Search results for: Cement price

Authors: M. G. Cattaneo

Abstract:

The non-effectiveness of certain codified human rights is particularly apparent with reference to the lack of access to essential drugs in developing countries, which represents a breach of the human right to receive adequate health assistance. This paper underlines the conflict and the legal contradictions between human rights, namely health rights, international Intellectual Property Rights, in particular patent law, as well as international trade law. The paper discusses the crucial links between R&D costs for innovation, patents and new medical drugs, with the goal of reformulating the hierarchies of priorities and of interests at stake in the international intellectual property (IP) law system. Different from what happens today, International patent law should be a legal instrument apt at rebalancing an axiological asymmetry between the (conflicting) needs at stake The core argument in the paper is the proposal of an alternative pathway, namely a feasible proposal for a patent law reform. IP laws tend to balance the benefits deriving from innovation with the costs of the provided monopoly, but since developing countries and industrialized countries are in completely different political and economic situations, it is necessary to (re)modulate such exchange according to the different needs. Based on this critical analysis, the paper puts forward a proposal, called Trading Time for Space (TTS), whereby a longer time for patent exclusive life in western countries (Time) is offered to the patent holder company, in exchange for the latter selling the medical drug at cost price in developing countries (Space). Accordingly, pharmaceutical companies should sell drugs in developing countries at the cost price, or alternatively grant a free license for the sale in such countries, without any royalties or fees. However, such social service shall be duly compensated. Therefore, the consideration for such a service shall be an extension of the temporal duration of the patent’s exclusive in the country of origin that will compensate the reduced profits caused by the supply at the price cost in developing countries.

Keywords: Global health, global justice, patent law reform, access to drugs.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1191

Authors: S. Wongkoon, M. Jaroensutasinee, K. Jaroensutasinee, W. Preechaporn, S. Chumkiew

Abstract:

This study investigated the number of Aedes larvae, the key breeding sites of Aedes sp., and the relationship between climatic factors and the incidence of DHF in Samui Islands. We conducted our questionnaire and larval surveys from randomly selected 105 households in Samui Islands in July-September 2006. Pearson-s correlation coefficient was used to explore the primary association between the DHF incidence and all climatic factors. Multiple stepwise regression technique was then used to fit the statistical model. The results showed that the positive indoor containers were small jars, cement tanks, and plastic tanks. The positive outdoor containers were small jars, cement tanks, plastic tanks, used cans, tires, plastic bottles, discarded objects, pot saucers, plant pots, and areca husks. All Ae. albopictus larval indices (i.e., CI, HI, and BI) were higher than Ae. aegypti larval indices in this area. These larval indices were higher than WHO standard. This indicated a high risk of DHF transmission at Samui Islands. The multiple stepwise regression model was y = –288.80 + 11.024xmean temp. The mean temperature was positively associated with the DHF incidence in this area.

Keywords: Dengue vectors, Aedes aegypti, Aedes albopictus, Container Index, House Index, Breteau Index, Aedes indices, Climatic factors, Temperature.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1759

Authors: S. Hamid Mirmohammadi, Shahrazad Tamjidzad

Abstract:

This paper is concerned with the single-item continuous review inventory system in which demand is stochastic and discrete. The budget consumed for purchasing the ordered items is not restricted but it incurs extra cost when exceeding specific value. The unit purchasing price depends on the quantity ordered under the all-units discounts cost structure. In many actual systems, the budget as a resource which is occupied by the purchased items is limited and the system is able to confront the resource shortage by charging more costs. Thus, considering the resource shortage costs as a part of system costs, especially when the amount of resource occupied by the purchased item is influenced by quantity discounts, is well motivated by practical concerns. In this paper, an optimization problem is formulated for finding the optimal (r, Q) policy, when the system is influenced by the budget limitation and a discount pricing simultaneously. Properties of the cost function are investigated and then an algorithm based on a one-dimensional search procedure is proposed for finding an optimal (r, Q) policy which minimizes the expected system costs.

Keywords: (r, Q) policy, Stochastic demand, backorders, limited resource, quantity discounts.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1862

Authors: Areej Almalkawi, Sameer Hamadna, Parviz Soroushian, Nalin Darsana

Abstract:

The work on indigenous binders in this paper focused on the following indigenous raw materials: red clay, red lava and pumice (as primary aluminosilicate precursors), wood ash and gypsum (as supplementary minerals), and sodium sulfate and lime (as alkali activators). The experimental methods used for evaluation of these indigenous raw materials included laser granulometry, x-ray fluorescence (XRF) spectroscopy, and chemical reactivity. Formulations were devised for transforming these raw materials into alkali aluminosilicate-based hydraulic cements. These formulations were processed into hydraulic cements via simple heating and milling actions to render thermal activation, mechanochemical and size reduction effects. The resulting hydraulic cements were subjected to laser granulometry, heat of hydration and reactivity tests. These cements were also used to prepare mortar mixtures, which were evaluated via performance of compressive strength tests. The measured values of strength were correlated with the reactivity, size distribution and microstructural features of raw materials. Some of the indigenous hydraulic cements produced in this reporting period yielded viable levels of compressive strength. The correlation trends established in this work are being evaluated for development of simple and thorough methods of qualifying indigenous raw materials for use in production of indigenous hydraulic cements.

