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1 – 10 of 204Ryszard Szupiluk and Tomasz Ząbkowski
The purpose of this paper is to propose a noise identification method for data without temporal structure, in which application of typical mathematical white or colored noise…
Abstract
Purpose
The purpose of this paper is to propose a noise identification method for data without temporal structure, in which application of typical mathematical white or colored noise models is very limited due to observation order requirements. The method is used to identify the destructive elements and to eliminate them what finally brings prediction improvement.
Design/methodology/approach
The paper concerns noise detection problem presented in the framework of ensemble methods via blind signals separation. The authors utilize the Extended Generalized Lambda Distribution (EGLD) model to compare the signals with the target.
Findings
The authors proposed novel signals similarity measure which is based on the EGLD system. The authors showed that it can be applied for data with or without time structure, as well as for data which are mutually uncorrelated. It turned out that method is effective for noise identification and can be an alternative, in many cases, to correlation approach, particularly for noise identification problems.
Originality/value
In this method the improvement of prediction results is associated with elimination of the real physical factors rather than mathematical averaging in terms of arbitrary assumed distributions. In this approach, it does not matter what is the structure of aggregated models, what significantly distinct this approach from such techniques as boosting or bagging, in which the aggregation process applies to the models of similar structure. For this reason the methodology is focussed on physical noises elimination from predictions and it is complementary to the other ensemble approaches.
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Peterson Owusu Junior, George Tweneboah, Kola Ijasan and Nagaratnam Jeyasreedharan
This paper aims to contribute to knowledge by investigating the return behaviour of seven global real estate investment trusts (REITs) with respect to the appropriate…
Abstract
Purpose
This paper aims to contribute to knowledge by investigating the return behaviour of seven global real estate investment trusts (REITs) with respect to the appropriate distributional fit that captures tail and shape characteristics. The study adds to the knowledge of distributional properties of seven global REITs by using the generalised lambda distribution (GLD), which captures fairly well the higher moments of the returns.
Design/methodology/approach
This is an empirical study with GLD through three rival methods of fitting tail and shape properties of seven REIT return data from January 2008 to November 2017. A post-Global Financial Crisis (GFC) (from July 2009) period fits from the same methods are juxtaposed for comparison.
Findings
The maximum likelihood estimates outperform the methods of moment matching and quantile matching in terms of goodness-of-fit in line with extant literature; for the post-GFC period as against the full-sample period. All three methods fit better in full-sample period than post-GFC period for all seven countries for the Region 4 support dynamics. Further, USA and Singapore possess the strongest and stronger infinite supports for both time regimes.
Research limitations/implications
The REITs markets, however, developed, are of wide varied sizes. This makes comparison less than ideal. This is mitigated by a univariate analysis rather than multivariate one.
Practical implications
This paper is a reminder of the inadequacy of the normal distribution, as well as the mean, variance, skewness and kurtosis measures, in describing distributions of asset returns. Investors and policymakers may look at the location and scale of GLD for decision-making about REITs.
Originality/value
The novelty of this work lies with the data used and the detailed analysis and for the post-GFC sample.
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The purpose of this paper is to investigate the performance of a turbine structure of the oil and gas Egyptian company in terms of reliability, mean time to failure (MTTF), mean…
Abstract
Purpose
The purpose of this paper is to investigate the performance of a turbine structure of the oil and gas Egyptian company in terms of reliability, mean time to failure (MTTF), mean time to repair (MTTR) and mean time between failures (MTBF) under fuzzy environment and working criteria. This paper examines the impact of the failure of various components on the complete turbine structure of the oil and gas system.
Design/methodology/approach
To overcome the problem of uncertain behavior of available data for various components, the right triangular generalized fuzzy number (RTrGFN) is proposed to be taken into the account to express the uncertainty which attains some tolerance in data. Furthermore, reliability indices are calculated with the help of the Lambda Tau method and the arithmetic operations on right generalized triangular fuzzy numbers (RTrGFN).
Findings
This paper explores the reliability of a repairable 3 out of 4 structure of turbines and along with the other parameters namely MTTF, MTTR and MTBF; under a fuzzy environment. Failure rates and repair times are expected to be exponential. The ranking of components of the structure is being found to decide the priority for maintenance.
Originality/value
This paper investigates the performance of the system with different spread/tolerance like 15%, 25% and 50% of crisp data. It helps to predict realistic results in the range value. To enhance the system's performance, the most important item of the system requires greater attention. For this, the authors find the sensitive part by ranking. For ranking, an extended approach has been developed to find the sensitive unit of the system by using the right triangular generalized fuzzy number. This paper explores the most and least sensitive component of the system, which helps the maintenance department to plan the maintenance action.
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The purpose of this paper is to analyze the fuzzy reliability of the compressor house unit (CHU) system in a coal fired thermal power plant under vague environment by reducing the…
Abstract
Purpose
The purpose of this paper is to analyze the fuzzy reliability of the compressor house unit (CHU) system in a coal fired thermal power plant under vague environment by reducing the accumulating phenomenon of fuzziness and accelerating the computation process. This paper uses different fuzzy membership functions to quantify uncertainty and access the system reliability in terms of different fuzzy reliability indices having symmetric shapes.
