Optimal investment based on relative performance and weighted utility

This paper studies the optimal portfolio allocation of a fund manager when he bases decisions on both the absolute level of terminal relative performance and the change value of terminal relative performance comparison to a predefined reference point. We find the optimal investment strategy by maximizing a weighted average utility of a concave utility and an Sshaped utility via a concavification technique and the martingale method. Numerical results are carried out to show the impact of the extent to which the manager pays attention to the change of relative performance related to the reference point on the optimal terminal relative performance.

Effects of land-use patterns on soil microbial diversity and composition in the Loess Plateau,China

In the Loess Plateau of China,land-use pattern is a major factor in controlling underlying biological processes.Additionally,the process of land-use pattern was accompanied by abandoned lands,potentially impacting soil microbe.However,limited researches were conducted to study the impacts of land-use patterns on the diversity and community of soil microorganisms in this area.The study aimed to investigate soil microbial community diversity and composition using high-throughput deoxyribonucleic acid(DNA)sequencing under different land-use patterns(apricot tree land,apple tree land,peach tree land,corn land,and abandoned land).The results showed a substantial difference(P<0.050)in bacterial alpha-diversity and beta-diversity between abandoned land and other land-use patterns,with the exception of Shannon index.While fungal beta-diversity was not considerably impacted by land-use patterns,fungal alpha-diversity indices varied significantly.The relative abundance of Actinobacteriota(34.90%),Proteobacteria(20.65%),and Ascomycota(77.42%)varied in soils with different land-use patterns.Soil pH exerted a dominant impact on the soil bacterial communities'composition,whereas soil available phosphorus was the main factor shaping the soil fungal communities'composition.These findings suggest that variations in land-use pattern had resulted in changes to soil properties,subsequently impacting diversity and structure of microbial community in the Loess Plateau.Given the strong interdependence between soil and its microbiota,it is imperative to reclaim abandoned lands to maintain soil fertility and sustain its function,which will have significant ecological service implications,particularly with regards to soil conservation in ecologically vulnerable areas.

A utility and easily fabricated dual-mode fiber film for efficient and comfortable thermal management

Nowadays, the global climate is constantly being destroyed and the fluctuations in ambient temperature are becoming more frequent. However, conventional single-mode thermal management strategies(heating or cooling) failed to resolve such dynamic temperature changes. Moreover, developing thermal management devices capable of accommodating these temperature variations while remaining simple to fabricate and durable has remained a formidable obstacle. To address these bottlenecks, we design and successfully fabricate a novel dual-mode hierarchical(DMH) composite film featuring a micronanofiber network structure, achieved through a straightforward two-step continuous electrospinning process. In cooling mode, it presents a high solar reflectivity of up to 97.7% and an excellent atmospheric transparent window(ATW) infrared emissivity of up to 98.9%. Noted that this DMH film could realize a cooling of 8.1 ℃ compared to the ambient temperature outdoors. In heating mode, it also exhibits a high solar absorptivity of 94.7% and heats up to 11.9 ℃ higher than black cotton fabric when utilized by individuals. In practical application scenarios, a seamless transition between efficient cooling and heating is achieved by simply flipping the film. More importantly, the DMH film combining the benefits of composites demonstrates portability, durability, and easy-cleaning, promising to achieve large-scale production and use of thermally managed textiles in the future. The energy savings offered by film applications provide a viable solution for the early realization of carbon neutrality.

Contamination assessment,source apportionment and associated health risks of PTEs in agricultural soil under five land-use patterns in Sanya,China

