Search results for: pricing rules
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1308

Search results for: pricing rules

1248 Barriers to Competitive Tenders in Building Conservation Works

Authors: Yoke-Mui Lim, Yahaya Ahmad

Abstract:

Conservation works in Malaysia that is procured by public organisation usually follow the traditional approach where the works are tendered based on Bills of Quantities (BQ). One of the purposes of tendering is to enable the selection of a competent contractor that offers a competitive price. While competency of the contractors are assessed by their technical knowledge, experience and track records, the assessment of pricing will be dependent on the tender amount. However, the issue currently faced by the conservation works sector is the difficulty in assessing the competitiveness and reasonableness of the tender amount due to the high variance between the tenders amount. Thus, this paper discusses the factors that cause difficulty to the tenderers in pricing competitively in a bidding exercise for conservation tenders. Data on tendering is collected from interviews with conservation works contractors to gain in-depth understanding of the barriers faced in pricing tenders of conservation works. Findings from the study lent support to the contention that the variance of tender amount is very high amongst tenderers. The factors identified in the survey are the format of BQ, hidden works, experience and labour and material costs.

Keywords: building conservation, Malaysia, bill of quantities, tender

Procedia PDF Downloads 336
1247 Power, Values, Rules and Leader Decision Making: A Discourse Perspective

Authors: Cathryn Robinson, Bernard McKenna, David Rooney

Abstract:

This paper argues that the application of values-based leadership increasingly challenges leaders in rules-based organisations, particularly in bureaucratic organisations such as the military, public service, police, and emergency services. Leaders are grappling to reconcile how to enact values-based leadership and decision-making when they are bound by rules, policies, and procedures. This interpretive study used a multi-faceted vignette (critical incident) as the basis of an interview with air force officers at three levels: executive, senior, and junior. In this way, practice is forced to intersect with discourse. The findings revealed a shared set of discourse themes (legal; rules; safety and risk; operational practice/theatre discourses), but also clear dialectical tensions. These tensions were evident in executive officers and senior leaders emphasizing rules and information themes, whereas junior officers emphasized decision making, collateral, and situation. These findings reveal discourse and practice incommensurability that could have grave implications in the conduct of war.

Keywords: critical incident, discourse analysis, rules-based, values-based

Procedia PDF Downloads 145
1246 Morphological Rules of Bangla Repetition Words for UNL Based Machine Translation

Authors: Nawab Yousuf Ali, S. Golam, A. Ameer, Ashok Toru Roy

Abstract:

This paper develops new morphological rules suitable for Bangla repetition words to be incorporated into an inter lingua representation called Universal Networking Language (UNL). The proposed rules are to be used to combine verb roots and their inflexions to produce words which are then combined with other similar types of words to generate repetition words. This paper outlines the format of morphological rules for different types of repetition words that come from verb roots based on the framework of UNL provided by the UNL centre of the Universal Networking Digital Language (UNDL) foundation.

Keywords: Universal Networking Language (UNL), universal word (UW), head word (HW), Bangla-UNL Dictionary, morphological rule, enconverter (EnCo)

Procedia PDF Downloads 274
1245 Impact of Exogenous Risk Factors into Actual Construction Price in PPP Projects

Authors: Saleh Alzahrani, Halim Boussabaine

Abstract:

Many of Public Private Partnership (PPP) are developed based on a public project is to be awarded to a private party within a one contractual framework. PPP project risks typically include the development and construction of a new asset as well as its operation. Certainly the most severe consequences of risks through the construction period are price and time overruns. These events are among the most generally used situation in value for money analysis risks. The sources of risk change during the time in PPP project. In traditional procurement, the public sector usually has to cover all prices suffering from these risks. At least there is plenty to suggest that price suffering is a norm in some of the projects that are delivered under traditional procurement. This paper will find the impact of exogenous risk factors into actual construction price into PPP projects. The paper will present a brief literature review on PPP risk pricing strategies and then using system dynamics (SD) to analyses of the risks associated with the estimated project price. Based on the finding from these analyses a risk pricing association model is presented and discussed. The paper concludes with thoughts for future research.

Keywords: public private partnership (PPP), risk, risk pricing, system dynamics (SD)

Procedia PDF Downloads 507
1244 Definition of a Computing Independent Model and Rules for Transformation Focused on the Model-View-Controller Architecture

Authors: Vanessa Matias Leite, Jandira Guenka Palma, Flávio Henrique de Oliveira

Abstract:

This paper presents a model-oriented development approach to software development in the Model-View-Controller (MVC) architectural standard. This approach aims to expose a process of extractions of information from the models, in which through rules and syntax defined in this work, assists in the design of the initial model and its future conversions. The proposed paper presents a syntax based on the natural language, according to the rules agreed in the classic grammar of the Portuguese language, added to the rules of conversions generating models that follow the norms of the Object Management Group (OMG) and the Meta-Object Facility MOF.

