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1 – 5 of 5Feng Yao, Qinling Lu, Yiguo Sun and Junsen Zhang
The authors propose to estimate a varying coefficient panel data model with different smoothing variables and fixed effects using a two-step approach. The pilot step estimates the…
Abstract
The authors propose to estimate a varying coefficient panel data model with different smoothing variables and fixed effects using a two-step approach. The pilot step estimates the varying coefficients by a series method. We then use the pilot estimates to perform a one-step backfitting through local linear kernel smoothing, which is shown to be oracle efficient in the sense of being asymptotically equivalent to the estimate knowing the other components of the varying coefficients. In both steps, the authors remove the fixed effects through properly constructed weights. The authors obtain the asymptotic properties of both the pilot and efficient estimators. The Monte Carlo simulations show that the proposed estimator performs well. The authors illustrate their applicability by estimating a varying coefficient production frontier using a panel data, without assuming distributions of the efficiency and error terms.
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Chuanmin Mi, Xiaoyi Gou, Yating Ren, Bo Zeng, Jamshed Khalid and Yuhuan Ma
Accurate prediction of seasonal power consumption trends with impact disturbances provides a scientific basis for the flexible balance of the long timescale power system…
Abstract
Purpose
Accurate prediction of seasonal power consumption trends with impact disturbances provides a scientific basis for the flexible balance of the long timescale power system. Consequently, it fosters reasonable scheduling plans, ensuring the safety of the system and improving the economic dispatching efficiency of the power system.
Design/methodology/approach
First, a new seasonal grey buffer operator in the longitudinal and transverse dimensional perspectives is designed. Then, a new seasonal grey modeling approach that integrates the new operator, full real domain fractional order accumulation generation technique, grey prediction modeling tool and fruit fly optimization algorithm is proposed. Moreover, the rationality, scientificity and superiority of the new approach are verified by designing 24 seasonal electricity consumption forecasting approaches, incorporating case study and amalgamating qualitative and quantitative research.
Findings
Compared with other comparative models, the new approach has superior mean absolute percentage error and mean absolute error. Furthermore, the research results show that the new method provides a scientific and effective mathematical method for solving the seasonal trend power consumption forecasting modeling with impact disturbance.
Originality/value
Considering the development trend of longitudinal and transverse dimensions of seasonal data with impact disturbance and the differences in each stage, a new grey buffer operator is constructed, and a new seasonal grey modeling approach with multi-method fusion is proposed to solve the seasonal power consumption forecasting problem.
Highlights
The highlights of the paper are as follows:
A new seasonal grey buffer operator is constructed.
The impact of shock perturbations on seasonal data trends is effectively mitigated.
A novel seasonal grey forecasting approach with multi-method fusion is proposed.
Seasonal electricity consumption is successfully predicted by the novel approach.
The way to adjust China's power system flexibility in the future is analyzed.
A new seasonal grey buffer operator is constructed.
The impact of shock perturbations on seasonal data trends is effectively mitigated.
A novel seasonal grey forecasting approach with multi-method fusion is proposed.
Seasonal electricity consumption is successfully predicted by the novel approach.
The way to adjust China's power system flexibility in the future is analyzed.
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Felipe Sales Nogueira, João Luiz Junho Pereira and Sebastião Simões Cunha Jr
This study aims to apply for the first time in literature a new multi-objective sensor selection and placement optimization methodology based on the multi-objective Lichtenberg…
Abstract
Purpose
This study aims to apply for the first time in literature a new multi-objective sensor selection and placement optimization methodology based on the multi-objective Lichtenberg algorithm and test the sensors' configuration found in a delamination identification case study.
Design/methodology/approach
This work aims to study the damage identification in an aircraft wing using the Lichtenberg and multi-objective Lichtenberg algorithms. The former is used to identify damages, while the last is associated with feature selection techniques to perform the first sensor placement optimization (SPO) methodology with variable sensor number. It is applied aiming for the largest amount of information about using the most used modal metrics in the literature and the smallest sensor number at the same time.
Findings
The proposed method was not only able to find a sensor configuration for each sensor number and modal metric but also found one that had full accuracy in identifying delamination location and severity considering triaxial modal displacements and minimal sensor number for all wing sections.
Originality/value
This study demonstrates for the first time in the literature how the most used modal metrics vary with the sensor number for an aircraft wing using a new multi-objective sensor selection and placement optimization methodology based on the multi-objective Lichtenberg algorithm.
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Nisha, Neha Puri, Namita Rajput and Harjit Singh
The purpose of this study is to analyse and compile the literature on various option pricing models (OPM) or methodologies. The report highlights the gaps in the existing…
Abstract
Purpose
The purpose of this study is to analyse and compile the literature on various option pricing models (OPM) or methodologies. The report highlights the gaps in the existing literature review and builds recommendations for potential scholars interested in the subject area.
Design/methodology/approach
In this study, the researchers used a systematic literature review procedure to collect data from Scopus. Bibliometric and structured network analyses were used to examine the bibliometric properties of 864 research documents.
Findings
As per the findings of the study, publication in the field has been increasing at a rate of 6% on average. This study also includes a list of the most influential and productive researchers, frequently used keywords and primary publications in this subject area. In particular, Thematic map and Sankey’s diagram for conceptual structure and for intellectual structure co-citation analysis and bibliographic coupling were used.
Research limitations/implications
Based on the conclusion presented in this paper, there are several potential implications for research, practice and society.
Practical implications
This study provides useful insights for future research in the area of OPM in financial derivatives. Researchers can focus on impactful authors, significant work and productive countries and identify potential collaborators. The study also highlights the commonly used OPMs and emerging themes like machine learning and deep neural network models, which can inform practitioners about new developments in the field and guide the development of new models to address existing limitations.
Social implications
The accurate pricing of financial derivatives has significant implications for society, as it can impact the stability of financial markets and the wider economy. The findings of this study, which identify the most commonly used OPMs and emerging themes, can help improve the accuracy of pricing and risk management in the financial derivatives sector, which can ultimately benefit society as a whole.
Originality/value
It is possibly the initial effort to consolidate the literature on calibration on option price by evaluating and analysing alternative OPM applied by researchers to guide future research in the right direction.
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