Search results for: proportional transaction costs

Authors: Havisha Banda

Abstract:

Recent advancements in technology have facilitated commerce around the globe. The online medium of commerce has provided and will continue to provide great opportunities for consumers and businesses. Advancements in technology enable apparel stores, for instance, to improve their online services by using personalized virtual models allowing consumers to visualize the product on the model to determine correct sizing and fit. In addition to many advantages in online shopping the consumers will also have to undergo many types of switching costs in this process of buying apparel online. This study is to identify such switching costs and switching benefits from traditional shopping to online shopping and to understand what the consumers value the most. The scope of this study is to understand the types of switching costs and the factors that actually allow the consumers to shift from brick and mortar to online shopping and also to understand why a certain set of customers consider to purchase offline. Hence this study helps to understand the perceived cost and perceived benefit relation that the consumer draws in purchasing the garments online. This will help the upcoming e-commerce sites and brick and mortar store to understand the various factors and formulate new policies and implement strategies in their own ways to attract the customers and to retain them. A sample of 35 is considered for the process of laddered interviews. In the era of e-commerce there are people who feel comfortable to shop in a retail store rather than online purchase. Few respondents who shop online do not prefer to shop apparel online. Few respondents said that they shop online only for apparels. Most of the variables match in terms of switching costs and also in regard to benefits.

Keywords: e-commerce, switching costs, switching benefits, apparel shopping

Procedia PDF Downloads 287

Authors: Marc S. Paolella, Pawel Polak

Abstract:

The paper proposes a framework for large-scale portfolio optimization which accounts for all the major stylized facts of multivariate financial returns, including volatility clustering, dynamics in the dependency structure, asymmetry, heavy tails, and non-ellipticity. It introduces a so-called risk fear portfolio strategy which combines portfolio optimization with active risk monitoring. The former selects optimal portfolio weights. The latter, independently, initiates market exit in case of excessive risks. The strategy agrees with the stylized fact of stock market major sell-offs during the initial stage of market downturns. The advantages of the new framework are illustrated with an extensive empirical study. It leads to superior multivariate density and Value-at-Risk forecasting, and better portfolio performance. The proposed risk fear portfolio strategy outperforms various competing types of optimal portfolios, even in the presence of conservative transaction costs and frequent rebalancing. The risk monitoring of the optimal portfolio can serve as an early warning system against large market risks. In particular, the new strategy avoids all the losses during the 2008 financial crisis, and it profits from the subsequent market recovery.

Keywords: comfort, financial crises, portfolio optimization, risk monitoring

Procedia PDF Downloads 490

Authors: Rodrigo Buaiz Boabaid

Abstract:

Tokenization of Blue Bonds is an emerging Green Finance tool that has the potential to scale Blue Carbon Projects to fight climate change. This innovative solution has a huge potential to democratize the green finance market and catalyze innovations in the climate change finance sector. Switzerland has emerged as a leader in the Green Finance space and is well-positioned to drive the adoption of Tokenization of Blue & Green Bonds. This unique approach has the potential to unlock new sources of capital and enable global investors to participate in the financing of sustainable blue carbon projects. By leveraging the power of blockchain technology, Tokenization of Blue Bonds can provide greater transparency, efficiency, and security in the investment process while also reducing transaction costs. Investments are in line with the highest regulations and designed according to the stringent legal framework and compliance standards set by Switzerland. The potential benefits of Tokenization of Blue Bonds are significant and could transform the way that sustainable projects are financed. By unlocking new sources of capital, this approach has the potential to accelerate the deployment of Blue Carbon projects and create new opportunities for investors to participate in the fight against climate change.

Keywords: blue bonds, blue carbon, tokenization, green finance

Procedia PDF Downloads 56

Authors: Ossama Al-Maliki

Abstract:

Europay, MasterCard, and Visa (EMV) is one of the most popular payment protocol in the world. The EMV protocol supports Chip and PIN Transactions, Chip and Signature transactions, and Contactless transactions. This protocol suffers from tens of £ millions of lost per year due to many fraudulent payments. This is due to several reported vulnerable points in the protocols used for such payments that allow skimming, replay, cloning, Mole Point of Sale (POS), relay, and other attacks to be conducted. In this paper, we are focusing on the EMV contactless specification and we have proposed two proposal solutions to the addition of a localization factor to enhance the payment authentication of such transactions designed to prevent relay, cloning, and Mole-POS attacks. Our proposed solution is a back-end localization scheme to help the Issuer-Bank compare the location of the genuine cardholder in relation to the used POS. Our scheme uses 'something you have' which is the Cardholder Smartphone (CSP) to provide the location of the cardholder at the time of the transaction and without impacting the contactless payment time/protocol. The Issuer-bank obtain the CSP Location using tried and tested localization techniques, and independently of the cardholder. Both of our proposal solutions do not require infrastructure changes, and it uses existing EMV/SP protocol messages to communicate our scheme information.

Keywords: NFC, RFID, contactless card, authentication, location, EMV

Procedia PDF Downloads 217

Authors: Michael Dimmer, Holger Flederer

Abstract:

The basis of realizing a construction project is a technically flawless concept which satisfies conditions regarding environment and costs, as well as static-constructional terms. The presented software system actively supports civil engineers during the setup of optimal designs, by giving advice regarding durability, life-cycle costs, sustainability and much more. A major part of the surrounding conditions of a design process is gathered and assimilated by experienced engineers subconsciously. It is a question about eligible building techniques and their practicability by considering emerging costs. Planning engineers have acquired many of this experience during their professional life and use them for their daily work. Occasionally, the planning engineer should disassociate himself from his experience to be open for new and better solutions which meet the functional demands, as well. The developed expert system gives planning engineers recommendations for preferred design options of new constructions as well as for existing bridge constructions. It is possible to analyze construction elements and techniques regarding sustainability and life-cycle costs. This way the software provides recommendations for future constructions. Furthermore, there is an option to design existing road bridges especially for heavy duty transport. This implies a route planning tool to get quick and reliable information as to whether the bridge support structures of a transport route have been measured sufficiently for a certain heavy duty transport. The use of this expert system in bridge planning companies and building authorities will save costs massively for new and existent bridge constructions. This is achieved by consequently considering parameters like life-cycle costs and sustainability for its planning recommendations.

Keywords: expert system, planning process, road bridges, software system

Procedia PDF Downloads 251

Authors: Mehrdad Mahmudizad, Roya Ahmadi Ahangar

Abstract:

This paper presents the method of designing the type 2 fuzzy PID controllers in order to solve the problem of Load Frequency Control (LFC). The Harmony Search (HS) algorithm is used to regulate the measurement factors and the effect of uncertainty of membership functions of Interval Type 2 Fuzzy Proportional Integral Differential (IT2FPID) controllers in order to reduce the frequency deviation resulted from the load oscillations. The simulation results implicitly show that the performance of the proposed IT2FPID LFC in terms of error, settling time and resistance against different load oscillations is more appropriate and preferred than PID and Type 1 Fuzzy Proportional Integral Differential (T1FPID) controllers.

Keywords: load frequency control, fuzzy-pid controller, type 2 fuzzy system, harmony search algorithm

Procedia PDF Downloads 238

Authors: Wlodzimierz Ogryczak, Michal Przyluski, Tomasz Sliwinski

Abstract:

In problems of portfolio selection, the reward-risk ratio criterion is optimized to search for a risky portfolio with the maximum increase of the mean return in proportion to the risk measure increase when compared to the risk-free investments. In the classical model, following Markowitz, the risk is measured by the variance thus representing the Sharpe ratio optimization and leading to the quadratic optimization problems. Several Linear Programming (LP) computable risk measures have been introduced and applied in portfolio optimization. In particular, the Mean Absolute Deviation (MAD) measure has been widely recognized. The reward-risk ratio optimization with the MAD measure can be transformed into the LP formulation with the number of constraints proportional to the number of scenarios and the number of variables proportional to the total of the number of scenarios and the number of instruments. This may lead to the LP models with huge number of variables and constraints in the case of real-life financial decisions based on several thousands scenarios, thus decreasing their computational efficiency and making them hardly solvable by general LP tools. We show that the computational efficiency can be then dramatically improved by an alternative model based on the inverse risk-reward ratio minimization and by taking advantages of the LP duality. In the introduced LP model the number of structural constraints is proportional to the number of instruments thus not affecting seriously the simplex method efficiency by the number of scenarios and therefore guaranteeing easy solvability. Moreover, we show that under natural restriction on the target value the MAD risk-reward ratio optimization is consistent with the second order stochastic dominance rules.

