem and obtain new analytical solution. In this paper, we investigate the use of symmetries to reduce the partial differential equation obtained and obtain the analytical solution. We then proposed a hedging procedure and calibration technique for these types of options, and test the model on real market data. We show the robustness of our methodology by its application to the pricing of digital options.Keywords: fractional brownian model, symmetry, transaction cost, option pricing
Procedia PDF Downloads 4012865 Long Memory and ARFIMA Modelling: The Case of CPI Inflation for Ghana and South Africa
Authors: A. Boateng, La Gil-Alana, M. Lesaoana; Hj. Siweya, A. Belete
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This study examines long memory or long-range dependence in the CPI inflation rates of Ghana and South Africa using Whittle methods and autoregressive fractionally integrated moving average (ARFIMA) models. Standard I(0)/I(1) methods such as Augmented Dickey-Fuller (ADF), Philips-Perron (PP) and Kwiatkowski–Phillips–Schmidt–Shin (KPSS) tests were also employed. Our findings indicate that long memory exists in the CPI inflation rates of both countries. After processing fractional differencing and determining the short memory components, the models were specified as ARFIMA (4,0.35,2) and ARFIMA (3,0.49,3) respectively for Ghana and South Africa. Consequently, the CPI inflation rates of both countries are fractionally integrated and mean reverting. The implication of this result will assist in policy formulation and identification of inflationary pressures in an economy.Keywords: Consumer Price Index (CPI) inflation rates, Whittle method, long memory, ARFIMA model
Procedia PDF Downloads 3732864 Development of Student Invention Competences and Skills in Polytechnic University
Authors: D. S. Denchuk, O. M. Zamyatina, M. G. Minin, M. A. Soloviev, K. V. Bogrova
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The article considers invention activity in Russia and worldwide, its modern state, and the impact of innovative engineering activity on the national economy of the considered countries. It also analyses the historical premises of modern engineer-ing invention. The authors explore the development of engineering invention at an engineer-ing university, the creation of particular environment for scientific and technical creativity of students on the example of Elite engineering education program at Tomsk Polytechnic University, Russia. It is revealed that for the successful de-velopment of engineering invention in a higher education institution it is neces-sary to apply a learning model that develops the creative potential of a student, which is, in its turn, inseparably connected with the ability to generate new ideas in engineering. Such academic environment can become a basis for revealing stu-dents' creativity.Keywords: engineering invention, scientific and technical creativity, students, project-based approach
Procedia PDF Downloads 3922863 A Dynamic Model for Circularity Assessment of Nutrient Recovery from Domestic Sewage
Authors: Anurag Bhambhani, Jan Peter Van Der Hoek, Zoran Kapelan
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The food system depends on the availability of Phosphorus (P) and Nitrogen (N). Growing population, depleting Phosphorus reserves and energy-intensive industrial nitrogen fixation are threats to their future availability. Recovering P and N from domestic sewage water offers a solution. Recovered P and N can be applied to agricultural land, replacing virgin P and N. Thus, recovery from sewage water offers a solution befitting a circular economy. To ensure minimum waste and maximum resource efficiency a circularity assessment method is crucial to optimize nutrient flows and minimize losses. Material Circularity Indicator (MCI) is a useful method to quantify the circularity of materials. It was developed for materials that remain within the market and recently extended to include biotic materials that may be composted or used for energy recovery after end-of-use. However, MCI has not been used in the context of nutrient recovery. Besides, MCI is time-static, i.e., it cannot account for dynamic systems such as the terrestrial nutrient cycles. Nutrient application to agricultural land is a highly dynamic process wherein flows and stocks change with time. The rate of recycling of nutrients in nature can depend on numerous factors such as prevailing soil conditions, local hydrology, the presence of animals, etc. Therefore, a dynamic model of nutrient flows with indicators is needed for the circularity assessment. A simple substance flow model of P and N will be developed with the help of flow equations and transfer coefficients that incorporate the nutrient recovery step along with the agricultural application, the volatilization and leaching processes, plant uptake and subsequent animal and human uptake. The model is then used for calculating the proportions of linear and restorative flows (coming from reused/recycled sources). The model will simulate the adsorption process based on the quantity of adsorbent and nutrient concentration in the water. Thereafter, the application of the adsorbed nutrients to agricultural land will be simulated based on adsorbate release kinetics, local soil conditions, hydrology, vegetation, etc. Based on the model, the restorative nutrient flow (returning to the sewage plant following human consumption) will be calculated. The developed methodology will be applied to a case study of resource recovery from wastewater. In the aforementioned case study located in Italy, biochar or zeolite is to be used for recovery of P and N from domestic sewage through adsorption and thereafter, used as a slow-release fertilizer in agriculture. Using this model, information regarding the efficiency of nutrient recovery and application can be generated. This can help to optimize the recovery process and application of the nutrients. Consequently, this will help to optimize nutrient recovery and application and reduce the dependence of the food system on the virgin extraction of P and N.Keywords: circular economy, dynamic substance flow, nutrient cycles, resource recovery from water
