Search results for: constant elasticity of variance

Authors: Jai Heui Kim, Sotheara Veng

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This paper studies the portfolio optimization problem for a pension fund under a hybrid model of stochastic volatility and constant elasticity of variance (CEV) using asymptotic analysis method. When the volatility component is fast mean-reverting, it is able to derive asymptotic approximations for the value function and the optimal strategy for general utility functions. Explicit solutions are given for the exponential and hyperbolic absolute risk aversion (HARA) utility functions. The study also shows that using the leading order optimal strategy results in the value function, not only up to the leading order, but also up to first order correction term. A practical strategy that does not depend on the unobservable volatility level is suggested. The result is an extension of the Merton's solution when stochastic volatility and elasticity of variance are considered simultaneously.

Keywords: asymptotic analysis, constant elasticity of variance, portfolio optimization, stochastic optimal control, stochastic volatility

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Authors: Klara Krizova, Rudolf Hela

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The topic of the article focuses on the evaluation of selected technological factors and their influence on resulting elasticity modulus of concrete. A series of various factors enter into the manufacturing process which, more or less, influences the elasticity modulus. This paper presents the results of concrete in which the influence of water coefficient and the size of maximum fraction of the aggregate on the static elasticity modulus were monitored. Part of selected results of the long-term programme was discussed in which a wide scope of various variants of proposals for the composition of concretes was evaluated.

Keywords: mix design, water-cement ratio, aggregate, modulus of elasticity

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Authors: Charles Horace Ampong

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Non-linear models have been found to be useful in modeling the elasticity (measure of degree of responsiveness) of a dependent variable with respect to a set of independent variables ceteris paribus. This constant elasticity principle was applied to the dependent variable (Compressive Strength of Concrete in MPa) which was found to be non-linearly related to the independent variable (Water-Cement ratio in kg/m3) for given Ages of Concrete in days (3, 7, 28) at different levels of admixtures Superplasticizer (in kg/m3), Blast Furnace Slag (in kg/m3) and Fly Ash (in kg/m3). The levels of the admixtures were categorized as: S1=Some Plasticizer added & S0=No Plasticizer added; B1=some Blast Furnace Slag added & B0=No Blast Furnace Slag added; F1=Some Fly Ash added & F0=No Fly Ash added. The number of observations (samples) used for the research was one-hundred and thirty-two (132) in all. For Superplasticizer, it was found that Compressive Strength of Concrete was more elastic with regards to Water-Cement ratio at S1 level than at S0 level for the given ages of concrete 3, 7and 28 days. For Blast Furnace Slag, Compressive Strength with regards to Water-Cement ratio was more elastic at B0 level than at B1 level for concrete ages 3, 7 and 28 days. For Fly Ash, Compressive Strength with regards to Water-Cement ratio was more elastic at B0 level than at B1 level for Ages 3, 7 and 28 days. The research also tested for different combinations of the levels of Superplasticizer, Blast Furnace Slag and Fly Ash. It was found that Compressive Strength elasticity with regards to Water-Cement ratio was lowest (Elasticity=-1.746) with a combination of S0, B0 and F0 for concrete age of 3 days. This was followed by Elasticity of -1.611 with a combination of S0, B0 and F0 for a concrete of age 7 days. Next, the highest was an Elasticity of -1.414 with combination of S0, B0 and F0 for a concrete age of 28 days. Based on preceding outcomes, three (3) non-linear model equations for predicting the output elasticity of Compressive Strength of Concrete (in %) or the value of Compressive Strength of Concrete (in MPa) with regards to Water to Cement was formulated. The model equations were based on the three different ages of concrete namely 3, 7 and 28 days under investigation. The three models showed that higher elasticity translates into higher compressive strength. And the models revealed a trend of increasing concrete strength from 3 to 28 days for a given amount of water to cement ratio. Using the models, an increasing modulus of elasticity from 3 to 28 days was deduced.

