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Article
Publication date: 1 May 1999

Masako Niwa, Mari Inoue and Sueo Kawabata

The purpose of this study is to investigate an objective method of evaluating the tactile comfort of blankets by a method of connecting the mechanical parameters of blankets to…

Abstract

The purpose of this study is to investigate an objective method of evaluating the tactile comfort of blankets by a method of connecting the mechanical parameters of blankets to subjective evaluation. The two methods are preliminarily investigated as follows: (1) Transformation equations for the fabric hand of suiting, KN‐101‐W for primary hand values and KN‐301‐W for THV, are applied, with the mean and standard deviation applied to these equations replaced with new values for the blanket population. (2) A new prediction equation is constructed for deriving THV directly from the mechanical parameters and thermal properties. The prediction accuracy of method (2) is a little higher than that of (1). The durability of blankets during repeated use and repeated dry cleaning determined by the initial performance of blankets is also investigated.

Details

International Journal of Clothing Science and Technology, vol. 11 no. 2/3
Type: Research Article
ISSN: 0955-6222

Keywords

Article
Publication date: 4 July 2016

Stanislaw Osowski, Krzysztof Siwek and Tomasz Grzywacz

The paper is concerned with exploration of sensor signals in differential electronic nose. It is a special type of nose, which applies double sensor matrices and exploits only…

Abstract

Purpose

The paper is concerned with exploration of sensor signals in differential electronic nose. It is a special type of nose, which applies double sensor matrices and exploits only their differential signals, which are used in recognition of patterns associated with them. The purpose of this paper is to study the application of differential nose in dynamic measurement of aroma of 11 brands of cigarettes.

Design/methodology/approach

The most important task in pattern recognition using electronic nose is its resistance to the noise corrupting the measurement. The authors will analyze and compare the performance of the nose in the noisy environment by applying two classifier systems: the support vector machine (SVM) and random forest (RF) of decision trees.

Findings

On the basis of numerical experiments the authors have found that application of SVM as the classifier in the electronic nose is more advantageous than RF, especially at high level of noise and small number of measuring sensors. Its application allowed to recognize 11 brands of cigarettes with the accuracy close to 100 percent.

Practical implications

Thanks to application of two identical sensors working in a differential mode the authors avoid the baseline estimation and thus the solution is well suited for on-line dynamic measurements of the process.

Originality/value

The paper has studied the advantages and limitations of the differential electronic nose following from the existence of the noise, corrupting the measurements. It has pointed an important role of the applied classifier system in getting the electronic nose of the highest quality.

Details

COMPEL: The International Journal for Computation and Mathematics in Electrical and Electronic Engineering, vol. 35 no. 4
Type: Research Article
ISSN: 0332-1649

Keywords

Article
Publication date: 15 January 2024

Shalini Velappan

This study aims to investigate the co-volatility patterns between cryptocurrencies and conventional asset classes across global markets, encompassing 26 global indices ranging…

Abstract

Purpose

This study aims to investigate the co-volatility patterns between cryptocurrencies and conventional asset classes across global markets, encompassing 26 global indices ranging from equities, commodities, real estate, currencies and bonds.

Design/methodology/approach

It used a multivariate factor stochastic volatility model to capture the dynamic changes in covariance and volatility correlation, thus offering empirical insights into the co-volatility dynamics. Unlike conventional research on price or return transmission, this study directly models the time-varying covariance and volatility correlation.

Findings

The study uncovers pronounced co-volatility movements between cryptocurrencies and specific indices such as GSCI Energy, GSCI Commodity, Dow Jones 1 month forward and U.S. 10-year TIPS. Notably, these movements surpass those observed with precious metals, industrial metals and global equity indices across various regions. Interestingly, except for Japan, equity indices in the USA, Canada, Australia, France, Germany, India and China exhibit a co-volatility movement. These findings challenge the existing literature on cryptocurrencies and provide intriguing evidence regarding their co-volatility dynamics.

