Search results for: cost valuation method

Authors: Wajih Abbassi, Zouhaier Ben Khelifa

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The present research points towards the empirical validation of three options valuation models, the ad-hoc Black-Scholes model as proposed by Berkowitz (2001), the constant elasticity of variance model of Cox and Ross (1976) and the Kou jump-diffusion model (2002). Our empirical analysis has been conducted on a sample of 26,974 options written on three indexes, the S&P 500, Nasdaq 100 and the Russell 2000 that were negotiated during the year 2007 just before the sub-prime crisis. We start by presenting the theoretical foundations of the models of interest. Then we use the technique of trust-region-reflective algorithm to estimate the structural parameters of these models from cross-section of option prices. The empirical analysis shows the superiority of the Kou jump-diffusion model. This superiority arises from the ability of this model to portray the behavior of market participants and to be closest to the true distribution that characterizes the evolution of these indices. Indeed the double-exponential distribution covers three interesting properties that are: the leptokurtic feature, the memory less property and the psychological aspect of market participants. Numerous empirical studies have shown that markets tend to have both overreaction and under reaction over good and bad news respectively. Despite of these advantages there are not many empirical studies based on this model partly because probability distribution and option valuation formula are rather complicated. This paper is the first to have used the technique of nonlinear curve-fitting through the trust-region-reflective algorithm and cross-section options to estimate the structural parameters of the Kou jump-diffusion model.

Keywords: jump-diffusion process, Kou model, Leptokurtic feature, trust-region-reflective algorithm, US index options

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Authors: Fehmi Bouguezzi

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This paper studies optimal licensing regimes in a linear Hotelling model where firms are located at the end points of the city and where the transportation cost is not linear but quadratic. We study for that a more general cost function and we try to compare the findings with the results of the linear cost. We find the same optimal licensing regimes. A per unit royalty is optimal when innovation is not drastic and no licensing is better when innovation is drastic. We also find that no licensing is always better than fixed fee licensing.

Keywords: Hotelling model, technology transfer, patent licensing, quadratic transportation cost

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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: A. Arshad, M. Lehtonen. M. Humayun

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With the increasing Distributed Generation (DG) penetration, distribution systems are advancing towards the smart grid technology for least latency in tackling voltage control problem in a distributed manner. This paper proposes a Multi-agent based distributed voltage level control. In this method a flat architecture of agents is used and agents involved in the whole controlling procedure are On Load Tap Changer Agent (OLTCA), Static VAR Compensator Agent (SVCA), and the agents associated with DGs and loads at their locations. The objectives of the proposed voltage control model are to minimize network losses and DG curtailments while maintaining voltage value within statutory limits as close as possible to the nominal. The total loss cost is the sum of network losses cost, DG curtailment costs, and voltage damage cost (which is based on penalty function implementation). The total cost is iteratively calculated for various stricter limits by plotting voltage damage cost and losses cost against varying voltage limit band. The method provides the optimal limits closer to nominal value with minimum total loss cost. In order to achieve the objective of voltage control, the whole network is divided into multiple control regions; downstream from the controlling device. The OLTCA behaves as a supervisory agent and performs all the optimizations. At first, a token is generated by OLTCA on each time step and it transfers from node to node until the node with voltage violation is detected. Upon detection of such a node, the token grants permission to Load Agent (LA) for initiation of possible remedial actions. LA will contact the respective controlling devices dependent on the vicinity of the violated node. If the violated node does not lie in the vicinity of the controller or the controlling capabilities of all the downstream control devices are at their limits then OLTC is considered as a last resort. For a realistic study, simulations are performed for a typical Finnish residential medium-voltage distribution system using Matlab ®. These simulations are executed for two cases; simple Distributed Voltage Control (DVC) and DVC with optimized loss cost (DVC + Penalty Function). A sensitivity analysis is performed based on DG penetration. The results indicate that costs of losses and DG curtailments are directly proportional to the DG penetration, while in case 2 there is a significant reduction in total loss. For lower DG penetration, losses are reduced more or less 50%, while for higher DG penetration, loss reduction is not very significant. Another observation is that the newer stricter limits calculated by cost optimization moves towards the statutory limits of ±10% of the nominal with the increasing DG penetration as for 25, 45 and 65% limits calculated are ±5, ±6.25 and 8.75% respectively. Observed results conclude that the novel voltage control algorithm proposed in case 1 is able to deal with the voltage control problem instantly but with higher losses. In contrast, case 2 make sure to reduce the network losses through proposed iterative method of loss cost optimization by OLTCA, slowly with time.

