Search results for: spectrum trading
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 1606

Search results for: spectrum trading

1546 A Query Optimization Strategy for Autonomous Distributed Database Systems

Authors: Dina K. Badawy, Dina M. Ibrahim, Alsayed A. Sallam

Abstract:

Distributed database is a collection of logically related databases that cooperate in a transparent manner. Query processing uses a communication network for transmitting data between sites. It refers to one of the challenges in the database world. The development of sophisticated query optimization technology is the reason for the commercial success of database systems, which complexity and cost increase with increasing number of relations in the query. Mariposa, query trading and query trading with processing task-trading strategies developed for autonomous distributed database systems, but they cause high optimization cost because of involvement of all nodes in generating an optimal plan. In this paper, we proposed a modification on the autonomous strategy K-QTPT that make the seller’s nodes with the lowest cost have gradually high priorities to reduce the optimization time. We implement our proposed strategy and present the results and analysis based on those results.

Keywords: autonomous strategies, distributed database systems, high priority, query optimization

Procedia PDF Downloads 492
1545 Analysis of Decentralized on Demand Cross Layer in Cognitive Radio Ad Hoc Network

Authors: A. Sri Janani, K. Immanuel Arokia James

Abstract:

Cognitive radio ad hoc networks different unlicensed users may acquire different available channel sets. This non-uniform spectrum availability imposes special design challenges for broadcasting in CR ad hoc networks. Cognitive radio automatically detects available channels in wireless spectrum. This is a form of dynamic spectrum management. Cross-layer optimization is proposed, using this can allow far away secondary users can also involve into channel work. So it can increase the throughput and it will overcome the collision and time delay.

Keywords: cognitive radio, cross layer optimization, CR mesh network, heterogeneous spectrum, mesh topology, random routing optimization technique

Procedia PDF Downloads 332
1544 Energy Trading for Cooperative Microgrids with Renewable Energy Resources

Authors: Ziaullah, Shah Wahab Ali

Abstract:

Micro-grid equipped with heterogeneous energy resources present the idea of small scale distributed energy management (DEM). DEM helps in minimizing the transmission and operation costs, power management and peak load demands. Micro-grids are collections of small, independent controllable power-generating units and renewable energy resources. Micro-grids also motivate to enable active customer participation by giving accessibility of real-time information and control to the customer. The capability of fast restoration against faulty situation, integration of renewable energy resources and Information and Communication Technologies (ICT) make micro-grid as an ideal system for distributed power systems. Micro-grids can have a bank of energy storage devices. The energy management system of micro-grid can perform real-time energy forecasting of renewable resources, energy storage elements and controllable loads in making proper short-term scheduling to minimize total operating costs. We present a review of existing micro-grids optimization objectives/goals, constraints, solution approaches and tools used in micro-grids for energy management. Cost-benefit analysis of micro-grid reveals that cooperation among different micro-grids can play a vital role in the reduction of import energy cost and system stability. Cooperative micro-grids energy trading is an approach to electrical distribution energy resources that allows local energy demands more control over the optimization of power resources and uses. Cooperation among different micro-grids brings the interconnectivity and power trading issues. According to the literature, it shows that open area of research is available for cooperative micro-grids energy trading. In this paper, we proposed and formulated the efficient energy management/trading module for interconnected micro-grids. It is believed that this research will open new directions in future for energy trading in cooperative micro-grids/interconnected micro-grids.

Keywords: distributed energy management, information and communication technologies, microgrid, energy management

Procedia PDF Downloads 344
1543 Oppugning LGBTQ+ Stereotypes in Gloc-9’s “Sirena”

Authors: Gerald S. Atchaso, Erwin L. Purcia, Angelo B. Velarde

Abstract:

The study attempts to analyze and evaluate Gloc-9’s “Sirena” through Queer Critical Reading approach, which underscores that there exists sexual orientation fluidity within the LGBTQ+ spectrum. With this, the researchers found out that there is a need to oppugn stereotypes within and outside the spectrum, and there exist intrinsic and extrinsic struggles of people in the spectrum as deduced in the literary piece through identifying the characters’ sexual identities shaped and formed as exemplified in the literary piece, determining the prejudices that exist about the main character's sexuality, and distinctively demystifying the social forces or constructs that identify sexual identity.

