Search results for: Semi-Markov Decision Process

Authors: Binyamin Yusoff, Imran Taib, Lazim Abdullah, Abd Fatah Wahab

Abstract:

Intuitionistic fuzzy sets as proposed by Atanassov, have gained much attention from past and latter researchers for applications in various fields. Similarity measures between intuitionistic fuzzy sets were developed afterwards. However, it does not cater the conflicting behavior of each element evaluated. We therefore made some modification to the similarity measure of IFS by considering conflicting concept to the model. In this paper, we concentrate on Zhang and Fu-s similarity measures for IFSs and some examples are given to validate these similarity measures. A simple modification to Zhang and Fu-s similarity measures of IFSs was proposed to find the best result according to the use of degree of indeterminacy. Finally, we mark up with the application to real decision making problems.

Keywords: Intuitionistic fuzzy sets, similarity measures, multicriteriadecision making.

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Authors: H.Mohammadi Majd, M.Jalali Azizpour, A.V. Hoseini

Abstract:

In this paper back-propagation artificial neural network (BPANN) is employed to predict the limiting drawing ratio (LDR) of the deep drawing process. To prepare a training set for BPANN, some finite element simulations were carried out. die and punch radius, die arc radius, friction coefficient, thickness, yield strength of sheet and strain hardening exponent were used as the input data and the LDR as the specified output used in the training of neural network. As a result of the specified parameters, the program will be able to estimate the LDR for any new given condition. Comparing FEM and BPANN results, an acceptable correlation was found.

Keywords: Back-propagation artificial neural network(BPANN), deep drawing, prediction, limiting drawing ratio (LDR).

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Authors: L. Heidari, M. Jalili Ghazizade

Abstract:

In recent years, different petrochemical complexes have been established to produce aromatic compounds. Among them, Nouri Petrochemical Complex (NPC) is the largest producer of aromatic raw materials in the world, and is located in south of Iran. Environmental concerns have been raised in this region due to generation of different types of solid waste generated in the process of aromatics production, and subsequently, industrial waste characterization has been thoroughly considered. The aim of this study is qualitative and quantitative characterization of industrial waste generated in the aromatics production process and determination of the best method for industrial waste management. For this purpose, all generated industrial waste during the production process was determined using a checklist. Four main industrial wastes were identified as follows: spent industrial soil, spent catalyst, spent molecular sieves and spent N-formyl morpholine (NFM) solvent. The amount of heavy metals and organic compounds in these wastes were further measured in order to identify the nature and toxicity of such a dangerous compound. Then industrial wastes were classified based on lab analysis results as well as using different international lists of hazardous waste identification such as EPA, UNEP and Basel Convention. Finally, the best method of waste disposal is selected based on environmental, economic and technical aspects. 

Keywords: Spent industrial soil, spent molecular sieve, spent normal ¬formyl -morpholine solvent.

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Authors: Pornprom Chomngam

Abstract:

The purpose of this study is to examine employee assessments of the usefulness/value of different types of information available to those employees during the process of organizational assimilation. Participants in the study were 247 “new" employees at Bangkok Bank. Bangkok Bank considers employees whose length of stay with the bank has been less than 18 months as new employees. Questionnaires were administered to all of the Bank-s new employees to obtain the data for this study. Repeated measures analysis was used to analyze the data. The data were summed and coded by using Statistical Package for Social Science. Newcomers indicate that social information is the most useful information, followed by job (technical, referent, and appraisal information), political, normative, and organizational information. Essentially, social, job, and political information are evaluated by newcomers as highly useful, while normative and organizational information are rated as moderately useful.

Keywords: Information seeking, organization assimilation.

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Authors: Maria Grazia Albanesi, Riccardo Amadeo

Abstract:

This study presents a new model of the human image quality assessment process: the aim is to highlightthe foundations of the image quality metrics proposed in literature, by identifyingthe cognitive/physiological or mathematical principles of their development and the relation with the actual human quality assessment process. The model allows to createa novel categorization of objective and subjective image quality metrics. Our work includes an overview of the most used or effectiveobjective metrics in literature, and, for each of them, we underline its main characteristics, with reference to the rationale of the proposed model and categorization. From the results of this operation, we underline a problem that affects all the presented metrics: the fact that many aspects of human biasesare not taken in account at all. We then propose a possible methodology to address this issue.