Keywords: distributed voltage control, distribution system, multi-agent systems, smart grids

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Authors: Musaab Riyadh, Norwati Mustapha, Dina Riyadh

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Trajectory similarity can be defined as the cost of transforming one trajectory into another based on certain similarity method. It is the core of numerous mining tasks such as clustering, classification, and indexing. Various approaches have been suggested to measure similarity based on the geometric and dynamic properties of trajectory, the overlapping between trajectory segments, and the confined area between entire trajectories. In this article, an evaluation of these approaches has been done based on computational cost, usage memory, accuracy, and the amount of data which is needed in advance to determine its suitability to stream mining applications. The evaluation results show that the stream mining applications support similarity methods which have low computational cost and memory, single scan on data, and free of mathematical complexity due to the high-speed generation of data.

Keywords: global distance measure, local distance measure, semantic trajectory, spatial dimension, stream data mining

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Authors: Mohammadreza Vafaei, Amirali Moradi, Sophia C. Alih

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The method selected for the design of structures not only can affect their seismic vulnerability but also can affect their construction cost. For the design of steel structures, two distinct methods have been introduced by existing codes, namely allowable stress design (ASD) and load resistant factor design (LRFD). This study investigates the effect of using the aforementioned design methods on the seismic vulnerability and construction cost of steel structures. Specifically, a 20-story building equipped with special moment resisting frame and an eccentrically braced system was selected for this study. The building was designed for three different intensities of peak ground acceleration including 0.2 g, 0.25 g, and 0.3 g using the ASD and LRFD methods. The required sizes of beams, columns, and braces were obtained using response spectrum analysis. Then, the designed frames were subjected to nine natural earthquake records which were scaled to the designed response spectrum. For each frame, the base shear, story shears, and inter-story drifts were calculated and then were compared. Results indicated that the LRFD method led to a more economical design for the frames. In addition, the LRFD method resulted in lower base shears and larger inter-story drifts when compared with the ASD method. It was concluded that the application of the LRFD method not only reduced the weights of structural elements but also provided a higher safety margin against seismic actions when compared with the ASD method.

Keywords: allowable stress design, load resistant factor design, nonlinear time history analysis, seismic vulnerability, steel structures

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Authors: Tahereh Talebi, Reza Ghomashchi, Pejman Talemi, Sima Aminorroaya

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A high quality crack-free film of Bi₂Te₃ material has been deposited for the first time using electrophoretic deposition (EPD) and microstructures of various films have been investigated. One of the most important thermoelectric (TE) applications is Bi₂Te₃ to manufacture TE generators (TEG) which can convert waste heat into electricity targeting the global warming issue. However, the high cost of the manufacturing process of TEGs keeps them expensive and out of reach for commercialization. Therefore, utilizing EPD as a simple and cost-effective method will open new opportunities for TEG’s commercialization. This method has been recently used for advanced materials such as microelectronics and has attracted a lot of attention from both scientists and industry. In this study, the effect of media of suspensions has been investigated on the quality of the deposited films as well as their microstructure. In summary, finding an appropriate suspension is a critical step for a successful EPD process and has an important effect on both the film’s quality and its future properties.

Keywords: Bi2Te3, electrical conductivity, electrophoretic deposition, thermoelectric materials, thick films

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Authors: Khaldon Lweesy, Feryal Alskafi, Rabaa Hammad, Shaker Khanfar, Yara Alsukhni

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Electronic noses are devices designed to emulate the humane sense of smell by characterizing and differentiating odor profiles. In this study, we build a low-cost e-nose using an array module containing four different types of metal oxide semiconductor gas sensors. We used this system to create a profile for a meat specimen over three days. Then using a pattern recognition software, we correlated the odor of the specimen to its age. It is a simple, fast detection method that is both non-expensive and non-destructive. The results support the usage of this technology in food control management.

