Search results for: Cost and Profit

Authors: Jayant Sakhardande, Pratik Pattanayak, Mita Bhowmick

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An efficient reintegration of the disabled people in the family and society should be fulfilled; hence it is strongly needful to assist their diminished functions or to replace the totally lost functions. Assistive technology helps in neutralizing the impairment. Recent advancements in embedded systems have opened up a vast area of research and development for affordable and portable assistive devices for the visually impaired. Granted there are many assistive devices on the market that are able to detect obstacles, and numerous research and development currently in process to alleviate the cause, unfortunately the cost of devices, size of devices, intrusiveness and higher learning curve prevents the visually impaired from taking advantage of available devices. This project aims at the design and implementation of a detachable unit which is robust, low cost and user friendly, thus, trying to aggrandize the functionality of the existing white cane, to concede above-knee obstacle detection. The designed obstruction detector uses ultrasound sensors for detecting the obstructions before direct contact. It bestows haptic feedback to the user in accordance with the position of the obstacle.

Keywords: Visually impaired, Ultrasonic sensors, Obstruction detector, Mobility aid

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Authors: Jordan Georgiev Deliversky

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Fight against migrant smuggling has been put as a priority issues at the European Union policy agenda for more than a decade. The trafficked person, who has been targeted as the object of criminal exploitation, is specifically unique for human trafficking. Generally, the beginning of human trafficking activities is related to profit from the victim’s exploitation. The objective of this paper is to present measures that could result in the limitation of corruption mainly through analyzing the existing legislation framework against corruption in Europe. The analysis is focused on exploring the multiple origins of factors influencing migration processes in Europe, as corruption could be characterized as one of the most significant reasons for refugees to flee their countries. The main results show that law enforcement must turn the focus on the financing of the organized crime groups that are involved in migrant smuggling activities. Corruption has a significant role in managing smuggling operations and in particular when criminal organizations and networks are involved. Illegal migrants and refugees usually represent significant sources of additional income for officials involved in the process of boarding protection and immigration control within the European Union borders.

Keywords: Corruption, influence, human smuggling, legislation, migration.

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Authors: Nader Gharibnavaz, Hossein Yazdi

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If organizations like Mellat Bank want to identify its customer market completely to reach its specified goals, it can segment the market to offer the product package to the right segment. Our objective is to offer a segmentation model for Iran banking market in Mellat bank view. The methodology of this project is combined by “segmentation on the basis of four part-quality variables" and “segmentation on the basis of different in means". Required data are gathered from E-Systems and researcher personal observation. Finally, the research offers the organization that at first step form a four dimensional matrix with 756 segments using four variables named value-based, behavioral, activity style, and activity level, and at the second step calculate the means of profit for every cell of matrix in two distinguished work level (levels α1:normal condition and α2: high pressure condition) and compare the segments by checking two conditions that are 1- homogeneity every segment with its sub segment and 2- heterogeneity with other segments, and so it can do the necessary segmentation process. After all, the last offer (more explained by an operational example and feedback algorithm) is to test and update the model because of dynamic environment, technology, and banking system.

Keywords: market segmentation model, banking system, Mellat bank

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Authors: Madhukar Nagare, Pankaj Dutta

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Inventory decisional environment of short life-cycle products is full of uncertainties arising from randomness and fuzziness of input parameters like customer demand requiring modeling under hybrid uncertainty. Prior inventory models incorporating fuzzy demand have unfortunately ignored stochastic variation of demand. This paper determines an unambiguous optimal order quantity from a set of n fuzzy observations in a newsvendor inventory setting in presence of fuzzy random variable demand capturing both fuzzy perception and randomness of customer demand. The stress of this paper is in providing solution procedure that attains optimality in two steps with demand information availability in linguistic phrases leading to fuzziness along with stochastic variation. The first step of solution procedure identifies and prefers one best fuzzy opinion out of all expert opinions and the second step determines optimal order quantity from the selected event that maximizes profit. The model and solution procedure is illustrated with a numerical example.

