Search results for: forward pricing

Authors: S. M. Dash, K. B. Lua, T. T. Lim

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This paper presents results of numerical and experimental studies on a two-dimensional (2D) flapping elliptic airfoil in a forward flight condition at Reynolds number of 5000. The study is motivated from an earlier investigation which shows that the deterioration in thrust performance of a sinusoidal heaving and pitching 2D (NACA0012) airfoil at high flapping frequency can be recovered by changing the effective angle of attack profile to square wave, sawtooth, or cosine wave shape. To better understand why such modifications lead to superior thrust performance, we take a closer look at the transient aerodynamic force behavior of an airfoil when the effective angle of attack profile changes gradually from a generic smooth trapezoidal profile to a sinusoid shape by modifying the base length of the trapezoid. The choice of using a smooth trapezoidal profile is to avoid the infinite acceleration condition encountered in the square wave profile. Our results show that the enhancement in the time-averaged thrust performance at high flapping frequency can be attributed to the delay and reduction in the drag producing valley region in the transient thrust force coefficient when the effective angle of attack profile changes from sinusoidal to trapezoidal.

Keywords: two-dimensional flapping airfoil, thrust performance, effective angle of attack, CFD, experiments

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Authors: Saurabh Agarwal

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This paper attempts to formalise the effect of demographic variables like marital status, gender, occupation and age on the source of investment advice which, in turn, affect the herd behaviour of investors and probability of investment in near future. Further, postulations have been made for most preferred investment option and purpose of saving and source of investment. Impact of theoretical analysis on choice among investment alternatives has also been investigated. The analysis contributes to understanding the different investment choices made by households in India. The insights offered in the paper indirectly contribute in uncovering the various unexplained asset pricing puzzles.

Keywords: portfolio choice, investment decisions, investor’s behaviour, Indian securities market

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Authors: L. Ngowi, N. H. Mvungi

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This paper critically examines the evolution of socio-technical systems theory, its practices, and challenges in system design and development. It examines concepts put forward by researchers focusing on the application of the theory in software engineering. There are various methods developed that use socio-technical concepts based on systems engineering without remarkable success. The main constraint is the large amount of data and inefficient techniques used in the application of the concepts in system engineering for developing time-bound systems and within a limited/controlled budget. This paper critically examines each of the methods, highlight bottlenecks and suggest the way forward. Since socio-technical systems theory only explains what to do, but not how doing it, hence engineers are not using the concept to save time, costs and reduce risks associated with new frameworks. Hence, a new framework, which can be considered as a practical approach is proposed that borrows concepts from soft systems method, agile systems development and object-oriented analysis and design to bridge the gap between theory and practice. The approach will enable the development of systems using socio-technical systems theory to attract/enable the system engineers/software developers to use socio-technical systems theory in building worthwhile information systems to avoid fragilities and hostilities in the work environment.

Keywords: socio-technical systems, human centered design, software engineering, cognitive engineering, soft systems, systems engineering

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Authors: Behnam Zahednejad, Saeed Kosari

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Widespread deployment of Internet of Things (IoT) has raised security and privacy issues in this environment. Designing a secure two-factor authentication scheme between the user and server is still a challenging task. In this paper, we focus on Cancelable Biometric (CB) as an authentication factor in IoT. We show that previous CB-based scheme fail to provide real two-factor security, Perfect Forward Secrecy (PFS) and suffer database attacks and traceability of the user. Then we propose our improved scheme based on CB and Physically Unclonable Functions (PUF), which can provide real two-factor security, PFS, user’s unlinkability, and resistance to database attack. In addition, Key Compromise Impersonation (KCI) resilience is achieved in our scheme. We also prove the security of our proposed scheme formally using both Real-Or-Random (RoR) model and the ProVerif analysis tool. For the usability of our scheme, we conducted a performance analysis and showed that our scheme has the least communication cost compared to the previous CB-based scheme. The computational cost of our scheme is also acceptable for the IoT environment.

Keywords: IoT, two-factor security, cancelable biometric, key compromise impersonation resilience, perfect forward secrecy, database attack, real-or-random model, ProVerif

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Authors: Awe Ayodeji Samson, Adeuja Yetunde Omowunmi

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Corruption is a ‘monster’ that can consume a whole nation, continent and even the world if it is not destroyed while it is still immature; It grows in the mind of the people, takes over their thinking and guides their decision-making process. Corruption snowballs into socio-economic catastrophe that might be difficult to deal with. Corruption which is a disease of the mind can be alleviated in Africa and the world at large by transforming a Corruption-Prone Mind to a Corruption-Immune Mind and to achieve this, we have to change our value system because the use of anti-graft agencies alone is not enough. Therefore, we have to fight corruption from the inside and the outside. Value System is the principle of right and wrong that are accepted by an individual or a social group; the reviewing and reordering of our value system is the solution to the problem of corruption as proposed by this research because the African society has become a ‘Money and Power Driven Society’ where the ‘I am worth concept’ which is a problematic concept has created an ‘Aggressive Society’ with grasping and money-grabbing individuals. We place more priority on money and the display of opulence. Hence, this has led to a ‘Triangular Society’ where minority is lavishing in plenty and majority is gasping for little. The get rich quick syndrome, the ethnicity syndrome, weakened educational system are signs of the prevalence of corruption in Africa This research has analyzed role and impact of the change in our value system in the fight against corruption in Africa and has therefore proposed the change in our value system as the way forward in the fight against corruption in Africa.