Keywords: BNF Syntax, model driven architecture, model-view-controller, transformation, UML

Procedia PDF Downloads 354
1243 Understanding Consumption Planning Behaviors

Authors: Gaosheng Ju

Abstract:

Our empirical evidence supports a model of consumption planning behaviors with the following two characteristics. First, households formulate a rational consumption target based on their desired target, displaying a diminishing sensitivity to the discrepancy between them. Second, the established target is a reference point for their planned consumption. The diminishing sensitivity leads to opposite reactions in higher and lower quantiles of both consumption targets and consumption growth to changes in economic conditions. This phenomenon accounts for the perplexingly low correlation between consumption and other macroeconomic variables. Furthermore, the opposing movements of consumption targets offer new insights into consumption-based asset pricing.

Keywords: consumption planning, reference point, diminishing sensitivity, quantile regression, asset pricing puzzles

Procedia PDF Downloads 20
1242 Market Illiquidity and Pricing Errors in the Term Structure of CDS

Authors: Lidia Sanchis-Marco, Antonio Rubia, Pedro Serrano

Abstract:

This paper studies the informational content of pricing errors in the term structure of sovereign CDS spreads. The residuals from a non-arbitrage model are employed to construct a Price discrepancy estimate, or noise measure. The noise estimate is understood as an indicator of market distress and reflects frictions such as illiquidity. Empirically, the noise measure is computed for an extensive panel of CDS spreads. Our results reveal an important fraction of systematic risk is not priced in default swap contracts. When projecting the noise measure onto a set of financial variables, the panel-data estimates show that greater price discrepancies are systematically related to a higher level of offsetting transactions of CDS contracts. This evidence suggests that arbitrage capital flows exit the marketplace during time of distress, and this consistent with a market segmentation among investors and arbitrageurs where professional arbitrageurs are particularly ineffective at bringing prices to their fundamental values during turbulent periods. Our empirical findings are robust for the most common CDS pricing models employed in the industry.

Keywords: credit default swaps, noise measure, illiquidity, capital arbitrage

Procedia PDF Downloads 534
1241 Addressing the Water Shortage in Beijing: Increasing Water Use Efficiency in Domestic Sector

Authors: Chenhong Peng

Abstract:

Beijing, the capital city of China, is running out of water. The water resource per capita in Beijing is only 106 cubic meter, accounts for 5% of the country’s average level and less than 2% of the world average level. The tension between water supply and demand is extremely serious. For one hand, the surface and ground water have been over-exploited during the last decades; for the other hand, water demand keep increasing as the result of population and economic growth. There is a massive gap between water supply and demand. This paper will focus on addressing the water shortage in Beijing city by increasing water use efficiency in domestic sector. First, we will emphasize on the changing structure of water supply and demand in Beijing under the economic development and restructure during the last decade. Second, by analyzing the water use efficiency in agriculture, industry and domestic sectors in Beijing, we identify that the key determinant for addressing the water crisis is to increase the water use efficiency in domestic sector. Third, this article will explore the two primary causes for the water use inefficiency in Beijing: The ineffective water pricing policy and the poor water education and communication policy. Finally, policy recommendation will offered to improve the water use efficiency in domestic sector by making and implementing an effective water pricing policy and people-engaged water education and communication policy.

Keywords: Beijing, water use efficiency, domestic sector, water pricing policy, water education policy

Procedia PDF Downloads 503
1240 Impact of Construction Risk Factors into Actual Construction Price in PPP Projects

Authors: Saleh Alzahrani, Halim Boussabaine

Abstract:

The majority of Public Private Partnership (PPP) are developed based on the rationale that the design, construction, operation, and financing of a public project is to be awarded to a private party within a single contractual framework. PPP project risks normally include the development and construction of a new asset as well as its operation for decades. Undoubtedly the most serious consequences of risks during the construction period are price and time overruns. These events are amongst the most broadly used scenarios in value for money analysis risks. The sources of risk change over the life cycle of a PPP project. In traditional procurement, the public sector normally has to cover all price distress from these risks. At least there is plenty evidence to suggest that price distress is a norm in some of the projects that are delivered under traditional procurement. This paper will find the impact of construction risk factors into actual construction price into PPP projects. The paper will present a brief literature review on PPP risk pricing strategies, and then using system dynamics (SD) to analyses of the risks associated with the estimated project price. Based on the finding from these analyses a risk pricing association model is presented and discussed. The paper concludes with thoughts for future research.

