Search results for: quadratic convex function.

Authors: Yongping Ren, Zongli Li, Fan Zhang

Abstract:

A new nonlinear PID controller and its stability analysis are presented in this paper. A nonlinear function is deduced from the similarities between the control effort and the electric-field effect of a capacitor. The conventional linear PID controller can be modified into a nonlinear one by this function. To analyze the stability of the nonlinear PID controlled system, an idea of energy equivalence is adapted to avoid the conservativeness which is usually arisen from some traditional theorems and Criterions. The energy equivalence is naturally related with the conceptions of Passivity and T-Passivity. As a result, an engineering guideline for the parameter design of the nonlinear PID controller is obtained. An inverted pendulum system is tested to verify the nonlinear PID control scheme.

Keywords: Nonlinear PID controller, stability, gain equivalence, dissipative, T-Passivity.

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Authors: Eszter Tóth, Ervin Welker

Abstract:

Shadoo protein (Sho) was described in 2003 as the newest member of Prion protein superfamily [1]. Sho has similar structural motifs like prion protein (PrP) that is known for its central role in transmissible spongiform enchephalopathies. Although a great number of functions have been proposed, the exact physiological function of PrP is not known yet. Investigation of the function and localization of Sho may help us to understand the function of the Prion protein superfamily. Analyzing the subcellular localization of YFP-tagged forms of Sho, we detected the protein in the plasma membrane and in the nucleus of various cell lines. To reveal the localization of the endogenous protein we generated antibodies against Shadoo as well as employed commercially available anti-Shadoo antibodies: i) EG62 anti-mouse Shadoo antibody generated by Eurogentec Ltd.; ii) S-12 anti-human Shadoo antibody by Santa Cruz Biotechnology Inc.; iii) R-12 anti-mouse Shadoo antibody by Santa Cruz Biotechnology Inc.; iv) SPRN antibody against human Shadoo by Abgent Inc. We carried out immunocytochemistry on non-transfected HeLa, Zpl 2-1, Zw 3-5, GT1-1, GT1-7 and SHSY5Y cells as well as on YFP-Sho, Sho-YFP, and YFP-GPI transfected HeLa cells. Their specificity (in antibody-peptide competition assay) and co-localization (with the YFP signal) were assessed.

Keywords: Shadoo, prion protein, immunocytochemistry, antibody-peptide competition assay, antibody.

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Authors: Sorawit Stapornchaisit, Sidshchadhaa Aumted, Hiroshi Takami

Abstract:

In this paper, we propose a novel adaptive voltage control strategy for boost converter via Inverse LQ Servo-Control. Our presented strategy is based on an analytical formula of Inverse Linear Quadratic (ILQ) design method, which is not necessary to solve Riccati’s equation directly. The optimal and adaptive controller of the voltage control system is designed. The stability and the robust control are analyzed. Whereas, we can get the analytical solution for the optimal and robust voltage control is achieved through the natural angular velocity within a single parameter and we can change the responses easily via the ILQ control theory. Our method provides effective results as the stable responses and the response times are not drifted even if the condition is changed widely.

Keywords: Boost converter, optimal voltage control, inverse LQ design method, type-1 servo-system, adaptive control.

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Authors: Salsabil Trabelsi, Zied Elouedi, Khaled Mellouli

Abstract:

The belief decision tree (BDT) approach is a decision tree in an uncertain environment where the uncertainty is represented through the Transferable Belief Model (TBM), one interpretation of the belief function theory. The uncertainty can appear either in the actual class of training objects or attribute values of objects to classify. In this paper, we develop a post-pruning method of belief decision trees in order to reduce size and improve classification accuracy on unseen cases. The pruning of decision tree has a considerable intention in the areas of machine learning.

Keywords: machine learning, uncertainty, belief function theory, belief decision tree, pruning.

