Sustainable continuous cover forestry is defined and analyzed in several ways. The differential equation representing growth of the basal areas of individual trees, motivated by fundamental biological production theory by Lohmander (2017a), is analyzed and extended in different directions. From the solution of the differential equation, the basal area and the tree diameter are obtained as explicit functions of time. The diameter is a strictly increasing function of time. In the absence of competitors, the diameter increment is shown to be a strictly decreasing function of time. Hence, the diameter increment can also be interpreted as a strictly decreasing function of the diameter. Alternative forms of adjustment of the differential equation, with consideration of competition, are defined. If the competition is strong, with large trees in the vicinity of a particular tree, then the basal area increment, and the diameter increment, are reduced. The growth of a large tree is less sensitive than the growth of a small tree, to competition from other trees. Under strong competition, the basal area increment, and the diameter increment, are strictly concave functions of the size of the tree. The unique maximum of the diameter increment occurs at a higher diameter, if the competition increases. In dynamic equilibrium, the tree size frequency distribution is stationary. If natural tree mortality can be avoided via the harvest strategy, the tree size frequency distribution is a function of the size and competition dependent growth function, and the harvest strategy. Empirical tree size frequency data are used to simultaneously estimate parameters of a size and competition dependent growth function and the applied harvest strategy, via nonlinear optimization. The properties of the estimated growth function are consistent with the corresponding properties of the production theoretically motivated hypothetical function, and the properties of the estimated harvest strategy confirm the corresponding hypotheses. The R2 of the nonlinear regression exceeds 0.97. With access to an empirically estimated equilibrium tree size distribution, it is possible to: 1. Estimate size frequency relevant parameters of tree size and competition dependent growth functions for individual trees. 2. Estimate the applied harvest strategy. 3. Explain and reproduce the empirically estimated tree size equilibrium distribution.

Compared with the traditional bundle pricing strategy with fixed products, this paper proposes a more flexible interactive bundle pricing strategy (IBPS) for agricultural e-retailers. Since more and more consumers tend to buy more environmentally friendly and healthy organic agricultural products, we consider consumers' organic preferences and build a mixed bundle pricing model for organic and inorganic agricultural products. A free shipping strategy is introduced to maximize retailer profit and optimize consumer surplus. Through numerical analysis, we find: (1) Compared with the traditional online retailing method, IBPS can effectively stimulate consumption and higher retailer profit; (2) As the free shipping threshold increases, the total profit shows a trend of first increasing and then decreasing, indicating that a suitable free shipping threshold can optimize the retailer profit; (3) As the consumer green preference increases, the total sales of agricultural products decrease, but the organic sales improve, while total profit rises; (4) The higher the level of consumption, the higher the sales volume of organic products and there is an upward trend in the profits of e-retailers.

This study focuses on the optimal deployment problem, and determines the optimal size of a military force to send to the battle field. The decision is optimized, based on an objective function, that considers the cost of deployment, the cost of the time it takes to win the battle, and the costs of killed and wounded soldiers with equipment. The cost of deployment is modeled as an explicit function of the number of deployed troops and the value of a victory with access to a free territory, is modeled as a function of the length of the time it takes to win the battle. The cost of lost troops and equipment, is a function of the size of the reduction of these lives and resources. An objective function, based on these values and costs, is optimized, under different parameter assumptions. The battle dynamics is modeled via the Lanchester differential equation system based on the principles of directed fire. First, the deterministic problem is solved analytically, via derivations and comparative statics analysis. General mathematical results are reported, including the directions of changes of the optimal deployment decisions, under the influence of alternative types of parameter changes. Then, the first order optimum condition from the analytical model, in combination with numerically specified parameter values, is used to determine optimal values of the levels of deployment in different situations. A concrete numerical case, based on documented facts from the Battle of Iwo Jima, during WW II, is analyzed, and the optimal US deployment decisions are determined under different assumptions. The known attrition coefficients of both armies, from USA and Japan, and the initial size of the Japanese force, are parameters. The analysis is also based on some parameters without empirical documentation, that are necessary to include to make optimization possible. These parameter values are motivated in the text. The optimal solutions are found via Newton- Raphson iteration. Finally, a stochastic version of the optimal deployment problem is defined. The attrition parameters are considered as stochastic, before the deployment decisions have been made. The attrition parameters of the two armies have the same expected values as in the deterministic analysis, are independent of each other, have correlation zero, and have relative standard deviations of 20%. All possible deployment decisions, with 5000 units intervals, from 0 to 150000 troops, are investigated, and the optimal decisions are selected. The analytical, and the two numerical, methods, all show that the optimal deployment level is a decreasing function of the marginal deployment cost, an increasing function of the marginal cost of the time to win the battle, an increasing function of the marginal cost of killed and wounded soldiers and lost equipment, an increasing function of the initial size of the opposing army, an increasing function of the efficiency of the soldiers in the opposing army and a decreasing function of the efficiency of the soldiers in the deployed army. With stochastic attrition parameters, the stochastic model also shows that the probability to win the battle is an increasing function of the size of the deployed army. When the optimal deployment level is selected, the probability of a victory is usually less than 100%, since it would be too expensive to guarantee a victory with 100% probability. Some of many results of relevance to the Battle of Iwo Jima, are the following: In the deterministic Case 0 analysis, the optimal US deployment level is 66200, the time to win the battle is 30 days and 14000 US soldiers are killed or wounded. If the marginal cost of the time it takes to win a victory doubles, the optimal deployment increases to 75400, the time to win a victory is reduced to 26 days, and less than 12000 soldiers are killed or wounded. In the stochastic Case 0 analysis, the optimal US deployment level is 65000, the expected time to win the battle is 46 days and almost 25000 US soldiers are expected to be killed or wounded. If the cost per killed or wounded soldier increases from 0 to 5 M $US, the optimal deployment level increases to 75000. Then, the victory is expected to appear after 35 days and 19900 US soldiers are expected to be killed or wounded.

Change orders have received considerable attention from researchers thus far, but none have considered pricing strategies of change orders through the interaction between general contractors and subcontractors. Previous studies found that contractors’ opportunistic bidding considering beyond-contractual reward (BCR) in the execution stage can be reduced by improving the construction management system and strengthening the supervision of contractors’ performance. However, the BCR remains in ecology of construction engineering. This study proposes an integrated evolutionary game theory-system dynamics model (ET-SD model) and simulates the pricing strategy of change orders between general contractors and subcontractors to explore the root cause of BCR phenomenon. Sensitivity analysis on the evolutionary dynamics of payoff is explored. Results reveal that change orders with BCR maintain Nash equilibrium and evolutionary stable strategy (ESS) unless changing the payoff structure between general and subcontractors’ pricing strategies. This study presents important managerial insights from the evolutionary game perspectives, nature of change orders, and payoff of the alternative.

Based on the analysis of the working principle, circuit design and working loss of the common charger DC/DC converter, this paper designs a ZVS half-bridge three-level DC/DC converter based on non-phase-shift control mode, and proposes a multi-stage constant current and voltage limiting charging control strategy based on modulation wave selection control. The simulation results show that the proposed method and control strategy have faster voltage regulation ability and wider stability margin, and can achieve stable current sharing control in the charging process.

An optimal scheduling strategy for cooling, heating and power (CCHP) joint-power-supply system is proposed to improve energy utilization and minimize costs in this paper. Firstly, the mathematical model of CCHP system is established. Particle swarm optimization (PSO) is used to optimize the regularization coefficient C and the kernel parameter λ which can affect the prediction accuracy of KELM(PSO-KELM). Then PV generation and load prediction model are established by PSO-KELM. In order to jump out of local optimal solution, Cauchy variation is introduced in SFLA local update, and adaptive mutation operation is carried out on SFLA individuals. The predictions of PV generation and load power by PSO-KELM are imported into the objective function, and the microgrid dispatching model is solved by the improved SFLA algorithm. Compared with the traditional GA-KELM and KELM, PSO-KELM has faster convergence and prediction accuracy. Compared with the power supply division, the operation cost of the power grid is reduced by the proposed optimization dispatching strategy of CCHP micro-grid.

Demand responsive transport (DRT) is operated according to flexible routes, dispatch intervals, and dynamic demand, is attracting a lot of attention. The biggest characteristic of DRT service is that the vehicle routes and schedules are operated optimally based on real-time travel requests of using passengers without fixed operating schedules. Today, the smart-city era has arrived, particularly because of progress in the wireless communications technology and technology related to location information service and real-time passenger demands and requests, and services that change the vehicles’ operating schedules in real-time according to dynamic demand have attracted more attention. In this study, we analyze the effects of the DRT system to solve the first mile/last mile problem based on a proposed DRT routing algorithm considering real-time travel behavior. The algorithm is modified from the dynamic vehicle routing problem (DVRP), in which a DRT-based routing algorithm tends to minimize users’ cost and providers’ operation cost. So far, the DVRP has only been able to serve a single request per vehicle at a time. However, this needs to be extended for the purpose of DRT, wherein several passengers board a vehicle at the same time. The routing algorithm can serve multiple requests at a time and schedule picks ups, drop offs, and rides according to the requests and as calculated by the dispatch algorithm. The basic principle of routing is as follows. The DRT vehicle moves on an attractive path and picks up a passenger if boarding is requested, but it does not simply hang around as a DVRP would. In this step, if another DRT vehicle is present near another passenger, the vehicle that would minimize that passenger’s total travel time picks up the passenger. The optimal routing algorithm developed in this study is applied to the activity-based model; that is, a microscopic traffic demand estimation method is implemented through an activity-based model by using an open-source, activity-based model package called Multi-Agent Transport Simulation (MATSim). MATSim is used for the simulation, because it combines a multi-modal traffic flow simulation with a scoring model for agents, and it provides co-evolutionary algorithms that can alter agents’ daily routines. This process is applied to a type of mode choice and route choice repeatedly over several iterations until some form of user equilibrium has been reached. This study analyzed the feasibility of implementing the DRT service by analyzing the benefits for the users and cost of the operator from the effects of increasing public transportation use and providing personalized mobility service based on DRT implementation by the introduction of DRT will be analyzed according to the scale of DRT supply. Through the simulation, the DRT is expected to provide convenient, fast, and cost-effective mobility services to customers; provide an optimal vehicle scale to providers; and, ultimately, achieve a safe and efficient transportation system.

We consider the financial planning problem of a retiree wishing to enter a retirement village at a future uncertain date. The date of entry is determined by the retiree's utility and bequest maximisation problem within the context of uncertain future health states. In addition, the retiree must choose optimal consumption, investment, bequest and purchase of insurance products prior to her full annuitisation on entry to the retirement village. A hyperbolic absolute risk-aversion (HARA) utility function is used to allow necessary consumption for basic living and medical costs. The retirement village will typically require an initial deposit upon entry. This threshold wealth requirement leads to exercising the replication of an American put option at the uncertain stopping time. From our numerical results, active insurance and annuity markets are shown to be a critical aspect in retirement planning.

Motivated by a common Mathematical Finance topic, this paper surveys several results concerning windings of 2-dimensional processes, including planar Brownian motion, complex-valued Ornstein-Uhlenbeck processes and planar stable processes. In particular, we present Spitzer's asymptotic Theorem for each case. We also relate this study to the pricing of Asian options.

Background: The efficacy of local therapies for lung cancer patients with postoperative oligo-recurrence has been reported. However, whether local therapies should be chosen over molecular targeted therapies for oligo-recurrence patients with driver mutations remains controversial. We hence aimed to investigate the optimal initial treatment strategy for oligo-recurrence in lung cancer patients with driver mutations. Methods: Among 2,152 patients with lung adenocarcinoma who underwent surgical resection at our institute between 2008 and 2020, 66 patients with driver mutations who experienced cancer oligo-recurrence after surgery, and were treated with local or molecularly targeted therapy as an initial therapy after recurrence were evaluated. Oligo-recurrence was characterized by the presence of 1 to 3 recurrent lesions. These patients were investigated focusing on their post-recurrence therapies and prognoses. Results: The median follow-up period was 71 months. Local and molecular targeted therapies were administered to 41 and 25 patients, respectively. The number of recurrence lesions tended to be lower in the initial local therapy group than in the molecular targeted therapy group. In the initial local therapy group, 23 patients (56%) subsequently received molecular targeted therapies. The time from recurrence to the initiation of molecular targeted therapy was significantly longer in the local therapy group than in the molecular targeted therapy group (p < 0.001). There was no significant difference in post-recurrence overall survival (hazard ratio, 1.429; 95% confidence interval, 0.701–2.912; log-rank, p = 0.324), and post-recurrence progression-free survival (hazard ratio, 0.799; 95% confidence interval, 0.459–1.390; log-rank, p = 0.426) in the initial local ablative therapy group compared with the initial molecular targeted therapy group. Conclusions: Local therapies as a first-line treatment did not show statistically significant differences in post-recurrence survival or progression-free survival compared with molecular targeted therapies. However, local therapies as an initial treatment should be considered preferably, as it can cure the recurrence and can delay the start of administration of molecular-targeted therapies.

