Search results for: data management

Authors: Sungnam Hong, Sun-Kyu Park, Dooyong Cho, Jinwoong Choi

Abstract:

In this paper, a strategy for long-span bridge disaster response was developed, divided into risk analysis, business impact analysis, and emergency response plan. At the risk analysis stage, the critical risk was estimated. The critical risk was “car accident."The critical process by critical-risk classification was assessed at the business impact analysis stage. The critical process was the task related to the road conditions and traffic safety. Based on the results of the precedent analysis, an emergency response plan was established. By making the order of the standard operating procedures clear, an effective plan for dealing with disaster was formulated. Finally, a prototype software was developed based on the research findings. This study laid the foundation of an information-technology-based disaster response guideline and is significant in that it computerized the disaster response plan to improve the plan-s accessibility.

Keywords: Emergency response; Long-span bridge; Disaster management; Standard operating procedure; Ubiquitous.

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Authors: Affordability, Expenditure Patterns towards Sustainable Consumption in Malaysia

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Safe drinking water is needed for survival. Households have to pay the water bill monthly. However, lower income households are sometimes unable to afford the cost. This study examines water access and affordability among households in Malaysia and the determinants of water affordability using cross-sectional data and multiple regression. The paper expects that the bill for basic water consumption is inversely related to average income. This means that policy makers need to redesign the water tariff to improve the quality of life of lower income households.

Keywords: Affordability, households, income, water tariff.

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Authors: Ahmed Abdelali, Jim Cowie, Hamdy S. Soliman

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One of the major challenges in the Information Retrieval field is handling the massive amount of information available to Internet users. Existing ranking techniques and strategies that govern the retrieval process fall short of expected accuracy. Often relevant documents are buried deep in the list of documents returned by the search engine. In order to improve retrieval accuracy we examine the issue of language effect on the retrieval process. Then, we propose a solution for a more biased, user-centric relevance for retrieved data. The results demonstrate that using indices based on variations of the same language enhances the accuracy of search engines for individual users.

Keywords: Information Search and Retrieval, LanguageVariants, Search Engine, Retrieval Accuracy.

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Authors: Luisa Mesquita Oliveira Ribeiro, Alexei Manso Correa Machado

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Handwritten signature is a unique form for recognizing an individual, used to discern documents, carry out investigations in the criminal, legal, banking areas and other applications. Signature verification is based on large amounts of biometric data, as they are simple and easy to acquire, among other characteristics. Given this scenario, signature forgery is a worldwide recurring problem and fast and precise techniques are needed to prevent crimes of this nature from occurring. This article carried out a study on the efficiency of the Capsule Network in analyzing and recognizing signatures. The chosen architecture achieved an accuracy of 98.11% and 80.15% for the CEDAR and GPDS databases, respectively.

Keywords: Biometrics, deep learning, handwriting, signature forgery.

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Authors: Hashem M. Alargha, Mohammad O. Hamdan, Waseem H. Aziz

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Aerobatic and military pilots are subjected to high gravitational forces that could cause blackout, physical injuries or death. A CFD simulation using fluid-solid interactions scheme has been conducted to investigate the gravitational effects and hazards inside cerebral aneurysms. Medical data have been used to derive the size and geometry of a simple aneurysm on a T-shaped bifurcation. The results show that gravitational force has no effect on maximum Wall Shear Stress (WSS); hence, it will not cause aneurysm initiation/formation. However, gravitational force cause causes hypertension which could contribute to aneurysm rupture.

Keywords: Aneurysm, CFD, wall shear stress, gravity, fluid dynamics, bifurcation artery.

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Authors: Claudiu Brandas

Abstract:

Several recent studies have shown that the transparency of financial reporting have a significant influence on investor-s decisions. Thus, regulation authorities and professional organizations (IFAC) have emphasized the role of XBRL (eXtensible Business Reporting Language) and interactive data as a means of promoting transparency and monitoring corporate reporting. In this context, this paper has as objective the analysis of interactive reporting through XBRL and its use as a support in the process of taking decisions in corporate governance, namely the potential of interactive reports in XBRL to increase the transparency and monitoring process of corporate governance.

Keywords: Corporate Governance, decision, financial reporting, transparency, XBRL.

