Search results for: Economic dispatch problem

Authors: Hsuan-Ku Liu

Abstract:

In this paper, the American exchange option (AEO) valuation problem is modelled as a free boundary problem. The critical stock price for an AEO is satisfied an integral equation implicitly. When the remaining time is large enough, an asymptotic formula is provided for pricing an AEO. The numerical results reveal that our asymptotic pricing formula is robust and accurate for the long-term AEO.

Keywords: Integral equation, asymptotic solution, free boundary problem, American exchange option.

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Authors: Tunjo Peric, Zoran Babic

Abstract:

The authors of this work indicate by means of a concrete example that it is possible to apply efficaciously the method of multiple criteria programming in dealing with the problem of determining the optimal production plan for a certain period of time. The work presents: (1) the selection of optimization criteria, (2) the setting of the problem of determining an optimal production plan, (3) the setting of the model of multiple criteria programming in finding a solution to a given problem, (4) the revised surrogate trade-off method, (5) generalized multicriteria model for solving production planning problem and problem of choosing technological variants in the metal manufacturing industry. In the final part of this work the authors reflect on the application of the method of multiple criteria programming while determining the optimal production plan in manufacturing enterprises.

Keywords: multi-criteria programming, production planning, technological variant, Surrogate Worth Trade-off Method.

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Authors: Chong-Yang Qiao, Teeravarunyou Sakol

Abstract:

Current production-oriented factories need maintenance operators to work in shifts monitoring and inspecting complex systems and different equipment in the situation of mechanical breakdown. Augmented reality (AR) is an emerging technology that embeds data into the environment for situation awareness to help maintenance operators make decisions and solve problems. An application was designed to identify the problem of steam generators and inspection centrifugal pumps. The objective of this research was to find the best medium of AR and type of problem solving strategies among analogy, focal object method and mean-ends analysis. Two scenarios of inspecting leakage were temperature and vibration. Two experiments were used in usability evaluation and future innovation, which included decision-making process and problem-solving strategy. This study found that maintenance operators prefer build-in magnifier to zoom the components (55.6%), 3D exploded view to track the problem parts (50%), and line chart to find the alter data or information (61.1%). There is a significant difference in the use of analogy (44.4%), focal objects (38.9%) and mean-ends strategy (16.7%). The marked differences between maintainers and operators are of the application of a problem solving strategy. However, future work should explore multimedia information retrieval which supports maintenance operators for decision-making.

Keywords: Augmented reality, situation awareness, decision-making, problem-solving.

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Authors: Jyoti Chaturvedi Gursaran

Abstract:

Nature conducts its action in a very private manner. To reveal these actions classical science has done a great effort. But classical science can experiment only with the things that can be seen with eyes. Beyond the scope of classical science quantum science works very well. It is based on some postulates like qubit, superposition of two states, entanglement, measurement and evolution of states that are briefly described in the present paper. One of the applications of quantum computing i.e. implementation of a novel quantum evolutionary algorithm(QEA) to automate the time tabling problem of Dayalbagh Educational Institute (Deemed University) is also presented in this paper. Making a good timetable is a scheduling problem. It is NP-hard, multi-constrained, complex and a combinatorial optimization problem. The solution of this problem cannot be obtained in polynomial time. The QEA uses genetic operators on the Q-bit as well as updating operator of quantum gate which is introduced as a variation operator to converge toward better solutions.

Keywords: Quantum computing, qubit, superposition, entanglement, measurement of states, evolution of states, Scheduling problem, hard and soft constraints, evolutionary algorithm, quantum evolutionary algorithm.

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Authors: Revaz Gvelesiani

Abstract:

The intrinsic contradictions of entrepreneurship development and self-development strategies complicate the task of reaching compliance between the state economic policy and the company entrepreneurship policy: on the one hand, there is a contradiction between the social and the competitive order within economic order policy and on the other hand, the contradiction exists between entrepreneurship strategy and entrepreneurship culture within entrepreneurship policy.

Keywords: Economic Order Policy, Entrepreneurship, Development Contradictions, Self-Development Contradictions.

