Search results for: box uncertainty
563 Multi-Criteria Based Robust Markowitz Model under Box Uncertainty
Authors: Pulak Swain, A. K. Ojha
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Portfolio optimization is based on dealing with the problems of efficient asset allocation. Risk and Expected return are two conflicting criteria in such problems, where the investor prefers the return to be high and the risk to be low. Using multi-objective approach we can solve those type of problems. However the information which we have for the input parameters are generally ambiguous and the input values can fluctuate around some nominal values. We can not ignore the uncertainty in input values, as they can affect the asset allocation drastically. So we use Robust Optimization approach to the problems where the input parameters comes under box uncertainty. In this paper, we solve the multi criteria robust problem with the help of E- constraint method.Keywords: Portfolio optimization, multi-objective optimization, E-constraint method, box uncertainty, robust optimization.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 663562 Suitability of Black Box Approaches for the Reliability Assessment of Component-Based Software
Authors: Anjushi Verma, Tirthankar Gayen
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Although, reliability is an important attribute of quality, especially for mission critical systems, yet, there does not exist any versatile model even today for the reliability assessment of component-based software. The existing Black Box models are found to make various assumptions which may not always be realistic and may be quite contrary to the actual behaviour of software. They focus on observing the manner in which the system behaves without considering the structure of the system, the components composing the system, their interconnections, dependencies, usage frequencies, etc.As a result, the entropy (uncertainty) in assessment using these models is much high.Though, there are some models based on operation profile yet sometimes it becomes extremely difficult to obtain the exact operation profile concerned with a given operation. This paper discusses the drawbacks, deficiencies and limitations of Black Box approaches from the perspective of various authors and finally proposes a conceptual model for the reliability assessment of software.
Keywords: Black Box, faults, failure, software reliability.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1414561 Mind Your Product-Market Strategy on Selecting Marketing Inputs: An Uncertainty Approach in Indian Context
Authors: Susmita Ghosh, Bhaskar Bhowmick
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Market is an important factor for start-ups to look into during decision-making in product development and related areas. Emerging country markets are more uncertain in terms of information availability and institutional supports. The literature review of market uncertainty reveals the need for identifying factors representing the market uncertainty. This paper identifies factors for market uncertainty using Exploratory Factor Analysis (EFA) and confirmed the number of factor retention using an alternative factor retention criterion ‘Parallel Analysis’. 500 entrepreneurs, engaged in start-ups from all over India participated in the study. This paper concludes with the factor structure of ‘market uncertainty’ having dimensions of uncertainty in industry orientation, uncertainty in customer orientation and uncertainty in marketing orientation.Keywords: Uncertainty, market, orientation, competitor, demand.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1686560 A Black-Box Approach in Modeling Valve Stiction
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Several valve stiction models have been proposed in the literature to help understand and study the behavior of sticky valves. In this paper, an alternative black-box modeling approach based on Neural Network (NN) is presented. It is shown that with proper network type and optimum model structures, the performance of the developed NN stiction model is comparable to other established method. The resulting NN model is also tested for its robustness against the uncertainty in the stiction parameter values. Predictive mode operation also shows excellent performance of the proposed model for multi-steps ahead prediction.
