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1 – 10 of 34
Open Access
Article
Publication date: 2 March 2023

Sofia Holguin and Olga Kosheleva

Usually, people's interests do not match perfectly. So when several people need to make a joint decision, they need to compromise. The more people one has to coordinate the…

307

Abstract

Purpose

Usually, people's interests do not match perfectly. So when several people need to make a joint decision, they need to compromise. The more people one has to coordinate the decision with, the fewer chances that each person's preferences will be properly taken into account. Therefore, when a large group of people need to make a decision, it is desirable to make sure that this decision can be reached by dividing all the people into small-size groups so that this decision can reach a compromise between the members of each group. The study's objective is to analyze when such a compromise is possible.

Design/methodology/approach

In this paper, the authors use a recent mathematical result about convex sets to analyze this problem and to come up with an optimal size of such groups.

Findings

The authors find the smallest group size for which a joint decision is possible. Specifically, the authors show that in situations where each alternative is characterized by n quantities, it is possible to have a joint decision if the participants are divided into groups of size n -- and, in general, no such decision is possible if the participants are divided into groups of size n -- 1.

Originality/value

The main novelty of this paper is that, first, it formulates the problem, which, to the best of the authors’ knowledge, was never formulated in this way before, and, second, that it provides a solution to this problem.

Details

Asian Journal of Economics and Banking, vol. 7 no. 2
Type: Research Article
ISSN: 2615-9821

Keywords

Open Access
Article
Publication date: 1 March 2022

Jaehyuk Choi and Rong Chen

Risk parity, also known as equal risk contribution, has recently gained increasing attention as a portfolio allocation method. However, solving portfolio weights must resort to…

1609

Abstract

Risk parity, also known as equal risk contribution, has recently gained increasing attention as a portfolio allocation method. However, solving portfolio weights must resort to numerical methods as the analytic solution is not available. This study improves two existing iterative methods: the cyclical coordinate descent (CCD) and Newton methods. The authors enhance the CCD method by simplifying the formulation using a correlation matrix and imposing an additional rescaling step. The authors also suggest an improved initial guess inspired by the CCD method for the Newton method. Numerical experiments show that the improved CCD method performs the best and is approximately three times faster than the original CCD method, saving more than 40% of the iterations.

Details

Journal of Derivatives and Quantitative Studies: 선물연구, vol. 30 no. 2
Type: Research Article
ISSN: 1229-988X

Keywords

Open Access
Article
Publication date: 10 February 2021

Ryan Peterson and Robin B. DiPietro

Drawing on theories of development economics and sustainable tourism, this research explores the differences between sovereign and nonsovereign small island tourism economies…

3235

Abstract

Purpose

Drawing on theories of development economics and sustainable tourism, this research explores the differences between sovereign and nonsovereign small island tourism economies (SITEs) and identifies the antecedents and effects of overtourism in the Caribbean.

Design/methodology/approach

The research design is based on a comparative case study of selected Caribbean SITEs. Case study research involves a detailed empirical inquiry that investigates a contemporary phenomenon within its real-life context. The main purpose of a case study is to provide a contextual analysis of the conditions and processes involved in the phenomenon under study. A comparative case study is an appropriate research methodology to explore new multi-faceted concepts with limited empirical evidence.

Findings

The results confirm previous studies that nonsovereign SITEs have a distinctive overdrive toward tourism specialization. Moreover, the findings indicate that overtourism is driven by both global and domestic policy factors and generates significant economic volatility, social inequality and ecological stress. The paper discusses the tourism policy implications of the evolving economic disconnectedness, environmental decay and social tensions in SITEs in the Caribbean.

Originality/value

Policy recommendations are presented for transitioning toward a more inclusive development and strengthening the resilience of small island tourism development in the Caribbean.

Details

International Hospitality Review, vol. 35 no. 1
Type: Research Article
ISSN: 2516-8142

Keywords

Open Access
Article
Publication date: 14 August 2020

F.J. Farsana, V.R. Devi and K. Gopakumar

This paper introduces an audio encryption algorithm based on permutation of audio samples using discrete modified Henon map followed by substitution operation with keystream…

1599

Abstract

This paper introduces an audio encryption algorithm based on permutation of audio samples using discrete modified Henon map followed by substitution operation with keystream generated from the modified Lorenz-Hyperchaotic system. In this work, the audio file is initially compressed by Fast Walsh Hadamard Transform (FWHT) for removing the residual intelligibility in the transform domain. The resulting file is then encrypted in two phases. In the first phase permutation operation is carried out using modified discrete Henon map to weaken the correlation between adjacent samples. In the second phase it utilizes modified-Lorenz hyperchaotic system for substitution operation to fill the silent periods within the speech conversation. Dynamic keystream generation mechanism is also introduced to enhance the correlation between plaintext and encrypted text. Various quality metrics analysis such as correlation, signal to noise ratio (SNR), differential attacks, spectral entropy, histogram analysis, keyspace and key sensitivity are carried out to evaluate the quality of the proposed algorithm. The simulation results and numerical analyses demonstrate that the proposed algorithm has excellent security performance and robust against various cryptographic attacks.

