Search results for: organizational features

Authors: Rakkrit Duangsoithong, Jermphiphut Jaruenpunyasak, Alba Garcia

Abstract:

The use of foot recognition can be applied in many medical fields such as the gait pattern analysis and the knee exercises of patients in rehabilitation. Generally, a camera-based foot recognition system is intended to capture a patient image in a controlled room and background to recognize the foot in the limited views. However, this system can be inconvenient to monitor the knee exercises at home. In order to overcome these problems, this paper proposes to use the deep learning method using Convolutional Neural Networks (CNNs) for foot recognition. The results are compared with the traditional classification method using LBP and HOG features with kNN and SVM classifiers. According to the results, deep learning method provides better accuracy but with higher complexity to recognize the foot images from online databases than the traditional classification method.

Keywords: Convolutional neural networks, deep learning, foot recognition, knee rehabilitation.

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Authors: Manuel J. Gazapo Lapayese

Abstract:

It is a well-established fact that terrorism is one of the foremost threats to present-day international security. The creation of tools or mechanisms for confronting it in an effective and efficient manner will only be possible by way of an objective assessment of the phenomenon. In order to achieve this, this paper has the following three main objectives: Firstly, setting out to find the reasons that have prevented the establishment of a universally accepted definition of terrorism, and consequently trying to outline the main features defining the face of the terrorist threat in order to discover the fundamental goals of what is now a serious blight on world society. Secondly, trying to explain the differences between a terrorist movement and a terrorist organisation, and the reasons for which a terrorist movement can be led to transform itself into an organisation. After analysing these motivations and the characteristics of a terrorist organisation, an example of the latter will be succinctly analysed to help the reader understand the ideas expressed. Lastly, discovering and exposing the factors that can lead to the appearance of terrorist tendencies, and discussing the most efficient and effective responses that can be given to this global security threat.

Keywords: Responses, resilience, security, terrorism.

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Authors: Paraskevi Theodorou, Apostolos Meliones

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In the context of the development process of two assistive navigation mobile apps for blind and visually impaired people (BVI) an extensive qualitative analysis of the requirements of potential users has been conducted. The analysis was based on interviews with BVIs and aimed to elicit not only their needs with respect to autonomous navigation but also their preferences on specific features of the apps under development. The elicited requirements were structured into four main categories, namely, requirements concerning the capabilities, functionality and usability of the apps, as well as compatibility requirements with respect to other apps and services. The main categories were then further divided into nine sub-categories. This classification, along with its content, aims to become a useful tool for the researcher or the developer who is involved in the development of digital services for BVI.

Keywords: Accessibility, assistive mobile apps, blind and visually impaired people, user requirements analysis.

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Authors: Kashif Laeeq, Zubair A. Shaikh

Abstract:

The paradigm of education is drastically changing from conventional to e-learning model. Due to ease of learning with various other benefits, several educational institutions are adopting the e-learning models. Some institutions are still willing to transform their educational system on to e-learning, but due to limited resources, they are still compromising on the old traditional system. The cloud computing could be one of the best solutions to overcome this problem by providing hardware, software, and infrastructure resources with cost efficient manner. The adoption of cloud computing in education will bring revolution in this paradigm. This paper introduces various positive features of e-learning and presents a way how cloud computing technology can be provisioned e-learning model. This paper also investigates the numerous challenges and opportunities that would be observed in cloud computing adoption in e-learning domain. The concept and knowledge present in this paper may create a new direction of research in the domain of cloud-based e-learning.

Keywords: Cloud-based e-learning, e-learning, cloud computing application, smart learning.

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Authors: Essam Al Daoud

Abstract:

Intrusion detection is a mechanism used to protect a system and analyse and predict the behaviours of system users. An ideal intrusion detection system is hard to achieve due to nonlinearity, and irrelevant or redundant features. This study introduces a new anomaly-based intrusion detection model. The suggested model is based on particle swarm optimisation and nonlinear, multi-class and multi-kernel support vector machines. Particle swarm optimisation is used for feature selection by applying a new formula to update the position and the velocity of a particle; the support vector machine is used as a classifier. The proposed model is tested and compared with the other methods using the KDD CUP 1999 dataset. The results indicate that this new method achieves better accuracy rates than previous methods.

Keywords: Feature selection, Intrusion detection, Support vector machine, Particle swarm.