Keywords: literature, LGBTQ+, spectrum, sexual orientation, queer critical reading

Procedia PDF Downloads 60
1542 Physicochemical Characterization of Mercerized Cellulose-Supported Nickel-Oxide

Authors: Sherif M. A. S. Keshk, Hisham S. M. Abd-Rabboh, Mohamed S. Hamdy, Ibrahim H. A. Badr

Abstract:

Microwave radiation was applied to synthesize nanoparticles of nickel oxide supported on pretreated cellulose with metal acetate in the presence of NaOH. Optimization, in terms of irradiation time and metal concentration, was investigated. FT-IR spectrum of cellulose/NiO spectrum shows a band at 445 cm^-1 that is related to the Ni–O stretching vibration of NiO6 octahedral in the cubic NiO structure. cellulose/NiO showed similar XRD pattern of cellulose I and exhibited sharpened reflection peak at 2q = 29.8°, corresponding to (111) plane of NiO, with two weak broad peaks at 48.5°, and 49.2°, representing (222) planes of NiO. XPS spectrum of mercerized cellulose/NiO composite showed did not show any peaks corresponding to Na ion.

Keywords: cellulose, mercerized cellulose, cellulose/zinc and nickeloxides composite, FTIR, XRD, XPS, SEM, Raman spectrum

Procedia PDF Downloads 417
1541 A Linear Autoregressive and Non-Linear Regime Switching Approach in Identifying the Structural Breaks Caused by Anti-Speculation Measures: The Case of Hong Kong

Authors: Mengna Hu

Abstract:

This paper examines the impact of an anti-speculation tax policy on the trading activities and home price movements in the housing market in Hong Kong. The study focuses on the secondary residential property market where transactions dominate. The policy intervention substantially raised the transaction cost to speculators as well as genuine homeowners who dispose their homes within a certain period. Through the demonstration of structural breaks, our empirical results show that the rise in transaction cost effectively reduced speculative trading activities. However, it accelerated price increase in the small-sized segment by vastly demotivating existing homeowners from trading up to better homes, causing congestion in the lower-end market where the demand from first-time buyers is still strong. Apart from that, by employing regime switching approach, we further show that the unintended consequences are likely to be persistent due to this policy together with other strengthened cooling measures.

Keywords: transaction costs, housing market, structural breaks, regime switching

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1540 Stochastic Pi Calculus in Financial Markets: An Alternate Approach to High Frequency Trading

Authors: Jerome Joshi

Abstract:

The paper presents the modelling of financial markets using the Stochastic Pi Calculus model. The Stochastic Pi Calculus model is mainly used for biological applications; however, the feature of this model promotes its use in financial markets, more prominently in high frequency trading. The trading system can be broadly classified into exchange, market makers or intermediary traders and fundamental traders. The exchange is where the action of the trade is executed, and the two types of traders act as market participants in the exchange. High frequency trading, with its complex networks and numerous market participants (intermediary and fundamental traders) poses a difficulty while modelling. It involves the participants to seek the advantage of complex trading algorithms and high execution speeds to carry out large volumes of trades. To earn profits from each trade, the trader must be at the top of the order book quite frequently by executing or processing multiple trades simultaneously. This would require highly automated systems as well as the right sentiment to outperform other traders. However, always being at the top of the book is also not best for the trader, since it was the reason for the outbreak of the ‘Hot – Potato Effect,’ which in turn demands for a better and more efficient model. The characteristics of the model should be such that it should be flexible and have diverse applications. Therefore, a model which has its application in a similar field characterized by such difficulty should be chosen. It should also be flexible in its simulation so that it can be further extended and adapted for future research as well as be equipped with certain tools so that it can be perfectly used in the field of finance. In this case, the Stochastic Pi Calculus model seems to be an ideal fit for financial applications, owing to its expertise in the field of biology. It is an extension of the original Pi Calculus model and acts as a solution and an alternative to the previously flawed algorithm, provided the application of this model is further extended. This model would focus on solving the problem which led to the ‘Flash Crash’ which is the ‘Hot –Potato Effect.’ The model consists of small sub-systems, which can be integrated to form a large system. It is designed in way such that the behavior of ‘noise traders’ is considered as a random process or noise in the system. While modelling, to get a better understanding of the problem, a broader picture is taken into consideration with the trader, the system, and the market participants. The paper goes on to explain trading in exchanges, types of traders, high frequency trading, ‘Flash Crash,’ ‘Hot-Potato Effect,’ evaluation of orders and time delay in further detail. For the future, there is a need to focus on the calibration of the module so that they would interact perfectly with other modules. This model, with its application extended, would provide a basis for researchers for further research in the field of finance and computing.