Keywords: One-part geopolymer cement, aluminosilicate precursors, thermal activation, mechanochemical.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 702

Authors: Cristian Păuna

Abstract:

In the first decades of the 21st century, in the electronic trading environment, algorithmic capital investments became the primary tool to make a profit by speculations in financial markets. A significant number of traders, private or institutional investors are participating in the capital markets every day using automated algorithms. The autonomous trading software is today a considerable part in the business intelligence system of any modern financial activity. The trading decisions and orders are made automatically by computers using different mathematical models. This paper will present one of these models called Price Prediction Line. A mathematical algorithm will be revealed to build a reliable trend line, which is the base for limit conditions and automated investment signals, the core for a computerized investment system. The paper will guide how to apply these tools to generate entry and exit investment signals, limit conditions to build a mathematical filter for the investment opportunities, and the methodology to integrate all of these in automated investment software. The paper will also present trading results obtained for the leading German financial market index with the presented methods to analyze and to compare different automated investment algorithms. It was found that a specific mathematical algorithm can be optimized and integrated into an automated trading system with good and sustained results for the leading German Market. Investment results will be compared in order to qualify the presented model. In conclusion, a 1:6.12 risk was obtained to reward ratio applying the trigonometric method to the DAX Deutscher Aktienindex on 24 months investment. These results are superior to those obtained with other similar models as this paper reveal. The general idea sustained by this paper is that the Price Prediction Line model presented is a reliable capital investment methodology that can be successfully applied to build an automated investment system with excellent results.

Keywords: Algorithmic trading, automated investment system, DAX Deutscher Aktienindex.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 696

Authors: R. Malathy

Abstract:

High performance concrete is not only characterized by its high strength, workability, and durability but also by its smartness in performance without human care since the first day. If the concrete can cure on its own without external curing without compromising its strength and durability, then it is said to be high performance self-curing concrete. In this paper, an attempt is made on the performance study of internally cured concrete using biomaterials, namely Spinacea pleracea and Calatropis gigantea as self-curing agents, and it is compared with the performance of concrete with existing self-cure chemical, namely polyethylene glycol. The present paper focuses on workability, strength, and durability study on M20, M30, and M40 grade concretes replacing 30% of fly ash for cement. The optimum dosage of Spinacea pleracea, Calatropis gigantea, and polyethylene glycol was taken as 0.6%, 0.24%, and 0.3% by weight of cement from the earlier research studies. From the slump tests performed, it was found that there is a minimum variation between conventional concrete and self-cured concrete. The strength activity index is determined by keeping compressive strength of conventionally cured concrete for 28 days as unity and observed that, for self-cured concrete, it is more than 1 after 28 days and more than 1.15 after 56 days because of secondary reaction of fly ash. The performance study of concretes in aggressive environment like acid attack, sea water attack, and chloride attack was made, and the results are positive and encouraging in bio-self-cured concretes which are ecofriendly, cost effective, and high performance materials.

Keywords: Biomaterials, Calatropis gigantea, polyethylene glycol, Spinacea oleracea, self-curing concrete.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2838

Authors: S. Moshaf, Z. Hamidi-Esfahani, M. H. Azizi

Abstract:

Xanthan gum is one of the major commercial biopolymers. Due to its excellent rheological properties xanthan gum is used in many applications, mainly in food industry. Commercial production of xanthan gum uses glucose as the carbon substrate; consequently the price of xanthan production is high. One of the ways to decrease xanthan price, is using cheaper substrate like agricultural wastes. Iran is one of the biggest date producer countries. However approximately 50% of date production is wasted annually. The goal of this study is to produce xanthan gum from waste date using Xanthomonas campestris PTCC1473 by submerged fermentation. In this study the effect of three variables including phosphor and nitrogen amount and agitation rate in three levels using response surface methodology (RSM) has been studied. Results achieved from statistical analysis Design Expert 7.0.0 software showed that xanthan increased with increasing level of phosphor. Low level of nitrogen leaded to higher xanthan production. Xanthan amount, increasing agitation had positive influence. The statistical model identified the optimum conditions nitrogen amount=3.15g/l, phosphor amount=5.03 g/l and agitation=394.8 rpm for xanthan. To model validation, experiments in optimum conditions for xanthan gum were carried out. The mean of result for xanthan was 6.72±0.26. The result was closed to the predicted value by using RSM.

Keywords: Optimization, RSM, Waste date, Xanthan gum, Xanthomonas Campestris

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2611

Authors: A. Masi, A. Digrisolo, G. Santarsiero

Abstract:

Concrete strength evaluated from compression tests on cores is affected by several factors causing differences from the in-situ strength at the location from which the core specimen was extracted. Among the factors, there is the damage possibly occurring during the drilling phase that generally leads to underestimate the actual in-situ strength. In order to quantify this effect, in this study two wide datasets have been examined, including: (i) about 500 core specimens extracted from Reinforced Concrete existing structures, and (ii) about 600 cube specimens taken during the construction of new structures in the framework of routine acceptance control. The two experimental datasets have been compared in terms of compression strength and specific weight values, accounting for the main factors affecting a concrete property, that is type and amount of cement, aggregates' grading, type and maximum size of aggregates, water/cement ratio, placing and curing modality, concrete age. The results show that the magnitude of the strength reduction due to drilling damage is strongly affected by the actual properties of concrete, being inversely proportional to its strength. Therefore, the application of a single value of the correction coefficient, as generally suggested in the technical literature and in structural codes, appears inappropriate. A set of values of the drilling damage coefficient is suggested as a function of the strength obtained from compressive tests on cores.