To understand the levels of potentially toxic elements(PTEs)contamination in soils and their effects on human health from different agricultural land use in Sanya,China.128 soil samples(64 topsoil samples and corresponding subsoil samples)were collected from the five representative land-use patterns.Inductively coupled plasma mass spectrometry(ICP-MS),Atomic fluorescence spectrometry(AFS),and Inductively coupled plasma optical emission spectrometry(ICP-OES)were used to determine the content of PTEs(As,Cd,Hg,Cu,Cr,Ni,Pb,Zn,Co,Mo,Sb,and V).Correlation analysis and factor analysis were used to determine the source of PTEs.Geo-accumulation index(I_(geo)),hazard quotient(HQ),and total carcinogenic risk index(TR)were used to measure the PTEs contamination and its relative health impacts.Results showed that the average values of 12 PTEs in topsoil were higher than the Hainan soil geochemical baseline,showing different degrees of PTEs accumulation effect.The concentration of PTEs in the topsoil was lower than those in the subsoil except for Cd and Hg.The I_(geo)revealed that the major accumulated element in soils was As followed by Mo.Source apportionment suggested that parent materials and agricultural practices were the dominant factors for PTEs accumulation in the topsoil.Noncarcinogenic risks of soil samples from five land-use patterns presented a trend of paddy field>dry field>woodland>orchard>garden plot.However,the HQ values of 12 PTEs were less than the recommended limit of HQ=1,representing that there are no non-carcinogenic risks of PTEs for children and adults in the study area.The TR values are within 6.95×10^(-6)-1.38×10^(-5),which corresponds to the low level.Therefore the PTEs in the agricultural soil of the study area show little influence on the health status of the local population.

PHUI-GA: GPU-based efficiency evolutionary algorithm for mining high utility itemsets

Evolutionary algorithms(EAs)have been used in high utility itemset mining(HUIM)to address the problem of discover-ing high utility itemsets(HUIs)in the exponential search space.EAs have good running and mining performance,but they still require huge computational resource and may miss many HUIs.Due to the good combination of EA and graphics processing unit(GPU),we propose a parallel genetic algorithm(GA)based on the platform of GPU for mining HUIM(PHUI-GA).The evolution steps with improvements are performed in central processing unit(CPU)and the CPU intensive steps are sent to GPU to eva-luate with multi-threaded processors.Experiments show that the mining performance of PHUI-GA outperforms the existing EAs.When mining 90%HUIs,the PHUI-GA is up to 188 times better than the existing EAs and up to 36 times better than the CPU parallel approach.

EOS Utility软件在摄影理论可视化教学中的应用

可视化的理论知识更容易被识记、理解,而在摄影理论教学中,运用静态的图形图像,并不能理想地将复杂理论知识及其相互间的关系表征、可视化。运用EOS Utility软件进行摄影理论知识的辅助教学,可将各知识点内涵及其相互间的关系进行动态地表征,实现摄影参数可视化、摄影过程可视化、摄影效果可视化,使摄影知识点及其相互间的关系更容易被识记、理解,提高教学效率。

Driving forces behind the spatiotemporal heterogeneity of land-use and land-cover change:A case study of the Weihe River Basin,China

The impact of socioeconomic development on land-use and land-cover change(LUCC)in river basins varies spatially and temporally.Exploring the spatiotemporal evolutionary trends and drivers of LUCC under regional disparities is the basis for the sustainable development and management of basins.In this study,the Weihe River Basin(WRB)in China was selected as a typical basin,and the WRB was divided into the upstream of the Weihe River Basin(UWRB),the midstream of the Weihe River Basin(MWRB),the downstream of the Weihe River Basin(DWRB),the Jinghe River Basin(JRB),and the Luohe River Basin(LRB).Based on land-use data(cultivated land,forestland,grassland,built-up land,bare land,and water body)from 1985 to 2020,we analyzed the spatiotemporal heterogeneity of LUCC in the WRB using a land-use transfer matrix and a dynamic change model.The driving forces of LUCC in the WRB in different periods were detected using the GeoDetector,and the selected influencing factors included meteorological factors(precipitation and temperature),natural factors(elevation,slope,soil,and distance to rivers),social factors(distance to national highway,distance to railway,distance to provincial highway,and distance to expressway),and human activity factors(population density and gross domestic product(GDP)).The results indicated that the types and intensities of LUCC conversions showed considerable disparities across different sub-basins,where complex conversions among cultivated land,forestland,and grassland occurred in the LRB,JRB,and UWRB,with higher dynamic change before 2000.The conversion of other land-use types to built-up land was concentrated in the UWRB,MWRB,and DWRB,with substantial increases after 2000.Additionally,the driving effects of the influencing factors on LUCC in each sub-basin also exhibited distinct diversity,with the LRB and JRB being influenced by the meteorological and social factors,and the UWRB,MWRB,and DWRB being driven by human activity factors.Moreover,the interaction of these influencing factors indicated an enhanced effect on LUCC.This study confirmed the spatiotemporal heterogeneity effects of socioeconomic status on LUCC in the WRB under regional differences,contributing to the sustainable development of the whole basin by managing sub-basins according to local conditions.