Procedia PDF Downloads 2002862 Design of a Small and Medium Enterprise Growth Prediction Model Based on Web Mining
Authors: Yiea Funk Te, Daniel Mueller, Irena Pletikosa Cvijikj
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Small and medium enterprises (SMEs) play an important role in the economy of many countries. When the overall world economy is considered, SMEs represent 95% of all businesses in the world, accounting for 66% of the total employment. Existing studies show that the current business environment is characterized as highly turbulent and strongly influenced by modern information and communication technologies, thus forcing SMEs to experience more severe challenges in maintaining their existence and expanding their business. To support SMEs at improving their competitiveness, researchers recently turned their focus on applying data mining techniques to build risk and growth prediction models. However, data used to assess risk and growth indicators is primarily obtained via questionnaires, which is very laborious and time-consuming, or is provided by financial institutes, thus highly sensitive to privacy issues. Recently, web mining (WM) has emerged as a new approach towards obtaining valuable insights in the business world. WM enables automatic and large scale collection and analysis of potentially valuable data from various online platforms, including companies’ websites. While WM methods have been frequently studied to anticipate growth of sales volume for e-commerce platforms, their application for assessment of SME risk and growth indicators is still scarce. Considering that a vast proportion of SMEs own a website, WM bears a great potential in revealing valuable information hidden in SME websites, which can further be used to understand SME risk and growth indicators, as well as to enhance current SME risk and growth prediction models. This study aims at developing an automated system to collect business-relevant data from the Web and predict future growth trends of SMEs by means of WM and data mining techniques. The envisioned system should serve as an 'early recognition system' for future growth opportunities. In an initial step, we examine how structured and semi-structured Web data in governmental or SME websites can be used to explain the success of SMEs. WM methods are applied to extract Web data in a form of additional input features for the growth prediction model. The data on SMEs provided by a large Swiss insurance company is used as ground truth data (i.e. growth-labeled data) to train the growth prediction model. Different machine learning classification algorithms such as the Support Vector Machine, Random Forest and Artificial Neural Network are applied and compared, with the goal to optimize the prediction performance. The results are compared to those from previous studies, in order to assess the contribution of growth indicators retrieved from the Web for increasing the predictive power of the model.Keywords: data mining, SME growth, success factors, web mining
Procedia PDF Downloads 2692861 Green Synthesis of Nicotine Analogues via Cycloaddition Reactions
Authors: Agnieszka Fryźlewicz, Jowita Kras, Mikołaj Sadowski, Agnieszka Łapczuk-Krygier, Agnieszka Kącka-Zych Radomir Jasiński
Abstract:
Nicotines are a group of compounds containing conjugated pyridine and pyrrolidine molecular segments. They are widely applied in medicine, pharmacy, and agriculture. Namely as researched treatment of Alzheimer, depression, Parkinson's, Tourette syndrome, general nervous and mental disorders. Furthermore, nicotine itself is used as a stimulant, animal repellent and was widely applied as an insecticide. In our work, we obtained nicotine analogues with possible applications in agriculture. The synthesis employed [3+2] cycloaddition (32CA) reactions, occurring between pirydyl-functionalised nitrones and conjugated nitroalkenes, that allowed us to fully regio- and stereoselectively obtain product. Moreover, cycloaddition reaction realizes rapidly in mild conditions with the full atomic economy, thus fitting into “green chemistry” trends.Keywords: nicotine, isoxazolidine, 1-3-dipolar cycloaddition, green chemistry, biological and pharmacological activity
Procedia PDF Downloads 912860 The Concept of Commercial Dispute Resolution through the Court in Indonesia
Authors: Anita Afriana, Efa Laela Fakhriah
Abstract:
The law of civil procedure which is currently in effect in Indonesia is still referring to the rules applicable at the time of the Dutch East Indies, that is Het Herziene Indonesisch Reglement (HIR) and Reglement Tot Regeling Van Het Rechtswezen In De gewesten Buiten Java En Madura (RBg). With the fact that the enactment of this has been very long, there are some things that are no longer suitable with the circumstances and needs of the community in seeking justice today. Therefore, a new regulation on the law of civil procedure is required and the discussions of the draft are currently being carried out. The fast examination of dispute in civil procedure is required to accelerate the growth of Indonesia’s economy by accelerating the dispute resolution method (time efficiency). With the provision of the quick examination on commercial disputes mentioned above, it is expected to benefit the community in order to obtain a tool of dispute resolution efficiently and effectively, so as making justice fast and inexpensive, especially for the resolution of commercial disputes.Keywords: commercial dispute, civil law procedure, court, Indonesia
Procedia PDF Downloads 513