Details

Applied Computing and Informatics, vol. 19 no. 3/4
Type: Research Article
ISSN: 2634-1964

Keywords

Open Access
Article
Publication date: 6 May 2020

Arcade Ndoricimpa

The purpose of this study is to seek to re-examine the threshold effects of public debt on economic growth in Africa.

9896

Abstract

Purpose

The purpose of this study is to seek to re-examine the threshold effects of public debt on economic growth in Africa.

Design/methodology/approach

This study applies panel smooth transition regression approach advanced by González et al. (2017). The method allows for both heterogeneity as well as a smooth change of regression coefficients from one regime to another.

Findings

A debt threshold in the range of 62–66% is estimated for the whole sample. Low debt is found to be growth neutral but higher public debt is growth detrimental. For middle-income and resource-intensive countries, a debt threshold in the range of 58–63% is estimated. As part of robustness checks, a dynamic panel threshold model was also applied to deal with the endogeneity of debt, and a much higher debt threshold was estimated, at 74.3%. While low public debt is found to be either growth neutral or growth enhancing, high public debt is consistently detrimental to growth.

Research limitations/implications

The findings of this study show that there is no single debt threshold applicable to all African countries, and confirm that the debt threshold level is sensitive to modeling choices. While further analysis is still needed to suggest a policy, the findings of this study show that high debt is detrimental to growth.

Originality/value

The novelty of this study is twofold. Contrary to previous studies on Africa, this study applies a different estimation technique which allows for heterogeneity and a smooth change of regression coefficients from one regime to another. Another novelty distinct from the previous studies is that, for robustness checks, this study divides the sample into low- and middle-income countries, and into resource- and nonresource intensive countries, as debt experience can differ among country groups. Further, as part of robustness checks, another estimation method is also applied in which the threshold variable (debt) is allowed to be endogenous.

Details

Journal of Economics and Development, vol. 22 no. 2
Type: Research Article
ISSN: 1859-0020

Keywords

Open Access
Article
Publication date: 3 August 2020

Djordje Cica, Branislav Sredanovic, Sasa Tesic and Davorin Kramar

Sustainable manufacturing is one of the most important and most challenging issues in present industrial scenario. With the intention of diminish negative effects associated with…

2175

Abstract

Sustainable manufacturing is one of the most important and most challenging issues in present industrial scenario. With the intention of diminish negative effects associated with cutting fluids, the machining industries are continuously developing technologies and systems for cooling/lubricating of the cutting zone while maintaining machining efficiency. In the present study, three regression based machine learning techniques, namely, polynomial regression (PR), support vector regression (SVR) and Gaussian process regression (GPR) were developed to predict machining force, cutting power and cutting pressure in the turning of AISI 1045. In the development of predictive models, machining parameters of cutting speed, depth of cut and feed rate were considered as control factors. Since cooling/lubricating techniques significantly affects the machining performance, prediction model development of quality characteristics was performed under minimum quantity lubrication (MQL) and high-pressure coolant (HPC) cutting conditions. The prediction accuracy of developed models was evaluated by statistical error analyzing methods. Results of regressions based machine learning techniques were also compared with probably one of the most frequently used machine learning method, namely artificial neural networks (ANN). Finally, a metaheuristic approach based on a neural network algorithm was utilized to perform an efficient multi-objective optimization of process parameters for both cutting environment.

Details

Applied Computing and Informatics, vol. 20 no. 1/2
Type: Research Article
ISSN: 2634-1964

Keywords

Open Access
Article
Publication date: 4 August 2020

Alaa Tharwat

Independent component analysis (ICA) is a widely-used blind source separation technique. ICA has been applied to many applications. ICA is usually utilized as a black box, without…

29349

Abstract

Independent component analysis (ICA) is a widely-used blind source separation technique. ICA has been applied to many applications. ICA is usually utilized as a black box, without understanding its internal details. Therefore, in this paper, the basics of ICA are provided to show how it works to serve as a comprehensive source for researchers who are interested in this field. This paper starts by introducing the definition and underlying principles of ICA. Additionally, different numerical examples in a step-by-step approach are demonstrated to explain the preprocessing steps of ICA and the mixing and unmixing processes in ICA. Moreover, different ICA algorithms, challenges, and applications are presented.

Details

Applied Computing and Informatics, vol. 17 no. 2
Type: Research Article
ISSN: 2634-1964

Keywords

Open Access
Article
Publication date: 24 September 2019

Aboubakar Seddik Bouchikhi

The purpose of this paper is to introduce a numerical investigation used to calculate the J-integral of the main crack behavior emanating from a semicircular notch and double…

1112

Abstract

Purpose

The purpose of this paper is to introduce a numerical investigation used to calculate the J-integral of the main crack behavior emanating from a semicircular notch and double semicircular notch and its interaction with another crack which may occur in various positions in (TiB/Ti) functionally graded material (FGM) plate subjected to tensile mechanical load.

