Search results for: Kronecker Product

Authors: Raid A. Al-Aomar

Abstract:

This paper presents an application of 5S lean technology to a production facility. Due to increased demand, high product variety, and a push production system, the plant has suffered from excessive wastes, unorganized workstations, and unhealthy work environment. This has translated into increased production cost, frequent delays, and low workers morale. Under such conditions, it has become difficult, if not impossible, to implement effective continuous improvement studies. Hence, the lean project is aimed at diagnosing the production process, streamlining the workflow, removing/reducing process waste, cleaning the production environment, improving plant layout, and organizing workstations. 5S lean technology is utilized for achieving project objectives. The work was a combination of both culture changes and tangible/physical changes on the shop floor. The project has drastically changed the plant and developed the infrastructure for a successful implementation of continuous improvement as well as other best practices and quality initiatives.

Keywords: 5S Technique, Continuous Improvement, Kaizen, Lean Technology, Work Methods, Work Standards

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Authors: Qi Xiu, Hiromu Hota, Yohsuke Ishii, Takuya Oda

Abstract:

Recently, collectable manufacturing data are rapidly increasing. On the other hand, mega recall is getting serious as a social problem. Under such circumstances, there are increasing needs for preventing mega recalls by defect analysis such as root cause analysis and abnormal detection utilizing manufacturing data. However, the time to classify strings in manufacturing data by traditional method is too long to meet requirement of quick defect analysis. Therefore, we present String Length Distribution Classification method (SLDC) to correctly classify strings in a short time. This method learns character features, especially string length distribution from Product ID, Machine ID in BOM and asset list. By applying the proposal to strings in actual manufacturing data, we verified that the classification time of strings can be reduced by 80%. As a result, it can be estimated that the requirement of quick defect analysis can be fulfilled.

Keywords: Data quality, feature selection, probability distribution, string classification, string length.

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Authors: Justus S, K Iyakutti

Abstract:

Object Relational Databases (ORDB) are complex in nature than traditional relational databases because they combine the characteristics of both object oriented concepts and relational features of conventional databases. Design of an ORDB demands efficient and quality schema considering the structural, functional and componential traits. This internal quality of the schema is assured by metrics that measure the relevant attributes. This is extended to substantiate the understandability, usability and reliability of the schema, thus assuring external quality of the schema. This work institutes a formalization of ORDB metrics; metric definition, evaluation methodology and the calibration of the metric. Three ORDB schemas were used to conduct the evaluation and the formalization of the metrics. The metrics are calibrated using content and criteria related validity based on the measurability, consistency and reliability of the metrics. Nominal and summative scales are derived based on the evaluated metric values and are standardized. Future works pertaining to ORDB metrics forms the concluding note.

Keywords: Measurements, Product metrics, Metrics calibration, Object-relational database.

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Authors: M. S. Gaafar, S. Y. Marzouk, I. S. Mahmoud, S. Al-Zobaidi

Abstract:

Makishima and Mackenzie model was used to simulation of acoustic properties (longitudinal and shear ultrasonic wave velocities, elastic moduli theoretically for many tellurite and borate glasses. The model was proposed mainly depending on the values of the experimentally measured density, which are obtained before. In this search work, we are trying to obtain the values of densities of amorphous glasses (as the density depends on the geometry of the network structure of these glasses). In addition, the problem of simulating the slope of linear regression between the experimentally determined bulk modulus and the product of packing density and experimental Young's modulus, were solved in this search work. The results showed good agreement between the experimentally measured values of densities and both ultrasonic wave velocities, and those theoretically determined.

Keywords: Glasses, ultrasonic wave velocities, elastic moduli, Makishima and Mackenzie model.