Keywords: corruption-prone mind, corruption-immune mind, triangular society, aggressive society, money and power-driven society

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Authors: Shubhangi R. Deshmukh, Anupam B. Soni

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Clean water and electricity are vital services needed in all communities. Bio-degradation of wastewater contaminants and desalination technologies are the best possible alternatives for the global shortage of fresh water supply. Osmotic microbial fuel cell (OMFC) is a versatile technology that uses microorganism (used for biodegradation of organic waste) and membrane technology (used for water purification) for wastewater treatment and energy generation simultaneously. This technology is the combination of microbial fuel cell (MFC) and forward osmosis (FO) processes. OMFC can give more electricity and clean water than the MFC which has a regular proton exchange membrane. FO gives many improvements such as high contamination removal, lower operating energy, raising high proton flux than other pressure-driven membrane technology. Lower concentration polarization lowers the membrane fouling by giving osmotic water recovery without extra cost. In this review paper, we have discussed the principle, mechanism, limitation, and application of OMFC technology reported to date. Also, we have interpreted the experimental data from various literature on the water recovery and electricity generation assessed by a different component of OMFC. The area of producing electricity using OMFC has further scope for research and seems like a promising route to wastewater treatment.

Keywords: forward osmosis, microbial fuel cell, osmotic microbial fuel cell, wastewater treatment

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Authors: M. H. Aldahrob, A. Kokce, S. Altindal, H. E. Lapa

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In order to obtain the detailed information about the effect of (Zn-doped PVA) interfacial layer, surface states (Nss) and series resistance (Rs) on electrical characteristics, both Au/n- type 4H-SiC (MS) with and without (Zn doped PVA) interfacial layer were fabricated to compare. The main electrical parameters of them were investigated using forward and reverse bias current-voltage (I-V), capacitance-voltage (C-V) and conductance –voltage (G/W –V) measurements were performed at room temperature. Experimental results show that the value of ideality factor (n), zero –bias barrier height (ΦBo), Rs, rectifier rate (RR=IF/IR) and the density of Nss are strong functions interfacial layer and applied bias voltage. The energy distribution profile of Nss was obtained from forward bias I-V data by taking into account voltage dependent effective BH (ΦBo) and ideality factor (n(V)). Voltage dependent profile of Rs was also obtained both by using Ohm’s law and Nicollian and Brew methods. The other main diode parameters such as the concentration of doping donor atom (ND), Fermi energy level (EF).BH (ΦBo), depletion layer with (WD) were obtained by using the intercept and slope of the reverse bias C-2 vs V plots. It was found that (Zn-doped PVA) interfacial layer lead to a quite decrease in the values Nss, Rs and leakage current and increase in shunt resistance (Rsh) and RR. Therefore, we can say that the use of thin (Zn-doped PVA) interfacial layer can quite improved the performance of MS structure.

Keywords: interfacial polymer layer, thickness dependence, electric and dielectric properties, series resistance, interface state

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Authors: Yoon- Ho Shin, Jin-Seung Choi, Dong-Won Kang, Jeong-Woo Seo, Joo-Hack Lee, Ju-Young Kim, Dae-Hyeok Kim, Seung-Tae Yang, Gye-Rae Tack

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It is difficult to study the effect of various variables on cycle fitting through actual experiment. To overcome such difficulty, the forward dynamics of a musculoskeletal model was applied to cycle fitting in this study. The measured EMG data were compared with the muscle activities of the musculoskeletal model through forward dynamics. EMG data were measured from five cyclists who do not have musculoskeletal diseases during three minutes pedaling with a constant load (150 W) and cadence (90 RPM). The muscles used for the analysis were the Vastus Lateralis (VL), Tibialis Anterior (TA), Bicep Femoris (BF), and Gastrocnemius Medial (GM). Person’s correlation coefficients of the muscle activity patterns, the peak timing of the maximum muscle activities, and the total muscle activities were calculated and compared. BIKE3D model of AnyBody (Anybodytech, Denmark) was used for the musculoskeletal model simulation. The comparisons of the actual experiments with the simulation results showed significant correlations in the muscle activity patterns (VL: 0.789, TA: 0.503, BF: 0.468, GM: 0.670). The peak timings of the maximum muscle activities were distributed at particular phases. The total muscle activities were compared with the normalized muscle activities, and the comparison showed about 10% difference in the VL (+10%), TA (+9.7%), and BF (+10%), excluding the GM (+29.4%). Thus, it can be concluded that muscle activities of model & experiment showed similar results. The results of this study indicated that it was possible to apply the simulation of further improved musculoskeletal model to cycle fitting.

Keywords: musculoskeletal modeling, EMG, cycle fitting, simulation

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Authors: Bita Mashayekhi, Mohammad Ara

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The purpose of this study is to provide some empirical evidence about implementing Activity-Based Costing (ABC) in the hospitality industry in Iran. For this purpose, we consider the Tabriz International Hotel as our sample hotel and then gather the relevant data from its cost accounting system in 2012. Then, we use ABC as our costing method and compare the cost of each service unit with that cost which had been extracted for the traditional costing method. The results show a different cost per unit for two methods. Also, because of its more precise and detailed provided information, an ABC system facilitates the decision-making process for managers on decisions related to profitability analysis, budgeting, pricing, and so on.