Keywords: Control valve stiction, neural network, modeling.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1635559 Confronting the Uncertainty of Systemic Innovation in Public Welfare Services
Authors: Harri Jalonen
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Faced with social and health system capacity constraints and rising and changing demand for welfare services, governments and welfare providers are increasingly relying on innovation to help support and enhance services. However, the evidence reported by several studies indicates that the realization of that potential is not an easy task. Innovations can be deemed inherently complex to implement and operate, because many of them involve a combination of technological and organizational renewal within an environment featuring a diversity of stakeholders. Many public welfare service innovations are markedly systemic in their nature, which means that they emerge from, and must address, the complex interplay between political, administrative, technological, institutional and legal issues. This paper suggests that stakeholders dealing with systemic innovation in welfare services must deal with ambiguous and incomplete information in circumstances of uncertainty. Employing a literature review methodology and case study, this paper identifies, categorizes and discusses different aspects of the uncertainty of systemic innovation in public welfare services, and argues that uncertainty can be classified into eight categories: technological uncertainty, market uncertainty, regulatory/institutional uncertainty, social/political uncertainty, acceptance/legitimacy uncertainty, managerial uncertainty, timing uncertainty and consequence uncertainty.Keywords: Systemic innovation, uncertainty, welfare services
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1654558 The Story of Mergers and Acquisitions: Using Narrative Theory to Understand the Uncertainty of Organizational Change
Authors: Philip T. Roundy
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This paper examines the influence of communication form on employee uncertainty during mergers and acquisitions (M&As). Specifically, the author uses narrative theory to analyze how narrative organizational communication affects the three components of uncertainty – decreased predictive, explanatory, and descriptive ability. It is hypothesized that employees whose organizations use narrative M&A communication will have greater predictive, explanatory, and descriptive abilities than employees of organizations using non-narrative M&A communication. This paper contributes to the stream of research examining uncertainty during mergers and acquisitions and argues that narratives are an effective means of managing uncertainty in the mergers and acquisitions context.Keywords: Narrative Theory, Mergers and Acquisitions, Employee Uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3071557 A Very Efficient Pseudo-Random Number Generator Based On Chaotic Maps and S-Box Tables
Authors: M. Hamdi, R. Rhouma, S. Belghith
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Generating random numbers are mainly used to create secret keys or random sequences. It can be carried out by various techniques. In this paper we present a very simple and efficient pseudo random number generator (PRNG) based on chaotic maps and S-Box tables. This technique adopted two main operations one to generate chaotic values using two logistic maps and the second to transform them into binary words using random S-Box tables. The simulation analysis indicates that our PRNG possessing excellent statistical and cryptographic properties.
Keywords: Chaotic map, Cryptography, Random Numbers, Statistical tests, S-box.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 3899556 Photon Localization inside a Waveguide Modeled by Uncertainty Principle
Authors: Shilpa N. Kulkarni, Sujata R. Patrikar
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In the present work, an attempt is made to understand electromagnetic field confinement in a subwavelength waveguide structure using concepts of quantum mechanics. Evanescent field in the waveguide is looked as inability of the photon to get confined in the waveguide core and uncertainty of position is assigned to it. The momentum uncertainty is calculated from position uncertainty. Schrödinger wave equation for the photon is written by incorporating position-momentum uncertainty. The equation is solved and field distribution in the waveguide is obtained. The field distribution and power confinement is compared with conventional waveguide theory. They were found in good agreement with each other.Keywords: photon localization in waveguide, photon tunneling, quantum confinement of light, Schrödinger wave equation, uncertainty principle.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2947555 A Low-cost Reconfigurable Architecture for AES Algorithm
Authors: Yibo Fan, Takeshi Ikenaga, Yukiyasu Tsunoo, Satoshi Goto
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This paper proposes a low-cost reconfigurable architecture for AES algorithm. The proposed architecture separates SubBytes and MixColumns into two parallel data path, and supports different bit-width operation for this two data path. As a result, different number of S-box can be supported in this architecture. The throughput and power consumption can be adjusted by changing the number of S-box running in this design. Using the TSMC 0.18μm CMOS standard cell library, a very low-cost implementation of 7K Gates is obtained under 182MHz frequency. The maximum throughput is 360Mbps while using 4 S-Box simultaneously, and the minimum throughput is 114Mbps while only using 1 S-BoxKeywords: AES, Reconfigurable architecture, low cost
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2099554 Optimization of Diverter Box Configuration in a V94.2 Gas Turbine Exhaust System using Numerical Simulation
Authors: A. Mohajer, A. Noroozi, S. Norouzi
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The bypass exhaust system of a 160 MW combined cycle has been modeled and analyzed using numerical simulation in 2D prospective. Analysis was carried out using the commercial numerical simulation software, FLUENT 6.2. All inputs were based on the technical data gathered from working conditions of a Siemens V94.2 gas turbine, installed in the Yazd power plant. This paper deals with reduction of pressure drop in bypass exhaust system using turning vanes mounted in diverter box in order to alleviate turbulent energy dissipation rate above diverter box. The geometry of such turning vanes has been optimized based on the flow pattern at diverter box inlet. The results show that the use of optimized turning vanes in diverter box can improve the flow pattern and eliminate vortices around sharp edges just before the silencer. Furthermore, this optimization could decrease the pressure drop in bypass exhaust system and leads to higher plant efficiency.