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Authors: Le Thuy Mai, Vu Nguyen Thanh

Abstract:

β-Glucosidase is an important enzyme for production of ethanol from lignocellulose. With hydrolytic activity on cellooligosaccharides, especially cellobiose, β-glucosidase removes product inhibitory effect on cellulases and forms fermentable sugars. In this study, β-glucosidase encoding gene (BGL1) from traditional starter yeast Saccharomycosis fibuligera BMQ908 was cloned and expressed in Pichia pastoris. BGL1 of S. fibuligera BMQ 908 shared 98% nucleotide homology with the closest GenBank sequence (M22475) but identity in amino-acid sequences of catalytic domains. Recombinant plasmid pPICZαA/BGL1 containing the sequence encoding BGL1 mature protein and α-factor secretion signal was constructed and transformed into methylotrophic yeast P. pastoris by electroporation. The recombinant strain produced single extracellular protein with molecular weight of 120 kDa and cellobiase activity of 60 IU/ml. The optimum pH of the recombinant β-glucosidase was 5.0 and the optimum temperature was 50°C.

Keywords: β-Glucosidase, Pichia pastoris, Saccharomycopsisfibuligera, recombinant enzyme.

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Authors: Sherine Beshara, Khaled S. El-Kilany, Noha M. Galal

Abstract:

Supply chain management has become more challenging with the emerging trend of globalization and sustainability. Lately, research related to perishable products supply chains, in particular agricultural food products, has emerged. This is attributed to the additional complexity of managing this type of supply chains with the recently increased concern of public health, food quality, food safety, demand and price variability, and the limited lifetime of these products. Inventory management for agrifood supply chains is of vital importance due to the product perishability and customers- strive for quality. This paper concentrates on developing a simulation model of a real life case study of a two echelon production-distribution system for agri-food products. The objective is to improve a set of performance measures by developing a simulation model that helps in evaluating and analysing the performance of these supply chains. Simulation results showed that it can help in improving overall system performance.

Keywords: Agri-food supply chains, inventory model, modelling and Simulation, supply chain.

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Authors: K. S. Jasmine, R. Vasantha

Abstract:

Component-Based software engineering provides an opportunity for better quality and increased productivity in software development by using reusable software components [10]. One of the most critical aspects of the quality of a software system is its performance. The systematic application of software performance engineering techniques throughout the development process can help to identify design alternatives that preserve desirable qualities such as extensibility and reusability while meeting performance objectives [1]. In the present scenario, software engineering methodologies strongly focus on the functionality of the system, while applying a “fix- it-later" approach to software performance aspects [3]. As a result, lengthy fine-tunings, expensive extra hard ware, or even redesigns are necessary for the system to meet the performance requirements. In this paper, we propose design based, implementation independent, performance prediction approach to reduce the overhead associated in the later phases while developing a performance guaranteed software product with the help of Unified Modeling Language (UML).

Keywords: Software Reuse, Component-based development, Unified Modeling Language, Software performance, Software components, Performance engineering, Software engineering.

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Authors: Amit Kohli, Aashim Wadhwa, Tapan Virmani, Ujjwal Jain

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The objective of present work is to stimulate the machining of material by electrical discharge machining (EDM) to give effect of input parameters like discharge current (Ip), pulse on time (Ton), pulse off time (Toff) which can bring about changes in the output parameter, i.e. material removal rate. Experimental data was gathered from die sinking EDM process using copper electrode and Medium Carbon Steel (AISI 1040) as work-piece. The rules of membership function (MF) and the degree of closeness to the optimum value of the MMR are within the upper and lower range of the process parameters. It was found that proposed fuzzy model is in close agreement with the experimental results. By Intelligent, model based design and control of EDM process parameters in this study will help to enable dramatically decreased product and process development cycle times.

Keywords: Electrical discharge Machining (EDM), Fuzzy Logic, Material removal rate (MRR), Membership functions (MF).

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Authors: Özlem Pelin Can

Abstract:

This study evaluated the microbiological quality and the sensory characteristics of carp fillets processed by the sousvide method when stored at 2 and 10 °C. Four different combinations of sauced–storage were studied then stored at 2 or 10 °C was evaluate periodically sensory, microbiological and chemical quality. Batches stored at 2 °C had lower growth rates of mesophiles and psychrotrophs. Moreover, these counts decreased by increasing the heating temperature and time. Staphylococcus aureus, Bacillus cereus, Clostridium perfringens and Listeria monocytogenes were not found in any of the samples. The heat treatment of 90 °C for 15 min and sauced was the most effective to ensure the safety and extend the shelf-life of sousvide carp preserving its sensory characteristics. This study establishes the microbiological quality of sous vide carp and emphasizes the relevance of the raw materials, heat treatment and storage temperature to ensure the safety of the product.