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Authors: Thanapiyawanit Bancha, Lu Jau-Huai

Abstract:

In this study, we developed a model to predict the temperature and the pressure variation in an internal combustion engine operated in HCCI (Homogeneous charge compression ignition) mode. HCCI operation begins from aspirating of homogeneous charge mixture through intake valve like SI (Spark ignition) engine and the premixed charge is compressed until temperature and pressure of mixture reach autoignition point like diesel engine. Combustion phase was described by double-Wiebe function. The single zone model coupled with an double-Wiebe function were performed to simulated pressure and temperature between the period of IVC (Inlet valve close) and EVO (Exhaust valve open). Mixture gas properties were implemented using STANJAN and transfer the results to main model. The model has considered the engine geometry and enables varying in fuelling, equivalence ratio, manifold temperature and pressure. The results were compared with the experiment and showed good correlation with respect to combustion phasing, pressure rise, peak pressure and temperature. This model could be adapted and use to control start of combustion for HCCI engine.

Keywords: Double-Wiebe function, HCCI, Ignition enhancer, Single zone model.

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Authors: J. P. Dubois

Abstract:

This paper reports the feasibility of the ARMA model to describe a bursty video source transmitting over a AAL5 ATM link (VBR traffic). The traffic represents the activity of the action movie "Lethal Weapon 3" transmitted over the ATM network using the Fore System AVA-200 ATM video codec with a peak rate of 100 Mbps and a frame rate of 25. The model parameters were estimated for a single video source and independently multiplexed video sources. It was found that the model ARMA (2, 4) is well-suited for the real data in terms of average rate traffic profile, probability density function, autocorrelation function, burstiness measure, and the pole-zero distribution of the filter model.

Keywords: ARMA, ATM networks, burstiness, multimediatraffic, VBR video.

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Authors: Wayne Goodridge, Alexander Nikov, Ashok Sahai

Abstract:

Multi criteria decision making (MCDM) methods like analytic hierarchy process, ELECTRE and multi-attribute utility theory are critically studied. They have irregularities in terms of the reliability of ranking of the best alternatives. The Routing Decision Support (RDS) algorithm is trying to improve some of their deficiencies. This paper gives a mathematical verification that the RDS algorithm conforms to the test criteria for an effective MCDM method when a linear preference function is considered.

Keywords: Decision support systems, linear preference function, multi-criteria decision-making algorithm, analytic hierarchy process.

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Authors: Kazunari Meguro, Shinichi Motomura, Takao Kawamura, Kazunori Sugahara

Abstract:

We have developed a distributed asynchronous Web based training system. In order to improve the scalability and robustness of this system, all contents and a function are realized on mobile agents. These agents are distributed to computers, and they can use a Peer to Peer network that modified Content-Addressable Network. In this system, all computers offer the function and exercise by themselves. However, the system that all computers do the same behavior is not realistic. In this paper, as a solution of this issue, we present an e-Learning system that is composed of computers of different participation types. Enabling the computer of different participation types will improve the convenience of the system.

Keywords: Distributed Multimedia Systems, e-Learning, P2P, Mobile Agen

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Authors: Atamas N. A., Atamas A. A.

Abstract:

Energetic and structural results for ethanol-water mixtures as a function of the mole fraction were calculated using Monte Carlo methodology. Energy partitioning results obtained for equimolar water-ethanol mixture and ether organic liquids are compared. It has been shown that at xet=0.22 the RDFs for waterethanol and ethanol-ethanol interactions indicated strong hydrophobic interactions between ethanol molecules and the local structure of solution is less structured at this concentration as at ether ones. Results obtained for ethanol-water mixture as a function of concentration are in good agreement with the experimental data.

Keywords: Ethanol, molecular liquids, Monte Carlo, water, thermodynamics.

