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1 – 10 of 15This paper shows a new methodology for evaluating the value and sensitivity of autocall knock-in type equity-linked securities. While the existing evaluation methods, Monte Carlo…
Abstract
This paper shows a new methodology for evaluating the value and sensitivity of autocall knock-in type equity-linked securities. While the existing evaluation methods, Monte Carlo simulation and finite difference method, have limitations in underestimating the knock-in effect, which is one of the important characteristics of this type, this paper presents a precise joint probability formula for multiple autocall chances and knock-in events. Based on this, the calculation results obtained by utilizing numerical and Monte Carlo integration are presented and compared with those of existing models. The results of the proposed model show notable improvements in terms of accuracy and calculation time.
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Yongsik Kim, Hyeong-Ohk Bae and Hyunseok Roh
We propose a new numerical algorithm for pricing the Equity linked Security which is a financial derivative. Our algorithm utilizes FDM with the Exit-Probability. Through…
Abstract
We propose a new numerical algorithm for pricing the Equity linked Security which is a financial derivative. Our algorithm utilizes FDM with the Exit-Probability. Through numerical examples, we validate that our algorithm is more accurate than the conventional method.
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Liliana Rybarska-Rusinek, Ewa Rejwer and Alexander Linkov
At present numerical simulation of seismicity, used in mining and hydraulic fracturing practice, is quite time expensive what hampers its combined employing with observed…
Abstract
Purpose
At present numerical simulation of seismicity, used in mining and hydraulic fracturing practice, is quite time expensive what hampers its combined employing with observed seismicity in real time. The purpose of this paper is to suggest a mean for drastic speeding up numerical modeling seismic and aseismic events.
Design/methodology/approach
The authors propose the means to radically decrease the time expense for the bottleneck stage of simulation: calculations of stresses, induced by a large group of already activated flaws (sources of events), at locations of flaws of another large group, which may be activated by the stresses. This is achieved by building a hierarchical tree and properly accounting for the sizes of activated flaws, excluding check of their influence on flaws, which are beyond strictly defined near-regions of strong interaction.
Findings
Comparative simulations of seismicity by conventional and improved methods demonstrate high efficiency of the means developed. When applied to practical mining and hydrofracturing problems, it requires some two orders less time to obtain practically the same output results as those of conventional methods.
Originality/value
The proposed improvement provides a means for simulation of seismicity in real time of mining steps and hydrofracture propagation. It can be also used in other applications involving seismic and aseismic events and acoustic emission.
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Yangyiwei Yang, Patrick Kühn, Mozhdeh Fathidoost and Bai-Xiang Xu
Confronting the unveiled sophisticated structural and physical characteristics of permanent magnets, notably the samarium–cobalt (Sm-Co) alloy, This work aims to introduce a…
Abstract
Purpose
Confronting the unveiled sophisticated structural and physical characteristics of permanent magnets, notably the samarium–cobalt (Sm-Co) alloy, This work aims to introduce a simulation scheme that can link physics-based micromagnetics on the nanostructures and magnetostatic homogenization on the mesoscale polycrystalline structures.
Design/methodology/approach
The simulation scheme is arranged in a multiscale fashion. The magnetization behaviors on the nanostructures examined with various orientations are surrogated as the micromagnetic-informed hysterons. The hysteresis behavior of the mesoscale polycrystalline structures with micromagnetic-informed hysterons is then evaluated by computational magnetostatic homogenization.
Findings
The micromagnetic-informed hysterons can emulate the magnetization reversal of the parameterized Sm-Co nanostructures as the local hysteresis behavior on the mesostructures. The simulation results of the mesoscale polycrystal demonstrate that the demagnetization process starts from the grain with the largest orientation angle (a) and then propagates to the surrounding grains.
Research limitations/implications
The presented scheme depicts the demand for integrating data-driven methods, as the parameters of the surrogate hysteron intrinsically depend on the nanostructure and its orientation. Further hysteron parameters that help the surrogate hysteron emulate the micromagnetic-simulated magnetization reversal should be examined.
Originality/value
This work provides a novel multiscale scheme for simulating the polycrystalline permanent magnets’ hysteresis while recapitulating the nanoscale mechanisms, such as the nucleation of domains, and domain wall migration and pinning. This scheme can be further extended to simulate the part-level hysteresis considering the mesoscale features.
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Stefano Costa and Eugenio Costamagna
This paper aims to solve inhomogeneous dielectric problems by matching boundary conditions at the interfaces among homogeneous subdomains. The capabilities of Hilbert transform…
Abstract
Purpose
This paper aims to solve inhomogeneous dielectric problems by matching boundary conditions at the interfaces among homogeneous subdomains. The capabilities of Hilbert transform computations are deeply investigated in the case of limited numbers of samples, and a refined model is presented by means of investigating accuracies in a case study with three subdomains.
