Search results for: pricing European options

Authors: Irisa Murniece, Daina Karklina, Ruta Galoburda

Abstract:

From food consumption surveys has been found that potato consumption comparing to other European countries is one of the highest. Hence acrylamide (AA) intake coming from fried potatoes in population might be high as well. The aim of the research was to determine acrylamide content and estimate intake of acrylamide from roasted potatoes bred and cultivated in Latvia. Five common Latvian potato varieties were selected: Lenora, Brasla, Imanta, Zile, and Madara. A two-year research was conducted during two periods: just after harvesting and after six months of storage. Time and temperature (210 ± 5°C) was recorded during frying. AA was extracted from potatoes by solid phase extraction and AA content was determined by LC-MS/MS. estimated intake of acrylamide ranges from 0.012 to 0.496μgkg-1 BW per day.

Keywords: potato, roasting, variety, acrylamide, Latvia, risk assessment.

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Authors: Alka Obadić

Abstract:

The research concentrates on the role of tourism in generating female employment and on impact of gender discrimination in tourism sector. Unfortunately, in many countries there are still some barriers to the inclusion of women at all hierarchical levels of tourism labor market. Research analysis focuses on EU countries where tourism is a main employer of women. The analysis shows that women represent over third persons employed in the non-financial business economy and almost two thirds in core tourism activities. Women's gross hourly earnings in accommodation and food services were below those of men in the European Union and only countries who recorded increase of gender pay gap from the beginning of crisis are Bulgaria and Croatia. Women in tourism industry are still overrepresented in lower status jobs with fewer opportunities for career progression and are often treated unequally.

Keywords: Employment, gender discrimination, tourism, women’s participation.

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Authors: I. Lucas, N. Schomberg, F-A. Couturier

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Most empirical studies have analyzed how liquidity risks faced by individual institutions turn into systemic risk. Recent banking crisis has highlighted the importance of grasping and controlling the systemic risk, and the acceptance by Central Banks to ease their monetary policies for saving default or illiquid banks. This last point shows that banks would pay less attention to liquidity risk which, in turn, can become a new important channel of loss. The financial regulation focuses on the most important and “systemic” banks in the global network. However, to quantify the expected loss associated with liquidity risk, it is worth to analyze sensitivity to this channel for the various elements of the global bank network. A small bank is not considered as potentially systemic; however the interaction of small banks all together can become a systemic element. This paper analyzes the impact of medium and small banks interaction on a set of banks which is considered as the core of the network. The proposed method uses the structure of agent-based model in a two-class environment. In first class, the data from actual balance sheets of 22 large and systemic banks (such as BNP Paribas or Barclays) are collected. In second one, to model a network as closely as possible to actual interbank market, 578 fictitious banks smaller than the ones belonging to first class have been split into two groups of small and medium ones. All banks are active on the European interbank network and have deposit and market activity. A simulation of 12 three month periods representing a midterm time interval three years is projected. In each period, there is a set of behavioral descriptions: repayment of matured loans, liquidation of deposits, income from securities, collection of new deposits, new demands of credit, and securities sale. The last two actions are part of refunding process developed in this paper. To strengthen reliability of proposed model, random parameters dynamics are managed with stochastic equations as rates the variations of which are generated by Vasicek model. The Central Bank is considered as the lender of last resort which allows banks to borrow at REPO rate and some ejection conditions of banks from the system are introduced.

Liquidity crunch due to exogenous crisis is simulated in the first class and the loss impact on other bank classes is analyzed though aggregate values representing the aggregate of loans and/or the aggregate of borrowing between classes. It is mainly shown that the three groups of European interbank network do not have the same response, and that intermediate banks are the most sensitive to liquidity risk.

Keywords: Systemic Risk, Financial Contagion, Liquidity Risk, Interbank Market, Network Model.