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Authors: K. Kalaiselvan, A. Elango, N. M. Nagarajan

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Today automobile and aerospace industries realise Laser Beam Welding for a clean and non contact source of heating and fusion for joining of sheets. The welding performance is mainly based on by the laser welding parameters. Some concepts related to Artificial Neural Networks and how can be applied to model weld bead geometry and mechanical properties in terms of equipment parameters are reported in order to evaluate the accuracy and compare it with traditional modeling schemes. This review reveals the output features of Titanium and Aluminium weld bead geometry and mechanical properties such as ultimate tensile strength, yield strength, elongation and reduction of the area of the weld using Artificial Neural Network.

Keywords: Laser Beam Welding (LBW), Artificial Neural Networks (ANN), Optimization, Titanium and Aluminium sheets.

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Authors: Yoojin Chung

Abstract:

This paper starts with a critical view of beautiful female images in the mass media being frequently generated by a stereotypical Korean concept of beauty. Several female beauty myths have evolved in Korea during the present decade. Nearly all of them have formed due to a deeply-ingrained androcentric ideology which objectifies women. Mass media causes the public to hold a distorted concept about female beauty. There is a huge gap between women in reality and representative women in the mass media. It is essential to have an unbiased perception of female images presented in the mass media. Due to cosmetic advertisements projecting contemporary images of female beauty to promote products, cosmetics images will be examined in regard to female beauty myths portrayed by the mass media. This paper will analyze features of female beauty myths in Korea and their intrinsic characteristics.

Keywords: Cosmetics Advertisements, Female Beauty Myth, Korean ideologies, Roland Barthes' Mythology Theory

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Authors: E. Farsad, S. P. Abbasi, A. Goodarzi, M. S. Zabihi

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Nowadays, quasi-continuous wave diode lasers are used in a widespread variety of applications. Temperature effects in these lasers can strongly influence their performance. In this paper, the effects of temperature have been experimentally investigated on different features of a 60W-QCW diode laser. The obtained results indicate that the conversion efficiency and operation voltage of diode laser decrease with the augmentation of the working temperature associated with a redshift in the laser peak wavelength. Experimental results show the emission peak wavelength of laser shifts 0.26 nm and the conversion efficiency decreases 1.76 % with the increase of temperature from 40 to 50 ̊C. Present study also shows the slope efficiency decreases gradually at low temperatures and rapidly at higher temperatures. Regarding the close dependence of the mentioned parameters to the operating temperature, it is of great importance to carefully control the working temperature of diode laser, particularly for medical applications.

Keywords: diode laser, experimentally, temperature, wavelength

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Authors: Guilherme Ribeiro, Alexandre Oliveira, Antonio Ferreira, Shyam Visweswaran, Gregory Cooper

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Patient-specific models are instance-based learning algorithms that take advantage of the particular features of the patient case at hand to predict an outcome. We introduce two patient-specific algorithms based on decision tree paradigm that use AUC as a metric to select an attribute. We apply the patient specific algorithms to predict outcomes in several datasets, including medical datasets. Compared to the patient-specific decision path (PSDP) entropy-based and CART methods, the AUC-based patient-specific decision path models performed equivalently on area under the ROC curve (AUC). Our results provide support for patient-specific methods being a promising approach for making clinical predictions.

Keywords: Approach instance-based, area Under the ROC Curve, Patient-specific Decision Path, clinical predictions.

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Authors: Alexander Babin, Leonid Savin

Abstract:

In the present paper, increasing of energy efficiency of a thrust hybrid bearing with a central feeding chamber is considered. The mathematical model was developed to determine the pressure distribution and the reaction forces, based on the Reynolds equation and static characteristics’ equations. The boundary problem of pressure distribution calculation was solved using the method of finite differences. For various types of lubricants, geometry and operational characteristics, axial gaps can be determined, where the minimal friction coefficient is provided. The next part of the study considers the application of servovalves in order to maintain the desired position of the rotor. The report features the calculation results and the analysis of the influence of the operational and geometric parameters on the energy efficiency of mechatronic fluid-film bearings.

Keywords: Active bearings, energy efficiency, mathematical model, mechatronics, thrust multipad bearing.