Keywords: Public Private Partnership (PPP), Risk, Risk Pricing, System Dynamics (SD), construction price

Procedia PDF Downloads 525
1239 Cuckoo Search Optimization for Black Scholes Option Pricing

Authors: Manas Shah

Abstract:

Black Scholes option pricing model is one of the most important concepts in modern world of computational finance. However, its practical use can be challenging as one of the input parameters must be estimated; implied volatility of the underlying security. The more precisely these values are estimated, the more accurate their corresponding estimates of theoretical option prices would be. Here, we present a novel model based on Cuckoo Search Optimization (CS) which finds more precise estimates of implied volatility than Particle Swarm Optimization (PSO) and Genetic Algorithm (GA).

Keywords: black scholes model, cuckoo search optimization, particle swarm optimization, genetic algorithm

Procedia PDF Downloads 415
1238 The Use of Electronic Shelf Labels in the Retail Food Sector

Authors: Brent McKenzie, Victoria Taylor

Abstract:

The use of QR (Quick Response Codes) codes for customer scanning with mobile phones is a rapidly growing trend. The QR code can provide the consumer with product information, user guides, product use, competitive pricing, etc. One sector for QR use has been in retail, through the use of Electronic Shelf Labeling (henceforth, ESL). In Europe, the use of ESL for pricing has been in practice for a number of years but continues to lag in acceptance in North America. Stated concerns include costs as a key constraint, but there is also evidence that consumer acceptance represents a limitation as well. The purpose of this study is to present the findings of a consumer based study to gage the impact on their use in the retail food sector.

Keywords: electronic price labels, consumer behaviour, grocery shopping, mixed methods research

Procedia PDF Downloads 296
1237 Impacts of Community Forest on Forest Resources Management and Livelihood Improvement of Local People in Nepal

Authors: Samipraj Mishra

Abstract:

Despite the successful implementation of community forestry program, a number of pros and cons have been raised on Terai community forestry in the case of lowland locally called Terai region of Nepal, which is climatically belongs to tropical humid and possessed high quality forests in terms of ecology and economy. The study aims to investigate the local pricing strategy of forest products and its impacts on equitable forest benefit sharing, collection of community fund and carrying out livelihood improvement activities. The study was carried out on six community forests revealed that local people have substantially benefited from the community forests. However, being the region is heterogeneous by socio-economic conditions and forest resources have higher economical potential, the decision of low pricing strategy made by the local people have created inequality problems while sharing the forest benefits, and poorly contributed to community fund collection and consequently carrying out limited activities of livelihood improvement. The paper argued that the decision of low pricing strategy of forest products is counter-productive to promote the equitable benefit sharing in the areas of heterogeneous socio-economic conditions with high value forests. The low pricing strategy has been increasing accessibility of better off households at higher rate than poor; as such households always have higher affording capacity. It is also defective to increase the community fund and carry out activities of livelihood improvement effectively. The study concluded that unilateral decentralized forest policy and decision-making autonomy to the local people seems questionable unless their decision-making capacities are enriched sufficiently. Therefore, it is recommended that empowerment of decision-making capacity of local people and their respective institutions together with policy and program formulation are prerequisite for efficient and equitable community forest management and its long-term sustainability.

Keywords: community forest, livelihood, socio-economy, pricing system, Nepal

Procedia PDF Downloads 236
1236 Pricing Effects on Equitable Distribution of Forest Products and Livelihood Improvement in Nepalese Community Forestry

Authors: Laxuman Thakuri

Abstract:

Despite the large number of in-depth case studies focused on policy analysis, institutional arrangement, and collective action of common property resource management; how the local institutions take the pricing decision of forest products in community forest management and what kinds of effects produce it, the answers of these questions are largely silent among the policy-makers and researchers alike. The study examined how the local institutions take the pricing decision of forest products in the lowland community forestry of Nepal and how the decisions affect to equitable distribution of benefits and livelihood improvement which are also objectives of Nepalese community forestry. The study assumes that forest products pricing decisions have multiple effects on equitable distribution and livelihood improvement in the areas having heterogeneous socio-economic conditions. The dissertation was carried out at four community forests of lowland, Nepal that has characteristics of high value species, matured-experience of community forest management and better record-keeping system of forest products production, pricing and distribution. The questionnaire survey, individual to group discussions and direct field observation were applied for data collection from the field, and Lorenz curve, gini-coefficient, χ²-text, and SWOT (Strong, Weak, Opportunity, and Threat) analysis were performed for data analysis and results interpretation. The dissertation demonstrates that the low pricing strategy of high-value forest products was supposed crucial to increase the access of socio-economically weak households, and to and control over the important forest products such as timber, but found counter productive as the strategy increased the access of socio-economically better-off households at higher rate. In addition, the strategy contradicts to collect a large-scale community fund and carry out livelihood improvement activities as per the community forestry objectives. The crucial part of the study is despite the fact of low pricing strategy; the timber alone contributed large part of community fund collection. The results revealed close relation between pricing decisions and livelihood objectives. The action research result shows that positive price discrimination can slightly reduce the prevailing inequality and increase the fund. However, it lacks to harness the full price of forest products and collects a large-scale community fund. For broader outcomes of common property resource management in terms of resource sustainability, equity, and livelihood opportunity, the study suggests local institutions to harness the full price of resource products with respect to the local market.