THE OPTIMAL REINSURANCE-INVESTMENT PROBLEM CONSIDERING THE JOINT INTERESTS OF AN INSURER AND A REINSURER UNDER HARA UTILITY

This paper focuses on an optimal reinsurance and investment problem for an insurance corporation which holds the shares of an insurer and a reinsurer.Assume that the insurer can purchase reinsurance from the reinsurer,and that both the insurer and the reinsurer are allowed to invest in a risk-free asset and a risky asset which are governed by the Heston model and are distinct from one another.We aim to find the optimal reinsuranceinvestment strategy by maximizing the expected Hyperbolic Absolute Risk Aversion(HARA)utility of the insurance corporation’s terminal wealth,which is the weighted sum of the insurer’s and the reinsurer’s terminal wealth.The Hamilton-Jacobi-Bellman(HJB)equation is first established.However,this equation is non-linear and is difficult to solve directly by any ordinary method found in the existing literature,because the structure of this HJB equation is more complex under HARA utility.In the present paper,the Legendre transform is applied to change this HJB equation into a linear dual one such that the explicit expressions of optimal investment-reinsurance strategies for-1≤ρi≤1 are obtained.We also discuss some special cases in a little bit more detail.Finally,numerical analyses are provided.

Structural properties of residual carbon in coal gasification fine slag and their influence on flotation separation and resource utilization:A review

Coal gasification fine slag(FS)is a typical solid waste generated in coal gasification.Its current disposal methods of stockpil-ing and landfilling have caused serious soil and ecological hazards.Separation recovery and the high-value utilization of residual carbon(RC)in FS are the keys to realizing the win-win situation of the coal chemical industry in terms of economic and environmental benefits.The structural properties,such as pore,surface functional group,and microcrystalline structures,of RC in FS(FS-RC)not only affect the flotation recovery efficiency of FS-RC but also form the basis for the high-value utilization of FS-RC.In this paper,the characteristics of FS-RC in terms of pore structure,surface functional groups,and microcrystalline structure are sorted out in accordance with gasification type and FS particle size.The reasons for the formation of the special structural properties of FS-RC are analyzed,and their influence on the flotation separation and high-value utilization of FS-RC is summarized.Separation methods based on the pore structural characterist-ics of FS-RC,such as ultrasonic pretreatment-pore-blocking flotation and pore breaking-flocculation flotation,are proposed to be the key development technologies for improving FS-RC recovery in the future.The design of low-cost,low-dose collectors containing polar bonds based on the surface and microcrystalline structures of FS-RC is proposed to be an important breakthrough point for strengthening the flotation efficiency of FS-RC in the future.The high-value utilization of FS should be based on the physicochemical structural proper-ties of FS-RC and should focus on the environmental impact of hazardous elements and the recyclability of chemical waste liquid to es-tablish an environmentally friendly utilization method.This review is of great theoretical importance for the comprehensive understand-ing of the unique structural properties of FS-RC,the breakthrough of the technological bottleneck in the efficient flotation separation of FS,and the expansion of the field of the high value-added utilization of FS-RC.

