• Title/Summary/Keyword: path-dependence

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Multiperiod Mean Absolute Deviation Uncertain Portfolio Selection

  • Zhang, Peng
    • Industrial Engineering and Management Systems
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    • v.15 no.1
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    • pp.63-76
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    • 2016
  • Multiperiod portfolio selection problem attracts more and more attentions because it is in accordance with the practical investment decision-making problem. However, the existing literature on this field is almost undertaken by regarding security returns as random variables in the framework of probability theory. Different from these works, we assume that security returns are uncertain variables which may be given by the experts, and take absolute deviation as a risk measure in the framework of uncertainty theory. In this paper, a new multiperiod mean absolute deviation uncertain portfolio selection models is presented by taking transaction costs, borrowing constraints and threshold constraints into account, which an optimal investment policy can be generated to help investors not only achieve an optimal return, but also have a good risk control. Threshold constraints limit the amount of capital to be invested in each stock and prevent very small investments in any stock. Based on uncertain theories, the model is converted to a dynamic optimization problem. Because of the transaction costs, the model is a dynamic optimization problem with path dependence. To solve the new model in general cases, the forward dynamic programming method is presented. In addition, a numerical example is also presented to illustrate the modeling idea and the effectiveness of the designed algorithm.

Resistance Switching Characteristics of Metal/TaOx/Pt with Oxidation degree of metal electrodes

  • Na, Hee-Do;Kim, Jong-Gi;Sohn, Hyun-Chul
    • Proceedings of the Korean Vacuum Society Conference
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    • 2010.08a
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    • pp.187-187
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    • 2010
  • In this study, we investigated the effect of electrodes on resistance switching of TaOx film. Pt, Ni, TiN, Ti and Al metal electrodes having the different oxidation degree were deposited on TaOx/Pt stack. Unipolar resistance switching behavior in Pt or Ni/TaOx/Pt MIM stacks was investigated, but bipolar resistance switching behavior in TiN, Ti or Al /TaOx/Pt MIM stacks was shown. We investigated that the voltage dependence of capacitance was decreased with higher oxidation degree of metal electrodes. Through the C-V results, we expected that linearity ($\alpha$) and quadratic ($\beta$) coefficient was reduced with an increase of interface layer between top electrode and Tantalum oxide. Transmission Electron Microscope (TEM) images depicted the thickness of interface layer formed with different oxidation degree of top electrode. Unipolar resistance switching behavior shown in lower oxidation degree of top electrode was expected to be generated by the formation of the conducting path in TaOx film. But redox reaction in interface between top electrode and Tantalum oxide may play an important role on bipolar resistance switching behavior exhibited in higher oxidation degree of top electrode. We expected that the resistance switching characteristics were determined by oxidation degree of metal electrodes.

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Flexural ductility of reinforced and prestressed concrete sections with corrugated steel webs

  • Chen, X.C.;Au, F.T.K.;Bai, Z.Z.;Li, Z.H.;Jiang, R.J.
    • Computers and Concrete
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    • v.16 no.4
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    • pp.625-642
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    • 2015
  • Prestressed concrete bridges with corrugated steel webs have emerged as one of the promising bridge forms. This structural form provides excellent structural efficiency with the concrete flanges primarily taking bending and the corrugated steel webs primarily taking shear. In the design of this type of bridges, the flexural ductility and deformability as well as strength need to be carefully examined. Evaluation of these safety-related attributes requires the estimation of full-range behaviour. In this study, the full-range behaviour of beam sections with corrugated steel webs is evaluated by means of a nonlinear analytical method which uses the actual stress-strain curves of the materials and considers the path-dependence of materials. In view of the different behaviour of components and the large shear deformation of corrugated steel webs with negligible longitudinal stiffness, the assumption that plane sections remain plane may no longer be valid. The interaction between shear deformation and local bending of flanges may cause additional stress in flanges, which is considered in this study. The numerical results obtained are compared with experimental results for verification. A parametric study is undertaken to clarify the effects of various parameters on ductility, deformability and strength.

Extensive investigations of photon interaction properties for ZnxTe100- x alloys

  • Singh, Harinder;Sharma, Jeewan;Singh, Tejbir
    • Nuclear Engineering and Technology
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    • v.50 no.8
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    • pp.1364-1371
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    • 2018
  • An extensive investigation of photon interaction properties has been made for $Zn_xTe_{100-x}$ alloys (where x = 5, 20, 30, 40, 50) to explore its possible use in sensing and shielding gamma radiations. The results show better and stable response of ZnTe alloys for various photon interaction properties over the wide energy range, with an additional benefit of ease in fabrication due to lower melting points of Zn and Te. Mass attenuation coefficient values show strong dependence on photon energy as well as composition. Effective atomic number has maximum value for $Zn_5Te_{95}$ and lowest for $Zn_{50}Te_{50}$ in the entire energy region. The alloy sample with maximum $Z_{eff}$ shows minimal value of $N_e$ and vice versa. Mean free path follows inverse trend as observed for mass attenuation coefficient. The exposure and energy absorption buildup factors depend upon photon energy, penetration thickness and composition (effective atomic number) of $Zn_xTe_{100-x}$ alloys. It finds its application for sensing and shielding from highly energetic and highly penetrating photons at sites where radioactive materials were used and visibility of material is not a big constraint. Further, energy down conversion property of ZnTe alloys with subsequent emission in green band suggests its potential use in sensing gamma photons.

