Search results for: Central Coherence
Commenced in January 2007
Frequency: Monthly
Edition: International
Paper Count: 690

Search results for: Central Coherence

480 An Overview of the Porosity Classification in Carbonate Reservoirs and Their Challenges: An Example of Macro-Microporosity Classification from Offshore Miocene Carbonate in Central Luconia, Malaysia

Authors: Hammad T. Janjuhah, Josep Sanjuan, Mohamed K. Salah

Abstract:

Biological and chemical activities in carbonates are responsible for the complexity of the pore system. Primary porosity is generally of natural origin while secondary porosity is subject to chemical reactivity through diagenetic processes. To understand the integrated part of hydrocarbon exploration, it is necessary to understand the carbonate pore system. However, the current porosity classification scheme is limited to adequately predict the petrophysical properties of different reservoirs having various origins and depositional environments. Rock classification provides a descriptive method for explaining the lithofacies but makes no significant contribution to the application of porosity and permeability (poro-perm) correlation. The Central Luconia carbonate system (Malaysia) represents a good example of pore complexity (in terms of nature and origin) mainly related to diagenetic processes which have altered the original reservoir. For quantitative analysis, 32 high-resolution images of each thin section were taken using transmitted light microscopy. The quantification of grains, matrix, cement, and macroporosity (pore types) was achieved using a petrographic analysis of thin sections and FESEM images. The point counting technique was used to estimate the amount of macroporosity from thin section, which was then subtracted from the total porosity to derive the microporosity. The quantitative observation of thin sections revealed that the mouldic porosity (macroporosity) is the dominant porosity type present, whereas the microporosity seems to correspond to a sum of 40 to 50% of the total porosity. It has been proven that these Miocene carbonates contain a significant amount of microporosity, which significantly complicates the estimation and production of hydrocarbons. Neglecting its impact can increase uncertainty about estimating hydrocarbon reserves. Due to the diversity of geological parameters, the application of existing porosity classifications does not allow a better understanding of the poro-perm relationship. However, the classification can be improved by including the pore types and pore structures where they can be divided into macro- and microporosity. Such studies of microporosity identification/classification represent now a major concern in limestone reservoirs around the world.

Keywords: Carbonate reservoirs, microporosity, overview of porosity classification, reservoir characterization.

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479 Social and Economic Effects of Mining Industry Restructuring in Romania -Case Studies

Authors: Andra Costache, Gica Pehoiu

Abstract:

As in other countries from Central and Eastern Europe, the economic restructuring occurred in the last decade of the twentieth century affected the mining industry in Romania, an oversize and heavily subsidized sector before 1989. After more than a decade since the beginning of mining restructuring, an evaluation of current social implications of the process it is required, together with an efficiency analysis of the adaptation mechanisms developed at governmental level. This article aims to provide an insight into these issues through case studies conducted in the most important coal basin of Romania, Petroşani Depression.

Keywords: case studies, government programs, miningrestructuring, social effects.

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478 Computational Simulation of Imploding Current Sheath Trajectory at the Radial Phase of Plasma Focus Performance

Authors: R. Amrollahi, M. Habibi

Abstract:

When the shock front (SF) hits the central electrode axis of plasma focus device, a reflected shock wave moves radially outwards. The current sheath (CS) results from ionization of filled gas between two electrodes continues to compress inwards until it hits the out-going reflected shock front. In this paper the Lagrangian equations are solved for a parabolic shock trajectory yielding a first and second approximation for the CS path. To determine the accuracy of the approximation, the same problem is solved for a straight shock.

Keywords: Radial compression, Shock wave trajectory, Current sheath, Slog model.

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477 The Use of TV and the Internet in the Social Context

Authors: Khulood Miliany

Abstract:

This study examines the media habits of young people in Saudi Arabia, in particular their use of the Internet and television in the domestic sphere, and how use of the Internet impacts upon other activities. In order to address the research questions, focus group interviews were conducted with Saudi university students. The study found that television has become a central part of social life within the household where television represents a main source for family time, particularly in Ramadan while the Internet is a solitary activity where it is used in more private spaces. Furthermore, Saudi females were also more likely to have their Internet access monitored and circumscribed by family members, with parents controlling the location and the amount of time spent using the Internet.