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Authors: G.Kabashi, K.Kadriu, A.Gashi, S.Kabashi, G, Pula, V.Komoni

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This paper focuses on PSS/E modeling of wind farms of Doubly-fed Induction Generator (DFIG) type and their impact on issues of power system operation. Since Wind Turbine Generators (WTG) don-t have the same characteristics as synchronous generators, the appropriate modeling of wind farms is essential for transmission system operators to analyze the best options of transmission grid reinforcements as well as to evaluate the wind power impact on reliability and security of supply. With the high excepted penetration of wind power into the power system a simultaneous loss of Wind Farm generation will put at risk power system security and reliability. Therefore, the main wind grid code requirements concern the fault ride through capability and frequency operation range of wind turbines. In case of grid faults wind turbines have to supply a definite reactive power depending on the instantaneous voltage and to return quickly to normal operation.

Keywords: Power System transients, PSS/E dynamic simulationDouble-fed Induction Generator.

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Authors: Paola Gattinoni, Laura Scesi

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According to the European laws, there is the possibility of reusing the washing wastes for the environmental requalification of quarry lakes. The paper deals with the hydrogeological aspects involved in this possibility, as the introduction of finest wastes in the quarry lakes can generate alterations of the hydrogeological setting of the area, and problems for the future accessibility of the zone. To evaluate the hydrogeological compatibility of the washing wastes reuse in quarry lakes a groundwater numerical model was carried out, pointing out both the hydrogeological feasibility of this intervention and some guide lines for its optimization, in terms of inflow point with regard the groundwater flow direction and loss of volume in the quarry lake.

Keywords: Groundwater numerical modeling, hydrogeologicalalteration, quarry lake, silty-clay wastes.

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Authors: F.C. Amadi, G. C. Enyi, G. G. Nasr

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Hydraulic fracturing is one of the most important stimulation techniques available to the petroleum engineer to extract hydrocarbons in tight gas sandstones. It allows more oil and gas production in tight reservoirs as compared to conventional means. The main aim of the study is to optimize the hydraulic fracturing as technique and for this purpose three multi-zones layer formation is considered and fractured contemporaneously. The three zones are named as Zone1 (upper zone), Zone2 (middle zone) and Zone3 (lower zone) respectively and they all occur in shale rock. Simulation was performed with Mfrac integrated software which gives a variety of 3D fracture options. This simulation process yielded an average fracture efficiency of 93.8%for the three respective zones and an increase of the average permeability of the rock system. An average fracture length of 909 ft with net height (propped height) of 210 ft (average) was achieved. Optimum fracturing results was also achieved with maximum fracture width of 0.379 inches at an injection rate of 13.01 bpm with 17995 Mscf of gas production.

Keywords: Hydraulic fracturing, Mfrac, Optimisation, Tight reservoir.

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Authors: George Yungchih Wang

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This paper argues that increased uncertainty, in certain situations, may actually encourage investment. Since earlier studies mostly base their arguments on the assumption of geometric Brownian motion, the study extends the assumption to alternative stochastic processes, such as mixed diffusion-jump, mean-reverting process, and jump amplitude process. A general approach of Monte Carlo simulation is developed to derive optimal investment trigger for the situation that the closed-form solution could not be readily obtained under the assumption of alternative process. The main finding is that the overall effect of uncertainty on investment is interpreted by the probability of investing, and the relationship appears to be an invested U-shaped curve between uncertainty and investment. The implication is that uncertainty does not always discourage investment even under several sources of uncertainty. Furthermore, high-risk projects are not always dominated by low-risk projects because the high-risk projects may have a positive realization effect on encouraging investment.

Keywords: real options, geometric Brownian motion, mixeddiffusion-jump process, mean- reverting process, jump amplitudeprocess

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Authors: Ingrid Göpfert, Michael Stephan, Wanja Wellbrock, Malte Ackermann

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Empirical insights into the implementation of logistics competencies at the top management level are scarce. This paper addresses this issue with an explorative approach which is based on a dataset of 872 observations in the years 2000, 2004 and 2008 using quantitative content analysis from annual reports of the 500 publicly listed firms with the highest global research and development expenditures according to the British Department for Business Innovation and Skills. We find that logistics competencies are more pronounced in Asian companies than in their European or American counterparts. On an industrial level the results are quite mixed. Using partial point-biserial correlations we show that logistics competencies are positively related to financial performance.

Keywords: Logistics, supply chain management, content analysis, executive boards, multinational corporations.