Originality

This study significantly contributes to applying asset pricing models in cryptocurrency markets by explicitly addressing price and volatility dynamics aspects. Using the stochastic volatility model, the research adding methodological contribution effectively captures cryptocurrency volatility's inherent fluctuations and time-varying nature. While previous literature has primarily focused on bitcoin and a few other cryptocurrencies, this study examines the stochastic volatility properties of a wide range of cryptocurrency indices. Furthermore, the study expands its scope by examining global asset markets, allowing for a comprehensive analysis considering the broader context in which cryptocurrencies operate. It bridges the gap between traditional asset pricing models and the unique characteristics of cryptocurrencies.

Details

Studies in Economics and Finance, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 1086-7376

Keywords

Book part
Publication date: 27 January 2022

Nicolás Cachanosky

This chapter uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different…

Abstract

This chapter uses Austrian capital theory to illustrate why empirical work can be elusive in typical Austrian themes. It explores the nature of the problem and different alternative solutions to empirical challenges. This chapter also discusses the Austrian literature’s epistemological approach to empirical work to shed light on the controversial relationship between Austrian theory and empirical testing. Finally, this chapter offers examples of how Austrian and mainstream economics can find a common empirical ground.

Details

Contemporary Methods and Austrian Economics
Type: Book
ISBN: 978-1-80262-287-4

Keywords

Book part
Publication date: 18 July 2022

Priti Rani Rajvanshi, Taranjeet Singh, Deepa Gupta and Mukul Gupta

Introduction: The frequency and complexity of cyber assaults have grown in recent years. Consequently, organisations have increased their expenditures in more robust…

Abstract

Introduction: The frequency and complexity of cyber assaults have grown in recent years. Consequently, organisations have increased their expenditures in more robust infrastructure to protect themselves from these cyber assaults. These organisations’ assets, data, and reputations are at risk due to rapidly increasing cybercrimes. However, complete protection from these many and ever-changing threats is very challenging as a result. To deal with them, companies are taking steps to reduce risks and limit company losses in their occurrence.

Purpose: Progressively, the insurance sector organisations are including digital protection as a component of the board’s general danger technique. Protection enterprises, then again, depend on accurately expecting risks, while a significant number of them depend on normalised approaches. Because of the exceptional attributes of the digital assaults, transporters now and again depend on subjective strategies dependent on master decisions. There is an unmistakeable absence of observational information on digital protection, specifically subjective examinations planning to comprehend and depict necessities, impediments, and cycles applicable for digital protection.

Methodology: There are various unanswered inquiries and worries about the oversight and legitimate and administrative assessment of network safety weaknesses in the protection business. In the wake-up of looking over all these worries and issues, steps to alleviate them are laid out after an extensive literature survey and secondary data sources. In this study, the authors have principally viewed the executive parts of the associations as the danger. While considering network protection, their insight of needs was taken as one among a few dangerous treatment systems, just as the necessities of the organisations’ protection in assessing the danger level of likely customers.

Findings: This section analyses past research in network safety and information security in the protection market. The danger of the executives’ strategies, the numerical models, and the forecasts of digital occassions are illustrated in this section. Lastly, the future headings are likewise expressed momentarily.

Practical implications: This review might be valuable for additional examination and logical discussion, yet additionally for down-to-earth applications. Moreover, it could be gainful to organisations as a supportive instrument for better agreement on what digital protection is and how to get ready to take on network safety and information security procedures in the association.

Significance: These associations’ resources, information, and notoriety are in danger because of quickly expanding cybercrimes. Cybercriminals are utilising more refined approaches to start digital assaults. Digital protection was anticipated to affect security conduct before any proof was gathered. Progressively, organisations are including digital protection as a feature of their general danger to the executive system. Because of the exceptional attributes of the digital assaults, transporters as often as possible depend on subjective methods dependent on master decisions. Thus, this space of network safety and information security is vital uniquely in the protection market.