Keywords: concurrent computing, high frequency trading, financial markets, stochastic pi calculus

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1539 A Sparse Representation Speech Denoising Method Based on Adapted Stopping Residue Error

Authors: Qianhua He, Weili Zhou, Aiwu Chen

Abstract:

A sparse representation speech denoising method based on adapted stopping residue error was presented in this paper. Firstly, the cross-correlation between the clean speech spectrum and the noise spectrum was analyzed, and an estimation method was proposed. In the denoising method, an over-complete dictionary of the clean speech power spectrum was learned with the K-singular value decomposition (K-SVD) algorithm. In the sparse representation stage, the stopping residue error was adaptively achieved according to the estimated cross-correlation and the adjusted noise spectrum, and the orthogonal matching pursuit (OMP) approach was applied to reconstruct the clean speech spectrum from the noisy speech. Finally, the clean speech was re-synthesised via the inverse Fourier transform with the reconstructed speech spectrum and the noisy speech phase. The experiment results show that the proposed method outperforms the conventional methods in terms of subjective and objective measure.

Keywords: speech denoising, sparse representation, k-singular value decomposition, orthogonal matching pursuit

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1538 Cointegration Dynamics in Asian Stock Markets: Implications for Long-Term Portfolio Management

Authors: Xinyi Xu

Abstract:

This study conducts a detailed examination of Asian stock markets over the period from 2008 to 2023, with a focus on the dynamics of cointegration and their relevance for long-term investment strategies. Specifically, we assess the co-movement and potential for pairs trading—a strategy where investors take opposing positions on two stocks, indices, or financial instruments that historically move together. For example, we explore the relationship between the Nikkei 225 (N225), Japan’s benchmark stock index, and the Straits Times Index (STI) of Singapore, as well as the relationship between the Korea Composite Stock Price Index (KS11) and the STI. The methodology includes tests for normality, stationarity, cointegration, and the application of Vector Error Correction Modeling (VECM). Our findings reveal significant long-term relationships between these pairs, indicating opportunities for pairs trading strategies. Furthermore, the research underscores the challenges posed by model instability and the influence of major global incidents, which are identified as structural breaks. These findings pave the way for further exploration into the intricacies of financial market dynamics.

Keywords: normality tests, stationarity, cointegration, VECM, pairs trading

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1537 Cooperative Spectrum Sensing Using Hybrid IWO/PSO Algorithm in Cognitive Radio Networks

Authors: Deepa Das, Susmita Das

Abstract:

Cognitive Radio (CR) is an emerging technology to combat the spectrum scarcity issues. This is achieved by consistently sensing the spectrum, and detecting the under-utilized frequency bands without causing undue interference to the primary user (PU). In soft decision fusion (SDF) based cooperative spectrum sensing, various evolutionary algorithms have been discussed, which optimize the weight coefficient vector for maximizing the detection performance. In this paper, we propose the hybrid invasive weed optimization and particle swarm optimization (IWO/PSO) algorithm as a fast and global optimization method, which improves the detection probability with a lesser sensing time. Then, the efficiency of this algorithm is compared with the standard invasive weed optimization (IWO), particle swarm optimization (PSO), genetic algorithm (GA) and other conventional SDF based methods on the basis of convergence and detection probability.

Keywords: cognitive radio, spectrum sensing, soft decision fusion, GA, PSO, IWO, hybrid IWO/PSO

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1536 Nine Foundational Interventions for Students with Autism Spectrum Disorders

Authors: Jennie Long, Marjorie Bock

Abstract:

Although the professional literature related to Autism Spectrum Disorder (ASD) has focused on successful interventions and strategies, there is a lack of documentation regarding which of these methods and supports are most foundational and essential for classroom use. Specifically, literature does not define the core foundational interventions and strategies that would be elemental for educators to use with students with an ASD diagnosis. From the increase in prevalence of autism spectrum disorders, to the challenge students with ASD pose in classrooms, to the requirement to implement evidence-based practice, rises an enormous challenge in the field of education. Foundational interventions should be in place the first day the student enters the classroom. The nine interventions are foundational in nature and because of the dramatic increase in prevalence there is currently a need for classroom programs to provide the foundation of basic educational skills as well as the specialty skills specific to the area of ASD utilizing the most current research. This article presents nine evidence-based intervention categories for implementation with students on the spectrum.

