Search results for: optimization strategy

Authors: M. K. Benhaoua, A. K. Singh, A. E. H. Benyamina, A. Kumar, P. Boulet

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In this paper, we propose a new packing strategy to find free resources for run-time mapping of application tasks on NoC-based Heterogeneous MPSoCs. The proposed strategy minimizes the task mapping time in addition to placing the communicating tasks close to each other. To evaluate our approach, a comparative study is carried out. Experiments show that our strategy provides better results when compared to latest dynamic mapping strategies reported in the literature.

Keywords: heterogeneous MPSoCs, NoC, dynamic mapping, routing

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Authors: Xiyang Li, Qi Yu, Lun Zhang

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In the face of natural disasters and other emergency situations, determining the optimal location of rescue centers is crucial for improving rescue efficiency and minimizing impact on affected populations. This paper proposes a method that integrates genetic algorithms (GA) and backpropagation neural networks (BPNN) to address the site selection optimization problem for emergency rescue centers. We utilize BPNN to accurately estimate the cost of delivering supplies from rescue centers to each temporary camp. Moreover, a genetic algorithm with a special partially matched crossover (PMX) strategy is employed to ensure that the number of temporary camps assigned to each rescue center adheres to predetermined limits. Using the population distribution data during the 2022 epidemic in Jiading District, Shanghai, as an experimental case, this paper verifies the effectiveness of the proposed method. The experimental results demonstrate that the BPNN-GA method proposed in this study outperforms existing algorithms in terms of computational efficiency and optimization performance. Especially considering the requirements for computational resources and response time in emergency situations, the proposed method shows its ability to achieve rapid convergence and optimal performance in the early and mid-stages. Future research could explore incorporating more real-world conditions and variables into the model to further improve its accuracy and applicability.

Keywords: emergency rescue centers, genetic algorithms, back-propagation neural networks, site selection optimization

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Authors: Ken Hampshire, Thomas Mazzuchi, Shahram Sarkani

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As a subset of metaheuristics, nature-inspired optimization algorithms such as particle swarm optimization (PSO) have shown promise both in solving intractable problems and in their extensibility to novel problem formulations due to their general approach requiring few assumptions. Unfortunately, single instantiations of algorithms require detailed tuning of parameters and cannot be proven to be best suited to a particular illustrative problem on account of the “no free lunch” (NFL) theorem. Using these algorithms in real-world problems requires exquisite knowledge of the many techniques and is not conducive to reconciling the various approaches to given classes of problems. This research aims to present a unified view of PSO-based approaches from the perspective of relevant systems engineering problems, with the express purpose of then eliciting the best solution for any problem formulation in an ensemble learning bucket of models approach. The central hypothesis of the research is that extending the PSO algorithms found in the literature to real-world optimization problems requires a general ensemble-based method for all problem formulations but a specific implementation and solution for any instance. The main results are a problem-based literature survey and a general method to find more globally optimal solutions for any systems engineering optimization problem.

Keywords: particle swarm optimization, nature-inspired optimization, metaheuristics, systems engineering, ensemble learning

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Authors: Benmoussa Dennai, H. Benslimane, A. Helmaoui

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Photovoltaic conversion is the direct conversion of electromagnetic energy into electrical energy continuously. This electromagnetic energy is the most solar radiation. In this work we performed a computer modelling using AMPS 1D optimization of hetero-junction solar cells GaInP / GaAs configuration for p / n. We studied the influence of the thickness the base layer in the cell offers on the open circuit voltage, the short circuit current and efficiency.

Keywords: optimization, photovoltaic cell, GaInP / GaAs AMPS-1D, hetetro-junction

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Authors: Ho-Jun Jo, Wook-Won Kim, Yong-Sung Kim, Jin-O Kim

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The application of ESS (Energy Storage Systems) in the future grids has been the solution of the microgrid. However, high investment costs necessitate accurate modeling and control strategy of ESS to justify its economic viability and further underutilization. Therefore, the reasonable control strategy for ESS which is subjected to generator and usage helps to curtail the cost of investment and operation costs. The rated frequency in power system is decreased when the load is increasing unexpectedly; hence the thermal power is operated at the capacity of only its 95% for the Governor Free (GF) to adjust the frequency as reserve (5%) in practice. The ESS can be utilized with governor at the same time for the frequency response due to characteristic of its fast response speed and moreover, the cost of ESS is declined rapidly to the reasonable price. This paper presents the ESS control strategy to extend usage of the ESS taken account into governor’s ramp rate and reduce the governor’s intervention as well. All results in this paper are simulated by MATLAB.