Keywords: Numerical simulation, Diverter box, Turning vanes, Exhaust system
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2835553 Uncertainty Multiple Criteria Decision Making Analysis for Stealth Combat Aircraft Selection
Authors: C. Ardil
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Fuzzy set theory and its extensions (intuitionistic fuzzy sets, picture fuzzy sets, and neutrosophic sets) have been widely used to address imprecision and uncertainty in complex decision-making. However, they may struggle with inherent indeterminacy and inconsistency in real-world situations. This study introduces uncertainty sets as a promising alternative, offering a structured framework for incorporating both types of uncertainty into decision-making processes.This work explores the theoretical foundations and applications of uncertainty sets. A novel decision-making algorithm based on uncertainty set-based proximity measures is developed and demonstrated through a practical application: selecting the most suitable stealth combat aircraft.
The results highlight the effectiveness of uncertainty sets in ranking alternatives under uncertainty. Uncertainty sets offer several advantages, including structured uncertainty representation, robust ranking mechanisms, and enhanced decision-making capabilities due to their ability to account for ambiguity.Future research directions are also outlined, including comparative analysis with existing MCDM methods under uncertainty, sensitivity analysis to assess the robustness of rankings,and broader application to various MCDM problems with diverse complexities. By exploring these avenues, uncertainty sets can be further established as a valuable tool for navigating uncertainty in complex decision-making scenarios.
Keywords: Uncertainty set, stealth combat aircraft selection multiple criteria decision-making analysis, MCDM, uncertainty proximity analysis
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 286552 Computing Fractal Dimension of Signals using Multiresolution Box-counting Method
Authors: B. S. Raghavendra, D. Narayana Dutt
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In this paper, we have developed a method to compute fractal dimension (FD) of discrete time signals, in the time domain, by modifying the box-counting method. The size of the box is dependent on the sampling frequency of the signal. The number of boxes required to completely cover the signal are obtained at multiple time resolutions. The time resolutions are made coarse by decimating the signal. The loglog plot of total number of boxes required to cover the curve versus size of the box used appears to be a straight line, whose slope is taken as an estimate of FD of the signal. The results are provided to demonstrate the performance of the proposed method using parametric fractal signals. The estimation accuracy of the method is compared with that of Katz, Sevcik, and Higuchi methods. In addition, some properties of the FD are discussed.Keywords: Box-counting, Fractal dimension, Higuchi method, Katz method, Parametric fractal signals, Sevcik method.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4650551 Property Aggregation and Uncertainty with Links to the Management and Determination of Critical Design Features
Authors: Steven Whittle, Ingrida Valiusaityte
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Within the domain of Systems Engineering the need to perform property aggregation to understand, analyze and manage complex systems is unequivocal. This can be seen in numerous domains such as capability analysis, Mission Essential Competencies (MEC) and Critical Design Features (CDF). Furthermore, the need to consider uncertainty propagation as well as the sensitivity of related properties within such analysis is equally as important when determining a set of critical properties within such a system. This paper describes this property breakdown in a number of domains within Systems Engineering and, within the area of CDFs, emphasizes the importance of uncertainty analysis. As part of this, a section of the paper describes possible techniques which may be used within uncertainty propagation and in conclusion an example is described utilizing one of the techniques for property and uncertainty aggregation within an aircraft system to aid the determination of Critical Design Features.Keywords: Complex Systems, Critical Design Features, Property Aggregation, Uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1568550 Finite Element and Subspace Identification Approaches to Model Development of a Smart Acoustic Box with Experimental Verification
Authors: Tamara Nestorović, Jean Lefèvre, Stefan Ringwelski, Ulrich Gabbert
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Two approaches for model development of a smart acoustic box are suggested in this paper: the finite element (FE) approach and the subspace identification. Both approaches result in a state-space model, which can be used for obtaining the frequency responses and for the controller design. In order to validate the developed FE model and to perform the subspace identification, an experimental set-up with the acoustic box and dSPACE system was used. Experimentally obtained frequency responses show good agreement with the frequency responses obtained from the FE model and from the identified model.