Keywords: autism spectrum disorder, classroom, evidence-based, foundational

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1535 Spread Spectrum with Notch Frequency Using Pulse Coding Method for Switching Converter of Communication Equipment

Authors: Yasunori Kobori, Futoshi Fukaya, Takuya Arafune, Nobukazu Tsukiji, Nobukazu Takai, Haruo Kobayashi

Abstract:

This paper proposes an EMI spread spectrum technique to enable to set notch frequencies using pulse coding method for DC-DC switching converters of communication equipment. The notches in the spectrum of the switching pulses appear at the frequencies obtained from empirically derived equations with the proposed spread spectrum technique using the pulse coding methods, the PWM (Pulse Width Modulation) coding or the PCM (Pulse Cycle Modulation) coding. This technique would be useful for the switching converters in the communication equipment which receives standard radio waves, without being affected by noise from the switching converters. In our proposed technique, the notch frequencies in the spectrum depend on the pulse coding method. We have investigated this technique to apply to the switching converters and found that there is good relationship agreement between the notch frequencies and the empirical equations. The notch frequencies with the PWM coding is equal to the equation F=k/(WL-WS). With the PCM coding, that is equal to the equation F=k/(TL-TS).

Keywords: notch frequency, pulse coding, spread spectrum, switching converter

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1534 An Energy Detection-Based Algorithm for Cooperative Spectrum Sensing in Rayleigh Fading Channel

Authors: H. Bakhshi, E. Khayyamian

Abstract:

Cognitive radios have been recognized as one of the most promising technologies dealing with the scarcity of the radio spectrum. In cognitive radio systems, secondary users are allowed to utilize the frequency bands of primary users when the bands are idle. Hence, how to accurately detect the idle frequency bands has attracted many researchers’ interest. Detection performance is sensitive toward noise power and gain fluctuation. Since signal to noise ratio (SNR) between primary user and secondary users are not the same and change over the time, SNR and noise power estimation is essential. In this paper, we present a cooperative spectrum sensing algorithm using SNR estimation to improve detection performance in the real situation.

Keywords: cognitive radio, cooperative spectrum sensing, energy detection, SNR estimation, spectrum sensing, rayleigh fading channel

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1533 Behaviours of Energy Spectrum at Low Reynolds Numbers in Grid Turbulence

Authors: Md Kamruzzaman, Lyazid Djenidi, R. A. Antonia

Abstract:

This paper reports an experimental investigation of the energy spectrum of turbulent velocity fields at low Reynolds numbers ( Rλ ) in grid turbulence. Hot wire measurements are carried out in grid turbulence with subjected to a 1.36:1 contraction of the wind tunnel. Three different grids are used: (i) large square perforated grid (mesh size 43.75 mm), (ii) small square perforated grid (mesh size 14 and (iii) woven mesh grid (mesh size 5mm). The results indicate that the energy spectrum at small Rλ does not follow Kolmogorov’s universal scaling. It is further found that the critical Reynolds number,Rλ,ϲ below which the scaling breaks down is around 25.

Keywords: energy spectrum, Taylor microscale, Reynolds number, turbulent kinetic energy, decay exponent

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1532 Preparation and Structural Analysis of Nano-Ciprofloxacin by Fourier Transform X-Ray Diffraction, Infra-Red Spectroscopy, and Semi Electron Microscope (SEM)

Authors: Shahriar Ghammamy, Mehrnoosh Saboony

Abstract:

Purpose: To evaluate the spectral specification (IR-XRD and SEM) of nano-ciprofloxacin that prepared by up-down method (satellite mill). Methods: the ciprofloxacin was minimized to nano-scale with satellite mill and its characterization evaluated by Infrared spectroscopy, XRD diffraction and semi electron microscope (SEM). Expectation enhances the antibacterial property of nano-ciprofloxacin in comparison to ciprofloxacin. IR spectrum of nano-ciprofloxacin compared with spectrum of ciprofloxacin, and both of them were almost agreement with a difference: the peaks in spectrum of nano-ciprofloxacin were sharper than peaks in spectrum of ciprofloxacin. X-Ray powder diffraction analysis of nano-ciprofloxacin shows the diameter of particles equal to 90.9nm. (on the basis of Scherer Equation). SEM image shows the global shape for nano-ciprofloxacin.

Keywords: antibiotic, ciprofloxacin, nano, IR, XRD, SEM

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1531 Preparation and Structural Analysis of Nano Ciprofloxacin by Fourier Transform Infra-Red Spectroscopy, X-Ray Diffraction and Semi Electron Microscope (SEM)

Authors: Shahriar Ghammamy, Mehrnoosh Saboony

Abstract:

Purpose: to evaluate the spectral specification(IR-XRD and SEM) of nano ciprofloxacin that prepared by up-down method (satellite mill). Methods: the ciprofloxacin was minimized to nano-scale with satellite mill and it,s characterization evaluated by Infrared spectroscopy, XRD diffraction and semi electron microscope (SEM). Expectation: to enhance the antibacterial property of nano ciprofloxacin in comparison to ciprofloxacin.IR spectrum of nano ciprofloxacin compared with spectrum of ciprofloxacin, and both of them were almost agreement with a difference: the peaks in spectrum of nano ciprofloxacin was sharper than peaks in spectrum of ciprofloxacin. X-Ray powder diffraction analysis of nano ciprofloxacin showes the diameter of particles equal to 90.9 nm (on the basis of scherrer equation). SEM image showes the global shape for nano ciprofloxacin.