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Authors: Abdullah A Wardak

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This paper describes how the correct endian mode of the TMS320C6713 DSK board can be identified. It also explains how the TMS320C6713 DSK board can be used in the little endian and in the big endian modes for assembly language programming in particular and for signal processing in general. Similarly, it discusses how crucially important it is for a user of the TMS320C6713 DSK board to identify the mode of operation and then use it correctly during the development stages of the assembly language programming; otherwise, it will cause unnecessary confusion and erroneous results as far as storing data into the memory and loading data from the memory is concerned. Furthermore, it highlights and strongly recommends to the users of the TMS320C6713 DSK board to be aware of the availability and importance of various display options in the Code Composer Studio (CCS) for correctly interpreting and displaying the desired data in the memory. The information presented in this paper will be of great importance and interest to those practitioners and developers who wants to use the TMS320C6713 DSK board for assembly language programming as well as input-output signal processing manipulations. Finally, examples that clearly illustrate the concept are presented.

Keywords: Assembly language programming, big endian mode, little endian mode, signal processing.

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Authors: B. Bakken, O. Boe

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The Norwegian Military Academy (Army) has initiated a project with the main ambition to explore possible avenues to enhancing operational effectiveness through an increased use of simulation-based training and exercises. Within a cost/benefit framework, we discuss opportunities and limitations of vertical and horizontal integration of the existing tactical training system. Vertical integration implies expanding the existing training system to span the full range of training from tactical level (platoon, company) to command and staff level (battalion, brigade). Horizontal integration means including other domains than army tactics and staff procedures in the training, such as military ethics, foreign languages, leadership and decision making. We discuss each of the integration options with respect to purpose and content of training, "best practice" for organising and conducting simulation-based training, and suggest how to evaluate training procedures and measure learning outcomes. We conclude by giving guidelines towards further explorative work and possible implementation.

Keywords: Effectiveness, integration, simulation, training.

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Authors: Francesco Venuti, Simona Alfiero

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The aim of this paper is to develop an empirical research on the nature and consequences of corporate governance on Eurozone Insurance Industry risk taking attitude. More particularly, we analyzed the effect of public ownership on risk taking with respect to privately held Insurance Companies. We also analyzed the effects on risk taking attitude of different degrees of ownership concentration, directors compensation, and the dimension/diversity of the Board of Directors. Our results provide quite strong evidence that, coherently with the Agency Theory, publicly traded insurance companies with more concentrated ownership are less risky than the corresponding privately held.

Keywords: Agency theory, corporate governance, insurance companies, risk taking.

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Authors: Hamoud Al-Hadrami, Hossein Emadi, Athar Hussain

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Green hydrogen is quickly emerging as a new source of the renewable energy for the world. Hydrogen production using water electrolysis is deemed as an environmentally friendly and safe source of energy for transportation and other industries. However, storing high volumes of hydrogen seems to be a significant challenge. Abandoned hydrocarbon reservoirs are considered as viable hydrogen storage options because of the availability of the required infrastructure such as wells and surface facilities. However, long-term wellbore integrity in these wells could be a serious challenge. The aim of this research is to investigate the effect of stored hydrogen on the wellbore integrity such as casing cement. The methodology is to experimentally expose hydrogen to wet and dry cement and measure the impact on cement rheological and mechanical properties. Hydrogen reduces the compressive strength of a set cement if it gets in contact with the cement slurry. Also, mixing hydrogen with cement slurry slightly increases its density and rheological properties which need to be considered to have a successful primary cementing operation.

Keywords: Green hydrogen, underground storage, wellbore integrity, cement, compressive strength.

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Authors: Stefano Degrassi, Marco Raciti Castelli, Ernesto Benini

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Since the European renewable energy directives set the target for 22.1% of electricity generation to be supplied by 2010 [1], there has been increased interest in using green technologies also within the urban enviroment. The most commonly considered installations are solar thermal and solar photovoltaics. Nevertheless, as observed by Bahaj et al. [2], small scale turbines can reduce the built enviroment related CO2 emissions. Thus, in the last few years, an increasing number of manufacturers have developed small wind turbines specifically designed for the built enviroment. The present work focuses on the integration into architectural systems of such installations and presents a survey of successful case studies.

Keywords: Wind turbines, architectural integration, wind resources, urban areas, built enviroment, renewable technologies.

