Search results for: engineering demand parameter
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 7940

Search results for: engineering demand parameter

5000 An Integer Nonlinear Program Proposal for Intermodal Transportation Service Network Design

Authors: Laaziz El Hassan

Abstract:

The Service Network Design Problem (SNDP) is a tactical issue in freight transportation firms. The existing formulations of the problem for intermodal rail-road transportation were not always adapted to the intermodality in terms of full asset utilization and modal shift reinforcement. The objective of the article is to propose a model having a more compliant formulation with intermodality, including constraints highlighting the imperatives of asset management, reinforcing modal shift from road to rail and reducing, by the way, road mode CO2 emissions. The model is a fixed charged, path based integer nonlinear program. Its objective is to minimize services total cost while ensuring full assets utilization to satisfy freight demand forecast. The model's main feature is that it gives as output both the train sizes and the services frequencies for a planning period. We solved the program using a commercial solver and discussed the numerical results.

Keywords: intermodal transport network, service network design, model, nonlinear integer program, path-based, service frequencies, modal shift

Procedia PDF Downloads 113
4999 Application of Dastamboo Fruit (Cucumis melo var. dudaim) Extract for Buffalo Meat Tenderization

Authors: A. Javadi, H. Asad Beygi

Abstract:

In line with the increasing demand for high-quality and safe food products, the present study is intended to examine the crude extract and juice of the fruit of Cucumis melo var. dudaim on tenderization of meat. Cubic pieces were selected from the biceps fermoris muscle of a five year-old female water buffalo; then, they were cut two or three hours after the buffalo was slaughtered. The selected samples were superficially exposed to the resolution obtained from the powder of the extract of Cucumis melo var. dudaim. Distilled water as a control sample and the powder of fruit extract of the mentioned plant with 0.5, 1 and 1.5 percent concentrations were experimented in the study. These samples were kept for three time spans of 2 hours, 7 and 14 days. Then, some tests were conducted on the samples both before and after cooking them. In general, with regard to the results obtained from the experiments and the investigations of the impact of time and different concentrations on the tenderization of buffalo meat, it can be argued that the time span of 2 hours and the concentration of 1.5 % can be considered as the best time and concentration for obtaining the most desirable tenderness. Also, tenderness increased in the samples kept for 7 and 14 days; however, due to the extraordinary decomposition, the samples were rather doughy and pasty.

Keywords: meat, Cucumis melo var. dudaim, tenderization, water buffalo

Procedia PDF Downloads 364
4998 Importance of Location Selection of an Energy Storage System in a Smart Grid

Authors: Vanaja Rao

Abstract:

In the recent times, the need for the integration of Renewable Energy Sources (RES) in a Smart Grid is on the rise. As a result of this, associated energy storage systems are known to play important roles in sustaining the efficient operation of such RES like wind power and solar power. This paper investigates the importance of location selection of Energy Storage Systems (ESSs) in a Smart Grid. Three scenarios of ESS location is studied and analyzed in a Smart Grid, which are – 1. Near the generation/source, 2. In the middle of the Grid and, 3. Near the demand/consumption. This is explained with the aim of assisting any Distribution Network Operator (DNO) in deploying the ESSs in a power network, which will significantly help reduce the costs and time of planning and avoid any damages incurred as a result of installing them at an incorrect location of a Smart Grid. To do this, the outlined scenarios mentioned above are modelled and analyzed with the National Grid’s datasets of energy generation and consumption in the UK power network. As a result, the outcome of this analysis aims to provide a better overview for the location selection of the ESSs in a Smart Grid. This ensures power system stability and security along with the optimum usage of the ESSs.

Keywords: distribution networks, energy storage system, energy security, location planning, power stability, smart grid

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4997 Analysis of Reflection Coefficients of Reflected and Transmitted Waves at the Interface Between Viscous Fluid and Hygro-Thermo-Orthotropic Medium

Authors: Anand Kumar Yadav

Abstract:

Purpose – The purpose of this paper is to investigate the fluctuation of amplitude ratios of various transmitted and reflected waves. Design/methodology/approach – The reflection and transmission of plane waves on the interface between an orthotropic hygro-thermo-elastic half-space (OHTHS) and a viscous-fluid half-space (VFHS) were investigated in this study with reference to coupled hygro-thermo-elasticity. Findings – The interface, where y = 0, is struck by the principal (P) plane waves as they travel through the VFHS. Two waves are reflected in VFHS, and four waves are transmitted in OHTHS as a result namely longitudinal displacement, Pwave − , thermal diffusion TDwave − and moisture diffusion mDwave − and shear vertical SV wave. Expressions for the reflection and transmitted coefficient are developed for the incidence of a hygrothermal plane wave. It is noted that these ratios are graphically displayed and are observed under the influence of coupled hygro-thermo-elasticity. Research limitations/implications – There isn't much study on the model under consideration, which combines OHTHS and VFHS with coupled hygro-thermo-elasticity, according to the existing literature Practical implications – The current model can be applied in many different areas, such as soil dynamics, nuclear reactors, high particle accelerators, earthquake engineering, and other areas where linked hygrothermo-elasticity is important. In a range of technical and geophysical settings, wave propagation in a viscous fluid-thermoelastic medium with various characteristics, such as initial stress, magnetic field, porosity, temperature, etc., gives essential information regarding the presence of new and modified waves. This model may prove useful in modifying earthquake estimates for experimental seismologists, new material designers, and researchers. Social implications – Researchers may use coupled hygro-thermo-elasticity to categories the material, where the parameter is a new indication of its ability to conduct heat in interaction with diverse materials. Originality/value – The submitted text is the sole creation of the team of writers, and all authors equally contributed to its creation.