Keywords: micro grid, energy storage systems, ramp rate, control strategy

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Authors: Benalia Nadia, Zerzouri Nora, Ben Si Ali Nadia

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Abstract: Among the many different modern heuristic optimization methods, genetic algorithms (GA) and the particle swarm optimization (PSO) technique have been attracting a lot of interest. The GA has gained popularity in academia and business mostly because to its simplicity, ability to solve highly nonlinear mixed integer optimization problems that are typical of complex engineering systems, and intuitiveness. The mechanics of the PSO methodology, a relatively recent heuristic search tool, are modeled after the swarming or cooperative behavior of biological groups. It is suitable to compare the performance of the two techniques since they both aim to solve a particular objective function but make use of distinct computing methods. In this article, PSO and GA optimization approaches are used for the parameter tuning of the power system stabilizer and Proportional integral derivative regulator. Load angle and rotor speed variations in the single machine infinite bus bar system is used to measure the performance of the suggested solution.

Keywords: SMIB, genetic algorithm, PSO, transient stability, power system stabilizer, PID

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Authors: Mahmoud Nadir, Adel Ghenaiet

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The main purpose of this study is the thermodynamic modeling, the parametric analysis, and the optimization of three pressure level reheat HRSG (Heat Recovery Steam Generator) using PSO method (Particle Swarm Optimization). In this paper, a parametric analysis followed by a thermodynamic optimization is presented. The chosen objective function is the specific work of the steam cycle that may be, in the case of combined cycle (CC), a good criterion of thermodynamic performance analysis, contrary to the conventional steam turbines in which the thermal efficiency could be also an important criterion. The technologic constraints such as maximal steam cycle temperature, minimal steam fraction at steam turbine outlet, maximal steam pressure, minimal stack temperature, minimal pinch point, and maximal superheater effectiveness are also considered. The parametric analyses permitted to understand the effect of design parameters and the constraints on steam cycle specific work variation. PSO algorithm was used successfully in HRSG optimization, knowing that the achieved results are in accordance with those of the previous studies in which genetic algorithms were used. Moreover, this method is easy to implement comparing with the other methods.

Keywords: combined cycle, HRSG thermodynamic modeling, optimization, PSO, steam cycle specific work

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Authors: Ju-Hong Lee, Ding-Chen Chung

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The paper deals with the optimal design of two-channel linear-phase (LP) quadrature mirror filter (QMF) banks using a metaheuristic based optimization technique. Based on the theory of two-channel QMF banks using two recursive digital all-pass filters (DAFs), the design problem is appropriately formulated to result in an objective function which is a weighted sum of the group delay error of the designed QMF bank and the magnitude response error of the designed low-pass analysis filter. Through a frequency sampling and a weighted least squares approach, the optimization problem of the objective function can be solved by utilizing a particle swarm optimization algorithm. The resulting two-channel QMF banks can possess approximately LP response without magnitude distortion. Simulation results are presented for illustration and comparison.

Keywords: quadrature mirror filter bank, digital all-pass filter, weighted least squares algorithm, particle swarm optimization

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Authors: Vincenzo Capalbo, Gianpaolo Ghiani, Emanuele Manni

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Global e-commerce sales have reached unprecedented levels in the past few years. As this trend is only predicted to go up as we continue into the ’20s, new challenges will be faced by companies when planning and controlling e-commerce logistics. In this paper, we survey the related literature on Optimization and Machine Learning as well as on combined methodologies. We also identify the distinctive features of next-generation planning algorithms - namely scalability, model-and-run features and learning capabilities - that will be fundamental to cope with the scale and complexity of logistics in the next decade.