Keywords: Acoustic box, experimental verification, finite element model, subspace identification.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1595549 Variation of Uncertainty in Steady And Non-Steady Processes Of Queuing Theory
Authors: Om Parkash, C.P.Gandhi
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Probabilistic measures of uncertainty have been obtained as functions of time and birth and death rates in a queuing process. The variation of different entropy measures has been studied in steady and non-steady processes of queuing theory.Keywords: Uncertainty, steady state, non-steady state, trafficintensity, monotonocity
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1216548 A Distinguish Attack on COSvd Cipher
Authors: Mohammad Ali Orumiehchi ha, R. Mirghadri
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The COSvd Ciphers has been proposed by Filiol and others (2004). It is a strengthened version of COS stream cipher family denoted COSvd that has been adopted for at least one commercial standard. We propose a distinguish attack on this version, and prove that, it is distinguishable from a random stream. In the COSvd Cipher used one S-Box (10×8) on the final part of cipher. We focus on S-Box and use weakness this S-Box for distinguish attack. In addition, found a leak on HNLL that the sub s-boxes don-t select uniformly. We use this property for an Improve distinguish attack.
Keywords: Stream cipher, COSvd cipher, distinguish attack, nonlinear feedback shift registers, chaotic layer.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1189547 Comparison of Reliability Systems Based Uncertainty
Authors: A. Aissani, H. Benaoudia
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Stochastic comparison has been an important direction of research in various area. This can be done by the use of the notion of stochastic ordering which gives qualitatitive rather than purely quantitative estimation of the system under study. In this paper we present applications of comparison based uncertainty related to entropy in Reliability analysis, for example to design better systems. These results can be used as a priori information in simulation studies.Keywords: Uncertainty, Stochastic comparison, Reliability, serie's system, imperfect repair.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1287546 Airport Investment Risk Assessment under Uncertainty
Authors: Elena M. Capitanul, Carlos A. Nunes Cosenza, Walid El Moudani, Felix Mora Camino
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The construction of a new airport or the extension of an existing one requires massive investments and many times public private partnerships were considered in order to make feasible such projects. One characteristic of these projects is uncertainty with respect to financial and environmental impacts on the medium to long term. Another one is the multistage nature of these types of projects. While many airport development projects have been a success, some others have turned into a nightmare for their promoters. This communication puts forward a new approach for airport investment risk assessment. The approach takes explicitly into account the degree of uncertainty in activity levels prediction and proposes milestones for the different stages of the project for minimizing risk. Uncertainty is represented through fuzzy dual theory and risk management is performed using dynamic programming. An illustration of the proposed approach is provided.
Keywords: Airports, fuzzy logic, risk, uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2513545 Modeling the Uncertainty of the Remanufacturing Process for Consideration of Extended Producer Responsibility (EPR)
Authors: Michael R. Johnson, Ian P. McCarthy
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There is a growing body of evidence to support the proposition of product take back for remanufacturing particularly within the context of Extended Producer Responsibility (EPR). Remanufacturing however presents challenges unlike that of traditional manufacturing environments due to its high levels of uncertainty which may further distract organizations from considering its potential benefits. This paper presents a novel modeling approach for evaluating the uncertainty of part failures within the remanufacturing process and its impact on economic and environmental performance measures. This paper presents both the theoretical modeling approach and an example of its use in application.Keywords: Remanufacturing, Demanufacturing, Extended Producer Responsibility, Sustainability, Uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1771544 Estimation of Uncertainty of Thermal Conductivity Measurement with Single Laboratory Validation Approach
Authors: Saowaluck Ukrisdawithid
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The thermal conductivity of thermal insulation materials are measured by Heat Flow Meter (HFM) apparatus. The components of uncertainty are complex and difficult on routine measurement by modelling approach. In this study, uncertainty of thermal conductivity measurement was estimated by single laboratory validation approach. The within-laboratory reproducibility was 1.1%. The standard uncertainty of method and laboratory bias by using SRM1453 expanded polystyrene board was dominant at 1.4%. However, it was assessed that there was no significant bias. For sample measurement, the sources of uncertainty were repeatability, density of sample and thermal conductivity resolution of HFM. From this approach to sample measurements, the combined uncertainty was calculated. In summary, the thermal conductivity of sample, polystyrene foam, was reported as 0.03367 W/m·K ± 3.5% (k = 2) at mean temperature 23.5 °C. The single laboratory validation approach is simple key of routine testing laboratory for estimation uncertainty of thermal conductivity measurement by using HFM, according to ISO/IEC 17025-2017 requirements. These are meaningful for laboratory competent improvement, quality control on products, and conformity assessment.