Keywords: Activity-Based Costing (ABC), activity, cost driver, hospitality industry

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Authors: T. P. Singh, Vijay Gautam

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Gladiolus is an important cash crop and is grown mainly for its elegant spikes. Traditionally the gladiolus corms are planted manually which is very tedious, time consuming and labor intensive operation. So far, there is no planter available for planting of gladiolus corms. With a view to mechanize the planting operation of this horticultural crop, a prototype of 4-row gladiolus planter was developed and its performance was evaluated in-situ condition. Cup-chain type metering device was used to singulate the gladiolus corms while planting. Three levels of corm spacing viz 15, 20 and 25 cm and four levels of forward speed viz 1.0, 1.5, 2.0 and 2.5 km/h was taken as evaluation parameter for the planter. The performance indicators namely corm spacing in each row, coefficient of uniformity, missing index, multiple index, quality of feed index, number of corms per meter length, mechanical damage to the corms etc. were determined during the field test. The data was statistically analyzed using Completely Randomized Design (CRD) for testing the significance of the parameters. The result indicated that planter was able to drop the corms at required nominal spacing with minor variations. The highest deviation from the mean corm spacing was observed as 3.53 cm with maximum coefficient of variation as 13.88%. The highest missing and quality of feed indexes were observed as 6.33% and 97.45% respectively with no multiples. The performance of the planter was observed better at lower forward speed and wider corm spacing. The field capacity of the planter was found as 0.103 ha/h with an observed field efficiency of 76.57%.

Keywords: coefficient of uniformity, corm spacing, gladiolus planter, mechanization

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Authors: Osung Im, Neha Yadav, Eui Hoon Lee, Joong Hoon Kim

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Artificial Neural Network (ANN) approach is commonly used in lots of fields for forecasting. In water resources engineering, forecast of water level or inflow of reservoir is useful for various kind of purposes. Due to advantages of ANN, many papers were written for inflow prediction in river networks, but in this study, ANN is used in urban sewer networks. The growth of severe rain storm in Korea has increased flood damage severely, and the precipitation distribution is getting more erratic. Therefore, effective pump operation in pump station is an essential task for the reduction in urban area. If real time inflow of pump station reservoir can be predicted, it is possible to operate pump effectively for reducing the flood damage. This study used ANN model for pump station reservoir inflow prediction using upstream sewer depth data. For this study, rainfall events, sewer depth, and inflow into Banpo pump station reservoir between years of 2013-2014 were considered. Feed – Forward Back Propagation (FFBF), Cascade – Forward Back Propagation (CFBP), Elman Back Propagation (EBP) and Nonlinear Autoregressive Exogenous (NARX) were used as ANN model for prediction. A comparison of results with ANN model suggests that ANN is a powerful tool for inflow prediction using the sewer depth data.

Keywords: artificial neural network, forecasting, reservoir inflow, sewer depth

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Authors: Mario P. Walker, Masaaki Okuma

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Ships are subjected to motions which can disrupt on-board operations and damage equipment. Roll motion, in particular, is of great interest due to low damping conditions which may lead to capsizing. Therefore finding ways to reduce this motion is important in ship designs. Several techniques have been investigated to reduce rolling. These include the commonly used anti-roll tanks, fin stabilizers and bilge keels. However, these systems are not without their challenges. For example, water-flow in anti-roll tanks creates complications, and for fin stabilizers and bilge keels, an extremely large size is required to produce any significant damping creating operational challenges. Additionally, among these measures presented above only anti-roll tanks are effective in zero forward motion of the vessels. This paper proposes and investigates a method to reduce rolling by inducing Coriolis effect using water-flow in the radial direction. Motion in the radial direction of a rolling structure will induce Coriolis force and, depending on the direction of flow will either amplify or attenuate the structure. The system is modelled with two degrees of freedom, having rotational motion for parametric rolling and radial motion of the water-flow. Equations of motion are derived and investigated. Numerical examples are analyzed in detail. To demonstrate applicability parameters from a Ro-Ro vessel are used as extensive research have been conducted on these over the years. The vessel is investigated under free and forced roll conditions. Several models are created using various masses, heights, and velocities of water-flow at a given time. The proposed system was found to produce substantial roll reduction which increases with increase in any of the parameters varied as stated above, with velocity having the most significant effect. The proposed system provides a simple approach to reduce ship rolling. Water-flow control is very simple as the water flows in only one direction with constant velocity. Only needing to control the time at which the system should be turned on or off. Furthermore, the proposed system is effective in both forward and zero forward motion of the ship, and provides no hydrodynamic drag. This is a starting point for designing an effective and practical system. For this to be a viable approach further investigations are needed to address challenges that present themselves.

Keywords: Coriolis effect, damping, rolling, water-flow

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Authors: Babulayi B. Wilson

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Unsatisfactory performance of construction projects in both the industrialised and developing countries indicate that there could be several defects in construction projects phases. Notwithstanding the fact that some project defects are often conceived at the initiation phase of construction projects, insufficient knowledge of contract procedures has been identified as one of the major sources of construction disputes. Contract procedures are a set of rules that outlines the primary obligations and liabilities of parties involved in the implementation of a construction project. Engineering professional bodies often codify contract procedures into standard forms of contract such as the Institution of Civil Engineers (ICE, UK) and Association of Consulting Engineers (ACE, UK) and keep them under constant review by updating any clause to reflect any change in case law or relevant piece of legislation. Even so, it is the responsibility of a professional body or conditions of contract draftsperson to introduce contract-specific clauses that may be necessary for business efficacy but not covered in the chosen standard conditions of contract. In Botswana, the use of clients’ drafted and/or un-adapted for environment of use international forms of contract in conjunction with client-drafted pricing schedules is common. The product of the latter often impact negatively upon contractors’ claims and payments, in that, tender rates and prices can only be deemed to be sufficient if the chosen conditions of contract compliment the pricing schedule (use of standardised procurement documents). In addition, client drafted and the use of borrowed forms of contract such as FIDIC often conflict with domicile law resulting in costly disputes on the part of the client. It is upon the preceding text that the object of the research is to measure the level of knowledge of contract procedures amongst key stakeholders in the Botswana construction industry by requesting a representative sample from the industry and academia to respond to tutorial questions prepared from two commonly used forms of contract for civil works, that is, FIDIC (International Form of Contract) and ICE (UK). The questions were prepared under the following captions: (a) preparation of tender documents (b) obligations of the parties (c) contract administration; and (d) claims, variations, and valuation of variations. After ascertaining that the level of knowledge of contract procedures is insufficient among most practitioners in the Botswana construction industry, major procurement entities, and engineering institutions of learning; a guide to drafting a condition of a construction contract was developed and then validated through seminars and workshops. In the present, the effectiveness of the guide is not yet measured but feedback from seminars and workshops conducted indicates an appreciation of the guide by the majority of major construction industry stakeholders.