Keywords: e-commerce, hardware acceleration, logistics, machine learning, mixed integer programming, optimization

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Authors: Sanjivrao Katakam, Thanumoorthi I., Antony Gerald, Ratan Kulkarni, Shaju Nair

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With increasing energy costs and its impact on the business, sustainability today has evolved from a social expectation to an economic imperative. Therefore, finding methods to reduce cost has become a critical directive for Industry leaders. Effective energy management is the only way to cut costs. However, Energy Management has been a challenge because it requires a change in old habits and legacy systems followed for decades. Today exorbitant levels of energy and operational data is being captured and stored by Industries, but they are unable to convert these structured and unstructured data sets into meaningful business intelligence. It must be noted that for quick decisions, organizations must learn to cope with large volumes of operational data in different formats. Energy analytics not only helps in extracting inferences from these data sets, but also is instrumental in transformation from old approaches of energy management to new. This in turn assists in effective decision making for implementation. It is the requirement of organizations to have an established corporate strategy for reducing operational costs through visibility and optimization of energy usage. Energy analytics play a key role in optimization of operations. The paper describes how today energy data analytics is extensively used in different scenarios like reducing operational costs, predicting energy demands, optimizing network efficiency, asset maintenance, improving customer insights and device data insights. The paper also highlights how analytics helps transform insights obtained from energy data into sustainable solutions. The paper utilizes data from an array of segments such as retail, transportation, and water sectors.

Keywords: energy analytics, energy management, operational data, business intelligence, optimization

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Authors: Liping Yang, Curran Crawford, Jr. Ren, Zhengyi Ren

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Considering the cost evaluation and the stress analysis, a fuzzy satisfactory optimization (FSO) method has been developed for a hybrid composite flywheel. To evaluate the cost, the cost coefficients of the flywheel components are obtained through calculating the weighted sum of the scores of the material manufacturability, the structure character, and the material price. To express the satisfactory degree of the energy, the cost, and the mass, the satisfactory functions are proposed by using the decline function and introducing a satisfactory coefficient. To imply the different significance of the objectives, the object weight coefficients are defined. Based on the stress analysis of composite material, the circumferential and radial stresses are considered into the optimization formulation. The simulations of the FSO method with different weight coefficients and storage energy density optimization (SEDO) method of a flywheel are contrasted. The analysis results show that the FSO method can satisfy different requirements of the designer and the FSO method with suitable weight coefficients can replace the SEDO method.

Keywords: flywheel energy storage, fuzzy, optimization, stress analysis

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Authors: Fábio A. S. Mota, Mauro A. S. S. Ravagnani, E. P. Carvalho

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In the present paper the design of plate heat exchangers is formulated as an optimization problem considering two mathematical modeling. The number of plates is the objective function to be minimized, considering implicitly some parameters configuration. Screening is the optimization method used to solve the problem. Thermal and hydraulic constraints are verified, not viable solutions are discarded and the method searches for the convergence to the optimum, case it exists. A case study is presented to test the applicability of the developed algorithm. Results show coherency with the literature.

Keywords: plate heat exchanger, optimization, modeling, simulation

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Authors: I. O. Nascimento, J. T. Manzi

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The drying process is an important operation in the chemical industry and it is widely used in the food, grain industry and fertilizer industry. However, for demanding a considerable consumption of energy, such a process requires a deep energetic analysis in order to reduce operating costs. This paper deals with thermodynamic optimization applied to rotary dryers based on the entropy production minimization, aiming at to reduce the energy consumption. To do this, the mass, energy and entropy balance was used for developing a relationship that represents the rate of entropy production. The use of the Second Law of Thermodynamics is essential because it takes into account constraints of nature. Since the entropy production rate is minimized, optimals conditions of operations can be established and the process can obtain a substantial gain in energy saving. The minimization strategy had been led using classical methods such as Lagrange multipliers and implemented in the MATLAB platform. As expected, the preliminary results reveal a significant energy saving by the application of the optimal parameters found by the procedure of the entropy minimization It is important to say that this method has shown easy implementation and low cost.

Keywords: thermodynamic optimization, drying, entropy minimization, modeling dryers

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Authors: Jarunee Wonglimpiyarat

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This paper explores the innovation management strategy of Thailand in moving towards the Detroit of Asia. The study analyses Thailand’s automotive cluster based on Porter’s Diamond Model and national innovation system (NIS) framework. A qualitative methodology was carried out, using semi-structured interviews with the players in the Thai automotive industry. Thailand took a different NIS approach by pursuing an Original Equipment Manufacture (OEM) strategy to attract foreign investments in building its automotive cluster, a different path from other Asian countries that competed with Own Brand Manufacture (OBM) strategies. The findings provide useful lessons for other newly industrialized countries (NICs) in adopting the cluster policies to move up the technological ladders.