Keywords: portfolio optimization, reward-risk ratio, mean absolute deviation, linear programming

Procedia PDF Downloads 379

Authors: Fouad. Inel, Lakhdar. Khochemane

Abstract:

This article presents a comparative response specification performance between two controllers of three and four cable based robots for various applications. The main objective of this work is: The first is to use the direct and inverse geometric model to study and simulate the end effector position of the robot with three and four cables. A graphical user interface has been implemented in order to visualizing the position of the robot. Secondly, we present the determination of static and dynamic tensions and lengths of cables required to flow different trajectories. At the end, we study the response of our systems in closed loop with a Proportional-Integrated Derivative (PID) and Proportional-Integrated (PD) controllers then this last are compared the results of the same examples using MATLAB/Simulink; we found that the PID method gives the better performance, such as rapidly speed response, settling time, compared to PD controller.

Keywords: parallel cable-based robots, geometric modeling, dynamic modeling, graphical user interface, open loop, PID/PD controllers

Procedia PDF Downloads 414

Authors: Sreejith Gopinath, Aspen Olmsted

Abstract:

This paper is based on our previous work that proposed a risk-transference-based architecture for healthcare systems to store sensitive data outside the system boundary, rendering the system unattractive to would-be bad actors. This architecture also allows a compromised system to be abandoned and a new system instance spun up in place to ensure business continuity without paying a ransom or engaging with a bad actor. This paper delves into the details of various attacks we simulated against the prototype system. In the paper, we discuss at length the time and computational costs associated with storing and retrieving data in the prototype system, abandoning a compromised system, and setting up a new instance with existing data. Lastly, we simulate some analytical workloads over the data stored in our specialized data storage system and discuss the time and computational costs associated with running analytics over data in a specialized storage system outside the system boundary. In summary, this paper discusses the total costs of data storage, access, and analytics incurred with the proposed architecture.

Keywords: cybersecurity, healthcare, ransomware, resilience, risk transference

Procedia PDF Downloads 109

Authors: Ons Sassi, Wahiba Ramdane Cherif-Khettaf, Ammar Oulamara

Abstract:

In this paper, we consider a new real-life Heterogenous Electric Vehicle Routing Problem with Time Dependant Charging Costs and a Mixed Fleet (HEVRP-TDMF), in which a set of geographically scattered customers have to be served by a mixed fleet of vehicles composed of a heterogenous fleet of Electric Vehicles (EVs), having different battery capacities and operating costs, and Conventional Vehicles (CVs). We include the possibility of charging EVs in the available charging stations during the routes in order to serve all customers. Each charging station offers charging service with a known technology of chargers and time-dependent charging costs. Charging stations are also subject to operating time windows constraints. EVs are not necessarily compatible with all available charging technologies and a partial charging is allowed. Intermittent charging at the depot is also allowed provided that constraints related to the electricity grid are satisfied. The objective is to minimize the number of employed vehicles and then minimize the total travel and charging costs. In this study, we present a Mixed Integer Programming Model and develop a Charging Routing Heuristic and a Local Search Heuristic based on the Inject-Eject routine with three different insertion strategies. All heuristics are tested on real data instances.

Keywords: charging problem, electric vehicle, heuristics, local search, optimization, routing problem

Procedia PDF Downloads 436

Authors: Liang Liu, Xiaopeng Luo

Abstract:

In this paper, we propose an accelerated stochastic gradient method with momentum. The momentum term is the weighted average of generated gradients, and the weights decay inverse proportionally with the iteration times. Stochastic gradient descent with momentum (SGDM) uses weights that decay exponentially with the iteration times to generate the momentum term. Using exponential decay weights, variants of SGDM with inexplicable and complicated formats have been proposed to achieve better performance. However, the momentum update rules of our method are as simple as that of SGDM. We provide theoretical convergence analyses, which show both the exponential decay weights and our inverse proportional decay weights can limit the variance of the parameter moving directly to a region. Experimental results show that our method works well with many practical problems and outperforms SGDM.