Keywords: RC Buildings, Assessment, In-situ concrete strength, Core testing, Drilling damage.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2059

Authors: Oluseye A. Adeleke, Mohd. F. M. Salleh

Abstract:

The performance of any cooperative communication system depends largely on the selection of a proper partner. Another important factor to consider is an efficient allocation of resource like power by the source node to help it in forwarding information to the destination. In this paper, we look at the concepts of partner selection and resource (power) allocation for a distributed communication network. A type of non-cooperative game referred to as Trade-Off game is employed so as to jointly consider the utilities of the source and relay nodes, where in this case, the source is the node that requires help with forwarding of its information while the partner is the node that is willing to help in forwarding the source node’s information, but at a price. The approach enables the source node to maximize its utility by selecting a partner node based on (i) the proximity of the partner node to the source and destination nodes, and (ii) the price the partner node will charge for the help being rendered. Our proposed scheme helps the source locate and select the relay nodes at ‘better’ locations and purchase power optimally from them. It also aids the contending relay nodes maximize their own utilities as well by asking proper prices. Our game scheme is seen to converge to unique equilibrium.

Keywords: Cooperative communication, game theory, node, power allocation, trade-off, utility.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1938

Authors: Abbaas I. Kareem, H. Nikraz

Abstract:

The use of recycled concrete aggregates (RCAs) in hot-mix asphalt (HMA) production could ease natural aggregate shortage and maintain sustainability in modern societies. However, it was the attached cement mortar and other impurities that make the RCAs behave differently than high-quality aggregates. Therefore, different upgrading treatments were suggested to enhance its properties before being used in HMA production. Disappointedly, some of these treatments had caused degradation to some RCA properties. In order to avoid degradation, a coating technique is developed. This technique is based on combining of two main treatments, so it is named as double coating technique (DCT). Dosages of 0%, 20%, 40% and 60% uncoated RCA, RCA coated with Cement Slag Paste (CSP), and Double Coated Recycled Concrete Aggregates (DCRCAs) in place of granite aggregates were evaluated. The results indicated that the DCT improves strength and reduces water absorption of the DCRCAs compared with uncoated RCAs and RCA coated with CSP. In addition, the DCRCA asphalt mixtures exhibit stability values higher than those obtained for mixes made with granite aggregates, uncoated RCAs and RCAs coated with CSP. Also, the DCRCA asphalt mixtures require less bitumen to achieve the optimum bitumen content (OBC) than those manufactured with uncoated RCA and RCA-coated with CSP. Although the results obtained were encouraging, more testing is required in order to examine the effect of the DCT on performance properties of DCRCA- asphalt mixtures such as rutting and fatigue.

Keywords: Recycled concrete aggregates, hot mix asphalt, double coating technique, aggregate crashed value, Marshall parameters.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 842

Authors: Nikolaos Georgantzis, Efi Vasileiou

Abstract:

We present results from experimental price-setting oligopolies in which green firms undertake different levels of energy-saving investments motivated by public subsidies and demand-side advantages. We find that consumers reveal higher willingness to pay for greener sellers’ products. This observation in conjunction to the fact that greener sellers set higher prices is compatible with the use and interpretation of energy-saving behaviour as a differentiation strategy. However, sellers do not exploit the resulting advantage through sufficiently high price-cost margins, because they seem trapped into “run to stay still” competition. Regarding the use of public subsidies to energy-saving sellers we uncover an undesirable crowding-out effect of consumers’ intrinsic tendency to support green manufacturers. Namely, consumers may be less willing to support a green seller whose energy-saving strategy entails a direct financial benefit. Finally, we disentangle two alternative motivations for consumer’s attractions to pro-social firms; first, the self-interested recognition of the firm’s contribution to the public and private welfare and, second, the need to compensate a firm for the cost entailed in each pro-social action. Our results show the prevalence of the former over the latter.

Keywords: Corporate social responsibility, energy savings, public good, experiments, vertical differentiation, altruism.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2115

Authors: Salem Alsanusi, Loubna Bentaher

Abstract:

Response Surface Methods (RSM) provide statistically validated predictive models that can then be manipulated for finding optimal process configurations. Variation transmitted to responses from poorly controlled process factors can be accounted for by the mathematical technique of propagation of error (POE), which facilitates ‘finding the flats’ on the surfaces generated by RSM. The dual response approach to RSM captures the standard deviation of the output as well as the average. It accounts for unknown sources of variation. Dual response plus propagation of error (POE) provides a more useful model of overall response variation. In our case, we implemented this technique in predicting compressive strength of concrete of 28 days in age. Since 28 days is quite time consuming, while it is important to ensure the quality control process. This paper investigates the potential of using design of experiments (DOE-RSM) to predict the compressive strength of concrete at 28th day. Data used for this study was carried out from experiment schemes at university of Benghazi, civil engineering department. A total of 114 sets of data were implemented. ACI mix design method was utilized for the mix design. No admixtures were used, only the main concrete mix constituents such as cement, coarseaggregate, fine aggregate and water were utilized in all mixes. Different mix proportions of the ingredients and different water cement ratio were used. The proposed mathematical models are capable of predicting the required concrete compressive strength of concrete from early ages.