Keywords: e-nose, low cost, odor detection, food safety

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Authors: Maru Chetan, Desai Abhilash

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The structural characteristics & application of TiO2 powder with different phases are study by various techniques in this paper. TTIP, EG and citric acid use as Ti source and catalyst respectively synthesis for sol gel synthesis of TiO2 powder. To replace sol gel method we develop the new method of making nano particle of TiO2 powder. It is two route method one is physical and second one is chemical route. Specific aim to this process is to minimize the production cost and the large scale production of nano particle The synthesis product work characterize by EDAX, SEM, XRD tests.

Keywords: mortal and pestle, nano particle , TiO2, TTIP

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Authors: Syed Noaman Shah

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The current paper evaluates the effect of external public debt risk on the borrowing cost of private non-financial firms in euro zone. Further, the study also treats the impact of austerity measures on syndicated-loan spreads of private firm followed by euro area member states to revive the economic growth in the region. To test these hypotheses, we follow multivariate ordinary least square estimation method to assess the effect of external public debt on the borrowing cost of private firms. By using foreign syndicated-loan issuance data of non-financial private firms from 2005 to 2011, we attempt to gauge how the private financing cost varies with high levels of sovereign external debt prevalent in the euro zone. Our results suggest significant effect of external public debt on the borrowing cost of private firm. In particular, an increase in external public debt by one standard deviation from its sample mean raises syndicated-loan spread by 89 bps. Furthermore, weak creditor rights protection prevalent in member states deepens this effect. However, we do not find any significant effect of domestic public debt on the private sector borrowing cost. In addition, the results show significant effect of austerity measures on private financing cost, both in normal and in crisis period in the euro zone. In particular, one standard deviation change in fiscal consolidation conditional mean reduces the syndicated-loan spread by 22 bps. In turn, it indicates strong presence of credibility channel due to austerity measures in euro area region.

Keywords: corporate debt, fiscal consolidation, sovereign debt, syndicated-loan spread

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Authors: S. M. Javad Davoodi, Mojtaba Shourian

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Groundwater table close to the ground surface causes major problems in construction and mining operation. One of the methods to control groundwater in such cases is using pumping wells. These pumping wells remove excess water from the site project and lower the water table to a desirable value. Although the efficiency of this method is acceptable, it needs high expenses to apply. It means even small improvement in a design of pumping wells can lead to substantial cost savings. In order to minimize the total cost in the method of pumping wells, a simulation-optimization approach is applied. The proposed model integrates MODFLOW as the simulation model with Firefly as the optimization algorithm. In fact, MODFLOW computes the drawdown due to pumping in an aquifer and the Firefly algorithm defines the optimum value of design parameters which are numbers, pumping rates and layout of the designing wells. The developed Firefly-MODFLOW model is applied to minimize the cost of the dewatering project for the ancient mosque of Kerman city in Iran. Repetitive runs of the Firefly-MODFLOW model indicates that drilling two wells with the total rate of pumping 5503 m3/day is the result of the minimization problem. Results show that implementing the proposed solution leads to at least 1.5 m drawdown in the aquifer beneath mosque region. Also, the subsidence due to groundwater depletion is less than 80 mm. Sensitivity analyses indicate that desirable groundwater depletion has an enormous impact on total cost of the project. Besides, in a hypothetical aquifer decreasing the hydraulic conductivity contributes to decrease in total water extraction for dewatering.

Keywords: groundwater dewatering, pumping wells, simulation-optimization, MODFLOW, firefly algorithm

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Authors: Liang Zhao, Jili Zhang, Kai Li

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A microcontroller-based fan coil unit (FCU) fuzzy controller is designed and implemented in this paper. The controller employs the concept of duty ratio on the electric valve control, which could make full use of the cooling and dehumidifying capacity of the FCU when the valve is off. The traditional control method and its limitations are analyzed. The hardware and software design processes are introduced in detail. The experimental results show that the proposed method is more energy efficient compared to the traditional controlling strategy. Furthermore, a more comfortable room condition could be achieved by the proposed method. The proposed low-cost FCU fuzzy controller deserves to be widely used in engineering applications.