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Authors: George Cristian Gruia, Michal Kavan

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The article describes a case study on one of Czech Republic-s manufacturing middle size enterprises (ME), where due to the European financial crisis, production lines had to be redesigned and optimized in order to minimize the total costs of the production of goods. It is considered an optimization problem of minimizing the total cost of the work load, according to the costs of the possible locations of the workplaces, with an application of the Greedy algorithm and a partial analogy to a Set Packing Problem. The displacement of working tables in a company should be as a one-toone monotone increasing function in order for the total costs of production of the goods to be at minimum. We use a heuristic approach with greedy algorithm for solving this linear optimization problem, regardless the possible greediness which may appear and we apply it in a Czech ME.

Keywords: Czech, greedy algorithm, minimize, total costs.

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Authors: Afonso, S. C., Fernandes, P. O., Monte, A. P.

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Modern times call organizations to have an active role in the social arena, through Corporate Social Responsibility (CSR). The objective of this research was to test the hypothesis that there is a positive relation between social performance and economic performance, and if there is a positive correlation between social performance and financial-economic performance. To test these theories a measure of social performance, based on the Green Book of Commission of the European Community, was used in a group of nineteen Portuguese top companies, listed on the PSI 20 index, through a period of five years, since 2005 to 2009. A clusters analysis was applied to group companies by their social performance and to compare and correlate their economic performance. Results indicate that companies that had a better social performance are not the ones who had a better economic performance, and suggest that the middle path might provide a good relation CSR-Economic performance, as a basis to a sustainable development.

Keywords: Corporate Social Responsibility, Economic Performance, Win-Win relationship

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Authors: Brian Ceh, Alison Jackson-Holland

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Food deserts are a reality in some cities. These deserts can be described as a shortage of healthy food options within close proximity of consumers. The shortage in this case is typically facilitated by a lack of stores in an urban area that provide adequate fruit and vegetable choices. This study explores new avenues to better understand food deserts by examining modes of transportation that are available to shoppers or consumers, e.g. walking, automobile, or public transit. Further, this study is unique in that it not only explores the location of large grocery stores, but small grocery and convenience stores too. In this study, the relationship between some socio-economic indicators, such as personal income, are also explored to determine any possible association with food deserts. In addition, to help facilitate our understanding of food deserts, complex network spatial models that are built on adequate algorithms are used to investigate the possibility of food deserts in the city of Hamilton, Canada. It is found that Hamilton, Canada is adequate serviced by retailers who provide healthy food choices and that the food desert phenomena is almost absent.

Keywords: Canada, desert, food, Hamilton, stores.

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Authors: Mohammed I. Abouheaf, Sofie Haesaert, Wei-Jen Lee, Frank L. Lewis

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Economic Dispatch is one of the most important power system management tools. It is used to allocate an amount of power generation to the generating units to meet the load demand. The Economic Dispatch problem is a large scale nonlinear constrained optimization problem. In general, heuristic optimization techniques are used to solve non-convex Economic Dispatch problem. In this paper, ideas from Reinforcement Learning are proposed to solve the non-convex Economic Dispatch problem. Q-Learning is a reinforcement learning techniques where each generating unit learn the optimal schedule of the generated power that minimizes the generation cost function. The eligibility traces are used to speed up the Q-Learning process. Q-Learning with eligibility traces is used to solve Economic Dispatch problems with valve point loading effect, multiple fuel options, and power transmission losses.

Keywords: Economic Dispatch, Non-Convex Cost Functions, Valve Point Loading Effect, Q-Learning, Eligibility Traces.

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Authors: C. Ardil

Abstract:

The decision to select an unmanned combat aircraft is complicated since several options and conflicting criteria must be considered at simultaneously. When making multiple criteria decision, it is important to consider the selected evaluation criteria, including priceability, payloadability, stealthability, speedability , and survivability. The fundamental goal of the study is to select the best unmanned combat aircraft by taking these evaluation criteria into account. The optimal aircraft was chosen using the fuzzy proximity measure method, which enables decision-makers to designate preferences as standard fuzzy set numbers during the multiple criteria decision-making process. To assess the applicability of the proposed approach, a numerical example is provided. Finally, by comparing determined unmanned combat aircraft, the proposed method produced a successful application, and the best aircraft was selected.