Keywords: Domestication of Technology. Internet, Social context, Television, Young people.

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476 Nonlinear Dynamic Analysis of Base-Isolated Structures Using a Mixed Integration Method: Stability Aspects and Computational Efficiency

Authors: Nicolò Vaiana, Filip C. Filippou, Giorgio Serino

Abstract:

In order to reduce numerical computations in the nonlinear dynamic analysis of seismically base-isolated structures, a Mixed Explicit-Implicit time integration Method (MEIM) has been proposed. Adopting the explicit conditionally stable central difference method to compute the nonlinear response of the base isolation system, and the implicit unconditionally stable Newmark’s constant average acceleration method to determine the superstructure linear response, the proposed MEIM, which is conditionally stable due to the use of the central difference method, allows to avoid the iterative procedure generally required by conventional monolithic solution approaches within each time step of the analysis. The main aim of this paper is to investigate the stability and computational efficiency of the MEIM when employed to perform the nonlinear time history analysis of base-isolated structures with sliding bearings. Indeed, in this case, the critical time step could become smaller than the one used to define accurately the earthquake excitation due to the very high initial stiffness values of such devices. The numerical results obtained from nonlinear dynamic analyses of a base-isolated structure with a friction pendulum bearing system, performed by using the proposed MEIM, are compared to those obtained adopting a conventional monolithic solution approach, i.e. the implicit unconditionally stable Newmark’s constant acceleration method employed in conjunction with the iterative pseudo-force procedure. According to the numerical results, in the presented numerical application, the MEIM does not have stability problems being the critical time step larger than the ground acceleration one despite of the high initial stiffness of the friction pendulum bearings. In addition, compared to the conventional monolithic solution approach, the proposed algorithm preserves its computational efficiency even when it is adopted to perform the nonlinear dynamic analysis using a smaller time step.

Keywords: Base isolation, computational efficiency, mixed explicit-implicit method, partitioned solution approach, stability.

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475 Evaluation of Indoor-Outdoor Particle Size Distribution in Tehran's Elementary Schools

Authors: F. Halek, A. Kavousi, F. Hassani

Abstract:

A simultaneous study on indoor and outdoor particulate matter concentrations was done in five elementary schools in central parts of Tehran, Iran. Three sizes of particles including PM10, PM2.5 and PM1.0 were measured in 13 classrooms within this schools during winter (January, February and March) 2009. A laserbased portable aerosol spectrometer Model Grimm-1.108, was used for the continuous measurement of particles. The average indoor concentration of PM10, PM2.5 and PM1.0 in studied schools were 274 μg/m3, 42 μg/m3 and 19 μg/m3 respectively; and average outdoor concentrations of PM10, PM2.5 and PM1.0 were evaluated to be 22 μg/m3, 38 μg/m3 and 140 μg/m3 respectively.

Keywords: Elementary school, Indoor pollution, particulate matter, PM10, PM2.5, PM1.0, outdoor pollution, Tehran air pollution.

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474 On the Quantizer Design for Base Station Cooperation Systems with SC-FDE Techniques

Authors: K. Firsanov, S. Gritsutenko, R. Dinis

Abstract:

By employing BS (Base Station) cooperation we can increase substantially the spectral efficiency and capacity of cellular systems. The signals received at each BS are sent to a central unit that performs the separation of the different MT (Mobile Terminal) using the same physical channel. However, we need accurate sampling and quantization of those signals so as to reduce the backhaul communication requirements. In this paper we consider the optimization of the quantizers for BS cooperation systems. Four different quantizer types are analyzed and optimized to allow better SQNR (Signal-to-Quantization Noise Ratio) and BER (Bit Error Rate) performance.

Keywords: Base Stations cooperation scheme, Bit Error Rate (BER), Quantizer, Signal to Quantization Noise Ratio (SQNR), SCFDE.