Keywords: fan coil unit, duty ratio, fuzzy controller, experiment

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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: Maha Salman, Gada Al-Nuwaibit, Ahmed Al-Haji, Saleh Al-Haddad, Abbas Al-Mesri, Mansour Al-Rugeeb

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The high salinity of oil-produced water and its complicated chemical composition, makes designing a suitable treatment system for oil-produced water is extremely difficult and costly. On the current study, a new innovative method was proposed to treat the complicated oil-produced water through a simple mixing with brine stream produced from waste water treatment plant. The proposal will investigate the scaling potential of oil-produce water, seawater and the selected brine water (BW) produced from Sulaibiya waste water treatment and reclamation plant (SWWTRP) before and after the mixing with oil-produced water, and will calculate the scaling potential of all expected precipitated salts using different conversion and different % of mixing to optimize the % of mixing between the oil-produced water and the selected stream. The result shows a great, feasible and economic solution to treat oil produced with a very low capital cost.

Keywords: brine water, oil-produced water, scaling potential, Sulaibiyah waste water and reclaminatin plant

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Authors: Maryam Tijjani Kolo

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Lack of refuse dumping points has made the residents of Shagari low-cost well armed with some health and environmental related hazards. These studies investigate the effect of household refuse on the resident of Shagari low-cost. A well structured questionnaire was administered to elicit views of the respondent in the study area through adopting cluster sampling method. A total of 100 questionnaires were selected and divided into 50, each to both sections of the study area. Interview was conducted to each household head. Data obtained were analyzed using simple parentages to determine the major hazard in the area. Result showed that majority of the household are civil servant and traders, earning reasonable monthly income. 68% of the respondent has experienced the effect of living close to waste dumping areas, which include unpleasant smell and polluted smoke when refuse is burnt, which causes eye and respiratory induction, human injury from broken bottles or sharp objects as well as water, insect and air borne diseases. Hence, the need to urgently address these menace before it overwhelms the capacities of the community becomes paramount. Thus, the community should be given more enlightenment and refuse dumping sites should be created by the local government area.

Keywords: household, refuse, refuse dumping points, Shagari low-cost

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Authors: Yao Xing, Hong Ling Liu, Wei Dong Yu

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With the increase of global population, it is of importance for the safe water supply, while, the water-monitoring method with the capability of rapidness, low-cost, green and robustness remains unsolved. In this paper, gold nanoclusters-wool keratin is added into copper ions measured by fluorescent method in order to probe copper ions in aqueous solution. The fluorescent results show that gold nanoclusters-wool keratin exhibits high stability of pHs, while it is sensitive to temperature and time. Based on Gauss fitting method, the results exhibit that the slope of gold nanoclusters-wool keratin with pH resolution under acidic condition is higher compared to it under alkaline solutions. Besides, gold nanoclusters-wool keratin added into copper ions shows a fluorescence turn-off response transferring from red to blue under UV light, leading to the dramatically decreased fluorescent intensity of gold nanoclusters-wool keratin solution located at 690 nm. Moreover, the limited concentration of copper ions tested by gold nanoclusters-wool keratin system is around 1 µmol/L, which meets the need of detection standards. The fitting slope of Stern-Volmer plot at low concentration of copper ions is larger than it at high concentrations, which indicates that aggregated gold nanoclusters are from small amounts to large numbers with the increasing concentration of copper ions. It is expected to provide novel method and materials for copper ions testing with low cost, high efficiency, and easy operability.

Keywords: gold nanoclusters, copper ions, wool keratin, fluorescence

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Authors: A. Poukens, I. Sluyts, A. Krings, J. Swartenbroekx, D. Geeroms, J. Poukens