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Authors: Cruz Pascual, Enrique Regidor, Paloma Ortega, David Martínez, Paloma Astasio

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This paper evaluates the association between economic environment in the districts of Madrid (Spain) and physical inactivity, using income per capita as indicator of economic environment. The analysis included 6,601 individuals aged 16 to 74 years. The measure of association estimated was the prevalence odds ratio for physical inactivity by income per capita. After adjusting for sex, age, and individual socioeconomic characteristics, people living in the districts with the lowest per capita income had an odds ratio for physical inactivity 1.58 times higher (95% confidence interval 1.35 to 1.85) than those living in districts with the highest per capita income. Additional adjustment for the availability of sports facilities in each district did not decrease the magnitude of the association. These findings show that the widely believed assumption that the availability of sports and recreational facilities, as a possible explanation for the relation between economic environment and physical inactivity, cannot be considered a universal observation.

Keywords: Economic environment, physical inactivity, sports facilities, districts, Madrid, Spain

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Authors: Y. Wang

Abstract:

Traveling salesman problem (TSP) is hard to resolve when the number of cities and routes become large. The frequency graph is constructed to tackle the problem. A frequency graph maintains the topological relationships of the original weighted graph. The numbers on the edges are the frequencies of the edges emulated from the local optimal Hamiltonian paths. The simplest kind of local optimal Hamiltonian paths are computed based on the four vertices and three lines inequality. The search algorithm is given to find the optimal Hamiltonian circuit based on the frequency graph. The experiments show that the method can find the optimal Hamiltonian circuit within several trials.

Keywords: Traveling salesman problem, frequency graph, local optimal Hamiltonian path, four vertices and three lines inequality.

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Authors: Ou Xie, Zhenyu Zhao

Abstract:

In this paper, we consider the problem for identifying the unknown source in the Poisson equation. A modified Tikhonov regularization method is presented to deal with illposedness of the problem and error estimates are obtained with an a priori strategy and an a posteriori choice rule to find the regularization parameter. Numerical examples show that the proposed method is effective and stable.

Keywords: Ill-posed problem, Unknown source, Poisson equation, Tikhonov regularization method, Discrepancy principle

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Authors: C. Bruni, F. Delli Priscoli, G. Koch, I. Marchetti

Abstract:

The Connection Admission Control (CAC) problem is formulated in this paper as a discrete time optimal control problem. The control variables account for the acceptance/ rejection of new connections and forced dropping of in-progress connections. These variables are constrained to meet suitable conditions which account for the QoS requirements (Link Availability, Blocking Probability, Dropping Probability). The performance index evaluates the total throughput. At each discrete time, the problem is solved as an integer-valued linear programming one. The proposed procedure was successfully tested against suitably simulated data.

Keywords: Connection Admission Control, Optimal Control, Integer valued Linear Programming, Quality of Service Requirements, Robust Control.

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Authors: V. Vassiliou, M. Charalambides, M. Menicou

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Fish-feed is a major cost component of operating expenses for any aquaculture farm. Due to soaring prices of fish-feed ingredients, the need for better feeding schedule management has become imperative. On such factor that influences the utilization rate of fish-feed are sea currents. Up to now, practical monitoring of fishfeed loss due to sea currents is not exercised. This paper gives a description of an economic methodology that aims at quantifying the amount of fish-feed lost due to sea currents and draws on data from a Mediterranean aquaculture farm to formulate the associated model.

Keywords: Aquaculture, economic model, fish-feed loss, sea currents.

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Authors: Lisa J. Piergallini

Abstract:

This project uses panel regression analyses to investigate the relationships between geography, institutions, and economic development, as guided by the theories of the 18^th century French philosopher Montesquieu. Contemporary scholars of political economy perpetually misinterpret Montesquieu’s theories on climate, and in doing so they miss what could be the key to resolving the geography vs. institutions debate. There is a conspicuous gap in this literature, in that it does not consider whether geography and institutors might have an interactive, dynamic effect on economic development. This project seeks to bridge that gap. Data are used for all available countries over the years 1980-2013. Two interaction terms between geographic and institutional variables are employed within the empirical analyses, and these offer a unique contribution to the ongoing geography vs. institutions debate within the political economy literature. This study finds that there is indeed an interactive effect between geography and institutions, and that this interaction has a statistically significant effect on economic development. Democracy (as measured by Polity score) and rule of law and property rights (as measured by the Fraser index) have positive effects on economic development (as measured by GDP per capita), yet the magnitude of these effects are stronger in contexts where a low percent of the national population lives in the geographical tropics. This has implications for promoting economic development, and it highlights the importance of understanding geographical context.