Keywords: Eye-Tracking, image quality assessment metric, MOS, quality of user experience, visual perception.

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Authors: A. Zimnas, D. Kleftouris, N. Valkanos

Abstract:

Today-s Information and Knowledge Society has placed new demands on education and a new paradigm of education is required. Learning, facilitated by educational systems and the pedagogic process, is globally undergoing dramatic changes. The aim of this paper is the development of a simple Instructional Design tool for E-Learning, named IDEL (Instructional Design for Electronic Learning), that provides the educators with facilities to create their own courses with the essential educational material and manage communication with students. It offers flexibility in the way of learning and provides ease in employment and reusability of resources. IDEL is a web-based Instructional System and is designed to facilitate course design process in accordance with the ADDIE model and the instructional design principles with emphasis placed on the use of technology enhanced learning. An example case of using the ADDIE model to systematically develop a course and its implementation with the aid of IDEL is given and some results from student evaluation of the tool and the course are reported.

Keywords: Education, E-learning, Instructional Design.

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Authors: A.G.E. Sutjipto, Jufriadi, R. Muhida, Afzeri, E.Y. Adesta

Abstract:

Charging and discharging phenomenon on the surface of materials can be found in plasma display panel, spacecraft charging, high voltage insulator, etc. This report gives a simple explanation on this phenomenon. A scanning electron microscope was used not only as a tool to produce energetic electron beam to charge an insulator without metallic coating and to produce a surface discharging (surface breakdown/flashover) but also to observe the visible charging and discharging on the sample surface. A model of electric field distribution on the surface was developed in order to explain charging and discharging phenomena. Since charging and discharging process involves incubation time, therefore this process can be used to evaluate the insulation property of materials under electron bombardment.

Keywords: Flashover, SEM, Electron Bombardment, Electric Field.

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Authors: Hassan Haghighi, Omid Mafi

Abstract:

Existing experiences indicate that one of the most prominent reasons that some ERP implementations fail is related to selecting an improper ERP package. Among those important factors resulting in inappropriate ERP selections, one is to ignore preliminary activities that should be done before the evaluation of ERP packages. Another factor yielding these unsuitable selections is that usually organizations employ prolonged and costly selection processes in such extent that sometimes the process would never be finalized or sometimes the evaluation team might perform many key final activities in an incomplete or inaccurate way due to exhaustion, lack of interest or out-of-date data. In this paper, a systematic approach that recommends some activities to be done before and after the main selection phase is introduced for choosing an ERP package. On the other hand, the proposed approach has utilized some ideas that accelerates the selection process at the same time that reduces the probability of an erroneous final selection.

Keywords: enterprise resource planning, evaluation and selectionof ERP packages, organizational readiness for employing ERP, evaluationlists.

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Authors: H.Mohammadi Majd, M.Jalali Azizpour, M. Goodarzi

Abstract:

In this paper back-propagation artificial neural network (BPANN) with Levenberg–Marquardt algorithm is employed to predict the limiting drawing ratio (LDR) of the deep drawing process. To prepare a training set for BPANN, some finite element simulations were carried out. die and punch radius, die arc radius, friction coefficient, thickness, yield strength of sheet and strain hardening exponent were used as the input data and the LDR as the specified output used in the training of neural network. As a result of the specified parameters, the program will be able to estimate the LDR for any new given condition. Comparing FEM and BPANN results, an acceptable correlation was found.

Keywords: BPANN, deep drawing, prediction, limiting drawingratio (LDR), Levenberg–Marquardt algorithm

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Authors: Pin-Hsu Kao, Wen-Shou Tseng, Hung-Ming Tai, Yuan-Ming Chang, Jenh-Yih Juang

Abstract:

We report a lithography-free approach to fabricate the biomimetics, quasi-beehive Si nanostructures (QBSNs), on Si-substrates. The self-assembled SiGe nanoislands via the strain induced surface roughening (Asaro-Tiller-Grinfeld instability) during in-situ annealing play a key role as patterned sacrifice regions for subsequent reactive ion etching (RIE) process performed for fabricating quasi-beehive nanostructures on Si-substrates. As the measurements of field emission, the bare QBSNs show poor field emission performance, resulted from the existence of the native oxide layer which forms an insurmountable barrier for electron emission. In order to dramatically improve the field emission characteristics, the platinum nanopillars (Pt-NPs) were deposited on QBSNs to form Pt-NPs/QBSNs heterostructures. The turn-on field of Pt-NPs/QBSNs is as low as 2.29 V/μm (corresponding current density of 1 μA/cm2), and the field enhancement factor (β-value) is significantly increased to 6067. More importantly, the uniform and continuous electrons excite light emission, due to the surrounding filed emitters from Pt-NPs/QBSNs, can be easily obtained. This approach does not require an expensive photolithographic process and possesses great potential for applications.

Keywords: Biomimetics, quasi-beehive Si, SiGe nanoislands, platinum nanopillars, field emission.

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Authors: Armansyah, I. P. Almanar, M. Saiful Bahari Shaari, M. Shamil Jaffarullah, Nur’amirah Busu, M. Arif Fadzleen Zainal Abidin, M. Amlie A. Kasim

Abstract:

During welding, the amount of heat present in weld zones determines the quality of weldment produced. Thus, the heat distribution characteristics and its magnitude in weld zones with respect to process variables such as tool pin-shoulder rotational and traveling speed during welding is analyzed using thermal finite element analyses method. For this purpose, transient thermal finite element analyses are performed to model the temperatures distribution and its quantities in weld-zones with respect to process variables such as rotational speed and traveling speed during welding. Commercially available software Altair HyperWork is used to model three-dimensional tool pin-shoulder vs. workpieces and to simulate the friction stir process. The results show that increasing tool rotational speed, at a constant traveling speed, will increase the amount of heat generated in weld-zones. In contrary, increasing traveling speed, at constant tool pin-shoulder rotational speeds, will reduce the amount of heat generated in weld zones.

Keywords: Frictions Stir Welding, Temperature Distribution, Finite Element Method, Altair Hyperwork.

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Authors: Baghdasaryan Marinka, Ulikyan Azatuhi

Abstract:

The efficient usage of the compensation abilities of the electrical drive synchronous motors used in production processes can essentially improve the technical and economic indices of the process.  Reducing the flows of the reactive electrical energy due to the compensation of reactive power allows to significantly reduce the load losses of power in the electrical networks. As a result of analyzing the scientific works devoted to the issues of regulating the excitation of the synchronous motors, the need for comprehensive investigation and estimation of the excitation mode has been substantiated. By means of the obtained transmission functions, in the Simulink environment of the software package MATLAB, the transition processes of the excitation mode have been studied. As a result of obtaining and estimating the graph of the Nyquist plot and the transient process, the necessity of developing the Proportional-Integral-Derivative (PID) regulator has been justified. The transient processes of the system of the PID regulator have been investigated, and the amplitude–phase characteristics of the system have been estimated. The analysis of the obtained results has shown that the regulation indices of the developed system have been improved. The developed system can be successfully applied for regulating the excitation voltage of different-power synchronous motors, operating with a changing load, ensuring a value of the power coefficient close to 1.

Keywords: Transient process, synchronous motor, excitation mode, regulator, reactive power.

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Authors: G. Bago, P. Hedbávný

Abstract:

This contribution was developed from a research within the doctoral thesis. Its object was to create multimedia materials for sport gymnastics. Consequently we surveyed the influence of its practical application on the efficiency of schooling at a university. We verified the prescribed hypothesis of the efficiency of the teaching process using the method of single-factor experiment, where the entrance independent variable was the change of system of tuition and the outgoing dependent variable was the change of level of acquired motor skills. The results confirmed the positive impact of using multimedia materials on the efficiency of the teaching process. Further, with the aid of questionnaires, we evaluated how the tested subjects perceive the innovative methods in sport gymnastics. The responses showed that the students rate the application of multimedia materials very positively.

Keywords: efficiency of education, means of education, multimedia materials, sports gymnastics

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Authors: Yi Chao Huang, Yu Ling Liao, Chiu Shuang Lin

Abstract:

A data cutting and sorting method (DCSM) is proposed to optimize the performance of data mining. DCSM reduces the calculation time by getting rid of redundant data during the data mining process. In addition, DCSM minimizes the computational units by splitting the database and by sorting data with support counts. In the process of searching for the relationship between metabolic syndrome and lifestyles with the health examination database of an electronics manufacturing company, DCSM demonstrates higher search efficiency than the traditional Apriori algorithm in tests with different support counts.