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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: J. G. Batista, T. S. Santiago, E. A. Ribeiro, ¬G. A. P. Thé

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This work deals with parameter identification of permanent magnet motors, a class of ac motor which is particularly important in industrial automation due to characteristics like applications high performance, are very attractive for applications with limited space and reducing the need to eliminate because they have reduced size and volume and can operate in a wide speed range, without independent ventilation. By using experimental data and genetic algorithm we have been able to extract values for both the motor inductance and the electromechanical coupling constant, which are then compared to measure and/or expected values.

Keywords: Modeling, AC servomotor, Permanent Magnet Synchronous Motor-PMSM, Genetic Algorithm, Vector Control, Robotic Manipulator, Control.

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Authors: M. Benbrahim, K. Benjelloun, A. Ibenbrahim, M. Kasmi, E. Ardil

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The automatic discrimination of seismic signals is an important practical goal for the earth-science observatories due to the large amount of information that they receive continuously. An essential discrimination task is to allocate the incoming signal to a group associated with the kind of physical phenomena producing it. In this paper, we present new techniques for seismic signals classification: local, regional and global discrimination. These techniques were tested on seismic signals from the data base of the National Geophysical Institute of the Centre National pour la Recherche Scientifique et Technique (Morocco) by using the Moroccan software for seismic signals analysis.

Keywords: Seismic signals, local discrimination, regionaldiscrimination, global discrimination, Moroccan software for seismicsignals analysis.

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Authors: A.T.Z. Mahamat, A.M. A Rani, Patthi Husain

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Copper based composites reinforced with WC and Ti particles were prepared using planetary ball-mill. The experiment was designed by using Taguchi technique and milling was carried out in an air for several hours. The powder was characterized before and after milling using the SEM, TEM and X-ray for microstructure and for possible new phases. Microstructures show that milled particles size and reduction in particle size depend on many parameters. The distance d between planes of atoms estimated from X-ray powder diffraction data and TEM image. X-ray diffraction patterns of the milled powder did not show clearly any new peak or energy shift, but the TEM images show a significant change in crystalline structure of corporate on titanium in the composites.

Keywords: ball milling, microstructures, titanium, tungstencarbides, X-ray

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Authors: Farouq Twaiq, Ishaq Al-Anbari, Mustafa Nasser

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The kinetics of palm oil catalytic cracking over aluminum containing mesoporous silica Al-MCM-41 (5% Al) was investigated in a batch autoclave reactor at the temperatures range of 573 – 673 K. The catalyst was prepared by using sol-gel technique and has been characterized by nitrogen adsorption and x-ray diffraction methods. Surface area of 1276 m2/g with average pore diameter of 2.54 nm and pore volume of 0.811 cm3/g was obtained. The experimental catalytic cracking runs were conducted using 50 g of oil and 1 g of catalyst. The reaction pressure was recorded at different time intervals and the data were analyzed using Levenberg- Marquardt (LM) algorithm using polymath software. The results show that the reaction order was found to be -1.5 and activation energy of 3200 J/gmol.

Keywords: Batch Reactor, Catalytic Cracking, Kinetics, Palm Oil.

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Authors: Ibrahim F. Elbaba, Paul T. Williams

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Hydrogen is regarded to play an important role in future energy systems because it can be produced from abundant resources and its combustion only generates water. The disposal of waste tyres is a major problem in environmental management throughout the world. The use of waste materials as a source of hydrogen is particularly of interest in that it would also solve a waste treatment problem. There is much interest in the use of alternative feedstocks for the production of hydrogen since more than 95% of current production is from fossil fuels. The pyrolysis of waste tyres for the production of liquid fuels, activated carbons and gases has been extensively researched. However, combining pyrolysis with gasification is a novel process that can gasify the gaseous products from pyrolysis. In this paper, an experimental investigation into the production of hydrogen and other gases from the bench scale pyrolysis-gasification of tyres has been investigated. Experiments were carried using a two stage system consisting of pyrolysis of the waste tyres followed by catalytic steam gasification of the evolved gases and vapours in a second reactor. Experiments were conducted at a pyrolysis temperature of 500 °C using Ni/Al2O3 as a catalyst. The results showed that there was a dramatic increase in gas yield and the potential H2 production when the gasification temperature was increased from 600 to 900 oC. Overall, the process showed that high yields of hydrogen can be produced from waste tyres.