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Authors: Haider Javed Uppal, Javed Yunas Uppal

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In today's globalized world, it is necessary to develop a form of music that is able to evoke equal emotional responses among people from diverse cultural backgrounds. Indigenous cultures throughout history have developed their own music cognition, specifically in terms of the connections between music and mood. With the advancements in artificial intelligence technologies, it has become possible to analyze and categorize music features such as timbre, harmony, melody, and rhythm, and relate them to the resulting mood effects experienced by listeners. This paper presents a model that utilizes a screenshot translator to convert music from different origins into waveforms, which are then analyzed using machine learning and information retrieval techniques. By connecting these waveforms with Thayer's matrix of moods, a mood classifier has been developed using fuzzy logic algorithms to determine the emotional impact of different types of music on listeners from various cultures.

Keywords: Cognition, world music, artificial intelligence, Thayer’s matrix.

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Authors: D. G. Jung, J. B. Lim, J. H. Kim, J. J. Kim

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The international society focuses on the environment protection and natural energy sources control for the global cooperation against weather change and sustainable growth. The study presents the overview of the water shortage status and the necessity of wastewater reuse facility in military facilities and for the possibility of the introduction, compares the economics by means of cost-benefit analysis. The military features such as the number of users of military barracks and the water use were surveyed by the design principles by facility types, the application method of wastewater reuse facility was selected, the feed water, its application and the volume of reuse volume were defined and the expectation was estimated, confirming the possibility of introducing a wastewater reuse possibility by means of cost-benefit analysis.

Keywords: military barracks, wastewater reuse facility, cost-benefit analysis

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Authors: S. Homrossukon, W. Parinyasart

Abstract:

This is an applied research to propose the method for price quotation for a contract electronics manufacturer. It has had a precise price quoting method but such method could not quickly provide a result as the customer required. This reduces the ability of company to compete in this kind of business. In this case, the cause of long time quotation process was analyzed. A lot of product features have been demanded by customer. By checking routine processes, it was found that high fraction of quoting time was used for production time estimating which has effected to the manufacturing or production cost. Then the historical data of products including types, number of components, assembling method, and their assembling time were used to analyze the key components affecting to production time. The price quoting model then was proposed. The implementation of proposed model was able to remarkably reduce quoting time with an acceptable required precision.

Keywords: Price quoting, Contract manufacturer, Stepwise technique, Best subset technique.

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Authors: R. Amandi, A. Shahbazi, A. Mohebi, M. Bazargan, Y. Jaberi, P. Emadi, A. Valizade

Abstract:

The application of Neural Network for disease diagnosis has made great progress and is widely used by physicians. An Electrocardiogram carries vital information about heart activity and physicians use this signal for cardiac disease diagnosis which was the great motivation towards our study. In our work, tachycardia features obtained are used for the training and testing of a Neural Network. In this study we are using Fuzzy Probabilistic Neural Networks as an automatic technique for ECG signal analysis. As every real signal recorded by the equipment can have different artifacts, we needed to do some preprocessing steps before feeding it to our system. Wavelet transform is used for extracting the morphological parameters of the ECG signal. The outcome of the approach for the variety of arrhythmias shows the represented approach is superior than prior presented algorithms with an average accuracy of about %95 for more than 7 tachy arrhythmias.

Keywords: Fuzzy Logic, Probabilistic Neural Network, Tachycardia, Wavelet Transform.

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Authors: Mohammed T. Taher, Usman Ghani, Ahmed S. Khan

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This paper compares the findings of two studies conducted to determine the effectiveness of simulation-based, hands-on and feedback mechanism on students learning by answering the following questions: 1). Does the use of simulation improve students’ learning outcomes? 2). How do students perceive the instructional design features embedded in the simulation program such as exploration and scaffolding support in learning new concepts? 3.) What is the effect of feedback mechanisms on students’ learning in the use of simulation-based labs? The paper also discusses the other aspects of findings which reveal that simulation by itself is not very effective in promoting student learning. Simulation becomes effective when it is followed by hands-on activity and feedback mechanisms. Furthermore, the paper presents recommendations for improving student learning through the use of simulation-based, hands-on, and feedback-based teaching methodologies.

Keywords: Simulation-based teaching, hands-on learning, feedback-based learning, scaffolding.

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Authors: Fan Gao, Lior Pachter

Abstract:

The primary tool currently used to pre-process 10X chromium single-cell ATAC-seq data is Cell Ranger, which can take very long to run on standard datasets. To facilitate rapid pre-processing that enables reproducible workflows, we present a suite of tools called scATAK for pre-processing single-cell ATAC-seq data that is 15 to 18 times faster than Cell Ranger on mouse and human samples. Our tool can also calculate chromatin interaction potential matrices and generate open chromatin signal and interaction traces for cell groups. We use scATAK tool to explore the chromatin regulatory landscape of a healthy adult human brain and unveil cell-type specific features, and show that it provides a convenient and computational efficient approach for pre-processing single-cell ATAC-seq data.