Design/methodology/approach
This study analyses the fuzzy reliability of the CHU system in a coal fired thermal power plant using Tω-based generalized fuzzy Lambda-Tau (TBGFLT) technique. This approach applies fault tree, Lambda-Tau method, different fuzzy membership functions and α-cut coupled Tω-based approximate arithmetic operations to compute various reliability parameters (such as failure rate, repair time, mean time between failures, expected number of failures, availability and reliability) of the system. The effectiveness of TBGFLT technique has been demonstrated by comparing the results with results obtained from four different existing techniques. Moreover, this paper applies the extended Tanaka et al. (1983) approach to rank the critical components of the system when different membership functions are used.
Findings
The adopted TBGFLT technique in the present study improves the shortcomings of the existing approaches by reducing the accumulating phenomenon of fuzziness, accelerating the computation process and getting symmetric shapes for computed reliability parameters when different membership functions are used to quantify data uncertainty.
Originality/value
In existing fuzzy reliability techniques which are developed for repairable systems either triangular fuzzy numbers, triangle vague sets or triangle intuitionistic fuzzy sets have been used for quantifying uncertainty. These approaches do not examine the systems for components with different membership functions. The present study is an effort in this direction and evaluates the fuzzy reliability of the CHU system in a coal fired thermal power plant for components with different membership functions. This is the main contribution of the paper.
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Presents an overview of currently recognized theories of imprecise probabilities and their possible extensions. It is shown how the theories are ordered by their levels of…
Abstract
Presents an overview of currently recognized theories of imprecise probabilities and their possible extensions. It is shown how the theories are ordered by their levels of generality. A summary of current results regarding measures of uncertainty and uncertainty‐based information is also presented.
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Vinicio Magi and Gaetano Vacca
A new implementation of the implicit lambda scheme recently proposed by other authors is provided. One‐dimensional compressible non‐isentropic flows inside four different nozzles…
Abstract
A new implementation of the implicit lambda scheme recently proposed by other authors is provided. One‐dimensional compressible non‐isentropic flows inside four different nozzles and Fanno and Rayleigh's subsonic/ supersonic flows are computed, which demonstrate the superior efficiency and accuracy of the present formulation.
Introduction Many recent articles on monetary economics devote considerable effort to empirically testing various current theories of money demand. Their authors search for new…
Abstract
Introduction Many recent articles on monetary economics devote considerable effort to empirically testing various current theories of money demand. Their authors search for new and better proxies to give empirical content to ‘demand‐for‐money’, ‘income’, and ‘interest‐rate’ magnitudes, standard components of money demand equations. They consider questions of which interest rate to choose from among the manifold, and whether to use Ml or perhaps some other money supply measure to represent ‘demand‐for‐money’. But these economists do not exert the same effort when giving specific form to general money demand functions. The usual research practice is to rather arbitrarily express estimating equations in either a linear or a log‐log functional form (1).
Manjit Verma, Amit Kumar and Yaduvir Singh
The purpose of this paper is to present a new methodology, named vague lambda‐tau, used for reliability analysis of a combustion system, which could be used for managerial…
Abstract
Purpose
The purpose of this paper is to present a new methodology, named vague lambda‐tau, used for reliability analysis of a combustion system, which could be used for managerial decision making and future system maintenance strategy.
Design/methodology/approach
This paper involves the qualitative and quantitative analysis of a combustion system. In qualitative analysis, the Petri net model is obtained from its equivalent fault tree and in quantitative analysis, the reliability parameters are evaluated using vague lambda‐tau methodology. Further, a decision support system based on vague sets is developed to overcome the limitations of traditional risk analysis.
Findings
The reliability parameters (such as expected number of failures, mean time between failures, availability, and reliability) of the compressor system are evaluated. The proposed, vague sets‐based reliability analysis and risk analysis not only overcome the limitations associated with traditional approaches but also integrate the confidence level of domain experts and expert's experience, in a more flexible and realistic manner.
Originality/value
Instead of fuzzy sets, this paper used vague sets for reliability analysis with Petri net modelling because in real life problems, there may be hesitation regarding the belongingness of an object to a set or not. In fuzzy set theory, there is no means to incorporate such type of hesitation.
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Komal, S.P. Sharma and Dinesh Kumar
The purpose of this paper is to present a hybridized technique for analyzing the behavior of an industrial system stochastically utilizing vague, imprecise, and uncertain data…
Abstract
Purpose
The purpose of this paper is to present a hybridized technique for analyzing the behavior of an industrial system stochastically utilizing vague, imprecise, and uncertain data. The press unit of a paper mill situated in a northern part of India, producing 200 tons of paper per day, has been considered to demonstrate the proposed approach. Sensitivity analysis of system's behavior has also been done.
Design/methodology/approach
In the proposed approach, two important tools namely traditional Lambda‐Tau technique and genetic algorithm have been hybridized to build genetic algorithms‐based Lambda‐Tau (GABLT) technique to analyze the behavior of complex repairable industrial systems stochastically up to a desired degree of accuracy. This technique has been demonstrated by computing six well‐known reliability indices used for behavior analysis of the considered system in more promising way.
Findings
The behavior analysis results computed by GABLT technique have reduced region of prediction in comparison of existing Lambda‐Tau technique region, i.e. uncertainties involved in the analysis are reduced. Thus, it may be a more useful analysis tool to assess the current system conditions and involved uncertainties. The paper suggested an approach to improve the system's performance.
Originality/value
The paper suggests a hybridized technique for analyzing the stochastic behavior of an industrial subsystem by computing six well‐known reliability indices in the form of fuzzy membership function.
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