Keywords: concrete, compressive strength, elasticity, water-cement

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Authors: Yu-Shan Hsu

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This paper studies a two-sector growth model with a technology of social constant returns and with a utility that features either a zero or a positive income effect on the demand for leisure. The purpose is to investigate how the existence of aggregate instability or equilibrium indeterminacy depends on both the intensity of the income effect on the demand for leisure and the value of the labor supply elasticity. The main finding is that when there is a factor intensity reversal between the private perspective and the social perspective, indeterminacy arises even if the utility has a positive income effect on leisure demand. Moreover, we find that a smaller value of the labor supply elasticity increases the range of the income effect on leisure demand and thus increases the possibility of equilibrium indeterminacy. JEL classification: E3; O41

Keywords: indeterminacy, non-separable preferences, income effect, labor supply elasticity

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Authors: K. Krizova

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This objective of this article is to present concrete that differs by the size of the aggregate used. The set of concrete contained six concrete recipes manufactured as traditional vibrated concrete containing identical basic components of concrete. The experiment focused on monitoring the resulting properties of hardened concrete, specifically the primary strength and modulus of the concrete elasticity and the developing parameters from 7 to 180 days were assessed.

Keywords: aggregate, cement, concrete, elasticity modulus

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Authors: I. Made Gatot Karohika, Shigeyuki Haruyama, Ken Kaminishi, Oke Oktavianty, Didik Nurhadiyanto

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Contact width and contact stress are important parameters related to the leakage behavior of corrugated metal gasket. In this study, contact width and contact stress of three-layer corrugated metal gasket are investigated due to the modulus of elasticity and thickness of surface layer for 2 type gasket (0-MPa and 400-MPa mode). A finite element method was employed to develop simulation solution to analysis the effect of each parameter. The result indicated that lowering the modulus of elasticity ratio of surface layer will result in better contact width but the average contact stresses are smaller. When the modulus of elasticity ratio is held constant with thickness ratio increase, its contact width has an increscent trend otherwise the average contact stress has decreased trend.

Keywords: contact width, contact stress, layer, metal gasket, corrugated, simulation

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Authors: Daniil Karzanov

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This paper studies the effect of quarterly earnings reports on the stock price. The profitability of the stock is modeled by geometric Brownian diffusion and the Constant Elasticity of Variance model. We fit several variations of stochastic differential equations to the pre-and after-report period using the Maximum Likelihood Estimation and Grid Search of parameters method. By examining the change in the model parameters after reports’ publication, the study reveals that the reports have enough evidence to be a structural breakpoint, meaning that all the forecast models exploited are not applicable for forecasting and should be refitted shortly.

Keywords: stock market, earnings reports, financial time series, structural breaks, stochastic differential equations

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Authors: Walid Louhichi, Mouhebeddine Berrima, Narjes Ben Rajed

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Elasticity is the essential property of cloud computing. As the name suggests, it constitutes the ability of a cloud system to adjust resource provisioning in relation to fluctuating workload. There are two types of elasticity operations, vertical and horizontal. In this work, we are interested in horizontal scaling, which is ensured by two mechanisms; scaling in and scaling out. Following the sizing of the system, we can adopt scaling in in the event of over-supply and scaling out in the event of under-supply. In this paper, we propose a formal model, based on colored and temporized Petri nets, for the modeling of the duplication and the removal of a virtual machine from a server. This model is based on formal Petri Nets modeling language. The proposed models are edited, verified, and simulated with two examples implemented in CPNtools, which is a modeling tool for colored and timed Petri nets.

Keywords: cloud computing, elasticity, elasticity controller, petri nets, scaling in, scaling out

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Authors: Jiri Brozovsky

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Modulus of elasticity is one of the important parameters of construction materials, which considerably influence their deformation properties and which can also be determined by means of non-destructive test methods like ultrasonic pulse method. However, measurement results of ultrasonic pulse methods are influenced by various factors, one of which is the natural frequency of the transducers. The paper states knowledge about influence of natural frequency of the transducers (54; 82 and 150kHz) on ultrasonic pulse velocity and dynamic modulus of elasticity (Young's Dynamic modulus of elasticity). Differences between ultrasonic pulse velocity and dynamic modulus of elasticity were found with the same smallest dimension of test specimen in the direction of sounding and density their value decreases as the natural frequency of transducers grew.