Keywords: innovation management strategy, national innovation system (NIS), Detroit of Asia, original equipment manufacturer (OEM)

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Authors: S. K. Ashiquer Rahman

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The paper concentrates on the importance of Sustainable Campus Strategies, emphasizing the significance of mobilizing Innovative technological tools for constructing effectiveness of higher education strategy and institutional cooperation for sustainable campus at the university level and preparing the university’s authority to face the upcoming higher education strategy and institutional cooperation difficulties to the Sustainable Campus Plan. Within a framework of Sustainable Campus Strategies and institutional cooperation, the paper discusses the significance of a set of reference points that will lead to operational activities for multi-stakeholder multi-criteria evaluation of Higher Education and Research Institutions relative to the Sustainable Campus criteria and potential action plan for the University’s Strategy and Institutional Cooperation. It makes mention of the emergence of the effectiveness of Higher Education Strategy and Institutional Cooperation as well as the necessity of mobilizing innovative technological methods and tools for constructing the effectiveness of this Process. The paper outlines the conceptual framing of a Sustainable Campus Strategy, Institutional Cooperation and Action Plan for a sustainable campus. Optimistically, these will be a milestone in higher education, a pathway to meet the imminent Sustainable Campus Strategy and Institutional Cooperation of the completive world, and be able to manage the required criteria for a Sustainable University.

Keywords: higher education strategy, institutional cooperation, sustainable campus, multi-criteria evaluation, innovative method and tools

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Authors: Min Dai, Hong Liu, Shuaijie Qian

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We study a portfolio selection problem of an investor who faces constraints on rebalancing frequency, which is common in pension fund investment. We formulate it as a multiple optimal stopping problem and utilize the dynamic programming principle. By numerically solving the corresponding Hamilton-Jacobi-Bellman (HJB) equation, we find a series of free boundaries characterizing optimal strategy, and the constraints significantly impact the optimal strategy. Even in the absence of transaction costs, there is a no-trading region, depending on the number of the remaining trading chances. We also find that the equivalent wealth loss caused by the constraints is large. In conclusion, our model clarifies the impact of the constraints on transaction frequency on the optimal strategy.

Keywords: portfolio selection, rebalancing frequency, optimal strategy, free boundary, optimal stopping

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Authors: Hassan Naseh, Javad Roozgard

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This paper represents the methodology based on Artificial Intelligent (AI) applied to Liquid Propellant Engine (LPE) optimization. The AI methodology utilized from Adaptive neural Fuzzy Inference System (ANFIS). In this methodology, the optimum objective function means to achieve maximum performance (specific impulse). The independent design variables in ANFIS modeling are combustion chamber pressure and temperature and oxidizer to fuel ratio and output of this modeling are specific impulse that can be applied with other objective functions in LPE design optimization. To this end, the LPE’s parameter has been modeled in ANFIS methodology based on generating fuzzy inference system structure by using grid partitioning, subtractive clustering and Fuzzy C-Means (FCM) clustering for both inferences (Mamdani and Sugeno) and various types of membership functions. The final comparing optimization results shown accuracy and processing run time of the Gaussian ANFIS Methodology between all methods.

Keywords: ANFIS methodology, artificial intelligent, liquid propellant engine, optimization

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Authors: Guettal Djaouida, Ziadi Abdelkader

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In this paper, we study a coupling of the Alienor method with the algorithm of Piyavskii-Shubert. The classical multidimensional global optimization methods involves great difficulties for their implementation to high dimensions. The Alienor method allows to transform a multivariable function into a function of a single variable for which it is possible to use efficient and rapid method for calculating the the global optimum. This simplification is based on the using of a reducing transformation called Alienor.

Keywords: global optimization, reducing transformation, α-dense curves, Alienor method, Piyavskii-Shubert algorithm

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Authors: Amir Aziz, Martin Tuner, Sebastian Verhelst, Oivind Andersson

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Partially Premixed Combustion (PPC) is a combustion concept which aims to simultaneously achieve high efficiency and low engine-out emissions. Extending the ignition delay to promote the premixing, has been recognized as one of the key factor to achieve PPC. Fuels with high octane number have been proven to be a good candidates to extend the ignition delay. In this work, E85 (85% ethanol) has been used as a PPC fuel. The aim of this work was to investigate a suitable injection strategy for PPC combustion fueled with E85 in a single-cylinder heavy-duty engine. Single and double injection strategy were applied with different injection timing and the ratio between different injection pulses was varied. The performance and emission were investigated at low load. The results show that the double injection strategy should be preferred for PPC fueled with E85 due to low emissions and high efficiency, while keeping the pressure raise rate at very low levels.