Keywords: Fuzzy expected value, Fuzzy random demand, Hybrid uncertainty, Optimal order quantity, Single-period inventory

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Authors: Geoffrey J. Blanford, Christoph Weissbart

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The prospects for the European power sector indicate that it has to almost fully decarbonize in order to reach the economy-wide target of CO₂-emission reduction. We apply the EU-REGEN model to explain the penetration of RES from an economic perspective, their spatial distribution, and the complementary role of conventional generation technologies. Furthermore, we identify economic consequences of national energy and climate targets. Our study shows that onshore wind power will be the most crucial generation technology for the future European power sector. Its geographic distribution is driven by resource quality. Gas power will be the major conventional generation technology for backing-up wind power. Moreover, a complete phase out of coal power proves to be not economically optimal. The paper demonstrates that existing national targets have a negative impact, especially on the German region with higher prices and lower revenues. The remaining regions profit are hardly affected. We encourage an EU-wide coordination on the expansion of wind power with harmonized policies. Yet, this requires profitable market structures for both, RES and conventional generation technologies.

Keywords: European decarbonization pathway, power market investment, public policies, technology choice.

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Authors: J. H. Park, S. K. Lee, Y. W. Kim, D. C. Ko

Abstract:

A large variety of pipe flange is required in marine and construction industry. Pipe flanges are usually welded or screwed to the pipe end and are connected with bolts. This approach is very simple and widely used for a long time; however, it results in high development cost and low productivity, and the productions made by this approach usually have safety problem at the welding area. In this research, a new approach of forming pipe flange based on cold forging and floating die concept is presented. This innovative approach increases the effectiveness of the material usage and save the time cost compared with conventional welding method. To ensure the dimensional accuracy of the final product, the finite element analysis (FEA) was carried out to simulate the process of cold forging, and the orthogonal experiment methods were used to investigate the influence of four manufacturing factors (pin die angle, pipe flange angle, rpm, pin die distance from clamp jig) and predicted the best combination of them. The manufacturing factors were obtained by numerical and experimental studies and it shows that the approach is very useful and effective for the forming of pipe flange, and can be widely used later.

Keywords: Cold forging, FEA, finite element analysis, Forge- 3D, rotating forming, tubes.

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Authors: A. R. Seifi

Abstract:

This work presents a new algorithm based on a combination of fuzzy (FUZ), Dynamic Programming (DP), and Genetic Algorithm (GA) approach for capacitor allocation in distribution feeders. The problem formulation considers two distinct objectives related to total cost of power loss and total cost of capacitors including the purchase and installation costs. The novel formulation is a multi-objective and non-differentiable optimization problem. The proposed method of this article uses fuzzy reasoning for sitting of capacitors in radial distribution feeders, DP for sizing and finally GA for finding the optimum shape of membership functions which are used in fuzzy reasoning stage. The proposed method has been implemented in a software package and its effectiveness has been verified through a 9-bus radial distribution feeder for the sake of conclusions supports. A comparison has been done among the proposed method of this paper and similar methods in other research works that shows the effectiveness of the proposed method of this paper for solving optimum capacitor planning problem.

Keywords: Capacitor planning, Fuzzy logic method, Genetic Algorithm, Dynamic programming, Radial Distribution feeder

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Authors: Satjaporn Tungsong, Gun Srijuntongsiri

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This research seeks to investigate the frequency and profitability of index arbitrage opportunities involving the SET50 futures, SET50 component stocks, and the ThaiDEX SET50 ETF (ticker symbol: TDEX). In particular, the frequency and profit of arbitrage are measured in the following three arbitrage tests: (1) SET50 futures vs. ThaiDEX SET50 ETF, (2) SET50 futures vs. SET50 component stocks, and (3) ThaiDEX SET50 ETF vs. SET50 component stocks are investigated. For tests (2) and (3), the problems involve conic optimization and quadratic programming as subproblems. This research is first to apply conic optimization and quadratic programming techniques in the context of index arbitrage and is first to investigate such index arbitrage in the Thai equity and derivatives markets. Thus, the contribution of this study is twofold. First, its results would help understand the contribution of the derivatives securities to the efficiency of the Thai markets. Second, the methodology employed in this study can be applied to other geographical markets, with minor adjustments.