Design/methodology/approach
The accuracies, refined by Richardson extrapolation to zero error, are compared to finite element (FEM) and finite difference methods. The boundary matching procedures can be easily applied to the results of a previous Schwarz–Christoffel (SC) conformal mapping stage in SC + BC procedures, to cope with field singularities or with open boundary problems.
Findings
The proposed field computations are of general interest both for electrostatic and magnetostatic field analysis and optimization. They can be useful as comparison tools for FEM results or when severe field singularities can impair the accuracies of other methods.
Research limitations/implications
This static field methodology, of course, can be used to analyse transverse electro magnetic (TEM) or quasi-TEM propagation modes. It is possible that, in some case, these may make a contribution to the analysis of axis symmetrical problems.
Originality/value
The most relevant result is the possible introduction of SC + BC computations as a standard tool for solving inhomogeneous dielectric field problems.
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Sigmund Arntsønn Tronvoll, Sebastian Popp, Christer Westum Elverum and Torgeir Welo
This paper aims to present the mathematical foundation of so-called advance algorithms, developed to compensate for defects during acceleration and deacceleration of the print…
Abstract
Purpose
This paper aims to present the mathematical foundation of so-called advance algorithms, developed to compensate for defects during acceleration and deacceleration of the print head in filament-based melt extrusion additive processes. It then investigates the validity of the mathematical foundation, its performance on a low-cost system and the effect of changing layer height on the algorithm’s associated process parameter.
Design/methodology/approach
This study starts with a compilation and review of literature associated with advance algorithms, then elaborates on its mathematical foundation and methods of implementation. Then an experiment displaying the performance of the algorithm implemented in Marlin machine firmware, Linear Advance 1.0, is performed using three different layer heights. The results are then compared with simulations of the system using Simulink.
Findings
Findings suggests that advance algorithms following the presented approach is capable of eliminating defects because of acceleration and deacceleration of the print head. The results indicate a layer height dependency on the associated process parameter, requiring higher compensation values for lower layer heights. It also shows higher compensation values for acceleration than deacceleration. Results from the simulated mathematical model correspond well with the experimental results but predict some rapid variations in flow rate that is not reflected in the experimental results.
Research limitations/implications
As there are large variations in printer design and materials, deviation between different setups must be expected.
Originality/value
To the best of authors’ knowledge, this study is the first to describe and investigate advance algorithms in academic literature.
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Andrea Spaggiari and Filippo Favali
The purpose of this paper is to evaluate and exploit the combination of additive manufacturing polymeric technology and structural adhesives. The main advantage is to expand the…
Abstract
Purpose
The purpose of this paper is to evaluate and exploit the combination of additive manufacturing polymeric technology and structural adhesives. The main advantage is to expand the maximum dimension of the 3D printed parts, which is typically limited, by joining the parts with structural adhesive, without losing strength and stiffness and keeping the major asset of polymeric 3 D printing: freedom of shape of the system and low cost of parts.
Design/methodology/approach
The materials used in the paper are the following. The adhesive considered is a commercial inexpensive acrylic, quite similar to superglue, applicable with almost no surface preparation and fast curing, as time constraint is one of the key problems that affects industrial adhesive applications. The 3D printed parts were in acrylonitrile butadiene styrene (ABS), obtained with a Fortus 250mc FDM machine, from Stratasys. The work first compares flat overlap joint with joints designed to permit mechanical interlocking of the adherends and then to a monolithic component with the same geometry. Single lap, joggle lap and double lap joints are the configurations experimentally characterized following a design of experiment approach.
Findings
The results show a failure in the substrate, due to the low strength of the polymeric adherends for the first batch of typical bonded configurations, single lap, joggle lap and double lap. The central bonded area, with an increased global thickness, never does fail, and the adhesive is able to transfer the load both with and without mechanical interlocking. An additional set of scarf joints was also tested to promote adhesive failure as well as to retrieve the adhesive strength in this application. The results shows that bonding of polymeric AM parts is able to express its full potential compared with a monolithic solution even though the joint fails prematurely in the adherend due to the bending stresses and the notches present in the lap joints.
Research limitations/implications
Because of the 3D printed polymeric material adopted, the results may be generalized only when the elastic properties of the adherends and of the adhesive are similar, so it is not possible to extend the findings of the work to metallic additive manufactured components.