Keywords: exponential decay rate weight, gradient descent, inverse proportional decay rate weight, momentum

Procedia PDF Downloads 128

Authors: Amit Ghosh, Chanchal Kundu

Abstract:

Recently, the notion of past cumulative inaccuracy (CPI) measure has been proposed in the literature as a generalization of cumulative past entropy (CPE) in univariate as well as bivariate setup. In this paper, we introduce the notion of CPI of order α (alpha) and study the proposed measure for conditionally specified models of two components failed at different time instants called generalized conditional CPI (GCCPI). We provide some bounds using usual stochastic order and investigate several properties of GCCPI. The effect of monotone transformation on this proposed measure has also been examined. Furthermore, we characterize some bivariate distributions under the assumption of conditional proportional reversed hazard rate model. Moreover, the role of GCCPI in reliability modeling has also been investigated for a real-life problem.

Keywords: cumulative past inaccuracy, marginal and conditional past lifetimes, conditional proportional reversed hazard rate model, usual stochastic order

Procedia PDF Downloads 222

Authors: Rodrigo Buaiz Boabaid

Abstract:

Tokenization of Blue Bonds is an emerging Green Finance tool that has the potential to scale Blue Carbon Projects to fight climate change. This innovative solution has a huge potential to democratize the green finance market and catalyze innovations in the climate change finance sector. Switzerland has emerged as a leader in the Green Finance space and is well-positioned to drive the adoption of Tokenization of Blue & Green Bonds. This unique approach has the potential to unlock new sources of capital and enable global investors to participate in the financing of sustainable blue carbon projects. By leveraging the power of blockchain technology, Tokenization of Blue Bonds can provide greater transparency, efficiency, and security in the investment process, while also reducing transaction costs. Investments are in line with the highest regulations and designed according to the stringent legal framework and compliance standards set by Switzerland. The potential benefits of Tokenization of Blue Bonds are significant and could transform the way that sustainable projects are financed. By unlocking new sources of capital, this approach has the potential to accelerate the deployment of Blue Carbon projects and create new opportunities for investors to participate in the fight against climate change.

Keywords: blue carbon, blue bonds, green finance, Tokenization, blockchain solutions

Procedia PDF Downloads 47

Authors: Dana Al-Qattan, Faiza Goodarzi, Heba Al-Resheedan, Kawther Shehab, Shoug Al-Ansari

Abstract:

This project involves working with different types of forecasting methods and facility planning tools to help the company we have chosen to improve and reduce its inventory, increase its sales, and decrease its wastes and losses. The methods that have been used by the company have shown no improvement in decreasing the annual losses. The research made in the company has shown that no interest has been made in exploring different techniques to help the company. In this report, we introduce several methods and techniques that will help the company make more accurate forecasts and use of the available space efficiently. We expect our approach to reduce costs without affecting the quality of the product, and hence making production more viable.

Keywords: production planning, inventory management, inventory control, simulation, facility planning and design, engineering economy and costs

Procedia PDF Downloads 539

Authors: K. Kiniwa, S. Kitagawa, M. Kawamoto, H. Uchiyama

Abstract:

This study aims to identify phenomenologically the embodiment of soccer in order to analyze soccer games. In this paper the authors focused on the embodiment of sports and the embodiment of the goal type ball games of team sports. The authors revealed that the embodiment of sports is represented by inverse proportional body. It is possible for this structure (body scheme) of intercorporeality of sports to be compared to the symbolic figure of Uroboros which is a monster connected the tails of two snakes. The embodiment of the goal type ball games of team sports has dependency on situation and complexity. In doing this, it revealed that soccer is sensitive and emotional sports.

Keywords: intercorporeality, structure, body scheme, Uroboros, inverse proportional body, dependency on situation, complexity

Procedia PDF Downloads 264

Authors: Reza Behtash, Enayat Enayati

Abstract:

The pool condenser is in principal a horizontal reactor, containing a bundle of U-tubes for heat exchange, coupling to low pressure steam drum. Condensation of gas takes place in a condensed pool around the tubes of the condenser. The heat of condensation is removed by the generation of low pressure steam on the inner tube side of the bundle. A circulation pump transfers ample boiler feed water to these tubes. The pressure of the steam generated influenced the heat flux. Changing the steam pressure means changing the steam condensate temperature and therefore the temperature difference between the tube side and the shell side. 2NH3 + CO2 ↔ NH2COONH4 + Heat. This reaction is exothermic and according to Le Chatelier's Principle if the heat is not removed enough, it will come back to left side and generate of the gas and so the Urea synthesis pressure will rise. The most principal reasons for high Urea synthesis pressure are non proportional of Ammonia/Dioxide Carbon ratio and too high a pressure in low pressure steam drum. Proportional of Ammonia/Dioxide Carbon ratio is 3.0 and normal pressure for low pressure steam drum is 4.5 bar. As regards these conditions were proportional but we could not control the synthesis pressure the plant endangered, therefore we had to control the steam drum pressure at about 3.5 bar. While we opened the pool condenser, we found the partition plate used to divide inlet and outlet boiler feed water to tubes, was broken partially and so amount of boiler feed water bypass the tubes and the heat was not removed totally and it resulted in the generation of gases and high pressure in synthesis.

Keywords: boiler, pressure, pool condenser, partition plate

Procedia PDF Downloads 353

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 349

Authors: Hatim Laalej, Jon Stammers

Abstract:

In machining, monitoring of tool wear is essential for achieving the desired dimensional accuracy and surface finish of a machined workpiece. Currently, the task of monitoring the wear on the cutting tool is carried out by the operator who performs manual inspections of the cutting tool, causing undesirable stoppages of machine tools and consequently resulting in costs incurred from loss of productivity. The cutting tool consumable costs may also be higher than necessary when tools are changed before the end of their useful life. Furthermore, damage can be caused to the workpiece when tools are not changed soon enough leading to a significant increase in the costs of manufacturing. The present study is concerned with the development of break sensor printed on the flank surface of poly-crystalline diamond (PCD) cutting to perform on-line condition monitoring of the cutting tool used to machine Titanium Ti-6al-4v bar. The results clearly show that there is a strong correlation between the break sensor measurements and the amount of wear in the cutting tool. These findings are significant in that they help the user/operator of the machine tool to determine the condition of the cutting tool without the need of performing manual inspection, thereby reducing the manufacturing costs such as the machine down time.

Keywords: machining, manufacturing, tool wear, signal processing

Procedia PDF Downloads 204

Authors: Tian-Fang Kang, Chao-Nan Ge, Rui Li

Abstract:

An electrochemical biosensor for the determination of organophosphorus pesticides was developed based on electrochemical co-deposition of Au and Pd nanoparticles on glassy carbon electrode (GCE). Energy disperse spectroscopy (EDS) analysis was used for characterization of the surface structure. Scanning electron micrograph (SEM) demonstrates that the films are uniform and the nanoclusters are homogeneously distributed on the GCE surface. Acetylcholinesterase (AChE) was immobilized on the Au and Pd nanoparticle modified electrode (Au-Pd/GCE) by cross-linking with glutaraldehyde. The electrochemical behavior of thiocholine at the biosensor (AChE/Au-Pd/GCE) was studied. The biosensors exhibited substantial electrocatalytic effect on the oxidation of thiocholine. The peak current of linear scan voltammetry (LSV) of thiocholine at the biosensor is proportional to the concentration of acetylthiocholine chloride (ATCl) over the range of 2.5 × 10-6 to 2.5 × 10-4 M in 0.1 M phosphate buffer solution (pH 7.0). The percent inhibition of acetylcholinesterase was proportional to the logarithm of parathion concentration in the range of 4.0 × 10-9 to 1.0 × 10-6 M. The detection limit of parathion was 2.6 × 10-9 M. The proposed method exhibited high sensitivity and good reproducibility.

Keywords: acetylcholinesterase, Au-Pd nanoparticles, electrochemical biosensors, parathion

Procedia PDF Downloads 376

Authors: Minjeoung Kim

Abstract:

The majority of Korean female members of parliament(MPs) had been elected from the proportional representation till the 19th assemblies but in the 20th general election women MPs of the district representation is slightly more than women MPs of the proportional representation. The chance of women candidates to win is not as low as we assume. Therefore this study aims to reveal which factors influence the election of women candidates, other factors except the political party, because the effect of political party is already well known. Gangnam Eul is selected because female candidate was elected in spite of the low percentage of vote won by her political party. According to the survey, the female candidate was elected thanks to her policies and election pledges. Therefore, women candidates can be elected when they are nominated as candidates by their party in a safe constituency but also they can be elected with their good policies and election pledges in an unsafe constituency. And also the degree of the education, the age and the profession of voters influenced the support of female candidate.