Keywords: Sous- vide methods, carp, sauce, microbiological, chemical and sensory quality

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Authors: Naeem Muhammad, Yves Vandewoude, Yolande Berbers, Robert Feldt

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The Requirements Abstraction Model (RAM) helps in managing abstraction in requirements by organizing them at four levels (product, feature, function and component). The RAM is adaptable and can be tailored to meet the needs of the various organizations. Because software requirements are an important source of information for developing high-level tests, organizations willing to adopt the RAM model need to know the suitability of the RAM requirements for developing high-level tests. To investigate this suitability, test cases from twenty randomly selected requirements were developed, analyzed and graded. Requirements were selected from the requirements document of a Course Management System, a web based software system that supports teachers and students in performing course related tasks. This paper describes the results of the requirements document analysis. The results show that requirements at lower levels in the RAM are suitable for developing executable tests whereas it is hard to develop from requirements at higher levels.

Keywords: Market-driven requirements engineering, requirements abstraction model, requirements abstraction, system testing.

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Authors: Sabina Akter, Osiris Valdez Banda, Pentti Kujala, Jani Romanoff

Abstract:

This paper examines the relationship between on-board environmental factors and customer overall satisfaction in the context of the cruise on-board experience. The on-board environmental factors considered are ambient, layout/design, social, product/service and on-board enjoyment factors. The study presents a data-driven framework and model for the on-board cruise experience. The data are collected from 893 respondents in an application of a self-administered online questionnaire of their cruise experience. This study reveals the cruise passengers’ on-board experience through the customer decision journey based on the publicly available data. Pearson correlation and regression analysis have been applied, and the results show a positive and a significant relationship between the environmental factors and on-board experience. These data help understand the cruise passengers’ on-board experience, which will be used for the ultimate decision-making process in cruise ship design.

Keywords: Cruise behavior, on-board environmental factors, on-board experience, user or customer satisfaction.

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Authors: Constantia Achilleos, Diofantos G. Hadjimitsis

Abstract:

Road industry has challenged the prospect of ecoconstruction. Pavements may fit within the framework of sustainable development. Hence, research implements assessments of conventional pavements impacts on environment in use of life cycle approach. To meet global, and often national, targets on pollution control, newly introduced pavement designs are under study. This is the case of Cyprus demonstration, which occurred within EcoLanes project work. This alternative pavement differs on concrete layer reinforced with tire recycling product. Processing of post-consumer tires produces steel fibers improving strength capacity against cracking. Thus maintenance works are relevantly limited in comparison to flexible pavement. This enables to be more ecofriendly, referenced to current study outputs. More specific, proposed concrete pavement life cycle processes emits 15 % less air pollutants and consumes 28 % less embodied energy than those of the asphalt pavement. In addition there is also a reduction on costs by 0.06 %.

Keywords: Environmental impact assessment, life cycle, tirerecycling, transportation pavement.

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Authors: K. Matušínská, H. Starzyczná, M. Stoklasa

Abstract:

The paper deals with behaviour of the segment 50+ in the financial market in the Czech Republic. This segment could be said as the strong market power and it can be a crucial business potential for financial business units. The main defined objective of this paper is analysis of the customers´ behaviour of the segment 50- 60 years in the financial market in the Czech Republic and proposal making of the suitable marketing approach to satisfy their demands in the area of product, price, distribution and marketing communication policy. This paper is based on data from one part of primary marketing research. Paper determinates the basic problem areas as well as definition of financial services marketing, defining the primary research problem, hypothesis and primary research methodology. Finally suitable marketing approach to selected sub segment at age of 50-60 years is proposed according to marketing research findings.