The Imbalance Cost Pass-Through (ICPT) is a flexible component of the Incentive Regulation (IBR) that empowers power producers to adjust tariffs in response to variable fuel prices, thereby enhancing the economic resilience of electricity generation. However, the cost of electricity generation is significantly influenced by the volatility of commodity prices, including coal, gas and LNG. In Malaysia, the Energy Commission has conducted biannual reviews of fuel and other generation costs. Any cost savings or increases identified during these reviews will be passed on to customers in the form of rebates or surcharges. Due to that reason, this study proposes ICPT price forecasting for the electricity market in Peninsular Malaysia. The study aims to construct an ICPT-related baseline model for the peninsular generation data by employing three forecasting methods. The forecasting performance is analysed by a Mean Absolute Percentage Error (MAPE). In findings, the ARIMA method is one of the most accurate forecasting methods for fuel prices compared to the Moving Average (MA) and LSSVM methods. The observed price differences between the ARIMA and LSSVM models for ICPT are minimal. The ICPT price for July-December 2022 and January-June 2023 is MYR 0.21/ kWh for ARIMA and MYR 0.18/kWh for LSSVM, which are close to the actual TNB’s ICPT tariff. As for the forecasting, the ICPT price is expected to drop for the next announcement. The findings of this study may contribute to a positive impact on the sustainability of the energy sector in Malaysia.

This paper aims at presenting an energy management strategy (EMS) based upon optimal control theory for a battery-supercapacitor hybrid power system. The hybrid power system consists of a Lithium-ion battery and a supercapacitor with associated bidirectional DC/DC converters. The proposed EMS aims at computing adaptive gains using salp swarm algorithm and load following control technique to assign the power reference for both the supercapacitor and the battery while achieving optimal performance and stable voltage. The DC-DC converter model is derived utilizing the first-principles method and compute the required gains to achieve the desired power. The fact that the developed algorithm takes disturbances into account increases the power ele-ments’ life expectancies and supplies the power system with the required power

There is no method of predicting the price of an option other than hedging strategies such as the binomial hedging strategy, the Black-Scholes hedging strategy and others. The price of an option is defined to be equal to the amount the seller needs to implement a hedging strategy. We will study these two basic hedging strategies in terms of their feasibility and we will see that the Black-Scholes hedging strategy is not feasible because this strategy demands instantaneously rebuilding the replicating portfolio. Consequently, the real world prices of the options are not relevant at all with the Black-Scholes hedging strategy! We will suitably redefine the binomial hedging strategy so that it will be practically useful and present other feasible and generally more effective hedging strategies with some of them are practically useful for options with no tradable underlying assets. Finally, we will mention some open questions related to the above.

Fluorescent bioprobes are invaluable tools for visualizing live cells and deciphering complex biological processes by targeting intracellular biomarkers without disrupting cellular functions. In addition to protein-binding concepts, fluorescent probes utilize various mechanisms, including membrane, metabolism, and gating-oriented strategies. This study introduces a novel fluorescent mechanism distinct from existing ways. Here, we developed a B-cell selective probe, CDrB, with unique transport mechanisms. Through SLC-CRISPRa screening, we identified two transporters, SLCO1B3 and SLC25A41, by sorting out populations exhibiting higher and lower fluorescence intensities, respectively, demonstrating contrasting activities. We confirmed that SLCO1B3, with comparable expression levels in T and B cells, facilitates the transport of CDrB into cells, while SLC25A41, overexpressed in T lymphocytes, actively exports CDrB. The observation suggests that SLC25A41 plays a crucial role in discriminating between T and B lymphocytes. Furthermore, it reveals the potential for reversible localization of SLC25A41 to demonstrate its distinct activity. This study is the first report to unveil a novel strategy of SLC by exporting the probe. We anticipate that this research will open up new avenues for developing fluorescent probes.

Enhancing the effectiveness of search and rescue operation at sea is always a duty of utmost importance of the coastal states. The search area for distressed objects can be determined by using Monte Carlo simulation, combined with the Median-Filter. Once the search area has been identified, the success of search and rescue operations depends on the sweeping ability of search and rescue vessel at the probability area of the distress object with the minimum time. This is the important element to the success of the search and rescue operation as it minimizes the risk and cost for Search and rescue team. In this article, the authors study and propose the use of Bacterial Foraging Optimization Algorithm (BFOA) to calculate the optimal search and co-ordination route for many search and rescue vessels in Vietnam sea. The simulation results show that it is quite consistent with reality and BFOA can be effectively applied to determine a quick search.

This study presents application of demand response strategy in a standalone wind-solar-battery hybrid energy system (HES). Inputs for the designed HES are wind speed, solar radiation, temperature and load demand which is variable with time. In this study, hourly values of meteorological data and hourly load demand are considered in one year. An improved gravitational search algorithm (IGSA) is used to optimize the configuration of the standalone wind-solar-battery hybrid power system. The optimal objectives of the system are cost of the system in life cycle, the loss of power supply probability（LPSP）and the energy excess percentage（EXC）.The effect of demand response on economic benefit and energy storage allocation of the standalone wind-solar-battery system is studied. The obtained optimal configuration of the proposed HES can provide minimal energy cost with excellent performance and reduced waste and unmet load.

As traffic congestion gets worse year by year in metropolitan areas, cities search for solutions to improve their traffic performance and reduce their environmental impacts. This paper focuses on parking pricing and congestion pricing and their short-term effects not only on traffic congestion but also on the potential revenue for a city. We develop an easy to implement multimodal macroscopic traffic and parking search model for a central area based on aggregated data at the network level. Our methodology allows us to analyze how introducing parking pricing inside a network, or a congestion toll combined with a park and ride (P+R) scheme can affect the drivers’ decision between entering the network by car (private vehicle) or using P+R instead. This decision directly influences the number of drivers using P+R, and this impacts, in turn, the traffic performance. Based on such analysis, a city can get valuable insights to evaluate whether congestion pricing is a necessity or if the traffic improvements resulting from implementing parking pricing strategies are sufficient when combined with P+R facilities. A search algorithm is used to find the best trade-off between the parking fees and the congestion toll. Any additional revenue collected through these schemes can then be used to improve public transport or the P+R facilities themselves. With minor data collection efforts and little computational costs compared to most existing parking and congestion pricing models, we illustrate our proposed framework in a case study of an area with a high parking demand for public parking spaces within the city of Zurich, Switzerland. Results show that parking pricing combined with P+R is indeed a viable option compared to congestion pricing for improving traffic performance, even if parking pricing schemes do not target all the drivers.

This work presents an innovative application of optimal control theory to the strategic scheduling of battery storage in the day-ahead electricity market, with a focus on enhancing profitability while factoring in battery degradation. The study incorporates in the optimisation framework the cost of battery capacity degradation, the effects of capacity degradation and internal resistance degradation into dynamics. We employ a continuous-time representation of the dynamics, in contrast with many other studies that use a discrete-time approximation with rather coarse intervals. We adopt an equivalent circuit model coupled with empirical degradation parameters to simulate a battery cell’s behaviour and degradation mechanisms with good support from experimental data. Utilising direct collocation methods with mesh refinement allows for precise numerical solutions to the complex, nonlinear dynamics involved. Through a detailed case study of Belgium’s day-ahead electricity market, we determine the optimal charging and discharging schedules under varying objectives: maximizing net revenues, profits considering capacity degradation, and profits considering both capacity degradation and internal resistance increase due to degradation. The results demonstrate the viability of our approach and underscore the significance of integrating degradation costs into the market strategy for battery operators, alongside its effects on the battery’s dynamic behaviour. Our methodology extends previous work by offering a more comprehensive model that empirically captures the intricacies of battery degradation, including a fine and adaptive time domain representation, focusing on the day-ahead market, and utilising accurate direct methods for optimal control. The paper concludes with insights into the potential of optimal control applications in energy markets and suggestions for future research avenues.

Optimal control is a critical tool for mechanical robotic systems, facilitating precise manipulation of dynamic processes. These processes are described through differential equations governed by a control function, addressing a time-optimal problem with bilinear characteristics. Our study utilizes the classical approach complemented by Pontryagin's Maximum Principle (PMP) to explore this inverse optimal problem. The objective is to develop an exact piecewise control function that effectively manages trajectory control while considering the effects of viscous friction. Our simulations demonstrate that the proposed control law markedly diminishes oscillations induced by boundary conditions. This research not only aims to delineate the reachability set but also strives to determine the minimal time required for the process. The findings include an exact analytical solution for the stated control problem.

To assure the opacity, an optimal problem is to retain the occurring events sequences as many as possible. Contrary to such problem, the other optimal problem is to preserve the minimal occurring events sequences. In the paper, based on the choosing cost, an optimal opacity-enforcing model is presented to minimize the sum of discount choosing cost, which is not only to preserve the opacity, but also to retain the secret to the maximum. To solve the model, two scenarios on opacity are considered. For the two scenarios, some algorithms are presented to achieve the optimal solution for the model by using the method of dynamic programming. And then, the solutions produced by the algorithms are proved correctly by theoretical proof. Finally, some illustrations for the algorithms are given.

This paper proposed an optimal tracking control scheme through adaptive dynamic programming(ADP) for a class of partially unknown discrete-time nonlinear systems based on radial basis function neural network(RBF-NN). In order to acquire the unknown system dynamics, we use two RBF-NNs, the one is used to construct the identifier, and the another is used to directly approximate the steady-state control input, where a novel adaptive law is proposed to update neural network weights. While the optimal feedback control and the cost function are derived via feedforward neural networks approximating, it is proposed to regulate the tracking error, the critic network and the actor network are then trained online to obtain the solution of the associated Hamilton–Jacobi–Bellman (HJB) equation being built under the ADP framework. Simulations verify the effectiveness of the optimal tracking control technique using the neural networks.

The wellness economy has developed rapidly recently, particularly in wellness tourism. Wellness tourism transforms sustainable strategy through the availability of extended multi-actor engagement in service innovation to further the tourism experience. Therefore, when operating a wellness tourism destination, it is necessary to encourage multi-actor engagement in service innovation to achieve sustainable development. This paper introduces a mixed research method with the SWOT-AHP-QSPM, as it qualitatively analyzes the advantages, disadvantages, opportunities, and threats, constructs an evaluation index system, conducts quantitative analysis using the analytic hierarchy process, determines the index weight and weighted score, and calculate the sustainable development strategy, which is appropriate for wellness development of Chongqing Tea Mountain and Bamboo Forest National Forest Park. Purposive field surveys and personal interviews were conducted in Chongqing forest tourism destinations, involving 356 effective respondents. The research reveals that multi-actor engagement significantly enhances sustainable development. These findings bridge service innovation knowledge gaps and provide valuable insights for forest tourism destination management and sustainable policy strategies to elevate multi-actor engagement in forest sites.

This paper considers the theoretical framework of the consumption-based asset-pricing model and derives successive approximations of the modified basic pricing equation using Taylor series expansions of the investor’s utility function during the averaging time interval Δ. For linear and quadratic Taylor approximations we derive new expressions for the mean asset price, mean payoff, their volatilities, skewness and amount of asset that delivers max to investor’s utility. We introduce new market-based price probability determined by statistical moments of the market trade values and volumes. We show that the market-based price probability results zero correla-tions between time-series of n-th power of price pn and trade volume Un, but doesn’t cause statis-tical independence and we derive correlation between time-series of price p and squares of trade volume U2. The market-based treatment of the random trade price describes impact of the size of market trade values and volumes on price probability. Predictions of the market-based price probability at horizon T should match forecasts of statistical moments of the trade values and volumes at the same horizon T. The market-based price probability emphasizes direct dependence on random properties of market trades.