Keywords: Data mining, Data cutting and sorting method, Apriori algorithm, Metabolic syndrome

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Authors: Aspasia Koutsokosta, Stefanos Katsavounis

Abstract:

This paper reviews the model-based qualitative and quantitative Operations Management research in the context of Construction Supply Chain Management (CSCM). Construction industry has been traditionally blamed for low productivity, cost and time overruns, waste, high fragmentation and adversarial relationships. The construction industry has been slower than other industries to employ the Supply Chain Management (SCM) concept and develop models that support the decision-making and planning. However the last decade there is a distinct shift from a project-based to a supply-based approach of construction management. CSCM comes up as a new promising management tool of construction operations and improves the performance of construction projects in terms of cost, time and quality. Modeling the Construction Supply Chain (CSC) offers the means to reap the benefits of SCM, make informed decisions and gain competitive advantage. Different modeling approaches and methodologies have been applied in the multi-disciplinary and heterogeneous research field of CSCM. The literature review reveals that a considerable percentage of the CSC modeling research accommodates conceptual or process models which present general management frameworks and do not relate to acknowledged soft Operations Research methods. We particularly focus on the model-based quantitative research and categorize the CSCM models depending on their scope, objectives, modeling approach, solution methods and software used. Although over the last few years there has been clearly an increase of research papers on quantitative CSC models, we identify that the relevant literature is very fragmented with limited applications of simulation, mathematical programming and simulation-based optimization. Most applications are project-specific or study only parts of the supply system. Thus, some complex interdependencies within construction are neglected and the implementation of the integrated supply chain management is hindered. We conclude this paper by giving future research directions and emphasizing the need to develop optimization models for integrated CSCM. We stress that CSC modeling needs a multi-dimensional, system-wide and long-term perspective. Finally, prior applications of SCM to other industries have to be taken into account in order to model CSCs, but not without translating the generic concepts to the context of construction industry.

Keywords: Construction supply chain management, modeling, operations research, optimization and simulation.

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Authors: Nabli L., Dhouibi H., Collart Dutilleul S., Craye E.

Abstract:

The indistinctness of the manufacturing processes makes that a parts cannot be realized in an absolutely exact way towards the specifications on the dimensions. It is thus necessary to assume that the effectively realized product has to belong in a very strict way to compatible intervals with a correct functioning of the parts. In this paper we present an approach based on mixing tow different characteristics theories, the fuzzy system and Petri net system. This tool has been proposed to model and control the quality in an assembly system. A robust command of a mechanical assembly process is presented as an application. This command will then have to maintain the specifications interval of parts in front of the variations. It also illustrates how the technique reacts when the product quality is high, medium, or low.

Keywords: Petri nets, production rate, performance evaluation, tolerant system, fuzzy sets.

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Authors: Mahesh K. Chudasama, Harit K. Raval

Abstract:

3-roller conical bending process is widely used in the industries for manufacturing of conical sections and shells. It involves static as well dynamic bending stages. Analytical models for prediction of bending force during static as well as dynamic bending stage are available in the literature. In this paper bending forces required for static bending stage and dynamic bending stages have been compared using the analytical models. It is concluded that force required for dynamic bending is very less as compared to the bending force required during the static bending stage.

Keywords: Analytical modeling, cone frustum, dynamic bending, static bending.

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Authors: Carlos Ferreira, Paulo Freitas, Valentim Freitas

Abstract:

Creative industries’ workers are becoming more prominent as countries move towards intellectual-based economies. Consequently, the nature and essence of the workplace needs to be reconfigured so that creativity and productivity can be better promoted at these spaces. Using a multidisciplinary approach and a user-centered methodology, combining product design, electronic engineering, software and human-computer interaction, we have designed and developed a new seat that uses embedded sensors and actuators to increase the overall well-being of its users, their productivity and their creativity. Our contribution focuses on the parameters that most affect the user’s work on these kinds of spaces, which are, according to our study, noise and temperature. We describe the design process for a new interactive seat targeted at improving workspace productivity.