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Authors: A. N. K. Nasir, M. A. Ahmad, R. M. T. Raja Ismail

Abstract:

The research on two-wheels balancing robot has gained momentum due to their functionality and reliability when completing certain tasks. This paper presents investigations into the performance comparison of Linear Quadratic Regulator (LQR) and PID-PID controllers for a highly nonlinear 2–wheels balancing robot. The mathematical model of 2-wheels balancing robot that is highly nonlinear is derived. The final model is then represented in statespace form and the system suffers from mismatched condition. Two system responses namely the robot position and robot angular position are obtained. The performances of the LQR and PID-PID controllers are examined in terms of input tracking and disturbances rejection capability. Simulation results of the responses of the nonlinear 2–wheels balancing robot are presented in time domain. A comparative assessment of both control schemes to the system performance is presented and discussed.

Keywords: PID, LQR, Two-wheels balancing robot.

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Authors: Halil Snopce, Ilir Spahiu, Lavdrim Elmazi

Abstract:

A lot of Scientific and Engineering problems require the solution of large systems of linear equations of the form bAx in an effective manner. LU-Decomposition offers good choices for solving this problem. Our approach is to find the lower bound of processing elements needed for this purpose. Here is used the so called Omega calculus, as a computational method for solving problems via their corresponding Diophantine relation. From the corresponding algorithm is formed a system of linear diophantine equalities using the domain of computation which is given by the set of lattice points inside the polyhedron. Then is run the Mathematica program DiophantineGF.m. This program calculates the generating function from which is possible to find the number of solutions to the system of Diophantine equalities, which in fact gives the lower bound for the number of processors needed for the corresponding algorithm. There is given a mathematical explanation of the problem as well. Keywordsgenerating function, lattice points in polyhedron, lower bound of processor elements, system of Diophantine equationsand : calculus.

Keywords: generating function, lattice points in polyhedron, lower bound of processor elements, system of Diophantine equations and calculus.

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Authors: Kamran Turkoglu, Ugur Ozdemir, Melike Nikbay, Elbrous M. Jafarov

Abstract:

In this paper, an automatic control system design based on Integral Squared Error (ISE) parameter optimization technique has been implemented on longitudinal flight dynamics of an UAV. It has been aimed to minimize the error function between the reference signal and the output of the plant. In the following parts, objective function has been defined with respect to error dynamics. An unconstrained optimization problem has been solved analytically by using necessary and sufficient conditions of optimality, optimum PID parameters have been obtained and implemented in control system dynamics.

Keywords: Optimum Design, KKT Conditions, UAV, Longitudinal Flight Dynamics, ISE Parameter Optimization.

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Authors: Meriem Bahij, Ahmed Nafidi, Boujemâa Achchab, Sílvio M. A. Gama, José A. O. Matos

Abstract:

Stochastic modeling concerns the use of probability to model real-world situations in which uncertainty is present. Therefore, the purpose of stochastic modeling is to estimate the probability of outcomes within a forecast, i.e. to be able to predict what conditions or decisions might happen under different situations. In the present study, we present a model of a stochastic diffusion process based on the bi-Weibull distribution function (its trend is proportional to the bi-Weibull probability density function). In general, the Weibull distribution has the ability to assume the characteristics of many different types of distributions. This has made it very popular among engineers and quality practitioners, who have considered it the most commonly used distribution for studying problems such as modeling reliability data, accelerated life testing, and maintainability modeling and analysis. In this work, we start by obtaining the probabilistic characteristics of this model, as the explicit expression of the process, its trends, and its distribution by transforming the diffusion process in a Wiener process as shown in the Ricciaardi theorem. Then, we develop the statistical inference of this model using the maximum likelihood methodology. Finally, we analyse with simulated data the computational problems associated with the parameters, an issue of great importance in its application to real data with the use of the convergence analysis methods. Overall, the use of a stochastic model reflects only a pragmatic decision on the part of the modeler. According to the data that is available and the universe of models known to the modeler, this model represents the best currently available description of the phenomenon under consideration.

Keywords: Diffusion process, discrete sampling, likelihood estimation method, simulation, stochastic diffusion equation, trends functions, bi-parameters Weibull density function.