Keywords: women candidates, 20th general election, winning in the district representation, policies and election pledges

Procedia PDF Downloads 224

Authors: En-Tzu Wang, Ting-Ann Wang, Yi-Hui Shen, Yu-Min Chou, Chi-Tai Fang, Chin-Hui Yang

Abstract:

Background and purpose: A mass varicella immunization program was established to provide free 1-dose vaccination for all 1-year-old children throughout Taiwan since 2004. The epidemiological characteristics and disease burden of varicella from 2000 to 2012 was investigated and the results will be essential to refine the national immunization policy. Method: We included patients (n = 17,838–164,245) with ICD-9-CM codes 052 (chickenpox) from the 2000 to 2012 National Health Insurance Database. The age, period, and cohort-specific incidence of varicella were calculated. The hospital admission rate, medical costs and indirect costs from the societal perspective of varicella including travel costs to the medical facility, registration fee, productivity losses of the patients and caregivers were also estimated. Result: There were 979,252 patients for medical treatment due to varicella from 2000 to 2012 in Taiwan. The implementation of a routine childhood varicella vaccination program has resulted in 87% decline in morbidity (881.49 to 115.17 per 100,000). The average age of patients increased from 7.9 years to 16.3 years. The overall varicella-related hospital admission rate was 15.5 per 1000 patients, and peaked in the groups of infants younger than 1 year, adults aged from 20 to 39 years and elders over 70 years. Among patients admitted to hospital, 33.5% of them had one or more complications. Patients with underlying diseases had higher admission rate (241.6 per 1,000) and longer duration of hospital stay (6.61 days vs. 4.76 days). The annual varicella-related medical expense declined after 2002 and the proportion of medical costs for admission has increased to 42%. The annual indirect costs from the societal perspective of varicella were 5.29 to 9.63 times higher than varicella-related medical costs. Every one dollar invested in the varicella immunization program, 2.97 dollars of medical and social costs were saved on average. Conclusion: The dramatic decline in morbidity, hospitalization, medical and social costs of varicella can be directly attributed to the implementation of the mass immunization program. Two-dose vaccination is recommended for both children with underlying diseases and susceptible adults to prevent serious complications and hospitalizations.

Keywords: disease burden, epidemiology, medical and social costs, varicella, varicella vaccine

Procedia PDF Downloads 365

Authors: Fabiha Tanzeem

Abstract:

BACKGROUND: Osteoporosis is a skeletal disease that is associated with a reduction in bone mass and microstructures of the bone and deterioration of bone tissue. Fragility fracture due to osteoporosis is the most significant complication of osteoporosis. The increasing prevalence of fragility fractures presents a growing burden on the global economy. There is a rapidly evolving need to improve awareness of the costs associated with these types of fractures and to review current policies and practices for the prevention and management of the disease. This systematic review will identify and describe the direct and indirect costs associated with osteoporotic fragility fractures from a global perspective from the included studies. The review will also find out whether the costs required for the treatment of fragility fractures due to osteoporosis impose an economic burden on the global healthcare system. METHODS: Four major databases were systematically searched for direct and indirect costs of osteoporotic fragility fracture studies in the English Language. PubMed, Cochrane Library, Embase and Google Scholar were searched for suitable articles published between 1990 and July 2020. RESULTS: The original search yielded 1166 papers; from these, 27 articles were selected for this review according to the inclusion and exclusion criteria. In the 27 studies, the highest direct costs were associated with the treatment of pelvic fractures, with the majority of the expenditure due to hospitalization and surgical treatments. It is also observed that most of the articles are from developed countries. CONCLUSION: This review indicates the significance of the economic burden of osteoporosis globally, although more research needs to be done in developing countries. In the treatment of fragility fractures, direct costs were the main reported expenditure in this review. The healthcare costs incurred globally can be significantly reduced by implementing measures to effectively prevent the disease. Raising awareness in children and adults by improving the quality of the information available and standardising policies and planning of services requires further research.