Keywords: Montesquieu, geography, institutions, economic development, political philosophy, political economy.

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Authors: Gabriela-Alina Dumitrel, Teodor Todinca, Carmen Holotescu, Cosmina-Mariana Militaru

Abstract:

The paper presents a computational tool developed for the evaluation of technical and economic advantages of an innovative cleaning and conditioning technology of fluidized bed steam/oxygen gasifiers outlet product gas. This technology integrates into a single unit the steam gasification of biomass and the hot gas cleaning and conditioning system. Both components of the computational tool, process flowsheet and economic evaluator, have been developed under IPSEpro software. The economic model provides information that can help potential users, especially small and medium size enterprises acting in the regenerable energy field, to decide the optimal scale of a plant and to better understand both potentiality and limits of the system when applied to a wide range of conditions.

Keywords: biomass, CHP units, economic evaluation, gasification.

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Authors: Richa Grover, Rahul Grover, V. Balaji Rao, Kavish Kejriwal

Abstract:

Selection of suppliers is a crucial problem in the supply chain management. On top of that, sustainable supplier selection is the biggest challenge for the organizations. Environment protection and social problems have been of concern to society in recent years, and the traditional supplier selection does not consider about this factor; therefore, this research work focuses on introducing sustainable criteria into the structure of supplier selection criteria. Sustainable Supply Chain Management (SSCM) is the management and administration of material, information, and money flows, as well as coordination among business along the supply chain. All three dimensions - economic, environmental, and social - of sustainable development needs to be taken care of. Purpose of this research is to maximize supply chain profitability, maximize social wellbeing of supply chain and minimize environmental impacts. Problem statement is selection of suppliers in a sustainable supply chain network by ranking the suppliers against sustainable criteria identified. The aim of this research is twofold: To find out what are the sustainable parameters that can be applied to the supply chain, and to determine how these parameters can effectively be used in supplier selection. Multicriteria decision making tools will be used to rank both criteria and suppliers. AHP Analysis will be used to find out ratings for the criteria identified. It is a technique used for efficient decision making. TOPSIS will be used to find out rating for suppliers and then ranking them. TOPSIS is a MCDM problem solving method which is based on the principle that the chosen option should have the maximum distance from the negative ideal solution (NIS) and the minimum distance from the ideal solution.

Keywords: Sustainable supply chain management, supplier selection, MCDM tools, AHP analysis, TOPSIS method.

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Authors: H. Taghvafard, G. H. Erjaee

Abstract:

A method for solving linear and non-linear Goursat problem is given by using the two-dimensional differential transform method. The approximate solution of this problem is calculated in the form of a series with easily computable terms and also the exact solutions can be achieved by the known forms of the series solutions. The method can easily be applied to many linear and non-linear problems and is capable of reducing the size of computational work. Several examples are given to demonstrate the reliability and the performance of the presented method.

Keywords: Quadrature, Spline interpolation, Trapezoidal rule, Numericalintegration, Error analysis.

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Authors: Noboru Abe, Yoshinori Amai, Toshinori Nakatake, Sumio Masuda, Kazuaki Yamaguchi

Abstract:

We consider the problem of placing labels of the points on a plane. For each point, its position, the size of its label and a priority are given. Moreover, several candidates of its label positions are prespecified, and each of such label positions is assigned a priority. The objective of our problem is to maximize the total sum of priorities of placed labels and their points. By refining a labeling algorithm that can use these priorities, we propose a new heuristic algorithm which is more suitable for treating the assigned priorities.

Keywords: Map labeling, greedy algorithm, heuristic algorithm, priority.