Details

Big Data Analytics in the Insurance Market
Type: Book
ISBN: 978-1-80262-638-4

Keywords

Open Access
Article
Publication date: 4 December 2020

Sudip Patra and Partha Ghose

The current paper is a brief review of the emerging field of quantum-like modelling in game theory. This paper aims to explore several quantum games, which are superior compared…

Abstract

Purpose

The current paper is a brief review of the emerging field of quantum-like modelling in game theory. This paper aims to explore several quantum games, which are superior compared to their classical counterparts, which means either they give rise to superior Nash equilibria or they make the game fairer. For example, quantum Prisoners Dilemma generates Pareto superior outcomes as compared to defection outcome in the famous classical case. Again, a quantum-like version of cards game can make the game fairer, increasing the chance of winning of players who are disadvantaged in the classical case. This paper explores all the virtues of simple quantum games, also highlighting some findings of the authors as regards Prisoners Dilemma game.

Design/methodology/approach

As this is a general review paper, the authors have not demonstrated any specific mathematical method, rather explored the well-known quantum probability framework, used for designing quantum games. They have a short appendix which explores basic structure of Hilbert space representation of human decision-making.

Findings

Along with the review of the extant literature, the authors have also highlighted some new findings for quantum Prisoners Dilemma game. Specifically, they have shown in the earlier studies (which are referred to here) that a pure quantum entanglement set up is not needed for designing better games, even a weaker condition, which is classical entanglement is sufficient for producing Pareto improved outcomes.

Research limitations/implications

Theoretical research, with findings and implications for future game designs, it has been argued that it is not always needed to have true quantum entanglement for superior Nash Equilibria.

Originality/value

The main purpose here is to raise awareness mainly in the social science community about the possible applications of quantum-like game theory paradigm. The findings related to Prisoners Dilemma game are, however, original.

Article
Publication date: 15 June 2018

Cássio da Nóbrega Besarria, Nelson Leitão Paes and Marcelo Eduardo Alves Silva

Housing prices in Brazil have displayed an impressive growth in recent years, raising some concerns about the existence of a bubble in housing markets. In this paper, the authors…

Abstract

Purpose

Housing prices in Brazil have displayed an impressive growth in recent years, raising some concerns about the existence of a bubble in housing markets. In this paper, the authors implement an empirical methodology to identify whether or not there is a bubble in housing markets in Brazil.

Design/methodology/approach

Based on a theoretical model that establish that, in the absence of a bubble, a long-run equilibrium relationship should be observed between the market price of an asset and its dividends. The authors implement two methodologies. First, the authors assess whether there is a cointegration relationship between housing prices and housing rental prices. Second, the authors test whether the price-to-rent ratio is stationary.

Findings

The authors’ results show that there is evidence of a bubble in housing prices in Brazil. However, given the short span of the data, the authors perform a Monte Carlo simulation and show that the cointegration tests may be biased in small samples. Therefore, the authors should be caution when assessing the results.

Research limitations/implications

The results obtained from the cointegration analysis can be biased for small samples.

Practical implications

The information on the excessive increase of the prices of the properties in relation to their fundamental value can help in the decision-making on investment of the economic agents.

Social implications

These results corroborate the hypothesis that Brazil has an excessive appreciation in housing prices, and, as Silva and Besarria (2018) have suggested, this behavior explains, in part, the fact that the central bank has taken this issue into account when deciding about the stance of monetary policy of Brazil.

Originality/value

The originality is linked to the use of the Gregory-Hansen method of cointegration in the identification of bubbles and discussion of the limitations of the research through Monte Carlo simulation.

Details

International Journal of Housing Markets and Analysis, vol. 11 no. 5
Type: Research Article
ISSN: 1753-8270

Keywords

Open Access
Article
Publication date: 26 November 2020

Bernadette Bouchon-Meunier and Giulianella Coletti

The paper is dedicated to the analysis of fuzzy similarity measures in uncertainty analysis in general, and in economic decision-making in particular. The purpose of this paper is…

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Abstract

Purpose

The paper is dedicated to the analysis of fuzzy similarity measures in uncertainty analysis in general, and in economic decision-making in particular. The purpose of this paper is to explain how a similarity measure can be chosen to quantify a qualitative description of similarities provided by experts of a given domain, in the case where the objects to compare are described through imprecise or linguistic attribute values represented by fuzzy sets. The case of qualitative dissimilarities is also addressed and the particular case of their representation by distances is presented.