Keywords: Human-computer interaction, usability, user interface, creativity, ergonomics.

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Authors: Ek Ngoy, A F Mulaba-Bafubiandi

Abstract:

Cobalt was acid nitric leached from a mixed cobaltcopper oxide with variable acid concentration. Resulting experimental data were used to analyze effects of increase in acid concentration, based on a shrinking core model of the process. The mathematical simulation demonstrated that the time rate of the dissolution mechanism is an increasing function of acid concentration. It was also shown that the magnitude of the acid concentration effect is time dependent and the increase in acid concentration is more effective at earlier stage of the dissolution than at later stage. The remaining process parameters are comprehensively affected by acid concentration and their interaction is synergetic.

Keywords: Acid effect, Cobalt, Cobalt-copper oxide, Leaching, Simulation

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Authors: Nebi Gedik

Abstract:

One of the important parts of the brain-computer interface (BCI) studies is the classification of motor imagery (MI) obtained by electroencephalography (EEG). The major goal is to provide non-muscular communication and control via assistive technologies to people with severe motor disorders so that they can communicate with the outside world. In this study, an EEG signal classification approach based on multiscale and multi-resolution transform method is presented. The proposed approach is used to decompose the EEG signal containing motor image information (right- and left-hand movement imagery). The decomposition process is performed using curvelet transform which is a multiscale and multiresolution analysis method, and the transform output was evaluated as feature data. The obtained feature set is subjected to feature selection process to obtain the most effective ones using t-test methods. SVM and k-NN algorithms are assigned for classification.

Keywords: motor imagery, EEG, curvelet transform, SVM, k-NN

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Authors: Morteza Khaleghi, Babak Seyed Aghazadeh, Hosein Bisadi

Abstract:

Oxyhydrogen is a mixture of Hydrogen (H₂) and Oxygen (O₂) gases. Detonative mixtures of oxyhydrogens with various combinations of these two gases were used in Gas Detonation Forming (GDF) to form sheets of mild steel. In die forming experiments, three types of conical dies with apex angles of 60, 90 and 120 degrees were used. Pressure of mixtures inside the chamber before detonation was varied from 3 Bar to 5 Bar to investigate the effect of pre-detonation pressure in the forming process. On each conical die, several experiments with different percentages of Hydrogen were carried out to determine the optimum gaseous mixture. According to our results the best forming process occurred when approximately 50-70%. Hydrogen was employed in the mixture. Furthermore, the experimental results were compared to the ones from FEM analysis. The FEM simulation results of thickness strain, hoop strain, thickness variation and deformed geometry are promising.

Keywords: Sheet metal forming, Gas detonation, FEM, Oxyhydrogen

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Authors: Brennan Lodge

Abstract:

Amidst a complex regulatory landscape, Retrieval Augmented Generation (RAG) emerges as a transformative tool for Governance Risk and Compliance (GRC) officers. This paper details the application of RAG in synthesizing Large Language Models (LLMs) with external knowledge bases, offering GRC professionals an advanced means to adapt to rapid changes in compliance requirements. While the development for standalone LLMs is exciting, such models do have their downsides. LLMs cannot easily expand or revise their memory, and they cannot straightforwardly provide insight into their predictions, and may produce “hallucinations.” Leveraging a pre-trained seq2seq transformer and a dense vector index of domain-specific data, this approach integrates real-time data retrieval into the generative process, enabling gap analysis and the dynamic generation of compliance and risk management content. We delve into the mechanics of RAG, focusing on its dual structure that pairs parametric knowledge contained within the transformer model with non-parametric data extracted from an updatable corpus. This hybrid model enhances decision-making through context-rich insights, drawing from the most current and relevant information, thereby enabling GRC officers to maintain a proactive compliance stance. Our methodology aligns with the latest advances in neural network fine-tuning, providing a granular, token-level application of retrieved information to inform and generate compliance narratives. By employing RAG, we exhibit a scalable solution that can adapt to novel regulatory challenges and cybersecurity threats, offering GRC officers a robust, predictive tool that augments their expertise. The granular application of RAG’s dual structure not only improves compliance and risk management protocols but also informs the development of compliance narratives with pinpoint accuracy. It underscores AI’s emerging role in strategic risk mitigation and proactive policy formation, positioning GRC officers to anticipate and navigate the complexities of regulatory evolution confidently.