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Authors: Parvaneh Shabanzadeh, Malik Hj Abu Hassan, Leong Wah June, Maryam Mohagheghtabar

Abstract:

Clustering is one of an interesting data mining topics that can be applied in many fields. Recently, the problem of cluster analysis is formulated as a problem of nonsmooth, nonconvex optimization, and an algorithm for solving the cluster analysis problem based on nonsmooth optimization techniques is developed. This optimization problem has a number of characteristics that make it challenging: it has many local minimum, the optimization variables can be either continuous or categorical, and there are no exact analytical derivatives. In this study we show how to apply a particular class of optimization methods known as pattern search methods to address these challenges. These methods do not explicitly use derivatives, an important feature that has not been addressed in previous studies. Results of numerical experiments are presented which demonstrate the effectiveness of the proposed method.

Keywords: Clustering functions, Non-smooth Optimization, Nonconvex Optimization, Pattern Search Method.

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Authors: Miloš Šeda

Abstract:

In this paper, we deal with the Steiner tree problem (STP) on a graph in which a fuzzy number, instead of a real number, is assigned to each edge. We propose a modification of the shortest paths approximation based on the fuzzy shortest paths (FSP) evaluations. Since a fuzzy min operation using the extension principle leads to nondominated solutions, we propose another approach to solving the FSP using Cheng's centroid point fuzzy ranking method.

Keywords: Steiner tree, single shortest path problem, fuzzyranking, binary heap, priority queue.

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Authors: Y. T. Tsai, Jin H. Huang

Abstract:

The sound pressure level (SPL) of the moving-coil loudspeaker (MCL) is often simulated and analyzed using the lumped parameter model. However, the SPL of a MCL cannot be simulated precisely in the high frequency region, because the value of cone effective area is changed due to the geometry variation in different mode shapes, it is also related to affect the acoustic radiation mass and resistance. Herein, the paper presents the inverse method which has a high ability to measure the value of cone effective area in various frequency points, also can estimate the MCL electroacoustic parameters simultaneously. The proposed inverse method comprises the direct problem, adjoint problem, and sensitivity problem in collaboration with nonlinear conjugate gradient method. Estimated values from the inverse method are validated experimentally which compared with the measured SPL curve result. Results presented in this paper not only improve the accuracy of lumped parameter model but also provide the valuable information on loudspeaker cone design.

Keywords: Inverse problem, cone effective area, loudspeaker, nonlinear conjugate gradient method.

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Authors: Ömer Faruk Baykoç, Ümit Sami Sakalli

Abstract:

In this paper, we propose a fuzzy aggregate production planning (APP) model for blending problem in a brass factory which is the problem of computing optimal amounts of raw materials for the total production of several types of brass in a period. The model has deterministic and imprecise parameters which follows triangular possibility distributions. The brass casting APP model can not always be solved by using common approaches used in the literature. Therefore a mathematical model is presented for solving this problem. In the proposed model, the Lai and Hwang-s fuzzy ranking concept is relaxed by using one constraint instead of three constraints. An application of the brass casting APP model in a brass factory shows that the proposed model successfully solves the multi-blend problem in casting process and determines the optimal raw material purchasing policies.

Keywords: Aggregate production planning, Blending, brasscasting, possibilistic programming.

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Authors: Zhenyu Zhao, Lei You

Abstract:

The numerical analytic continuation of a function f(z) = f(x + iy) on a strip is discussed in this paper. The data are only given approximately on the real axis. The periodicity of given data is assumed. A truncated Fourier spectral method has been introduced to deal with the ill-posedness of the problem. The theoretic results show that the discrepancy principle can work well for this problem. Some numerical results are also given to show the efficiency of the method.

Keywords: Analytic continuation, ill-posed problem, regularization method Fourier spectral method, the discrepancy principle.