Keywords: single-cell, ATAC-seq, bioinformatics, open chromatin landscape, chromatin interactome

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Authors: Sid-Ahmed. Selouani, Tang-Ho Lê, Chadia Moghrabi, Benoit Lanteigne, Jean Roy

Abstract:

A Web-based learning tool, the Learn IN Context (LINC) system, designed and being used in some institution-s courses in mixed-mode learning, is presented in this paper. This mode combines face-to-face and distance approaches to education. LINC can achieve both collaborative and competitive learning. In order to provide both learners and tutors with a more natural way to interact with e-learning applications, a conversational interface has been included in LINC. Hence, the components and essential features of LINC+, the voice enhanced version of LINC, are described. We report evaluation experiments of LINC/LINC+ in a real use context of a computer programming course taught at the Université de Moncton (Canada). The findings show that when the learning material is delivered in the form of a collaborative and voice-enabled presentation, the majority of learners seem to be satisfied with this new media, and confirm that it does not negatively affect their cognitive load.

Keywords: E-leaning, Knowledge Network, Speech recognition, Speech synthesis.

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Authors: M. N. Akhtar, J. N. Akhtar

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The present study evaluates the properties of class F fly ash as a replacement of natural materials in civil engineering construction industry. The low-lime flash similar to class F is the prime variety generated in India, although it has significantly smaller volumes of high-lime fly ash as compared to class C. The chemical and physical characterization of the sample is carried out with the number of experimental approaches in order to investigate all relevant features present in the samples. For chemical analysis, elementary quantitative results from point analysis and scanning electron microscopy (SEM)/dispersive spectroscopy (EDS) techniques were used to identify the element images of different fractions. The physical properties found very close to the range of common soils. Furthermore, the fly ash-based bricks were prepared by the same sample of class F fly ash and the results of compressive strength similar to that of Standard Clay Brick Grade 1 available in the local market of India.

Keywords: Flyash, class F, class C, chemical, physical, SEM, EDS.

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Authors: Kuralay Kenzhekanova, Akmaral Dalelbekkyzy

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The article is devoted to the problem of political discourse and its reflection on mass cognition. This article is dedicated to describe the myth as one of the main features of political discourse. The dominance of an expressional and emotional component in the myth is shown. Precedent phenomenon plays an important role in distinguishing the myth from the linguistic point of view. Precedent phenomena show the linguistic cognition, which is characterized by their fame and recognition. Four types of myths such as master myths, a foundation myth, sustaining myth, eschatological myths are observed. The myths about the national idea are characterized by national specificity. The main aim of the political discourse with the help of myths is to influence on the mass consciousness in order to motivate the addressee to certain actions so that the target purpose is reached owing to unity of forces.

Keywords: Cognition, myth, linguistic consciousness, types of myths, political discourse, political myth, precedent phenomena.

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Authors: K. Vidya, V.Rhymend Uthariaraj

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Traffic Engineering (TE) is the process of controlling how traffic flows through a network in order to facilitate efficient and reliable network operations while simultaneously optimizing network resource utilization and traffic performance. TE improves the management of data traffic within a network and provides the better utilization of network resources. Many research works considers intra and inter Traffic Engineering separately. But in reality one influences the other. Hence the effective network performances of both inter and intra Autonomous Systems (AS) are not optimized properly. To achieve a better Joint Optimization of both Intra and Inter AS TE, we propose a joint Optimization technique by considering intra-AS features during inter – AS TE and vice versa. This work considers the important criterion say latency within an AS and between ASes. and proposes a Bi-Criteria Latency optimization model. Hence an overall network performance can be improved by considering this jointoptimization technique in terms of Latency.

Keywords: Inter-Domain Routing , Measurement, OptimizationPerformance, Traffic Engineering.

