GENERALISED OPTIMAL STOPPING STRATEGIES WITH APPLICATIONS TO FINANCE

In this paper we examine the problem of determining the best time to sell an asset, where the stock price is modelled by a hybrid process. In this paper hybrid variable is a mathematical concept that is used to describe a situation in which randomness and fuzziness simultaneously appear in a system or phenomenon. Based on this concept, a hybrid stopping time problem is formulated and investigated. A verification theorem is derived and proved. We illustrate the application of the verification theorem through a practical example in mathematics of finance. A power function with exponent , is used as the utility function in the example. This study is extending the model from Oksendal [12] by including the fuzzy component since market value of assets is usually described using vague human language. The theory of hybrid variables provides a more realistic description of the evolution of price processes of financial assets. Keywords: Randomness, fuzziness, Fuzzy variable, fuzzy process, hybrid variable, hybrid process, stopping time

Predictive intelligence to the edge through approximate collaborative context reasoning

We focus on Internet of Things (IoT) environments where a network of sensing and computing devices are responsible to locally process contextual data, reason and collaboratively infer the appearance of a specific phenomenon (event). Pushing processing and knowledge inference to the edge of the IoT network allows the complexity of the event reasoning process to be distributed into many manageable pieces and to be physically located at the source of the contextual information. This enables a huge amount of rich data streams to be processed in real time that would be prohibitively complex and costly to deliver on a traditional centralized Cloud system. We propose a lightweight, energy-efficient, distributed, adaptive, multiple-context perspective event reasoning model under uncertainty on each IoT device (sensor/actuator). Each device senses and processes context data and infers events based on different local context perspectives: (i) expert knowledge on event representation, (ii) outliers inference, and (iii) deviation from locally predicted context. Such novel approximate reasoning paradigm is achieved through a contextualized, collaborative belief-driven clustering process, where clusters of devices are formed according to their belief on the presence of events. Our distributed and federated intelligence model efficiently identifies any localized abnormality on the contextual data in light of event reasoning through aggregating local degrees of belief, updates, and adjusts its knowledge to contextual data outliers and novelty detection. We provide comprehensive experimental and comparison assessment of our model over real contextual data with other localized and centralized event detection models and show the benefits stemmed from its adoption by achieving up to three orders of magnitude less energy consumption and high quality of inference

Artificial Immune Systems - Models, algorithms and applications

Copyright © 2010 Academic Research Publishing Agency.This article has been made available through the Brunel Open Access Publishing Fund.Artificial Immune Systems (AIS) are computational paradigms that belong to the computational intelligence family and are inspired by the biological immune system. During the past decade, they have attracted a lot of interest from researchers aiming to develop immune-based models and techniques to solve complex computational or engineering problems. This work presents a survey of existing AIS models and algorithms with a focus on the last five years.This article is available through the Brunel Open Access Publishing Fun

Towards robust and reliable multimedia analysis through semantic integration of services

Thanks to ubiquitous Web connectivity and portable multimedia devices, it has never been so easy to produce and distribute new multimedia resources such as videos, photos, and audio. This ever-increasing production leads to an information overload for consumers, which calls for efficient multimedia retrieval techniques. Multimedia resources can be efficiently retrieved using their metadata, but the multimedia analysis methods that can automatically generate this metadata are currently not reliable enough for highly diverse multimedia content. A reliable and automatic method for analyzing general multimedia content is needed. We introduce a domain-agnostic framework that annotates multimedia resources using currently available multimedia analysis methods. By using a three-step reasoning cycle, this framework can assess and improve the quality of multimedia analysis results, by consecutively (1) combining analysis results effectively, (2) predicting which results might need improvement, and (3) invoking compatible analysis methods to retrieve new results. By using semantic descriptions for the Web services that wrap the multimedia analysis methods, compatible services can be automatically selected. By using additional semantic reasoning on these semantic descriptions, the different services can be repurposed across different use cases. We evaluated this problem-agnostic framework in the context of video face detection, and showed that it is capable of providing the best analysis results regardless of the input video. The proposed methodology can serve as a basis to build a generic multimedia annotation platform, which returns reliable results for diverse multimedia analysis problems. This allows for better metadata generation, and improves the efficient retrieval of multimedia resources