Keywords: Conic optimization, Equity index arbitrage, Executionlags, Quadratic programming, SET50 index futures, ThaiDEX SET50ETF, Transaction costs

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Authors: Jingya Liu, Yue Wu, Jiabin Luo

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This work investigates an intermodal transportation system for delivering goods from a Regional Distribution Centre to supermarkets on the Isle of Wight (IOW) via the port of Southampton or Portsmouth in the UK. We consider this integrated logistics chain as a 3-echelon transportation system. In such a system, there are two types of transport methods used to deliver goods across the Solent Channel: one is accompanied transport, which is used by most supermarkets on the IOW, such as Spar, Lidl and Co-operative food; the other is unaccompanied transport, which is used by Aldi. Five transport scenarios are studied based on different transport modes and ferry routes. The aim is to determine an optimal delivery plan for supermarkets of different business scales on IOW, in order to minimise the total running cost, fuel consumptions and carbon emissions. The problem is modelled as a vehicle routing problem with time windows and solved by genetic algorithm. The computing results suggested that accompanied transport is more cost efficient for small and medium business-scale supermarket chains on IOW, while unaccompanied transport has the potential to improve the efficiency and effectiveness of large business scale supermarket chains.

Keywords: Genetic algorithm, intermodal transport system, Isle of Wight, optimization, supermarket.

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Authors: Manas Ranjan Kabat, Manoj Kumar Patel, Chita Ranjan Tripathy

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Many multimedia communication applications require a source to transmit messages to multiple destinations subject to quality of service (QoS) delay constraint. To support delay constrained multicast communications, computer networks need to guarantee an upper bound end-to-end delay from the source node to each of the destination nodes. This is known as multicast delay problem. On the other hand, if the same message fails to arrive at each destination node at the same time, there may arise inconsistency and unfairness problem among users. This is related to multicast delayvariation problem. The problem to find a minimum cost multicast tree with delay and delay-variation constraints has been proven to be NP-Complete. In this paper, we propose an efficient heuristic algorithm, namely, Economic Delay and Delay-Variation Bounded Multicast (EDVBM) algorithm, based on a novel heuristic function, to construct an economic delay and delay-variation bounded multicast tree. A noteworthy feature of this algorithm is that it has very high probability of finding the optimal solution in polynomial time with low computational complexity.

Keywords: EDVBM, Heuristic algorithm, Multicast tree, QoS routing, Shortest path.

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Authors: Cuong D. Dao, Rob J.I. Basten, Andreas Hartmann

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This paper studies the optimal maintenance planning of preventive maintenance and renewal activities for components in a single railway track when the available time for maintenance is limited. The rail-track system consists of several types of components, such as rail, ballast, and switches with different preventive maintenance and renewal intervals. To perform maintenance or renewal on the track, a train free period for maintenance, called a possession, is required. Since a major possession directly affects the regular train schedule, maintenance and renewal activities are clustered as much as possible. In a highly dense and utilized railway network, the possession time on the track is critical since the demand for train operations is very high and a long possession has a severe impact on the regular train schedule. We present an optimization model and investigate the maintenance schedules with and without the possession capacity constraint. In addition, we also integrate the social-economic cost related to the effects of the maintenance time to the variable possession cost into the optimization model. A numerical example is provided to illustrate the model.

Keywords: Rail-track components, maintenance, optimal clustering, possession capacity.

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Authors: Bachir Bentouati, Lakhdar Chaib, Saliha Chettih, Gai-Ge Wang

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The problem of economic dispatch (ED) is the basic problem of power framework, its main goal is to find the most favorable generation dispatch to generate each unit, reduce the whole power generation cost, and meet all system limitations. A heuristic algorithm, recently developed called Stud Krill Herd (SKH), has been employed in this paper to treat non-convex ED problems. The proposed KH has been modified using Stud selection and crossover (SSC) operator, to enhance the solution quality and avoid local optima. We are demonstrated SKH effects in two case study systems composed of 13-unit and 40-unit test systems to verify its performance and applicability in solving the ED problems. In the above systems, SKH can successfully obtain the best fuel generator and distribute the load requirements for the online generators. The results showed that the use of the proposed SKH method could reduce the total cost of generation and optimize the fulfillment of the load requirements.