Keywords: standard fuzzy sets (SFS), unmanned combat aircraft selection, multiple criteria decision making (MCDM), multiple criteria group decision making (MCGDM), proximity measure method (PMM)

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Authors: Sanjeev Kumar Appicharla

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This paper presents the results of the modelling and analysis of the European Railway Traffic Management (ERTMS) safety critical incident to raise awareness of biases in systems engineering process on the Cambrian Railway in the UK using the RAIB 17/2019 as a primary input. The RAIB, the UK independent accident investigator, published the Report- RAIB 17/2019 giving the details of their investigation of the focal event in the form of immediate cause, causal factors and underlying factors and recommendations to prevent a repeat of the safety-critical incident on the Cambrian Line. The Systems for Investigation of Railway Interfaces (SIRI) is the Methodology used to model and analyse the safety-critical incident. The SIRI Methodology uses the Swiss Cheese Model to model the incident and identify latent failure conditions (potentially less than adequate conditions) by means of the Management Oversight and Risk Tree technique. The benefits of the SIRI Methodology are threefold: first is that it incorporates “Heuristics and Biases” approach, in the Management Oversight and Risk Tree technique to identify systematic errors. Civil engineering and programme management railway professionals are aware of role “optimism bias” plays in programme cost overruns and are aware of bow tie (fault and event tree) model-based safety risk modelling technique. However, the role of systematic errors due to “Heuristics and Biases” is not appreciated as yet. This overcomes the problems of omission of human and organisational factors from accident analysis. Second, the scope of the investigation includes all levels of the socio-technical system, including government, regulatory, railway safety bodies, duty holders, signalling firms and transport planners, and front-line staff such that lessons learned at the decision making and implementation level as well. Third, the author’s past accident case studies are supplemented with research pieces of evidence drawn from the practitioner’s and academic researchers’ publications as well. This is to discuss the role of system thinking to improve the decision making and risk management processes and practices in the IEC 15288 Systems Engineering standard, and in the industrial context such as the GB railways and Artificial Intelligence (AI) contexts as well.

Keywords: Accident analysis, AI algorithm internal audit, bounded rationality, Byzantine failures, heuristics and biases approach.

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Authors: Jordan Georgiev Deliversky

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Human trafficking and smuggling of migrants are criminal activities, which are on the rise over recent years. The number of legal migrants arrived in Europe from outside the European Union are far less than those who want to come and settle in Europe. The objective of this paper is to present the impact on economic and social life of significant measures influencing the smuggling of migrants. The analysis is focused on various complex factors which have multiple origins and are highly influential as regard to the process of migration and the smuggling of migrants. The smuggling of migrants is a criminal activity, directly related to migration. The main results show that often the routes chosen for smuggling of migrants are circuitous, as smugglers carefully avoid strictly controlled roads, checkpoints, and countries or jurisdictions where there is efficiency of justice, with particular emphasis on the law on trafficking of persons and smuggling of migrants.

Keywords: Corruption, migration, security, smuggling.

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Authors: Dimitrios J. Dimitriou, Maria F. Sartzetaki

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Transport infrastructures are high-cost, long-term investments that serve as vital foundations for the operation of a region or nation and are essential to a country’s or business’s economic development and prosperity, by improving well-being and generating jobs and income. The development of appropriate financing options is of key importance in the decision making process in order develop viable transport infrastructures. The development of transport infrastructure has increasingly been shifting toward alternative methods of project financing such as Public Private Partnership (PPPs) and hybrid forms. In this paper, a methodological decision-making framework based on the evaluation of the financial viability of transportation infrastructure for different financial schemes is presented. The framework leads to an assessment of the financial viability which can be achieved by performing various financing scenarios analyses. To illustrate the application of the proposed methodology, a case study of rail transport infrastructure financing scenario analysis in Greece is developed.

Keywords: Rail transport infrastructure; financial viability, scenario analysis, rail project feasibility.