Keywords: E85, partially premixed combustion, injection strategy, performance and emission

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Authors: Mohamed Belhorma, Aboubakar S. Bouchikhi, Belkacem Bounab

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This paper addresses modeling a Double A-Arm suspension, a three-dimensional nonlinear model has been developed using the multibody systems formalism. Dynamical study of the different components responses was done, particularly for the wheel assembly. To validate those results, the system was constructed and simulated by RecurDyn, a professional multibody dynamics simulation software. The model has been used as the Objectif function in an optimization algorithm for ride quality improvement.

Keywords: double A-Arm suspension, multibody systems, ride quality optimization, dynamic simulation

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Authors: Akshay Paranjape, Nils Plettenberg, Robert Schmitt

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Traditional optimization methods like evolutionary algorithms are widely used in production processes to find an optimal or near-optimal solution of control parameters based on the simulated environment space of a process. These algorithms are computationally intensive and therefore do not provide the opportunity for real-time optimization. This paper utilizes the Deep Reinforcement Learning (DRL) framework to find an optimal or near-optimal solution for control parameters. A model based on maximum a posteriori policy optimization (Hybrid-MPO) that can handle both numerical and categorical parameters is used as a benchmark for comparison. A comparative study shows that DRL can find optimal solutions of similar quality as compared to evolutionary algorithms while requiring significantly less time making them preferable for real-time optimization. The results are confirmed in a large-scale validation study on datasets from production and other fields. A trained XGBoost model is used as a surrogate for process simulation. Finally, multiple ways to improve the model are discussed.

Keywords: reinforcement learning, evolutionary algorithms, production process optimization, real-time optimization, hybrid-MPO

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Authors: Hadi Adibi-Asl, Alireza Doosthosseini, Amir Taghavipour

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This paper studies the design of an adaptive control strategy to tune an active steering system for better drivability and maneuverability. In the first step, adaptive control strategy is applied to estimate the uncertain parameters on-line (e.g. cornering stiffness), then the estimated parameters are fed into the pole placement controller to generate corrective feedback gain to improve the steering system dynamic’s characteristics. The simulations are evaluated for three types of road conditions (dry, wet, and icy), and the performance of the adaptive pole placement control (APPC) are compared with pole placement control (PPC) and a passive system. The results show that the APPC strategy significantly improves the yaw rate and side slip angle of a bicycle plant model.

Keywords: adaptive control, active steering, pole placement, vehicle dynamics

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Authors: Zeinab Haji Abolhasani, Romeo Marian, Lee Luong

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This paper and its companions (Part II, Part III) will concentrate on optimizing a class of supply chain problems known as Multi- Commodities Consumer Supply Chain (MCCSC) problem. MCCSC problem belongs to production-distribution (P-D) planning category. It aims to determine facilities location, consumers’ allocation, and facilities configuration to minimize total cost (CT) of the entire network. These facilities can be manufacturer units (MUs), distribution centres (DCs), and retailers/end-users (REs) but not limited to them. To address this problem, three major tasks should be undertaken. At the first place, a mixed integer non-linear programming (MINP) mathematical model is developed. Then, system’s behaviors under different conditions will be observed using a simulation modeling tool. Finally, the most optimum solution (minimum CT) of the system will be obtained using a multi-objective optimization technique. Due to the large size of the problem, and the uncertainties in finding the most optimum solution, integration of modeling and simulation methodologies is proposed followed by developing new approach known as GASG. It is a genetic algorithm on the basis of granular simulation which is the subject of the methodology of this research. In part II, MCCSC is simulated using discrete-event simulation (DES) device within an integrated environment of SimEvents and Simulink of MATLAB® software package followed by a comprehensive case study to examine the given strategy. Also, the effect of genetic operators on the obtained optimal/near optimal solution by the simulation model will be discussed in part III.