Design Strategies for Aqueous Zinc Metal Batteries with High Zinc Utilization: From Metal Anodes to Anode-Free Structures

Aqueous zinc metal batteries(AZMBs)are promising candidates for next-generation energy storage due to the excellent safety, environmental friendliness, natural abundance, high theoretical specific capacity, and low redox potential of zinc(Zn) metal. However,several issues such as dendrite formation, hydrogen evolution, corrosion, and passivation of Zn metal anodes cause irreversible loss of the active materials. To solve these issues, researchers often use large amounts of excess Zn to ensure a continuous supply of active materials for Zn anodes. This leads to the ultralow utilization of Zn anodes and squanders the high energy density of AZMBs. Herein, the design strategies for AZMBs with high Zn utilization are discussed in depth, from utilizing thinner Zn foils to constructing anode-free structures with theoretical Zn utilization of 100%, which provides comprehensive guidelines for further research. Representative methods for calculating the depth of discharge of Zn anodes with different structures are first summarized. The reasonable modification strategies of Zn foil anodes, current collectors with pre-deposited Zn, and anode-free aqueous Zn metal batteries(AF-AZMBs) to improve Zn utilization are then detailed. In particular, the working mechanism of AF-AZMBs is systematically introduced. Finally, the challenges and perspectives for constructing high-utilization Zn anodes are presented.

Entrepreneur Education Level and Its Utility Maximization

The education level of entrepreneurs plays an important role in the decision-making process of loan financing. In this paper, the research method of optimization theory is used to study the problem of the education level and maximizing utility of entrepreneurs, and the optimal analytic solution is obtained. On this basis, the influence of the change of bank loan interest rate, the marginal effect of entrepreneur’s effort, the marginal effect of entrepreneur’s investment, the elastic coefficient of entrepreneur’s effort and the elastic coefficient of entrepreneur’s investment on the optimal solution of entrepreneur’s effort and investment amount is discussed.

High Utility Periodic Frequent Pattern Mining in Multiple Sequences

Periodic patternmining has become a popular research subject in recent years;this approach involves the discoveryof frequently recurring patterns in a transaction sequence. However, previous algorithms for periodic patternmining have ignored the utility (profit, value) of patterns. Additionally, these algorithms only identify periodicpatterns in a single sequence. However, identifying patterns of high utility that are common to a set of sequencesis more valuable. In several fields, identifying high-utility periodic frequent patterns in multiple sequences isimportant. In this study, an efficient algorithm called MHUPFPS was proposed to identify such patterns. To addressexisting problems, three new measures are defined: the utility, high support, and high-utility period sequenceratios. Further, a new upper bound, upSeqRa, and two new pruning properties were proposed. MHUPFPS usesa newly defined HUPFPS-list structure to significantly accelerate the reduction of the search space and improvethe overall performance of the algorithm. Furthermore, the proposed algorithmis evaluated using several datasets.The experimental results indicate that the algorithm is accurate and effective in filtering several non-high-utilityperiodic frequent patterns.

Temporal Preferences-Based Utility Control for Smart Homes

The residential sector contributes a large part of the energy to the global energy balance.To date,housing demand has mostly been uncontrollable and inelastic to grid conditions.Analyzing the performance of a home energy manage-ment system requires the creation of various profiles of real-world residential demand,as residential demand is complex and includes multiple factors such as occupancy,climate,user preferences,and appliance types.Average Peak Ratio(A2P)is one of the most important parameters when managing an efficient and cost-effective energy system.At the household level,the larger relative magni-tudes of certain energy devices make managing this ratio critical,albeit difficult.Various Demand Response(DR)and Demand Side Management(DSM)systems have been proposed to reduce this ratio to 1.The main ways to achieve this are economic incentives,user comfort modeling and control,or preference-based.In this study,we propose a unique opportunistic social time approach called the Time Utility Based Control Feature(TUBCF),which uses the concept of a utility function from economics to model and control consumer devices.We propose a DR model for residential customers to reduce Peak-to-Average Ratio(PAR)and improve customer satisfaction by eliminating Appliance Wait Time(WTA)during peak periods.For PAR reduction and WTA,we propose a system architecture and mathematical formulation.Our proposed model automatically schedules devices based on their temporal preferences and considers six households with different device types and operational characteristics.Simulation results show that using this strategy can reduce A2P by 80%and improve user comfort during peak hours.