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473 The Relation of College Students- Process of Study and Creativity: The Mediating Effect of Creative Self-Efficacy

Authors: Chih-Feng Chuang, Shih-Ching Shiu, Chao-Jen Cheng

Abstract:

The purpose of this study was to investigate the relationships among students- process of study, creative self-efficacy and creativity while attending college. A total of 60 students enrolled in Hsiuping Institute of Technology in central Taiwan were selected as samples for the study. The instruments for this study included three questionnaires to explore the aforesaid aspects. This researchers tested creative self-efficacy and process of study, and creativity with Pearson correlation and hierarchical regression analyses. The major findings of this research are (1) the process of study had direct positive predictability on creativity, and (2) the relationship between process of study and creativity is partially mediated by creative self-efficacy.

Keywords: Process of study, Creative self-efficacy, Creativity

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472 A Multistage Sulphidisation Flotation Procedure for a Low Grade Malachite Copper Ore

Authors: Tebogo P. Phetla, Edison Muzenda

Abstract:

This study was carried out to develop a flotation procedure for an oxide copper ore from a Region in Central Africa for producing an 18% copper concentrate for downstream processing at maximum recovery from a 4% copper feed grade. The copper recoveries achieved from the test work were less than 50% despite changes in reagent conditions (multistage sulphidisation, use of RCA emulsion and mixture, use of AM 2, etc). The poor recoveries were attributed to the mineralogy of the ore from which copper silicates accounted for approximately 70% (mass) of the copper minerals in the ore. These can be complex and difficult to float using conventional flotation methods. Best results were obtained using basic sulphidisation procedures, a high flotation temperature and extended flotation residence time.

Keywords: Froth flotation, Sulphidisation, Copper oxide ore, Mineralogy, Recovery

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471 Optimization of Gentamicin Production: Comparison of ANN and RSM Techniques

Authors: M.Rajasimman, S.Subathra

Abstract:

In this work, statistical experimental design was applied for the optimization of medium constituents for Gentamicin production by Micromsonospora echinospora subs pallida (MTCC 708) in a batch reactor and the results are compared with the ANN predicted values. By central composite design, 50 experiments are carried out for five test variables: Starch, Soya bean meal, K2HPO4, CaCO3 and FeSO4. The optimum condition was found to be: Starch (8.9,g/L), Soya bean meal (3.3 g/L), K2HPO4 (0.8 g/L), CaCO3 (4 g/L) and FeSO4 (0.03 g/L). At these optimized conditions, the yield of gentamicin was found to be 1020 mg/L. The R2 values were found to be 1 for ANN training set, 0.9953 for ANN test set, and 0.9286 for RSM.

Keywords: Gentamicin, optimization, Micromonospora echinospora, ANN, RSM

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470 Capacity Optimization in Cooperative Cognitive Radio Networks

Authors: Mahdi Pirmoradian, Olayinka Adigun, Christos Politis

Abstract:

Cooperative spectrum sensing is a crucial challenge in cognitive radio networks. Cooperative sensing can increase the reliability of spectrum hole detection, optimize sensing time and reduce delay in cooperative networks. In this paper, an efficient central capacity optimization algorithm is proposed to minimize cooperative sensing time in a homogenous sensor network using OR decision rule subject to the detection and false alarm probabilities constraints. The evaluation results reveal significant improvement in the sensing time and normalized capacity of the cognitive sensors.

Keywords: Cooperative networks, normalized capacity, sensing time.

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469 Program Memories Error Detection and Correction On-Board Earth Observation Satellites

Authors: Y. Bentoutou

Abstract:

Memory Errors Detection and Correction aim to secure the transaction of data between the central processing unit of a satellite onboard computer and its local memory. In this paper, the application of a double-bit error detection and correction method is described and implemented in Field Programmable Gate Array (FPGA) technology. The performance of the proposed EDAC method is measured and compared with two different EDAC devices, using the same FPGA technology. Statistical analysis of single-event upset (SEU) and multiple-bit upset (MBU) activity in commercial memories onboard the first Algerian microsatellite Alsat-1 is given.