Keywords: contract procedures, conditions of contract, professional practice, construction law, forms of contract

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Authors: Yeliz Karaca, Carlo Cattani

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This study focuses on the local Holder exponent as a measure of the function regularity for time series related to finance data. In this study, the attributes of the finance dataset belonging to 13 countries (India, China, Japan, Sweden, France, Germany, Italy, Australia, Mexico, United Kingdom, Argentina, Brazil, USA) located in 5 different continents (Asia, Europe, Australia, North America and South America) have been examined.These countries are the ones mostly affected by the attributes with regard to financial development, covering a period from 2012 to 2017. Our study is concerned with the most important attributes that have impact on the development of finance for the countries identified. Our method is comprised of the following stages: (a) among the multi fractal methods and Brownian motion Holder regularity functions (polynomial, exponential), significant and self-similar attributes have been identified (b) The significant and self-similar attributes have been applied to the Artificial Neuronal Network (ANN) algorithms (Feed Forward Back Propagation (FFBP) and Cascade Forward Back Propagation (CFBP)) (c) the outcomes of classification accuracy have been compared concerning the attributes that have impact on the attributes which affect the countries’ financial development. This study has enabled to reveal, through the application of ANN algorithms, how the most significant attributes are identified within the relevant dataset via the Holder functions (polynomial and exponential function).

Keywords: artificial neural networks, finance data, Holder regularity, multifractals

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Authors: Younghyun Jeon, Seungjoo Maeng

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In the Ad-hoc network, the great interests regarding MIMO scheme leads to their combination, which is also utilized into its applicable network. We manage the field of the problem into Reverse-link MIMO Ad-hoc Network (RMAN) and propose the methodology to maximize the data rate with its power consumption using Node-Cooperative beamforming technique. Based on the result of mathematical optimization formulation, we design the algorithm to construct optimal orthogonal weight vector according to channel feedback and control its transmission power according to QoS-pricing value level. In simulation results, we show the validity of the proposed mathematical optimization result and algorithm which mean that the sum-rate of each link is converged into some point.

Keywords: ad-hoc network, MIMO, cooperative beamforming, transmit power

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Authors: Siddhartha Paul, Debabrata Das

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Closed-loop supply chain (CLSC) management focuses on integrating forward and reverse flow of material as well as information to maximize value creation over the entire life-cycle of a product. Bullwhip effect in supply chain management refers to the phenomenon where a small variation in customers’ demand results in larger variation of orders at the upstream levels of supply chain. Since the quality and quantity of products returned to the collection centers (as a part of reverse logistics process) are uncertain, bullwhip effect is inevitable in CLSC. Therefore, in the present study, first, through an extensive literature survey, we identify all the important factors related to forward as well as reverse supply chain which causes bullwhip effect in CLSC. Second, we develop a system dynamics model to study the interrelationship among the factors and their effect on the performance of overall CLSC. Finally, the results of the simulation study suggest that demand forecasting, lead times, information sharing, inventory and work in progress adjustment rate, supply shortages, batch ordering, price variations, erratic human behavior, parameter correcting, delivery time delays, return rate of used products, manufacturing and remanufacturing capacity constraints are the important factors which have a significant influence on system’s performance, specifically on bullwhip effect in a CLSC.

Keywords: bullwhip effect, closed-loop supply chain, system dynamics, variance ratio

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Authors: Nadya Patel, Jawn Lim

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Foresight 3.0 is a synergistic methodology that encompasses systems analysis, future studies, capacity building, and forward planning. These components are interconnected, fostering a collective anticipatory intelligence that promotes societal resilience (Ravetz, 2020). However, traditional applications of these strands can often fall short, leading to missed opportunities and narrow perspectives. Therefore, Foresight 3.0 champions a holistic approach to tackling complex issues, focusing on systemic transformations and power dynamics. Businesses are pivotal in preparing the workforce for an increasingly uncertain and complex world. This necessitates the adoption of innovative tools and methodologies, such as Foresight 3.0, that can better equip young employees to anticipate and navigate future challenges. Firstly, the incorporation of its methodology into workplace training can foster a holistic perspective among employees. This approach encourages employees to think beyond the present and consider wider social, economic, and environmental contexts, thereby enhancing their problem-solving skills and resilience. This paper discusses our research on integrating Foresight 3.0's transformative principles with a newly developed Critical Design Futures (CDF) framework to equip organisations with the ability to innovate for the world's most complex social problems. This approach is grounded in 'collective forward intelligence,' enabling mutual learning, co-innovation, and co-production among a diverse stakeholder community, where business transformation and innovation are achieved.