Keywords: Stud Krill Herd, economic dispatch, crossover, stud selection, valve-point effect.

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Authors: Aqeel Akhtar

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One of prevailing modes of finance in emerging Islamic banking system is Murabah’a. It means a financial dealing or transaction in which seller tells cost of the goods to be sold to buyer. Otherwise, the transaction would become invalid. In this mainstream, import Murabah’a transaction is divergent in such a way that the cost is not recognized and identified due to execution of import transaction in foreign currency i.e. US Dollar and the next transaction of Murabaha’a with the client is executed in local currency. Since this transaction is executed in dual currency i.e. bank pays supplier in foreign currency and executes Murabah’a with its client in local currency and it is not allowed in according to Islamic Injunctions as mentioned in hadith narrated by Hazrat Ibn-e-Umar (May Allah be pleased with them) used to sell his camels with Dirhams and take dinars instead and vice versa. Upon revealing before the Prophet (Peace be upon him), he was advised that it must not be contingent in the agreement and the ready rate would be applied and possession of one of the consideration is compulsory. The solution in this regard is that the import Murabah’a transaction should be in single currency However, other currency can be paid in payment at the time of payment in a very indispensable situation provided that ready rate would be applied. Moreover, some of other solutions have also been given in this regard.

Keywords: Shariah compliance, import murabaha, islamic banking, product development.

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Authors: Yessengeldy Kuanyshpayev

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Now in some countries of the world the cellular market is on the point of saturation, in others - positive dynamics of development kept on. The reasons for it are also different, but there are united by their general susceptibility to innovation changes, if they are really innovative. If to take as an example the cellular market of Kazakhstan it is defined by the low percent of smart phones at consumers, the low population density, undercapacity of the 3G channel, and absence of universal access to the LTE technology that limits dynamical growth of this branch. These moments are aggravated by failures of starting commercial projects by private companies which prevent to be implemented and widely adopted to a new product among consumers. The object of the research is possible integration of wireless and program technologies at which introduction the idea can regenerate in an innovation. The analysis of existing projects in the market and the possible union of the technologies through a prism of theoretical bases of innovative activity shows that efficiency of the company by development and introduction of innovations is possible only thanks to strict observance of all terms and conditions of the innovative process which main term is profit. Despite that fact that on a global scale the innovativeness issue of companies is very popular, there are no researches about possibility of innovative breaks in the field of wireless access to the Internet in the cellular market of Kazakhstan.

Keywords: Cellular market, commercialization, innovation, the effectiveness of company.

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Authors: V. V. Singh, Yusuf Ibrahim Gwanda, Rajesh Prasad

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In this paper, we focus on the reliability and performance analysis of Computer Centre (CC) at Yobe State University, Damaturu, Nigeria. The CC consists of three servers: one database mail server, one redundant and one for sharing with the client computers in the CC (called as a local server). Observing the different possibilities of the functioning of the CC, the analysis has been done to evaluate the various popular measures of reliability such as availability, reliability, mean time to failure (MTTF), profit analysis due to the operation of the system. The system can ultimately fail due to the failure of router, redundant server before repairing the mail server and switch failure. The system can also partially fail when a local server fails. The failed devices have restored according to Least Recently Used (LRU) techniques. The system can also fail entirely due to a cooling failure of the server, electricity failure or some natural calamity like earthquake, fire tsunami, etc. All the failure rates are assumed to be constant and follow exponential time distribution, while the repair follows two types of distributions: i.e. general and Gumbel-Hougaard family copula distribution.

Keywords: Reliability, availability Gumbel-Hougaard family copula, MTTF, internet data center.

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Authors: Obeidat I., Bsoul M., Khasawneh A., Kilani Y.