Keywords: Error Detection and Correction, On-board computer, small satellite missions.

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468 Feasibility Study of Potential and Economic of Rice Straw VSPP Power Plant in Thailand

Authors: Sansanee Sansiribhan, Anusorn Rattanathanaophat, Chirapan Nuengchaknin

Abstract:

The potential feasibility of a 9.5 MWe capacity rice straw power plant project in Thailand was studied by evaluating the rice straw resource. The result showed that Thailand had a high rice straw biomass potential at the provincial level, especially, the provinces in the central, northeastern and western Thailand, which could feasibly develop plants. The economic feasibility of project was also investigated. The financial feasibility is also evaluated based on two important factors in the project, i.e., NPV ≥ 0 and IRR ≥ 11%. It was found that the rice straw power plant project at 9.5 MWe was financially feasible with the cost of fuel in the range of 30.6-47.7 USD/t.

Keywords: Power plant, Project feasibility, Rice straw, Thailand.

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467 EDULOGIC+ - Knowledge Management through Data Analysis in Education

Authors: Alok Sharma, Dr. Harvinder S. Saini, Raviteja Tiruvury

Abstract:

This paper outlines the application of Knowledge Management (KM) principles in the context of Educational institutions. The paper caters to the needs of the engineering institutions for imparting quality education by delineating the instruction delivery process in a highly structured, controlled and quantified manner. This is done using a software tool EDULOGIC+. The central idea has been based on the engineering education pattern in Indian Universities/ Institutions. The data, contents and results produced over contiguous years build the necessary ground for managing the related accumulated knowledge. Application of KM has been explained using certain examples of data analysis and knowledge extraction.

Keywords: Education software system, information system, knowledge management.

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466 A Multi-Agent Framework for Data Mining

Authors: Kamal Ali Albashiri, Khaled Ahmed Kadouh

Abstract:

A generic and extendible Multi-Agent Data Mining (MADM) framework, MADMF (the Multi-Agent Data Mining Framework) is described. The central feature of the framework is that it avoids the use of agreed meta-language formats by supporting a framework of wrappers. The advantage offered is that the framework is easily extendible, so that further data agents and mining agents can simply be added to the framework. A demonstration MADMF framework is currently available. The paper includes details of the MADMF architecture and the wrapper principle incorporated into it. A full description and evaluation of the framework-s operation is provided by considering two MADM scenarios.

Keywords: Multi-Agent Data Mining (MADM), Frequent Itemsets, Meta ARM, Association Rule Mining, Classifier generator.

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465 E-Service and the Nigerian Banking Sector: A Review of ATM Architecture and Operations

Authors: Bashir A. Yauri, Aliyu R. Yauri

Abstract:

With the introduction of cash-less society policy by the Central Bank of Nigeria, the concept of e-banking services have over the years’ experience a significant improvement. Today quite a number of people are embracing e-banking activities especially ATM, thereby moving away from the conventional banking system. This paper presents a review of the underlying Architectural Layout of Intra-Bank and Inter-Bank ATM connectivity in Nigeria. The paper further investigates and discusses factors affecting the Intra- Bank and Inter-Bank ATM connectivity in Nigeria. In addition, as well possible solutions to these factors affecting ATM Connectivity and Operations are proposed.

Keywords: Architectural layout, automated teller machine, e-services, interswitch.

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464 Financial Problems Met in the Tourism Sector in Turkey: A Survey on the Tourism Businesses

Authors: Raif Parlakkaya, Huseyin Cetin, Halil Akmese, Mesut Murat Adabali

Abstract:

As the economies of other countries in the Mediterranean Basin, the tourism sector in our country has a high denominator in economics. Tourism businesses, which are building blocks of tourism, sector faces with a variety of problems during their activities. These problems faced make business efficiency and competition conditions of the businesses difficult. Most of the problems faced by the tourism businesses and the information of consumers about consumers’ rights were used in this study, which is conducted to determine the problems of tourism businesses in the Central Anatolia Region. It is aimed to contribute the awareness of staff and executives working at tourism sector and to attract attention of businesses active concurrently with tourism sector and legislators.