Keywords: supply chain, genetic algorithm, optimization, simulation, discrete event system

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Authors: Saeed Ur Rahman, Naveed Ullah, Muhammad Irshad Khan, Quensheng Cao, Niaz Muhammad Khan

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In this paper the optimization performance of non-uniform linear antenna array is presented. The Particle Swarm Optimization (PSO) algorithm is presented to minimize Side Lobe Level (SLL) and Half Power Beamwidth (HPBW). The purpose of using the PSO algorithm is to get the optimum values for inter-element spacing and excitation amplitude of linear antenna array that provides a radiation pattern with minimum SLL and HPBW. Various design examples are considered and the obtain results using PSO are confirmed by comparing with results achieved using other nature inspired metaheuristic algorithms such as real coded genetic algorithm (RGA) and biogeography (BBO) algorithm. The comparative results show that optimization of linear antenna array using the PSO provides considerable enhancement in the SLL and HPBW.

Keywords: linear antenna array, minimum side lobe level, narrow half power beamwidth, particle swarm optimization

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Authors: Riddhi Shah

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Centre-state relations in India are a fascinating area of studies. The structure of the relationship has an effect on every single aspect of life as we know it in India. This paper is an attempt to study centre-state relations in the context of India’s maritime counter-terrorism strategy. Although the Government of India has not publicly stated its counter-terrorism strategy on the sea; intelligence, information sharing, crisis response, finances for internal security and the nation’s legislation for battling terrorism together comprise of India’s maritime-terrorism strategy. Through study of these areas, the paper argues that the centre-state divide has had systemic implications on India’s maritime security and has largely done more harm than good to collective initiatives that aspire to prevent future risk of terrorism from the sea or on the sea.

Keywords: counter-terrorism, maritime terrorism, India, federalism, centre-state relations

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Authors: Lindie Grebe

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This paper reports on a study that explored the strategizing practices of professional accountants in the mining industry, based on Jarratt and Stiles’ dominant strategizing practice models framework. Drawing on a strategy-as-practice perspective, the paper recognises qualified professional accountants in strategic management such as Chief Executive Officers, as strategy practitioners that perform their strategizing practices and praxis within a specific context. The main findings of this paper were produced through semi-structured individual interviews with accountants that perform strategy on a business level in the South African mining industry. Qualitative data were analysed through conversation analysis over two coding-cycles. Findings describe accountant strategists as practitioners who challenge the dominant business model when a disconnect seems to exist between international corporate level strategy and business level strategy in the South African mining industry. Accountant strategy practitioners described their dominant strategizing practice model as incremental change during strategic planning and as a lived experience during strategy implementation. Findings portrayed these strategists as taking initiative as strategy leaders in a dynamic and volatile environment to combine their accounting background with strategic management and challenge the dominant business model. Understanding how accountant strategists perform strategizing offers insight into the social practice of strategic management. This understanding contributes to the body of knowledge on strategizing in the South African mining industry. In addition, knowledge on the transformation of accountants as strategists could provide valuable practice relevant insights for accounting educators and the accounting profession alike.

Keywords: accountant strategists, dominant strategizing practice models framework, mining industry, strategy-as-practice

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Authors: Chao Jen-Chih, Kuo-Wei Hsu

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Many venues and spaces in cities gradually become old and decayed as time goes by and develops. Urban regeneration is the critical strategy to promote local development, but the method of spatial reconstruction which is emphasized in the issue of urban regeneration is questioned for bringing cultural, social and economic impacts on old city areas. The idea of “Urban Regeneration Station (URS)” is proposed for Taipei City Government to introduce the entry and disturbance of communities and related groups with the concept of creative city. This study explored how an URS promotes local development again through the strength of communities and the energy of local residence community, and it established the Platform Strategy for URS. The research results are as follows: URS through the promotion of government agencies, experts, scholars and the third sector, to the selection of different types of units stationed in business, through exhibitions, seminars, and other activities to explore local development issues, vetting each stationed execution efficiency units, and different units stationed by URS establish URS overall network platform strategy.

Keywords: urban regeneration, platform strategy, creative city, Taipei city

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Authors: Yun Zuo, Wenju Li

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Shenzhen is one of China’s gates to the world. What was once a fishing village is now a metropolis of more than 10 million people. Because of its unprecedented pace of development, it also brings a serious of issues, such as the self-renewal of the city. In the paper, we use Sungang-Quingshuihe(SQ) as an example. SQ is one of the oldest districts in the east of Shenzhen. Nowadays, SQ faces many challenges. This is because once the logistics area has been slowly disappear, the new identity will be replaced. As a result, we are to minimize damages to the city in transforming process by seeking for a new design strategy. In the meantime, we think that each district in a city has its own role forming the whole city together. Therefore, a district transformation is functionally-oriented and for improving city quality in focus.