Keywords: Single laboratory validation approach, within-laboratory reproducibility, method and laboratory bias, certified reference material.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 850543 Structural Behavior of Incomplete Box Girder Bridges Subjected to Unpredicted Loads
Authors: E. H. N. Gashti, J. Razzaghi, K. Kujala
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In general, codes and regulations consider seismic loads only for completed structures of the bridges while, evaluation of incomplete structure of bridges, especially those constructed by free cantilever method, under these loads is also of great importance. Hence, this research tried to study the behavior of incomplete structure of common bridge type (box girder bridge), in construction phase under vertical seismic loads. Subsequently, the paper provided suitable guidelines and solutions to resist this destructive phenomenon. Research results proved that use of preventive methods can significantly reduce the stresses resulted from vertical seismic loads in box cross sections to an acceptable range recommended by design codes.
Keywords: Box girder bridges, Prestress loads, Free cantilever method, Seismic loads, Construction phase.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1844542 Theoretical Study on Torsional Strengthening of Multi-cell RC Box Girders
Authors: Abeer A. M., Allawi A. A., Chai H. K.
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A new analytical method to predict the torsional capacity and behavior of R.C multi-cell box girders strengthened with carbon fiber reinforced polymer (CFRP) sheets is presented. Modification was done on the Softened Truss Model (STM) in the proposed method; the concrete torsional problem is solved by combining the equilibrium conditions, compatibility conditions and constitutive laws of materials by taking into account the confinement of concrete with CFRP sheets. A specific algorithm is developed to predict the torsional behavior of reinforced concrete multi-cell box girders with or without strengthening by CFRP sheets. Applications of the developed method as an assessment tool to strengthened multicell box girders with CFRP and first analytical example that demonstrate the contribution of the CFRP materials on the torsional response is also included.Keywords: Carbon fiber reinforced polymer, Concrete torsion, Modified Softened Truss Model, Multi-Cell box girder.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 4393541 Finding Equilibrium in Transport Networks by Simulation and Investigation of Behaviors
Authors: Gábor Szűcs, Gyula Sallai
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The goal of this paper is to find Wardrop equilibrium in transport networks at case of uncertainty situations, where the uncertainty comes from lack of information. We use simulation tool to find the equilibrium, which gives only approximate solution, but this is sufficient for large networks as well. In order to take the uncertainty into account we have developed an interval-based procedure for finding the paths with minimal cost using the Dempster-Shafer theory. Furthermore we have investigated the users- behaviors using game theory approach, because their path choices influence the costs of the other users- paths.Keywords: Dempster-Shafer theory, S-O and U-Otransportation network, uncertainty of information, Wardropequilibrium.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1558540 Determination of Measurement Uncertainty in Extracting of Forming Limit Diagrams
Authors: M. Mahboubkhah, H. Fayazfar
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In this research, Forming Limit Diagrams for supertension sheet metals which are using in automobile industry have been obtained. The exerted strains to sheet metals have been measured with four different methods and the errors of each method have also been represented. These methods have been compared with together and the most efficient and economic way of extracting of the exerted strains to sheet metals has been introduced. In this paper total error and uncertainty of FLD extraction procedures have been derived. Determination of the measurement uncertainty in extracting of FLD has a great importance in design and analysis of the sheet metal forming process.Keywords: Forming Limit Diagram, Major and Minor Strain, Measurement Uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2047539 Modeling Uncertainty in Multiple Criteria Decision Making Using the Technique for Order Preference by Similarity to Ideal Solution for the Selection of Stealth Combat Aircraft
Authors: C. Ardil
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Uncertainty set theory is a generalization of fuzzy set theory and intuitionistic fuzzy set theory. It serves as an effective tool for dealing with inconsistent, imprecise, and vague information. The technique for order preference by similarity to ideal solution (TOPSIS) method is a multiple-attribute method used to identify solutions from a finite set of alternatives. It simultaneously minimizes the distance from an ideal point and maximizes the distance from a nadir point. In this paper, an extension of the TOPSIS method for multiple attribute group decision-making (MAGDM) based on uncertainty sets is presented. In uncertainty decision analysis, decision-makers express information about attribute values and weights using uncertainty numbers to select the best stealth combat aircraft.