Design/methodology/approach

For this purpose the variations of the material properties are applied at the integration points and at the nodes by implementing a subroutine USDFLD in the ABAQUS software. The variation of the J-integral according to the position, the length and the angle of rotation of cracks is demonstrated. The variation of the J-integral according to the position, the length and the angle of rotation of cracks is examined; also the effect of different parameters for double notch FGM plate is investigated as well as the effect of band of FGM within the ceramic plate to reduce J-integral.

Findings

According to the numerical analysis, all parameters above played an important role in determining the J-integral.

Originality/value

The present study consists in investigating the simulation used to calculate the J-integral of the main crack behavior emanating from a semicircular notch and double semicircular notch and its interaction with another crack which may occur in various positions in (TiB/Ti) FGM plate under Mode I. The J-integral is determined for various load applied. The cracked plate is joined by bonding an FGM layer to TiB plate on its double side. The determination of the gain on J-integral by using FGM layer is highlighted. The calculation of J-integral of FGM’s involves the direction of the radius of the notch in order to reduce the J-integral.

Details

International Journal of Structural Integrity, vol. 10 no. 6
Type: Research Article
ISSN: 1757-9864

Keywords

Open Access
Article
Publication date: 13 July 2021

Matteo Davide Lorenzo Dalla Vedova and Pier Carlo Berri

The purpose of this paper is to propose a new simplified numerical model, based on a very compact semi-empirical formulation, able to simulate the fluid dynamics behaviors of an…

1126

Abstract

Purpose

The purpose of this paper is to propose a new simplified numerical model, based on a very compact semi-empirical formulation, able to simulate the fluid dynamics behaviors of an electrohydraulic servovalve taking into account several effects due to valve geometry (e.g. flow leakage between spool and sleeve) and operating conditions (e.g. variable supply pressure or water hammer).

Design/methodology/approach

The proposed model simulates the valve performance through a simplified representation, deriving from the linearized approach based on pressure and flow gains, but able to evaluate the mutual interaction between boundary conditions, pressure saturation and leak assessment. Its performance was evaluated comparing with other fluid dynamics numerical models (a detailed physics-based high-fidelity one and other simplified models available in the literature).

Findings

Although still showing some limitations attributable to its simplified formulation, the proposed model overcomes several deficiencies typical of the most common fluid dynamic models available in the literature, describing the water hammer and the nonlinear dependence of the delivery differential pressure with the spool displacement.

Originality/value

Although still based on a simplified formulation with reduced computational costs, the proposed model introduces a new nonlinear approach that, approximating with suitable precision the pressure-flow fluid dynamic characteristic of a servovalve, overcomes the shortcomings typical of such models.

Details

Aircraft Engineering and Aerospace Technology, vol. 94 no. 1
Type: Research Article
ISSN: 1748-8842

Keywords

Open Access
Article
Publication date: 29 June 2020

Paolo Manghi, Claudio Atzori, Michele De Bonis and Alessia Bardi

Several online services offer functionalities to access information from “big research graphs” (e.g. Google Scholar, OpenAIRE, Microsoft Academic Graph), which correlate…

4592

Abstract

Purpose

Several online services offer functionalities to access information from “big research graphs” (e.g. Google Scholar, OpenAIRE, Microsoft Academic Graph), which correlate scholarly/scientific communication entities such as publications, authors, datasets, organizations, projects, funders, etc. Depending on the target users, access can vary from search and browse content to the consumption of statistics for monitoring and provision of feedback. Such graphs are populated over time as aggregations of multiple sources and therefore suffer from major entity-duplication problems. Although deduplication of graphs is a known and actual problem, existing solutions are dedicated to specific scenarios, operate on flat collections, local topology-drive challenges and cannot therefore be re-used in other contexts.

Design/methodology/approach

This work presents GDup, an integrated, scalable, general-purpose system that can be customized to address deduplication over arbitrary large information graphs. The paper presents its high-level architecture, its implementation as a service used within the OpenAIRE infrastructure system and reports numbers of real-case experiments.

Findings

GDup provides the functionalities required to deliver a fully-fledged entity deduplication workflow over a generic input graph. The system offers out-of-the-box Ground Truth management, acquisition of feedback from data curators and algorithms for identifying and merging duplicates, to obtain an output disambiguated graph.

Originality/value

To our knowledge GDup is the only system in the literature that offers an integrated and general-purpose solution for the deduplication graphs, while targeting big data scalability issues. GDup is today one of the key modules of the OpenAIRE infrastructure production system, which monitors Open Science trends on behalf of the European Commission, National funders and institutions.

Details

Data Technologies and Applications, vol. 54 no. 4
Type: Research Article
ISSN: 2514-9288

Keywords

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