The use of privileged scaffolds as starting point for the construction of libraries of bioactive compounds is a widely used strategy in drug discovery and development. Scaffold decoration, morphing and hopping are additional techniques that allow to modify the privileged framework chosen and better explore the chemical space around it. In this study, two series of highly functionalized pyrimidine and pyridine derivatives were synthesized by scaffold morphing approach of triazine compounds obtained previously as antiviral agents. Newly synthesized azines were evaluated against lymphoma, hepatocarcinoma, and colon epithelial carcinoma cells showing in five cases acceptable to good anticancer activity associated to low cytotoxicity on healthy fibroblasts. Finally, ADME in vitro studies were conducted on the best derivatives of the two series showing good passive permeability and resistance to metabolic degradation.

Reasonable allocation of production plans and saving the overall electricity cost are crucial for large manufacturing conglomerates, which is an effective way for conglomerates to realize open-source and cost-saving. This paper develops an optimization model of off-site industrial production scheduling for enterprises in response to the problems of high electricity costs due to the irrational allocation of production schedules on the demand side of China's electric power and the difficulty of promoting industrial and commercial distributed photovoltaic (PV) projects in China. The model makes full use of the conditions of different PV resources and different electricity prices in different places to optimize the scheduling of industrial production in different places. The model is embedded with two sub-models of the electricity price prediction model and distributed photovoltaic kWh cost model to complete the model parameters, in which the electricity price prediction model utilizes the LSTM neural network. The integrated model is then solved by the particle swarm algorithm. To verify the effectiveness of the model in solving the problem of off-site production scheduling on the demand side of electricity, the research team researched two off-site pharmaceutical factories belonging to the same large pharmaceutical company. Finally, the research data were substituted into the model for solving, and it was concluded that the optimization model could significantly reduce the cost of electricity consumption of the enterprise by about 7.9 %.

The state detection of power cable is very important to ensure the reliability of power supply. Traditional sensors are mostly based on electric field detection, the operation is complex, and its efficiency needs to be improved. This paper optimizes the design and development of the magnetic field detection sensor for AC power cables. Firstly, through the establishment of the magnetic field sensor model, it is determined that permalloy is the material of the magnetic core, the optimal aspect ratio of the magnetic core is 20, and the ratio of coil length to core length is 0.3. Secondly, the coil simulation model is established, and it is determined that the optimal number of turns of the coil is 11000 turns, the diameter of the enamelled copper wire is 0.08mm, and the equivalent magnetic field noise of the sensor is 0.06pT. Finally, the amplifying circuit based on negative magnetic flux feedback is designed and the sensor is assembled, and the experimental circuit is built for sensitivity test. the results show that the sensitivity of the magnetic field sensor is 327.6mV/μT. The sensor designed in this paper has the advantages of small size, high sensitivity, easy to carry and high reliability.

This paper presents an optimized energy management strategy for Li-ion power batteries used on electric vehicles (EVs) at low temperatures. Under low-temperature environments, EVs suffer a sharp driving range loss resulted from the energy and power capability reduction of the battery. Simultaneously, because of Li plating, battery degradation becomes an increasing concern as temperature drops. All these factors could greatly increase the total vehicle operation cost. Prior to battery charging and vehicle operating, preheating battery to a battery-friendly temperature is an approach to promote energy utilization and reduce total cost. Based on the proposed LiFePO4 battery model, the total vehicle operation cost under certain driving cycles is quantified in the present paper. Then given a certain ambient temperature, a target temperature of preheating is optimized under the principle of minimizing total cost. As for the preheating method, a liquid heating system is also implemented on an electric bus. Simulation results show that the preheating process becomes increasingly necessary with a decreasing ambient temperature; however, the preheating demand declines as driving range grows. Vehicle tests verify that the preheating management strategy proposed in this paper is able to save total vehicle operation cost.

Price markups and firm Tobin’s Q ratios are widely believed to have been increasing in the past several decades. Various models for the calculation of price markups have been developed, but each have methodological drawbacks and some results are poorly reflective of the near past wider macroeconomic experience. This paper defines an approach for the definition and measurement of markup pricing using the measure of Economic Rent and The Capital Asset Pricing Model. The results show limited markup pricing for The UK’s FTSE 100 companies (2018-2023), but that that certain Real Estate, Technology/Media and Financial Services/Equity Investment firms have enjoyed higher price markup levels. An analysis of the business models of these firms is used to qualitatively propose explanations for such markups. Finally, this work offers a formal proof that that expected price markup is equal to Tobin’s Q and finds that the empiric market level of markup is near equivalent to the market Tobin’s Q; differences between the markup and Tobin’s Q at the level of the firm are equally assessed.

The introduction of electrical vehicle charging infrastructure including EV charger, renewable energy resource at secondary feeder in distribution system has been increased as one of countermeasure for global environmental issues. However, the Electric Vehicle Charging (EVC) infrastructure may act as the peak load in distribution system, which can adversely impact on the voltage stability when the electric vehicle is quickly charged. Therefore, to keep within the limit capacity of secondary feeder and allowable limit for feeder voltage, this paper proposes a stabilization method by the Energy Storage System (ESS) control strategy at secondary feeder in order to be not violated over than lower and upper limit. Also, this paper presents the estimation method to keep the proper standard value of State of Charge (SOC). From the simulation results, the voltage stabilization operation by ESS should make the feeder voltages of the distribution system(secondary feeder) introduced EVC Infra keep better voltage conditions, also estimation method to keep the proper standard value is confirmed that the SOC of ESS when is the standby condition could be exactly kept within the proper reference range.

We present a normative methodology, for value-pricing B2B services, using a Nash Equilibrium mechanism. Value is fundamental to any service, yet it has defied a definition. The literature is conspicuously silent on how to define value, but abounds in richly descriptive characterizations. To overcome this deficit, we focus on the financial economics of service-value. We formulate an axiomatic definition and a differential equation that embodies the idea of service-value. We specify a set of value axioms and multidisciplinary postulates that coherently form our service-value constructs. Value-pricing is challenging. It is natural that providers desire a high price and customers want a low price. Realistically, both will agree on a win-win price. To uncover this price, we specify an algorithm to reveal the Nash Equilibrium. Once agreed, it validates providers’ and customers’ commitments, and payment obligations. Service value is cocreated by both provider and customer. For a reciprocal process, its treatment is remarkably asymmetric favoring the customer. We argue that one-sided descriptions of value-in-use and value-proposition are limiting mental models. We propose the additional ideas of value-from-use and value-supposition to strengthen the conceptual symmetry of cocreation. Our work reveals a critical gap in service science, metrology. Metrology, the science of measurements, is absent from service-science. Service-value is silent on the questions of quantities, units, scales, measurement principles and instruments. We argue for a call to action for Service Metrology. We sketch a roadmap of actionable suggestions to get started.

Innovation is an essential key factor in the technology development history. Past research on innovation focused more on the innovation behavior of technology, but seldom described knowledge assets which also influence innovation behavior greatly. The effect of knowledge assets attribute and result on disruptive innovation is therefore regarded as the research topic in this study, where disruptive innovation is divided into outbound and inbound to combine combination-embeddednessandmajor business specificityof knowledge assets as the research model. Manufacturing enterprises in China are proceeded the questionnaire survey, and 173 valid copies are collected. The empirical analysis shows that combination-embeddedness of knowledge assets presents significantly positive effects on major business specificity and outbound innovationof an enterprise but reveals remarkably negative effects on inbound innovation. Enterprises are suggested to constantly accumulate knowledge assets with low major business specificity before disruptive innovation in order to reduce ineffective inbound innovation.

The incremental sheet forming represents a relatively recent technology that guarantees high customization, thanks to the layered manufacturing principle typical of rapid prototyping, and cost-effectiveness, because it does not require dedicated equipment. Research has initially shown that this process is effective in metal materials capable of withstanding plastic deformation but, in recent years, the interest in this technique has been increasing for the manufacture of complex polymer sheet components as an alternative to the conventional technologies, based on heating-shaping-cooling manufacturing routes. Conversely, incremental formed polymer sheets can suffer from some peculiar defects, for example twisting. To reduce the risk of this phenomenon and the occurrence of failures, a viable way is to choose toolpath strategies that make the tool/sheet contact conditions less severe, and this represents the main goal of the present research. Polycarbonate sheets were worked by incremental forming; in detail, cone frusta with a fixed wall angle were manufactured with a reference and a stair toolpath strategy, and both the forming forces and the twist angle were monitored. The analysis of the results highlighted that a stair toolpath involving an alternation of diagonal up and vertical down steps represents a useful strategy to mitigate the forming forces and, with them, the occurrence of the twisting phenomenon in incremental formed thermoplastic sheets.

This short paper reveals a simple methodology to create local-correlation models suitable for the closed-form pricing of multi-asset financial derivatives. The multivariate models are built to ensure two conditions, first, marginals follow desirable processes, e.g. we choose the Geometric Brownian Motion (GBM), popular for stock prices. Second, the payoff of the derivative should follow a desired one dimensional process. These conditions lead to a specific choice of the dependence structure, in the form of a local-correlation model. Two popular multi-asset options are entertained, a spread option and a basket option.

We propose a methodology for the quantification of model risk in the context of credit derivatives pricing and CVA, where the uncertain or unmodelled parameter is often the correlation between rates and credit. We take the rates model to be Hull-White (normal) and the credit model to be Black-Karasinski (lognormal). We show how highly accurate analytic pricing formulae, hitherto unpublished, can be derived for CDS and extended to address instruments with defaultable Libor flows which may in addition be capped and/or floored. We also consider the pricing of a contingent CDS with an interest rate swap underlying. We derive explicit expressions showing how to good accuracy the dependence of model prices on the uncertain parameter(s) can be captured in analytic formulae which are readily amenable to computation without recourse to Monte Carlo or lattice-based computation. In so doing, we take into account the impact on model calibration of the uncertain (or unmodelled) parameter.

We study a two-echelon supply chain made up of a supplier and a manufacturer, both of which can reduce their component/product carbon emissions. With the vertical technology spillovers, we explore the optimal decisions of centralized and decentralized supply chains with price dependent demand and propose coordination strategy for the decentralized supply chain. Considering the cost contraction effectiveness of the technology spillovers, the centralized and decentralized game theoretic models of a two-echelon supply chain are developed to investigate optimal decisions of pricing and carbon emissions reduction. Through a systematic comparison and numerical analysis, we show that the profits of both players and the entire supply chain improve with the effect of technology spillovers increasing. Carbon emissions reduction will be taken by various protective measures so that the supplier and the manufacturer who do not innovate can hardly share the results of innovating via the “free-riding” methods when the technology spillover is relatively small. We also propose a revenue-cost sharing contract through bargaining to enhance the performance of the decentralized supply chain.

In this work, an innovative numerical approach for polylinear approximation (polylinearization) of non-self-intersecting compact sensor characteristics (transfer functions) specified either pointwise or analytically is introduced. The goal is to optimally partition the sensor characteristic, i.e. to select the vertices of the approximating polyline (approximant) along with their positions on, the sensor characteristics so that the distance (i.e. the separation) between the approximant and the characteristic is rendered below a certain problem-specific tolerance. To achieve this goal, two alternative non-linear optimization problems are solved, whose essential difference is in the adopted quantitative measure of the separation between the transfer function and the approximant. In the first problem, which relates to absolutely integrable sensor characteristics (their energy is not necessarily finite, but they can be represented in terms of convergent Fourier series), the polylinearization is constructed by numerical minimization of the L^1--metric (a distance-based separation measure), concerning the number of polyline vertices and their locations. In the second problem which covers the quadratically integrable sensor characteristics (whose energy is finite, but they do not necessarily admit a representation in terms of convergent Fourier series), the polylinearization is constructed by minimizing numerically the L^2-metric (area-, or energy-based separation measure) for the same set of optimization variables –the locations, and the number of polyline vertices.