Keywords: Uncertainty set, stealth combat aircraft selection multiple criteria decision-making analysis, MCDM, uncertainty decision analysis, TOPSIS
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 224538 Development of a Value Evaluation Model of Highway Box-Girder Bridge
Authors: Hao Hsi Tseng
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Taiwan’s infrastructure is gradually deteriorating, while resources for maintenance and replacement are increasingly limited, raising the urgent need for methods for maintaining existing infrastructure within constrained budgets. Infrastructure value evaluation is used to enhance the efficiency of infrastructure maintenance work, allowing administrators to quickly assess the maintenance needs and performance by observing variation in infrastructure value. This research establishes a value evaluation model for Taiwan’s highway box girder bridges. The operating mechanism and process of the model are illustrated in a practical case.Keywords: Box girder bridge, deterioration, infrastructure, maintenance, value evaluation.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1264537 A Framework of Monte Carlo Simulation for Examining the Uncertainty-Investment Relationship
Authors: George Yungchih Wang
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This paper argues that increased uncertainty, in certain situations, may actually encourage investment. Since earlier studies mostly base their arguments on the assumption of geometric Brownian motion, the study extends the assumption to alternative stochastic processes, such as mixed diffusion-jump, mean-reverting process, and jump amplitude process. A general approach of Monte Carlo simulation is developed to derive optimal investment trigger for the situation that the closed-form solution could not be readily obtained under the assumption of alternative process. The main finding is that the overall effect of uncertainty on investment is interpreted by the probability of investing, and the relationship appears to be an invested U-shaped curve between uncertainty and investment. The implication is that uncertainty does not always discourage investment even under several sources of uncertainty. Furthermore, high-risk projects are not always dominated by low-risk projects because the high-risk projects may have a positive realization effect on encouraging investment.Keywords: real options, geometric Brownian motion, mixeddiffusion-jump process, mean- reverting process, jump amplitudeprocess
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1578536 Decision Making under Strict Uncertainty: Case Study in Sewer Network Planning
Authors: Zhen Wu, David Lupien St-Pierre, Georges Abdul-Nour
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In decision making under strict uncertainty, decision makers have to choose a decision without any information about the states of nature. The classic criteria of Laplace, Wald, Savage, Hurwicz and Starr are introduced and compared in a case study of sewer network planning. Furthermore, results from different criteria are discussed and analyzed. Moreover, this paper discusses the idea that decision making under strict uncertainty (DMUSU) can be viewed as a two-player game and thus be solved by a solution concept in game theory: Nash equilibrium.
Keywords: Decision criteria, decision making, sewer network planning, strict uncertainty.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1540535 Proposed a Method for Increasing the Delivery Performance in Dynamic Supply Network
Authors: M. Safaei, M. Seifert, K. D. Thoben
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Supply network management adopts a systematic and integrative approach to managing the operations and relationships of various parties in a supply network. The objective of the manufactures in their supply network is to reduce inventory costs and increase customer satisfaction levels. One way of doing that is to synchronize delivery performance. A supply network can be described by nodes representing the companies and the links (relationships) between these nodes. Uncertainty in delivery time depends on type of network relationship between suppliers. The problem is to understand how the individual uncertainties influence the total uncertainty of the network and identify those parts of the network, which has the highest potential for improving the total delivery time uncertainty.Keywords: Delivery time uncertainty, Distribution function, Statistical method, Supply Network.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 1710534 Sliding-Mode Control of a Permanent-Magnet Synchronous Motor with Uncertainty Estimation
Authors: Markus Reichhartinger, Martin Horn
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In this paper, the application of sliding-mode control to a permanent-magnet synchronous motor (PMSM) is presented. The control design is based on a generic mathematical model of the motor. Some dynamics of the motor and of the power amplification stage remain unmodelled. This model uncertainty is estimated in realtime. The estimation is based on the differentiation of measured signals using the ideas of robust exact differentiator (RED). The control law is implemented on an industrial servo drive. Simulations and experimental results are presented and compared to the same control strategy without uncertainty estimation. It turns out that the proposed concept is superior to the same control strategy without uncertainty estimation especially in the case of non-smooth reference signals.
Keywords: sliding-mode control, Permanent-magnet synchronous motor, uncertainty estimation, robust exact differentiator.
Procedia APA BibTeX Chicago EndNote Harvard JSON MLA RIS XML ISO 690 PDF Downloads 2385