Keywords: Retrieval Augmented Generation, Governance Risk and Compliance, Cybersecurity, AI-driven Compliance, Risk Management, Generative AI.

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Authors: Jo Rhodes, Peter Lok, Zahra Sadeghinejad

Abstract:

The aim of this study is to determine the impact of metacognition on top management team members and firm performance based on full team integration. A survey of 1500 small to medium enterprises (SMEs) was initiated and 140 firms were obtained in this study (with response rate of 9%). The result showed that different metacognitive abilities of managers [knowledge and experience] could enhance team decision-making and problem solving, resulting in greater firm performance. This is a significant finding for SMEs because these organisations have small teams with owner leadership and entrepreneurial orientation.

Keywords: Metacognition, behavioural integration, top management team, performance.

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Authors: Mounir Zekkaoui, Abdelhadi Fennan

Abstract:

The software evolution control requires a deep understanding of the changes and their impact on different system heterogeneous artifacts. And an understanding of descriptive knowledge of the developed software artifacts is a prerequisite condition for the success of the evolutionary process. The implementation of an evolutionary process is to make changes more or less important to many heterogeneous software artifacts such as source code, analysis and design models, unit testing, XML deployment descriptors, user guides, and others. These changes can be a source of degradation in functional, qualitative or behavioral terms of modified software. Hence the need for a unified approach for extraction and representation of different heterogeneous artifacts in order to ensure a unified and detailed description of heterogeneous software artifacts, exploitable by several software tools and allowing to responsible for the evolution of carry out the reasoning change concerned.

Keywords: Heterogeneous software artifacts, Software evolution control, Unified approach, Meta Model, Software Architecture.

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Authors: Chun-Der Chen, Yi-Wen Fan, Cheng-Kiang Farn

Abstract:

In today-s competitive global business environment, the concept of supply chain management (SCM) continues to become increasingly market-oriented, shifting the primary driver of the value chain from supply to demand. Recent recommendations encourage researchers to focus investigations on the supply chain process integration (SCPI) capabilities that integrate a focal firm with its network of suppliers and business customers to create value for it. However, theoretical and empirical researches pertaining to the antecedents and consequences of a focal firm-s SCPI capabilities have been limited and piecemeal. The purpose of this study is to investigate the critical determinants and consequences of a focal firm-s SCPI capabilities. We test our proposed research framework using a sample of 139 sales managers of manufacturing industries in Taiwan, our research findings show that (1) both perceived business customer-s power and focal firm-s market-oriented culture positively influences a focal firm-s SCPI capabilities, and (2) SCPI capabilities positively influence a focal firm-s SCM performance, both operational and strategic benefits. Implications for practitioners and researchers and suggestions for future research are also addressed in this study.

Keywords: Supply chain process integration capabilities, Perceived business customer's power, Market-oriented culture, Supply chain management performance.

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Authors: Laura Çami (Vorpsi), Xhon Skënderi

Abstract:

In today's rapidly evolving technological landscape, the traditional principles of contract law are facing significant challenges. The emergence of new technologies, such as electronic signatures, smart contracts, and online dispute resolution mechanisms, is transforming the way contracts are formed, interpreted, and enforced. This paper examines the implications of these technological advancements on the constitutional principles of contract law. One of the fundamental principles of contract law is freedom of contract, which ensures that parties have the autonomy to negotiate and enter into contracts as they see fit. However, the use of technology in the contracting process has the potential to disrupt this principle. For example, online platforms and marketplaces often offer standard-form contracts, which may not reflect the specific needs or interests of individual parties. This raises questions about the equality of bargaining power between parties and the extent to which parties are truly free to negotiate the terms of their contracts. Another important principle of contract law is the requirement of consideration, which requires that each party receives something of value in exchange for their promise. The use of digital assets, such as cryptocurrencies, has created new challenges in determining what constitutes valuable consideration in a contract. Due to the ambiguity in this area, disagreements about the legality and enforceability of such contracts may arise. Furthermore, the use of technology in dispute resolution mechanisms, such as online arbitration and mediation, may raise concerns about due process and access to justice. The use of algorithms and artificial intelligence to determine the outcome of disputes may also raise questions about the impartiality and fairness of the process. Finally, it should be noted that there are many different and complex effects of technical improvements on the fundamental constitutional foundations of contract law. As technology continues to evolve, it will be important for policymakers and legal practitioners to consider the potential impacts on contract law and to ensure that the principles of fairness, equality, and access to justice are preserved in the contracting process.