Keywords: antibiotic, ciprofloxacin, nano, IR, XRD, SEM

Procedia PDF Downloads 380
1530 A Smart Contract Project: Peer-to-Peer Energy Trading with Price Forecasting in Microgrid

Authors: Şakir Bingöl, Abdullah Emre Aydemir, Abdullah Saado, Ahmet Akıl, Elif Canbaz, Feyza Nur Bulgurcu, Gizem Uzun, Günsu Bilge Dal, Muhammedcan Pirinççi

Abstract:

Smart contracts, which can be applied in many different areas, from financial applications to the internet of things, come to the fore with their security, low cost, and self-executing features. In this paper, it is focused on peer-to-peer (P2P) energy trading and the implementation of the smart contract on the Ethereum blockchain. It is assumed a microgrid consists of consumers and prosumers that can produce solar and wind energy. The proposed architecture is a system where the prosumer makes the purchase or sale request in the smart contract and the maximum price obtained through the distribution system operator (DSO) by forecasting. It is aimed to forecast the hourly maximum unit price of energy by using deep learning instead of a fixed pricing. In this way, it will make the system more reliable as there will be more dynamic and accurate pricing. For this purpose, Istanbul's energy generation, energy consumption and market clearing price data were used. The consistency of the available data and forecasting results is observed and discussed with graphs.

Keywords: energy trading smart contract, deep learning, microgrid, forecasting, Ethereum, peer to peer

Procedia PDF Downloads 89
1529 Artificial Neural Networks for Cognitive Radio Network: A Survey

Authors: Vishnu Pratap Singh Kirar

Abstract:

The main aim of the communication system is to achieve maximum performance. In cognitive radio, any user or transceiver have the ability to sense best suitable channel, while the channel is not in use. It means an unlicensed user can share the spectrum of licensed user without any interference. Though the spectrum sensing consumes a large amount of energy and it can reduce by applying various artificial intelligent methods for determining proper spectrum holes. It also increases the efficiency of Cognitive Radio Network (CRN). In this survey paper, we discuss the use of different learning models and implementation of Artificial Neural Network (ANN) to increase the learning and decision-making capacity of CRN without affecting bandwidth, cost and signal rate.

Keywords: artificial neural network, cognitive radio, cognitive radio networks, back propagation, spectrum sensing

Procedia PDF Downloads 572
1528 Application of Production Planning to Improve Operation in Local Factory

Authors: Bashayer Al-Enezi, Budoor Al-Sabti, Eman Al-Durai, Fatmah Kalban, Meshael Ahmed

Abstract:

Production planning and control principles are concerned with planning, controlling and balancing all aspects of manufacturing including raw materials, finished goods, production schedules, and equipment requirements. Hence, an effective production planning and control system is very critical to the success of any factory. This project will focus on the application of production planning and control principles on “The National Canned Food Production and Trading Company (NCFP)” factory to find problems or areas for improvement.

Keywords: production planning, operations improvement, inventory management, National Canned Food Production and Trading Company (NCFP)

Procedia PDF Downloads 467
1527 Children with Autistic Spectrum Disorders in Co-Taught Classes in Greece: Teachers’ View

Authors: Tryfon Mavropalias, Anastasia Alevriadou

Abstract:

Co-teaching is a relatively recent model of providing teaching services to students with disabilities in Greece. According to recent studies, it seems that the largest number of students who take part in the Greek co-teaching programme are children with Autistic Spectrum Disorders (ASD). The aim of the suggested study is to investigate the effectiveness and usefulness of co-teaching to students with ASD as well as skills students with ASD develop during co-teaching in primary education classes. To conduct the research, quantitative method of research was used, with the means of research being a questionnaire including open and close type questions. The sample of this research consists of 142 primary school co-teachers from all over Northern Greece (71 general education teachers and 71 special education teachers). Given the results, it was concluded that co-teachers believe that including and educating children with Autistic Spectrum Disorders in the general class benefits those who autism is measured from the middle to the upper end of the spectrum. Additionally, children develop social skills first, followed by emotional and cognitive skills. Ultimately, educators declared that they are prepared only to a limited degree to effectively support students with Autistic Spectrum Disorders in general classes.