Keywords: business transformation, innovation, foresight, critical design

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Authors: Boulis M. Ibrahim, Iordanis A. Kalaitzoglou

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A micro structural pricing model is proposed in which price components account for learning by incorporating changing expectations of the trading intensity and the risk level of incoming trades. An analysis of European carbon futures transactions finds expected trading intensity to increase the information component and decrease the liquidity component of price changes, but at different rates. Among the results, the expected persistence in trading intensity explains the majority of the auto correlations in the level and the conditional volatility of price changes, helps predict hourly patterns in the bid–ask spread and differentiates between the impact of buy versus sell and continuing versus reversing trades.

Keywords: CO2 emission allowances, market microstructure, duration, price discovery

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Authors: Blair D. Macdonald

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After nearly one hundred years of its origin, foundational quantum mechanics remains one of the greatest unexplained mysteries in physicists today. Within this time, chaos theory and its geometry, the fractal, has developed. In this paper, the propagation behaviour with an iteration of a simple fractal, the Koch Snowflake, was described and analysed. From an arbitrary observation point within the fractal set, the fractal propagates forward by oscillation—the focus of this study and retrospectively behind by exponential growth from a point beginning. It propagates a potentially infinite exponential oscillating sinusoidal wave of discrete triangle bits sharing many characteristics of light and quantum entities. The model's wave speed is potentially constant, offering insights into the perception and a direction of time where, to an observer, when travelling at the frontier of propagation, time may slow to a stop. In isolation, the fractal is a superposition of component bits where position and scale present a problem of location. In reality, this problem is experienced within fractal landscapes or fields where 'position' is only 'known' by the addition of information or markers. The quantum' measurement problem', 'uncertainty principle,' 'entanglement,' and the classical-quantum interface are addressed; these are a problem of scale invariance associated with isolated fractality. Dual forward and retrospective perspectives of the fractal model offer the opportunity for unification between quantum mechanics and cosmological mathematics, observations, and conjectures. Quantum and cosmological problems may be different aspects of the one fractal geometry.

Keywords: measurement problem, observer, entanglement, unification

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Authors: Guan-Ying Chen, Han-Tsung Liou, Shou-Ren Hu

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To address traffic congestion problems and encourage the use of public transportation systems in the Taipei metropolitan area, the Taipei City Government and the New Taipei City Government implemented a monthly ticket policy on April 16, 2018. This policy offers unlimited rides on the Taipei MRT, Taipei City Bus, New Taipei City Bus, Danhai Light Rail, and Public Bike (YouBike) on a monthly basis. Additionally, both city governments replaced the smart card discount policy with a new frequent flyer discount program (referred to as the loyal customer program) on February 1, 2020, introducing a differential pricing policy. Specifically, the more frequently the Taipei MRT system is used, the greater the discounts users receive. To analyze the impact of the Taipei public transport monthly ticket policy and the frequent user discount program on the passenger volume of the Taipei MRT system and the transferring behaviors of MRT users, this study conducts a trip-chain analysis using transaction data from Taipei MRT smart cards between September 2017 and December 2020. To achieve these objectives, the study employs four indicators: 1) number of passengers, 2) average number of rides, 3) average trip distance, and 4) instances of multiple consecutive rides. The study applies the t-test and Mann-Kendall trend test to investigate whether the proposed indicators have changed over time due to the implementation of the discount policy. Furthermore, the study examines the travel behaviors of passengers who use monthly tickets. The empirical results of the study indicate that the implementation of the Taipei public transport monthly ticket policy has led to an increase in the average number of passengers and a reduction in the average trip distance. Moreover, there has been a significant increase in instances of multiple consecutive rides, attributable to the unlimited rides offered by the monthly tickets. The impact of the frequent user discount program on changes in MRT passengers is not as pronounced as that of the Taipei public transportation monthly ticket policy. This is partly due to the fact that the frequent user discount program is only applicable to the Taipei MRT system, and the passenger volume was greatly affected by the COVID-19 pandemic. The findings of this research can serve as a reference for Taipei MRT Corporation in formulating its fare strategy and can also provide guidance for the Taipei and New Taipei City Governments in evaluating differential pricing policies for public transportation systems.

Keywords: frequent user discount program, mass rapid transit, monthly ticket, smart card

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Authors: Mukund Ramchandra Mogarekar, Pankaj Kumar, Shraddha V. More

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Background: Total cholesterol (TC), low-density lipoprotein cholesterol (LDL-C), very low-density lipoprotein cholesterol (VLDL-C), Apo B, and lipoprotein(a) was found as atherogenic factors while high-density lipoprotein cholesterol (HDL-C) was anti-atherogenic. Methods and Results: The study group consists of 40 MI subjects as cases and 40 healthy as controls. Monocytic PON 2 Lactonase (LACT) activity was measured by using Dihydrocoumarine (DHC) as substrate. Phenotyping was done by method of Mogarekar MR et al, serum AOPP by modified method of Witko-Sarsat V et al and Apo B by Turbidimetric immunoassay. PON 2 LACT activities were significantly lower (p< 0.05) and AOPPs & Apo B were higher in MI subjects (p> 0.05). Trimodal distribution of QQ, QR & RR phenotypes of study population showed no significant difference among cases and controls (p> 0.05). Univariate binary logistic regression analysis showed independent association of TC, HDL, LDL, AOPP, Apo B, and PON 2 LACT activity with MI and multiple forward binary logistic regression showed PON 2 LACT activity and serum Apo B as an independent predictor of MI. Conclusions- Decrease in PON 2 LACT activity in MI subjects than in controls suggests increased oxidative stress in MI which is reflected by significantly increased AOPP and Apo B. PON 1 polymorphism of QQ, QR and RR showed no significant difference in protection against MI. Univariate and multiple forward binary logistic regression showed PON 2 LACT activity and serum Apo B as an independent predictor of MI.