Keywords: Catalyst, Hydrogen, Pyrolysis, Gasification, Tyre, Waste

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Authors: Josef Novák, Alena Kohoutková

Abstract:

The performance of concrete structures in fire depends on several factors which include, among others, the change in material properties due to the fire. Today, fiber reinforced concrete (FRC) belongs to materials which have been widely used for various structures and elements. While the knowledge and experience with FRC behavior under ambient temperature is well-known, the effect of elevated temperature on its behavior has to be deeply investigated. This paper deals with an experimental investigation and stress‑strain relations for hybrid fiber reinforced concrete (HFRC) which contains siliceous aggregates, polypropylene and steel fibers. The main objective of the experimental investigation is to enhance a database of mechanical properties of concrete composites with addition of fibers subject to elevated temperature as well as to validate existing stress-strain relations for HFRC. Within the investigation, a unique heat transport test, compressive test and splitting tensile test were performed on 150 mm cubes heated up to 200, 400, and 600 °C with the aim to determine a time period for uniform heat distribution in test specimens and the mechanical properties of the investigated concrete composite, respectively. Both findings obtained from the presented experimental test as well as experimental data collected from scientific papers so far served for validating the computational accuracy of investigated stress-strain relations for HFRC which have been developed during last few years. Owing to the presence of steel and polypropylene fibers, HFRC becomes a unique material whose structural performance differs from conventional plain concrete when exposed to elevated temperature. Polypropylene fibers in HFRC lower the risk of concrete spalling as the fibers burn out shortly with increasing temperature due to low ignition point and as a consequence pore pressure decreases. On the contrary, the increase in the concrete porosity might affect the mechanical properties of the material. To validate this thought requires enhancing the existing result database which is very limited and does not contain enough data. As a result of the poor database, only few stress-strain relations have been developed so far to describe the structural performance of HFRC at elevated temperature. Moreover, many of them are inconsistent and need to be refined. Most of them also do not take into account the effect of both a fiber type and fiber content. Such approach might be vague especially when high amount of polypropylene fibers are used. Therefore, the existing relations should be validated in detail based on other experimental results.

Keywords: Elevated temperature, fiber reinforced concrete, mechanical properties, stress strain relation.

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Authors: T. Watanabe

Abstract:

Combustion analysis of suspended sodium droplet is performed by solving numerically the Navier-Stokes equations and the energy conservation equations. The combustion model consists of the pre-ignition and post-ignition models. The reaction rate for the pre-ignition model is based on the chemical kinetics, while that for the post-ignition model is based on the mass transfer rate of oxygen. The calculated droplet temperature is shown to be in good agreement with the existing experimental data. The temperature field in and around the droplet is obtained as well as the droplet shape variation, and the present numerical model is confirmed to be effective for the combustion analysis.

Keywords: Combustion, analysis, sodium, droplet.

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Authors: Huiman C. Alberto

Abstract:

The research cites the various hazardous waste generated in the textile industry. The method used is descriptive and comparative, the process consisted of the search and evaluation of information, both nationally and internationally. The results indicate: (1) Waste is generated from the alpaca fiber industry in the various stages of camelid rearing, they stand out for their dangerousness: excreta, residual fiber and yarn scraps. (2) The main hazardous waste generated by the tannery industry are grease, hides, hair, plastic containers with traces of toxic substances, chips and pieces of leather with chrome. (3) Three companies' Solid Waste Management Plans were analyzed, randomly selected, and none of them detail waste treatment processes and warn of the lack of supervision by the authorities. It is concluded that the hazardous waste generated can affect human and environmental health. There is the possibility of taking advantage of certain hazardous waste such as manure and alpaca fiber, after treatment; while non-hazardous waste from the tannery such as yarn, panel weaving, cloth, scraps, and thread, can be used to produce new products, generating a production chain in favor of the entrepreneur himself.