Keywords: Autistic spectrum disorders, co-teaching, co-teachers, co-taught class

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1526 Development and Emerging Risks in the Derivative Market: A Comparison of Impact of Futures Trading on Spot Price Volatility and a Case of Developed, Emerging and Less Developed Economies

Authors: Rancy Chepchirchir Kosgey, John Olukuru

Abstract:

This study examines the impact of introduction of futures trading on the spot price volatility in the commodity market. The paper considers the United States of America, South Africa and Ethiopian economies. Three commodities i.e. coffee, maize and wheat from New York Merchantile Exchange, South African Futures Exchange and Ethiopian Commodity Exchange are analyzed. ARCH LM test is used to check for heteroskedasticity and GARCH and EGARCH are used to check for the behavior of volatility between the pre- and post-futures periods. For all the three economies, the results indicate presence of the ARCH effect in the log returns. For conditional and unconditional variances; spot price volatility for coffee has decreased after futures trading in all the economies and the EGARCH has also shown reduction in persistence of volatility in the post-futures period in the three economies; while that of maize has reduced for the Ethiopian economy while there has been an increase in both the US and South African economies. For wheat, the conditional variance has been found to rise in the post-futures period in all the three economies.

Keywords: derivatives, futures exchange, agricultural commodities, spot price volatility

Procedia PDF Downloads 407
1525 Human Connection over Technology: Evidence, Pitfalls, and Promise of Collaboration Technologies in Promoting Full Spectrum Participation of the Virtual Workforce

Authors: Michelle Marquard

Abstract:

The evidence for collaboration technologies (CTs) as a source of business productivity has never been stronger, and grows each day. At the same time, paradoxically, there is an increasingly greater concern about the challenge CTs present to the unity and well-being of the virtual workforce than ever before, but nowhere in the literature has an empirical understanding of these linkages been set out. This study attempted to address by using virtual distance as a measure of the efficacy of CTs to reduce the psychological distance among people. Data from 350 managers and 101 individual contributors across twelve functions in six major industries showed that business value is related to collaboration (r=.84, p < .01), which, in turn, is associated with full spectrum participation (r=.60, p < .01), a summative function of inclusion, integration, and we-intention. Further, virtual distance is negatively related to both collaboration (r=-.54, p < .01) and full spectrum participation (r=-.26, p < .01). Additionally, CIO-CDO relationship is a factor in the degree to which virtual distance is managed in the organization (r=-.26, p < .01). Overall, the results support the positive relationship between business value and collaboration. They also suggest that the extent to which collaboration can be fostered may depend on the degree of full spectrum participation or the level of inclusion, integration, and we-intention among members. Finally, the results indicate that CTs, when managed wisely to lower virtual distance, are a compelling concomitant to collaboration and full spectrum participation. A strategic outcome of this study is an instrumental blueprint of CTs and virtual distance in relation to full spectrum participation that should serve as a shared dashboard for CIOs, CHROs, and CDOs.

Keywords: business value, collaboration, inclusion, integration, we-intention, full spectrum participation, collaboration technologies, virtual distance

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1524 The Presence of Investor Overconfidence in the South African Exchange Traded Fund Market

Authors: Damien Kunjal, Faeezah Peerbhai

Abstract:

Despite the increasing popularity of exchange-traded funds (ETFs), ETF investment choices may not always be rational. Excess trading volume, misevaluations of securities, and excess return volatility present in financial markets can be attributed to the influence of the overconfidence bias. Whilst previous research has explored the overconfidence bias in stock markets; this study focuses on trading in ETF markets. Therefore, the objective of this study is to investigate the presence of investor overconfidence in the South African ETF market. Using vector autoregressive models, the lead-lag relationship between market turnover and the market return is examined for the market of South African ETFs tracking domestic benchmarks and for the market of South African ETFs tracking international benchmarks over the period November 2000 till August 2019. Consistent with the overconfidence hypothesis, a positive relationship between current market turnover and lagged market return is found for both markets, even after controlling for market volatility and cross-sectional dispersion. This relationship holds for both market and individual ETF turnover suggesting that investors are overconfident when trading in South African ETFs tracking domestic benchmarks and South African ETFs tracking international benchmarks since trading activity depends on past market returns. Additionally, using the global recession as a structural break, this study finds that investor overconfidence is more pronounced after the global recession suggesting that investors perceive ETFs as risk-reducing assets due to their diversification benefits. Overall, the results of this study indicate that the overconfidence bias has a significant influence on ETF investment choices, therefore, suggesting that the South African ETF market is inefficient since investors’ decisions are based on their biases. As a result, the effect of investor overconfidence can account for the difference between the fair value of ETFs and its current market price. This finding has implications for policymakers whose responsibility is to promote the efficiency of the South African ETF market as well as ETF investors and traders who trade in the South African ETF market.