Keywords: calcium silicate brick, ultrasonic pulse method, ultrasonic pulse velocity, dynamic modulus of elasticity

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Authors: Gaurav Datta, Sourav Ghosh, Rahul Roy

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The incorporation of silica fume into the normal concrete is a routine one in the present days to produce the tailor made high strength and high performance concrete. The design parameters are increasing with the incorporation of silica fume in conventional concrete and the mix proportioning is becoming complex. The main objective of this paper has been made to investigate the different mechanical properties like compressive strength, permeability, porosity, density, modulus of elasticity, compacting factor, slump of concrete incorporating silica fume. In this present paper 5 (five) mix of concrete incorporating silica fume is cast to perform experiments. These experiments were carried out by replacing cement with different percentages of silica fume at a single constant water-cementitious materials ratio keeping other mix design variables constant. The silica fume was replaced by 0%, 5%, 10%, 15% and 20% for water-cementitious materials (w/cm) ratio for 0.40. For all mixes compressive strengths were determined at 24 hours, 7 and 28 days for 100 mm and 150 mm cubes. Other properties like permeability, porosity, density, modulus of elasticity, compacting factor, and slump were also determined for five mixes of concrete.

Keywords: high performance concrete, high strength concrete, silica fume, strength

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Authors: Tea Poklepović, Zdravka Aljinović, Mario Matković

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Modern Portfolio Theory (MPT) according to Markowitz states that investors form mean-variance efficient portfolios which maximizes their utility. Markowitz proposed the standard deviation as a simple measure for portfolio risk and the lower semi-variance as the only risk measure of interest to rational investors. This paper uses a third volatility estimator based on intraday data and compares three efficient frontiers on the Croatian Stock Market. The results show that range-based volatility estimator outperforms both mean-variance and lower semi-variance model.

Keywords: variance, lower semi-variance, range-based volatility, MPT

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Authors: Byung Cheol Kim

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The Program Evaluation and Review Technique (PERT) is widely used for project management, but it struggles with subjective distributions, particularly due to its assumptions of constant variance and light tails. To overcome these limitations, we propose the Generalized PERT (G-PERT) model, which enhances PERT by incorporating variability in three-point subjective estimates. Our methodology extends the original PERT model to cover the full range of unimodal beta distributions, enabling the model to handle thick-tailed distributions and offering formulas for computing mean and variance. This maintains the simplicity of PERT while providing a more accurate depiction of uncertainty. Our empirical analysis demonstrates that the G-PERT model significantly improves performance, particularly when dealing with heavy-tail subjective distributions. In comparative assessments with alternative models such as triangular and lognormal distributions, G-PERT shows superior accuracy and flexibility. These results suggest that G-PERT offers a more robust solution for project estimation while still retaining the user-friendliness of the classic PERT approach.

Keywords: PERT, subjective distribution, project management, flexible variance

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Authors: Juan M. Rodriguez-Diaz

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The precision of parameter estimators in the Gaussian linear model is traditionally accounted by the variance-covariance matrix of the asymptotic distribution. However, this measure can underestimate the true variance, specially for small samples. Traditionally, optimal design theory pays attention to this variance through its relationship with the model's information matrix. For this reason it seems convenient, at least in some cases, adapt the optimality criteria in order to get the best designs for the actual variance structure, otherwise the loss in efficiency of the designs obtained with the traditional approach may be very important.

Keywords: correlated observations, information matrix, optimality criteria, variance-covariance matrix

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Authors: Ali Kurşun, Emre Kara, Erhan Çetin, Şafak Aksoy, Ahmet Kesimli

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In this study, thermal elastic stress distribution occurred on long hollow cylinders made of functionally graded material (FGM) was analytically defined under thermal, mechanical and thermo mechanical loads. In closed form solutions for elastic stresses and displacements are obtained analytically by using the infinitesimal deformation theory of elasticity. It was assumed that elasticity modulus, thermal expansion coefficient and density of cylinder materials could change in terms of an exponential function as for that Poisson’s ratio was constant. A gradient parameter n is chosen between - 1 and 1. When n equals to zero, the disc becomes isotropic. Circumferential, radial and longitudinal stresses in the FGMs cylinders are depicted in the figures. As a result, the gradient parameters have great effects on the stress systems of FGMs cylinders.

Keywords: functionally graded materials, thermoelasticity, thermomechanical load, hollow cylinder.