This paper focuses on optimal sensor positioning for monitoring activities of daily living and investigates different combinations of features and models on different sensor positions, i.e., the side of the waist, front of the waist, chest, thigh, head, upper arm, wrist, and ankle. Sixteen features are extracted and the feature importance is measured by using the Relief-F feature selection algorithm. Eight classification algorithms are evaluated on a dataset collected from young subjects and that collected from elderly subjects, with two different experimental settings. To deal with different sampling rates, signals with a high data rate are down-sampled and a transformation matrix is used for aligning signals to the same coordinate system. The thigh, chest, side of the waist, and front of the waist are the best four sensor positions for the first dataset (young subjects), with average accuracy values being greater than 95%. The best model obtained from the first dataset for the side of the waist is validated on the second dataset (elderly subjects). The most appropriate number of features for each sensor position is reported. The results provide a reference for building activity recognition models for different sensor positions, as well as for data acquired from different hardware platforms and subject groups.

The paper examines the various uncertainties encountered in high-frequency trading (HFT) environments and delves into the multiple challenges faced by HFT firms in navigating the Dodd-Frank Wall Street Reform and Consumer Protection Act (referred to as the "Dodd-Frank Act"), particularly during the initial stages of its enactment. These challenges include the ambiguity surrounding the definition of HFT, the lack of clarity regarding regulatory requirements and boundaries, inconsistencies in enforcement resulting from deviations in understanding the content, and the absence of detailed descriptions of the Act’s provisions. These hurdles significantly impact not only the daily operations of HFT firms but also pose higher demands on their long-term strategic planning and risk management. Drawing upon the Data, Information, Knowledge, Wisdom, and Purpose (DIKWP) model, this study employs an innovative analytical framework. Through the comprehensive application of conceptual space, cognitive space, and semantic space, it provides a systematic methodology for identifying and analyzing the aforementioned issues. This approach not only aids firms in better comprehending and adhering to complex regulatory requirements but also enables them to explore new business opportunities and competitive advantages while ensuring compliance.

Background: Malnutrition in critically ill paitents is closely linked with clinical outcomes. During acute inflammatory states, nutrition cannot reverse the loss of body cell mass completely. Studies on nutritional screening and strategy considering metabolic changes not yet been conducted. We aimed to identify nutrition strategies using the modified Nutrition Risk in the Critically ill (mNUTIRC) score. Methods: Nutrition support data, laboratory nutrition indicators, and prognosis indices were prospectively collected on the 2nd and 7th day after admission. It is to identify the effect of changes on the metabolic status and critical target of nutrition intervention. To discriminate the high-risk group of malnutrition, receiver operating characteristic curves were plotted. Risk factors associated with 28 day-mortality were evaluated using multivariable Cox proportional hazards regression. Results: A total of 490 and 266 patients were analyzed on the 2nd and 7th day, respectively. Only the mNUTRIC score showed significant differences in nutritional risk stratification. The use of vasopressors, hypo-protein supply (< 1.0 g/kg/day), high mNUTRIC score and hypoalbuminemia (<2.5 mg/dl) in the recovery phase was strongly associated with 28-day mortality. Conclusions: The implementation of the mNUTRIC score and protein supply in the post-acute phase is critical to improve 28-day mortality in critically ill patients.

This paper delves into the dynamics of asset pricing within Bachelier’s market model (BMM), elucidating the representation of risky asset price dynamics and the definition of riskless assets. It highlights the fundamental differences between BMM and the Black-Scholes-Merton market model (BSMMM), including the extension of BMM to handle assets yielding a simple dividend. Our investigation further explores Bachelier’s term structure of interest rates (BTSIR), introducing a novel version of Bachelier’s Heath-Jarrow-Morton model and adapting the Hull-White interest rate model to fit BMM. The study concludes by examining the applicability of BMM in real-world scenarios, such as those involving environmental, social, and governance (ESG)-adjusted stock prices and commodity spreads.

In this note we study the binomial model applied to European, American and Bermudan type of derivatives. Our aim is to give the necessary and sufficient conditions under which we can define a fair value via replicating portfolios for any derivative using simple mathematical arguments and without using no arbitrage techniques. Giving suitable definitions we are able to define rigorously the fair value of any derivative without using concepts from probability theory or stochastic analysis therefore is suitable for students or young researchers. It will be clear in our analysis that if $e^{r \delta} \notin [d,u]$ then we can not define a fair value by any means for any derivative while if $d \leq e^{r \delta} \leq u$ we can. Therefore the definition of the fair value of a derivative is not so closely related with the absence of arbitrage. In the usual probabilistic point of view we assume that $d < e^{r \delta} < u$ in order to define the fair value but it is not clear what we can (or we can not) do in the cases where $e^{r \delta} \leq d$ or $e^{r \delta} \geq u$.

The famous Capital Asset Pricing Model (CAPM) takes into account only business risk. In practice, companies use debt financing and operate at non–zero levels of leverage. This means that it is necessary to take into account the financial risk associated with the use of debt financing along with business one. The purpose of this paper is to simultaneously take into account the business and financial risk. A new approach to CAPM has been developed that takes into account both business and financial risk. We combine the theory of CAPM and the Modigliani–Miller (MM) theory. The first is based on portfolio analysis and accounting for business risks in relation to the market (or industry). The second one (the Modigliani–Miller (MM) theory) describes a specific company and takes into account the financial risks associated with the use of debt financing. The combination of these two different approaches makes it possible to take into account both types of risks: business and financial ones. We combine these two approaches analytically, while Hamada did it phenomenologically. Using the Modigliani–Miller (MM) theory, it is shown that the Hamada’s model, first model, used for this purpose half a century ago, is incorrect. In addition to the renormalization of the beta–coefficient, obtained in the Hamada model, two additional terms are found: the renormalized risk–free return and the term dependent on the cost of debt kd. A critical analysis of the Hamada model was carried out. The vast majority of listing companies use debt financing and are levered, and the Hamada model is not applicable to them in contrast to a new approach applicable to leveraged companies. Implemented a new approach to specific companies. A comparison of the results of the new approach with the results of the conventional CAPM is shown. Two versions of CAPM (market or industry) are considered.

Methicillin-resistant Staphylococcus aureus (MRSA) infections, in particular biofilm-organized bacteria, remain a clinical challenge and a serious health problem. Rifabutin (RFB), an antibiotic of the rifamycins class, has shown in previous work excellent anti-staphylococcal activity. Here, we proposed to load RFB in liposomes aiming to promote the accumulation of RFB at infected sites and consequently enhancing the therapeutic potency. Two clinical isolates of MRSA, MRSA-C1 and MRSA-C2, were used to test the developed formulations, as well as the positive control, vancomycin (VCM). RFB in free and liposomal forms displayed high antibacterial activity, with minimal inhibitory concentrations (MIC) ranging from 0.009-0.013 μg/mL and MBIC50 values ranging from 0.008-0.012 μg/mL, in planktonic and biofilm bacteria, respectively. Confocal microscopy studies demonstrated the rapid internalization of unloaded and RFB-loaded liposomes in the bacterial biofilm matrix. In murine models of systemic MRSA-C1 infection, Balb/c mice were treated with RFB formulations and VCM at 20 and 40 mg/kg of body weight, respectively. Obtained data proved the superior therapeutic effectiveness of RFB formulations compared to Control and VCM groups even using a two-fold lower therapeutic dose as demonstrated by significantly reduced bacterial burden and growth index values in major organs. In addition, RFB formulations were the only formulations associated with 100% survival. Globally, this study emphasizes the potential of RFB nanoformulations as an effective and safe approach against MRSA infections.

This study explores optimizing Synthetic Aperture Radar (SAR) satellite constellation scheduling for multi-imaging missions in densely targeted areas using an in-house developed Modified Dynamic Programming (MDP) algorithm. By employing Mixed-Integer Linear Programming (MILP) to define the mission planning problem, the research aims to maximize observation of high-value targets within restricted planning horizons. Numerical simulations, covering a wide range of target numbers and satellite configurations, reveal the MDP algorithm’s superior mission allocation efficiency, enhanced success rates, and reduced revisit times, compared to the Greedy algorithm. The findings underscore the MDP algorithm’s improved operational efficiency and planning robustness for complex imaging tasks, demonstrating significant advancements over traditional approaches.

This study investigates optimal decisions in a green supply chain consisting of a manufacturer and a leading retailer considering the green marketing and fairness preferences of member firms. Four Stackelberg game decision models are constructed in which the manufacturer and the re-tailer engage in green marketing separately when the manufacturer has no and has fairness preferences. The impacts of fairness preferences and green marketing on the optimal decision in the green supply chain are comparatively analyzed. The study finds that member firms perform green marketing regardless of the presence or absence of fairness preferences and that such be-havior increases the wholesale price, retail price, and market demand of low-carbon products as well as the profits of member firms and the supply chain. A more interesting finding is that the profit growth of member firms and the supply chain due to the manufacturer’s green marketing is more pronounced than that due to the retailer’s green marketing. When the retailer and the manufacturer engage in conduct green marketing, the manufacturer's fairness preferences have different effects on the wholesale price, retail price, market demand, level of green marketing efforts, member enterprises and profits of supply chain. Therefore, firms should consider the impact of green marketing and fairness preferences to make pricing and performance decisions, so as to achieve efficient operation of the whole supply chain and avoid double marginal effects. Finally, the above conclusions are verified through numerical simulation, providing a reference for the decision-making of member firms in the green supply chain.

In this note we describe a new approach to the option pricing problem by introducing the notion of the safe (and acceptable) for the writer price of an option, in contrast to the fair price used in the Black-Scholes model. Our starting point is that the option pricing problem is closely related with the hedging problem by practical techniques. Recalling that the Black - Scholes model does not give us the price of the option but the initial value of a replicating portfolio we observe easily that has a serious disadvantage because assumes the building of this replicating portfolio continuously in time and this is a disadvantage of any model that assumes such a construction. Here we study the problem from the practical point of view concerning mainly the over the counter market. This approach is not affected by the number of the underlying assets and is particularly useful for incomplete markets. In the usual Black-Scholes or binomial or some other approaches one assumes that one can invest or borrow at the same risk free rate $r>0$ which is not true in general. Even if this is the case one can immediately observes that this risk free rate is not a universal constant but is different among different people or institutions. So, the fair price of an option is not so much fair! Moreover, the two sides are not, in general, equivalent against the risk therefore the notion of a fair price has no meaning at all. We also define a variant of the usual binomial model, by estimating safe upward and downward rates $u,d$, trying to give a cheaper safe or acceptable price for the option.

Abstract: Safety issues related to the electrification of more electric aircraft (MEA) need to be addressed because of the increasing complexity of aircraft electrical power systems and the growing number of safety-critical sub-systems that need to be powered. Managing the energy storage systems and the flexibility in the load-side plays an important role in preserving the system’s safety when facing an energy shortage. This paper presents a system-level centralized operation management strategy based on model predictive control (MPC) for MEA to schedule battery systems and exploit flexibility in the demand-side while satisfying time-varying operational requirements. The proposed online control strategy aims to maintain energy storage (ES) and prolong the battery life cycle, while minimizing load shedding, with fewer switching activities to improve devices lifetime and to avoid unnecessary transients. Using a mixed-integer linear programming (MILP) formulation, different objective functions are proposed to realize the control targets, with soft constraints improving the robustness of the model. Besides, an evaluation framework is proposed to analyze the effects of various objective functions and the prediction horizon on system performance, which provides the designers and users of MEA and other complex systems with new insights into operation management problem formulation.

This article presents a comprehensive framework for valuing financial instruments subject to credit risk. In particular, we focus on the impact of default dependence on asset pricing, as correlated default risk is one of the most pervasive threats in financial markets. We analyze how swap rates are affected by bilateral counterparty credit risk, and how CDS spreads depend on the trilateral credit risk of the buyer, seller, and reference entity in a contract. Moreover, we study the effect of collateralization on valuation, since the majority of OTC derivatives are collateralized. The model shows that a fully collateralized swap is risk-free, whereas a fully collateralized CDS is not equivalent to a risk-free one.

This paper presents experimental identification and vibration suppression of a flexible manipulator with non-collocated piezoelectric actuators and strain sensors using optimal multi-poles placement control. To precisely identify the system model, a reduced order transfer function with relocated zeros is proposed, and a first-order inertia element is added to the model to compensate the non-collocation. Comparisons show the identified model match closely with the experimental results both in the time and frequency domains, and a fit of 97.2% is achieved. Based on the identified model, a full-state multi-poles placement controller is designed, and the optimal locations of the closed loop poles are determined. The feasibility of the proposed controller is validated by simulations. Moreover, the controller is tested for different locations of the closed loop poles, and an excellent performance of the optimal locations of the closed loop poles is shown. Finally, the effectiveness of the proposed controller is demonstrated by experiments. Results show that the vibrations of the expected modes are significantly diminished. Besides, vibrations of the higher modes are also slightly suppressed. Accordingly, multi-mode vibrations of the manipulator are well attenuated, and the tip displacement converges quickly with the proposed method.