Keywords: exchange-traded fund, market return, market turnover, overconfidence, trading activity

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1523 Implicit Transaction Costs and the Fundamental Theorems of Asset Pricing

Authors: Erindi Allaj

Abstract:

This paper studies arbitrage pricing theory in financial markets with transaction costs. We extend the existing theory to include the more realistic possibility that the price at which the investors trade is dependent on the traded volume. The investors in the market always buy at the ask and sell at the bid price. Transaction costs are composed of two terms, one is able to capture the implicit transaction costs and the other the price impact. Moreover, a new definition of a self-financing portfolio is obtained. The self-financing condition suggests that continuous trading is possible, but is restricted to predictable trading strategies which have left and right limit and finite quadratic variation. That is, predictable trading strategies of infinite variation and of finite quadratic variation are allowed in our setting. Within this framework, the existence of an equivalent probability measure is equivalent to the absence of arbitrage opportunities, so that the first fundamental theorem of asset pricing (FFTAP) holds. It is also proved that, when this probability measure is unique, any contingent claim in the market is hedgeable in an L2-sense. The price of any contingent claim is equal to the risk-neutral price. To better understand how to apply the theory proposed we provide an example with linear transaction costs.

Keywords: arbitrage pricing theory, transaction costs, fundamental theorems of arbitrage, financial markets

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1522 Estimating X-Ray Spectra for Digital Mammography by Using the Expectation Maximization Algorithm: A Monte Carlo Simulation Study

Authors: Chieh-Chun Chang, Cheng-Ting Shih, Yan-Lin Liu, Shu-Jun Chang, Jay Wu

Abstract:

With the widespread use of digital mammography (DM), radiation dose evaluation of breasts has become important. X-ray spectra are one of the key factors that influence the absorbed dose of glandular tissue. In this study, we estimated the X-ray spectrum of DM using the expectation maximization (EM) algorithm with the transmission measurement data. The interpolating polynomial model proposed by Boone was applied to generate the initial guess of the DM spectrum with the target/filter combination of Mo/Mo and the tube voltage of 26 kVp. The Monte Carlo N-particle code (MCNP5) was used to tally the transmission data through aluminum sheets of 0.2 to 3 mm. The X-ray spectrum was reconstructed by using the EM algorithm iteratively. The influence of the initial guess for EM reconstruction was evaluated. The percentage error of the average energy between the reference spectrum inputted for Monte Carlo simulation and the spectrum estimated by the EM algorithm was -0.14%. The normalized root mean square error (NRMSE) and the normalized root max square error (NRMaSE) between both spectra were 0.6% and 2.3%, respectively. We conclude that the EM algorithm with transmission measurement data is a convenient and useful tool for estimating x-ray spectra for DM in clinical practice.

Keywords: digital mammography, expectation maximization algorithm, X-Ray spectrum, X-Ray

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1521 Stability of Property (gm) under Perturbation and Spectral Properties Type Weyl Theorems

Authors: M. H. M. Rashid

Abstract:

A Banach space operator T obeys property (gm) if the isolated points of the spectrum σ(T) of T which are eigenvalues are exactly those points λ of the spectrum for which T − λI is a left Drazin invertible. In this article, we study the stability of property (gm), for a bounded operator acting on a Banach space, under perturbation by finite rank operators, by nilpotent operators, by quasi-nilpotent operators, or more generally by algebraic operators commuting with T.

Keywords: Weyl's Theorem, Weyl Spectrum, Polaroid operators, property (gm)

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1520 Numerical Simulation of Fiber Bragg Grating Spectrum for Mode-І Delamination Detection

Authors: O. Hassoon, M. Tarfoui, A. El Malk

Abstract:

Fiber Bragg optic sensor embedded in composite material to detect and monitor the damage which is occur in composite structure. In this paper we deal with the mode-Ι delamination to determine the resistance of material to crack propagation, and use the coupling mode theory and T-matrix method to simulating the FBGs spectrum for both uniform and non-uniform strain distribution. The double cantilever beam test which is modeling in FEM to determine the Longitudinal strain, there are two models which are used, the first is the global half model, and the second the sub-model to represent the FBGs with refine mesh. This method can simulate the damage in the composite structure and converting the strain to wavelength shifting of the FBG spectrum.