Keywords: hygro-thermo-elasticity, viscous fluid, reflection coefficient, transmission coefficient, moisture concentration

Procedia PDF Downloads 63
4996 Internal Power Recovery in Cryogenic Cooling Plants Part I: Expander Development

Authors: Ambra Giovannelli, Erika Maria Archilei

Abstract:

The amount of the electrical power required by refrigeration systems is relevant worldwide. It is evaluated in the order of 15% of the total electricity production taking refrigeration and air-conditioning into consideration. For this reason, in the last years several energy saving techniques have been proposed to reduce the power demand of such plants. The paper deals with the development of an innovative internal recovery system for cryogenic cooling plants. Such a system consists in a Compressor-Expander Group (CEG) designed on the basis of the automotive turbocharging technology. In particular, the paper is focused on the design of the expander, the critical component of the CEG system. Due to the low volumetric flow entering the expander and the high expansion ratio, a commercial turbocharger expander wheel was strongly modified. It was equipped with a transonic nozzle, designed to have a radially inflow full admission. To verify the performance of such a machine and suggest improvements, two different set of nozzles have been designed and modelled by means of the commercial Ansys-CFX software. steady-state 3D CFD simulations of the second-generation prototype are presented and compared with the initial ones.

Keywords: vapour cCompression systems, energy saving, refrigeration plant, organic fluids, radial turbine

Procedia PDF Downloads 205
4995 Landslide Vulnerability Assessment in Context with Indian Himalayan

Authors: Neha Gupta

Abstract:

Landslide vulnerability is considered as the crucial parameter for the assessment of landslide risk. The term vulnerability defined as the damage or degree of elements at risk of different dimensions, i.e., physical, social, economic, and environmental dimensions. Himalaya region is very prone to multi-hazard such as floods, forest fires, earthquakes, and landslides. With the increases in fatalities rates, loss of infrastructure, and economy due to landslide in the Himalaya region, leads to the assessment of vulnerability. In this study, a methodology to measure the combination of vulnerability dimension, i.e., social vulnerability, physical vulnerability, and environmental vulnerability in one framework. A combined result of these vulnerabilities has rarely been carried out. But no such approach was applied in the Indian Scenario. The methodology was applied in an area of east Sikkim Himalaya, India. The physical vulnerability comprises of building footprint layer extracted from remote sensing data and Google Earth imaginary. The social vulnerability was assessed by using population density based on land use. The land use map was derived from a high-resolution satellite image, and for environment vulnerability assessment NDVI, forest, agriculture land, distance from the river were assessed from remote sensing and DEM. The classes of social vulnerability, physical vulnerability, and environment vulnerability were normalized at the scale of 0 (no loss) to 1 (loss) to get the homogenous dataset. Then the Multi-Criteria Analysis (MCA) was used to assign individual weights to each dimension and then integrate it into one frame. The final vulnerability was further classified into four classes from very low to very high.

Keywords: landslide, multi-criteria analysis, MCA, physical vulnerability, social vulnerability

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4994 Water Saving in Electricity Generation System Considering Natural Gas Limitation

Authors: Mehdi Ganjkhani, Sobhan Badakhshan, Seyedvahid Hosseini

Abstract:

Power plants exploit striking proportion of underground water consumption. Correspondingly, natural gas-fired power plants need less water than the other conventional power plants. Therefore, shifting unit commitment planning toward these power plants would help to save water consumption. This paper discusses the impacts of water consumption limitation on natural gas consumption and vice versa as a short-term water consumption management solution. To do so, conventional unit commitment problem is extended by adding water consumption and natural gas constraints to the previous constrains. The paper presents the impact of water saving on natural gas demands as well as natural gas shortage on water demand. Correspondingly, the additional cost of electricity production according to the aforementioned constraints is evaluated. Finally, a test system is applied to investigate potentials and impacts of water saving and natural gas shortage. Different scenarios are conducted and the results are presented. The results of the study illustrate that in order to use less water for power production it needs to use more natural gas. Meanwhile, natural gas shortage causes to utilize more amount of water in aggregate.

Keywords: electric energy generation system, underground water sources, unit commitment, water consumption saving, natural gas

Procedia PDF Downloads 187
4993 Role of Television in Constructing Gender for Young Women

Authors: Bhavna Negi

Abstract:

Several studies highlight the significance of media in constructing realities around us. According to Forbes magazine the demand of televisions has increased several times in the developing nations. A recent survey reveals that 112 million Indian households have a television, with 61 percent accessing cable. The space and visibility of television has enormously grown over the last decade in Indian homes. This small box has indeed taken a large place in their daily routines. The multi channel viewing and TRPs puzzle the Indian audience. This medium creates and constructs social images and roles which form internal representation about societal functioing. According to National Council of Applied Economic Research about twenty seven percent Indian literate youth watches TV for recreation. The present study finds about the role of television and its impact on young college going women with reference to family based serials shown on television. It is interesting to see how young women perceive the popular family soaps and define norms, roles and spaces for a woman and a man. The paper further examines the subtle messages given to young women through television serials. It draws insights into the relationship between the contemporary Indian women and the images conceptualized and communicated on television.