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Authors: Benedetto Manganelli, Beniamino Murgante

Abstract:

The distinction among urban, periurban and rural areas represents a classical example of uncertainty in land classification. Satellite images, geostatistical analysis and all kinds of spatial data are very useful in urban sprawl studies, but it is important to define precise rules in combining great amounts of data to build complex knowledge about territory. Rough Set theory may be a useful method to employ in this field. It represents a different mathematical approach to uncertainty by capturing the indiscernibility. Two different phenomena can be indiscernible in some contexts and classified in the same way when combining available information about them. This approach has been applied in a case of study, comparing the results achieved with both Map Algebra technique and Spatial Rough Set. The study case area, Potenza Province, is particularly suitable for the application of this theory, because it includes 100 municipalities with different number of inhabitants and morphologic features.

Keywords: Land Classification, Map Algebra, Periurban Fringe, Rough Set, Urban Planning, Urban Sprawl.

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Authors: S. Minhas, C. Juzek, U. Berger

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The planning in manufacturing system is becoming complicated day by day due to the expanding networks and shortage of skilled people to manage change. Consequently, faster lead time and rising demands for eco-efficient evaluation of manufacturing products and processes need exploitation of new and intelligent knowledge management concepts for manufacturing planning. This paper highlights motivation for incorporation of new features in the manufacturing planning system. Furthermore, it elaborates requirements for the development of intelligent knowledge management concept to support planning related decisions. Afterwards, the derived concept is presented in this paper considering two case studies. The first case study is concerned with the automotive ramp-up planning. The second case study specifies requirements for knowledge management system to support decisions in eco-efficient evaluation of manufacturing products and processes

Keywords: Ramp-up, Environmental impact, Knowledge management.

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Authors: R. K. Agrawal, Rajni Bala

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Developing an accurate classifier for high dimensional microarray datasets is a challenging task due to availability of small sample size. Therefore, it is important to determine a set of relevant genes that classify the data well. Traditionally, gene selection method often selects the top ranked genes according to their discriminatory power. Often these genes are correlated with each other resulting in redundancy. In this paper, we have proposed a hybrid method using feature ranking and wrapper method (Genetic Algorithm with multiclass SVM) to identify a set of relevant genes that classify the data more accurately. A new fitness function for genetic algorithm is defined that focuses on selecting the smallest set of genes that provides maximum accuracy. Experiments have been carried on four well-known datasets1. The proposed method provides better results in comparison to the results found in the literature in terms of both classification accuracy and number of genes selected.

Keywords: Gene selection, genetic algorithm, microarray datasets, multi-class SVM.

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Authors: Chuanjian Wang, Changfu Liu, Zhengde Dai

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In this paper, the direct AnsAz method is used for constructing the multi-wave solutions to the (2+1)-dimensional extension of the Korteweg de-Vries (shortly EKdV) equation. A new breather type of three-wave solutions including periodic breather type soliton solution, breather type of two-solitary solution are obtained. Some cases with specific values of the involved parameters are plotted for each of the three-wave solutions. Mechanical features of resonance interaction among the multi-wave are discussed. These results enrich the variety of the dynamics of higher-dimensional nonlinear wave field.

Keywords: EKdV equation, Breather, Soliton, Bilinear form, The direct AnsAz method.

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Authors: Koray U. Erbas

Abstract:

Neural networks are appealing for many applications since they are able to learn complex non-linear relationships between input and output data. As the number of neurons and layers in a neural network increase, it is possible to represent more complex relationships with automatically extracted features. Nowadays Deep Neural Networks (DNNs) are widely used in Computer Vision problems such as; classification, object detection, segmentation image editing etc. In this work, Facial Emotion Recognition task is performed by proposed Convolutional Neural Network (CNN)-based DNN architecture using FER2013 Dataset. Moreover, the effects of different hyperparameters (activation function, kernel size, initializer, batch size and network size) are investigated and ablation study results for Pooling Layer, Dropout and Batch Normalization are presented.

Keywords: Convolutional Neural Network, Deep Learning, Deep Learning Based FER, Facial Emotion Recognition.

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Authors: Yingying Ding

Abstract:

This study presents a methodology of specialized translation with the objective of helping teachers to improve the strategies in teaching translation. In order to allow students to acquire skills to translate specialized texts, they need to become familiar with the semantic and syntactic features of source texts and target texts. The aim of our study is to use a corpus-based approach in the teaching of specialized translation between Chinese and Italian. This study proposes to construct a specialized Chinese - Italian comparable corpus that consists of 50 economic contracts from the domain of food. With the help of AntConc, we propose to compile a comparable corpus in for translation teaching purposes. This paper attempts to provide insight into how teachers could benefit from comparable corpus in the teaching of specialized translation from Italian into Chinese and through some examples of passive sentences how students could learn to apply different strategies for translating appropriately the voice.