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Authors: D.Venkatesan, K.Kannan, S. Raja Balachandar

Abstract:

In this paper a new Genetic Algorithm based on a heuristic operator and Centre of Mass selection operator (CMGA) is designed for the unbounded knapsack problem(UKP), which is NP-Hard combinatorial optimization problem. The proposed genetic algorithm is based on a heuristic operator, which utilizes problem specific knowledge. This center of mass operator when combined with other Genetic Operators forms a competitive algorithm to the existing ones. Computational results show that the proposed algorithm is capable of obtaining high quality solutions for problems of standard randomly generated knapsack instances. Comparative study of CMGA with simple GA in terms of results for unbounded knapsack instances of size up to 200 show the superiority of CMGA. Thus CMGA is an efficient tool of solving UKP and this algorithm is competitive with other Genetic Algorithms also.

Keywords: Genetic Algorithm, Unbounded Knapsack Problem, Combinatorial Optimization, Meta-Heuristic, Center of Mass

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Authors: G. Erkomaishvili, E. Kharaishvili, M. Chavleishvili, N. Sagareishvili

Abstract:

This paper discusses the current condition of tourism and its economic policy in Georgia. It analyzes and studies wellness tourism, as one of the directions of tourism; the newest niche in the wellness industry – triggering wellness resorts with medical ideology. The paper discusses the development tendencies of medical wellness resorts in Georgia and its main economic preferences. The main finding of the research is that Georgia is a unique place in the world according to the variety of medical recourses. This makes the opportunity to create and successfully operate medical wellness resorts, as well as develop it as a brand for Georgia in the world. The research represents the development strategies of tourism and its medical wellness resorts in Georgia, and offers recommendations based on the relevant conclusions.

Keywords: Economic policy of tourism, medical wellness resorts, tourism, wellness industry.

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Authors: Mustafa Resa Becan

Abstract:

The performance of a type of fuzzy sliding mode control is researched by considering the nonlinear characteristic of a missile-target interception problem to obtain a robust interception process. The variable boundary layer by using fuzzy logic is proposed to reduce the chattering around the switching surface then is applied to the interception model which was derived. The performances of the sliding mode control with constant and fuzzy boundary layer are compared at the end of the study and the results are evaluated.

Keywords: Sliding mode control, fuzzy, boundary layer, interception problem.

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Authors: K. P. K. S. Lahirushan, W. G. V. Gunasekara

Abstract:

Main purpose of this study is to identify the impact of government expenditure on economic growth in Asian Countries. Consequently, main objective is to analyze whether government expenditure causes economic growth in Asian countries vice versa and then scrutinizing long-run equilibrium relationship exists between them. The study completely based on secondary data. The methodology being quantitative that includes econometrical techniques of cointegration, panel fixed effects model and granger causality in the context of panel data of Asian countries; Singapore, Malaysia, Thailand, South Korea, Japan, China, Sri Lanka, India and Bhutan with 44 observations in each country, totaling to 396 observations from 1970 to 2013. The model used is the random effects panel OLS model. As with the above methodology, the study found the fascinating outcome. At first, empirical findings exhibit a momentous positive impact of government expenditure on Gross Domestic Production in Asian region. Secondly, government expenditure and economic growth indicate a long-run relationship in Asian countries. In conclusion, there is a unidirectional causality from economic growth to government expenditure and government expenditure to economic growth in Asian countries. Hence the study is validated that it is in line with the Keynesian theory and Wagner’s law as well. Consequently, it can be concluded that role of government would play a vital role in economic growth of Asian Countries. However; if government expenditure did not figure out with the economy’s needs it might be considerably inspiration the economy in a negative way so that society bears the costs.

Keywords: Asian Countries, Government Expenditure, Keynesian theory, Wagner’s theory, Random effects panel OLS model.

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Authors: F. Rezaie Moghaddam, J. Amani, T. Rezaie Moghaddam

Abstract:

Many computational techniques were applied to solution of heat conduction problem. Those techniques were the finite difference (FD), finite element (FE) and recently meshless methods. FE is commonly used in solution of equation of heat conduction problem based on the summation of stiffness matrix of elements and the solution of the final system of equations. Because of summation process of finite element, convergence rate was decreased. Hence in the present paper Cellular Automata (CA) approach is presented for the solution of heat conduction problem. Each cell considered as a fixed point in a regular grid lead to the solution of a system of equations is substituted by discrete systems of equations with small dimensions. Results show that CA can be used for solution of heat conduction problem.