Keywords: media, women, gender, social roles

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4992 An Overview of Bioclimatic Design Strategies for Energy Efficient Buildings: A Case Study of Semi-Arid Climate, Lahore

Authors: Beenish Mujahid, Sana Malik

Abstract:

Bioclimatic design Strategies plays a dynamic role in construction of Sustainable Buildings. This approach leads to reduction in the mechanical cooling of building which provides comfort to the occupants in sustainable manner. Such bioclimatic measures provide a complete framework of building design through responding to climatic features of particular site. The featured Passive cooling techniques for hot climatic region provides comfortable indoor temperature with ecological and financial benefits. The study is based on highlighting this approach to produce energy efficient buildings for Semi-Arid climate like Lahore, Pakistan. Being part of developing country, energy savings in Lahore city would help the Power Sector and resolves the World Issues of Global Warming and Ozone Layer Depletion. This article reviews the bioclimatic design strategies and their critical analysis to drive guidelines for Sustainable buildings in Lahore. The study shows that the demand for mechanical cooling systems including air conditioning, fans, and air coolers can be reduced through regional climatic design.

Keywords: bioclimatic design, buildings, comfort, energy efficient, Lahore

Procedia PDF Downloads 259
4991 The Principles of Democracy and Development: The Political and Philosophical Foundations of Development-Democracy in Africa

Authors: Fadeke Olu-Owolabi, Fayomi Oluyemi

Abstract:

The political and societal orders face the awesome task of overcoming the difficulties which lead to growing tensions and conflicts in Africa. At the core of analysis is the question, how stable and adaptable are established democracies, new democracies, and political and societal actors? The idea of development-democracy as implying the strong linkage between economic development and political democracy appropriately describes the distinguishing characteristic of this new demand for democracy in Africa. The theoretical study examines the political and philosophical foundation of the idea of development-democracy and the arguments presented to support the need for its adoption in Africa today. This paper critically examines the polemic between the advocates of developmental dictatorship and developmental-democracy and argues for the adoption of the latter in Africa. The paper sets out to expose for the political and philosophical foundation of developmental democracy maintaining that only democracy can facilitate development. This argument is supported further by the claim that both democracy and development are two sides of the same coin in the sense that the two are both ethical concepts. The paper also maintained that the only way by which democracy is worthwhile is when it is developmental. Finally, the paper affirms that since the two concepts of democracy and development are like the Siamese twins then the way out of Africa’s present crisis of development is to wholeheartedly embrace democracy. It posits that when genuine democracy is adopted, genuine and sustainable development can then be attained.

Keywords: democracy, development, polemic, principles

Procedia PDF Downloads 517
4990 The Principles of Democracy and Development: The Political and Philosophical Foundations of Development-Development in Africa

Authors: Fadeke E. Olu-Owolabi, Fayomi Oluyemi

Abstract:

The political and societal orders face the awesome task of overcoming the difficulties which lead to growing tensions and conflicts in Africa. At the core of analysis is the question, how stable and adaptable are established democracies, new democracies, and political and societal actors? The idea of development-democracy as implying the strong linkage between economic development and political democracy appropriately describes the distinguishing characteristic of this new demand for democracy in Africa. The theoretical study examines the political and philosophical foundation of the idea of development-democracy and the arguments presented to support the need for its adoption in Africa today. This paper critically examines the polemic between the advocates of developmental dictatorship and developmental-democracy and argues for the adoption of the latter in Africa. The paper sets out to expose for the political and philosophical foundation of developmental democracy maintaining that only democracy can facilitate development. This argument is supported further by the claim that both democracy and development are two sides of the same coin in the sense that the two are both ethical concepts. The paper also maintained that the only way by which democracy is worthwhile is when it is developmental. Finally the paper affirms that since the two concepts of democracy and development are like the Siamese twins then the way out of Africa’s present crisis of development is to wholeheartedly embrace democracy. It posits that when genuine democracy is adopted, genuine and sustainable development can then be attained.

Keywords: democracy, development, polemic, principles

Procedia PDF Downloads 428
4989 Investigation on the Energy Impact of Spatial Geometry in a Residential Building Using Building Information Modeling Technology

Authors: Shashank. S. Bagane, H. N. Rajendra Prasad

Abstract:

Building Information Modeling (BIM) has currently developed into a potent solution. The consistent development of BIM technology in the sphere of Architecture, Engineering, and Construction (AEC) industry has enhanced the effectiveness of construction and decision making. However, aggrandized global warming and energy crisis has impacted on building energy analysis. It is now becoming an important factor to be considered in the AEC industry. Amalgamating energy analysis in the planning and design phase of a structure has become a necessity. In the current construction industry, estimating energy usage and reducing its footprint is of high priority. The construction industry is giving more prominence to sustainability alongside energy efficiency. This demand is compelling the designers, planners, and engineers to inspect the sustainable performance throughout the building's life cycle. The current study primarily focuses on energy consumption, space arrangement, and spatial geometry of a residential building. Most commonly residential structures in India are constructed considering Vastu Shastra. Vastu designs are intended to integrate architecture with nature and utilizing geometric patterns, symmetry, and directional alignments. In the current study, a residential brick masonry structure is considered for BIM analysis, Architectural model of the structure will be created using Revit software, later the orientation and spatial arrangement will be finalized based on Vastu principles. Furthermore, the structure will be investigated for the impact of building orientation and spatial arrangements on energy using Green Building Studio software. Based on the BIM analysis of the structure, energy consumption of subsequent building orientations will be understood. A well-orientated building having good spatial arrangement can save a considerable amount of energy throughout its life cycle and reduces the need for heating and lighting which will prove to diminish energy usage and improve the energy efficiency of the residential building.

Keywords: building information modeling, energy impact, spatial geometry, vastu

Procedia PDF Downloads 155
4988 A Computational Analysis of Flow and Acoustics around a Car Wing Mirror

Authors: Aidan J. Bowes, Reaz Hasan

Abstract:

The automotive industry is continually aiming to develop the aerodynamics of car body design. This may be for a variety of beneficial reasons such as to increase speed or fuel efficiency by reducing drag. However recently there has been a greater amount of focus on wind noise produced while driving. Designers in this industry seek a combination of both simplicity of approach and overall effectiveness. This combined with the growing availability of commercial CFD (Computational Fluid Dynamics) packages is likely to lead to an increase in the use of RANS (Reynolds Averaged Navier-Stokes) based CFD methods. This is due to these methods often being simpler than other CFD methods, having a lower demand on time and computing power. In this investigation the effectiveness of turbulent flow and acoustic noise prediction using RANS based methods has been assessed for different wing mirror geometries. Three different RANS based models were used, standard k-ε, realizable k-ε and k-ω SST. The merits and limitations of these methods are then discussed, by comparing with both experimental and numerical results found in literature. In general, flow prediction is fairly comparable to more complex LES (Large Eddy Simulation) based methods; in particular for the k-ω SST model. However acoustic noise prediction still leaves opportunities for more improvement using RANS based methods.

Keywords: acoustics, aerodynamics, RANS models, turbulent flow

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4987 A Review: Global Crisis Effects on Agriculture and Animal Production in Turkey

Authors: Muhittin Fatih Demirhan, Sibel Alapala Demirhan

Abstract:

Agriculture, is also regarded as the primary activity area in all economies. When international comparisons are made Turkey has comparative advantages in agricultural potential. However, it is diffi cult to say that Turkey's agricultural productivity and use of technology is well developed in terms of sufficieny. Turkey, in terms of agricultural production, is one of the rare self-sufficient countries, but for supplying excessive demand of its domesticproduction to foreign markets to obtain the necessary income it is rather insufficient. On the basis of wrong policies implemented during the crisis and found that bottlenecks in agriculture and animal husbandry or agriculture policies of the IMF and World Bank are imposed on countries like Turkey. The IMF and the World Bank, the reduction of support in the agricultural and livestock Turkey, is known to put pressure for the abolition. Under these circumstances, our farmers, livestock producers and breeders of, not a chance to compete in the same market with EU producers. Animal products that capture the productivity levels of developed countries, seems to be our chance to compete with the quality and hygiene criteria. Thus, the discussion of the issue must be raised as for the sector's contribution to the economy in terms of further increasing production of the existing potential in mobilization.

Keywords: agricultural development, animal production, competition, economic crisis, food supply

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4986 Synthesis of Iron Oxide Nanoparticles Using Different Stabilizers and Study of Their Size and Properties

Authors: Mohammad Hassan Ramezan zadeh 1 , Majid Seifi 2 , Hoda Hekmat ara 2 1Biomedical Engineering Department, Near East University, Nicosia, Cyprus 2Physics Department, Guilan University , P.O. Box 41335-1914, Rasht, Iran.

Abstract:

Magnetic nano particles of ferric chloride were synthesised using a co-precipitation technique. For the optimal results, ferric chloride at room temperature was added to different surfactant with different ratio of metal ions/surfactant. The samples were characterised using transmission electron microscopy, X-ray diffraction and Fourier transform infrared spectrum to show the presence of nanoparticles, structure and morphology. Magnetic measurements were also carried out on samples using a Vibrating Sample Magnetometer. To show the effect of surfactant on size distribution and crystalline structure of produced nanoparticles, surfactants with various charge such as anionic cetyl trimethyl ammonium bromide (CTAB), cationic sodium dodecyl sulphate (SDS) and neutral TritonX-100 was employed. By changing the surfactant and ratio of metal ions/surfactant the size and crystalline structure of these nanoparticles were controlled. We also show that using anionic stabilizer leads to smallest size and narrowest size distribution and the most crystalline (polycrystalline) structure. In developing our production technique, many parameters were varied. Efforts at reproducing good yields indicated which of the experimental parameters were the most critical and how carefully they had to be controlled. The conditions reported here were the best that we encountered but the range of possible parameter choice is so large that these probably only represent a local optimum. The samples for our chemical process were prepared by adding 0.675 gr ferric chloride (FeCl3, 6H2O) to three different surfactant in water solution. The solution was sonicated for about 30 min until a transparent solution was achieved. Then 0.5 gr sodium hydroxide (NaOH) as a reduction agent was poured to the reaction drop by drop which resulted to participate reddish brown Fe2O3 nanoparticles. After washing with ethanol the obtained powder was calcinated in 600°C for 2h. Here, the sample 1 contained CTAB as a surfactant with ratio of metal ions/surfactant 1/2, sample 2 with CTAB and ratio 1/1, sample 3 with SDS and ratio 1/2, sample 4 SDS 1/1, sample 5 is triton-X-100 with 1/2 and sample 6 triton-X-100 with 1/1.