China's Belt and Road Initiative and its Implications for Global Development

  • DUNFORD, MICHAEL
    • Acta Via Serica
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    • v.6 no.1
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    • pp.91-118
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    • 2021
  • China's Belt and Road Initiative (BRI) is China's contribution to the need for the world to collectively address deficits of peace, development, governance, and problems relating to climate, the environment and human health. The rise of China and the BRI do challenge the current 'rules-based global order' and the economic dominance and moral, political, economic, and cultural leadership of the United States and its allies. However, China's goal is not hegemony but a multipolar world in which common values coexist with principles of peaceful coexistence (including non-interference in the internal affairs of sovereign states). The evolution of the BRI is outlined, and the ways in which it reflects Chinese interests are summarized, including its roles in addressing natural resource dependence and excess capacity, a transition from investment promotion and factor-intensive growth to going out and industrial upgrading, going West, and the effective deployment of China's foreign exchange assets. Although China does therefore potentially gain, the BRI is designed so that partners also gain in a quest for win-win co-operation and mutual benefit. The values that underlie this approach and the call for a community with a shared future are compared with competing western values, whose roots lie in Enlightenment thought and are associated with a record of colonialism and imperialism. In this light, the article concludes with a consideration of the global implications of the BRI, the challenges it confronts and the likelihood that the unipolar moment will give way to a multipolar global development path.

Investigation of Device Characteristics on the Mechanical Film Stress of Contact Etch Stop Layer in Nano-Scale CMOSFET (Nano-Scale CMOSFET에서 Contact Etch Stop Layer의 Mechanical Film Stress에 대한 소자특성 분석)

  • Na, Min-Ki;Han, In-Shik;Choi, Won-Ho;Kwon, Hyuk-Min;Ji, Hee-Hwan;Park, Sung-Hyung;Lee, Ga-Won;Lee, Hi-Deok
    • Journal of the Institute of Electronics Engineers of Korea SD
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    • v.45 no.4
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    • pp.57-63
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    • 2008
  • In this paper, the dependence of MOSFET performance on the channel stress is characterized in depth. The tensile and compressive stresses are applied to CMOSFET using a nitride film which is used for the contact etch stop layer (CESL). Drain current of NMOS and PMOS is increased by inducing tensile and compressive stress, respectively, due to the increased mobility as well known. In case of NMOS with tensile stress, both decrease of the back scattering ratio ($\tau_{sat}$) and increase of the thermal injection velocity ($V_{inj}$) contribute the increase of mobility. It is also shown that the decrease of the $\tau_{sat}$ is due to the decrease of the mean free path ($\lambda_O$). On the other hand, the mobility improvement of PMOS with compressive stress is analyzed to be only due to the so increased $V_{inj}$ because the back scattering ratio is increased by the compressive stress. Therefore it was confirmed that the device performance has a strong dependency on the channel back scattering of the inversion layer and thermal injection velocity at the source side and NMOS and PMOS have different dependency on them.

Route Changes of Our Policy the Public Rental Housing -of Nest Housing and Happy Homes- (우리나라 공공임대주택정책의 경로변화 -보금자리 주택, 행복주택을 중심으로-)

  • Kim, Bog-Sig;Ryu, Ji-Seong
    • The Journal of the Korea Contents Association
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    • v.16 no.9
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    • pp.170-184
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    • 2016
  • The research is our public rental housing policy are 'Why' Did you no choice but to make the route changes, according to previous governments neo-institutional one fine history of care institutions, Historical analysis method and historical comparison system was complementary to the borders of the principle of hacke to appear (248 hacker, 2004 :) that the path to the model attempts to analyze a mix of evolution. Our country has a high degree of exodus due to industrialization and urbanization have caused and here, by means of side effects to housing was becoming serious social problems. Has this to solve housing problems governments have any policy to take a look at the latest. 5, 16 5,16 Military Coup caused by the advent of the Third Republic ; lack of legitimacy of the regime established, the Korea Housing Corporation randomness that for over the cracks and a consensus on the critical period of Public Rental Housing begins to engage in further studies in this study reported paths of Lee Myung-bak administration during the course of evolution 'of nest housing', and government 'happy homes', Park Geun-hye, a diagnose and address the state of the public rental housing policy by comparison, the next of Public Rental Housing A desirable destination of the study to present.