Keywords: old district, renewal strategy, public space, sustainable development

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Authors: Maria Debora Braga, Luigi Riso, Maria Grazia Zoia

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Risk-based approaches to asset allocation are portfolio construction methods that do not rely on the input of expected returns for the asset classes in the investment universe and only use risk information. They include the Minimum Variance Strategy (MV strategy), the traditional (volatility-based) Risk Parity Strategy (SRP strategy), the Most Diversified Portfolio Strategy (MDP strategy) and, for many, the Equally Weighted Strategy (EW strategy). All the mentioned approaches were based on portfolio volatility as a reference risk measure but in 2023, the Kurtosis-based Risk Parity strategy (KRP strategy) and the Minimum Kurtosis strategy (MK strategy) were introduced. Understandably, they used the fourth root of the portfolio-fourth moment as a proxy for portfolio kurtosis to work with a homogeneous function of degree one. This paper contributes mainly theoretically and methodologically to the framework of risk-based asset allocation approaches with two steps forward. First, a new and more flexible objective function considering a linear combination (with positive coefficients that sum to one) of portfolio volatility and portfolio kurtosis is used to alternatively serve a risk minimization goal or a homogeneous risk distribution goal. Hence, the new basic idea consists in extending the achievement of typical risk-based approaches’ goals to a combined risk measure. To give the rationale behind operating with such a risk measure, it is worth remembering that volatility and kurtosis are expressions of uncertainty, to be read as dispersion of returns around the mean and that both preserve adherence to a symmetric framework and consideration for the entire returns distribution as well, but also that they differ from each other in that the former captures the “normal” / “ordinary” dispersion of returns, while the latter is able to catch the huge dispersion. Therefore, the combined risk metric that uses two individual metrics focused on the same phenomena but differently sensitive to its intensity allows the asset manager to express, in the context of an objective function by varying the “relevance coefficient” associated with the individual metrics, alternatively, a wide set of plausible investment goals for the portfolio construction process while serving investors differently concerned with tail risk and traditional risk. Since this is the first study that also implements risk-based approaches using a combined risk measure, it becomes of fundamental importance to investigate the portfolio effects triggered by this innovation. The paper also offers a second contribution. Until the recent advent of the MK strategy and the KRP strategy, efforts to highlight interesting properties of risk-based approaches were inevitably directed towards the traditional MV strategy and SRP strategy. Previous literature established an increasing order in terms of portfolio volatility, starting from the MV strategy, through the SRP strategy, arriving at the EQ strategy and provided the mathematical proof for the “equalization effect” concerning marginal risks when the MV strategy is considered, and concerning risk contributions when the SRP strategy is considered. Regarding the validity of similar conclusions when referring to the MK strategy and KRP strategy, the development of a theoretical demonstration is still pending. This paper fills this gap.

Keywords: risk parity, portfolio kurtosis, risk diversification, asset allocation

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Authors: K. K. Lee, H. W. Han, H. L. Kang, T. A. Kim, S. H. Han

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For the robust optimization of the manufacturing product design, there are design objectives that must be achieved, such as a minimization of the mean and standard deviation in objective functions within the required sensitivity constraints. The authors utilized the sensitivity of objective functions and constraints with respect to the effective design variables to reduce the computational burden associated with the evaluation of the probabilities. The individual mean and sensitivity values could be estimated easily by using the 9 level orthogonal array based response surface models optimized by the stepwise regression. The present study evaluates a proposed procedure from the robust optimization of rubber domes that are commonly used for keyboard switching, by using the 9 level orthogonal array and stepwise regression along with a desirability function. In addition, a new robust optimization process, i.e., the I2GEO (Identify, Integrate, Generate, Explore and Optimize), was proposed on the basis of the robust optimization in rubber domes. The optimized results from the response surface models and the estimated results by using the finite element analysis were consistent within a small margin of error. The standard deviation of objective function is decreasing 54.17% with suggested sensitivity based robust optimization. (Business for Cooperative R&D between Industry, Academy, and Research Institute funded Korea Small and Medium Business Administration in 2017, S2455569)

Keywords: objective function, orthogonal array, response surface model, robust optimization, stepwise regression

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