Keywords: iron oxide nanoparticles, stabilizer, co-precipitation, surfactant

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4985 Performances Analysis and Optimization of an Adsorption Solar Cooling System

Authors: Nadia Allouache

Abstract:

The use of solar energy in cooling systems is an interesting alternative to the increasing demand of energy in the world and more specifically in southern countries where the needs of refrigeration and air conditioning are tremendous. This technique is even more attractive with regards to environmental issues. This study focuses on performances analysis and optimization of solar reactor of an adsorption cooling machine working with activated carbon-methanol pair. The modeling of the adsorption cooling machine requires the resolution of the equation describing the energy and mass transfer in the tubular adsorber that is the most important component of the machine. The results show the poor heat conduction inside the porous medium and the resistance between the metallic wall and the bed engender the important temperature gradient and a great difference between the metallic wall and the bed temperature; this is considered as the essential causes decreasing the performances of the machine. For fixed conditions of functioning, the total desorbed mass presents a maximum for an optimal value of the height of the adsorber; this implies the existence of an optimal dimensioning of the adsorber.

Keywords: solar cooling system, performances Analysis, optimization, heat and mass transfer, activated carbon-methanol pair, numerical modeling

Procedia PDF Downloads 436
4984 Parallel Self Organizing Neural Network Based Estimation of Archie’s Parameters and Water Saturation in Sandstone Reservoir

Authors: G. M. Hamada, A. A. Al-Gathe, A. M. Al-Khudafi

Abstract:

Determination of water saturation in sandstone is a vital question to determine the initial oil or gas in place in reservoir rocks. Water saturation determination using electrical measurements is mainly on Archie’s formula. Consequently accuracy of Archie’s formula parameters affects water saturation values rigorously. Determination of Archie’s parameters a, m, and n is proceeded by three conventional techniques, Core Archie-Parameter Estimation (CAPE) and 3-D. This work introduces the hybrid system of parallel self-organizing neural network (PSONN) targeting accepted values of Archie’s parameters and, consequently, reliable water saturation values. This work focuses on Archie’s parameters determination techniques; conventional technique, CAPE technique, and 3-D technique, and then the calculation of water saturation using current. Using the same data, a hybrid parallel self-organizing neural network (PSONN) algorithm is used to estimate Archie’s parameters and predict water saturation. Results have shown that estimated Arche’s parameters m, a, and n are highly accepted with statistical analysis, indicating that the PSONN model has a lower statistical error and higher correlation coefficient. This study was conducted using a high number of measurement points for 144 core plugs from a sandstone reservoir. PSONN algorithm can provide reliable water saturation values, and it can supplement or even replace the conventional techniques to determine Archie’s parameters and thereby calculate water saturation profiles.

Keywords: water saturation, Archie’s parameters, artificial intelligence, PSONN, sandstone reservoir

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4983 Functional Food Industry in Thailand: Perspectives from Government, Education, and Private Sector

Authors: Charintorn Suwannawong, Tananpon Yavilas, Sopida Boonaneksap, Chotika Viriyarattanasak, Chairath Tangduangdee

Abstract:

With increasing aging population and health conscious consumers, the demand for health promoting products such as functional foods, dietary supplements, and nutraceutical products has continuously increased in Thailand. Nevertheless, the strategic framework for regulatory functional food developments in Thailand is still unclear. The objective of this study was to survey stakeholders’ perspectives on three scopes, consisting of 1) the current status 2) obstacles, and 3) future trend for the development and production of functional foods in Thailand. A survey was conducted by interviewing ten experts from governmental organization, industrial sector and academic institute. The obtained results show that there is no established definition for functional foods in Thailand. There is a variety of raw materials that are capable to be potential ingredients for functional food production in Thailand and exported to global market. However, the scaling up technology into a commercial production is limited. Moreover, there is a need to establish the infrastructures, such as testing laboratory, and regulatory standards for quality control and ensuring product safety. This information is useful for government in the development of the strategic framework and policy statement on improvement of functional food industry in Thailand.

