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.

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。

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.

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.

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.

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.

OsNPF3.1,a nitrate,abscisic acid and gibberellin transporter gene,is essential for rice tillering and nitrogen utilization efficiency

Low-affinity nitrate transporter genes have been identified in subfamilies 4-8 of the rice nitrate transporter 1(NRT1)/peptide transporter family(NPF),but the OsNPF3 subfamily responsible for nitrate and phytohormone transport and rice growth and development remains unknown.In this study,we described OsNPF3.1 as an essential nitrate and phytohormone transporter gene for rice tillering and nitrogen utilization efficiency(NUtE).OsNPF3.1 possesses four major haplotypes of its promoter sequence in 517 cultivars,and its expression is positively associated with tiller number.Its expression was higher in the basal part,culm,and leaf blade than in other parts of the plant,and was strongly induced by nitrate,abscisic acid(ABA)and gibberellin 3(GA_3)in the root and shoot of rice.Electrophysiological experiments demonstrated that OsNPF3.1 is a pH-dependent low-affinity nitrate transporter,with rice protoplast uptake assays showing it to be an ABA and GA_3 transporter.OsNPF3.1 overexpression significantly promoted ABA accumulation in the roots and GA accumulation in the basal part of the plant which inhibited axillary bud outgrowth and rice tillering,especially at high nitrate concentrations.The NUtE of OsNPF3.1-overexpressing plants was enhanced under low and medium nitrate concentrations,whereas the NUtE of OsNPF3.1 clustered regularly interspaced short palindromic repeats(CRISPR)plants was increased under high nitrate concentrations.The results indicate that OsNPF3.1 transports nitrate and phytohormones in different rice tissues under different nitrate concentrations.The altered OsNPF3.1 expression improves NUtE in the OsNPF3.1-overexpressing and CRISPR lines at low and high nitrate concentrations,respectively.

Amorphous Iridium Oxide-Integrated Anode Electrodes with Ultrahigh Material Utilization for Hydrogen Production at Industrial Current Densities

Herein,ionomer-free amorphous iridium oxide(IrO_(x))thin electrodes are first developed as highly active anodes for proton exchange membrane electrolyzer cells(PEMECs)via low-cost,environmentally friendly,and easily scalable electrodeposition at room temperature.Combined with a Nafion 117 membrane,the IrO_(x)-integrated electrode with an ultralow loading of 0.075 mg cm^(-2)delivers a high cell efficiency of about 90%,achieving more than 96%catalyst savings and 42-fold higher catalyst utilization compared to commercial catalyst-coated membrane(2 mg cm^(-2)).Additionally,the IrO_(x)electrode demonstrates superior performance,higher catalyst utilization and significantly simplified fabrication with easy scalability compared with the most previously reported anodes.Notably,the remarkable performance could be mainly due to the amorphous phase property,sufficient Ir^(3+)content,and rich surface hydroxide groups in catalysts.Overall,due to the high activity,high cell efficiency,an economical,greatly simplified and easily scalable fabrication process,and ultrahigh material utilization,the IrO_(x)electrode shows great potential to be applied in industry and accelerates the commercialization of PEMECs and renewable energy evolution.

Residual fluoride self-activated effect enabling upgraded utilization of recycled graphite anode

Recycling graphite anode from spent lithium-ion batteries(SLIBs)is regarded as a crucial approach to promoting sustainable energy storage industry.However,the recycled graphite(RG)generally presents degraded structure and performance.Herein,the residual fluoride self-activated effect is proposed for the upgraded utilization of RG.Simple and low-energy water immersion treatment not only widens the interlayer spacing,but also retains appropriate fluoride on the surface of RG.Theoretical analysis and experiments demonstrate that the residual fluoride can optimize Li~+migration and deposition kinetics,resulting in better Li~+intercalation/deintercalation in the interlayer and more stable Li metal plating/stripping on the surface of RG,As a result,the designed LFP||RG full cells achieve ultrahigh reversibility(~100%Coulombic efficiency),high capacity retention(67%after 200 cycles,0.85 N/P ratio),and commendable adaptability(stable cycling without short-circuiting,0.15 N/P ratio).The energy density is improved from 334 Wh kg^(-1)of 1.1 N/P ratio to 367 Wh kg^(-1)of 0.85 N/P ratio(total mass based on cathode and anode).The exploration of RG by residual fluoride self-activated effect achieves upgraded utilization beyond fresh commercial graphite and highlights a new strategy for efficient reuse of SLIBs.

Experiences of Mothers on the Utilization of Elimination of Mother to Child Transmission of HIV Services at Mtendere Clinic, Lusaka

Introduction: Acquired immunodeficiency syndrome is one of the leading causes of mortality among women of reproductive age and Mother to Child Transmission of Human immunodeficiency virus is still a challenge affecting many countries. Globally, an estimation of 180,000 children under 15 years acquire the Human immunodeficiency virus every day, and more than 90% of those infections are due to Mother to Child Transmission. The study sought to explore the experiences of mothers on the Elimination of Mother to Child Transmission-HIV services at Mtendere Clinic, Lusaka. Materials and Methods: Qualitative interpretive phenomenology study design was employed using in-depth interviews to collect data from a sample that was selected using purposive sampling technique. Thirteen participants were recruited, and these were HIV-positive mothers at least between the ages of 15 and 49 years and enrolled in the Elimination of Mother To Child Transmission-HIV program. The in-depth interviews were audiotape recorded and transcribed verbatim. Data was analyzed using thematic method. Findings: Three main themes that emerged are;living with HIV, support system and barriers to utilization of Elimination of Mother To Child Transmission-HIV services. Most of the participants expressed having acquired knowledge from the program, and received counselling and support from spouses, family as well as health personnel at Mtendere health facility which culminated into a positive experience and enhanced their uptake of the Elimination of Mother to Child Transmission-HIV services. However, barriers to service utilization were identified and these included fear of stigma, negative attitudes from health workers, long waiting times, lack of support and lack of transport to the health facility. Conclusion: Interventions such as community awareness campaigns on Elimination of Mother To Child Transmission-HIV, male involvement and implementing mother-to-mother peer support strategies in Elimination of Mother To Child Transmission-HIV service utilization should be prioritized so as to alleviate stigma and enhancing a positive experience for these mothers thus reducing on the Mother to Child HIV Transmission burden and mortality rates.