Keywords: Alpaca fiber, excreta, Haute couture, hazardous waste tannery, hazardous waste treatment, textile waste,

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Authors: Emily Arangote

Abstract:

This paper defined the association between the indigenous knowledge, cultural practices and the ecosystem its implication to the environmental education to the farmers. Farmers recognize the need for sustainability of the ecosystem they inhabit. The cultural practices of farmers on use of indigenous pest control, use of insect-repellant plants, soil management practices that suppress diseases and harmful pests and conserve soil moisture are deemed to be ecologically-friendly. Indigenous plant materials that were more drought- and pest-resistant were grown. Crop rotation was implemented with various crop seeds to increase their disease resistance. Multi-cropping, planting of perennial crops, categorization of soil and planting of appropriate crops, planting of appropriate and leguminous crops, alloting land as watershed, and preserving traditional palay seed varieties were found to be beneficial in preserving the environment. The study also found that indigenous knowledge about crops are still relevant and useful to the current generation. This ensured the sustainability of our environment and incumbent on policy makers and educators to support and preserve for generations yet to come.

Keywords: Cultural practices, ecosystem, environmental education, indigenous knowledge.

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Authors: Giulio Mangano, Alberto De Marco, Giovanni Zenezini

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The concept of City Logistics (CL) has emerged to improve the impacts of last mile freight distribution in urban areas. In this paper, a System Dynamics (SD) model exploring the dynamics of the diffusion of a ICT platform for CL management across different populations is proposed. For the development of the model two sources have been used. On the one hand, the major diffusion variables and feedback loops are derived from a literature review of existing diffusion models. On the other hand, the parameters are represented by the value propositions delivered by the platform as a response to some of the users’ needs. To extract the most important value propositions the Business Model Canvas approach has been used. Such approach in fact focuses on understanding how a company can create value for her target customers. These variables and parameters are thus translated into a SD diffusion model with three different populations namely municipalities, logistics service providers, and own account carriers. Results show that, the three populations under analysis fully adopt the platform within the simulation time frame, highlighting a strong demand by different stakeholders for CL projects aiming at carrying out more efficient urban logistics operations.

Keywords: City logistics, simulation, system dynamics, business model.

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Authors: T. N. Mac, B. Shahbodaghkhan, N. Khalili

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A new elastic-viscoplastic (EVP) constitutive model is proposed for the analysis of time-dependent behavior of clay. The proposed model is based on the bounding surface plasticity and the concept of viscoplastic consistency framework to establish continuous transition from plasticity to rate dependent viscoplasticity. Unlike the overstress based models, this model will meet the consistency condition in formulating the constitutive equation for EVP model. The procedure of deriving the constitutive relationship is also presented. Simulation results and comparisons with experimental data are then presented to demonstrate the performance of the model.

Keywords: Bounding surface, consistency theory, constitutive model, viscosity.

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Authors: Masoud Nasri, Rahele Hekmatpanah

Abstract:

Growing world population has fundamental impacts and often catastrophic on natural habitat. The immethodical consumption of energy, destruction of the forests and extinction of plant and animal species are the consequence of this experience. Urban sustainability and sustainable urban development, that is so spoken these days, should be considered as a strategy, goal and policy, beyond just considering environmental issues and protection. The desert-s climate has made a bunch of problems for its residents. Very hot and dry climate in summers of the Iranian desert areas, when there was no access to modern energy source and mechanical cooling systems in the past, made Iranian architects to design a natural ventilation system in their buildings. The structure, like a tower going upward the roof, besides its ornamental application and giving a beautiful view to the building, was used as a spontaneous ventilation system. In this paper, it has been tried to name the problems of the area and it-s inconvenience, then some answers has pointed out in order to solve the problems and as an alternative solution BADGIR (wind-catcher) has been introduced as a solution knowing that it has been playing a major role in dealing with the problems.

Keywords: Productivity, Sustainable development, hot aridzones, climate design, BADGIR (wind-catcher)

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Authors: M. Sedighizadeh, A. Rezazadeh

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This paper presents an interval-based multi-attribute decision making (MADM) approach in support of the decision process with imprecise information. The proposed decision methodology is based on the model of linear additive utility function but extends the problem formulation with the measure of composite utility variance. A sample study concerning with the evaluation of electric generation expansion strategies is provided showing how the imprecise data may affect the choice toward the best solution and how a set of alternatives, acceptable to the decision maker (DM), may be identified with certain confidence.

Keywords: Decision Making, Power Generation, ElectricUtilities, Resource Planning.