Keywords: Financial Problems, The problems of Tourism businesses, Tourism Businesses, Tourism Sector in Turkey.

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463 An Adaptive Dynamic Fracture for 3D Fatigue Crack Growth Using X-FEM

Authors: S. Lecheb, A. Nour, A. Chellil, A. Basta, D. Belmiloud, H. Kebi

Abstract:

In recent years, a new numerical method has been developed, the extended finite element method (X-FEM). The objective of this work is to exploit the (X-FEM) for the treatment of the fracture mechanics problems on 3D geometries, where we showed the ability of this method to simulate the fatigue crack growth into two cases: edge and central crack. In the results we compared the six first natural frequencies of mode shapes uncracking with the cracking initiation in the structure, and showed the stress intensity factor (SIF) evolution function as crack size propagation into structure, the analytical validation of (SIF) is presented. For to evidence the aspects of this method, all result is compared between FEA and X-FEM.

Keywords: 3D fatigue crack growth, FEA, natural frequencies, stress intensity factor (SIF), X-FEM.

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462 Performance Comparison of Real Time EDAC Systems for Applications On-Board Small Satellites

Authors: Y. Bentoutou

Abstract:

On-board Error Detection and Correction (EDAC) devices aim to secure data transmitted between the central processing unit (CPU) of a satellite onboard computer and its local memory. This paper presents a comparison of the performance of four low complexity EDAC techniques for application in Random Access Memories (RAMs) on-board small satellites. The performance of a newly proposed EDAC architecture is measured and compared with three different EDAC strategies, using the same FPGA technology. A statistical analysis of single-event upset (SEU) and multiple-bit upset (MBU) activity in commercial memories onboard Alsat-1 is given for a period of 8 years

Keywords: Error Detection and Correction; On-board computer; small satellite missions

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461 A New Approach for Recoverable Timestamp Ordering Schedule

Authors: Hassan M. Najadat

Abstract:

A new approach for timestamp ordering problem in serializable schedules is presented. Since the number of users using databases is increasing rapidly, the accuracy and needing high throughput are main topics in database area. Strict 2PL does not allow all possible serializable schedules and so does not result high throughput. The main advantages of the approach are the ability to enforce the execution of transaction to be recoverable and the high achievable performance of concurrent execution in central databases. Comparing to Strict 2PL, the general structure of the algorithm is simple, free deadlock, and allows executing all possible serializable schedules which results high throughput. Various examples which include different orders of database operations are discussed.

Keywords: Concurrency control, schedule, timestamp, transaction.

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460 Social Networks and Absorptive Capacity

Authors: Rachelle Bosua, Nina Evans

Abstract:

The resource-based view of the firm regards knowledge as one of the most important organizational assets and a key strategic resource that contributes unique value to organizations. The acquisition, absorption and internalization of external knowledge are central to an organization-s innovative capabilities. This ability to evaluate, acquire and integrate new knowledge from its environment is referred to as a firm-s absorptive capacity (AC). This research in progress paper explores the link between interorganizational Social Networks (SNs) and a firm-s Absorptive Capacity (AC). Based on an in-depth literature survey of both concepts, four propositions are proposed that explain the link between AC and SNs. These propositions suggest that SNs are key to a firm-s AC. A qualitative research method is proposed to test the set of propositions in the next stage of this research.

Keywords: Knowledge, Innovation, Absorptive Capacity, Social Networks

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459 Two Class Motor Imagery Classification via Wave Atom Sub-Bants

Authors: Nebi Gedik

Abstract:

The goal of motor image brain computer interface research is to create a link between the central nervous system and a computer or device. The most important signal for brain-computer interface is the electroencephalogram. The aim of this research is to explore a set of effective features from EEG signals, separated into frequency bands, using wave atom sub-bands to discriminate right and left-hand motor imagery signals. Over the transform coefficients, feature vectors are constructed for each frequency range and each transform sub-band, and their classification performances are tested. The method is validated using EEG signals from the BCI competition III dataset IIIa and classifiers such as support vector machine and k-nearest neighbors.