Keywords: advanced oxidation protein products, apolipoprotein-B, myocardial infarction, paraoxonase 2 lactonase

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Authors: Seyedeh Nahal Sadiri, Ardalan Shariat

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Developing flexibility, by using pilates, would be useful for karate players by reducing the stiffness of muscles and tendons. This study aimed to determine the effects of 12-week pilates training on flexibility, and level of perceived exertion of back muscles among karate players. In this experimental study, 29 male karate players (age: 16-18 years) were randomized to pilates (n=15), and control (n=14) groups and the assessments were done in baseline and after 12-week intervention. Both groups completed 12-week of intervention (2 hours of training, 3 times weekly). The experimental group performed 30 minutes pilates within their warm-up and preparation phase, where the control group only attended their usual karate training. Digital backward flexmeter was used to evaluate the trunk extensors flexibility, and digital forward flexmeter was used to measure the trunk flexors flexibility. Borg CR-10 Scale was also used to determine the perceived exertion of back muscles. Independent samples t-test and paired sample t-test were used to analyze the data. There was a significant difference between the mean score of experimental and control groups in the level of backward trunk flexibility (P < 0.05), forward trunk flexibility (P < 0.05) after 12-week intervention. The results of Borg CR-10 scale showed a significant improvement in pilates group (P < 0.05). Karate instructors, coaches, and athletes can integrate pilates exercises with karate training in order to improve the flexibility, and level of perceived exertion of back muscles.

Keywords: pilates training, karate players, flexibility, Borg CR-10

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Authors: Marina Chavleishvili

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Introduction: Today, the study of monopolies, including natural monopolies, is topical. In real life, pure monopolies are natural monopolies. Natural monopolies are used widely and are regulated by the state. In particular, the prices and rates are regulated. The paper considers the problems associated with the operation of natural monopolies in Georgia, in particular, their microeconomic analysis, pricing mechanisms, and legal mechanisms of their operation. The analysis was carried out on the example of the power industry. The rates of natural monopolies in Georgia are controlled by the Georgian National Energy and Water Supply Regulation Commission. The paper analyzes the positive role and importance of the regulatory body and the issues of improving the legislative base that will support the efficient operation of the branch. Methodology: In order to highlight natural monopolies market tendencies, the domestic and international markets are studied. An analysis of monopolies is carried out based on the endogenous and exogenous factors that determine the condition of companies, as well as the strategies chosen by firms to increase the market share. According to the productivity-based competitiveness assessment scheme, the segmentation opportunities, business environment, resources, and geographical location of monopolist companies are revealed. Main Findings: As a result of the analysis, certain assessments and conclusions were made. Natural monopolies are quite a complex and versatile economic element, and it is important to specify and duly control their frame conditions. It is important to determine the pricing policy of natural monopolies. The rates should be transparent, should show the level of life in the country, and should correspond to the incomes. The analysis confirmed the significance of the role of the Antimonopoly Service in the efficient management of natural monopolies. The law should adapt to reality and should be applied only to regulate the market. The present-day differential electricity tariffs varying depending on the consumed electrical power need revision. The effects of the electricity price discrimination are important, segmentation in different seasons in particular. Consumers use more electricity in winter than in summer, which is associated with extra capacities and maintenance costs. If the price of electricity in winter is higher than in summer, the electricity consumption will decrease in winter. The consumers will start to consume the electricity more economically, what will allow reducing extra capacities. Conclusion: Thus, the practical realization of the views given in the paper will contribute to the efficient operation of natural monopolies. Consequently, their activity will be oriented not on the reduction but on the increase of increments of the consumers or producers. Overall, the optimal management of the given fields will allow for improving the well-being throughout the country. In the article, conclusions are made, and the recommendations are developed to deliver effective policies and regulations toward the natural monopolies in Georgia.

Keywords: monopolies, natural monopolies, regulation, antimonopoly service

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Authors: Medani Prasad Rijal

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The study outlines the impacts of decentralized forest policy on natural Sal (shorea robusta) forests in the Terai region of Nepal. The government has implemented community forestry program to manage the forest resources and improve the livelihood of local people collectively. The forest management authorities such as conserve, manage, develop and use of forest resources were shifted to the local communities, however, the ownership right of the forestland retained by the government. Local communities took the decision on harvesting, distribution, and sell of forest products by fixing the prices independently. The local communities were putting the low value of forest products and distributed among the user households on the name of collective decision. The decision of low valuation is devaluating the worth of forest products. Therefore, the study hypothesized that decision-making capacities are equally prominent next to the decentralized policy and program formulation. To accomplish the study, individual to group level discussions and questionnaire survey methods were applied with executive committee members and user households. The study revealed that the local intuition called Community Forest User Group (CFUG) committee normally took the decisions on consensus basis. Considering to the access and affording capacity of user households having poor economic backgrounds, low pricing mechanism of forest products has been practiced, even though the Sal timber is far expensive in the local market. The local communities thought that low pricing mechanism is accessible to all user households from poor to better off households. However, the analysis of forest products distribution opposed the assumption as most of the Sal timber, which is the most valuable forest product of community forest only purchased by the limited households of better economic conditions. Since the Terai region is heterogeneous by socio-economic conditions, better off households always have higher affording capacity and possibility of taking higher timber benefits because of low price mechanism. On the other hand, the minimum price rate of forest products has poor contribution in community fund collection. Consequently, it has poor support to carry out poverty alleviation activities to poor people. The local communities have been fixed Sal timber price rate around three times cheaper than normal market price, which is a strong evidence of forest product devaluation itself. Finally, the study concluded that the capacity building of local executives as the decision-makers of natural Sal forests is equally indispensable next to the policy and program formulation for effective decentralized forest management. Unilateral decentralized forest policy may devaluate the forest products rather than devolve of power to the local communities and empower to them.