Comprehensive reutilization of herbal waste:Coproduction of magnolol,honokiol,and β-amyrin from Magnolia officinalis residue

Herbal extraction residues(HERs)cause serious environmental pollution and resource waste.In this study,a novel green route was designed for the comprehensive reutilization of all components in HERs,taking Magnolia officinalis residues(MOR)as an example.The reluctant structure of MOR was first destroyed by alkali pretreatment to release the functional ingredients(magnolol and honokiol)originally remaining in MOR and to make MOR more accessible for hydrolysis.A metal–organic frame material MIL-101(Cr)with a maximum absorption capacity of 255.64 mg g^(-1)was synthesized to absorb the released honokiol and magnolol from the pretreated MOR solutions,and 40 g L^(-1)reducing sugars were obtained with 81.8%enzymatic hydrolysis rate at 10%MOR solid loading.Finally,382 mg L-1β-amyrin was produced from MOR hydrolysates by an engineered yeast strain.In total,1 kg honokiol,8 kg magnolol,and 7.64 kg β-amyrin could produce from 1 ton MOR by this cleaner process with a total economic output of 170,700 RMB.

"Three-in-One" Ecological Development and Efficient Utilization Model of Aggregates

Green mining and the formation of an effective and efficient development model have become key issues that aggregates enterprises around the world need to solve urgently.On the basis of analyzing the development status of aggregates industry in Xiluodu area,the paper studied the main problems faced in the construction of green aggregates mines at present,and proposed a"three-in-one"ecological,intelligent and efficient green mine construction model for"ecological development","green logistics"and"solid waste recycling"of aggregates.The study has certain theoretical value and practical significance for the construction of green aggregates mine in Xiluodu area.

Technological advancement and industrialization path of Sinopec in carbon capture,utilization and storage,China

Carbon capture,utilization and storage(CCUS)technology is an important means to effectively reduce carbon emissions from fossil energy combustion and industrial processes.With the crisis of climate change,CCUS has attracted increasing attention in the world.CCUS technology as developed rapidly in China is technically feasible for large-scale application in various industries.The R&D and demonstration of CCUS in China Petroleum&Chemical Corporation(Sinopec)are summarized,including carbon capture,carbon transport,CO_(2)enhanced energy recovery(including oil,gas,and water,etc.),and comprehensive utilization of CO_(2).Based on the source-sink matching characteristics in China,two CCUS industrialization scenarios are proposed,namely,CO_(2)-EOR,CO_(2)-driven enhanced oil recovery using centralized carbon sinks in East China and CO_(2)-EWR,CO_(2)-driven enhanced water recovery(EWR)using centralized carbon sources from the coal chemical industry in West China.Finally,a CCUS industrialization path from Sinopec's perspective is suggested,using CO_(2)-EOR as the major means and CO_(2)-EWR,CO_(2)-driven enhanced gas recovery(CO_(2)-EGR)and other utilization methods as important supplementary means.

Progress in Resource Utilization of River Sediment in the Field of Building Materials

At present,there is a great demand for building materials in the market,and the market prospect of building materials is relatively considerable.Through studying the composition of river sediment and its resource utilization in the field of building materials,this paper expounds the current domestic scholars research on river sediment in building materials,and summarizes the current problems and challenges,so as to provide a reference for the sustainable development of river sediment in the field of building materials.

Study on Gas Explosion Characteristics in Urban Utility Tunnels

In order to study the effects of three factors,namely,premixed gas concentration,number of pressure relief ports and number of obstacles,on the overpressure characteristics of gas explosion and flame structure of gas chambers in utility tunnels,in this paper,a small and narrow experimental platform for gas explosion was constructed to study the evolution mechanism and law of the kinetic characteristics and flame behavior of gas explosion in utility tunnels,with a view to revealing the special influencing mechanism of the overpressure characteristics and flame behavior of gas explosion in utility tunnels.The results show that in the methane concentration of 9.5%when the explosion overpressure reaches its peak,and at the same time by the utility tunnel long and narrow restricted space,the explosion generated by the precursor shock wave along with the flame compression wave were superimposed on both ends of the pipeline back and forth for many times so that the overpressure waveforms are cyclic oscillatory trend,increasing the explosion hazards;compared with the closed conditions,the relief port on the overpressure characteristics of the significant impact of the maximum decrease of 57.7%,when the frequency of overpressure oscillation is reduced,the gas explosion generated by the overpressure damage is reduced;the presence of obstacles significantly affects the flow field,accelerates the flame propagation and leads to greater overpressure peaks and overpressure oscillations.The conclusions of the study can provide a basis for the safety of natural gas in utility tunnels.