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Authors: Prathmesh Vikas Patil, Yashaswini Lomte Patil

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Laminated composite materials have considerable attention in various engineering applications due to their exceptional strength-to-weight ratio and mechanical properties. The analysis of laminated composite plates in three-dimensional (3D) elasticity is a complex problem, as it requires accounting for the orthotropic anisotropic nature of the material and the interactions between multiple layers. Conventional approaches, such as the classical plate theory, provide simplified solutions but are limited in performing exact analysis of the plate. To address such a challenge, the state space method emerges as a powerful numerical technique for modeling the behavior of laminated composites in 3D. The state-space method involves transforming the governing equations of elasticity into a state-space representation, enabling the analysis of complex structural systems in a systematic manner. Here, an effort is made to perform a 3D elasticity analysis of plates with cross-ply and angle-ply laminates using the state space approach. The state space approach is used in this study as it is a mixed formulation technique that gives the displacements and stresses simultaneously with the same level of accuracy.

Keywords: cross ply laminates, angle ply laminates, state space method, three-dimensional elasticity analysis

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Authors: Seyyed Feisal Asbaghian Namin, Reza Pilafkan, Mahmood Kaffash Irzarahimi

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TThis paper considers vibration of single-layered graphene sheets using molecular dynamics (MD) and nonlocal elasticity theory. Based on the MD simulations, Large-scale Atomic/Molecular Massively Parallel Simulator (LAMMPS), an open source software, is used to obtain fundamental frequencies. On the other hand, governing equations are derived using nonlocal elasticity and first order shear deformation theory (FSDT) and solved using generalized differential quadrature method (GDQ). The small-scale effect is applied in governing equations of motion by nonlocal parameter. The effect of different side lengths, boundary conditions and nonlocal parameter are inspected for aforementioned methods. Results are obtained from MD simulations is compared with those of the nonlocal elasticity theory to calculate appropriate values for the nonlocal parameter. The nonlocal parameter value is suggested for graphene sheets with various boundary conditions. Furthermore, it is shown that the nonlocal elasticity approach using classical plate theory (CLPT) assumptions overestimates the natural frequencies.

Keywords: graphene sheets, molecular dynamics simulations, fundamental frequencies, nonlocal elasticity theory, nonlocal parameter

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Authors: Maryam Savari, Mohamad Nizam Ayub, Ainuddin Wahid Abdul Wahab

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Game-based Learning (GBL) is an alternative that provides learners with an opportunity to experience a volatile environment in a safe and secure place. A volatile environment requires a different technique to facilitate learning and prevent injury and other hazards. Subjects involving elasticity are always considered hazardous and can cause injuries,for instance a bouncing ball. Elasticity is a topic that necessitates hands-on practicality for learners to experience the effects of elastic objects. In this paper the scope is to investigate the natural interaction between learners and elastic objects in a safe environment using GBL. During interaction, the potentials of natural contact in the process of learning were explored and gestures exhibited during the learning process were identified. GBL was developed using Kinect technology to teach elasticity to primary school children aged 7 to 12. The system detects body gestures and defines the meanings of motions exhibited during the learning process. The qualitative approach was deployed to constantly monitor the interaction between the student and the system. Based on the results, it was found that Natural Interaction GBL (Ni-GBL) is engaging for students to learn, making their learning experience more active and joyful.

Keywords: elasticity, Game-Based Learning (GBL), kinect technology, natural interaction

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Authors: Jaan Lellep, Shahid Mubasshar

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A numerical solution is developed for simply supported nanoarches based on the non-local theory of elasticity. The nanoarch under consideration has a step-wise variable cross-section and is weakened by crack-like defects. It is assumed that the cracks are stationary and the mechanical behaviour of the nanoarch can be modeled by Eringen’s non-local theory of elasticity. The physical and thermal properties are sensitive with respect to changes of dimensions in the nano level. The classical theory of elasticity is unable to describe such changes in material properties. This is because, during the development of the classical theory of elasticity, the speculation of molecular objects was avoided. Therefore, the non-local theory of elasticity is applied to study the vibration of nanostructures and it has been accepted by many researchers. In the non-local theory of elasticity, it is assumed that the stress state of the body at a given point depends on the stress state of each point of the structure. However, within the classical theory of elasticity, the stress state of the body depends only on the given point. The system of main equations consists of equilibrium equations, geometrical relations and constitutive equations with boundary and intermediate conditions. The system of equations is solved by using the method of separation of variables. Consequently, the governing differential equations are converted into a system of algebraic equations whose solution exists if the determinant of the coefficients of the matrix vanishes. The influence of cracks and steps on the natural vibration of the nanoarches is prescribed with the aid of additional local compliance at the weakened cross-section. An algorithm to determine the eigenfrequencies of the nanoarches is developed with the help of computer software. The effects of various physical and geometrical parameters are recorded and drawn graphically.