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Authors: F. Khaber, K. Zehar, A. Hamzaoui

Abstract:

In this paper, we introduce a robust state feedback controller design using Linear Matrix Inequalities (LMIs) and guaranteed cost approach for Takagi-Sugeno fuzzy systems. The purpose on this work is to establish a systematic method to design controllers for a class of uncertain linear and non linear systems. Our approach utilizes a certain type of fuzzy systems that are based on Takagi-Sugeno (T-S) fuzzy models to approximate nonlinear systems. We use a robust control methodology to design controllers. This method not only guarantees stability, but also minimizes an upper bound on a linear quadratic performance measure. A simulation example is presented to show the effectiveness of this method.

Keywords: Takagi-Sugeno fuzzy model, state feedback, linear matrix inequalities, robust stability.

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Authors: Tet H. Yeap

Abstract:

An analog restricted Hopfield Network is presented in this paper. It consists of two layers of nodes, visible and hidden nodes, connected by directional weighted paths forming a bipartite graph with no intralayer connection. An energy or Lyapunov function was derived to show that the proposed network will converge to stable states. By introducing hidden nodes, the proposed network can be trained to store patterns and has increased memory capacity. Training to be an associative memory, simulation results show that the associative memory performs better than a classical Hopfield network by being able to perform better memory recall when the input is noisy.

Keywords: Associative memory, Hopfield network, Lyapunov function, Restricted Hopfield network.

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Authors: Pradip Deb

Abstract:

Quantitative radiobiological models can be used to assess the optimum clinical outcome from sophisticated therapeutic modalities by calculating tumor control probability (TCP) and normal tissue complication probability (NTCP). In this study two 3D-CRT and an IMRT treatment plans were developed with an initial prescription dose of 60 Gy in 2 Gy/fraction to prostate. Sensitivity of TCP and Complication free tumor control probability (P+) to the different values of α/β ratio was investigated for various prescription doses planned to be delivered in either a fixed number of fractions (I) or in a fixed dose per fraction (II) in each of the three different treatment plans. High dose/fraction and high α/β value result in comparatively smaller P+ and IMRT plans resulted in the highest P+, mainly due to the decrease in NTCP. If α/β is lower than expected, better tumor control can be achieved by increasing dose/fraction but decreasing the number of fractions.

Keywords: Linear Quadratic Model, TCP, NTCP, α/β ratio.

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Authors: Xing Li, Chengqing Zong

Abstract:

This paper presents an effective framework for Chinesesyntactic parsing, which includes two parts. The first one is a parsing framework, which is based on an improved bottom-up chart parsingalgorithm, and integrates the idea of the beam search strategy of N bestalgorithm and heuristic function of A* algorithm for pruning, then get multiple parsing trees. The second is a novel evaluation model, which integrates contextual and partial lexical information into traditional PCFG model and defines a new score function. Using this model, the tree with the highest score is found out as the best parsing tree. Finally,the contrasting experiment results are given. Keywords?syntactic parsing, PCFG, pruning, evaluation model.

Keywords: syntactic parsing, PCFG, pruning, evaluation model.

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Authors: Walid S. Alfuhaid, Saud A. Alghamdi, John M. Watkins, M. Edwin Sawan

Abstract:

Designing a controller for stochastic decentralized interconnected large scale systems usually involves a high degree of complexity and computation ability. Noise, observability, and controllability of all system states, connectivity, and channel bandwidth are other constraints to design procedures for distributed large scale systems. The quasi-steady state model investigated in this paper is a reduced order model of the original system using singular perturbation techniques. This paper results in an optimal control synthesis to design an observer based feedback controller by standard stochastic control theory techniques using Linear Quadratic Gaussian (LQG) approach and Kalman filter design with less complexity and computation requirements. Numerical example is given at the end to demonstrate the efficiency of the proposed method.