Keywords: Heat conduction, Cellular automata, convergencerate, discrete system.

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Authors: P. Shunmugapriya, S. Kanmani, P. Jude Fredieric, U. Vignesh, J. Reman Justin, K. Vivek

Abstract:

Vehicle Routing Problem (VRP) is a complex combinatorial optimization problem and it is quite difficult to find an optimal solution consisting of a set of routes for vehicles whose total cost is minimum. Evolutionary and swarm intelligent (SI) algorithms play a vital role in solving optimization problems. While the SI algorithms perform search, the diversity between the solutions they exploit is very important. This is because of the need to avoid early convergence and to get an appropriate balance between the exploration and exploitation. Therefore, it is important to check how far the solutions are diverse. In this paper, we measure the similarity between solutions, which ABC exploits while optimizing VRP. The similar solutions found are discarded at the end of the iteration and only unique solutions are passed on to the next iteration. The bees of discarded solutions become scouts and they start searching for new solutions. This process is continued and results show that the solution is optimized at lesser number of iterations but with the overhead of computing similarity in all the iterations. The problem instance from Solomon benchmarked dataset has been used for evaluating the presented methodology.

Keywords: ABC algorithm, vehicle routing problem, optimization, Jaccard’s similarity measure.

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Authors: Hsuan-Ku Liu, Ming Long Liu

Abstract:

In this paper, we investigate the solution of a two dimensional parabolic free boundary problem. The free boundary of this problem is modelled as a nonlinear integral equation (IE). For this integral equation, we propose an asymptotic solution as time is near to maturity and develop an integral iterative method. The computational results reveal that our asymptotic solution is very close to the numerical solution as time is near to maturity.

Keywords: Integral equation, asymptotic solution, free boundary problem, American exchange option.

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Authors: G. M. Komaki, S. Mobin, E. Teymourian, S. Sheikh

Abstract:

This paper addresses minimizing the makespan of the distributed permutation flow shop scheduling problem. In this problem, there are several parallel identical factories or flowshops each with series of similar machines. Each job should be allocated to one of the factories and all of the operations of the jobs should be performed in the allocated factory. This problem has recently gained attention and due to NP-Hard nature of the problem, metaheuristic algorithms have been proposed to tackle it. Majority of the proposed algorithms require large computational time which is the main drawback. In this study, a general variable neighborhood search algorithm (GVNS) is proposed where several time-saving schemes have been incorporated into it. Also, the GVNS uses the sophisticated method to change the shaking procedure or perturbation depending on the progress of the incumbent solution to prevent stagnation of the search. The performance of the proposed algorithm is compared to the state-of-the-art algorithms based on standard benchmark instances.

Keywords: Distributed permutation flow shop, scheduling, makespan, general variable neighborhood search algorithm.

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Authors: Safdar Muhammad Usman, Youji Kohda, Katsuhiro Umemoto

Abstract:

Electronic market place plays an important intermediary role for connecting dealers and retail customers. The main aim of this paper is to design a value co-creation model in used-car auctions. More specifically, the study has been designed in order to describe the process of value co-creation in used-car auctions, to explore the co-created values in used-car auctions, and finally conclude the paper indicating the future research directions. Our analysis shows that economic values as well as non-economic values are co-created in used-car auctions. In addition, this paper contributes to the academic society broadening the view of value co-creation in service science.

Keywords: Value co-creation, Used-car auctions, Non-economic values, Service science.

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Authors: Balgaisha Mukanova, Tolkyn Mirgalikyzy

Abstract:

Theory of interpretation of electromagnetic fields studied in the electrical prospecting with direct current is mainly developed for the case of a horizontal surface observation. However in practice we often have to work in difficult terrain surface. Conducting interpretation without the influence of topography can cause non-existent anomalies on sections. This raises the problem of studying the impact of different shapes of ground surface relief on the results of electrical prospecting's research. This research examines the numerical solutions of the direct problem of electrical prospecting for two-dimensional and three-dimensional media, taking into account the terrain. The problem is solved using the method of integral equations. The density of secondary currents on the relief surface is obtained.

Keywords: Ground surface relief, method of integral equations, numerical method.

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