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Investing as Random Trial
(2017)
We introduce an investment algorithm for a market of individual securities. The investment algorithm is derived from constraints depending on investment parameters in order to limit the risk and to take into account an individual investor. One constraint is devoted to trading costs. Purchased securities are selected randomly among securities that meet the buy condition, making trading a random trial. Simulations with historical price data are demonstrated for a simple example: The buy condition is evaluated on the basis of the price relationship for two subsequent trading days and the sales condition is defined by holding securities only for one day. A trading expert evaluates the expected return for the investment algorithm with respect to the random selection. Thus, the expert informs precisely on how many market players perform using the same investment algorithm. Its findings are for a parametrized set of buy conditions simultaneously, which makes a trading expert a valuable tool for theorists as well as for practitioners. In our example, the trading expert demonstrated clearly a significant mean reversion effect for a horizon of one day.
Reconciling work and family life is one of the main issues of welfare state policies in the fields of childcare and long-term care. On that account, policy and research are focused almost exclusively on women – often on the reconciliation of work and childbearing – and social policy at the state level. In our study, we concentrate on men who reconcile gainful employment with elderly care, and we include the company level – a level of analysis often neglected in traditional theoretical approaches and typologies of comparative welfare state research. In Germany, during the last decade, the share of sons who are responsible for taking care of their elderly relatives has remarkably increased. In our qualitative research, we carried out comparative case studies in eleven German companies. We conducted around 60 interviews with male employees caring for an elderly relative, as well as with members of the works councils and human resources departments in different kinds of companies. We analysed which familial, social, professional, legal as well as occupational resources are central for these men, how they cope with reconciling work and care, and which gaps in the welfare system they identify. Interestingly, the overwhelming majority of the caring sons claim not to have problems in reconciling work and care, although they spend significant time on caring. In this paper we try to explain this pattern by looking at their typical care arrangements. We found that while women tend to organise employment around care, men rather seem to organise care around their employment. Given the feminist critique of the “adult worker model” this is an interesting result and needs theoretical reflection. Do men have the solution to the care-blindness of the “adult worker model” without falling into the “cold modern model of care”? Which resources are mainly used in “adult worker care arrangements”? Where are the limits of the approach?
Mobile live video streaming is becoming an increasingly popular form of interaction both in social media and remote collaboration scenarios. However, in most cases the streamed video does not take mobile devices' spatial data into account (e.g., the viewers do not know the spatial orientation of a streamer), or use such data only in specific scenarios (e.g., to navigate around a spherical video stream).
More than three decades of ongoing research in immersive modelling has revealed many advantages of creating objects in virtual environments. Even though there are many benefits, the potential of immersive modelling has only been partly exploited due to unresolved problems such as ergonomic problems, numerous challenges with user interaction and the inability to perform exact, fast and progressive refinements. This paper explores past research, shows alternative approaches and proposes novel interaction tools for pending problems. An immersive modelling application for polygon meshes is created from scratch and tested by professional users of desktop modelling tools, such as Autodesk Maya, in order to assess the efficiency, comfort and speed of the proposed application with direct comparison to professional desktop modelling tools.
This paper deals with the design of a micro-scale ORC plant for teaching and research including the development of an automated control concept. The aim is to provide a safe and environmentally acceptable micro-scale heat engine, which can be developed, implemented and used in university labs for the education of students as well as for small research projects. The test rig allows the support of several learning outcomes on a multi-disciplinary level particularly for the implementation and simulation of small power systems. Special attention was given to the organic working fluid characteristics and its selection process. In addition to the above-mentioned performance goals, favourable safety properties and low global warming potential were decisive in the selection of the novel organic fluid called 3M™ Novec™ 649. The performance and the fluid behaviour of Novec 649 in a micro-scale power cycle are of major interest and the research goal for the test rig presented in this paper. Due to the expected power output of 1 kW, a scroll expander was chosen as the generator drive for the micro plant. In order to design the major parts of the ORC, the thermodynamic simulation software EBSILON®Professional was used. The supply temperature was set to 140 °C. As a result of the simulation, feasible expander inlet pressures spread from 5.5 bar to 8.5 bar. This leads to thermal efficiencies of the ORC in the order of 5 %. Adding a recuperator to the cycle system decreases the operating pressure range but in the end, the thermal efficiency can be increased by 1.5 %-points up to 6.2 %. Finally, an automated control concept is introduced, where the pump is controlled via the fill level measurement system.
The ability to understand and predict the pressure losses of orifices is important in order to improve the air flow within the secondary air system. This experimental study investigates the behavior of the discharge coefficient for circular orifices with inlet cross flow which is a common flow case in gas turbines. Examples of this are at the inlet of a film cooling hole or the feeding of air to a blade through an orifice in a rotor disk. Measurements were conducted for a total number of 38 orifices, covering a wide range of length-to-diameter ratios, including short and long orifices with varying inlet geometries. Up to five different chamfer-to-diameter and radius-to-diameter ratios were tested per orifice length. Furthermore, the static pressure ratio across the orifice was varied between 1.05 and 1.6 for all examined orifices. The results of this comprehensive investigation demonstrate the beneficial influence of rounded inlet geometries and the ability to decrease pressure losses, which is especially true for higher cross flow ratios where the reduction of the pressure loss in comparison to sharp-edged holes can be as high as 54%. With some exceptions, the chamfered orifices show a similar behavior as the rounded ones but with generally lower discharge coefficients. Nevertheless, a chamfered inlet yields lower pressure losses than a sharp-edged inlet. The obtained experimental data were used to develop two correlations for the discharge coefficient as a function of geometrical as well as flow properties.
A course called "Engineering Conferences" is presented that the authors have developed and installed as a mandatory part of the curriculum in Master programs for engineering students. The idea is to go beyond teaching the standards of academic writing and skills for working with scientific publications. By using a learner-centered approach, we get the students engaged in typical activities around an active attendance of a real conference. They write a paper complying with common academic standards, submit the paper and review submissions of their fellow students. Students also produce a poster and have to defend it in a poster session held publicly on campus. In this article, we present our rationale to develop the course and our results from the first semester teaching this course. This includes the presentation of useful resources for teaching and organizing scientific publishing as well as our reflected learning experience regarding the student's understanding of significance for scientific publishing.
This article is on a university course called Engineering Conferences. It has been developed by the authors and installed as a mandatory part of the curriculum in three master’s degree programs for engineering students. The participants of the course are postgraduates with different nationalities, mostly German, and different technical backgrounds. They study Mechanical Engineering, Simulation and Experimental Technology, or International Business Engineering. The basic idea of the course concept goes far beyond simply teaching the standards of academic writing and skills for using scientific publications. By using a learnercentered approach, the students get engaged in typical activities around an active attendance of a real conference. Students learn to locate the field of their bachelor thesis or project report in the world of research communities, scientific journals and engineering conferences. They learn about conferences matching their bachelor/project topic. They write a paper complying with common academic standards, submit it to a mock-up conference, and review submissions of their fellow students. Students also produce a poster and have to defend it in a poster session held publicly on the campus. Engineering Conferences is a course on scientific communication and presentation that also aims at the development of other skills and competences needed in the world of modern engineering.