Keywords: motor imagery, EEG, Wave atom transform sub-bands, SVM, k-NN

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458 Protein-Protein Interaction Detection Based on Substring Sensitivity Measure

Authors: Nazar Zaki, Safaai Deris, Hany Alashwal

Abstract:

Detecting protein-protein interactions is a central problem in computational biology and aberrant such interactions may have implicated in a number of neurological disorders. As a result, the prediction of protein-protein interactions has recently received considerable attention from biologist around the globe. Computational tools that are capable of effectively identifying protein-protein interactions are much needed. In this paper, we propose a method to detect protein-protein interaction based on substring similarity measure. Two protein sequences may interact by the mean of the similarities of the substrings they contain. When applied on the currently available protein-protein interaction data for the yeast Saccharomyces cerevisiae, the proposed method delivered reasonable improvement over the existing ones.

Keywords: Protein-Protein Interaction, support vector machine, feature extraction, pairwise alignment, Smith-Waterman score.

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457 Impact of Financial System’s Development on Economic Development: An Empirical Investigation

Authors: Vilma Deltuvaitė

Abstract:

Comparisons of financial development across countries are central to answering many of the questions on factors leading to economic development. For this reason this study analyzes the implications of financial system’s development on country’s economic development. The aim of the article: to analyze the impact of financial system’s development on economic development. The following research methods were used: systemic, logical and comparative analysis of scientific literature, analysis of statistical data, time series model (Autoregressive Distributed Lag (ARDL) Model). The empirical results suggest about positive short and long term effect of stock market development on GDP per capita.

Keywords: Banking sector, economic development, financial system’s development, stock market, private bond market.

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456 Optimization of Real Time Measured Data Transmission, Given the Amount of Data Transmitted

Authors: Michal Kopcek, Tomas Skulavik, Michal Kebisek, Gabriela Krizanova

Abstract:

The operation of nuclear power plants involves continuous monitoring of the environment in their area. This monitoring is performed using a complex data acquisition system, which collects status information about the system itself and values of many important physical variables e.g. temperature, humidity, dose rate etc. This paper describes a proposal and optimization of communication that takes place in teledosimetric system between the central control server responsible for the data processing and storing and the decentralized measuring stations, which are measuring the physical variables. Analyzes of ongoing communication were performed and consequently the optimization of the system architecture and communication was done.

Keywords: Communication protocol, transmission optimization, data acquisition.

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455 Routing Load Analysis over 802.11 DCF of Reactive Routing Protocols DSR and DYMO

Authors: Parma Nand, S.C. Sharma

Abstract:

The Mobile Ad-hoc Network (MANET) is a collection of self-configuring and rapidly deployed mobile nodes (routers) without any central infrastructure. Routing is one of the potential issues. Many routing protocols are reported but it is difficult to decide which one is best in all scenarios. In this paper on demand routing protocols DSR and DYMO based on IEEE 802.11 DCF MAC protocol are examined and characteristic summary of these routing protocols is presented. Their performance is analyzed and compared on performance measuring metrics throughput, dropped packets due to non availability of routes, duplicate RREQ generated for route discovery and normalized routing load by varying CBR data traffic load using QualNet 5.0.2 network simulator.

Keywords: Adhoc networks, wireless networks, CBR, routingprotocols, route discovery, simulation, performance evaluation, MAC, IEEE 802.11.

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454 Analysis of Influenza Cases and Seasonal Index in Thailand

Authors: S. Youthao, M. Jaroensutasinee, K. Jaroensutasinee

Abstract:

This study investigated the pattern and seasonal index of influenza cases in Thailand. Our results showed that southern Thailand had the highest influenza incidence among the four regions of Thailand (i.e. north, northeast, central and southern Thailand). The influenza pattern in southern Thailand was similar to that of northeastern Thailand. Seasonal index values of influenza cases in Thailand were higher in the hot season than in the wet season. Influenza cases started to increase at the beginning of the hot season (April), reached a maximum in August, rapidly declined in the middle of the wet season and reached the lowest value in December. Seasonal index values for northern Thailand differed from other regions of Thailand.