Keywords: Mix proportioning, response surface methodology, compressive strength, optimal design.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2214

Authors: Carolin Lutz, Jörg Matthes, Patrick Waibel, Ulrich Precht, Krassimir Garbev, Günter Beuchle, Uwe Schweike, Peter Stemmermann, Hubert B. Keller

Abstract:

Online measurement of the product quality is a challenging task in cement production, especially in the production of Celitement, a novel environmentally friendly hydraulic binder. The mineralogy and chemical composition of clinker in ordinary Portland cement production is measured by X-ray diffraction (XRD) and X-ray fluorescence (XRF), where only crystalline constituents can be detected. But only a small part of the Celitement components can be measured via XRD, because most constituents have an amorphous structure. This paper describes the development of algorithms suitable for an on-line monitoring of the final processing step of Celitement based on NIR-data. For calibration intermediate products were dried at different temperatures and ground for variable durations. The products were analyzed using XRD and thermogravimetric analyses together with NIR-spectroscopy to investigate the dependency between the drying and the milling processes on one and the NIR-signal on the other side. As a result, different characteristic parameters have been defined. A short overview of the Celitement process and the challenging tasks of the online measurement and evaluation of the product quality will be presented. Subsequently, methods for systematic development of near-infrared calibration models and the determination of the final calibration model will be introduced. The application of the model on experimental data illustrates that NIR-spectroscopy allows for a quick and sufficiently exact determination of crucial process parameters.

Keywords: Calibration model, celitement, cementitious material, NIR spectroscopy.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1729

Authors: Sam S. Hashemi

Abstract:

The breakage of bonding between sand particles and their dislodgment from the borehole wall are among the main factors resulting in a borehole failure in poorly cemented granular formations. The grain debonding usually precedes the borehole failure and it can be considered as a sign that the onset of the borehole collapse is imminent. Detecting the bonding breakage point and introducing an appropriate failure criterion will play an important role in borehole stability analysis. To study the influence of different factors on the initiation of sand bonding breakage at the borehole wall, a series of laboratory tests was designed and conducted on poorly cemented sand samples. The total absorbed strain energy per volume of material up to the point of the observed particle debonding was computed. The results indicated that the particle bonding breakage point at the borehole wall was reached both before and after the peak strength of the thick-walled hollow cylinder specimens depending on the stress path and cement content. Three different cement contents and two borehole sizes were investigated to study the influence of the bonding strength and scale on the particle dislodgment. Test results showed that the stress path has a significant influence on the onset of the sand bonding breakage. It was shown that for various stress paths, there is a near linear relationship between the absorbed energy and the normal effective mean stress.

Keywords: Borehole stability, experimental studies, total strain energy, poorly cemented sands, particle bonding breakage.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1311

Authors: Chaiyakrit Raoupatham, Ram Hari Dhakal, Chalermchai Wanichlamlert

Abstract:

Fresh concrete has one of dynamic properties known as slump. Slump of concrete is design to compatible with placing method. Due to hydration reaction of cement, the slump of concrete is loss through time. Therefore, delayed concrete probably get reject because slump is unacceptable. In order to recover the slump of delayed concrete the second dose of superplasticizer (naphthalene based type F) is added into the system, the slump recovery can be done as long as the concrete is not setting. By adding superplasticizer as solution for recover unusable slump loss concrete may affects other concrete properties. Therefore, this paper was observed setting times and compressive strength of concrete after being re-dose with chemical admixture type F (superplasticizer, naphthalene based) for slump recovery. The concrete used in this study was fly ash concrete with fly ash replacement of 0%, 30% and 50% respectively. Concrete mix designed for test specimen was prepared with paste content (ratio of volume of cement to volume of void in the aggregate) of 1.2 and 1.3, water-to-binder ratio (w/b) range of 0.3 to 0.58, initial dose of superplasticizer (SP) range from 0.5 to 1.6%. The setting times of concrete were tested both before and after re-dosed with different amount of second dose and time of dosing. The research was concluded that addition of second dose of superplasticizer would increase both initial and final setting times accordingly to dosage of addition. As for fly ash concrete, the prolongation effect was higher as the replacement of fly ash increase. The prolongation effect can reach up to maximum about 4 hours. In case of compressive strength, the re-dosed concrete has strength fluctuation within acceptable range of ±10%.