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Authors: A. Starczewska, A. Nawrat, K. Daniec, J. Homa, K. Hołda

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Border Gateway Protocol (BGP) is the main routing protocol that enables routing establishment between all autonomous systems, which are the basic administrative units of the internet. Due to the poor protection of BGP, it is important to use additional BGP security systems. Many solutions to this problem have been proposed over the years, but none of them have been implemented on a global scale. This article describes a system capable of building images of real-time BGP network topology in order to detect BGP anomalies. Our proposal performs a detailed analysis of BGP messages that come into local network cards supplemented by information collected by remote collectors in different localizations.

Keywords: Border Gateway Protocol, BGP, BGP hijacking, cybersecurity, detection.

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Authors: M. R. Dahmardeh Ghaleno, M. Nohtani, S. Khaledi

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Flood simulation and prediction is one of the most active research areas in surface water management. WetSpa is a distributed, continuous, and physical model with daily or hourly time step that explains precipitation, runoff, and evapotranspiration processes for both simple and complex contexts. This model uses a modified rational method for runoff calculation. In this model, runoff is routed along the flow path using Diffusion-Wave equation which depends on the slope, velocity, and flow route characteristics. Golestan Dam Basin is located in Golestan province in Iran and it is passing over coordinates 55° 16´ 50" to 56° 4´ 25" E and 37° 19´ 39" to 37° 49´ 28"N. The area of the catchment is about 224 km², and elevations in the catchment range from 414 to 2856 m at the outlet, with average slope of 29.78%. Results of the simulations show a good agreement between calculated and measured hydrographs at the outlet of the basin. Drawing upon Nash-Sutcliffe model efficiency coefficient for calibration periodic model estimated daily hydrographs and maximum flow rate with an accuracy up to 59% and 80.18%, respectively.

Keywords: Watershed simulation, WetSpa, stream flow, flood prediction.

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Authors: Jianwei Wu

Abstract:

Based on the one-bit-matching principle and by turning the de-mixing matrix into an orthogonal matrix via certain normalization, Ma et al proposed a one-bit-matching learning algorithm on the Stiefel manifold for independent component analysis [8]. But this algorithm is not adaptive. In this paper, an algorithm which can extract kurtosis and its sign of each independent source component directly from observation data is firstly introduced.With the algorithm , the one-bit-matching learning algorithm is revised, so that it can make the blind separation on the Stiefel manifold implemented completely in the adaptive mode in the framework of natural gradient.

Keywords: Independent component analysis, kurtosis, Stiefel manifold, super-gaussians or sub-gaussians.

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Authors: Smain M. Bekhti, Nada T. Matta

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Knowledge sharing in general and the contextual access to knowledge in particular, still represent a key challenge in the knowledge management framework. Researchers on semantic web and human machine interface study techniques to enhance this access. For instance, in semantic web, the information retrieval is based on domain ontology. In human machine interface, keeping track of user's activity provides some elements of the context that can guide the access to information. We suggest an approach based on these two key guidelines, whilst avoiding some of their weaknesses. The approach permits a representation of both the context and the design rationale of a project for an efficient access to knowledge. In fact, the method consists of an information retrieval environment that, in the one hand, can infer knowledge, modeled as a semantic network, and on the other hand, is based on the context and the objectives of a specific activity (the design). The environment we defined can also be used to gather similar project elements in order to build classifications of tasks, problems, arguments, etc. produced in a company. These classifications can show the evolution of design strategies in the company.

Keywords: Project Memory, Knowledge re-use, Design rationale, Knowledge representation.

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Authors: Ahmed Mahmoudi, Imen Mejri, Mohamed A. Abbassi, Ahmed Omri

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A numerical study based on the Lattice Boltzmann Method (LBM) is proposed to solve one, two and three dimensional heat and mass transfer for isothermal carbonization of thick wood particles. To check the validity of the proposed model, computational results have been compared with the published data and a good agreement is obtained. Then, the model is used to study the effect of reactor temperature and thermal boundary conditions, on the evolution of the local temperature and the mass distributions of the wood particle during carbonization

Keywords: Lattice Boltzmann Method, pyrolysis conduction, carbonization, Heat and mass transfer.