Keywords: community, equitable, forest, livelihood, socioeconomic, Nepal

Procedia PDF Downloads 503
1235 Scaling-Down an Agricultural Waste Biogas Plant Fermenter

Authors: Matheus Pessoa, Matthias Kraume

Abstract:

Scale-Down rules in process engineering help us to improve and develop Industrial scale parameters into lab scale. Several scale-down rules available in the literature like Impeller Power Number, Agitation device Power Input, Substrate Tip Speed, Reynolds Number and Cavern Development were investigated in order to stipulate the rotational speed to operate an 11 L working volume lab-scale bioreactor within industrial process parameters. Herein, xanthan gum was used as a fluid with a representative viscosity of a hypothetical biogas plant, with H/D = 1 and central agitation, fermentation broth using sewage sludge and sugar beet pulp as substrate. The results showed that the cavern development strategy was the best method for establishing a rotational speed for the bioreactor operation, while the other rules presented values out of reality for this article proposes.

Keywords: anaerobic digestion, cavern development, scale down rules, xanthan gum

Procedia PDF Downloads 439
1234 A Multivariate Analysis of Patent Price Variations in the Emerging United States Patent Auction Market: Role of Patent, Seller, and Bundling Related Characteristics

Authors: Pratheeba Subramanian, Anjula Gurtoo, Mary Mathew

Abstract:

Transaction of patents in emerging patent markets is gaining momentum. Pricing patents for a transaction say patent sale remains a challenge. Patents vary in their pricing with some patents fetching higher prices than others. Sale of patents in portfolios further complicates pricing with multiple patents playing a role in pricing a bundle. In this paper, a set of 138 US patents sold individually as single invention lots and 462 US patents sold in bundles of 120 portfolios are investigated to understand the dynamics of selling prices of singletons and portfolios and their determinants. Firstly, price variations when patents are sold individually as singletons and portfolios are studied. Multivariate statistical techniques are used for analysis both at the lot level as well as at the individual patent level. The results show portfolios fetching higher prices than singletons at the lot level. However, at the individual patent level singletons show higher prices than per patent price of individual patent members within the portfolio. Secondly, to understand the price determinants, the effect of patent, seller, and bundling related characteristics on selling prices is studied separately for singletons and portfolios. The results show differences in the set of characteristics determining prices of singletons and portfolios. Selling prices of singletons are found to be dependent on the patent related characteristics, unlike portfolios whose prices are found to be dependent on all three aspects – patent, seller, and bundling. The specific patent, seller and bundling characteristics influencing selling price are discussed along with the implications.

Keywords: auction, patents, portfolio bundling, seller type, selling price, singleton

Procedia PDF Downloads 291
1233 An Approach for Association Rules Ranking

Authors: Rihab Idoudi, Karim Saheb Ettabaa, Basel Solaiman, Kamel Hamrouni

Abstract:

Medical association rules induction is used to discover useful correlations between pertinent concepts from large medical databases. Nevertheless, ARs algorithms produce huge amount of delivered rules and do not guarantee the usefulness and interestingness of the generated knowledge. To overcome this drawback, we propose an ontology based interestingness measure for ARs ranking. According to domain expert, the goal of the use of ARs is to discover implicit relationships between items of different categories such as ‘clinical features and disorders’, ‘clinical features and radiological observations’, etc. That’s to say, the itemsets which are composed of ‘similar’ items are uninteresting. Therefore, the dissimilarity between the rule’s items can be used to judge the interestingness of association rules; the more different are the items, the more interesting the rule is. In this paper, we design a distinct approach for ranking semantically interesting association rules involving the use of an ontology knowledge mining approach. The basic idea is to organize the ontology’s concepts into a hierarchical structure of conceptual clusters of targeted subjects, where each cluster encapsulates ‘similar’ concepts suggesting a specific category of the domain knowledge. The interestingness of association rules is, then, defined as the dissimilarity between corresponding clusters. That is to say, the further are the clusters of the items in the AR, the more interesting the rule is. We apply the method in our domain of interest – mammographic domain- using an existing mammographic ontology called Mammo with the goal of deriving interesting rules from past experiences, to discover implicit relationships between concepts modeling the domain.