Keywords: Compressive strength, Fly ash concrete, Second dose of superplasticizer, Slump recovery, Setting times.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1932

Authors: M. Abdullahi, S. Sadiku, Bashar S. Mohammed, J. I. Aguwa

Abstract:

The properties of hollow sandcrete blocks produced in Minna, Nigeria are presented. Sandcrete block is made of cement, water and sand binded together in certain mix proportions. For the purpose of this work, fifty (50) commercial sandcrete block industries were visited in Minna, Nigeria to obtain block samples and aggregates used for the manufacture, and to take inventory of the mix composition and the production process. Sieve analysis tests were conduction on the soil sample from various block industries to ascertain their quality to be used for block making. The mix ratios were also investigated. Five (5) nine inches (9’’ or 225mm) blocks were obtained from each block industry and tested for dimensional compliance and compressive strength. The results of the soil test shows that the grading fall within the limit for natural aggregate and can easily are used to obtain workable mix. Physical examinations of the block sizes show slight deviation from the standard requirement in NIS 87:2000. Compressive strength of hollow sandcrete blocks in range of 0.12 N/mm2 to 0.54 N/mm2 was obtained which is below the recommendable value of 3.45 N/mm2 for load bearing hollow sandcrete blocks. This indicates that these blocks are below the standard for load-bearing sandcrete blocks and cannot be used as load bearing walling units. The mix composition also indicated low cement content resulting in low compressive strength. Most of the commercial block industries visited does not take curing very serious. Water were only sprinkled ones or twice before the blocks were stacked and made readily available for sale. It is recommended that a mix ratio of 1:4 to 1:6 should be used for the production of sandcrete blocks and proper curing practice should be adhered. Blocks should also be cured for 14 days before making them available for consumers.

Keywords: Compressive strength, dimensions, mix proportions, sandcrete blocks.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1990

Authors: Cielito F. Habito, Michael O. Santos, Andres G. Victorio

Abstract:

A property-s selling price is described as the result of sequential bargaining between a buyer and a seller in an environment of asymmetric information. Hedonic housing prices are estimated based upon 17,333 records of New Zealand residential properties sold during the years 2006 and 2007.

Keywords: Housing demand, hedonics and valuation, residentialmarkets.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1386

Authors: Revoti Prasad Bora, Nikita Katyal

Abstract:

Promotion is a key element in the retail business. Thus, analysis of promotions to quantify their effectiveness in terms of Revenue and/or Margin is an essential activity in the retail industry. However, measuring the sales/revenue uplift is based on estimations, as the actual sales/revenue without the promotion is not present. Further, the presence of Halo and Cannibalization in a multiple parallel promotions’ scenario complicates the problem. Calculating Baseline by considering inter-brand/competitor items or using Halo and Cannibalization's impact on Revenue calculations by considering Baseline as an interpretation of items’ unit sales in neighboring nonpromotional weeks individually may not capture the overall Revenue uplift in the case of multiple parallel promotions. Hence, this paper proposes a Machine Learning based method for calculating the Revenue uplift by considering the Halo and Cannibalization impact on the Baseline and the Revenue. In the first section of the proposed methodology, Baseline of an item is calculated by incorporating the impact of the promotions on its related items. In the later section, the Revenue of an item is calculated by considering both Halo and Cannibalization impacts. Hence, this methodology enables correct calculation of the overall Revenue uplift due a given promotion.

Keywords: Halo, cannibalization, promotion, baseline, temporary price reduction, retail, elasticity, cross price elasticity, machine learning, random forest, linear regression.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1324

Authors: Zeynep İltüzer Samur, Gül Tekin Temur

Abstract:

Due to the increasing and varying risks that economic units face with, derivative instruments gain substantial importance, and trading volumes of derivatives have reached very significant level. Parallel with these high trading volumes, researchers have developed many different models. Some are parametric, some are nonparametric. In this study, the aim is to analyse the success of artificial neural network in pricing of options with S&P 100 index options data. Generally, the previous studies cover the data of European type call options. This study includes not only European call option but also American call and put options and European put options. Three data sets are used to perform three different ANN models. One only includes data that are directly observed from the economic environment, i.e. strike price, spot price, interest rate, maturity, type of the contract. The others include an extra input that is not an observable data but a parameter, i.e. volatility. With these detail data, the performance of ANN in put/call dimension, American/European dimension, moneyness dimension is analyzed and whether the contribution of the volatility in neural network analysis make improvement in prediction performance or not is examined. The most striking results revealed by the study is that ANN shows better performance when pricing call options compared to put options; and the use of volatility parameter as an input does not improve the performance.

Keywords: Option Pricing, Neural Network, S&P 100 Index, American/European options

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3084

Authors: Sharifullah Ahmed, Sarwar Jahan Md. Yasin

Abstract:

Shallow foundations on unimproved soft natural soils can undergo a high consolidation and secondary settlement. For low and medium rise building projects on such soil condition, pile foundation may not be cost effective. In such cases an alternative to pile foundations may be shallow strip footings placed on a double layered improved soil system soil. The upper layer of this system is untreated or cement treated compacted sand and underlying layer is natural soft clay. This system will reduce the settlement to an allowable limit. The current research has been conducted with the settlement of a rigid plane-strain strip footing of 2.5 m width placed on the surface of a soil consisting of an untreated or cement treated sand layer overlying a bed of homogeneous soft clay. The settlement of the mentioned shallow foundation has been studied considering both cases with the thicknesses of the sand layer are 0.3 to 0.9 times the width of footing. The response of the clay layer is assumed as undrained for plastic loading stages and drained during consolidation stages. The response of the sand layer is drained during all loading stages. FEM analysis was done using PLAXIS 2D Version 8.0. A natural clay deposit of 15 m thickness and 18 m width has been modeled using Hardening Soil Model, Soft Soil Model, Soft Soil Creep Model, and upper improvement layer has been modeled using only Hardening Soil Model. The groundwater level is at the top level of the clay deposit that made the system fully saturated. Parametric study has been conducted to determine the effect of thickness, density, cementation of the sand mat and density, shear strength of the soft clay layer on the settlement of strip foundation under the uniformly distributed vertical load of varying value. A set of the chart has been established for designing shallow strip footing on the sand mat over thick, soft clay deposit through obtaining the particular thickness of sand mat for particular subsoil parameter to ensure no punching shear failure and no settlement beyond allowable level. Design guideline in the form of non-dimensional charts has been developed for footing pressure equivalent to medium-rise residential or commercial building foundation with strip footing on soft inorganic Normally Consolidated (NC) soil of Bangladesh having void ratio from 1.0 to 1.45.

Keywords: Design charts, ground improvement, PLAXIS 2D, primary and secondary settlement, sand Mat, soft clay.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 670

Authors: Kuncoro Harto Widodo, Joewono Soemardjito, Dwi Ardianta Kurniawan

Abstract:

Currently, the demand for marine and fisheries commodity in Yogyakarta, Indonesia continues to increase. The existing condition shows that the aquaculture supply cannot be supplied by Yogyakarta region itself, but still need to be supported by regions outside Yogyakarta. The effort to optimize the market is initiated by reviewing and designing the supply chain of production and trade of aquaculture commodity in order to create the implementation of aquaculture production and trade commodity optimally. This formulated supply chain model indicates 4 performance indicators of measurable success in terms of: (1) efficiency; (2) flexibility; (3) responsiveness; and (4) quality. These indicators had been exercised as the success benchmarks for priority marketing management in local level as well as national level. The result of this research indicates that if the catfish fishery system is managed as business as usual then the catfish demand in Yogyakarta region will experience to increase in the future. The increase of demand is inline with the increase of number of people in Yogyakarta and also the fluctuation of catfish consumption per capita. The highest production of catfish will experience in the third year approximately 30,118 tons. Other result of the research indicates that the catfish demand in Yogyakarta region cannot be supplied yet from the local region. Therefore, to fulfill the supply from outside Yogyakarta region, the local farmers should improve the supply through land extension. The fluctuation of commodity price will experience in the future annually and the catfish supply from outside Yogyakarta region will be lowering the price in the market.

Keywords: Supply chain model, catfish, efficiency, flexibility

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3381

Authors: Bita Mashayekhi, Seyed Meisam Tabatabaie Nasab

Abstract:

Intellectual capital is one of the most valuable and important parts of the intangible assets of enterprises especially in knowledge-based enterprises. With respect to increasing gap between the market value and the book value of the companies, intellectual capital is one of the components that can be placed in this gap. This paper uses the value added efficiency of the three components, capital employed, human capital and structural capital, to measure the intellectual capital efficiency of Iranian industries groups, listed in the Tehran Stock Exchange (TSE), using a 8 years period data set from 2005 to 2012. In order to analyze the effect of intellectual capital on the market-to-book value ratio of the companies, the data set was divided into 10 industries, Banking, Pharmaceutical, Metals & Mineral Nonmetallic, Food, Computer, Building, Investments, Chemical, Cement and Automotive, and the panel data method was applied to estimating pooled OLS. The results exhibited that value added of capital employed has a positive significant relation with increasing market value in the industries, Banking, Metals & Mineral Nonmetallic, Food, Computer, Chemical and Cement, and also, showed that value added efficiency of structural capital has a positive significant relation with increasing market value in the Banking, Pharmaceutical and Computer industries groups. The results of the value added showed a negative relation with the Banking and Pharmaceutical industries groups and a positive relation with computer and Automotive industries groups. Among the studied industries, computer industry has placed the widest gap between the market value and book value in its intellectual capital.

Keywords: Capital Employed, Human Capital, Intellectual Capital, Market-to-Book Value, Structural Capital, Value Added Efficiency.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1760

Authors: Changju Lee, Seungmo Ku, Sondo Kim, Woojin Chang

Abstract:

How to detecting financial bubble? Addressing this simple question has been the focus of a vast amount of empirical research spanning almost half a century. However, financial bubble is hard to observe and varying over the time; there needs to be more research on this area. In this paper, we used abnormal difference between common stocks price and those preferred stocks price to explain financial bubble. First, we proposed the ‘W-index’ which indicates spread between common stocks and those preferred stocks in stock market. Second, to prove that this ‘W-index’ is valid for measuring financial bubble, we showed that there is an inverse relationship between this ‘W-index’ and S&P500 rate of return. Specifically, our hypothesis is that when ‘W-index’ is comparably higher than other periods, financial bubbles are added up in stock market and vice versa; according to our hypothesis, if investors made long term investments when ‘W-index’ is high, they would have negative rate of return; however, if investors made long term investments when ‘W-index’ is low, they would have positive rate of return. By comparing correlation values and adjusted R-squared values of between W-index and S&P500 return, VIX index and S&P500 return, and TED index and S&P500 return, we showed only W-index has significant relationship between S&P500 rate of return. In addition, we figured out how long investors should hold their investment position regard the effect of financial bubble. Using this W-index, investors could measure financial bubble in the market and invest with low risk.