Keywords: functional foods, interview, perspective, Thailand

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4982 A Probabilistic Theory of the Buy-Low and Sell-High for Algorithmic Trading

Authors: Peter Shi

Abstract:

Algorithmic trading is a rapidly expanding domain within quantitative finance, constituting a substantial portion of trading volumes in the US financial market. The demand for rigorous and robust mathematical theories underpinning these trading algorithms is ever-growing. In this study, the author establishes a new stock market model that integrates the Efficient Market Hypothesis and the statistical arbitrage. The model, for the first time, finds probabilistic relations between the rational price and the market price in terms of the conditional expectation. The theory consequently leads to a mathematical justification of the old market adage: buy-low and sell-high. The thresholds for “low” and “high” are precisely derived using a max-min operation on Bayes’s error. This explicit connection harmonizes the Efficient Market Hypothesis and Statistical Arbitrage, demonstrating their compatibility in explaining market dynamics. The amalgamation represents a pioneering contribution to quantitative finance. The study culminates in comprehensive numerical tests using historical market data, affirming that the “buy-low” and “sell-high” algorithm derived from this theory significantly outperforms the general market over the long term in four out of six distinct market environments.

Keywords: efficient market hypothesis, behavioral finance, Bayes' decision, algorithmic trading, risk control, stock market

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4981 Examining Renewable Energy Policy Implementation for Sustainable Development in Kenya

Authors: Eliud Kiprop, Kenichi Matsui, Joseph Karanja, Hesborn Ondiba

Abstract:

To double the share of renewable energy in the global energy mix by 2030 as part of actions for the Paris Agreement, policymakers in each ratifying country must accelerate their efforts within the next few years by implementing their own renewable energy strategies. Kenya has increased its funding for research and development in renewable energy sources largely because it intends to reduce greenhouse gas GHG emissions by 30% from business as usual (BAU) levels (143 MtCO₂eq) by 2030. In 2013, the Kenyan government launched an ambitious plan to increase the installed power generation capacity from 1,768MW to more than 5,000MW by the end of 2017. This paper examines the formulation and implementation process of this plan and shows how this plan will affect Kenya’s renewable energy industry and national policy implementation in general. Results demonstrate that, despite having a well- documented policy in place, the Kenyan government cannot meet its target of 5000MW by the end of 2017. Among other factors, we find that the main reason is attributable to the failure in adhering to the main principles of the policy plan. We also find that the government has failed to consider the future energy demand. Had the policy been implemented on time, we argue that there would have been excess power.

Keywords: policy implementation, policy plan, renewable energy, sustainable development

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4980 Design of a Low Cost Programmable LED Lighting System

Authors: S. Abeysekera, M. Bazghaleh, M. P. L. Ooi, Y. C. Kuang, V. Kalavally

Abstract:

Smart LED-based lighting systems have significant advantages over traditional lighting systems due to their capability of producing tunable light spectrums on demand. The main challenge in the design of smart lighting systems is to produce sufficient luminous flux and uniformly accurate output spectrum for sufficiently broad area. This paper outlines the programmable LED lighting system design principles of design to achieve the two aims. In this paper, a seven-channel design using low-cost discrete LEDs is presented. Optimization algorithms are used to calculate the number of required LEDs, LEDs arrangements and optimum LED separation distance. The results show the illumination uniformity for each channel. The results also show that the maximum color error is below 0.0808 on the CIE1976 chromaticity scale. In conclusion, this paper considered the simulation and design of a seven-channel programmable lighting system using low-cost discrete LEDs to produce sufficient luminous flux and uniformly accurate output spectrum for sufficiently broad area.

Keywords: light spectrum control, LEDs, smart lighting, programmable LED lighting system

Procedia PDF Downloads 183
4979 Competition, Stability, and Economic Growth: A Causality Approach

Authors: Mahvish Anwaar

Abstract:

Research Question: In this paper, we explore the causal relationship between banking competition, banking stability, and economic growth. Research Findings: The unbalanced panel data starting from 2000 to 2018 is collected to analyze the causality among banking competition, banking stability, and economic growth. The main focus of the study is to check the direction of causality among selected variables. The results of the study support the demand following, supply leading, feedback, and neutrality hypothesis conditional to different measures of banking competition, banking stability, and economic growth. Theoretical Implication: Jayakumar, Pradhan, Dash, Maradana, and Gaurav (2018) proposed a theoretical model of the causal relationship between banking competition, banking stability, and economic growth by using different indicators. So, we empirically test the proposed indicators in our study. This study makes a contribution to the literature by showing the defined relationship between developing and developed countries. Policy Implications: The study covers various policy implications regarding investors to analyze how to properly manage their finances, and government agencies will take help from the present study to find the best and most suitable policies by examining how the economy can grow concerning its finances.

Keywords: competition, stability, economic growth, vector auto-regression, granger causality

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4978 A Theoretical Analysis of Air Cooling System Using Thermal Ejector under Variable Generator Pressure

Authors: Mohamed Ouzzane, Mahmoud Bady

Abstract:

Due to energy and environment context, research is looking for the use of clean and energy efficient system in cooling industry. In this regard, the ejector represents one of the promising solutions. The thermal ejector is a passive component used for thermal compression in refrigeration and cooling systems, usually activated by heat either waste or solar. The present study introduces a theoretical analysis of the cooling system which uses a gas ejector thermal compression. A theoretical model is developed and applied for the design and simulation of the ejector, as well as the whole cooling system. Besides the conservation equations of mass, energy and momentum, the gas dynamic equations, state equations, isentropic relations as well as some appropriate assumptions are applied to simulate the flow and mixing in the ejector. This model coupled with the equations of the other components (condenser, evaporator, pump, and generator) is used to analyze profiles of pressure and velocity (Mach number), as well as evaluation of the cycle cooling capacity. A FORTRAN program is developed to carry out the investigation. Properties of refrigerant R134a are calculated using real gas equations. Among many parameters, it is thought that the generator pressure is the cornerstone in the cycle, and hence considered as the key parameter in this investigation. Results show that the generator pressure has a great effect on the ejector and on the whole cooling system. At high generator pressures, strong shock waves inside the ejector are created, which lead to significant condenser pressure at the ejector exit. Additionally, at higher generator pressures, the designed system can deliver cooling capacity for high condensing pressure (hot season).