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Authors: H. Soleimanjahi, M. J. Nategh, S. Falahi

Abstract:

Deciding the numerous parameters involved in designing a competent artificial neural network is a complicated task. The existence of several options for selecting an appropriate architecture for neural network adds to this complexity, especially when different applications of heterogeneous natures are concerned. Two completely different applications in engineering and medical science were selected in the present study including prediction of workpiece's surface roughness in ultrasonic-vibration assisted turning and papilloma viruses oncogenicity. Several neural network architectures with different parameters were developed for each application and the results were compared. It was illustrated in this paper that some applications such as the first one mentioned above are apt to be modeled by a single network with sufficient accuracy, whereas others such as the second application can be best modeled by different expert networks for different ranges of output. Development of knowledge about the essentials of neural networks for different applications is regarded as the cornerstone of multidisciplinary network design programs to be developed as a means of reducing inconsistencies and the burden of the user intervention.

Keywords: Artificial Neural Network, Malignancy Diagnosis, Papilloma Viruses Oncogenicity, Surface Roughness, UltrasonicVibration-Assisted Turning.

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Authors: A. Chirita, L. Alexandru, D. Marcoci, C. Ene-Draghici

Abstract:

Minor law breaking seems more and more to be a part of adolescence behavior. An important risk factor which seems to influence delinquency appears to be the socio-economic one. According to Romanian statistics, during the first six months of 2012, 1,378 minors have committed various crimes, the most common being theft, sexual offenses and violent assaults. Drug-related offenses did not reach the gravity of those from high income countries of the European Union, but have a continuous upward during the last years. The aim of our research was to examine whether delinquency in adolescence is correlated to mental disorders or socio-economic and familial factors. Forensic psychiatric expertise was performed to 79 adolescents who committed offenses between 01 January 2012 and 31 December 2012. Teenagers, with ages between 12 and 17, were examined by day hospitalization in the University Clinic of Psychiatry Craiova.

Keywords: Adolescents, criminal behavior, mental illness.

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Authors: Roy Fritzsche, Rainer Lasch

Abstract:

Avoidable unscheduled maintenance events and unnecessary spare parts deliveries are mostly caused by an incorrect choice of the underlying maintenance strategy. For a faster and more efficient supply of spare parts for aircrafts of an airline we examine options for improving the underlying logistics network integrated in an existing aviation industry network. This paper presents a dynamic prediction model as decision support for maintenance method selection considering requirements of an entire flight network. The objective is to guarantee a high supply of spare parts by an optimal interaction of various network levels and thus to reduce unscheduled maintenance events and minimize total costs. By using a prognostics-based preventive maintenance strategy unscheduled component failures are avoided for an increase in availability and reliability of the entire system. The model is intended for use in an aviation company that utilizes a structured planning process based on collected failures data of components.

Keywords: Aviation industry, Prognosis, Reliability, Preventive maintenance.

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Authors: K. Dimitropoulos, N. Grammalidis, I. Gragopoulos, H. Gao, Th. Heuer, M. Weinmann, S. Voit, C. Stockhammer, U. Hartmann, N. Pavlidou

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Existing ground movement surveillance technologies at airports are subjected to limitations due to shadowing effects or multiple reflections. Therefore, there is a strong demand for a new sensing technology, which will be cost effective and will provide detection of non-cooperative targets under any weather conditions. This paper aims to present a new intelligent system, developed within the framework of the EC-funded ISMAEL project, which is based on a new magnetic sensing technology and provides detection, tracking and automatic classification of targets moving on the airport surface. The system is currently being installed at two European airports. Initial experimental results under real airport traffic demonstrate the great potential of the proposed system.

Keywords: Air traffic management, magnetic sensors, multitracking, A-SMGCS.

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Authors: C. Ardil

Abstract:

Using the aid of Hausdorff distance function and Minkowski distance function, this study proposes a novel method for selecting combat aircraft for Air Force. In order to do this, the proximity measure method was developed with determinate fuzzy degrees based on the relationship between attributes and combat aircraft alternatives. The combat aircraft selection attributes were identified as payloadability, maneuverability, speedability, stealthability, and survivability. Determinate fuzzy data from the combat aircraft attributes was then aggregated using the determinate fuzzy weighted arithmetic average operator. For the selection of combat aircraft, correlation analysis of the ranking order patterns of options was also examined. A numerical example from military aviation is used to demonstrate the applicability and effectiveness of the proposed method.