Keywords: Financial bubbles, detection, preferred stocks, pairs trading, future return, forecast.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1131

Authors: O. Chaudhari, A. N. Ghafar, G. Zirgulis, M. Mousavi, T. Ellison, S. Pousette, P. Fontana

Abstract:

In Swedish tunnel construction, a critical issue that has been repeatedly acknowledged is corrosion and, consequently, failure of the rock bolts in rock support systems. The defective installation of rock bolts results in the formation of cavities in the cement mortar that is regularly used to fill the area under the dome plates. These voids allow for water-ingress to the rock bolt assembly, which results in corrosion of rock bolt components and eventually failure. In addition, the current installation technique consists of several manual steps with intense labor works that are usually done in uncomfortable and exhausting conditions, e.g., under the roof of the tunnels. Such intense tasks also lead to a considerable waste of materials and execution errors. Moreover, adequate quality control of the execution is hardly possible with the current technique. To overcome these issues, a non-shrinking/expansive cement-based mortar filled in the paper packaging has been developed in this study which properly fills the area under the dome plates without or with the least remaining cavities, ultimately that diminishes the potential of corrosion. This article summarizes the development process and the experimental evaluation of this technique for the installation of rock bolts. In the development process, the cementitious mortar was first developed using specific cement and shrinkage reducing/expansive additives. The mechanical and flow properties of the mortar were then evaluated using compressive strength, density, and slump flow measurement methods. In addition, isothermal calorimetry and shrinkage/expansion measurements were used to elucidate the hydration and durability attributes of the mortar. After obtaining the desired properties in both fresh and hardened conditions, the developed dry mortar was filled in specific permeable paper packaging and then submerged in water bath for specific intervals before the installation. The tests were enhanced progressively by optimizing different parameters such as shape and size of the packaging, characteristics of the paper used, immersion time in water and even some minor characteristics of the mortar. Finally, the developed prototype was tested in a lab-scale rock bolt assembly with various angles to analyze the efficiency of the method in real life scenario. The results showed that the new technique improves the performance of the rock bolts by reducing the material wastage, improving environmental performance, facilitating and accelerating the labor works, and finally enhancing the durability of the whole system. Accordingly, this approach provides an efficient alternative for the traditional way of tunnel bolt installation with considerable advantages for the Swedish tunneling industry.

Keywords: corrosion, durability, mortar, rock bolt

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 419

Authors: Yong-Sung Kim, Je-Seok Shin, Ho-Jun Jo Jin-O Kim

Abstract:

Home Energy Management System (HEMS), which makes the residential consumers, contribute to the demand response is attracting attention in recent years. An aim of HEMS is to minimize their electricity cost by controlling the use of their appliances according to electricity price. The use of appliances in HEMS may be affected by some conditions such as external temperature and electricity price. Therefore, the user’s usage pattern of appliances should be modeled according to the external conditions, and the resultant usage pattern is related to the user’s comfortability on use of each appliances. This paper proposes a methodology to model the usage pattern based on the historical data with the copula function. Through copula function, the usage range of each appliance can be obtained and is able to satisfy the appropriate user’s comfort according to the external conditions for next day. Within the usage range, an optimal scheduling for appliances would be conducted so as to minimize an electricity cost with considering user’s comfort. Among the home appliance, electric heater (EH) is a representative appliance, which is affected by the external temperature. In this paper, an optimal scheduling algorithm for an electric heater (EH) is addressed based on the method of branch and bound. As a result, scenarios for the EH usage are obtained according to user’s comfort levels and then the residential consumer would select the best scenario. The case study shows the effects of the proposed algorithm compared with the traditional operation of the EH, and it represents impacts of the comfort level on the scheduling result.

Keywords: Load scheduling, usage pattern, user’s comfort, copula function, branch, bound, electric heater.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2075

Authors: P. K. Sarkar, Amit Kumar Jain

Abstract:

The demand for Urban transportation is characterised by a large scale temporal and spatial variations which causes heavy congestion inside metro trains in peak hours near Centre Business District (CBD) of the city. The conventional approach to address peak hour congestion, metro trains has been to increase the supply by way of introduction of more trains, increasing the length of the trains, optimising the time table to increase the capacity of the system. However, there is a limitation of supply side measures determined by the design capacity of the systems beyond which any addition in the capacity requires huge capital investments. The demand side interventions are essentially required to actually spread the demand across the time and space. In this study, an attempt has been made to identify the potential Transport Demand Management tools applicable to Urban Rail Transportation systems with a special focus on differential pricing. A conceptual price elasticity model has been developed to analyse the effect of various combinations of peak and nonpeak hoursfares on demands. The elasticity values for peak hour, nonpeak hour and cross elasticity have been assumed from the relevant literature available in the field. The conceptual price elasticity model so developed is based on assumptions which need to be validated with actual values of elasticities for different segments of passengers. Once validated, the model can be used to determine the peak and nonpeak hour fares with an objective to increase overall ridership, revenue, demand levelling and optimal utilisation of assets.