This study derives space travel pricing by Walrasian Equilibrium, which is logical reasoning from the general relativity theory (GRT), the accounting equation, and economic supply and demand functions. The Cobb-Douglas functions embed the endogenous space factor as new capital to form the space travel firm's production function, which is also transformed into the consumer's utility function. Thus, the market equilibrium occurs at the equivalence of supply and demand functions, like the GRT presents the equivalence between the spatial geometric tensor and the energy-momentum tensor, which explains the principles of gravity and the motion of space matter in the spacetime framework. The mathematical axiomatic set theory of the accounting equation explains the equity premium effect that causes a short-term accounting equation inequality, then reaches the equivalence by suppliers' incremental equity through the closing accounts process of the accounting cycle. On the demand side, the consumption of space travel can be assumed as a value at risk (VaR) investment to attain the specific spacetime curvature in an expected orbit. Spacetime market equilibrium is then achieved to construct the space travel pricing model. The methodology of econophysics and analogy method was applied to infer the space travel pricing by the model of profit maximization, single-minded, and envy-free pricing in unit-demand markets. A case study with simulation was conducted for empirical verification of the math models and algorithm. Results show that space travel pricing remains the principle of market equilibrium but needs to be extended to the spacetime tensor of GRT.

In this study, I extend the Fama and French five-factor asset pricing model with a sixth factor, namely, carbon risk, to investigate its impact on equity returns. To measure carbon risk, a new factor ‘pollutant minus green,’ is developed using the difference between the weighted average returns of pollutant and green firms across 51 developed and emerging countries across four categories—North America, Europe, Emerging Markets, and the Asia Pacific. The results reveal that North America, Europe, and Asia Pacific markets have a carbon risk premium that gets eliminated in small-cap firms. The carbon risk factor is further tested in left-hand side (LHS) test asset portfolios and found to be more pronounced with size-effect anomaly; specifically, small stock firms report greater declining average returns because of more exposure than the mega-cap stocks to carbon dioxide emissions. Furthermore, size-effect anomaly prevails with profitability and investment factors across firms. Therefore, high profitability, as well as high investment small firms, show a greater decline than the big stock firms in average returns when their carbon dioxide emissions increase. The asset pricing model evaluation is carried out through the Gibbons, Ross, and Shanken test. The six-factor model directed at capturing carbon risk patterns in average equity returns performs better than the three-factor and five-factor models of Fama and French (1993 and 2015) in the majority of categories under 3x3 sorting and compete with both Fama and French model under 2x4x4 sorted LHS portfolios. The finding of this study offers various useful applications for investors, policymakers, brokers, corporations, governmental pollution abatement institutions, and other stakeholders who wish to obtain carbon risk premium.

During public health events, Active Mobility (walking and cycling) plays an important role in securing residents' travel. To enhance the resilience of urban transportation, this article integrates the travel environment elements for walking and cycling and constructs a travel environment for Active Mobility evaluation index system. This article uses survey data from the main urban area of Harbin in the context of the COVID-19 pandemic in May 2022, and combines the Gradient Boosting Decision Tree (GBDT) and Impact-Asymmetry Analysis (IAA) methods to analyze the satisfaction of the travel environment for Active Mobility. It proposes strategies for optimizing the travel environment for Active Mobility, ensuring residents' travel during public health events, guiding them to adopt Active Mobility, and improving urban transportation resilience. This research shows that Active Mobility can enhance urban transportation resilience. In addition, there are differences in resident demand for walking and cycling environments in the travel environment for Active Mobility. Residents are more concerned about the comfort of the walking environment, while they prioritize the convenience of the cycling environment.

Resource pricing in cloud computing has become one of the main challenges for cloud providers. The challenge is determining a fair and appropriate price to satisfy users and resource providers. To determine a fair price, it is necessary to consider the conditions and needs of both parties: provider and user. This research tries to provide a pricing mechanism for cloud computing based on game theory. The proposed mechanism takes into account three factors including fault possibility, interaction between virtual machines, and energy consumption to reach a fair price. In the proposed game, the provider decides on the price of the virtual machine which can be offered to the user on each physical machine and the user decides between the virtual machines offered to run its application. The whole game is implemented as a function of the resource broker component. The proposed mechanism is simulated and evaluated using the CloudSim simulator. Its performance is compared with several previous recent mechanisms. According to the results, the proposed mechanism has been able to determine a more reasonable price for the user and the provider which increases the overall profitability of the cloud system.

Direct and indirect effects after mine operations cease must ideally be subject to perpetual monitoring routines in order to detect possible risks or avoid adverse effects on the surrounding ecosystems at an early stage. In this contribution, mining subsidence lakes created inside the nature reserve Kirchheller Heide and Hilsfeld Forest are subjected to analysis for a long-term monitoring scheme. For this purpose, we employ high-resolution unmanned aerial system (UAS)-based multispectral and thermal mapping tools to provide a fast, non-invasive and multitemporal environmental monitoring method. Specifically, we propose to monitor vegetation evolution through multispectral analysis, biotypes identification using machine learning algorithms, and water surface extent detection, together with their thermal behavior. The aim of this contribution is to present the proposed workflow and first results to establish a baseline for future analyses and subsequent surveys for longterm multi-temporal monitoring

^{We consider the collective pricing orders in a minimum supply chain that is composed of a monopolistic manufacturer and many retailers that belong to the same chain store firm. The retailers have the freedom to raise or lower the local price. The chain store firm sets up the commercial rules for local retail stores to maximize its total payoff. The monopolistic manufacturer firm controls the total quantity supplied for the market to achieve maximum benefits. We applied the two dimensional Ising model in statistical physics to map the collective distribution of microscopic strategy of local retailers into the macroscopic total payoff of the chain store firm. The local stores choose to raise the price or lower the price based their own mind when the supply in market surpasses the demand. When the supply in market is far less than the demand, the stores synchronously raise prices, even though a local store only have the incomplete information of their nearest neighboring supermarket. We find the critical equation for the balance point between the action of supplier and the action of chain store management based on game theory and statistical physics. The critical equation can identify the Nash equilibrium point of the non-cooperative game between the manufacturer and the chain-store seller, and reveal different levels of collective operations. This statistical physics method also holds for more complicate supply chains and economic systems.}

This paper inquires on the options pricing modeling using Artificial Neural Networks to price Apple(AAPL) European Call Options. Our model is based on the premise that Artificial Neural Networks can be used as functional approximators and can be used as an alternative to the numerical methods to some extent, for a faster and an efficient solution. This paper provides a neural network solution for two financial models, the BlackScholes-Merton model, and the calibrated-Heston Stochastic Volatility Model, we evaluate our predictions using the existing numerical solutions for the same, the analytic solution for the Black-Scholes equation, COS-Model for Heston’s Stochastic Volatility Model and Standard Heston-Quasi analytic formula. The aim of this study is to find a viable time-efficient alternative to existing quantitative models for option pricing.

In this paper, we consider a manufacturer who produces and sells a kind of innovative product in the monopoly market environment. Because the life cycle of innovative product is usually shorter than its procurement lead time, one unique demand quantity (scenario) will occur in the selling season, thus there is only one chance for the manufacturer to determine both optimal production quantity and optimal sale price. Considering this one-time feature of such a decision problem, a price-setting newsvendor model for innovative products is proposed. Different to the existing price-setting newsvendor models, the proposed models determine the optimal production quantity and sale price based on some specific state (scenario) which is most applicable for the manufacturer. The theoretical analysis provides managerial insights into the manufacturers’ behaviors in a monopoly market of an innovative product and several phenomena in the luxury goods market are well explained.

The influenza virus has been the primary cause of the pandemic, posing a constant threat to human society. Due to its genetic evolution and continuous outbreak, antiviral research currently focuses on exploring a novel lead agent. A comprehensive antiviral screening discovered a marine bacterium whose extract exerted excellent efficacy against influenza viruses. Parerythrobacter sp. M20A3S10, a novel strain under the family Erythrobacteraceae, could produce carotenoids exhibiting antiviral and anticancer activity by enhancing the cellular immune system. Post-treatment of M20A3S10 extract showed outstanding therapeutic indexes: against influenza virus A/PR8 (H1N1) [selectivity index (SI) = 24.0], A/Wisconsin/15/2009 (H3N2) (SI = 30.1) and B/Florida/78/2015 (SI = 38.2). Comparably, the effectiveness was demonstrated against Zika virus (ZIKV) and dengue virus type 2 (DENV2) with an SI of 22.5 and 24.1, respectively, namely broad-spectrum activity. Of note, the antiviral responses resulted from the common replication mechanism between IAV, ZIKV, and DENV2. The stimulation of apoptosis-mediated cellular immunity prevented the viral release and protected the host, suggesting that switching from necroptosis to apoptosis is a novel antiviral target. Although the specific compound affecting the antiviral activity was not identified, its promising efficacy with broad activity will contribute to developing a strategy for preventing future pandemics.

This article presents a combined route and path planning strategy to guide Skid-Steer Mobile Robots (SSMRs) in scheduled harvest tasks within expansive crop rows with complex terrain conditions. The proposed strategy integrates: i) a global planning algorithm based on the Traveling Salesman Problem under the Capacitated Vehicle Routing approach and Optimization Routing (OR-tools from Google) to prioritize harvesting positions by minimum path length, unexplored harvest points, and vehicle payload capacity, and ii) a local planning strategy using Informed Rapidly-exploring Random Tree (IRRT*) to coordinate scheduled harvesting points while avoiding low-traction terrain obstacles. The global approach generates an ordered queue of harvesting locations, maximizing the crop yield in a workspace map. In the second stage, the IRRT* planner avoids potential obstacles, including farm layout and slippery terrain. The path planning scheme incorporates a traversability model and a motion model of SSMRs to meet kinematic constraints. Experimental results in a generic fruit orchard demonstrated the effectiveness of the proposed strategy. In particular, the IRRT* algorithm outperformed RRT and RRT* with 96.1% and 97.6% smoother paths, respectively. The IRRT* also showed improved navigation efficiency, avoiding obstacles and slippage zones, making it suitable for precision agriculture.

In large-capacity energy storage systems, instructions are decomposed typically using an equalized power distribution strategy, where clusters/modules operate at the same power and durations. When dispatching shifts from stable single conditions to intricate coupled conditions, this distribution strategy inevitably results in increased inconsistency and hastened system aging. This paper presents a novel differentiated power distribution strategy comprising three control variables: the rotation status, the operating boundaries for both Depth of Discharge (DOD) and C-rates (C) within a control period. The proposed strategy integrates an aging cost prediction model developed to express the mapping relationship between these control variables and aging costs. Additionally, it incorporates the multi-colony particle swarm optimization (Mc-PSO) algorithm into the optimization model to minimize aging costs. The aging cost prediction model consists of three functions: predicting health features (HFs) based on the cumulative charge/discharge throughput quantity and operating boundaries, characterizing HFs as comprehensive scores, and calculating aging costs using both comprehensive scores and residual equipment value. Further, we elaborated on the engineering application process for the proposed control strategy. In the simulation scenarios, this strategy prolonged the service life by 14.62%, reduced the overall aging cost by 6.61%, and improved module consistency by 21.98%, compared with the traditional equalized distribution strategy. In summary, the proposed strategy proves effective in elongating service life, reducing overall aging costs, and increasing the benefit of energy storage systems in particular application scenarios.

Nowadays, considering the growing tendency of companies towards e-commerce as well as green production, and dual-channel green supply chain management has become particularly important. This paper investigates pricing decisions within a dual-channel green supply chain framework while considering the capital constraints faced by risk-averse manufacturer. Simultaneously, the impact of the degree of risk aversion, consumer green preferences, and channel preferences on the optimal decision-making process of green supply chain members is analyzed. We address the issue of financial constraints faced by manufacturer through bank loans and trade credit financing and compare the two cases. Our findings illustrate that trade credit financing outperforms bank loan financing in the dual-channel green supply chain. Moreover, pricing decisions under different models are influenced by consumer preferences and risk aversion. Specifically, the greenness of the product, wholesale price, and sale price exhibit negative correlations with manufacturers' risk aversion but positive correlations with consumer preferences.