Keywords: air cooling system, refrigeration, thermal ejector, thermal compression

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4977 Use of Biomass as Co-Fuel in Briquetting of Low-Rank Coal: Strengthen the Energy Supply and Save the Environment

Authors: Mahidin, Yanna Syamsuddin, Samsul Rizal

Abstract:

In order to fulfill world energy demand, several efforts have been done to look for new and renewable energy candidates to substitute oil and gas. Biomass is one of new and renewable energy sources, which is abundant in Indonesia. Palm kernel shell is a kind of biomass discharge from palm oil industries as a waste. On the other hand, Jatropha curcas that is easy to grow in Indonesia is also a typical energy source either for bio-diesel or biomass. In this study, biomass was used as co-fuel in briquetting of low-rank coal to suppress the release of emission (such as CO, NOx and SOx) during coal combustion. Desulfurizer, CaO-base, was also added to ensure the SOx capture is effectively occurred. Ratio of coal to palm kernel shell (w/w) in the bio-briquette were 50:50, 60:40, 70:30, 80:20 and 90:10, while ratio of calcium to sulfur (Ca/S) in mole/mole were 1:1; 1.25:1; 1.5:1; 1.75:1 and 2:1. The bio-briquette then subjected to physical characterization and combustion test. The results show that the maximum weight loss in the durability measurement was ±6%. In addition, the highest stove efficiency for each desulfurizer was observed at the coal/PKS ratio of 90:10 and Ca/S ratio of 1:1 (except for the scallop shell desulfurizer that appeared at two Ca/S ratios; 1.25:1 and 1.5:1, respectively), i.e. 13.8% for the lime; 15.86% for the oyster shell; 14.54% for the scallop shell and 15.84% for the green mussel shell desulfurizers.

Keywords: biomass, low-rank coal, bio-briquette, new and renewable energy, palm kernel shell

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4976 Non-Linear Regression Modeling for Composite Distributions

Authors: Mostafa Aminzadeh, Min Deng

Abstract:

Modeling loss data is an important part of actuarial science. Actuaries use models to predict future losses and manage financial risk, which can be beneficial for marketing purposes. In the insurance industry, small claims happen frequently while large claims are rare. Traditional distributions such as Normal, Exponential, and inverse-Gaussian are not suitable for describing insurance data, which often show skewness and fat tails. Several authors have studied classical and Bayesian inference for parameters of composite distributions, such as Exponential-Pareto, Weibull-Pareto, and Inverse Gamma-Pareto. These models separate small to moderate losses from large losses using a threshold parameter. This research introduces a computational approach using a nonlinear regression model for loss data that relies on multiple predictors. Simulation studies were conducted to assess the accuracy of the proposed estimation method. The simulations confirmed that the proposed method provides precise estimates for regression parameters. It's important to note that this approach can be applied to datasets if goodness-of-fit tests confirm that the composite distribution under study fits the data well. To demonstrate the computations, a real data set from the insurance industry is analyzed. A Mathematica code uses the Fisher information algorithm as an iteration method to obtain the maximum likelihood estimation (MLE) of regression parameters.

Keywords: maximum likelihood estimation, fisher scoring method, non-linear regression models, composite distributions

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4975 An Investigation of System and Operating Parameters on the Performance of Parabolic Trough Solar Collector for Power Generation

Authors: Umesh Kumar Sinha, Y. K. Nayak, N. Kumar, Swapnil Saurav, Monika Kashyap

Abstract:

The authors investigate the effect of system and operating parameters on the performance of high temperature solar concentrator for power generation. The effects of system and operating parameters were investigated using the developed mathematical expressions for collector efficiency, heat removal factor, fluid outlet temperature and power, etc. The results were simulated using C++program. The simulated results were plotted for investigation like effect of thermal loss parameter and radiative loss parameters on the collector efficiency, heat removal factor, fluid outlet temperature, rise of temperature and effect of mass flow rate of the fluid outlet temperature. In connection with the power generation, plots were drawn for the effect of (TM–TAMB) on the variation of concentration efficiency, concentrator irradiance on PM/PMN, evaporation temperature on thermal to electric power efficiency (Conversion efficiency) of the plant and overall efficiency of solar power plant.