Keywords: Combat aircraft selection, multiple criteria decision making, fuzzy sets, determinate fuzzy sets, intuitionistic fuzzy sets, proximity measure method, Hausdorff distance function, Minkowski distance function, PMM, MCDM

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Authors: Cătălin Nicolae Albu, Nadia Albu, Maria Mădălina Gîrbină

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There is limited evidence from various countries about the possible impact of various criteria to be used to determine the scope of the IFRS for SMEs issued in 2009 and, research is needed in this area. We provide evidence from Romania, an emerging economy member of the European Union. The aim of this paper is to analyze in a local setting if size is a relevant factor for deciding between local and global standards for SMEs. Our results indicate that size is a moderate indicator of the existence of possible users interested in financial statements and that there is a difference between the scopes of the standard determined on various criteria.. Also, we suggest that the international exposure is quite reduced in the case of SMEs, but is sufficient to suggest that at least some SMEs would benefit from international comparability of financial statements

Keywords: SMEs, IFRS for SMEs, accounting regulation, entity's size.

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Authors: Remigijus Janulionis, Marijus Šeporaitis, Aleksandra Legha, Raimundas Ručys

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All types of farms have a waste problem. Livestock farms have huge amounts of manure and vegetable farms have to deal with inedible parts of vegetables or rotten, damaged and unacceptable vegetable waste. All of this waste needs to be disposed of safely, ecologically, and as quickly as possible. One of the options is composting using bioreactors, which are rotating drum composters. This type of composting allows biodegradable waste to be disposed of quickly and in an environmentally friendly manner, turning it into a useful product such as soil fertilizer or livestock bedding. This paper presents the fatigue and stiffness analysis of a rotating drum composter. The analysis was performed using a 3D finite element model. It was found that the analyzed composter design has good mechanical strength, good fatigue strength for a cylinder, and acceptable fatigue strength for tire rings. The deformation analysis of the cylinder indicated that the front and rear door support mechanisms should allow the positioning angle to be changed to ensure tightness.

Keywords: 3D modeling, fatigue, Finite Element Method, Goodman’s diagram.

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Authors: Raquel P. F. Guiné, Daniela V. T. A. Costa, Paula M. R. Correia, Moisés Castro, Luis T. Guerra, Cristina A. Costa

Abstract:

The aim of this work was to characterize a potential target group of people interested in participating into a training program in organic farming in the context of mobile-learning. The information sought addressed in particular, but not exclusively, possible contents, formats and forms of evaluation that will contribute to define the course objectives and curriculum, as well as to ensure that the course meets the needs of the learners and their preferences. The sample was selected among different European countries. The questionnaires were delivered electronically for answering on-line and in the end 135 consented valid questionnaires were obtained. The results allowed characterizing the target group and identifying their training needs and preferences towards m-learning formats, giving valuable tools to design the training offer.

Keywords: Mobile-learning, organic farming, rural development, survey.

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Authors: J. Berčík, A. Mravcová, J. Gálová, K. Neomániová

Abstract:

In an era when everything is increasingly digital, consumers are always looking for new options in solutions to their everyday needs. In this context, mobile apps are developing at an exponential pace. One of the fastest growing segments of mobile technologies is, obviously, e-commerce. It can be predicted that mobile commerce will record nearly three times the global growth of e-commerce across all platforms, which indicates its importance in the given segment. The current coronavirus pandemic is also changing many of the existing paradigms both socially, economically, and technologically, which has a major impact on changing consumer behavior and the emphasis on simplification and clarity of mobile solutions. This is the area that User Experience (UX) and User Interface (UI) designers deal with. Their task is to design a sufficiently attractive and interesting solution that will be available on all mobile devices and at the same time will be easy enough for the customer/visitor to get to the destination or to get the necessary information in a few clicks. The basis for changes in UX design can now be obtained not only through online analytical tools, but also through neuromarketing, especially in the case of mobile devices. The paper highlights possibilities for testing UX design applications on mobile devices using a special platform that combines a stationary eye camera (eye tracking) and facial analysis (facial coding).

Keywords: Emotions, mobile design, user experience, visual attention.

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