Sweat rate and electrolyte losses have a large inter-individual variability, a personalized approach to hydration can overcome this issue to meet an individual’s needs. This study aimed to investigate the effects of personalized hydration strategy (PHS) on fluid balance and intermittent exercise performance. Twelve participants conducted 11 laboratory visits including a VO2max test and two 5-day trial arms under normothermic (NOR) or hyperthermic (HYP) environmental conditions. Each arm began with 3-day of familiarization exercise following by two random exercise trials with a either PHS or control (CON). Then, participants crossed-over to the second arm for: NOR+PHS, NOR+CON, HYP+PHS, and HYP+CON. The PHS was prescribed according to participants’ fluid and sweat sodium losses. CON drank ad-libitum of commercially-available electrolyte solution. Exercise trials consisted of two phases: 1) 45min constant workload; 2) high-intensity intermittent exercise (HIIT) until exhaustion. PHS had a significantly greater fluid intake compared to CON. HYP+CON produced the lowest sweat sodium concentration. HYP+PHS had a lower thirst perception and a longer HIIT compared to HYP+CON. Thus, PHS reinforces fluid intake and successfully optimizes hydration status, regardless of environmental conditions. PHS may be or is an important factor to preventing negative physiological consequences during high-intensity exercise in the heat.

In this paper we derive a unified perspective for Optimal Transport (OT) theory and Mean Field Control (MFC) theory to analyse the learning process for Neural Networks algorithms in a high-dimensional framework. We consider Mean Field Neural Networks in the context of MFC theory, specifically the mean field formulation of OT theory that allows the development of highly efficient algorithms while providing a powerful tool in the context of explainable Artificial Intelligence.

The human microbiome is an extremely complex ecosystem considering the amount of bacterial species, their interactions, and its variability over time. Here we untangle the complexity of the human microbiome for the Irritable Bowel Syndrome (IBS) that is the most prevalent functional gastrointestinal disorder in human populations. Based on a novel information theoretic network inference model we detect species interaction networks that are functionally and structurally different for healthy and unhealthy individuals. Healthy networks are characterized by a neutral symmetrical pattern of species interactions and scale-free topology versus random unhealthy networks. We detect an inverse scaling relationship between species total outgoing information flow, meaningful of node interactivity, and relative species abundance (RSA). The top ten interacting species are also the least relatively abundant for the healthy microbiome and the most detrimental. These findings support the idea about the diminishing role of network hubs and hubs should be defined considering the total outgoing information flow rather than the node degree. Macroecologically, the healthy microbiome is characterized by the highest total species diversity growth rate, the lowest species turnover, and the smallest variability of RSA for all species. This result challenges current views that posit a universal association between healthy states and the highest absolute species diversity in ecosystems. Additionally, we show how the transitory microbiome is unstable and microbiome criticality is not at the phase transition between healthy and unhealthy states. We stress out the importance of considering interacting pairs versus single node dynamics when characterizing the microbiome and of ranking these pairs in terms of their dynamics. Interactions (i.e. species collective behavior) shape transition from healthy to unhealthy states.\\ The macroecological characterization of the microbiome is useful for diagnostic purposes and disease etiognosis, while species-specific analyses can detect species that are more beneficial leading to personalized design of pre- and pro-biotic treatments and microbiome engineering.

Several life contingency agreements are based on the assumption that policyholders have impaired life expectancy attributable to factors such as lifestyle, social class, or preexisting health issues. Quantifying two crucial variables, augmented death probabilities and the discount rate of projected cash flows, is essential for pricing such agreements. Information regarding the correct values of these parameters is subject to vagueness and imprecision, which further intensifies if impairments must be considered. This study proposes modelling mortality and interest rates using a generalization of fuzzy numbers (FNs), known as intuitionistic fuzzy numbers (IFNs). Consequently, this paper extends the literature on life contingency pricing with fuzzy parameters, where uncertainty in variables, such as interest rates and death probabilities, is modelled using FNs. While FNs introduce epistemic uncertainty, the use of IFNs adds bipolarity to the analysis by incorporating both positive and negative information regarding actuarial variables. Our analysis focuses on two agreements involving policyholders with impaired life expectancy: determining the annuity payment in a substandard annuity and pricing a life settlement over a whole life insurance policy. In particular, we emphasize modelling interest rates and survival probabilities using triangular intuitionistic fuzzy numbers (TIFNs) owing to their ease of interpretation and implementation.

Many problems in the fields of finance and actuarial science can be transformed into the problem of solving backward stochastic differential equations (BSDE) and partial differential equations (PDE) with jumps, which are often difficult to solve in high-dimensional cases. To solve this problem, this paper applies the deep learning algorithm to solve a class of high-dimensional nonlinear partial differential equations with jump terms and their corresponding backward stochastic differential equations (BSDE) with jump terms. Using the nonlinear Feynman-Kac formula, the problem of solving this kind of PDE is transformed into the problem of solving the corresponding backward stochastic differential equations with jump terms, and the numerical solution problem is turned into a stochastic control problem. At the same time, the gradient and jump process of the unknown solution are separately regarded as the strategy function and they are approximated respectively by using two multilayer neural networks as function approximators. Thus, deep learning-based method is used to overcome the “curse of dimensionality” caused by high-dimensional PDE with jump, and the numerical solution is obtained. In addition, this paper proposes a new optimization algorithm based on the existing neural network random optimization algorithm, and compares the results with the traditional optimization algorithm, and achieves good results. Finally, the proposed method is applied to three practical high-dimensional problems: Hamilton-Jacobi-Bellman equation, bond pricing under the jump Vasicek model and high-dimensional option pricing model with default risk. The proposed numerical method has obtained satisfactory accuracy and efficiency. The method has important application value and practical significance in investment decision-making, option pricing, insurance and other fields.

Increasing distributed generation and intermittency, along with the increasing frequency of extreme weather events, impose a serious challenge for the electric power supply security. Understanding the costs of interruption is vital in terms of enhancing the power system infrastructure and planning the distribution grid. On the other hand, customer rights and demand response techniques are further reasons to study the worth of power reliability. In this paper, the authors make use of directional distance function and shadow pricing method for a case study from Finland. The aim is to calculate the cost of one minute of power interruption from the distribution network operator perspective. The sample consists of 78 distribution network operators from Finland with cost and network information between 2013 and 2015.

Efficient fixed crane position analysis is critical in precast buildings construction to maximize lifting efficiency for precast elements. The primary objective is to minimize the travel distances of fixed cranes, thereby enhancing operational efficiency and cost control. This involves strategically reducing the distances between the transport truck parking, where elements are stored, the fixed crane, and the construction installation point. Despite its significance, existing studies often overlook the dynamic movement efficiency of transport trucks, particularly when dealing with multiple transport trucks and various models of fixed cranes, rendering the opti-mization of this scenario a challenging NP-hard problem susceptible to combinatorial explosion. This study presents a novel mathematical model leveraging the Genetic Algorithm (GA). The model aims to solve optimal model and position of fixed cranes, along with identifying ideal positions for transport truck parking. The study's methodology is validated and demonstrated through a project case study. Comparative analyses between the proposed model and the original planning underscore a noteworthy 6% reduction in both duration and costs when lifting elements directly from transport trucks, as opposed to establishing an on-site stock yard. Furthermore, the developed GA exhibits a substantial improvement in final solutions, achieving a remarkable 30% reduction in both operational duration and costs. This research contributes valuable insights into fixed crane position analysis of precast building construction, providing foundation for enhanced operational efficiency and cost-effectiveness in the industry.

Leasing and recycling are important issues to achieve low-carbon sustainable development of construction machinery industry, however there are some dilemmas bothering which is caused by excessive restriction of product service life. Focusing on the problem of pricing and coordination, a two-stage model of leasing closed-loop supply chain based on the Industrial Internet platform practical application was proposed. Under the centralized and decentralized decision-making scenarios, the price of leasing and selling, maintenance effort and recovery rate are calculated respectively. By using the Shapley value method to optimize the selling price, and the two-part pricing contract to calculate the compensation fee, the global profit is reasonably distributed, while the supply chain achieving Pareto optimality. The performance of different contracts on the improvement of supply chain profit was investigated. And the correlation among parameters was also explored through sensitivity analysis and numerical simulation. The findings showed that maintenance and recycling of construction machinery can be improved with the advantage of the Industrial Internet platform, while achieving the supply chain coordination by contracts. The enhancement of maintenance effort can decrease the remanufacturing cost which is positively correlated to the selling price and leasing price of product, furthermore promoting the recovery rate of used products. In the future, reasonable control of platform cost can help improve the recycling of construction machinery.

Population events such as natural disasters, pandemics, extreme weather, and wars might cause jumps that have an immediate impact on mortality rates. The recent COVID-19 pandemic has demonstrated that these events should not be treated as nonrepetitive exogenous interventions. Therefore, mortality models incorporating jump effects are particularly important to capture the adverse mortality shocks. The mortality models with jumps, proposed by Cox. et al. , Chen and Cox , and Özen and Şahin , which we consider in this study, differ in terms of the duration of the jumps - transitory or permanent, frequency of the jumps, and size of the jumps. To illustrate the effect of jumps, we also consider benchmark mortality models without jump effects, such as the Lee-Carter , Renshaw and Haberman and the Cairns-Blake-Dowd models. We discuss the performance of all the models by analysing their ability to capture the mortality deterioration caused by COVID-19. We use data from different countries to simulate the mortality rates for the pandemic years and examine their accuracy in forecasting the mortality jumps due to the pandemic. Moreover, we also analyse the impact of mortality jump models on catastrophe bond pricing.

Service pricing is a bottleneck in the development of innovation services, as it is the issue of most concern between the suppliers and demanders. In this paper, a negotiation pricing model that is based on the multiobjective genetic algorithm is developed for innovation service pricing. Regarding the service pricing process as a multiobjective problem, the objective functions, which include the service price, service efficiency, and service quality, for suppliers and demanders are constructed. As the solution of a multiobjective problem is typically a series of alternatives, another negotiation process is necessary for determining the final decision. A learning strategy is adopted during the negotiation process to simulate reality. Finally, the model is implemented for an innovation service transaction, the objective of which is to identify the optimal price plan. The results demonstrate that the model can provide quantitative decision support for the pricing of an innovation service and ultimately yield a win-win result for both the supplier and demander of the innovation service. Furthermore, the influence of the parameters during the negotiation process is analyzed in detail. The effects of the learning strategy on accelerating the negotiation process, as well as the chosen of reasonable parameters are given.

Based on the Expected Utility Theory and Regret Theory, the Extended Regret Theory (ERT) is proposed in this paper to study the optimal pricing strategy of retailers in e-commerce environment. Taking the diversity of sales channels and the uncertainty of consumers in e-commerce environment into consideration, author of the paper designs an extended regret utility function which comprehensively considers both pessimistic and optimistic attitudes of decision makers in retailing industry to describe their regret-avoidance behavior. According to the sensitivity analysis, it is found that the optimal retail price decreases as the consumer price sensitivity coefficient increases, yet does not show variation with changes of the consumers pessimism degree. Moreover, the optimal retail price(s) obtained under EUT, ERT and combination of EUT and ERT represent the same.

Due to advancement in hacking/reverse engineering tools, threat against transfer of sensitive data or highly classified information is always at risk of being intercepted by an attacker. Covert communication outwit this malicious breach of privacy act better than cryptography as it camouflage secret information inside another innocent looking information, while cryptography shows scrambled information that might arouse attention of an attacker. However, the challenges in Steganography are the modification of carrier that causes some abnormalities, which is detectable and often the methods are not optimize. This paper presents an approach in Covert communication Chanel, which utilizes mathematical concept of combination to optimize time of transmission using sets of multiple transmitter’s, and receiver’s addresses where each abstractly represents a set of bits or characters combination without modifying the address. To minimize the number of physical address to be use, a combinatorial and permutation concept of virtual address generation from physical address is introduce. The paper in addition presents some technique like relationship and their application in both re-enforcing resistivity against Steganalysis and generating combinations. Furthermore, a concept of dynamical clockwise and anti-clockwise rotation of combination over addresses after every transmission is introduce to further improve on resistivity against Steganalysis. A simple test was performed for demonstrating relay address, combination and permutation concepts. Based on test results and analysis, the method is effective as expected and it is quite easy to use as it can be implemented in different platform without much difficulties.