An Assessment and Geostatistics of Land-Use and Selected Physico-Chemical Properties of Soils in the Mount Cameroon Area

This work investigated the land-use/land-cover and some physico-chemical properties of the soils of Mt Cameroon and presented same in maps. ArcGIS Pro mapping software, Landsat images, Global Positioning Systems (GPS) coordinates collected from the field combined with updated shape files from competent services were used to produce the location and land-use/land-cover maps. Sixteen topsoil samples (0 - 20 cm) were collected, 4 from each land use/cover category: farmland, forest, plantation and settlement, and analysed for soil pH, cation exchange capacity (CEC), bulk density, moisture content and soil texture, in the laboratory using standard analytical procedures. This data was used to produce spatial distribution maps using ordinary kriging, in ArcGIS Pro. The main terrestrial land use/cover categories comprised of the forest (mangrove, lowland, montane and sub-montane), agroforestry, plantations, grassland, settlement, cropland, shrubby savannah, and bare lava. Bulk density showed the highest values in settlement areas and least values under forest land-use categories. Soil moisture content exhibited a reverse trend compared to that of soil bulk density. Forest soils were the sandiest while soils in plantation agricultural land were the most clayey. The soils were slightly acidic to neutral with soils from agricultural land being more acidic (pH(water) = 5.43). It is discernible from the results that the conversion from forest to other land use/cover classes enhances soil degradation and that soil physico-chemical properties adequately serve as indicators of soil quality in the Mt Cameroon area.

Data-Driven Model for Risk Assessment of Cable Fire in Utility Tunnels Using Evidential Reasoning Approach

Cable fire is one of the most important events for operation and maintenance(O&M)safety in underground utility tunnels(UUTs).Since there are limited studies about cable fire risk assessment,a comprehensive assessment model is proposed to evaluate the cable fire risk in different UUT sections and improve O&M efficiency.Considering the uncertainties in the risk assessment,an evidential reasoning(ER)approach is used to combine quantitative sensor data and qualitative expert judgments.Meanwhile,a data transformation technique is contributed to transform continuous data into a five-grade distributed assessment.Then,a case study demonstrates how the model and the ER approach are established.The results show that in Shenzhen,China,the cable fire risk in District 8,B Road is the lowest,while more resources should be paid in District 3,C Road and District 25,C Road,which are selected as comparative roads.Based on the model,a data-driven O&M process is proposed to improve the O&M effectiveness,compared with traditional methods.This study contributes an effective ER-based cable fire evaluation model to improve the O&M efficiency of cable fire in UUTs.

Utility Impact below Bridge or Culvert Soffit on Open Channel Flow

The background to this research was a flooding incident that occurred in Bridgend, Co. Donegal, Ireland in August 2017. While several properties were flooded, a flooding case study of a single dwelling house adjacent to the Bridgend River at Riverdale, Bunamayne, Co. Donegal, Ireland is used herein. For this study the flooded site shall be referred to as the “Hegarty property”. A structure in the form of a stone arched culvert is located directly adjacent to the two-storey detached dwelling house on the Hegarty Property. While the culvert is referred to locally as a bridge, within this research the word culvert will be used in connection with the structure. The culvert has a concrete surrounded utility (watermain) crossing at a gradient below the culvert soffit on the upstream face of the structure. The utility obstructed flow through the culvert and contributed to the flooding event. Given the implication of climate change and the increased probability of more extreme flooding events, it was decided to explore the case study to ascertain the factors that contribute to flooding events when utilities are positioned at culvert or bridge structures. This work was completed to assist undergraduate students, researchers, and local authorities in a relatively unknown area of flood causation.

SPI软件Import Utility模块在仪表数字化交付中的应用

为满足仪表数字化交付要求,基于Smart Plant Instrumentation(SPI)软件Import Utility导入模块的使用,对数字化交付这项内容采用的主要解决方法和主要流程进行了阐述,提出了在前期设计未使用SPI软件的情况下,设计院如何满足业主数字化交付的需求。

Understanding Expected Utility for Decision Making

In this paper,we present a brief version of de Finetti-Ramsey’s subjective probability theory and provide a rigorous yet intuitively plausible explanation of expected utility using elementary mathematics.In a final section,we take up the case of some“Paradoxes in Expected Utility Theory”and try to reconcile them with the help of subjective probabilities.