Keywords: Population aging in the Czech Republic, Segment 50-60 years, Financial services marketing, Marketing research, Marketing approach.

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Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity plays an indispensable role in human life and the economy. It is a unique product or service that must be balanced instantaneously, as electricity is not stored, generation and consumption should be proportional. Effective and efficient use of electricity is very important not only for society, but also for the environment. A competitive electricity market is one of the best ways to provide a suitable platform for effective and efficient use of electricity. On the other hand, it carries some risks that should be carefully managed by the market players. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Markowitz’s Mean-variance, Down-side and Semi-variance methods for a case study. Performance of optimal electricity sale solutions are measured and evaluated via Sharpe-Ratio, and the optimal portfolio solutions are improved. Two years of historical weekdays’ price data of the Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management in electricity market, Sharpe ratio.

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Authors: Francielo Vendruscolo

Abstract:

This review summarizes the potential of starch agroindustrial residues as substrate for biohydrogen production. Types of potential starch agroindustrial residues, recent developments and bio-processing conditions for biohydrogen production will be discussed. Biohydrogen is a clean energy source with great potential to be an alternative fuel, because it releases energy explosively in heat engines or generates electricity in fuel cells producing water as only by-product. Anaerobic hydrogen fermentation or dark fermentation seems to be more favorable, since hydrogen is yielded at high rates and various organic waste enriched with carbohydrates as substrate result in low cost for hydrogen production. Abundant biomass from various industries could be source for biohydrogen production where combination of waste treatment and energy production would be an advantage. Carbohydrate-rich nitrogendeficient solid wastes such as starch residues can be used for hydrogen production by using suitable bioprocess technologies. Alternatively, converting biomass into gaseous fuels, such as biohydrogen is possibly the most efficient way to use these agroindustrial residues.

Keywords: Biofuel, dark fermentation, starch residues, food waste.

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Authors: Pulak Mishra, P V Kiran Kumar

Abstract:

In the context of introduction of deregulatory policy measures and subsequent wave of mergers and acquisitions (M&A) in Indian corporate sector since 1991, the present paper attempts to examine the welfare implications of this wave. It is found that M&A do not have any significant impact on consumers- welfare. Instead, consumers- welfare is significantly influenced by exports intensity, imports intensity, advertising intensity, technology related efforts, and past profitability of the firms. While the industries with higher exports orientation or greater product differentiation or better financial performance experience greater loss in consumers- welfare, it is less in the industries with greater competition from imports or better technology. Hence, the wave of M&A in Indian manufacturing sector in the post-liberalization era may not be a matter of serious concern from consumers- welfare point of view. Instead, in many cases, M&A can help the firms in consolidating their business and enhancing competitiveness, and this may benefit the consumers in the form of greater efficiency and lower prices.

Keywords: Mergers, acquisitions, concentration, welfare, IndiaJEL CodesÔÇöL1, L2, L4, L5

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Authors: Halleh Nejadriahi, Kamyar Arab

Abstract:

Computer-aided design (CAD) tools have been extensively used by the architects for the several decades. It has evolved from being a simple drafting tool to being an intelligent architectural software and a powerful means of communication for architects. CAD plays an essential role in the profession of architecture and is a basic tool for any architectural firm. It is not possible for an architectural firm to compete without taking the advantage of computer software, due to the high demand and competition in the architectural industry. The aim of this study is to evaluate the impacts of CAD on the architectural design process from conceptual level to final product, particularly in architectural practice. It examines the range of benefits of integrating CAD into the industry and discusses the possible defects limiting the architects. Method of this study is qualitatively based on data collected from the professionals’ perspective. The identified benefits and limitations of CAD on the architectural design process will raise the awareness of professionals on the potentials of CAD and proper utilization of that in the industry, which would result in a higher productivity along with a better quality in the architectural offices.

Keywords: Architecture, architectural practice, computer aided design, CAD, design process.