Keywords: Technological advancements, constitutional principles, contract law, smart contracts, online dispute resolution, freedom of contract.

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Authors: G. L. C. Yap

Abstract:

Modelling realized volatility with high-frequency returns is popular as it is an unbiased and efficient estimator of return volatility. A computationally simple model is fitting the logarithms of the realized volatilities with a fractionally integrated long-memory Gaussian process. The Gaussianity assumption simplifies the parameter estimation using the Whittle approximation. Nonetheless, this assumption may not be met in the finite samples and there may be a need to normalize the financial series. Based on the empirical indices S&P500 and DAX, this paper examines the performance of the linear volatility model pre-treated with normalization compared to its existing counterpart. The empirical results show that by including normalization as a pre-treatment procedure, the forecast performance outperforms the existing model in terms of statistical and economic evaluations.

Keywords: Long-memory, Gaussian process, Whittle estimator, normalization, volatility, value-at-risk.

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Authors: Shyam S.N. Perera

Abstract:

The optimal control problem for the viscoelastic melt spinning process has not been reported yet in the literature. In this study, an optimal control problem for a mathematical model of a viscoelastic melt spinning process is considered. Maxwell-Oldroyd model is used to describe the rheology of the polymeric material, the fiber is made of. The extrusion velocity of the polymer at the spinneret as well as the velocity and the temperature of the quench air and the fiber length serve as control variables. A constrained optimization problem is derived and the first–order optimality system is set up to obtain the adjoint equations. Numerical solutions are carried out using a steepest descent algorithm. A computer program in MATLAB is developed for simulations.

Keywords: Fiber spinning, Maxwell-Oldroyd, Optimal control, First-order optimality system, Adjoint system

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Authors: Yanshuang Zhang, Byungho Jeong

Abstract:

Data Envelopment Analysis (DEA) is a methodology that computes efficiency values for decision making units (DMU) in a given period by comparing the outputs with the inputs. In many cases, there are some time lag between the consumption of inputs and the production of outputs. For a long-term research project, it is hard to avoid the production lead time phenomenon. This time lag effect should be considered in evaluating the performance of organizations. This paper suggests a model to calculate efficiency values for the performance evaluation problem with time lag. In the experimental part, the proposed methods are compared with the CCR and an existing time lag model using the data set of the 21st century frontier R&D program which is a long-term national R&D program of Korea.

Keywords: DEA, Efficiency, Time Lag

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Authors: A. Sharahi, R. Tehrani, A. Mollajan

Abstract:

The final step to complete the “Analytical Systems Engineering Process” is the “Allocated Architecture” in which all Functional Requirements (FRs) of an engineering system must be allocated into their corresponding Physical Components (PCs). At this step, any design for developing the system’s allocated architecture in which no clear pattern of assigning the exclusive “responsibility” of each PC for fulfilling the allocated FR(s) can be found is considered a poor design that may cause difficulties in determining the specific PC(s) which has (have) failed to satisfy a given FR successfully. The present study utilizes the Axiomatic Design method principles to mathematically address this problem and establishes an “Axiomatic Model” as a solution for reaching good alternatives for developing the allocated architecture. This study proposes a “loss Function”, as a quantitative criterion to monetarily compare non-ideal designs for developing the allocated architecture and choose the one which imposes relatively lower cost to the system’s stakeholders. For the case-study, we use the existing design of U. S. electricity marketing subsystem, based on data provided by the U.S. Energy Information Administration (EIA). The result for 2012 shows the symptoms of a poor design and ineffectiveness due to coupling among the FRs of this subsystem.

Keywords: Allocated Architecture, Analytical Systems Engineering Process, Functional Requirements (FRs), Physical Components (PCs), Responsibility of a Physical Component, System’s Stakeholders.

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