Keywords: parabolic trough solar collector, radiative and thermal loss parameters, collector efficiency, heat removal factor, fluid outlet and inlet temperatures, rise of temperature, mass flow rate, conversion efficiency, concentrator irradiance

Procedia PDF Downloads 314
4974 BIM-based Construction Noise Management Approach With a Focus on Inner-City Construction

Authors: Nasim Babazadeh

Abstract:

Growing demand for a quieter dwelling environment has turned the attention of construction companies to reducing the propagated noise of their project. In inner-city constructions, close distance between the construction site and surrounding buildings lessens the efficiency of passive noise control methods. Dwellers of the nearby areas may file complaints and lawsuits against the construction companies due to the emitted construction noise, thereby leading to the interruption of processes, compensation costs, or even suspension of the project. Therefore, construction noise should be predicted along with the project schedule. The advantage of managing the noise in the pre-construction phase is two-fold. Firstly, changes in the time plan and construction methods can be applied more flexibly. Thus, the costs related to rescheduling can be avoided. Secondly, noise-related legal problems are expected to be reduced. To implement noise mapping methods for the mentioned prediction, the required detailed information (such as the location of the noisy process, duration of the noisy work) can be exported from the 4D BIM model. The results obtained from the noise maps would be used to help the planners to define different work scenarios. The proposed approach has been applied for the foundation and earthwork of a site located in a residential area, and the obtained results are discussed.

Keywords: building information modeling, construction noise management, noise mapping, 4D BIM

Procedia PDF Downloads 179
4973 Gendered Effects on Productivity Gap Due to Information Asymmetry

Authors: Shruti Sengupta

Abstract:

According to the nationally representative data, about 73% of India's rural workforce is engaged in agriculture. While women make significant contributions to total agriculture production, they contribute to about one-third in India. In terms of gender composition, about 80% of the female and 69% of the male workforce is engaged in agriculture in rural India. Still, it is common to find gender differences in plot management within the household. In the last two and half years, India's agri-food system has undergone several changes due to this pandemic, both the demand and supply side, making agriculture more information and knowledge-intensive. Therefore, this paper investigates, using a nationally representative sample, how information asymmetry affects the net returns per hectare of land between female and male farm managers. Empirical results show that information intensity has a significant positive effect on net farm returns per hectare. Results suggest that if females have the same access to technical information as their male counterparts, their farm income can go up by .96 pp compared to male-headed farms. Results also indicate that literate females have higher farm incomes than non-literate females. The study contributes to the literature by employing gender differentials in farm income due to the information gap.

Keywords: agriculture, gender, information asymmetry, farm income, social bias

Procedia PDF Downloads 136
4972 Identification of Outliers in Flood Frequency Analysis: Comparison of Original and Multiple Grubbs-Beck Test

Authors: Ayesha S. Rahman, Khaled Haddad, Ataur Rahman

Abstract:

At-site flood frequency analysis is used to estimate flood quantiles when at-site record length is reasonably long. In Australia, FLIKE software has been introduced for at-site flood frequency analysis. The advantage of FLIKE is that, for a given application, the user can compare a number of most commonly adopted probability distributions and parameter estimation methods relatively quickly using a windows interface. The new version of FLIKE has been incorporated with the multiple Grubbs and Beck test which can identify multiple numbers of potentially influential low flows. This paper presents a case study considering six catchments in eastern Australia which compares two outlier identification tests (original Grubbs and Beck test and multiple Grubbs and Beck test) and two commonly applied probability distributions (Generalized Extreme Value (GEV) and Log Pearson type 3 (LP3)) using FLIKE software. It has been found that the multiple Grubbs and Beck test when used with LP3 distribution provides more accurate flood quantile estimates than when LP3 distribution is used with the original Grubbs and Beck test. Between these two methods, the differences in flood quantile estimates have been found to be up to 61% for the six study catchments. It has also been found that GEV distribution (with L moments) and LP3 distribution with the multiple Grubbs and Beck test provide quite similar results in most of the cases; however, a difference up to 38% has been noted for flood quantiles for annual exceedance probability (AEP) of 1 in 100 for one catchment. These findings need to be confirmed with a greater number of stations across other Australian states.

Keywords: floods, FLIKE, probability distributions, flood frequency, outlier

Procedia PDF Downloads 446
4971 Wind Diesel Hybrid System without Battery Energy Storage Using Imperialist Competitive Algorithm

Authors: H. Rezvani, H. Monsef, A. Hekmati

Abstract:

Nowadays, the use of renewable energy sources has been increasingly great because of the cost increase and public demand for clean energy sources. One of the fastest growing sources is wind energy. In this paper, Wind Diesel Hybrid System (WDHS) comprising a Diesel Generator (DG), a Wind Turbine Generator (WTG), the Consumer Load, a Battery-based Energy Storage System (BESS), and a Dump Load (DL) is used. Voltage is controlled by Diesel Generator; the frequency is controlled by BESS and DL. The BESS elimination is an efficient way to reduce maintenance cost and increase the dynamic response. Simulation results with graphs for the frequency of Power System, active power, and the battery power are presented for load changes. The controlling parameters are optimized by using Imperialist Competitive Algorithm (ICA). The simulation results for the BESS/no BESS cases are compared. Results show that in no BESS case, the frequency control is more optimal than the BESS case by using ICA.

Keywords: renewable energy, wind diesel system, induction generator, energy storage, imperialist competitive algorithm

Procedia PDF Downloads 554