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Authors: Bundit Pungnirund

Abstract:

This research aimed to investigate the relationship between attitude towards marketing mix, brand image and consumer behavior of the passengers of low-cost airlines service. This study employed by quantitative research and the questionnaire was used to collect the data from 400 sampled of the passengers who have ever used the low-cost airline services based in Bangkok, Thailand. The descriptive statistics and Pearson’s correlation analysis were used to analyze data. The research results revealed that the attitude of the marketing mix of the low-cost airline services including product, price, place, promotion and process had related to the consumer behavior on the aspects of duration of service and frequency of service. While, the brand image of the low cost airline including the characteristics of organization, service quality and company identity had related to the consumer behavior on duration of service, frequency of service and cost of service at the significant statistically acceptable levels.

Keywords: Brand image, consumer behavior, low-cost airlines, marketing mix.

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Authors: M. Z. Alsawalha

Abstract:

The main objective of this study is to investigate basic properties of different natural clays, by two methods. The first method is a gas phase conversion of methylbutynol (MBOH). The second method is the application of Pyrrole-tpd. Based on the product distribution from the first method, the acidic, basic and coordinately unsaturated sites were differentiated. It was shown that both the conversion and the selectivity for basic products did not change with reaction time. Nevertheless, a deviation from the stoichiometric ratio R of formed acetylene to acetone was observed (R=0.8…0.97). The conversion normalized to the surface area was used for establishing the activity sequence: White kaolinite > red kaolinite > bentonite > zeolite > di­ato­mite. In addition, the results were compared with synthetic amorphous alumosilicates and typical basic materials like MgO and ZnO. The basic properties were characterized using the Pyrrole-tpd.  The Pyrrole-tpd results showed the same basicity sequence as the MBOH gas phase reaction.

Keywords: Alumosilicates, basic surface properties, natural clays, normalized conversions with acetylene and acetone, pyrrole-TPD adsorption.

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Authors: Evita Straumite, Zanda Kruma, Ruta Galoburda, Kaiva Saulite

Abstract:

Dill (Anethum graveolens L.) is a popular herb used in many regions, including Baltic countries. Dill is widely used for flavoring foods and beverages due to its pleasant spicy aroma. The aim of this work was to determine the best blanching method for processing of dill prior to microwave vacuum drying based on sensory properties, color and volatile compounds in dried product. Two blanching mediums were used – water and steam, and for part of samples microwave pretreatment was additionally used. Evaluation of dried dill volatile aroma compounds, color changes and sensory attributes was performed. Results showed that blanching significantly influences the quality of dried dill. After evaluation of volatile aroma compounds, color and sensory properties of microwave vacuum dried dill, as the best method for dill pretreatment was established blanching at 90 °C for 30 s.

Keywords: dried dill, sensory panel, sensory properties, aroma compounds, color

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Authors: Valentina Ndou, Laura Schina, Giuseppina Passiante, Pasquale Del Vecchio, Marco De Maggio

Abstract:

The aim of this paper is to propose a dynamic integrated approach, based on modularity concept and on the business ecosystem approach, that exploit different eBusiness services for SMEs under an open business network platform. The adoption of this approach enables firms to collaborate locally for delivering the best product/service to the customers as well as globally by accessing international markets, interrelate directly with the customers, create relationships and collaborate with worldwide actors. The paper will be structured as following: We will start by offering an overview of the state of the art of eBusiness platforms among SME of food and tourism firms and then we discuss the main drawbacks that characterize them. The digital business ecosystem approach and the modularity concept will be described as the theoretical ground in which our proposed integrated model is rooted. Finally, the proposed model along with a discussion of the main value creation potentialities it might create for SMEs will be presented.

Keywords: component, Complexity; Digital Business Ecosystem, e Business Platforms, Modularity, Networks.