Keywords: association rule, conceptual clusters, interestingness measures, ontology knowledge mining, ranking

Procedia PDF Downloads 289
1232 Tourism Potential of Kyrgyzstan and Contribution of Ethics to It's Tourism Growth

Authors: Halil Koch

Abstract:

In this article, besides the current tourism potential of Kyrgyzstan, the factors that may affect the tourism potential of Kyrgyzstan were discussed. Kyrgyzstan is a unique country that can offer quite different alternatives for tourism with its unique nature, lakes, mountains, history, and rich culture. Despite having so many alternatives, today, Kyrgyzstan cannot use this unique wealth as it should. This article tried to deal with matters that can increase the tourism potential of Kyrgyzstan. In addition, the contribution of ethical rules to the tourism potential of Kyrgyzstan was discussed. A detailed literature review was carried out on the tourism industry and tourism potential of Kyrgyzstan. After the literature review, a survey was conducted with the businesses and employees of touristic businesses in the Issyk Kul region of Kyrgyzstan in order to determine the factors that might improve the tourism potential and the effect of ethical rules on the tourism of Kyrgyzstan. 100 people participated in the survey. According to the results of the survey, the participants of the survey think that the culture, touristic richness, and unique nature of Kyrgyzstan are not promoted effectively. Participants think that Kyrgyzstan's tourism capacity will increase with the effective implementation of ethical rules as well as the effective promotion of Kyrgyzstan's cultural and natural wealth. According to the results of the survey, participants think that the tourism sector in Kyrgyzstan will develop rapidly if the ethical rules are followed as much as possible from the first moment that the tourists who come to the country set foot in the country. Participants predict that ethical rules have a tremendous impact on Kyrgyzstan tourism. It has been revealed that there is no systematic approach to ethical rules.

Keywords: tourism, ethics, growth, economy

Procedia PDF Downloads 80
1231 Hedonic Pricing Model of Parboiled Rice

Authors: Roengchai Tansuchat, Wassanai Wattanutchariya, Aree Wiboonpongse

Abstract:

Parboiled rice is one of the most important food grains and classified in cereal and cereal product. In 2015, parboiled rice was traded more than 14.34 % of total rice trade. The major parboiled rice export countries are Thailand and India, while many countries in Africa and the Middle East such as Nigeria, South Africa, United Arab Emirates, and Saudi Arabia, are parboiled rice import countries. In the global rice market, parboiled rice pricing differs from white rice pricing because parboiled rice is semi-processing product, (soaking, steaming and drying) which affects to their color and texture. Therefore, parboiled rice export pricing does not depend only on the trade volume, length of grain, and percentage of broken rice or purity but also depend on their rice seed attributes such as color, whiteness, consistency of color and whiteness, and their texture. In addition, the parboiled rice price may depend on the country of origin, and other attributes, such as certification mark, label, packaging, and sales locations. The objectives of this paper are to study the attributes of parboiled rice sold in different countries and to evaluate the relationship between parboiled rice price in different countries and their attributes by using hedonic pricing model. These results are useful for product development, and marketing strategies development. The 141 samples of parboiled rice were collected from 5 major parboiled rice consumption countries, namely Nigeria, South Africa, Saudi Arabia, United Arab Emirates and Spain. The physicochemical properties and optical properties, namely size and shape of seed, colour (L*, a*, and b*), parboiled rice texture (hardness, adhesiveness, cohesiveness, springiness, gumminess, and chewiness), nutrition (moisture, protein, carbohydrate, fat, and ash), amylose, package, country of origin, label are considered as explanatory variables. The results from parboiled rice analysis revealed that most of samples are classified as long grain and slender. The highest average whiteness value is the parboiled rice sold in South Africa. The amylose value analysis shows that most of parboiled rice is non-glutinous rice, classified in intermediate amylose content range, and the maximum value was found in United Arab Emirates. The hedonic pricing model showed that size and shape are the key factors to determine parboiled rice price statistically significant. In parts of colour, brightness value (L*) and red-green value (a*) are statistically significant, but the yellow-blue value (b*) is insignificant. In addition, the texture attributes that significantly affect to the parboiled rice price are hardness, adhesiveness, cohesiveness, and gumminess. The findings could help both parboiled rice miller, exporter and retailers formulate better production and marketing strategies by focusing on these attributes.