Keywords: crack, nanoarches, natural frequency, step

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Authors: Jefferson Hernandez, Juan Padilla

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Estimation of price elasticity of demand is a valuable tool for the task of price settling. Given its relevance, it is an active field for microeconomic and statistical research. Price elasticity in the industry of oil and gas, in particular for fuels sold in gas stations, has shown to be a challenging topic given the market and state restrictions, and underlying correlations structures between the types of fuels sold by the same gas station. This paper explores the Lotka-Volterra model for the problem for price elasticity estimation in the context of fuels; in addition, it is introduced multivariate random effects with the purpose of dealing with errors, e.g., measurement or missing data errors. In order to model the underlying correlation structures, the Inverse-Wishart, Hierarchical Half-t and LKJ distributions are studied. Here, the Bayesian paradigm through Markov Chain Monte Carlo (MCMC) algorithms for model estimation is considered. Simulation studies covering a wide range of situations were performed in order to evaluate parameter recovery for the proposed models and algorithms. Results revealed that the proposed algorithms recovered quite well all model parameters. Also, a real data set analysis was performed in order to illustrate the proposed approach.

Keywords: price elasticity, volume, correlation structures, Bayesian models

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Authors: Mohammed Abed, Rita Nemes, Salem Nehme

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The present study experimentally investigated the impact of incorporating unprocessed waste fly ash (UWFA) on the residual mechanical properties of self-compacting concrete (SCC) after exposure to elevated temperature. Three mixtures of SCC have been produced by replacing the cement mass by 0%, 15% and 30% of UWFA. Generally, the fire resistance of SCC has been enhanced by replacing the cement up to 15% of UWFA, especially in case of residual modulus of elasticity which considers more sensitive than other mechanical properties at elevated temperature. However, a strong linear relationship has been observed between the residual flexural strength and modulus of elasticity, where both of them affected significantly by the cracks appearance and propagation as a result of elevated temperature. Sustainable products could be produced by incorporating unprocessed waste powder materials in the production of concrete, where the waste materials, CO₂ emissions, and the energy needed for processing are reduced.

Keywords: self-compacting high-performance concrete, unprocessed waste fly ash, fire resistance, residual modulus of elasticity

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Authors: H. C. Chinwenyi, H. D. Ibrahim, F. A. Ahmed

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In modern financial mathematics, valuing derivatives such as options is often a tedious task. This is simply because their fair and correct prices in the future are often probabilistic. This paper examines three different Stochastic Differential Equation (SDE) models in finance; the Constant Elasticity of Variance (CEV) model, the Balck-Karasinski model, and the Heston model. The various Martingales option price valuation formulas for these three models were obtained using the replicating portfolio method. Also, the numerical solution of the derived Martingales options price valuation equations for the SDEs models was carried out using the Monte Carlo method which was implemented using MATLAB. Furthermore, results from the numerical examples using published data from the Nigeria Stock Exchange (NSE), all share index data show the effect of increase in the underlying asset value (stock price) on the value of the European Put Option for these models. From the results obtained, we see that an increase in the stock price yields a decrease in the value of the European put option price. Hence, this guides the option holder in making a quality decision by not exercising his right on the option.

Keywords: equivalent martingale measure, European put option, girsanov theorem, martingales, monte carlo method, option price valuation formula

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Authors: Mostafa Kazemi, Zahra N. Farkhani

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This paper proposes an integrated Data Envelopment Analysis (DEA) and Variance Inflation Factor (VIF) model for measuring the technical efficiency of decision making units. The model is validated using a set of 69% sales representatives’ dairy products. The analysis is done in two stages, in the first stage, VIF technique is used to distinguish independent effective factors of resellers, and in the second stage we used DEA for measuring efficiency for both constant and variable return to scales status. Further DEA is used to examine the utilization of environmental factors on efficiency. Results of this paper indicated an average managerial efficiency of 83% in the whole sales representatives’ dairy products. In addition, technical and scale efficiency were counted 96% and 80% respectively. 38% of sales representative have the technical efficiency of 100% and 72% of the sales representative in terms of managerial efficiency are quite efficient.High levels of relative efficiency indicate a good condition for sales representative efficiency.