Keywords: Influenza, disease index, seasonal index, Thailand.

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453 Sri Lanka – Middle East Labour Migration Corridor: Trends, Patterns and Structural Changes

Authors: Dinesha Siriwardhane, Indralal De Silva, Sampath Amaratunge

Abstract:

Objective of this study is to explore the recent trends, patterns and the structural changes in the labour migration from Sri Lanka to Middle East countries and to discuss the possible impacts of those changes on the remittance flow. Study uses secondary data published by Sri Lanka Bureau of Foreign Employment and Central Bank. Thematic analysis of the secondary data revealed that the migration for labour has increased rapidly during past decades. Parallel with that the gender and the skill composition of the migration flow has been changing. Similarly, the destinations for male migration have changed over the period. These show positive implications on the international remittance receipts to the country.

Keywords: Labour migration, Remittances, Middle East, Sri Lanka.

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452 Teaching Project of Architecture in Portugal: Future Perspectives and the Revolution of New Generations

Authors: Patricia Diogo

Abstract:

As teachers and researchers, we often find ourselves grappling with a central question about what it truly means to teach project in architecture in Portugal in the 21st century. It is a question that transcends the simple transmission of technical knowledge or even the sharing of our personal experiences. Rather, it is about developing a teaching pedagogy that responds to and reflects the profound social, environmental, and technological shifts we are currently navigating. Teaching architecture in Portugal today is not a mere continuation of tradition; it is, in essence, a living laboratory of innovation. Each new generation of students enters our classrooms with a hunger not just for design techniques, but for meaning—seeking to understand the role they can play in reshaping our physical and cultural environments. They are not passive recipients of knowledge, but active participants in the creation of a more sustainable, ethical, and thoughtful architecture.

Keywords: Architecture, heritage, memories, project studio, teaching.

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451 Impact of Liquidity Crunch on Interbank Network

Authors: I. Lucas, N. Schomberg, F-A. Couturier

Abstract:

Most empirical studies have analyzed how liquidity risks faced by individual institutions turn into systemic risk. Recent banking crisis has highlighted the importance of grasping and controlling the systemic risk, and the acceptance by Central Banks to ease their monetary policies for saving default or illiquid banks. This last point shows that banks would pay less attention to liquidity risk which, in turn, can become a new important channel of loss. The financial regulation focuses on the most important and “systemic” banks in the global network. However, to quantify the expected loss associated with liquidity risk, it is worth to analyze sensitivity to this channel for the various elements of the global bank network. A small bank is not considered as potentially systemic; however the interaction of small banks all together can become a systemic element. This paper analyzes the impact of medium and small banks interaction on a set of banks which is considered as the core of the network. The proposed method uses the structure of agent-based model in a two-class environment. In first class, the data from actual balance sheets of 22 large and systemic banks (such as BNP Paribas or Barclays) are collected. In second one, to model a network as closely as possible to actual interbank market, 578 fictitious banks smaller than the ones belonging to first class have been split into two groups of small and medium ones. All banks are active on the European interbank network and have deposit and market activity. A simulation of 12 three month periods representing a midterm time interval three years is projected. In each period, there is a set of behavioral descriptions: repayment of matured loans, liquidation of deposits, income from securities, collection of new deposits, new demands of credit, and securities sale. The last two actions are part of refunding process developed in this paper. To strengthen reliability of proposed model, random parameters dynamics are managed with stochastic equations as rates the variations of which are generated by Vasicek model. The Central Bank is considered as the lender of last resort which allows banks to borrow at REPO rate and some ejection conditions of banks from the system are introduced.

Liquidity crunch due to exogenous crisis is simulated in the first class and the loss impact on other bank classes is analyzed though aggregate values representing the aggregate of loans and/or the aggregate of borrowing between classes. It is mainly shown that the three groups of European interbank network do not have the same response, and that intermediate banks are the most sensitive to liquidity risk.

Keywords: Systemic Risk, Financial Contagion, Liquidity Risk, Interbank Market, Network Model.

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