Discrimination between Earthquakes and Explosions Recorded by the KSRS Seismic Array in Wonju, Korea (원주 KSRS 지진 관측망에 기록된 지진과 폭발 식별 연구)

  • Jeong, Seong Ju;Che, Il-Young;Kang, Tae-Seob
    • Geophysics and Geophysical Exploration
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    • v.17 no.3
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    • pp.137-146
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    • 2014
  • This study presents a procedure for discrimination of artificial events from earthquakes occurred in and around the Korean Peninsula using data set in the Wonju KSRS seismograph network, Korea. Two training sets representing natural and artificial earthquakes were constructed with 150 and 56 events, respectively, with high signal to noise ratio. A frequency band, Pg(4-6 Hz)/Lg(5-7 Hz), which is optimal for the discrimination of seismic sources was derived from the two-dimensional grid of Pg/Lg spectral amplitude ratio. The corrections for the effects of earthquake magnitude and hypocentral distance were carried out for improvement of discrimination capability. For correcting the effect of magnitude dependence due to the inverse proportionality of corner frequency to seismic moment, the Brune's source spectrum was subtracted from the observation spectrum. The spectrum was corrected using the optimal damping coefficient to remove damping effect with the hypocentral distance. The effect of locally varying spectrum ratio was cancelled correcting variation of wave propagation along the ray path. The performance in discrimination between training sets of natural and artificial events was compared using the Mahalanobis distance in each step of correction. The procedure of magnitude, distance, and path corrections show clear improvements of the discrimination results with increasing Mahalanobis distance, from 1.98 to 3.01, between two training sets.

A Criticism of Path Dependence in the Broadcasting Programming Regulation : Focusing on Regulation of Programming Quotas (방송편성규제의 경로의존성 비판과 개선방향 : 편성비율규제를 중심으로)

  • Hong, Won-Sik
    • Journal of Korea Entertainment Industry Association
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    • v.14 no.6
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    • pp.1-11
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    • 2020
  • With the activation of OTT and VOD services, the viewing behavior is rapidly changing, but the programming regulation has not escaped the ratio regulation in the same way as in the past. Therefore, this paper aims to examine the policy validity of the current organization ratio regulation and to suggest improvement directions based on this. To this end, the policy objectives and background at the time of the introduction of the domestic organization ratio regulation were considered and compared with the current status of the broadcasting market. As a result, this study found that it is difficult to apply the logical framework of asymmetric regulation at the time of the formation ratio regulation into the current status of broadcasting market, the existing framework was established and hold in the mutual relationship of various stake holders formed based on the asymmetric regulation. It was pointed out that the typical pattern of path dependency repeating only fine adjustment of ratio was shown. Based on this, this study suggests that it needs to be divided into the regulation by the public interest and the regulation by the industrial purpose according to the purpose of regulation, and it is necessary to be limited to the direct regulation corresponding to the public interest of the viewer. Also this study proposes that it is necessary to separate the regulation from promotion policies as well as to resolute asymmetric regulation in broadcasting policies.

Development of Analytic Hierarchy Process or Solving Dependence Relation between Multicriteria (다기준 평가항목간 중복도를 반영한 AHP 기법 개발)

  • 송기한;홍상연;정성봉;전경수
    • Journal of Korean Society of Transportation
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    • v.20 no.7
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    • pp.15-22
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    • 2002
  • Transportation project appraisal should be precise in order to increase the social welfare and efficiency, and it has been evaluated by only a single criterion analysis such as benefit/cost analysis. However, this method cannot assess some qualitative items, and cannot get a proper solution for the clash of interests among various groups. Therefore, the multi-criteria analysis, which can control these problems, is needed, and then Saaty has developed one of these methods, AHP(Analytic Hierarchy Process) method. In AHP, the project is evaluated through weighted score of the criteria and the alternatives, which is surveyed by a questionnaire of specialists. It is based on some strict suppositions such as reciprocal comparison, homogeneity, expectation, independence relationship between multi-criteria, but supposing that each criterion has independence relation with others is too difficult in two reasons. First, in real situation, there cannot be perfect independence relationship between standards. Second, individuals, even though they are specialists of that area, do not feel the degree of independence relation as same as others. This paper develops a modified AHP method for solving this dependence relationship between multi-criteria. First of all. in this method, the degree of dependence relationship between multi-criteria that the specialist feels is surveyed and included to the weighted score of multi-criteria This study supposes three methods to implement this idea. The first model products the degree of dependence relationship in the first step for calculating the weighted score, and the others adjust the result of weighted score from the basic AHP method to the dependence relationship. One of the second methods distributes the cross weighted score to each standard by constant ratio, and the other splits them using Fuzzy measure such as Bel and Pl. Finally, in order to validate these methods, this paper applies them to evaluate the alternatives which can control public resentments against Korean rail path in a city area.