Design/methodology/approach

The approach is based on measurement theory, following Tversky’s well-known paradigm.

Findings

A list of axioms which may or may not be satisfied by a qualitative comparative similarity between fuzzy objects is proposed, as extensions of axioms satisfied by similarities between crisp objects. They enable to express necessary and sufficient conditions for a numerical similarity measure to represent a comparative similarity between fuzzy objects. The representation of comparative dissimilarities is also addressed by means of specific functions depending on the distance between attribute values.

Originality/value

Examples of functions satisfying certain axioms to represent comparative similarities are given. They are based on the choice of operators to compute intersection, union and difference of fuzzy sets. A simple application of this methodology to economy is given, to show how a measure of similarity can be chosen to represent intuitive similarities expressed by an economist by means of a quantitative measure easily calculable. More detailed and formal results are given in Coletti and Bouchon-Meunier (2020) for similarities and Coletti et al. (2020) for dissimilarities.

Details

Asian Journal of Economics and Banking, vol. 4 no. 3
Type: Research Article
ISSN: 2615-9821

Keywords

Article
Publication date: 29 November 2018

Luiz Paulo Lopes Fávero, Ricardo Goulart Serra, Marco Aurélio dos Santos and Eduardo Brunaldi

The purpose of this paper is to analyze the influence of firm-, industry- and country-level determinants on real annual sales growth in the context of a cross-classified…

Abstract

Purpose

The purpose of this paper is to analyze the influence of firm-, industry- and country-level determinants on real annual sales growth in the context of a cross-classified multilevel perspective.

Design/methodology/approach

The authors studied 11,381 firms from 17 industries in six Latin American countries based on the data collected up to 2015. Since the data are nested in two levels (level 1: firms; level 2: cross-classification of industries and countries), the authors use a cross-classified multilevel model. The significant variability in all levels of analysis confirms the option for the multilevel model.

Findings

Differences in industries account for the largest proportion of variance (77.2 percent). This finding indicates that industry-level characteristics should be explored in the sales growth literature (it seems to the authors that they were neglected). This finding also calls attention to the roles of policy-makers in facilitating firm growth. The final model indicates that the considered variables explain approximately 55 percent of the differences in real annual sales growth in the same industry and country after having accounted for the impacts of the differences in firms. After accounting for the impacts of the differences in firms’ and countries’ characteristics, 43 percent of the variation in average real annual sales growth is due to differences in industries. The obtained results indicate that while firms from countries with higher GDP growth and more effective corporate boards present higher real annual sales growth, firms that operate in commodity producer industries have worse performance in this indicator. With respect to firm’s characteristics, larger firms (contradicting Gibrat’s law) and exporters grew less. Some results could be explained by the decrease in commodities’ prices and global purchases between 2012 and 2015.

Originality/value

The paper fills some gaps in the firm growth literature by testing Gibrat’s law in non-developed countries (not yet done, to the best of the authors’ knowledge) and exploring variables other than size in the explanation of firm growth (rarely used, to the best of the authors’ knowledge). Moreover, the adopted model correctly estimated the origin of the variability in firm growth in its natural cross-classified distinct levels.

Details

International Journal of Emerging Markets, vol. 13 no. 5
Type: Research Article
ISSN: 1746-8809

Keywords

Article
Publication date: 1 March 1981

John G. Bollinger

Programming a multi‐axis robotic device to follow complex contours can be difficult and time consuming. A United States University working with the automotive division of a US…

Abstract

Programming a multi‐axis robotic device to follow complex contours can be difficult and time consuming. A United States University working with the automotive division of a US company has evolved a prototype system utilising a capacitive displacement transducer.

Details

Sensor Review, vol. 1 no. 3
Type: Research Article
ISSN: 0260-2288

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