Keywords: data envelopment analysis (DEA), relative efficiency, sales representatives’ dairy products, variance inflation factor (VIF)

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Authors: P. K. Sarkar, Amit Kumar Jain

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The demand for Urban transportation is characterised by a large scale temporal and spatial variations which causes heavy congestion inside metro trains in peak hours near Centre Business District (CBD) of the city. The conventional approach to address peak hour congestion, metro trains has been to increase the supply by way of introduction of more trains, increasing the length of the trains, optimising the time table to increase the capacity of the system. However, there is a limitation of supply side measures determined by the design capacity of the systems beyond which any addition in the capacity requires huge capital investments. The demand side interventions are essentially required to actually spread the demand across the time and space. In this study, an attempt has been made to identify the potential Transport Demand Management tools applicable to Urban Rail Transportation systems with a special focus on differential pricing. A conceptual price elasticity model has been developed to analyse the effect of various combinations of peak and nonpeak hoursfares on demands. The elasticity values for peak hour, nonpeak hour and cross elasticity have been assumed from the relevant literature available in the field. The conceptual price elasticity model so developed is based on assumptions which need to be validated with actual values of elasticities for different segments of passengers. Once validated, the model can be used to determine the peak and nonpeak hour fares with an objective to increase overall ridership, revenue, demand levelling and optimal utilisation of assets.

Keywords: urban transport, differential fares, congestion, transport demand management, elasticity

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Authors: Saba Riaz, Syed A. Hussain

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This paper is addressing the estimation method of the unknown population variance of the variable of interest. A new generalized class of estimators of the finite population variance has been suggested using the auxiliary information. To improve the precision of the proposed class, known population variance of the auxiliary variable has been used. Mathematical expressions for the biases and the asymptotic variances of the suggested class are derived under large sample approximation. Theoretical and numerical comparisons are made to investigate the performances of the proposed class of estimators. The empirical study reveals that the suggested class of estimators performs better than the usual estimator, classical ratio estimator, classical product estimator and classical linear regression estimator. It has also been found that the suggested class of estimators is also more efficient than some recently published estimators.

Keywords: study variable, auxiliary variable, finite population variance, bias, asymptotic variance, percent relative efficiency

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Authors: First A. Lahmar Lahbib, Second B. Abdeldjebar Rabiâ, Third C. Moudden B, forth D. Missoum L

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Vibration tests are used to identify the elasticity modulus in two directions. This strategy is applied to composite materials glass / polyester. Experimental results made on a specimen in free vibration showed the efficiency of this method. Obtained results were validated by a comparison to results stemming from static tests.

Keywords: beam, characterization, composite, elasticity modulus, vibration.

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Authors: V. Rao, A. Bedford

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As the efficient performance of national grid becomes increasingly important to maintain the electrical network stability, the balance between the generation and the demand must be effectively maintained. To do this, any losses that occur in the power network must be reduced by compensating for it. In this paper, one of the main cause for the losses in the network is identified as the variance, which hinders the grid’s power carrying capacity. The reason for the variance in the grid is investigated and identified as the rise in the integration of renewable energy sources (RES) such as wind and solar power. The intermittent nature of these RES along with fluctuating demands gives rise to variance in the electrical network. The losses that occur during this process is estimated by analyzing the network’s power profiles. Whilst researchers have identified different ways to tackle this problem, little consideration is given to energy storage. This paper seeks to redress this by considering the role of energy storage systems as potential solutions to reduce variance in the network. The implementation of suitable energy storage systems based on different applications is presented in this paper as part of variance reduction method and thus contribute towards maintaining a stable and efficient grid operation.