Keywords: systematic review, osteoporosis, cost of illness

Procedia PDF Downloads 138

Authors: Mayada Attia Ibrahim

Abstract:

Evaluating and developing the electroplating production process is a key challenge in this type of process. The process is influenced by several factors such as process parameters, process costs, and production environments. Analyzing and optimizing all these factors together requires extensive analytical techniques that are not available in real-case industrial entities. This paper presents a practice-based framework for the evaluation and optimization of some of the crucial factors that affect the costs and production times associated with this type of process, energy costs, material costs, and product flow times. The proposed approach uses Design of Experiments, Discrete-Event Simulation, and Theory of Constraints were respectively used to identify the most significant factors affecting the production process and simulate a real production line to recognize the effect of these factors and assign possible bottlenecks. Several scenarios are generated as corrective strategies for improving the production line. Following that, data envelopment analysis CCR input-oriented DEA model is used to evaluate and optimize the suggested scenarios.

Keywords: electroplating process, simulation, design of experiment, performance optimization, theory of constraints, data envelopment analysis

Procedia PDF Downloads 63

Authors: Jalal Soleimannejad, Mohammad Asadizeidabadi, Mahmoud Koorki, Mojtaba Azarpira

Abstract:

A significant percentage of production costs is the maintenance costs, and analysis of maintenance costs could to achieve greater productivity and competitiveness. With this is mind, the maintenance of machines and installations is considered as an essential part of organizational functions and applying effective strategies causes significant added value in manufacturing activities. Organizations are trying to achieve performance levels on a global scale with emphasis on creating competitive advantage by different methods consist of RCM (Reliability-Center-Maintenance), TPM (Total Productivity Maintenance) etc. In this study, increasing the capacity of Concentration Plant of Golgohar Iron Ore Mining & Industrial Company (GEG) was examined by using of reliability and maintainability analyses. The results of this research showed that instead of increasing the number of machines (in order to solve the bottleneck problems), the improving of reliability and maintainability would solve bottleneck problems in the best way. It should be mention that in the abovementioned study, the data set of Concentration Plant of GEG as a case study, was applied and analyzed.

Keywords: bottleneck, golgohar iron ore mining & industrial company, maintainability, maintenance costs, reliability

Procedia PDF Downloads 322

Authors: Sumit Banerjee, Chandan Kumar Chanda

Abstract:

The paper presents allocation of active power losses and energy losses to consumers connected to radial distribution networks in a deregulated environment for loads of composite types. A detailed comparison among four algorithms, namely quadratic loss allocation, proportional loss allocation, pro rata loss allocation and exact loss allocation methods are presented. Quadratic and proportional loss allocations are based on identifying the active and reactive components of current in each branch and the losses are allocated to each consumer, pro rata loss allocation method is based on the load demand of each consumer and exact loss allocation method is based on the actual contribution of active power loss by each consumer. The effectiveness of the proposed comparison among four algorithms for composite load is demonstrated through an example.

Keywords: composite type, deregulation, loss allocation, radial distribution networks

Procedia PDF Downloads 250

Authors: Debabrata Auddya, Bradley J. Roth

Abstract:

The mechanical bidomain model is used to describe a colony of cells growing on a substrate. Analytical expressions are derived for the intracellular and extracellular displacements. Mechanotransduction events are driven by the difference between the displacements in the two spaces, corresponding to the force acting on integrins. The equation for the displacement consists of two terms: one proportional to the radius that is the same in the intracellular and extracellular spaces (the monodomain term) and one that is proportional to a modified Bessel function that is responsible for mechanotransduction (the bidomain term). The model predicts that mechanotransduction occurs within a few length constants of the colony’s edge, and an expression for the length constant contains the intracellular and extracellular shear moduli and the spring constant of the integrins coupling the two spaces. The model predictions are qualitatively consistent with experiments on human embryonic stem cell colonies, in which differentiation is localized near the edge.