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Introduction and Objectives: It has been known for many years that with the administration of intravenous medication, a rather significant part of the planned to be administered infusion solution, the residual volume ( the volume that remains in the IV line and or infusion bag), does not reach the patient and is wasted. This could possibly result in under dosage and diminished therapeutic effect. Despite the important impact on the patient, the reduction of residual volume lacks attention. An optimized and clearly stated protocol concerning the reduction of residual volume in an IV line is necessary for each hospital. As described in my Master’s thesis, acquiring the degree of Master in Hospital Pharmacy, administration of intravenous medication can be optimized by reduction of the residual volume. Herewith effectiveness, user-friendliness, cost efficiency and safety were taken into account. Material and Methods: By usage of a literature study and an online questionnaire sent out to all Flemish hospitals and hospitals in the Netherlands (province Limburg), current flush methods could be mapped out. In laboratory research, possible flush methods aiming to reduce the residual volume were measured. Furthermore, a self-developed experimental method to reduce the residual volume was added to the study. The current flush methods and the self-developed experimental method were compared to each other based on cost efficiency, user-friendliness and safety. Results: There is a major difference between the Flemish and the hospitals in the Netherlands (Province Limburg) concerning the approach and method of flushing IV lines after administration of intravenous medication. The residual volumes were measured and laboratory research showed that if flushing was done minimally 1-time equivalent to the residual volume, 95 percent of glucose would be flushed through. Based on the comparison, it became clear that flushing by use of a pre-filled syringe would be the most cost-efficient, user-friendly and safest method. According to laboratory research, the self-developed experimental method is feasible and has the advantage that the remaining fraction of the medication can be administered to the patient in unchanged concentration without dilution. Furthermore, this technique can be applied regardless of the level of the residual volume. Conclusion and Recommendations: It is recommendable to revise the current infusion systems and flushing methods in most hospitals. Aside from education of the hospital staff and alignment on a uniform substantiated protocol, an optimized and clear policy on the reduction of residual volume is necessary for each hospital. It is recommended to flush all IV lines with rinsing fluid with at least the equivalent volume of the residual volume. Further laboratory and clinical research for the self-developed experimental method are needed before this method can be implemented clinically in a broader setting.

Keywords: intravenous medication, infusion therapy, IV flushing, residual volume

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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: Naragain Phumchusri, Krisada Roekdethawesab, Manoj Lohatepanont

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Overbooking is an approach of selling more goods or services than available capacities because sellers anticipate that some buyers will not show-up or may cancel their bookings. At present, many airlines deploy overbooking strategy in order to deal with the uncertainty of their customers. Particularly, some airlines sell more cargo capacity than what they have available to freight forwarders with beliefs that some of them will cancel later. In this paper, we propose methods to find the optimal overbooking level of volume and weight for air cargo in order to minimize the total cost, containing cost of spoilage and cost of offloaded. Cancellations of volume and weight are jointly random variables with a known joint distribution. Heuristic approaches applying the idea of weight and volume independency is considered to find an appropriate answer to the full problem. Computational experiments are used to explore the performance of approaches presented in this paper, as compared to a naïve method under different scenarios.

Keywords: air cargo overbooking, offloading capacity, optimal overbooking level, revenue management, spoilage capacity

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Authors: Charmaine Lamiel, Van Hoa Nguyen, Jae-Jin Shim

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Supercapacitors are energy storage devices capable of storing more energy than conventional capacitors and have higher power density than batteries. The advantages of this method include the non-use of reducing agents and acidic medium, and no further use of a post-heat treatment unlike the conventional processes, in which calcination is generally employed after obtaining the initial product. Furthermore, it also offers a shorter reaction time at low temperatures and low power requirements, which allows low fabrication and energy cost. In this study, microwave irradiation was used for the facile and rapid synthesis of mesoporous RGO@(Co,Mn)3O4 nanosheets as an electrode material. The as-prepared electrode exhibited a high capacitance of 953 F•g^−1 at 1 A•g^−1 in a 6 M KOH electrolyte solution. Moreover, the electrode exhibited a high energy density of 76.2 Wh•kg^−1 at a power density of 720 W•kg^−1, and a high power density of 7200 W•kg^−1 at an energy density of 38 Wh•kg^−1. The successful methodology was considered to be efficient and cost-effective, thereby providing an active electrode material with very promising electrochemical performance.

Keywords: cobalt-manganese oxide, electrochemical, graphene, microwave synthesis, supercapacitor

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Authors: Young-Jun You, Youn-Ju Jeong, Min-Su Park, Du-Ho Lee

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Due to a lot of limited conditions, a large box type floating structure is inevitably constructed by connecting many pontoons. When a floating structure is made with concrete, concrete shear key with saw-teeth shape is often used to carry shear force. Match casting for the shear key and precise construction on a sea are very important for making separated two pontoons as one body but those are not easy work and may increase construction time and cost. To solve this problem, one-way shear key is studied in this paper for a connected part where there is some difference between upward and downward shear force. It has only one inclined plane and can resist shear force in one direction. Big shear force is resisted by concrete which forms an inclined plane and small shear force is resisted by steel bar. This system can reduce manufacturing cost of individual pontoon and construction time and cost for constructing a floating structure on a sea. In this paper, the feasibility study about one-way shear key system is performed by comparing with design example.