Resource utilization of hazardous gypsum sludge in oxidation smelting of lead concentrate

Gypsum sludge,a hazardous waste generated by the non-ferrous smelting industry,presents a significant challenge for disposal and utilization.To investigate the feasibility of substituting gypsum sludge for limestone as a flux for smelting,the effects of calcium sulfate(CaSO_(4))and smelting conditions on oxygen-rich smelting of lead concentrate were studied.The interaction between CaSO_(4)and sulfides facilitates the conversion of CaSO_(4)into CaO,which is crucial for slag formation.The order of the influence of sulfide minerals on the conversion of CaSO_(4)is pyrite>sphalerite>galena.When using gypsum sludge exclusively as the calcium source,under optimal conditions with a CaO/SiO_(2)mass ratio of 0.8,an FeO/SiO_(2)mass ratio of 1.2,a melting temperature of 1150℃,an oxygen flow rate of 1.3 L/min,the recovery rates of Pb and Zn in the lead-rich slag reached 85.01%and 95.69%,respectively,with a sulfur content of 2.65 wt%.The As content in the smelting slag obtained by reduction smelting was 0.02 wt%.Resource utilization of gypsum sludge in lead smelting is a feasible method.

Effects of the kinetic pattern of dietary glucose release on nitrogen utilization, the portal amino acid profile, and nutrient transporter expression in intestinal enterocytes in piglets

Background Promoting the synchronization of glucose and amino acid release in the digestive tract of pigs could effectively improve dietary nitrogen utilization.The rational allocation of dietary starch sources and the exploration of appropriate dietary glucose release kinetics may promote the dynamic balance of dietary glucose and amino acid supplies.However,research on the effects of diets with different glucose release kinetic profiles on amino acid absorption and portal amino acid appearance in piglets is limited.This study aimed to investigate the effects of the kinetic pattern of dietary glucose release on nitrogen utilization,the portal amino acid profile,and nutrient transporter expression in intestinal enterocytes in piglets.Methods Sixty-four barrows(15.00±1.12 kg)were randomly allotted to 4 groups and fed diets formulated with starch from corn,corn/barley,corn/sorghum,or corn/cassava combinations(diets were coded A,B,C,or D respectively).Protein retention,the concentrations of portal amino acid and glucose,and the relative expression of amino acid and glucose transporter m RNAs were investigated.In vitro digestion was used to compare the dietary glucose release profiles.Results Four piglet diets with different glucose release kinetics were constructed by adjusting starch sources.The in vivo appearance dynamics of portal glucose were consistent with those of in vitro dietary glucose release kinetics.Total nitrogen excretion was reduced in the piglets in group B,while apparent nitrogen digestibility and nitrogen retention increased(P<0.05).Regardless of the time(2 h or 4 h after morning feeding),the portal total free amino acids content and contents of some individual amino acids(Thr,Glu,Gly,Ala,and Ile)of the piglets in group B were significantly higher than those in groups A,C,and D(P<0.05).Cluster analysis showed that different glucose release kinetic patterns resulted in different portal amino acid patterns in piglets,which decreased gradually with the extension of feeding time.The portal His/Phe,Pro/Glu,Leu/Val,Lys/Met,Tyr/Ile and Ala/Gly appeared higher similarity among the diet treatments.In the anterior jejunum,the glucose transporter SGLT1 was significantly positively correlated with the amino acid transporters B0AT1,EAAC1,and CAT1.Conclusions Rational allocation of starch resources could regulate dietary glucose release kinetics.In the present study,group B(corn/barley)diet exhibited a better glucose release kinetic pattern than the other groups,which could affect the portal amino acid contents and patterns by regulating the expression of amino acid transporters in the small intestine,thereby promoting nitrogen deposition in the body,and improving the utilization efficiency of dietary nitrogen.