Keywords: community forestry program, decentralized forest policy, Nepal, Sal forests, Terai

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Authors: Won Yeol Choi, Sangmo Kang

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The propulsion of a bacterial flagellum in a viscous fluid has attracted many interests in the field of biological hydrodynamics, but remains yet fully understood and thus still a challenging problem. In this study, therefore, we have numerically investigated the flow around a steadily rotating micro-sized spring to further understand such bacterial flagellum propulsion. Note that a bacterium gains thrust (propulsive force) by rotating the flagellum connected to the body through a bio motor to move forward. For the investigation, we convert the spring model from the micro scale to the macro scale using a similitude law (scale law) and perform simulations on the converted macro-scale model using a commercial software package, CFX v13 (ANSYS). To scrutinize the propulsion characteristics of the flagellum through the simulations, we make parameter studies by changing some flow parameters, such as the pitch, helical radius and rotational speed of the spring and the Reynolds number (or fluid viscosity), expected to affect the thrust force experienced by the rotating spring. Results show that the propulsion characteristics depend strongly on the parameters mentioned above. It is observed that the forward thrust increases in a linear fashion with either of the rotational speed or the fluid viscosity. In addition, the thrust is directly proportional to square of the helical radius and but the thrust force is increased and then decreased based on the peak value to the pitch. Finally, we also present the appropriate flow and pressure fields visualized to support the observations.

Keywords: fluid viscosity, hydrodynamics, similitude, propulsive force

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Authors: Joseph Ndegwa

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Changes are required if energy systems are to foster long-term growth. The main problems are increasing access to inexpensive, dependable, and sufficient energy supply while addressing environmental implications at all levels. Policies can help to promote sustainable development by providing adequate and inexpensive energy sources to underserved regions, such as liquid and gaseous fuels for cooking and electricity for household and commercial usage. Promoting energy efficiency. Increased utilization of new renewables. Spreading and implementing additional innovative energy technologies. Markets can achieve many of these goals with the correct policies, pricing, and regulations. However, if markets do not work or fail to preserve key public benefits, tailored government policies, programs, and regulations can achieve policy goals. The main strategies for promoting sustainable energy systems are simple. However, they need a broader recognition of the difficulties we confront, as well as a firmer commitment to specific measures. Making markets operate better by minimizing pricing distortions, boosting competition, and removing obstacles to energy efficiency are among the measures. Complementing the reform of the energy industry with policies that promote sustainable energy. Increasing investments in renewable energy. Increasing the rate of technical innovation at each level of the energy innovation chain. Fostering technical leadership in underdeveloped nations by transferring technology and enhancing institutional and human capabilities. promoting more international collaboration. Governments, international organizations, multilateral financial institutions, and civil society—including local communities, business and industry, non-governmental organizations (NGOs), and consumers—all have critical enabling roles to play in the problem of sustainable energy. Partnerships based on integrated and cooperative approaches and drawing on real-world experience will be necessary. Setting the required framework conditions and ensuring that public institutions collaborate effectively and efficiently with the rest of society are common themes across all industries and geographical areas in order to achieve sustainable development. Powerful tools for sustainable development include energy. However, significant policy adjustments within the larger enabling framework will be necessary to refocus its influence in order to achieve that aim. Many of the options currently accessible will be lost or the price of their ultimate realization (where viable) will grow significantly if such changes don't take place during the next several decades and aren't started right enough. In any case, it would seriously impair the capacity of future generations to satisfy their demands.

Keywords: sustainable development, reliable, price, policy

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Authors: Tianyu Wang, Nikita Karandikar

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The uncertainty around cost, safety, and feasibility of the decarbonized shipping fuels has made it increasingly complex for the shipping companies to set pricing strategies and forecast their freight revenues going forward. The increase in the green fuel surcharges will ultimately influence the automobile’s consumer prices. The auto shipping demand (ton-miles) has been gradually shifting from long-haul to short-sea trade over the past years following the relocation of the original equipment manufacturer (OEM) manufacturing to regions such as South America and Southeast Asia. The objective of this paper is twofold: 1) to investigate the car-carriers freight revenue development over the years when the trade pattern is gradually shifting towards short-sea exports 2) to empirically identify the quantitative impact of such trade pattern shifting to mainly freight rate, but also vessel size, fleet size as well as Green House Gas (GHG) emission in Roll on-Roll Off (Ro-Ro) shipping. In this paper, a model of analyzing and forecasting ton-miles and freight revenues for the trade routes of AS-NA (Asia to North America), EU-NA (Europe to North America), and SA-NA (South America to North America) is established by deploying Automatic Identification System (AIS) data and the financial results of a selected car carrier company. More specifically, Wallenius Wilhelmsen Logistics (WALWIL), the Norwegian Ro-Ro carrier listed on Oslo Stock Exchange, is selected as the case study company in this paper. AIS-based ton-mile datasets of WALWIL vessels that are sailing into North America region from three different origins (Asia, Europe, and South America), together with WALWIL’s quarterly freight revenues as reported in trade segments, will be investigated and compared for the past five years (2018-2022). Furthermore, ordinary‐least‐square (OLS) regression is utilized to construct the ton-mile demand and freight revenue forecasting. The determinants of trade pattern shifting, such as import tariffs following the China-US trade war and fuel prices following the 0.1% Emission Control Areas (ECA) zone requirement after IMO2020 will be set as key variable inputs to the machine learning model. The model will be tested on another newly listed Norwegian Car Carrier, Hoegh Autoliner, to forecast its 2022 financial results and to validate the accuracy based on its actual results. GHG emissions on the three routes will be compared and discussed based on a constant emission per mile assumption and voyage distances. Our findings will provide important insights about 1) the trade-off evaluation between revenue reduction and energy saving with the new ton-mile pattern and 2) how the trade flow shifting would influence the future need for the vessel and fleet size.