Keywords: hedonic pricing model, optical properties, parboiled rice, physicochemical properties

Procedia PDF Downloads 295
1230 Influence of Power Flow Controller on Energy Transaction Charges in Restructured Power System

Authors: Manisha Dubey, Gaurav Gupta, Anoop Arya

Abstract:

The demand for power supply increases day by day in developing countries like India henceforth demand of reactive power support in the form of ancillary services provider also has been increased. The multi-line and multi-type Flexible alternating current transmission system (FACTS) controllers are playing a vital role to regulate power flow through the transmission line. Unified power flow controller and interline power flow controller can be utilized to control reactive power flow through the transmission line. In a restructured power system, the demand of such controller is being popular due to their inherent capability. The transmission pricing by using reactive power cost allocation through modified matrix methodology has been proposed. The FACTS technologies have quite costly assembly, so it is very useful to apportion the expenses throughout the restructured electricity industry. Therefore, in this work, after embedding the FACTS devices into load flow, the impact on the costs allocated to users in fraction to the transmission framework utilization has been analyzed. From the obtained results, it is clear that the total cost recovery is enhanced towards the Reactive Power flow through the different transmission line for 5 bus test system. The fair pricing policy towards reactive power can be achieved by the proposed method incorporating FACTS controller towards cost recovery of the transmission network.

Keywords: interline power flow controller, transmission pricing, unified power flow controller, cost allocation

Procedia PDF Downloads 110
1229 A Generalization of Option Pricing with Discrete Dividends to Markets with Daily Price Limits

Authors: Jiahau Guo, Yihe Zhang

Abstract:

This paper proposes solutions for pricing options on stocks paying discrete dividends in markets with daily price limits. We first extend the intraday density function of Guo and Chang (2020) to a multi-day one and use the framework of Haug et al. (2003) to value European options on stocks paying discrete dividends. Next, we adopt the fast Fourier transform (FFT) to derive accurate and efficient formulae for American options and further employ the three-point Richardson extrapolation to accelerate the computation. Finally, the accuracy of our proposed methods is verified by simulations.

Keywords: daily price limit, discrete dividend, early exercise, fast Fourier transform, multi-day density function, Richardson extrapolation

Procedia PDF Downloads 126
1228 Software Assessment Using Ant Colony Optimization Algorithm

Authors: Saad M. Darwish

Abstract:

Recently, software quality issues have come to be seen as important subject as we see an enormous growth of agencies involved in software industries. However,these agencies cannot guarantee the quality of their products, thus leaving users in uncertainties. Software certification is the extension of quality by means that quality needs to be measured prior to certification granting process. This research participates in solving the problem of software assessment by proposing a model for assessment and certification of software product that uses a fuzzy inference engine to integrate both of process–driven and application-driven quality assurance strategies. The key idea of the on hand model is to improve the compactness and the interpretability of the model’s fuzzy rules via employing an ant colony optimization algorithm (ACO), which tries to find good rules description by dint of compound rules initially expressed with traditional single rules. The model has been tested by case study and the results have demonstrated feasibility and practicability of the model in a real environment.

Keywords: optimization technique, quality assurance, software certification model, software assessment

Procedia PDF Downloads 451
1227 The Impact of Vertical Product Differentiation on Exchange Rate Pass-Through: An Empirical Investigation of IRON and Steel Industry between Thailand and Vietnam

Authors: Santi Termprasertsakul, Jakkrich Jearviriyaboonya

Abstract:

This paper studies the market power and pricing behavior of products in iron and steel industry by investigating the impact of vertical product differentiation (VPD) on exchange rate pass-through (ERPT). Vietnam has become one of the major trading partners of Thailand since 2017. The iron and steel export value to Vietnam is more than $300 million a year. Particularly, the average growth rate of importing iron and steel is approximately 30% per year. The VPD is applied to analyze the quality difference of iron and steel between Thailand and Vietnam. The 20 products in iron and steel industry are investigated. The monthly pricing behavior of Harmonized Commodity Description and Coding System 4-digit products is observed from 2010 to 2019. The Nonlinear Autoregressive Distributed Lag is also used to analyze the asymmetry of ERPT in this paper. The empirical results basically reveal an incomplete pass-through between Thai Baht and Vietnamese Dong. The ERPT also varies with the degree of VPD. The product with higher VPD, indicating higher unit values, has higher ERPT. This result suggests the higher market power of the Thai iron and steel industry. In addition, the asymmetry of ERPT exists.

Keywords: exchange rate pass-through, iron and steel industry, pricing behavior, vertical product differentiation

Procedia PDF Downloads 105
1226 Fractional-Order PI Controller Tuning Rules for Cascade Control System

Authors: Truong Nguyen Luan Vu, Le Hieu Giang, Le Linh

Abstract:

The fractional–order proportional integral (FOPI) controller tuning rules based on the fractional calculus for the cascade control system are systematically proposed in this paper. Accordingly, the ideal controller is obtained by using internal model control (IMC) approach for both the inner and outer loops, which gives the desired closed-loop responses. On the basis of the fractional calculus, the analytical tuning rules of FOPI controller for the inner loop can be established in the frequency domain. Besides, the outer loop is tuned by using any integer PI/PID controller tuning rules in the literature. The simulation study is considered for the stable process model and the results demonstrate the simplicity, flexibility, and effectiveness of the proposed method for the cascade control system in compared with the other methods.