In this paper we analyze and propose new method and algorithm of selecting the optimal labor time as a function of skills following our main references Mirrlees (1971), Saez (2001) and Stancheva (2014). The optimal labor time is a situation when the utility function of individual reaches a maximum. One of the main differences with Saez (2001) is our algorithm for creation the skill distribution

Autonomous navigation of spacecraft necessitates innovative technologies, methods, and algorithms, particularly when orbiting in proximity of other space objects. Optimization methods are useful for autonomous spacecraft navigation, guidance, and control, but their performance is hampered by noisy multi-sensor technologies and poorly modeled system equations, and real-time on-board utilization is generally computationally burdensome. Some proposed methods use noisy sensor data to learn the optimal guidance and control solutions real-time (online), where non-iterative instantiations are preferred to reduce computational burdens. This study aims to highlight efficacy and limitations of several common methods for optimizing guidance and control while proposing a few more, where all methods are applied to the full, nonlinear, coupled equations of motion including cross-products of motion from the transport theorem. Five disparate types of optimum guidance and control algorithms are presented and compared to a classical benchmark. Comparative analysis is based on tracking errors (both states and rates), fuel usage, and computational burden. Real-time optimalization with singular switching plus nonlinear transport theorem decoupling proves superior by matching open-loop solutions to the constrained optimization problem (in terms of state and rate errors and fuel usage), while robustness is validated in the utilization of mixed, noisy state and rate sensors and uniformly varying mass and mass moments of inertia. State tracking errors are reduced one-hundred ten percent. Rate tracking errors are reduced one-hundred thirteen percent. Control utilization (e.g., fuel) is reduced eighty four percent, while computational burden in reduced ten percent simultaneously.

This article introduces an innovative design method for public lighting systems that surpasses the limitations of conventional approaches, which rely on predefined lamp characteristics and spatial arrangement. By employing a multi-criteria decision algorithm, our study proposes an optimal design methodology considering several key aspects, including the distance between lamps, their type, power, and light distribution. The goal is to achieve optimal illumination that enhances visibility on public roads for drivers and pedestrians while simultaneously minimizing glare, installation costs and maximizing energy efficiency. The proposed methodology is implemented through an algorithm developed in Matlab, with results validated through simulations in Dialux. This information is used to construct a decision matrix, assessed using the CRITIC method across 180 different scenarios within a specific case study. The findings demonstrate the effectiveness of multi-criteria decision-making as a tool for significantly improving the planning and design of lighting in public illumination systems, allowing for selecting the optimal combination of parameters that ensure the best lighting conditions.

One of the major problem of photovoltaic grid integration is limiting the solar-induced imbalances since these can undermine the security and stability of the electrical system. Improving the forecast accuracy of photovoltaic generation is becoming essential to allow a massive solar penetration. In particular, improving the forecast accuracy of large solar farms generation is important both for the producers/traders to minimize the imbalance costs and for the Transmission System Operators to insure stability. In this article, we provide a benchmark for the day-ahead forecast accuracy of utility scale PV plants in 1325 locations spanning the country of Italy. We then use these benchmarked forecasts and real energy prices to compute the economic value of forecast accuracy and accuracy improvement in the context of the Italian energy market regulatory framework. Through this study, we further point out some several important criticisms of the Italian “single pricing” system that brings to paradoxical and counterproductive effects regarding the need to reduce the imbalance volumes. Finally, we propose a new market-pricing rule and innovative actions to overcome these undesired effects of the current dispatching regulations.

This article explores how digitalisation is impacting the hospitality industry and assesses the evolving role of Information Technology (IT) strategy in the digitalisation process. The research approach is qualitative and inductive, based on six in-depth interviews with senior IT professionals in the hospitality industry. Findings indicate significant differences in the role of IT strategy in guiding digitalisation in the companies studied. The depth of information provided by the interviewees supports the development and application of a model that profiles the companies regarding their degree of digitalisation and technology integration. Analysis of interview material allows the identification of key properties for successful digitalization: process agility, workforce adaptability, and technology manageability, along with a clear data culture and ensured cybersecurity. However, disparate systems and technologies, and a lack of data integrity, are key issues that leave hospitality companies with difficult choices in progressing digitalisation initiatives. The applied model and identification of key properties for successful digitalisation contribute to the development of related theory and can also be used as a reference point for senior IT professionals working in the industry.

Nodes in wireless sensor networks (WSN) are characterized particularly by their limited power and memory capabilities. Limited memory is an important parameter as it defines the size of the operating system and the processing code. As established previously, energy and memory efficiency is the most important evaluation factors of WSNs as they are directly related to data loss and network lifetime. However, based on our simulation results, memory efficiency determines the selection or abandon of nodes by the botmaster for the propagation of bots in an IoT infrastructure. Consequently, the node’s memory efficiency determined the spread of bots in the network and provides defense actors with an insight of the botmaster behavior for mitigation of the attack. Conventional botnet propagation and mitigation models did not consider the impact of node’s memory efficiency in the IoT platform. To address this gap, we build IoT-SIEF, a novel propagation model with forensic capability that will analyze command and control propagation behavior based on the perspective of the node’s memory efficiency. IoT-SIEF model used to explore the dynamics of propagation using numerical simulation with more than 50% outperform other models in mitigating the number of secondary bots. Consequently, it can serve as a basis for assisting the planning, design, and defense of such networks from the investigator's point of view.

Decision tree algorithms have been among the most popular algorithms for interpretable (transparent) machine learning since the early 1980s. On the other hand, deep learning methods have boosted the capacity of machine learning algorithms and are now being used for non-trivial applications in various applied domains. But training a fully-connected deep feed-forward network by gradient-descent backpropagation is slow and requires arbitrary choices regarding the number of hidden units and layers. In this paper, we propose near-optimal neural regression trees, intending to make it much faster than deep feed-forward networks and for which it is not essential to specify the number of hidden units in the hidden layers of the neural network in advance. The key idea is to construct a decision tree and then simulate the decision tree with a neural network. This work aims to build a mathematical formulation of neural trees and gain the complementary benefits of both sparse optimal decision trees and neural trees. We propose near-optimal sparse neural trees (NSNT) that is shown to be asymptotically consistent and robust in nature. Additionally, the proposed NSNT model obtain a fast rate of convergence which is near-optimal up to some logarithmic factor. We comprehensively benchmark the proposed method on a sample of 80 datasets (40 classification datasets and 40 regression datasets) from the UCI machine learning repository. We establish that the proposed method is likely to outperform the current state-of-the-art methods (random forest, XGBoost, optimal classification tree, and near-optimal nonlinear trees) for the majority of the datasets.

Upper confidence bound multi-armed bandit algorithms (UCB) typically rely on concentration in- equalities (such as Hoeffding’s inequality) for the creation of the upper confidence bound. Intu- itively, the tighter the bound is, the more likely the respective arm is or isn’t judged appropriately for selection. Hence we derive and utilise an optimal inequality. Usually the sample mean (and sometimes the sample variance) of previous rewards are the information which are used in the bounds which drive the algorithm, but intuitively the more infor- mation that taken from the previous rewards, the tighter the bound could be. Hence our inequality explicitly considers the values of each and every past reward into the upper bound expression which drives the method. We show how this UCB method fits into the broader scope of other information theoretic UCB algorithms, but unlike them is free from assumptions about the distribution of the data, We conclude by reporting some already established regret information, and give some numerical simulations to demonstrate the method’s effectiveness.

What are relevant levels of description when investigating human language? How are these levels connected to each other? Does one description yield smoothly into the next one such that different models lie naturally along a hierarchy containing each other? Or, instead, are there sharp transitions between one description and the next, such that to gain a little bit accuracy it is necessary to change our framework radically? Do different levels describe the same linguistic aspects with increasing (or decreasing) accuracy? Historically, answers to these questions were guided by intuition and resulted in subfields of study, from phonetics to syntax and semantics. Need for research at each level is acknowledged, but seldom are these different aspects brought together (with notable exceptions). Here we propose a methodology to inspect empirical corpora systematically, and to extract from them, blindly, relevant phenomenological scales and interactions between them. Our methodology is rigorously grounded in information theory, multi-objective optimization, and statistical physics. Salient levels of linguistic description are readily interpretable in terms of energies, entropies, phase transitions, or criticality. Our results suggest a critical point in the description of human language, indicating that several complementary models are simultaneously necessary (and unavoidable) to describe it.

Wind turbines (WTs) are clean a renewable energy source that has been growing in popularity in recent years. Gearboxes are complex, expensive, and critical components of WT, which are subject to high maintenance costs and several stresses including high loads and harsh environments that can lead to failure with significant downtime and financial losses. This paper focuses on the development of a digital twin-based approach for the modelling and simulation of WT gearboxes with the aim to improve their design, diagnosis, operation, and maintenance by providing insights into their behavior under different operating conditions. Pow-erful commercial computer-aided design tools (CAD) and computer-aided engineering (CAE) software are embedded into a computationally efficient multi-objective optimization framework (modeFrontier) with the aim of maximizing the power density, compactness, performance, and reliability of the WT gearbox. This entails minimizing its weight, volume, and maximum stresses and strains achieved without compromising efficiency. The 3D CAD model of the WT gearbox is carried out using SolidWorks, the Finite Element Analysis (FEA) to obtain the stresses and strains fields are modelled using Ansys Workbench, while the multibody kinematic and dynamic system is analyzed using MSC Adams. The method has been successfully applied to different case studies to find the optimal design and analyze the performance of the WT gearboxes. Simulation results can be used to identify potential failure modes and optimize gearbox design to improve performance, extend service life and relia-bility, thereby ensuring proper operation over its lifetime and reducing maintenance costs.

Ethanolic extracts of propolis collected from Apis mellifera hives have been shown to reduce Nosema ceranae infection in honey bee workers. This study aimed to determine the propolis concentration that optimizes the control of N. ceranae infection in honey bee workers. Newly emerged worker bees were individually fed 2 μL of 50% sucrose solution (w/v) containing 105 N. ceranae spores per bee, and treated with 0%, 25%, 50%, and 75% ethanolic extracted propolis in 50% sucrose solution (v/v). The treated bees were maintained in cages at 34 ± 2˚C and 55 ± 5% RH throughout the study. The number of dead bees was counted and removed from the cages daily for 30 days to generate survival curves. The number of N. ceranae spores per bee (infectivity) was quantified using a hemocytometer, and the number of infected bees per hundred bees (infection rate) was determined. The survival rates of N. ceranae infected bees fed 25%, 50%, and 75% propolis (NP1, NP2, NP3, respectively) were significantly higher than those of infected bees not fed propolis (NO). Furthermore, the infectivity and infection rates of NP2 and NP3 groups were significantly lower than those of the NO group. The infectivity and infection rates of the NP1 group were not different than those of the NO group. Our data suggest that 50% and 75% propolis extracts are appropriate concentrations for treating N. ceranae infection in honey bees. Ethanolic extracted propolis can be an alternative treatment for N. ceranae infection in Western honey bees.

Type two diabetes mellitus (T2DM) represents a chronic condition with increasing prevalence worldwide among the older population. T2DM condition increases the risk of micro and macro-vascular complications as well as the risk of geriatric syndromes as falls, fractures and cognitive impairment. The management of T2DM in the older population represents a challenge for the cli-nician, and a Comprehensive Geriatric Assessment should always be prioritized, in order to tailor the glycate haemoglobin target according to functional and cognitive status comorbidities, life ex-pectancy and type of therapy. According to the most recent guidelines, older adults with T2DM should be cathegorized in three groups: healthy patients with good functional status, patients with complications and reduced functionality and patients at the end of life; for each group the target for the glycemic control is different, also according to the type of treatment drug. The therapeutic ap-proach should always begin with lifestyle changes; after that, several lines of therapies are available, with different mechanism of action and potential effect other than glucose level reduction. Partic-ular interest is growing around sodium-glucose cotransporter-2 inhibitors, due to their effect on the cardiovascular system. In this review we evaluate the therapeutic options available for the treat-ment of older diabetic patients, to ensure a correct treatment approach

Noise reduction is the major issue in the loudspeaker for the application of the musical instruments and related areas. In this paper, a noise disturbance control of a loudspeaker with optimal and robust controllers has been done successfully. The noise of the loudspeaker has been analyzed by simply track a reference cone displacement with the actual cone displacement. Static output feedback and H infinity optimal loop shaping controllers have been used to compare the actual and reference cone displacements by using a sine wave and random cone displacement signals and a promising results have been analyzed.