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This paper simulates the ad-hoc mesh network in rural areas, where such networks receive great attention due to their cost, since installing the infrastructure for regular networks in these areas is not possible due to the high cost. The distance between the communicating nodes is the most obstacles that the ad-hoc mesh network will face. For example, in Terranet technology, two nodes can communicate if they are only one kilometer far from each other. However, if the distance between them is more than one kilometer, then each node in the ad-hoc mesh networks has to act as a router that forwards the data it receives to other nodes. In this paper, we try to find the critical number of nodes which makes the network fully connected in a particular area, and then propose a method to enhance the intermediate node to accept to be a router to forward the data from the sender to the receiver. Much work was done on technological changes on peer to peer networks, but the focus of this paper will be on another feature which is to find the minimum number of nodes needed for a particular area to be fully connected and then to enhance the users to switch on their phones and accept to work as a router for other nodes. Our method raises the successful calls to 81.5% out of 100% attempt calls.

Keywords: Adjacency matrix, Ad-hoc mesh network, Connectedness, Terranet technology

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Authors: Kaustav Kundu, Alberto Portioli Staudacher

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Construction industry plays a vital role in the economy of the world. However, due to high uncertainty and variability in the industry, its performance is not as efficient in terms of quality, lead times, productivity and costs as of other industries. Moreover, there are continuous conflicts among the different actors in the construction supply chains in terms of profit sharing. Previous studies suggested partnership as an important approach to promote cooperation among the different actors in the construction supply chains and thereby it improves the overall performance. Construction practitioners tried to focus on partnership which can enhance the performance of construction supply chains but they are not fully aware of different approaches and techniques for improving partnership. In this research, a systematic review on partnership in relation to construction supply chains is carried out to understand different elements influencing the partnership. The research development of this domain is analyzed by reviewing selected articles published from 1996 to 2015. Based on the papers, three major elements influencing partnership in construction supply chains are identified: ‘Lean approach’, ‘Relationship building’ and ‘E-commerce applications’. This study analyses the contributions in the areas within each element and provides suggestions for future developments of partnership in construction supply chains.

Keywords: Partnership, construction, lean, SCM, supply chain management.

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Authors: Mujahid S. Alharbi

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The construction of process plants in oil and gas-producing countries, such as Saudi Arabia, necessitates substantial investment in design and building. Each new plant, while unique, includes common building types, suggesting an opportunity for design standardization. This study investigates the adoption of standardized Issue for Construction (IFC) packages for non-process buildings in Saudi Aramco. A SWOT analysis presents the strengths, weaknesses, opportunities, and threats of this approach. The approach's benefits are illustrated using the Hawiyah Unayzah Gas Reservoir Storage Program (HUGRSP) as a case study. Standardization not only offers significant cost savings and operational efficiencies, but also expedites project timelines, reduces the potential for change orders, and fosters local economic growth by allocating building tasks to local contractors. Standardization also improves project management by easing interface constraints between different contractors and promoting adaptability to future industry changes. This research underscores the standardization of non-process buildings as a powerful strategy for cost optimization, efficiency enhancement, and local economic development in process plant construction within the oil and gas sector.

Keywords: Building, construction, management, project, standardization.

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Authors: Seyed Hossein Iranmanesh, Zahra Mokhtari

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Estimation time and cost of work completion in a project and follow up them during execution are contributors to success or fail of a project, and is very important for project management team. Delivering on time and within budgeted cost needs to well managing and controlling the projects. To dealing with complex task of controlling and modifying the baseline project schedule during execution, earned value management systems have been set up and widely used to measure and communicate the real physical progress of a project. But it often fails to predict the total duration of the project. In this paper data mining techniques is used predicting the total project duration in term of Time Estimate At Completion-EAC (t). For this purpose, we have used a project with 90 activities, it has updated day by day. Then, it is used regular indexes in literature and applied Earned Duration Method to calculate time estimate at completion and set these as input data for prediction and specifying the major parameters among them using Clem software. By using data mining, the effective parameters on EAC and the relationship between them could be extracted and it is very useful to manage a project with minimum delay risks. As we state, this could be a simple, safe and applicable method in prediction the completion time of a project during execution.

Keywords: Data Mining Techniques, Earned Duration Method, Earned Value, Estimate At Completion.