Keywords: Decentralized, optimal control, output, singular perturb.

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Authors: Shuimiao Wan, Chao Yuan, Baoguang Tian

Abstract:

In this paper, a linear mixed model which has two random effects is broken up into two models. This thesis gets the parameter estimation of the original model and an estimation’s statistical qualities based on these two models. Then many important properties are given by comparing this estimation with other general estimations. At the same time, this paper proves the analysis of variance estimate (ANOVAE) about σ2 of the original model is equal to the least-squares estimation (LSE) about σ2 of these two models. Finally, it also proves that this estimation is better than ANOVAE under Stein function and special condition in some degree.

Keywords: Linear mixed model, Random effects, Parameter estimation, Stein function.

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Authors: Aymen Laadhari

Abstract:

We present in this paper a fully implicit finite element method tailored for the numerical modeling of inextensible fluidic membranes in a surrounding Newtonian fluid. We consider a highly simplified version of the Canham-Helfrich model for phospholipid membranes, in which the bending force and spontaneous curvature are disregarded. The coupled problem is formulated in a fully Eulerian framework and the membrane motion is tracked using the level set method. The resulting nonlinear problem is solved by a Newton-Raphson strategy, featuring a quadratic convergence behavior. A monolithic solver is implemented, and we report several numerical experiments aimed at model validation and illustrating the accuracy of the proposed method. We show that stability is maintained for significantly larger time steps with respect to an explicit decoupling method.

Keywords: Finite element method, Newton method, level set, Navier-Stokes, inextensible membrane, liquid drop.

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Authors: jianhua Hou, Changqing Yang, and Beibo Qin

Abstract:

A numerical method for solving nonlinear Fredholm integral equations of second kind is proposed. The Fredholm type equations which have many applications in mathematical physics are then considered. The method is based on hybrid function  approximations. The properties of hybrid of block-pulse functions and Chebyshev polynomials are presented and are utilized to reduce the computation of nonlinear Fredholm integral equations to a system of nonlinear. Some numerical examples are selected to illustrate the effectiveness and simplicity of the method.

Keywords: Hybrid functions, Fredholm integral equation, Blockpulse, Chebyshev polynomials, product operational matrix.

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Authors: Andre A. Keller

Abstract:

The optimal control is one of the possible controllers for a dynamic system, having a linear quadratic regulator and using the Pontryagin-s principle or the dynamic programming method . Stochastic disturbances may affect the coefficients (multiplicative disturbances) or the equations (additive disturbances), provided that the shocks are not too great . Nevertheless, this approach encounters difficulties when uncertainties are very important or when the probability calculus is of no help with very imprecise data. The fuzzy logic contributes to a pragmatic solution of such a problem since it operates on fuzzy numbers. A fuzzy controller acts as an artificial decision maker that operates in a closed-loop system in real time. This contribution seeks to explore the tracking problem and control of dynamic macroeconomic models using a fuzzy learning algorithm. A two inputs - single output (TISO) fuzzy model is applied to the linear fluctuation model of Phillips and to the nonlinear growth model of Goodwin.

Keywords: fuzzy control, macroeconomic model, multiplier - accelerator, nonlinear accelerator, stabilization policy.

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Authors: A. Puras Trueba, J. R. Llata García

Abstract:

A nonlinear optimal controller with a fuzzy gain scheduler has been designed and applied to a Line-Of-Sight (LOS) stabilization system. Use of Linear Quadratic Regulator (LQR) theory is an optimal and simple manner of solving many control engineering problems. However, this method cannot be utilized directly for multigimbal LOS systems since they are nonlinear in nature. To adapt LQ controllers to nonlinear systems at least a linearization of the model plant is required. When the linearized model is only valid within the vicinity of an operating point a gain scheduler is required. Therefore, a Takagi-Sugeno Fuzzy Inference System gain scheduler has been implemented, which keeps the asymptotic stability performance provided by the optimal feedback gain approach. The simulation results illustrate that the proposed controller is capable of overcoming disturbances and maintaining a satisfactory tracking performance.