Keywords: energy storage, electrical losses, national grid, renewable energy, variance

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Authors: Pei-Hsiu Chiang, Ling Hong Huang, Hsin-I Chang

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In this research, we used UVA irradiation, which can penetrate into dermis and fibroblasts, the most abundant cells in dermis, to investigate the effect of UV light on dermis, such as inflammation, ECM degradation and elasticity loss. Moreover, this research is focused on the influence of hyaluronic acid (HA) on UVA treated dermal fibroblasts. We aim to establish whether HA can effectively relief ECM degradation, and restore the elasticity of UVA-damaged fibroblasts. Prolonged exposure to UVA radiation can damage fibroblasts and led variation in cell morphology and reduction in cell viability. Besides, UVA radiation can induce IL-1β expression on fibroblasts and then promote MMP-1 and MMP-3 expression, which can accelerate ECM degradation. On the other hand, prolonged exposure to UVA radiation reduced collagen and elastin synthesis on fibroblasts. Due to the acceleration of ECM degradation and the reduction of ECM synthesis, Atomic force microscope (AFM) was used to analyze the elasticity reduction on UVA-damaged fibroblasts. UVA irradiation causes photoaging on fibroblasts. UVA damaged fibroblasts with HA treatment can down-regulate the gene expression of MMP-1, MMP-3, and then slow down ECM degradation. On the other hand, HA may restore elastin and collagen synthesis in UV-damaged fibroblasts. Based on the slowdown of ECM degradation, UVA-damaged fibroblast elasticity can be effectively restored by HA treatment. In summary, HA can relief the photoaging conditions on fibroblasts, but may not be able to return fibroblasts to normal, healthy state. Although HA cannot fully recover UVA-damaged fibroblasts, HA is still potential for repairing photoaging skin.

Keywords: atomic force microscope, hyaluronic acid, UVA radiation, dermal fibroblasts

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Authors: Donglan Zha, Jiansong Si

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Because of its flexibility, CES attracts much interest in economic growth and programming models, and the macroeconomics or micro-macro models. This paper focuses on the development, estimating methods of CES production function considering energy as an input. We leave for future research work of relaxing the assumption of constant returns to scale, the introduction of potential input factors, and the generalization method of the optimal nested form of multi-factor production functions.

Keywords: bias of technical change, CES production function, elasticity of substitution, energy input

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Authors: Mohammad Anwar, Shah Waliullah

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The development of science and technology in the present era has an urgent demand for the training of thinking of undergraduates. This requirement actively promotes research and teaching of basic theories, beneficial to the career development of students. This study clarified the dialectical relation between the thermodynamic equilibrium constant and reaction rate constant through the contrast thinking method. Findings reveal that both the isobaric Van't Hoff equation and the Arrhenius equation had four similar forms, and the change in the trend of both constants showed a similar law. By the derivation of the formation rate constant of the product (KY) and the consumption rate constant of the reactant (KA), the ratio of both constants at the end state indicated the nature of the equilibrium state in agreement with that of the thermodynamic equilibrium constant (K^θ (T)). This study has thus presented that the thermodynamic equilibrium constant contained the characteristics of microscopic dynamics based on the analysis of the reaction mechanism, and both constants are organically connected and unified. The reaction enthalpy and activation energy are closely related to each other with the same connotation.

Keywords: thermodynamic equilibrium constant, reaction rate constant, PBL teaching, dialectical relation, innovative thinking

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Authors: Nurshafika Adira Bt Audi Ashraf, Habsah Alwi

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This study describes the series of analysis conducted after the use of Vacuum far Infra Red. Parameter including the constant drying temperature at 40°C with pressure difference (-400 bar, -500 bar and -600 bar) and constant drying pressure at -400 bar with difference temperature (40°C, 50°C and 60°C). The dried leaves with constant temperature and constant pressure is compared with the fresh leaves via several analysis including TGA, FTIR and Chromameter. Results indicated that the fresh leaves shows three degradation stages while temperature constant shows four stages of degradation and at constant pressure of -400 bar, five stages of degradation is shown. However, at the temperature constant with pressure -500 bar, five degradation stages are identified and at constant pressure with temperature 40°C, three stage of degradation is presence. It is assumed that it is due to the difference size of the sample as the particle size is decrease, the peak temperature shown in TG curves is also decrease which lead to the rapid ignition. Based on the FTIR analysis, fresh leaves gives the high presence of O-H and C=O group where both of the constant parameters give the absence of those due to the drying effects. In color analysis, the constant drying parameters (pressure and temperature) both shows that as the temperature increases, the average total of color change is also increases.

Keywords: chromameter, FTIR, TGA, Vaccum far infrared dying

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