Keywords: fiber bragg grating, delamination detection, DCB, FBG spectrum, structure health monitoring

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1519 A Theoretical Framework on Using Social Stories with the Creative Arts for Individuals on the Autistic Spectrum

Authors: R. Bawazir, P. Jones

Abstract:

Social Stories are widely used to teach social and communication skills or concepts to individuals on the autistic spectrum. This paper presents a theoretical framework for using Social Stories in conjunction with the creative arts. The paper argues that Bandura’s social learning theory can be used to explain the mechanisms behind Social Stories and the way they influence changes in response, while Gardner’s multiple intelligences theory can be used simultaneously to demonstrate the role of the creative arts in learning. By using Social Stories with the creative arts for individuals on the autistic spectrum, the aim is to meet individual needs and help individuals with autism to develop in different areas of learning and communication.

Keywords: individuals on the autistic spectrum, social stories, the creative arts, theoretical framework

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1518 The Role of Cognitive Control and Social Camouflage Associated with Social Anxiety Autism Spectrum Conditions

Authors: Siqing Guan, Fumiyo Oshima, Eiji Shimizu, Nozomi Tomita, Toru Takahashi, Hiroaki Kumano

Abstract:

Risk factors for social anxiety in autism spectrum conditions involve executive attention, emotion regulation, and thought regulation as processes of cognitive dysregulation. Social camouflaging behaviors as strategies used to mask and/or compensate for autism characteristics during social interactions in autism spectrum conditions have also been emphasized. However, the role of cognitive dysregulation and social camouflaging related to social anxiety in autism spectrum conditions has not been clarified. Whether these factors are specific to social anxiety in autism spectrum conditions or common to social anxiety independent of autism spectrum conditions needs to be clarified. Here, we explored risk factors specific to social anxiety in autism spectrum conditions and general risk factors for social anxiety independent of autism spectrum conditions. From the Japanese participants in early adulthood (age=18~39) of the online survey in Japan, those who exceeded the Japanese version Autism-Spectrum Quotient cutoff (33 points or more )were divided into the autism spectrum conditions group (ASC; N=255, mean age=32.08, SD age=5.16)and those who did not exceed the cutoff were divided into the non-autism spectrum conditions group (Non-ASC; N=255, mean age=31.70, SD age=5.09). Using the Japanese versions of the Social Phobia Scale, the Social Interaction Anxiety Scale, and the Short Fear of Negative Evaluation Scale, a composite score for social anxiety was calculated using a method of principal. We also measured emotional control difficulties using the Difficulties in Emotion Regulation Scale, executive attention using the Effortful Control Scale for Adults, rumination using the Rumination-Reflection Questionnaire, and worry using the Penn State Worry Questionnaire. This study was passed through the review of the Ethics Committee. No conflicts of interest. Multiple regression analysis with forced entry method was used to predict social anxiety in the ASC and non-ASC groups separately, based on executive attention, emotion dysregulation, worry, rumination, and social camouflage. In the ASC group, emotion dysregulation (β=.277, p<.001), worry (β=.162, p<.05), assimilation (β=.308, p<.001) and masking (β=.275, p<.001) were significant predictors of social anxiety (F (7,247) = 45.791, p <.001, R2=.565). In the non-ASC groups,emotion dysregulation (β=.171, p<.05), worry (β=.344,p <.001), assimilation (β=.366,p <.001) and executive attention (β=-.132,p <.05) were significant predictors of social anxiety (F (7,207) =47.333, p <.001, R2=.615).The findings suggest that masking was shown to be a risk factor for social anxiety specific to autism spectrum conditions, while emotion dysregulation, worry, and assimilation were shown to be common risk factors for social anxiety, regardless of autism spectrum conditions. In addition, executive attention is a risk factor for social anxiety without autism spectrum conditions.

Keywords: autism spectrum, cognitive control, social anxiety, social camouflaging

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1517 Differential Signaling Spread-Spectrum Modulation of the In-Door LED Visible Light Wireless Communications using Mobile-Phone Camera

Authors: Shih-Hao Chen, Chi-Wai Chow

Abstract:

Visible light communication combined with spread spectrum modulation is demonstrated in this study. Differential signaling method also ensures the proposed system that can support high immunity to ambient light interference. Experiment result shows the proposed system has 6 dB gain comparing with the original On-Off Keying modulation scheme.

Keywords: Visible Light Communication (VLC), Spread Spectrum Modulation (SSM), On-Off Keying, visible light communication

Procedia PDF Downloads 483