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Authors: Meng Wu

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Motion planning is a common task required to be fulfilled by robots. A strategy combining Ant Colony Optimization (ACO) and gravity gradient inversion algorithm is proposed for motion planning of mobile robots. In this paper, in order to realize optimal motion planning strategy, the cost function in ACO is designed based on gravity gradient inversion algorithm. The obstacles around mobile robot can cause gravity gradient anomalies; the gradiometer is installed on the mobile robot to detect the gravity gradient anomalies. After obtaining the anomalies, gravity gradient inversion algorithm is employed to calculate relative distance and orientation between mobile robot and obstacles. The relative distance and orientation deduced from gravity gradient inversion algorithm is employed as cost function in ACO algorithm to realize motion planning. The proposed strategy is validated by the simulation and experiment results.

Keywords: Motion planning, gravity gradient inversion algorithm, ant colony optimization.

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Authors: Thandar Aung, Tun Lin Naing

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In this paper, the DC-link voltage control of DC-DC boost converter–inverter system is proposed. The mathematical model is developed from four different sub-circuits that depended on the switch positions. The developed differential equations are combined to develop the dynamic model. Transfer function is generated from the switched function model. Fluctuation of DC-link voltage causes connected loads malfunction. For this problem, a kind of traditional controller, the PI controller is applied to achieve constant DC-link voltage. The PI controller gains are obtained based on transfer function step response. The simulation work has been studied by using MATLAB/Simulink software and hardware prototype is implemented with a low-cost microcontroller Arduino Nano. Experimental results are collected by using ArduinoIO library package. Closed-loop DC-link voltage control system is tested with various line and load disturbances. It is found that the experimental results give equal responses with the simulation results.

Keywords: ArduinoIO library package, boost converter-inverter system, low cost microcontroller, PI controller, switched function model.

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Authors: Ming Ling Lai, Zalilawati Yaacob, Normah Omar, Norashikin Abdul Aziz, Bee Wah Yap

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This paper aims to (1) analyze the profiles of transgressors (detected evaders); (2) examine reason(s) that triggered a tax audit, causes of tax evasion, audit timeframe and tax penalty charged; and (3) to assess if tax auditors followed the guidelines as stated in the 'Tax Audit Framework' when conducting tax audits. In 2011, the Inland Revenue Board Malaysia (IRBM) had audited and finalized 557 company cases. With official permission, data of all the 557 cases were obtained from the IRBM. Of these, a total of 421 cases with complete information were analyzed. About 58.1% was small and medium corporations and from the construction industry (32.8%). The selection for tax audit was based on risk analysis (66.8%), information from third party (11.1%), and firm with low profitability or fluctuating profit pattern (7.8%). The three persistent causes of tax evasion by firms were over claimed expenses (46.8%), fraudulent reporting of income (38.5%) and overstating purchases (10.5%). These findings are consistent with past literature. Results showed that tax auditors took six to 18 months to close audit cases. More than half of tax evaders were fined 45% on additional tax raised during audit for the first offence. The study found tax auditors did follow the guidelines in the 'Tax Audit Framework' in audit selection, settlement and penalty imposition.

Keywords: Corporate tax fraud, tax non-compliance, tax evasion, tax audit, fraudulent reporting.

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Authors: Yasir M. Alyazichi, Brian G. Jones, Errol McLean, Hamd N. Altalyan, Ali K. M. Al-Nasrawi

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The main purpose of this study is to assess the sediment quality and potential ecological risk in marine sediments in Gymea Bay located in south Sydney, Australia. A total of 32 surface sediment samples were collected from the bay. Current track trajectories and velocities have also been measured in the bay. The resultant trace elements were compared with the adverse biological effect values Effect Range Low (ERL) and Effect Range Median (ERM) classifications. The results indicate that the average values of chromium, arsenic, copper, zinc, and lead in surface sediments all reveal low pollution levels and are below ERL and ERM values. The highest concentrations of trace elements were found close to discharge points and in the inner bay, and were linked with high percentages of clay minerals, pyrite and organic matter, which can play a significant role in trapping and accumulating these elements. The lowest concentrations of trace elements were found to be on the shoreline of the bay, which contained high percentages of sand fractions. It is postulated that the fine particles and trace elements are disturbed by currents and tides, then transported and deposited in deeper areas. The current track velocities recorded in Gymea Bay had the capability to transport fine particles and trace element pollution within the bay. As a result, hydrodynamic measurements were able to provide useful information and to help explain the distribution of sedimentary particles and geochemical properties. This may lead to knowledge transfer to other bay systems, including those in remote areas. These activities can be conducted at a low cost, and are therefore also transferrable to developing countries. The advent of portable instruments to measure trace elements in the field has also contributed to the development of these lower cost and easily applied methodologies available for use in remote locations and low-cost economies.