Practical implications
The paper shows that the adhesives are feasible way to expand the potentiality of 3 D printed equipment to obtain larger parts with equivalent mechanical properties. The paper also shows that the scarf joint, which fails in the adhesive first, can be used to extract information about the adhesive strength, useful for the designers which have to combine adhesive and additive manufactured polymeric parts.
Originality/value
To the best of the researchers’ knowledge, there are scarce quantitative information in technical literature about the performance of additive manufactured parts in combination with structural adhesives and this work provides an insight on this interesting subject. This manuscript provides a feasible way of using rapid prototyping techniques in combination with adhesive bonding to fully exploit the additive manufacturing capability and to create large and cost-effective 3 D printed parts.
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Luke Mizzi, Arrigo Simonetti and Andrea Spaggiari
The “chiralisation” of Euclidean polygonal tessellations is a novel, recent method which has been used to design new auxetic metamaterials with complex topologies and improved…
Abstract
Purpose
The “chiralisation” of Euclidean polygonal tessellations is a novel, recent method which has been used to design new auxetic metamaterials with complex topologies and improved geometric versatility over traditional chiral honeycombs. This paper aims to design and manufacture chiral honeycombs representative of four distinct classes of 2D Euclidean tessellations with hexagonal rotational symmetry using fused-deposition additive manufacturing and experimentally analysed the mechanical properties and failure modes of these metamaterials.
Design/methodology/approach
Finite Element simulations were also used to study the high-strain compressive performance of these systems under both periodic boundary conditions and realistic, finite conditions. Experimental uniaxial compressive loading tests were applied to additively manufactured prototypes and digital image correlation was used to measure the Poisson’s ratio and analyse the deformation behaviour of these systems.
Findings
The results obtained demonstrate that these systems have the ability to exhibit a wide range of Poisson’s ratios (positive, quasi-zero and negative values) and stiffnesses as well as unusual failure modes characterised by a sequential layer-by-layer collapse of specific, non-adjacent ligaments. These findings provide useful insights on the mechanical properties and deformation behaviours of this new class of metamaterials and indicate that these chiral honeycombs could potentially possess anomalous characteristics which are not commonly found in traditional chiral metamaterials based on regular monohedral tilings.
Originality/value
To the best of the authors’ knowledge, the authors have analysed for the first time the high strain behaviour and failure modes of chiral metamaterials based on Euclidean multi-polygonal tessellations.
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Fast iterative algorithms for designing birefringent filters with any specified spectral response are proposed. From the Jones formalism, we derive two polynomials representing…
Abstract
Fast iterative algorithms for designing birefringent filters with any specified spectral response are proposed. From the Jones formalism, we derive two polynomials representing the transmitted and rejected response of the filter, respectively. Once the coefficients of the filters are obtained, the orientation angle of each birefringent section and the phase shift introduced by each compensator can be determined by an iterative algorithm that gives an efficient solution to the birefringent filter design problem. Afterward, some design examples are presented to demonstrate the effectiveness of the proposed approach. In comparison with results reported in the literature, this approach provides the best performance in terms of accuracy and time complexity.
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Diqian Ren, Jun-Ki Choi and Kellie Schneider
Because of the significant differences in the features and requirements of specific products and the capabilities of various additive manufacturing (AM) solutions, selecting the…
Abstract
Purpose
Because of the significant differences in the features and requirements of specific products and the capabilities of various additive manufacturing (AM) solutions, selecting the most appropriate AM technology can be challenging. This study aims to propose a method to solve the complex process selection in 3D printing applications, especially by creating a new multicriteria decision-making tool that takes the direct certainty of each comparison to reflect the decision-maker’s desire effectively.
Design/methodology/approach
The methodology proposed includes five steps: defining the AM technology selection decision criteria and constraints, extracting available AM parameters from the database, evaluating the selected AM technology parameters based on the proposed decision-making methodology, improving the accuracy of the decision by adopting newly proposed weighting scheme and selecting optimal AM technologies by integrating information gathered from the whole decision-making process.
Findings
To demonstrate the feasibility and reliability of the proposed methodology, this case study describes a detailed industrial application in rapid investment casting that applies the weightings to a tailored AM technologies and materials database to determine the most suitable AM process. The results showed that the proposed methodology could solve complicated AM process selection problems at both the design and manufacturing stages.
Originality/value
This research proposes a unique multicriteria decision-making solution, which employs an exclusive weightings calculation algorithm that converts the decision-maker's subjective priority of the involved criteria into comparable values. The proposed framework can reduce decision-maker's comparison duty and potentially reduce errors in the pairwise comparisons used in other decision-making methodologies.
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