Valuing pilot projects in a learning by investing framework: An approximate dynamic programming approach

We introduce a general discrete time dynamic framework to value pilot project investments that reduce idiosyncratic uncertainty with respect to the final cost of a project. The model generalizes different settings introduced previously in the literature by incorporating both market and technical uncertainty and differentiating between the commercial phase and the pilot phase of a project. In our model, the pilot phase requires N$N$ stages of investment for completion. With this distinction we are able to frame the problem as a compound perpetual Bermudan option. We work in an incomplete markets setting where market uncertainty is spanned by tradable assets and technical uncertainty is idiosyncratic to the firm. The value of the option to invest as well as the optimal exercise policy are solved by an approximate dynamic programming algorithm that relies on the independence of the state variables increments. We prove the convergence of our algorithm and derive a theoretical bound on how the errors compound as the number of stages of the pilot phase is increased. We implement the algorithm for a simplified version of the model where revenues are fixed, providing an economic interpretation of the effects of the main parameters driving the model. In particular, we explore how the value of the investment opportunity and the optimal investment threshold are affected by changes in market volatility, technical volatility, the learning coefficient, the drift rate of costs and the time to completion of a pilot stage.     

An ant colony optimization algorithm for DNA sequencing by hybridization

The reconstruction of DNA sequences from DNA fragments is one of the most challenging problems in computational biology. In recent years the specific problem of DNA sequencing by hybridization has attracted quite a lot of interest in the optimization community. Several metaheuristics such as tabu search and evolutionary algorithms have been applied to this problem. However, the performance of existing metaheuristics is often inferior to the performance of recently proposed constructive heuristics. On the basis of these new heuristics we develop an ant colony optimization algorithm for DNA sequencing by hybridization. An important feature of this algorithm is the implementation in a so-called multi-level framework. The computational results show that our algorithm is currently a state-of-the-art method for the tackled problem.     

The Strong Property of Morphological Connected Alternated Filters

This paper studies connectivity aspects that arise in image operators that process connected components. The focus is on morphological image analysis (i.e., on increasing image operators) and, in particular, on a robustness property satisfied by certain morphological filters that is denominated the strong property. The behavior of alternated compositions of openings and closings is investigated under certain assumptions, particularly connectedness and a connected component preserving condition. It is shown that these conditions cannot in general guarantee the strong property of certain connected alternated filters because of issues related to the locality of the filters. As treated in the paper, there have been a series of misunderstandings in the literature concerning this topic, and it is important to clarify them. The root cause of those problems is discussed, and a solution is indicated. The class of connected openings and closings used to build connected alternated filters should therefore be defined to avoid such situations, since the strong property of alternated filters should be a distinctive characteristic of this class.

浅析3G技术及发展策略

本文简述3G（第三代移动通信系统）的含义及3G技术的基本特点;从3G技术在通信类业务、娱乐类业务、资讯类业务、互联网业务等方面的应用,介绍其发展现状;分析3G技术在培育用户、建立行业联盟、建设流媒体平台、提高内容质量方面的发展策略。     

计算机图形学的基本算法实现研究

该文对计算机图形学中多边形剪裁和逐点生成的基础算法进行比较和研究,对于提高计算机图形系统的性能具有很大的帮助,具有很强的理论和现实意义。     

基于内容分组与能力匹配的邻居选择算法

邻居选择算法是影响P2P文件共享系统的整体吞吐量和带宽利用率的关键技术之一.目前BT类P2P文件共享系统中的一些常用邻居选择算法一般存在着邻居节点间的内容可交换性差和带宽利用率低等问题.提出一种新的邻居选择算法,将节点按内容分组,由节点上报的上传、下载的字节数计算出带宽能力,让能力匹配的节点成为邻居.计算机仿真实验表明,新算法显著地提高文件共享系统的整体吞吐量,减少用户的平均下载时间,从而有效地改善P2P文件共享系统的整体性能.     

A comprehensive decision making structure for partitioning of make-to-order, make-to-stock and hybrid products

Manufacturing systems produce their products by making use of three main strategies: make-to-order, make-to-stock and hybrid (combination of MTO and MTS strategies) systems. Hence, several products must be considered and partitioned in terms of many different conflicting criteria, leading to a large set of subjective or ambiguous data. Thus, an effective evaluation approach is essential to improve decision quality. In this paper a comprehensive decision, making structure is proposed to choose the proper strategy for producing the products. It consists of a novel hybrid methodology, which combines analytical hierarchy process (AHP) and technique for order performance by similarity to ideal solution (TOPSIS) for partitioning of products. In this study, the rating of each alternative regarding different criteria (throughout the TOPSIS technique) is described by means of linguistic variables. Furthermore, fuzzy AHP methodology is applied to determine the weights of evaluation criteria. At the end, the effectiveness of the proposed model is demonstrated through a case study.     

Using formal methods to increase confidence in a home network system implementation: a case study

A home network system consists of multiple networked appliances, intended to provide more convenient and comfortable living for home users. Before being deployed, one has to guarantee the correctness, the safety, and the security of the system. Here, we present the approach chosen to validate the Java implementation of a home network system. We rely on the Java Modelling Language to formally specify and validate an abstraction of the system. This is a substantially revised version of our paper that appeared in the proceedings of the Workshop On Leveraging Applications of Formal Methods, Verification and Validation (ISoLA), Poitiers-Futuroscope, France, December 2007.     

Manufacturing processes of Atlantic Bronze Age annular gold ornaments—A case study of the Guînes gold hard (Pas-de-Calais,France)

ABSTRACT

The gold work from the Western European Middle and Late Bronze Age (about 1500–700 BC) is characterized by solid ornaments and vessels. This article deals with manufacturing techniques of heavy gold jewelry by presenting a gold hoard found at Guînes, Pas-de-Calais, in Northern France, as a case study. In particular, three ornament types will be taken into consideration: (1) solid penannular neck and arm-rings, plain or with linear or geometric decoration; (2) flange-twisted ornaments that appear in different dimensions, as small as ear rings, as neck rings, up to the large size of a belt; (3) complex, composite ornaments. The technological aspects dealt with in this precious metal working context are manifold, including ingot and lost wax casting, hammering and bending of solid rods, the production of flange-twisted rods, chasing as decoration method, and finally joining techniques such as soldering, riveting and folding, and creasing.     

Graphene-Au nanoparticle based electrochemical immunosensor for fish pathogen Aphanomyces invadans detection

Epizootic ulcerative syndrome (EUS) that is primarily caused by an invasive oomycete fungus Aphanomyces invadans is a devastating fish disease. Rapid diagnosis of EUS is significantly important for the control and treatment of this highly invasive disease. In our study, a label-free immunosensor constructed with G-AuNPs/SAM-Ab-BSA/GCE was proposed for the determination of Aphanomyces invadans. The electrode was prepared by the immobilization of anti-mycelium antibodies on graphene-AuNPs nanocomposite-cysteamine monolayers modified GCE. The optimized parameters were as follows: 90 min as the immersion time of SAM modified electrode in the anti-mycelium solution, 0.20 µg/mL as the concentration of anti-mycelium solution and 10 min as the interaction time of immunoreaction. The immunosensors exhibited low limit detection of 309 ng/mL and good reproducibility.