Keywords: Bode’s ideal transfer function, fractional calculus, fractional–order proportional integral (FOPI) controller, cascade control system

Procedia PDF Downloads 340
1225 Evolving Software Assessment and Certification Models Using Ant Colony Optimization Algorithm

Authors: Saad M. Darwish

Abstract:

Recently, software quality issues have come to be seen as important subject as we see an enormous growth of agencies involved in software industries. However, these agencies cannot guarantee the quality of their products, thus leaving users in uncertainties. Software certification is the extension of quality by means that quality needs to be measured prior to certification granting process. This research participates in solving the problem of software assessment by proposing a model for assessment and certification of software product that uses a fuzzy inference engine to integrate both of process–driven and application-driven quality assurance strategies. The key idea of the on hand model is to improve the compactness and the interpretability of the model’s fuzzy rules via employing an ant colony optimization algorithm (ACO), which tries to find good rules description by dint of compound rules initially expressed with traditional single rules. The model has been tested by case study and the results have demonstrated feasibility and practicability of the model in a real environment.

Keywords: software quality, quality assurance, software certification model, software assessment

Procedia PDF Downloads 486
1224 Clustering of Association Rules of ISIS & Al-Qaeda Based on Similarity Measures

Authors: Tamanna Goyal, Divya Bansal, Sanjeev Sofat

Abstract:

In world-threatening terrorist attacks, where early detection, distinction, and prediction are effective diagnosis techniques and for functionally accurate and precise analysis of terrorism data, there are so many data mining & statistical approaches to assure accuracy. The computational extraction of derived patterns is a non-trivial task which comprises specific domain discovery by means of sophisticated algorithm design and analysis. This paper proposes an approach for similarity extraction by obtaining the useful attributes from the available datasets of terrorist attacks and then applying feature selection technique based on the statistical impurity measures followed by clustering techniques on the basis of similarity measures. On the basis of degree of participation of attributes in the rules, the associative dependencies between the attacks are analyzed. Consequently, to compute the similarity among the discovered rules, we applied a weighted similarity measure. Finally, the rules are grouped by applying using hierarchical clustering. We have applied it to an open source dataset to determine the usability and efficiency of our technique, and a literature search is also accomplished to support the efficiency and accuracy of our results.

Keywords: association rules, clustering, similarity measure, statistical approaches

Procedia PDF Downloads 277
1223 Hybrid Multipath Congestion Control

Authors: Akshit Singhal, Xuan Wang, Zhijun Wang, Hao Che, Hong Jiang

Abstract:

Multiple Path Transmission Control Protocols (MPTCPs) allow flows to explore path diversity to improve the throughput, reliability and network resource utilization. However, the existing solutions may discourage users to adopt the solutions in the face of multipath scenario where different paths are charged based on different pricing structures, e.g., WiFi vs cellular connections, widely available for mobile phones. In this paper, we propose a Hybrid MPTCP (H-MPTCP) with a built-in mechanism to incentivize users to use multiple paths with different pricing structures. In the meantime, H-MPTCP preserves the nice properties enjoyed by the state-of-the-art MPTCP solutions. Extensive real Linux implementation results verify that H-MPTCP can indeed achieve the design objectives.

Keywords: network, TCP, WiFi, cellular, congestion control

Procedia PDF Downloads 652
1222 Credit Risk Evaluation Using Genetic Programming

Authors: Ines Gasmi, Salima Smiti, Makram Soui, Khaled Ghedira

Abstract:

Credit risk is considered as one of the important issues for financial institutions. It provokes great losses for banks. To this objective, numerous methods for credit risk evaluation have been proposed. Many evaluation methods are black box models that cannot adequately reveal information hidden in the data. However, several works have focused on building transparent rules-based models. For credit risk assessment, generated rules must be not only highly accurate, but also highly interpretable. In this paper, we aim to build both, an accurate and transparent credit risk evaluation model which proposes a set of classification rules. In fact, we consider the credit risk evaluation as an optimization problem which uses a genetic programming (GP) algorithm, where the goal is to maximize the accuracy of generated rules. We evaluate our proposed approach on the base of German and Australian credit datasets. We compared our finding with some existing works; the result shows that the proposed GP outperforms the other models.