Keywords: cell colony, integrin, mechanical bidomain model, stem cell, stress-strain, traction force

Procedia PDF Downloads 217

Authors: Azadeh Malekan, Shahin Rouhani

Abstract:

Superlubricity is a phenomenon where two surfaces in contact show negligible friction;this may be because the asperities of the two surfaces do not interlock. Two rough surfaces, when pressed against each other, can get into a formation where the summits of asperities of one surface lock into the valleys of the other surface. The amount of interlock depends on the geometry of the two surfaces. We suggest the friction force may then be proportional to the amount of interlock; this explains Superlubricity as the situation where there is little interlock. Then the friction force will be directly proportional to the normal force as it is related to the work necessary to lift the upper surface in order to clear the interlock. To investigate this model, we simulate the contact of two surfaces. In order to validate our model, we first investigate Amontons‘ law. Assuming that asperities retain deformations in the time scale while the top asperity moves across the lattice spacing Amonton’s law is observed. Structural superlubricity is examined by the hypothesis that surfaces are very rigid and there is no deformation in asperities. This may happen at small normal forces. When two identical surfaces come into contact, rotating the top surface we observe a peak in friction force near the angle of orientation where the two surfaces can interlock.

Keywords: friction, amonton`s law, superlubricity, contact model

Procedia PDF Downloads 122

Authors: Muhammad Rifqi Hafizhudin Arif, Mukhamad Zulfal Faradis, Ahmad Hidayatullah

Abstract:

Indonesia is the country that uses conventional financial system adopted from European countries as a form of finance in the national banking system. Many of the derivative products of conventional banks either investment, buy and sell, saving and loan, which is not in accordance with Islamic Ethics. While the majority population in Indonesia are belief in Islam, which Islam has had financial management guide is written in the Quran, the Hadith, as well as the opinions of experts who strongly prohibits the use of interest in each transaction activities. Many different expert opinions on the application of the Islamic financial system in Indonesia. However, as the majority of the population of Indonesia, Islamic community have not been able to get the opportunities to choose the Islamic financial system that has mutual benefit between consumers and banks, particularly fairness in transactions, ethical investment, uphold the values of solidarity and brotherhood in every transaction activities, and avoid speculation. In this paper, we will discuss the reasons for the importance of providing an option for Islamic community as the majority of the population of Indonesia to use the banking system which adopted the Islamic ethical values that have been much discussed by other researchers in various countries. The existence of this research is expected to Government, academia and the general public aware of the urgency of Islamic economic system implementation in Indonesian banking as the solution and justice especially for the Islamic community to use the values which they held.

Keywords: Islamic economic system, conventional system, Islamic value, banking

Procedia PDF Downloads 330

Authors: Montserrat Guillen, Stephania Mosquera-Lopez, Jorge Uribe

Abstract:

An empirical study of market risk transmission between electricity prices in the Nord Pool interconnected market is done. Crucially, it is differentiated between risk propagation in the two tails of the price variation distribution. Thus, the downside risk from upside risk spillovers is distinguished. The results found document an asymmetric nature of risk and risk propagation in the two tails of the electricity price log variations. Risk spillovers following price increments in the market are transmitted to a larger extent than those after price reductions. Also, asymmetries related to both, the size of the transaction area and related to whether a given area behaves as a net-exporter or net-importer of electricity, are documented. For instance, on the one hand, the bigger the area of the transaction, the smaller the size of the volatility shocks that it receives. On the other hand, exporters of electricity, alongside countries with a significant dependence on renewable sources, tend to be net-transmitters of volatility to the rest of the system. Additionally, insights on the predictive power of positive and negative semivariances for future market volatility are provided. It is shown that depending on the forecasting horizon, downside and upside shocks to the market are featured by a distinctive persistence, and that upside volatility impacts more on net-importers of electricity, while the opposite holds for net-exporters.

Keywords: electricity prices, realized volatility, semivariances, volatility spillovers

Procedia PDF Downloads 149

Authors: C. Hamamura, V. Gialluca

Abstract:

Much of the Eclectricity Distributors has about 70% of its electricity interruptions arising from cause "trees", alone or associated with wind and rain and with or without falling branch and / or trees. This contributes inexorably and significantly to outages, resulting in high costs as compensation in addition to the operation and maintenance costs. On the other hand, there is little data structure and solutions to better organize the trees pruning plan effectively, minimizing costs and environmentally friendly. This work describes the development of an algorithm to provide data of trees associated to power grid. The method is accomplished on several steps using satellite imagery and geographically vectorized grid. A sliding window like approach is performed to seek the area around the grid. The proposed method counted 764 trees on a patch of the grid, which was very close to the 738 trees counted manually. The trees data was used as a part of a larger project that implements a system to optimize tree pruning plan.

Keywords: image pattern recognition, trees pruning, trees recognition, neural network

Procedia PDF Downloads 475