Keywords: Corpus-based approach, translation teaching, specialized translation.

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Authors: Sa’ed Abed, Mohammad H. Al Shayeji, Ovais Ahmed, Sahel Alouneh

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Session Initiation Protocol (SIP) is a signaling layer protocol for building, adjusting and ending sessions among participants including Internet conferences, telephone calls and multimedia distribution. SIP facilitates user movement by proxying and forwarding requests to the present location of the user. In this paper, we provide a formal Specification and Description Language (SDL) and Message Sequence Chart (MSC) to model and define the Internet Engineering Task Force (IETF) SIP protocol and its sample services resulted from informal SIP specification. We create an “Abstract User Interface” using case analysis so that can be applied to identify SIP services more explicitly. The issued sample SIP features are then used as case scenarios; they are revised in MSCs format and validated to their corresponding SDL models.

Keywords: Modeling, MSC, SDL, SIP, validating.

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Authors: Masahiro Taketa, Masaki Ito, Takao Kawamura, Kazunori Sugahara

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We develop a new interface for Bus-Net which is optimized for a smartphone. We are continuing to develop the shortest path planning system of public transportation called "Bus-Net" in Tottori prefecture as web application to improve the usability of public transportation. Recent trend of computing platform, however has shifted to an advanced mobile device called a smartphone such as iPhone and Android in Japan. A smartphone has different characters with existing feature phone in terms of OS, large touche panel, and several other features. We derive a guideline to design the new interface for a smartphone to full use of the functionality. The guideline is about simplicity of user-s operation, location awareness and usability. We developed the new interface for “Bus-Net" on iPhone referring to the guideline. Due to the evaluation, the application interface we developed is better than the existing web-based interface in terms of the usability.

Keywords: Path Planning, Public Transportation, Smartphone, User Interface

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Authors: Elena A. Railean

Abstract:

Although scientific methods have been the subject of a large number of papers, the term ‘scientific methods in educational management’ is still not well defined. In this paper, it is adopted the metasystems perspective to define the mentioned term and distinguish them from methods used in time of the scientific management and knowledge management paradigms. In our opinion, scientific methods in educational management rely on global phenomena, events, and processes and their influence on the educational organization. Currently, scientific methods in educational management are integrated with the phenomenon of globalization, cognitivisation, and openness, etc. of educational systems and with global events like the COVID-19 pandemic. Concrete scientific methods are nested in a hierarchy of more and more abstract models of educational management, which form the context of the global impact on education, in general, and learning outcomes, in particular. However, scientific methods can be assigned to a specific mission, strategy, or tactics of educational management of the concrete organization, either by the global management, local development of school organization, or/and development of the life-long successful learner. By accepting this assignment, the scientific method becomes a personal goal of each individual with the educational organization or the option to develop the educational organization at the global standards. In our opinion, in educational management, the scientific methods need to confine the scope to the deep analysis of concrete tasks of the educational system (i.e., teaching, learning, assessment, development), which result in concrete strategies of organizational development. More important are seeking the ways for dynamic equilibrium between the strategy and tactic of the planetary tasks in the field of global education, which result in a need for ecological methods of learning and communication. In sum, distinction between local and global scientific methods is dependent on the subjective conception of the task assignment, measurement, and appraisal. Finally, we conclude that scientific methods are not holistic scientific methods, but the strategy and tactics implemented in the global context by an effective educational/academic manager.

Keywords: Educational management, scientific management, educational leadership, scientific method in educational management.

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Authors: Pinho C., Madaleno M.

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German electricity European options on futures using Lévy processes for the underlying asset are examined. Implied volatility evolution, under each of the considered models, is discussed after calibrating for the Merton jump diffusion (MJD), variance gamma (VG), normal inverse Gaussian (NIG), Carr, Geman, Madan and Yor (CGMY) and the Black and Scholes (B&S) model. Implied volatility is examined for the entire sample period, revealing some curious features about market evolution, where data fitting performances of the five models are compared. It is shown that variance gamma processes provide relatively better results and that implied volatility shows significant differences through time, having increasingly evolved. Volatility changes for changed uncertainty, or else, increasing futures prices and there is evidence for the need to account for seasonality when modelling both electricity spot/futures prices and volatility.

Keywords: Calibration, Electricity Markets, Implied Volatility, Lévy Models, Options on Futures, Pricing

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