Currently, maritime traffic is increasing with economic growth in several regions worldwide. However, this growth in maritime traffic has led to increased risk of marine accidents. These accidents have a higher probability of occurring in regions where geographical features, such as islands, are present. Further, the positioning of rescue ships in a particular ocean region with a high level of maritime activity is critical for rescue operations. This paper proposes a method for determining an optimal set of locations for stationing rescue ships in an ocean region with numerous accident sites in the Wando islands of South Korea. The computational challenge in this problem is identified as the positioning of numerous islands of varying sizes located in the region. Thus, the proposed method combines a clustering-based optimization method and an image processing approach that incorporates flood filling to calculate the shortest distance between two points in the ocean that detours around the islands. Experimental results indicate that the proposed method reduces the distance from rescue ships and each accident site by 5.0 km compared to the original rescue ship locations. Thus, rescue time is reduced.

Proposed study aims to investigate the digital transformation of Greek small and medium enterprises (SMEs), with a particular focus on their digital maturity and the strategic and organizational factors contributing to digital transformation. The research issue of digital transformation is attracting considerable interest among academics and business practicians since COVID-19 accelerated the procedure of implementing Industry’s 4.0 principles all over global economies. Quantitative research on 147 Greek SMEs revealed most important issues on how these businesses implement digital transformation, factors accelerating or decelerating the process, barriers and expected outcomes. Research enlights how SMEs face the transition to digital business and reveals the factors that can facilitate the whole process. Results can be valuable for stakeholders enabled to digital transformation process from both business and academic point of view, while there exist aspects that can contribute to policy makers / motivation developers in state’s level as well.

World Health Organization (WHO) has announced the monkeypox (MPX) epidemic a global public health emergency due to its re-emergence, remarkable increase in the number of MPX cases worldwide, and its potential spread. This paper introduces the symptoms, complications, and features of MPX; its transmission, diagnosis and testing, vaccines and treatment; MPX and sexually transmitted diseases, especially the human immunodeficiency virus (HIV); possible natural hosts or reservoirs of the monkeypox virus (MPXV). A useful tool for MPX and surgical safety recommendations are presented. The challenges in fighting the MPX epidemic, One Health strategy, and future research are discussed.

Climate change, biodiversity loss, and other social and environmental problems pose grave risks. Progress so far has been incremental and insufficient, and as a result scientists, global policy experts, and the general public increasingly conclude that bold change is required across all sectors of society. At least two kinds of bold change are conceivable: reform of existing societal systems (e.g., financial, economic, legal, and governance systems), including their institutions, policies, rules, and priorities; and transformation, understood as the de novo development of and migration to new, improved systems. This paper is the second in a series of three that together propose a novel science-driven research and development program aimed at societal transformation. Moreover, the series advances a conceptual framework and formal mechanics by which societal transformation might be approached. Two of the underlying hypotheses are that new societal systems can be developed in a science-driven process to be fit for purpose, and system fitness can be compared across designs. Societies are viewed as superorganisms, and systems are viewed as a societal cognitive architecture. The first paper in the series provides definitions, aims, hypotheses, and a worldview. This paper discusses motivations, the role of science in societal transformation, a theory of change, and fitness metrics. The proposed R&amp;D program and theory of change are sound, viable, and affordable. The local-global-viral strategy invites the global science community to play a unique co-leadership role with local communities in the development, testing, and monitoring of new societal systems. Systems are implemented via a novel civic club model, where participation is voluntary. Clubs grow and replicate based on merit and aided by club networks, whose systems are also viewed as societal cognitive architectures. Benefits of the program and strategy are discussed.

Maritime data not only identify financial resources that can significantly enhance the efficiency of shipping companies but also play a pivotal role in promoting eco-friendly and sustainable shipping practices. However, active corporate strategies are required to include maritime data essential for the commercial operation of autonomous ships in the form of corporate assets by transparent evaluating the data. The aim of this study is to review previous studies on da-ta-valuation models, identify a valuation model suitable for maritime business, consider the characteristics of maritime data. The analytic hierarchy process (AHP) method is used to derive priorities for valuing maritime data assets, with emphasis placed on the characteristics of mari-time data, followed by the character of the future-oriented maritime-data market and the da-ta-valuation model. The results obtained that the most important factors in selecting a maritime data-valuation model by analyzing the AHP method were identified as the characteristics of the maritime data(M1). The next most important factors analyzed were the features of the mari-time-data market(M2) and the features of the maritime data-valuation model(M3) in order. In addition, the characteristics of maritime data were preferentially considered among the main criteria, and the market approach (A2) was selected as the most optimal valuation model. The potential impact of this implementation could contribute to the establishment of an intelligent technology market by estimating the value of data and developing a platform for maritime data trading, allowing for more efficient data sharing and utilization by maritime autonomous sur-face ship(MASS).

In this paper, we investigate a financial market in which asset prices evolve based on a multi-dimensional Brownian motion process and a multi-dimensional Poisson process with different credit and deposit rates We proceed to evaluate European options by establishing upper and lower hedging prices through a transition to a suitable auxiliary market. Additionally, we address the minimization of shortfall risk and no-arbitrage price bounds in incomplete markets within this framework.

Despite providing some critical financial services to support the operation of Emissions Trading Systems (ETS), such as increasing market liquidity and price visibility and allowing operators to hedge against future fluctuations, there is growing concern about the potential threat of financial actors' speculation behaviour to the ETS's effectiveness. To confirm or alleviate the fear associated with such concern, we employ both ex-post and ex-ante approaches to determine the role of speculation in the emission reduction effect of the ETS and its forecasting power in predicting climate change. In addition to confirming carbon prices and the speculation behaviour of the emissions non-compliance actors in the ETS as accurate predictors of climate change, we also show that they both matter in the emission reduction effect of the ETS. We use several verifiable econometric approaches to select the Feasible Quasi Generalised Least Squares (FQGLS) as the best estimator for addressing some of the biases in climate change predictability. We demonstrate that a predictive model combining the complementing dynamics of the EST emissions compliance and emissions non-compliance features forecasts climate change more accurately. We demonstrate the robustness of our findings for both in-sample and out-of-sample forecasts and across different forecast horizons by using alternative approaches to evaluate forecast performance.

Ridesharing effectively tackles urban mobility challenges by providing a service comparable to private vehicles while minimising resource usage. Our research primarily concentrates on dynamic ridesharing, which conventionally involves connecting drivers with passengers in need of transportation. The process of one-to-one matching presents a complex challenge, particularly when addressing it on a large scale, as the substantial number of potential matches make the attainment of a global optimum a challenging endeavour. This paper aims to address the absence of an optimal approach for dynamic ridesharing by refraining from conventional heuristic-based methods, commonly used to achieve timely solutions in large-scale ride-matching. We propose a novel approach that provides snapshot optimal solutions for various forms of one-to-one matching, ensuring they are generated within an acceptable timeframe for service providers. Additionally, we introduce and solve a new variant where the system itself provides the vehicles. The efficacy of our methodology is substantiated through experiments carried out with real-world data extracted from the openly available New York City taxicab dataset.

Pharmacogenomics (PGx) is the study of how variations of the patient genetic makeup could influence the selection and dosing of medications, including urate-lowering therapies (ULTs). Patients with gout present with several comorbidities, warranting the use of several long-term medications that increase their pill burden and the risk of adverse drug events. PGx testing can identify individuals who are more or less likely to benefit from a given treatment and ultimately improve adherence and reduce polypharmacy. Gout management involves using various ULTs associated with specific genetic variations that could modulate medication safety and efficacy. Individuals carrying the HLA-B*58:01 variant are at a higher risk of serious and life-threatening skin reactions from taking allopurinol. Besides, racial disparities in HLA-B distribution warrant testing for its status in high-risk populations, specifically some Asian subgroups and African Americans. G6PD-deficient individuals are prone to develop hemolytic anemia and methemoglobinemia with pegloticase and probenecid use. Patients with the less active form of the drug-metabolizing CYP2C9 are at higher risk for NSAID-related upper gastrointestinal (GI) bleeding. The drug-gene pair interactions among various gout therapies were also reviewed. Allopurinol-related genes included AOX, ABCG2, and SLC22A12. Febuxostat-related genes included UGT1A1. Benzbromarone- and probenecid- related genes included SLC22A12 and ABCB1. Colchicine-related genes included CYP2D6, ABCB1, rs6916345 G>A, and SEPHS1. Finally, the corticosteroid-related gene included HCG22; and the anakinra-related gene included IL1RA. This review synthesizes the most contemporary level of evidence for using PGx in gout pharmacotherapy, as referenced in the CPIC guidelines, FDA, PharmGKB, and current literature.

Fish schooling implies an awareness of the swimmers for their companions. In flow mediated environments, in addition to visual cues, pressure and shear sensors on the fish body are critical for providing quantitative information that assists the quantification of proximity to other swimmers. Here we examine the distribution of sensors on the surface of an artificial swimmer so that it can optimally identify a leading group of swimmers. We employ Bayesian experimental design coupled with two-dimensional Navier Stokes equations for multiple self-propelled swimmers. The follower tracks the school using information from its own surface pressure and shear stress. We demonstrate that the optimal sensor distribution of the follower is qualitatively similar to the distribution of neuromasts on fish. Our results show that it is possible to identify accurately the center of mass and even the number of the leading swimmers using surface only information.

Our study essentially concerns the dynamic behavior of an SIRS epidemic model in discrete time. Two equilibrium points are obtained; one is disease-free while the other is endemic. We are interested in the endemic fixed point as well as its asymptotic stability. Depending on the parameters which are estimated using the data from US Department of health and SIRS modelling with optimization, two Flip and Transcritical bifurcations appear. We illustrate their diagrams, as well as their bifurcation curves using the method of Carcasses \cite{carcasses1993determination,carcasses1995singularities} for the Flip bifurcation and by an implicit function deduced from such an equation for the Transcritical bifurcation. We use the scanning of the parametric plane to have a global view of the behavior of the model and to highlight the zones of stability of the existing singularities. A superposition of the bifurcation curves with the parametric plane can show the overlap of the curves with the boundaries of the stability domains, which confirms the smooth running of the simulation and its correspondence with the theory, we finish this article with constrained optimal control applied to infection rate and recruitment rate for an SIRS discrete epidemic model. Pontryagin's maximum principle is used to determine these optimal controls. Finally using COVID-19 data in the USA, we obtain results that demonstrate the effectiveness of the proposed control strategy to mitigate the spread of the pandemic.

This paper describes the optimal design of a miniature fiber-optic linear displacement sensor. It is characterized by its ability to measure displacements along a millimetric range with sub-micrometric resolution. The sensor consists of a triangular reflective grating and two fiber-optic probes. The measurement principle of the sensor is presented. The design of the sensor's triangular grating has been geometrically optimized by considering the step angle of the grating to enhance the sensor's resolution. The optimization method revealed a global optimum at which the highest resolution is obtained

Since its introduction almost 50 years ago, the concept of ‘flow’ has been descriptive of optimal experiences, also in relation to play. However, the explorative nature of play leads to some discrepancies between flow and the optimal experience of play. In this paper the differences between flow and play are explored, leading to proposing the state of ‘wonder’ (directed at exploration) as an alternative to ‘flow’. From this perspective, the study further explores how we may design toys that enable meaningful experiences of play, identifying opportunities in designing for toys as the enablers of immersed experiences of wonder.

This paper presents findings of a study on continuous feed-in management and continuous synthetic inertia contribution with wind turbines. A realistic case study, based on real measurements, is outlined. A wind turbine feeds into a weak feeder, such that its power has to be adapted to the permissible loading of this feeder. At the same time the wind turbine is to provide inertia to the grid by applying the previously published variable inertia constant controller. It is discussed that optimal grid utilisation and simultaneous inertia contribution are mandatory for the frequency control in power systems that are heavily penetrated with renewable energies. The study shows that continuous feed-in management can be combined well with continuous inertia provision. There are hardly any negative consequences for the wind turbine. The benefits for the grid are convincing, both in terms of increased system utilisation and in terms of provided inertia. It is concluded that wind turbines can enhance angular stability in a power system to a larger extent than conventional power plants.