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Authors: Dai Miyamoto

Abstract:

This paper examines the factors, which determine R&D outsourcing behaviour at Japanese firms, from the viewpoints of transaction cost and strategic management, since the latter half of the 1990s. This study uses empirical analysis, which involves the application of large-sample data. The principal findings of this paper are listed below. Firms that belong to a wider corporate group are more active in executing R&D outsourcing activities. Diversification strategies such as the expansion of product and sales markets have a positive effect on the R&D outsourcing behaviour of firms. Moreover, while quantitative R&D resources have positive influences on R&D outsourcing, qualitative indices have no effect. These facts suggest that R&D outsourcing behaviour of Japanese firms are consistent with the two perspectives of transaction cost and strategic management. Specifically, a conventional corporate group network plays an important role in R&D outsourcing behaviour. Firms that execute R&D outsourcing leverage 'old' networks to construct 'new' networks and use both networks properly.

Keywords: Corporate Group Networks, R&D Outsourcing, Strategic Management Perspective, Transaction Cost Perspective.

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Authors: Shabrina Pritta Radyanti, Harimukti Wandebori

Abstract:

A research study was conducted with an objective to propose a collaborative business strategy of a oil and gas trading company, representing PPT Energy Trading Co., Ltd., with its shareholder, especially electricity and power supply companies for LNG Form of Coal Bed Methane in B2B Transaction. Collaborative business strategy is a strategy to collaborate with other organizations due to have future benefits in both parties, or achieve the business objective through the collaboration of business, its strategy and partners. A structured interview was established to collect the required primary data from the company. Not only interview, but also company’s business plan and annual report were collected and analyzed for the company’s current condition. As the result, this research shows a recommendation to propose a new collaborative strategy with limiting its target market, diversifying product, conducting new business model, and considering other stakeholders.

Keywords: collaborative business strategy, trading company, LNG, coal bed methane

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Authors: Yung C. Ho, Hui C. Fang, Ming J. Hsieh

Abstract:

When consistently innovative business-models can give companies a competitive advantage, longitudinal empirical research, which can reflect dynamic business-model changes, has yet to prove a definitive connection. This study consequently employs a dynamic perspective in conjunction with innovation theory to examine the relationship between the types of business-model innovation and firm value. This study tries to examine various types of business-model innovation in high-end and low-end technology industries such as HTC and the 7-Eleven chain stores with research periods of 14 years and 32 years, respectively. The empirical results suggest that adopting radical business-model innovation in addition to expanding new target markets can successfully lead to a competitive advantage. Sustained advanced technological competences and service/product innovation are the key successful factors in high-end and low-end technology industry business-models respectively. In sum up, the business-model innovation can yield a higher market value and financial value in high-end technology industries than low-end ones.

Keywords: Business-model, Dynamic Perspective, Firm Value, Innovation

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Authors: Md Abdullah Al Faruque, Ram Balachandar

Abstract:

The present study was carried out to understand the extent of effect of roughness and Reynolds number in open channel flow (OCF). To this extent, four different types of bed surface conditions consisting smooth, distributed roughness, continuous roughness, natural sand bed and two different Reynolds number for each bed surfaces were adopted in this study. Particular attention was given on mean velocity, turbulence intensity, Reynolds shear stress, correlation, higher order moments and quadrant analysis. Further, the extent of influence of roughness and Reynolds number in the depth-wise direction also studied. Increasing Reynolds shear stress near rough beds are noticed due to arrays of discrete roughness elements and flow over these elements generating a series of wakes which contributes to the generation of significantly higher Reynolds shear stress.

Keywords: Bed roughness, ejection, sweep, open channel flow, Reynolds Shear Stress, turbulent boundary layer, velocity triple product.

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Authors: Domenico Pirozzi, Angelo Ausiello, Gaetano Zuccaro, Filomena Sannino, Abu Yousuf

Abstract:

The oleaginous yeasts Lipomyces starkey were grown in the presence of dairy industry wastewaters (DIW). The yeasts were able to degrade the organic components of DIW and to produce a significant fraction of their biomass as triglycerides. When using DIW from the Ricotta cheese production or residual whey as growth medium, the L. starkey could be cultured without dilution nor external organic supplement. On the contrary, the yeasts could only partially degrade the DIW from the Mozzarella cheese production, due to the accumulation of a metabolic product beyond the threshold of toxicity. In this case, a dilution of the DIW was required to obtain a more efficient degradation of the carbon compounds and an higher yield in oleaginous biomass. The fatty acid distribution of the microbial oils obtained showed a prevalence of oleic acid, and is compatible with the production of a II generation biodiesel offering a good resistance to oxidation as well as an excellent cold-performance.