Keywords: Current track velocities, Gymea Bay, surface sediments, trace elements.

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Authors: Young-Hyun Seo, Hyunwoo Park, Dong-Kyu Kim, Seung-Young Kho

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The purpose of this study is providing an improved mode choice model considering parameters including age grouping of prime-aged and old age. In this study, 2010 Household Travel Survey data were used and improper samples were removed through the analysis. Chosen alternative, date of birth, mode, origin code, destination code, departure time, and arrival time are considered from Household Travel Survey. By preprocessing data, travel time, travel cost, mode, and ratio of people aged 45 to 55 years, 55 to 65 years and over 65 years were calculated. After the manipulation, the mode choice model was constructed using LIMDEP by maximum likelihood estimation. A significance test was conducted for nine parameters, three age groups for three modes. Then the test was conducted again for the mode choice model with significant parameters, travel cost variable and travel time variable. As a result of the model estimation, as the age increases, the preference for the car decreases and the preference for the bus increases. This study is meaningful in that the individual and households characteristics are applied to the aggregate model.

Keywords: Age grouping, aging, mode choice model, multinomial logit model.

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Authors: Md. Alamgir Hossain, Md. Zakir Hossain, Md. Atiqur Rahman

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Tidal power can play a vital role in integrating as new source of renewable energy to the off-grid power connection in isolated areas, namely Sandwip, in Bangladesh. It can reduce the present energy crisis and improve the social, environmental and economic perspective of Bangladesh. Tidal energy is becoming popular around the world due to its own facilities. The development of any country largely depends on energy sector improvement. Lack of energy sector is because of hampering progress of any country development, and the energy sector will be stable by only depend on sustainable energy sources. Renewable energy having environmental friendly is the only sustainable solution of secure energy system. Bangladesh has a huge potential of tidal power at different locations, but effective measures on this issue have not been considered sincerely. This paper summarizes the current energy scenario, and Bangladesh can produce power approximately 53.19 MW across the country to reduce the growing energy demand utilizing tidal energy as well as it is shown that Sandwip is highly potential place to produce tidal power, which is estimated approximately 16.49 MW by investing only US $10.37 million. Besides this, cost management for tidal power plant has been also discussed.

Keywords: Sustainable energy, tidal power, cost analysis, power demand, gas crisis.

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Authors: Maia Margvelashvili, Kakhaber Cheishvili, Ineza Vatsadze

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In Capitalism all economic activity rests upon a set of core institutional foundations, main from which are privately owned capital assets and profit. How these core institutional foundations are working in former soviet countries, in particular in Travel and Tourism Industry of Georgia? The role of Travel and Tourism as a key pillar of economic growth is being increasingly recognized by governments in all regions of the world. For the last few years Georgia succeeded in the World Bank and IFC “Doing Business” rankings. Despite of that, during decades totally different statistical data of the tourism sector were provided by the different State bodies; economic parameters were published few, or not published at all. The frequency and extent of property rights violation in Georgia has repeatedly been the subject of concern for the last decade. Total value of abrogated by the former Georgian Government private property is estimated approximately in US$4-5 billion. Thus, if economic profitability is unknown and property rights are not protected – that means that the main institutional foundations of capitalism in Georgia, are not working properly yet, that cause management problems at all levels of the national Travel and Tourism industry of Georgia.

Keywords: Institutional foundations of capitalism, Tourism management, Transition stage.