Keywords: credit risk assessment, rule generation, genetic programming, feature selection

Procedia PDF Downloads 307
1221 The Guideline of Overall Competitive Advantage Promotion with Key Success Paths

Authors: M. F. Wu, F. T. Cheng, C. S. Wu, M. C. Tan

Abstract:

It is a critical time to upgrade technology and increase value added with manufacturing skills developing and management strategies that will highly satisfy the customers need in the precision machinery global market. In recent years, the supply side, each precision machinery manufacturers in each country are facing the pressures of price reducing from the demand side voices that pushes the high-end precision machinery manufacturers adopts low-cost and high-quality strategy to retrieve the market. Because of the trend of the global market, the manufacturers must take price reducing strategies and upgrade technology of low-end machinery for differentiations to consolidate the market. By using six key success factors (KSFs), customer perceived value, customer satisfaction, customer service, product design, product effectiveness and machine structure quality are causal conditions to explore the impact of competitive advantage of the enterprise, such as overall profitability and product pricing power. This research uses key success paths (KSPs) approach and f/s QCA software to explore various combinations of causal relationships, so as to fully understand the performance level of KSFs and business objectives in order to achieve competitive advantage. In this study, the combination of a causal relationships, are called Key Success Paths (KSPs). The key success paths guide the enterprise to achieve the specific outcomes of business. The findings of this study indicate that there are thirteen KSPs to achieve the overall profitability, sixteen KSPs to achieve the product pricing power and seventeen KSPs to achieve both overall profitability and pricing power of the enterprise. The KSPs provide the directions of resources integration and allocation, improve utilization efficiency of limited resources to realize the continuous vision of the enterprise.

Keywords: precision machinery industry, key success factors (KSFs), key success paths (KSPs), overall profitability, product pricing power, competitive advantages

Procedia PDF Downloads 230
1220 Economic Valuation of Environmental Services Sustained by Flamboyant Park in Goiania-Go, Brazil

Authors: Brenda R. Berca, Jessica S. Vieira, Lucas G. Candido, Matheus C. Ferreira, Paulo S. A. Lopes Filho, Rafaella O. Baracho

Abstract:

This study aims to estimate the economic value environmental services sustained by Flamboyant Lourival Louza Municipal Park in Goiânia, Goiás, Brazil. The Flamboyant Park is one of the most relevant urban parks, and it is located near a stadium, a shopping center, and two supercenters. In order to define the methods used for the valuation of Flamboyant Park, the first step was carrying out bibliographical research with the view to better understand which method is most feasible to valuate the Park. Thus, the following direct methods were selected: travel cost, hedonic pricing, and contingent valuation. In addition, an indirect method (replacement cost) was applied at Flamboyant Park. The second step was creating and applying two surveys. The first survey aimed at the visitors of the park, addressing socio-economic issues, the use of the Park, as well as its importance and the willingness the visitors, had to pay for its existence. The second survey was destined to the existing trade in the Park, in order to collect data regarding the profits obtained by them. In the end, the characterization of the profile of the visitors and the application of the methods of contingent valuation, travel cost, replacement cost and hedonic pricing were obtained, thus monetarily valuing the various ecosystem services sustained by the park. Some services were not valued due to difficulties encountered during the process.

Keywords: contingent valuation, ecosystem services, economic environmental valuation, hedonic pricing, travel cost

Procedia PDF Downloads 181
1219 Predicting Options Prices Using Machine Learning

Authors: Krishang Surapaneni

Abstract:

The goal of this project is to determine how to predict important aspects of options, including the ask price. We want to compare different machine learning models to learn the best model and the best hyperparameters for that model for this purpose and data set. Option pricing is a relatively new field, and it can be very complicated and intimidating, especially to inexperienced people, so we want to create a machine learning model that can predict important aspects of an option stock, which can aid in future research. We tested multiple different models and experimented with hyperparameter tuning, trying to find some of the best parameters for a machine-learning model. We tested three different models: a Random Forest Regressor, a linear regressor, and an MLP (multi-layer perceptron) regressor. The most important feature in this experiment is the ask price; this is what we were trying to predict. In the field of stock pricing prediction, there is a large potential for error, so we are unable to determine the accuracy of the models based on if they predict the pricing perfectly. Due to this factor, we determined the accuracy of the model by finding the average percentage difference between the predicted and actual values. We tested the accuracy of the machine learning models by comparing the actual results in the testing data and the predictions made by the models. The linear regression model performed worst, with an average percentage error of 17.46%. The MLP regressor had an average percentage error of 11.45%, and the random forest regressor had an average percentage error of 7.42%

Keywords: finance, linear regression model, machine learning model, neural network, stock price

Procedia PDF Downloads 44