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Authors: Jiantao Weng, Yujie Zhao

Abstract:

With the improvement of living quality and demand for nighttime activities in China, the current situation of outdoor lighting environment at night needs to be assessed. Lighting environment at night plays an important role to guarantee night safety. Two typical residential communities in Hangzhou were selected. A comprehensive test method of outdoor lighting environment at night was established. The road, fitness area, landscape, playground and entrance were included. Field measurements and questionnaires were conducted in these two residential communities. The characteristics of residents’ habits and the subjective evaluation on different aspects of outdoor lighting environment at night were collected via questionnaire. A safety evaluation system on the outdoor lighting environment at night in the residential community was established. The results show that there is a big difference in illumination in different areas. The lighting uniformities of roads cannot meet the requirement of lighting standard in China. Residents pay more attention to the lighting environment of the fitness area and road than others. This study can provide guidance for the design and management of outdoor lighting environment at night.

Keywords: Residential community, lighting environment, night, field measurement.

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Authors: Khairuddin Bin Osman, Ngo Boon Kiat, A. Hamid Bin hamidon, Khairul Azha Bin A. Aziz, Hazli Rafis Bin Abdul Rahman, Mazran Bin Esro

Abstract:

Conventional industrial monitoring systems are tedious, inefficient and the at times integrity of the data is unreliable. The objective of this system is to monitor industrial processes specifically the fluid level which will measure the instantaneous fluid level parameter and respond by text messaging the exact value of the parameter to the user when being enquired by a privileged access user. The development of the embedded program code and the circuit for fluid level measuring are discussed as well. Suggestions for future implementations and efficient remote monitoring works are included.

Keywords: Industrial monitoring system, text messaging, embedded programming.

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Authors: Jyong Lin, Shih-Chang Chen, Yu-Tsen Shih, Shi-Huang Chen

Abstract:

This paper presents a remote on-line diagnostic system for vehicles via the use of On-Board Diagnostic (OBD), GPS, and 3G techniques. The main parts of the proposed system are on-board computer, vehicle monitor server, and vehicle status browser. First, the on-board computer can obtain the location of deriver and vehicle status from GPS receiver and OBD interface, respectively. Then on-board computer will connect with the vehicle monitor server through 3G network to transmit the real time vehicle system status. Finally, vehicle status browser could show the remote vehicle status including vehicle speed, engine rpm, battery voltage, engine coolant temperature, and diagnostic trouble codes. According to the experimental results, the proposed system can help fleet managers and car knockers to understand the remote vehicle status. Therefore this system can decrease the time of fleet management and vehicle repair due to the fleet managers and car knockers who find the diagnostic trouble messages in time.

Keywords: Diagnostic Trouble Code (DTC), Electronic Control Unit (ECU), Global Position System (GPS), On-Board Diagnostic (OBD).

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Authors: Hanaa M. Abdelgawad, Mona Safar, Ayman M. Wahba

Abstract:

Real time image and video processing is a demand in many computer vision applications, e.g. video surveillance, traffic management and medical imaging. The processing of those video applications requires high computational power. Thus, the optimal solution is the collaboration of CPU and hardware accelerators. In this paper, a Canny edge detection hardware accelerator is proposed. Edge detection is one of the basic building blocks of video and image processing applications. It is a common block in the pre-processing phase of image and video processing pipeline. Our presented approach targets offloading the Canny edge detection algorithm from processing system (PS) to programmable logic (PL) taking the advantage of High Level Synthesis (HLS) tool flow to accelerate the implementation on Zynq platform. The resulting implementation enables up to a 100x performance improvement through hardware acceleration. The CPU utilization drops down and the frame rate jumps to 60 fps of 1080p full HD input video stream.

Keywords: High Level Synthesis, Canny edge detection, Hardware accelerators, and Computer Vision.

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Authors: Tea Poklepović, Zdravka Aljinović, Mario Matković

Abstract:

Modern Portfolio Theory (MPT) according to Markowitz states that investors form mean-variance efficient portfolios which maximizes their utility. Markowitz proposed the standard deviation as a simple measure for portfolio risk and the lower semi-variance as the only risk measure of interest to rational investors. This paper uses a third volatility estimator based on intraday data and compares three efficient frontiers on the Croatian Stock Market. The results show that range-based volatility estimator outperforms both mean-variance and lower semi-variance model.

Keywords: Variance, lower semi-variance, range-based volatility.

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