Keywords: Congestion, differential pricing, elasticity, transport demand management, urban transportation.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1686

Authors: D. Mowla, N. Rasti, P. Keshavarz

Abstract:

Reduction of fossil fuels sources, increasing of pollution gases emission, and global warming effects increase the demand of renewable fuels. One of the main candidates of alternative fuels is biodiesel. Biodiesel limits greenhouse gas effects due to the closed CO₂ cycle. Biodiesel has more biodegradability, lower combustion emissions such as CO, SO_x, HC, PM and lower toxicity than petro diesel. However, biodiesel has high production cost due to high price of plant oils as raw material. So, the utilization of waste cooking oils (WCOs) as feedstock, due to their low price and disposal problems reduce biodiesel production cost. In this study, production of biodiesel by transesterification of methanol and WCO using modified sodic potassic (SP) clinoptilolite zeolite and sodic potassic calcic (SPC) clinoptilolite zeolite as heterogeneous catalysts have been investigated. These natural clinoptilolite zeolites were modified by KOH solution to increase the site activity. The optimum biodiesel yields for SP clinoptilolite and SPC clinoptilolite were 95.8% and 94.8%, respectively. Produced biodiesel were analyzed and compared with petro diesel and ASTM limits. The properties of produced biodiesel confirm well with ASTM limits. The density, kinematic viscosity, cetane index, flash point, cloud point, and pour point of produced biodiesel were all higher than petro diesel but its acid value was lower than petro diesel. Finally, the reusability and regeneration of catalysts were investigated. The results indicated that the spent zeolites cannot be reused directly for the transesterification, but they can be regenerated easily and can obtain high activity.

Keywords: Biodiesel, renewable fuel, transesterification, waste cooking oil.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1481

Authors: G. Martino, F. Silva, E. Marchal

Abstract:

The control over delivered iron ore blend characteristics is one of the most important aspects of the mining business. The iron ore price is a function of its composition, which is the outcome of the beneficiation process. So, end-to-end integrated planning of mine operations can reduce risks of penalties on the iron ore price. In a standard iron mining company, the production chain is composed of mining, ore beneficiation, and client supply. When mine planning and client supply decisions are made uncoordinated, the beneficiation plant struggles to deliver the best blend possible. Technological improvements in several fields allowed bridging the gap between departments and boosting integrated decision-making processes. Clusterization and classification algorithms over historical production data generate reasonable previsions for quality and volume of iron ore produced for each pile of run-of-mine (ROM) processed. Mathematical modeling can use those deterministic relations to propose iron ore blends that better-fit specifications within a delivery schedule. Additionally, a model capable of representing the whole production chain can clearly compare the overall impact of different decisions in the process. This study shows how flexibilization combined with a planning optimization model between the mine and the ore beneficiation processes can reduce risks of out of specification deliveries. The model capabilities are illustrated on a hypothetical iron ore mine with magnetic separation process. Finally, this study shows ways of cost reduction or profit increase by optimizing process indicators across the production chain and integrating the different plannings with the sales decisions.

Keywords: Clusterization and classification algorithms, integrated planning, optimization, mathematical modeling, penalty minimization.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 645

Authors: M. A. Rashed, A. S. Mansour, H. Faris, W. Afify

Abstract:

The calcarenites carbonate rocks of the Quaternary ridges, which extend along the northwestern Mediterranean coastal plain of Egypt, represent an excellent model for the transformation of loose sediments to real sedimentary rocks by the different stages of meteoric diagenesis. The depositional and diagenetic fabrics of the rocks, in addition to the strata orientation, highly affect their ultimate compressive strength and other geotechnical properties.

There is a marked increase in the compressive strength (UCS) from the first to the fourth ridge rock samples. The lowest values are related to the loose packing, weakly cemented aragonitic ooid sediments with high porosity, besides the irregularly distributed of cement, which result in decreasing the ability of these rocks to withstand crushing under direct pressure. The high (UCS) values are attributed to the low porosity, the presence of micritic cement, the reduction in grain size and the occurrence of micritization and calcretization processes.

The strata orientation has a notable effect on the measured (UCS). The lowest values have been recorded for the samples cored in the inclined direction; whereas the highest values have been noticed in most samples cored in the vertical and parallel directions to bedding plane. In case of the inclined direction, the bedding planes were oriented close to the plane of maximum shear stress. The lowest and highest anisotropy values have been recorded for the first and the third ridges rock samples, respectively, which may attributed to the relatively homogeneity and well sorted grainstone of the first ridge rock samples, and relatively heterogeneity in grain and pore size distribution and degree of cementation of the third ridge rock samples, besides, the abundance of shell fragments with intraparticle pore spaces, which may produce lines of weakness within the rock.

Keywords: Compressive strength, Anisotropy, Calcarenites, Egypt.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4131

Authors: Chih-Hsiang Chang, I-Fan Ho

Abstract:

This study examines the credibility of the signaling as explanation for IPO initial underpricing. Findings reveal the initial underpricing and the long-term underperformance of IPOs in Taiwan. However, we only find weak support for signaling as explanation of IPO underpricing.

Keywords: Signaling, IPO initial underpricing, IPO long-term underperformance, Taiwan’s stock market.

Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2473