Keywords: Fuzzy Gain-Scheduling, Gimbal, Line-Of-SightStabilization, LQR, Optimal Control

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Authors: Sajeena Beevi. B, Jose P. P., G. Madhu

Abstract:

The aim of this study was to obtain the optimal conditions for biogas production from anaerobic digestion of organic fraction of municipal solid waste (OFMSW) using response surface methodology (RSM). The parameters studied were initial pH, substrate concentration and total organic carbon (TOC). The experimental results showed that the linear model terms of initial pH and substrate concentration and the quadratic model terms of the substrate concentration and TOC had significant individual effect (p < 0.05) on biogas yield. However, there was no interactive effect between these variables (p > 0.05). The highest level of biogas produced was 53.4 L/Kg VS at optimum pH, substrate concentration and total organic carbon of 6.5, 99gTS/L and 20.32 g/L respectively.

Keywords: Anaerobic Digestion, Biogas, Optimization, Response Surface Methodology.

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Authors: Robertoes K. K. Wibowo, Siswoyo Soekarno, Irma Puspitasari

Abstract:

Indonesian people use trains for their transportation, especially they use economy class train transportation because it is cheaper and has a more precise schedule than any other ground transportation. Nevertheless, the economy class passenger seat raises some inconvenience issues for passengers. This is due to the design of the chair on the economic class of trains that did not adjusted to the shape of anthropometry of Indonesian people. Thus, research needs to be conducted on the design of the seats in the economic class of trains. The purpose of this research is to make the design of economy class passenger seats ergonomic. This research method uses questionnaires and anthropometry measurements. The data obtained is processed using House of Quality of Ergonomic Function Development. From the results of analysis and data processing were obtained important changes from the original design. Ergonomic chair design according to the analysis is a stainless steel frame, seat height 390 mm, with a seat width for each passenger of 400 mm and a depth of 400 mm. Design of the backrest has a height of 840 mm, width of 430 mm and length of 300 mm that can move at the angle of 105-115 degrees. The width of the footrest is 42 mm and 400 mm length. The thickness of the seat cushion is 100 mm.

Keywords: Chair, ergonomics, function development, train passenger.

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Authors: Dong Xie, Leah Howard, Yiming Weng

Abstract:

The objective of this study was to synthesize and characterize 5-acryloyloxy-3,4-dichlorocrotonolactone (a furanone derivative), use this derivative to modify a dental restorative, and study the effect of the derivative on the antibacterial activity and compressive strength of the formed restorative. In this study, a furanone derivative was synthesized, characterized, and used to formulate a dental restorative. Compressive strength (CS) and S. mutans viability were used to evaluate the mechanical strength and antibacterial activity of the formed restorative. The fabricated restorative specimens were photocured and conditioned in distilled water at 37^oC for 24 h, followed by direct testing for CS or/and incubating with S. mutans for 48 h for antibacterial testing. The results show that the modified dental restorative showed a significant antibacterial activity without substantially decreasing the mechanical strengths. With addition of the antibacterial derivative up to 30%, the restorative kept its original CS nearly unchanged but showed a significant antibacterial activity with 68% reduction in the S. mutans viability. Furthermore, the antibacterial function of the modified restorative was not affected by human saliva. The aging study also indicates that the modified restorative may have a long-lasting antibacterial function. It is concluded that this experimental antibacterial restorative may potentially be developed into a clinically attractive dental filling restorative due to its high mechanical strength and antibacterial function.

Keywords: Antibacterial, dental filling restorative, compressive strength, S. mutans viability.