Keywords: connection, floating container terminal, pontoon, pre-stressing, shear key

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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

Abstract:

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: Andrzej Poszewiecki

Abstract:

The presented paper contributes to the experimental current of research on privacy. The question of privacy is being discussed at length at present, primarily among lawyers and politicians. However, the matter of privacy has been of interest for economists for some time as well. The valuation of privacy by people is of great importance now. This article is about how people valuate their privacy. An experimental method has been utilised in the conducted research – the survey was carried out among customers of an online store, and the studied issue was whether their readiness to sell their data (WTA) was different from the willingness to buy data back (WTP). The basic aim of this article is to analyse whether people shopping on the Internet differentiate their privacy depending on whether they protect or sell it. The achieved results indicate the presence of major differences in this respect, which do not always come up with the original expectations. The obtained results have supported the hypothesis that people are more willing to sell their data than to repurchase them. However, the hypothesis that the value of proposed remuneration affects the willingness to sell/buy back personal data (one’s privacy) has not been supported.

Keywords: privacy, experimental economics, behavioural economics, internet

Procedia PDF Downloads 266

Authors: Milica Ž. Karadžić, Lidija R. Jevrić, Sanja Podunavac-Kuzmanović, Strahinja Z. Kovačević, Anamarija I. Mandić, Katarina Penov-Gaši, Andrea R. Nikolić, Aleksandar M. Oklješa

Abstract:

This study considered selection of the in silico molecular descriptors and the models for newly synthesized steroid derivatives description and their characterization using chemometric techniques. Multiple linear regression (MLR) models were established and gave the best molecular descriptors for quantitative structure-retention relationship (QSRR) modeling of the retention of the investigated molecules. MLR models were without multicollinearity among the selected molecular descriptors according to the variance inflation factor (VIF) values. Used molecular descriptors were ranked using generalized pair correlation method (GPCM). In this method, the significant difference between independent variables can be noticed regardless almost equal correlation between dependent variable. Generated MLR models were statistically and cross-validated and the best models were kept. Models were ranked using sum of ranking differences (SRD) method. According to this method, the most consistent QSRR model can be found and similarity or dissimilarity between the models could be noticed. In this study, SRD was performed using average values of experimentally observed data as a golden standard. Chemometric analysis was conducted in order to characterize newly synthesized steroid derivatives for further investigation regarding their potential biological activity and further synthesis. This article is based upon work from COST Action (CM1105), supported by COST (European Cooperation in Science and Technology).

Keywords: generalized pair correlation method, molecular descriptors, regression analysis, steroids, sum of ranking differences

Procedia PDF Downloads 319

Authors: Veronica Sri Lestari, Asmuddin Natsir, Hasmida Karim, Ian Patrick

Abstract:

The research aimed at investigating the factors affecting consumers’ willingness to pay for chicken meat from biosecure farms. The research was conducted in Makassar City, South Sulawesi Province, Indonesia. Samples were taken using random sampling technique in two supermarkets namely Lotte Mart and Gelael. Total samples were 50 respondents which comprised the chicken meat consumers. To find out the consumers’ willingness to pay for chicken meat from the biosecure farms, the contingent valuation method was utilized. Data were collected through interviews and questionnaires. Probit Logistic was estimated to examine the factors affecting the consumers’ willingness to pay for at the premium price for chicken meat from the biosecure farms. The research indicates that the education and income affect significantly the consumers’ willingness to pay for chicken meat from the biosecure farms (P < 0.05). The results of the study will be beneficial for the policy makers, producers, consumers and those conducting research.

Keywords: biosecure, chicken, farms, consumer, willingness-to-pay

Procedia PDF Downloads 252

Authors: Yang-Keun Ahn, Kwang-Soon Choi, Young-Choong Park, Kwang-Mo Jung

Abstract:

Vision based user interfaces to control TVs and PCs have the advantage of being able to perform natural control without being limited to a specific device. Accordingly, various studies on hand gesture recognition using RGB cameras or depth cameras have been conducted. However, such cameras have the disadvantage of lacking in accuracy or the construction cost being large. The proposed method uses a low cost IR camera to accurately differentiate between the hand and the background. Also, complicated learning and template matching methodologies are not used, and the correlation between the fingertips extracted through curvatures is utilized to recognize Click and Move gestures.

Keywords: recognition, hand gestures, infrared camera, RGB cameras

Procedia PDF Downloads 382