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Authors: M. R. Alrashidi, M. E. El-Hawary

Abstract:

Environmental awareness and the recent environmental policies have forced many electric utilities to restructure their operational practices to account for their emission impacts. One way to accomplish this is by reformulating the traditional economic dispatch problem such that emission effects are included in the mathematical model. This paper presents a Particle Swarm Optimization (PSO) algorithm to solve the Economic- Emission Dispatch problem (EED) which gained recent attention due to the deregulation of the power industry and strict environmental regulations. The problem is formulated as a multi-objective one with two competing functions, namely economic cost and emission functions, subject to different constraints. The inequality constraints considered are the generating unit capacity limits while the equality constraint is generation-demand balance. A novel equality constraint handling mechanism is proposed in this paper. PSO algorithm is tested on a 30-bus standard test system. Results obtained show that PSO algorithm has a great potential in handling multi-objective optimization problems and is capable of capturing Pareto optimal solution set under different loading conditions.

Keywords: Economic emission dispatch, economic cost dispatch, particle swarm, multi-objective optimization.

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Authors: Payam Asadi, Ali Bakhshi

Abstract:

In this study, a frame work for verification of famous seismic codes is utilized. To verify the seismic codes performance, damage quantity of RC frames is compared with the target performance. Due to the randomness property of seismic design and earthquake loads excitation, in this paper, fragility curves are developed. These diagrams are utilized to evaluate performance level of structures which are designed by the seismic codes. These diagrams further illustrate the effect of load combination and reduction factors of codes on probability of damage exceedance. Two types of structures; very high important structures with high ductility and medium important structures with intermediate ductility are designed by different seismic codes. The Results reveal that usually lower damage ratio generate lower probability of exceedance. In addition, the findings indicate that there are buildings with higher quantity of bars which they have higher probability of damage exceedance. Life-cycle cost analysis utilized for comparison and final decision making process.

Keywords: RC frame, fragility curve, performance-base design, life-cycle cost analyses, seismic design codes.

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Authors: Zahra Hatami, Hesham Ali, David Volkman

Abstract:

Selecting a portfolio for investing is a crucial decision for individuals and legal entities. In the last two decades, with economic globalization, a stream of financial innovations has rushed to the aid of financial institutions. The importance of selecting stocks for the portfolio is always a challenging task for investors. This study aims to create a financial network to identify optimal portfolios using network centralities metrics. This research presents a community detection technique of superior stocks that can be described as an optimal stock portfolio to be used by investors. By using the advantages of a network and its property in extracted communities, a group of stocks was selected for each of the various time periods. The performance of the optimal portfolios was compared to the famous index. Their Sharpe ratio was calculated in a timely manner to evaluate their profit for making decisions. The analysis shows that the selected potential portfolio from stocks with low centrality measurement can outperform the market; however, they have a lower Sharpe ratio than stocks with high centrality scores. In other words, stocks with low centralities could outperform the S&P500 yet have a lower Sharpe ratio than high central stocks.

Keywords: Portfolio management performance, network analysis, centrality measurements, Sharpe ratio.

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Authors: A. P. Kulkarni, P. Randive, A. R. Mache

Abstract:

In today-s era of plasma and laser cutting, machines using oxy-acetylene flame are also meritorious due to their simplicity and cost effectiveness. The objective to devise a Computer controlled Oxy-Fuel profile cutting machine arose from the increasing demand for metal cutting with respect to edge quality, circularity and lesser formation of redeposit material. The System has an 8 bit micro controller based embedded system, which assures stipulated time response. A new window based Application software was devised which takes a standard CAD file .DXF as input and converts it into numerical data required for the controller. It uses VB6 as a front end whereas MS-ACCESS and AutoCAD as back end. The system is designed around AT89C51RD2, powerful 8 bit, ISP micro controller from Atmel and is optimized to achieve cost effectiveness and also maintains the required accuracy and reliability for complex shapes. The backbone of the system is a cleverly designed mechanical assembly along with the embedded system resulting in an accuracy of about 10 microns while maintaining perfect linearity in the cut. This results in substantial increase in productivity. The observed results also indicate reduced inter laminar spacing of pearlite with an increase in the hardness of the edge region.

Keywords: Computer-Control, Profile, Oxy-Fuel.

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