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Authors: Tosaphol Ratniyomchai, Uthai Jaithong, Thanatchai Kulworawanichpong

Abstract:

This paper presents an application of power line carrier (PLC) for electrical power telemetering. This system has a special capability of transmitting the measured values to a centralized computer via power lines. The PLC modem as a passive high-pass filter is designed for transmitting and receiving information. Its function is to send the information carrier together with transmitted data by superimposing it on the 50 Hz power frequency signal. A microcontroller is employed to function as the main processing of the modem. It is programmed for PLC control and interfacing with other devices. Each power meter, connected via a PLC modem, is assigned with a unique identification number (address) for distinguishing each device from one another.

Keywords: Power telemetering, Power line carrier, High-passfilter, Digital data transmission

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Authors: Truong Quang Dang Khoa, Masahiro Nakagawa

Abstract:

Chaos and fractals are novel fields of physics and mathematics showing up a new way of universe viewpoint and creating many ideas to solve several present problems. In this paper, a novel algorithm based on the chaotic sequence generator with the highest ability to adapt and reach the global optima is proposed. The adaptive ability of proposal algorithm is flexible in 2 steps. The first one is a breadth-first search and the second one is a depth-first search. The proposal algorithm is examined by 2 functions, the Camel function and the Schaffer function. Furthermore, the proposal algorithm is applied to optimize training Multilayer Neural Networks.

Keywords: learning and evolutionary computing, Chaos Optimization Algorithm, Artificial Neural Networks, nonlinear optimization, intelligent computational technologies.

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Authors: J. Daba, J. Dubois

Abstract:

In this work, we improve a previously developed segmentation scheme aimed at extracting edge information from speckled images using a maximum likelihood edge detector. The scheme was based on finding a threshold for the probability density function of a new kernel defined as the arithmetic mean-to-geometric mean ratio field over a circular neighborhood set and, in a general context, is founded on a likelihood random field model (LRFM). The segmentation algorithm was applied to discriminated speckle areas obtained using simple elliptic discriminant functions based on measures of the signal-to-noise ratio with fractional order moments. A rigorous stochastic analysis was used to derive an exact expression for the cumulative density function of the probability density function of the random field. Based on this, an accurate probability of error was derived and the performance of the scheme was analysed. The improved segmentation scheme performed well for both simulated and real images and showed superior results to those previously obtained using the original LRFM scheme and standard edge detection methods. In particular, the false alarm probability was markedly lower than that of the original LRFM method with oversegmentation artifacts virtually eliminated. The importance of this work lies in the development of a stochastic-based segmentation, allowing an accurate quantification of the probability of false detection. Non visual quantification and misclassification in medical ultrasound speckled images is relatively new and is of interest to clinicians.

Keywords: Discriminant function, false alarm, segmentation, signal-to-noise ratio, skewness, speckle.

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Authors: Promise A. Azor, Avievie Igodo, Esabai M. Ase

Abstract:

The paper merged the return of premium clause and voluntary contributions to investigate retirees’ investment plan in a defined contributory (DC) pension scheme with a portfolio comprising of a risk-free asset and a risky asset whose price process is described by geometric Brownian motion (GBM). The paper considers additional voluntary contributions paid by members, charge on balance by pension fund administrators and the mortality risk of members of the scheme during the accumulation period by introducing return of premium clause. To achieve this, the Weilbull mortality force function is used to establish the mortality rate of members during accumulation phase. Furthermore, an optimization problem from the Hamilton Jacobi Bellman (HJB) equation is obtained using dynamic programming approach. Also, the Legendre transformation method is used to transform the HJB equation which is a nonlinear partial differential equation to a linear partial differential equation and solves the resultant equation for the value function and the optimal distribution plan under logarithm utility function. Finally, numerical simulations of the impact of some important parameters on the optimal distribution plan were obtained and it was observed that the optimal distribution plan is inversely proportional to the initial fund size, predetermined interest rate, additional voluntary contributions, charge on balance and instantaneous volatility.

Keywords: Legendre transform, logarithm utility, optimal distribution plan, return clause of premium, charge on balance, Weibull mortality function.

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