Keywords: Yeasts, Lipids, Biodiesel, Dairy industry wastewaters.

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Authors: D. Singh, R. Yousefi, M. Boroushaki

Abstract:

Intelligent deep-drawing is an instrumental research field in sheet metal forming. A set of 28 different experimental data have been employed in this paper, investigating the roles of die radius, punch radius, friction coefficients and drawing ratios for axisymmetric workpieces deep drawing. This paper focuses an evolutionary neural network, specifically, error back propagation in collaboration with genetic algorithm. The neural network encompasses a number of different functional nodes defined through the established principles. The input parameters, i.e., punch radii, die radii, friction coefficients and drawing ratios are set to the network; thereafter, the material outputs at two critical points are accurately calculated. The output of the network is used to establish the best parameters leading to the most uniform thickness in the product via the genetic algorithm. This research achieved satisfactory results based on demonstration of neural networks.

Keywords: Deep-drawing, Neural network, Genetic algorithm, Sheet metal forming.

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Authors: Hugo Rodríguez

Abstract:

The patenting of inventions is the result of an organized effort to achieve technological improvement and its consequent positive impact on the population's standard of living. Technology exports, either of high-tech goods or of Information and Communication Technology (ICT) services, represent the level of acceptance that world markets have of that technology acquired or developed by a country, either in public or private settings. A quantitative measure of the above variables is expected to have a positive and relevant impact on the level of economic development of the countries, measured on this first occasion through their level of Gross Domestic Product (GDP). And in that sense, it not only explains the performance of an economy but the difference between nations. We present an econometric model where we seek to explain the difference between the GDP levels of 178 countries through their different performance in the outputs of the technological production process. We take the variables of Patenting, ICT Exports and High Technology Exports as results of the innovation process. This model achieves an explanatory power for four annual cuts (2000, 2005, 2010 and 2015) equivalent to an adjusted r2 of 0.91, 0.87, 0.91 and 0.96, respectively.

Keywords: Development, exports, patents, technology.

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Authors: J. Furuya, S. Kobayashi, S. D. Meyer

Abstract:

This research examines possible effects of climatic change focusing on global warming and its impacts on world agricultural product markets, by using a world food model developed to consider climate changes. GDP and population for each scenario were constructed by IPCC and climate data for each scenario was reported by the Hadley Center and are used in this research to consider results in different contexts. Production and consumption of primary agriculture crops of the world for each socio-economic scenario are obtained and investigated by using the modified world food model. Simulation results show that crop production in some countries or regions will have different trends depending on the context. These alternative contexts depend on the rate of GDP growth, population, temperature, and rainfall. Results suggest that the development of environment friendly technologies lead to more consumption of food in many developing countries. Relationships among environmental policy, clean energy development, and poverty elimination warrant further investigation.

Keywords: Global warming, SRES scenarios, World food model.

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Authors: F. Gökgöz, M. E. Atmaca

Abstract:

Electricity has an indispensable role in human daily life, technological development and economy. It is a special product or service that should be instantaneously generated and consumed. Sources of the world are limited so that effective and efficient use of them is very important not only for human life and environment but also for technological and economic development. Competitive electricity market is one of the important way that provides suitable platform for effective and efficient use of electricity. Besides benefits, it brings along some risks that should be carefully managed by a market player like Electricity Generation Company. Risk management is an essential part in market players’ decision making. In this paper, risk management through diversification is applied with the help of Value at Risk methods for case studies. Performance of optimal electricity sale solutions are measured and the portfolio performance has been evaluated via Sharpe-Ratio, and compared with conventional approach. Biennial historical electricity price data of Turkish Day Ahead Market are used to demonstrate the approach.

Keywords: Electricity market, portfolio optimization, risk management, Sharpe ratio, value at risk.

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