Keywords: AIS, automobile exports, maritime big data, trade flows

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Authors: Bangkit Adhi Nugraha, Bambang Suripto

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On September 2016 Bank Indonesia (BI) release regulation no.18/18/PBI/2016 that permit bank clients for using the FX option call spread USD/IDR. Basically, this product is a combination between clients buy FX call option (pay premium) and sell FX call option (receive premium) to protect against currency depreciation while also capping the potential upside with cheap premium cost. BI classifies this product as a structured product. The structured product is combination at least two financial instruments, either derivative or non-derivative instruments. The call spread is the first structured product against IDR permitted by BI since 2009 as response the demand increase from Indonesia firms on FX hedging through derivative for protecting market risk their foreign currency asset or liability. The composition of hedging products on Indonesian FX market increase from 35% on 2015 to 40% on 2016, the majority on swap product (FX forward, FX swap, cross currency swap). Swap is formulated by interest rate difference of the two currency pairs. The cost of swap product is 7% for USD/IDR with one year USD/IDR volatility 13%. That cost level makes swap products seem expensive for hedging buyers. Because call spread cost (around 1.5-3%) cheaper than swap, the most Indonesian firms are using NDF FX call spread USD/IDR on offshore with outstanding amount around 10 billion USD. The cheaper cost of call spread is the main advantage for hedging buyers. The problem arises because BI regulation requires the call spread buyer doing the dynamic hedging. That means, if call spread buyer choose strike price 1 and strike price 2 and volatility USD/IDR exchange rate surpass strike price 2, then the call spread buyer must buy another call spread with strike price 1’ (strike price 1’ = strike price 2) and strike price 2’ (strike price 2’ > strike price 1‘). It could make the premium cost of call spread doubled or even more and dismiss the purpose of hedging buyer to find the cheapest hedging cost. It is very crucial for the buyer to choose best optimum strike price before entering into the transaction. To help hedging buyer find the optimum strike price and avoid expensive multiple premium cost, we observe ten years 2005-2015 historical data of USD/IDR volatility to be compared with the price movement of the call spread USD/IDR using Garman–Kohlhagen Model (as a common formula on FX option pricing). We use statistical tools to analysis data correlation, understand nature of call spread price movement over ten years, and determine factors affecting price movement. We select some range of strike price and tenor and calculate the probability of dynamic hedging to occur and how much it’s cost. We found USD/IDR currency pairs is too uncertain and make dynamic hedging riskier and more expensive. We validated this result using one year data and shown small RMS. The study result could be used to understand nature of FX call spread and determine optimum strike price for hedging plan.

Keywords: FX call spread USD/IDR, USD/IDR volatility statistical analysis, Garman–Kohlhagen Model on FX Option USD/IDR, Bank Indonesia Regulation no.18/18/PBI/2016

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Authors: S. Habte, K. Ouazzane, P. Patel, S. Patel

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The dynamic and highly competitive nature of the consumer electronics retail industry means that businesses in this industry are experiencing different decision making challenges in relation to pricing, inventory control, consumer satisfaction and product offerings. To overcome the challenges facing retailers and create opportunities, we propose a generic data warehousing solution which can be applied to a wide range of consumer electronics retailers with a minimum configuration. The solution includes a dimensional data model, a template SQL script, a high level architectural descriptions, ETL tool developed using C#, a set of APIs, and data access tools. It has been successfully applied by ASK Outlets Ltd UK resulting in improved productivity and enhanced sales growth.

Keywords: consumer electronics, data warehousing, dimensional data model, generic, retail industry

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Authors: Finley Lawson

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The triune nature of God is one of the most complex doctrines of Christianity, and its complexity is further compounded when one considers the incarnation. However, many of the difficulties and paradoxes associated with our idea of the divine arise from our adherence to reductionist ontology. In order to move our theological discourse forward, in respect to divine and human nature, a holistic interpretation of our profession of faith is necessary. The challenge of a holistic interpretation is that it questions our ability to make any statement about the genuine, ontological individuation of persons (both divine and human), and in doing so raises the issue of whether we are, ontologically, bound to descend in to a form of pan(en)theism. In order to address the ‘inevitable’ slide in to pan(en)theism. The impact of two forms of holistic interpretation, Boolean and Non-Boolean, on our concept of personhood will be examined. Whilst a Boolean interpretation allows for a greater understanding of the relational nature of the Trinity, it is the Non-Boolean interpretation which has greater ontological significance. A Non-Boolean ontology, grounded in our scientific understanding of the nature of the world, shows our quest for individuation rests not in ontological fact but in epistemic need, and that it is our limited epistemology that drives our need to divide that which is ontologically indivisible. This discussion takes place within a ‘methodological’, rather than ‘doctrinal’ approach to science and religion - examining assumptions and methods that have shaped our language and beliefs about key doctrines, rather than seeking to reconcile particular Christian doctrines with particular scientific theories. Concluding that Non-Boolean holism is the more significant for our doctrine is, in itself, not enough. A world without division appears much removed from the distinct place of man and divine as espoused in our creedal affirmation, to this end, several possible interpretations for understanding Non-Boolean human – divine relations are tentatively put forward for consideration.

Keywords: holism, individuation, ontology, Trinitarian relations

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