Random risk aversion and the cost of eliminating the foreign exchange risk of the Euro

This paper answers the following questions. If the Euro foreign exchange risk is given, what is the cost of eliminating such a risk? How does risk aversion affect this cost? What is the relation between the insurance premium on the Euro and this cost? Is it possible to find out the level of risk aversion by looking upon actual risk-free yields? If risk aversion is random, how do risk-free yields move with the return on the Euro currency? Economists usually take for granted that preferences are stable. By contrast, business news networks mention frequently changing risk appetite, or changing investor sentiment, in order to explain market behavior. This paper shows that it is worthwhile to presume that risk aversion is random, because such randomness provides direct answers to the questions raised above.The Euro, foreign exchange risk, expected utility, cost of risk, risk aversion, risk compensation, insurance premium, risk-free yields, Monte Carlo simulations, bootstrap sampling, EU financial markets

The effect of Vitamin D status on lung function and airway inflammation in adults in Saudi Arabia and the UK

Vitamin D deficiency is a worldwide health problem and more extensively present in the gulf countries such as Saudi Arabia and in high latitude countries such as the United Kingdom. Many previous cross-sectional studies have investigated the correlation between vitamin D status and lung function, but the effect of vitamin D status on lung function and airway inflammation is still debatable. This project aimed to investigate the effect of vitamin D intervention through pharmacological supplements or dietary intake, on lung function and airway inflammation, among asthmatic adults in Saudi Arabia and in healthy individuals in the United Kingdom. The main findings of the study were; vitamin D deficiency is highly prevalent in asthma participants in Saudi Arabia (86%) and in healthy individuals in the UK (81%). Asthma participants with higher serum vitamin D levels had trend of better lung function (FEV1, P 0.287; FVC, P 0.391), slightly lower fractional exhaled nitric oxide levels (P 0.719) and lower blood inflammatory biomarkers, however, did not reach significant levels. Healthy participants with higher vitamin D levels had also better lung function (FEV1, P 0.104, FVC, P 0.158) but no differences in airway inflammation. Vitamin D intervention through oral supplements or dietary intervention for three weeks, significantly increased serum vitamin D levels (Supplement, P <0.001, dietary, P 0.002) and improved lung function, especially the forced vital capacity (P 0.031), but did not have effects on airway inflammation. Dietary vitamin D intake was lower than the recommendation in both groups. During the study sun-exposure was at the minimal level due to hot weather in Saudi and cold and cloudy weather in the UK. Vitamin D intervention did not affect weight or percentage of body fat. Both chemiluminescence immunoassay and liquid chromatography-tandem mass spectrometry method can be used in measuring serum vitamin D levels but they cannot be used interchangeably due to systematic differences. However, they showed an acceptable agreement levels. Overall, the study found that vitamin D supplement in high dose, low dose or dietary intervention were effective in raising serum vitamin D level and had a trend of positive effect on lung function but not airway inflammation

The two-sex life table and predation rate of Oenopia conglobata contaminata (Col.: Coccinellidae) feeding on pomegranate green aphid, Aphis punicae (Hem.: Aphididae), under laboratory conditions

The ladybird species Oenopia conglobata contaminata (Menetries) is one of the major predators of pests in the orchards across Iran. The life history and predation rate of this predator were studied under laboratory conditions with 27.5 ± 2oC, 55 ± 5 RH and 16: 8 h (L: D) photoperiod to 6-cm petri dishes. To study the demography, a cohort containing about 100 eggs with less than 24h of age was chosen. Ladybeetle larvae were fed daily on the immature stages of pomegranate green aphids, Aphis punicae Pass. The daily fertility, immature developmental time, mortality and predation rate data were analyzed using age-stage, two-sex life table analysis - MSChart software. Means and standard errors of population growth parameters were calculated by bootstrap method. To determine the predation rate, the first-instar beetle larvae were fed on the third and forth developmental stages of A. punicae. The adult ladybirds were grouped in pairs of opposite sexes to investigate their predation rates on daily basis. The intrinsic rate of increase (rm), finite rate of increase(λ) , mean generation time (T0) and net reproductive rate )R0( were 0.181 d-1, 1.198 d-1, 30.58 d and 251.65 offspring per individual respectively. Predation rate of different stages of forth-instar larvae and both adult sexes were 49.56, 95 and 125, aphids respectively, and the average predation rate (C0) was 118 aphids that shows a high rate of predation on the aphid population

The Use of Geomatic Techniques to Monitor Environmental Deformation

Geospatial deformations are very important in some countries and may lead to catastrophes. For this purpose we need to find practical accurate ways to provide continuous monitoring and measurement to allow protection and secure safety. Some countries are suffering great losses such as Jordan where the major high way that connects the north to the middle of the country is closed most of the winter due to landslides that push the road away. In this work we are employing new Geomatics technique to analyze, monitor and measure the landslides. An application of geodetic monitoring of a major landslide on the highway linked Amman to the north (Jerash, Irbid). For the purpose of monitoring the landslide we designed a geodetic network, which consists of 4 points. Measurements were carried out over the period 2007 to 2012 (before and after rainy season) of 12 points within the network. The obtained results are compared to results published previously using different techniques of measurement over the two years period (2002-2004). In the new methodology, GPS receivers and total stations of high precision were used in addition to an orthophoto of two aerial photographs. The observations adjustment and the deformation analysis were executed using locally developed computer programs. The study enabled us to determine a value of 0.26 m/year as an average displacement of the landslide-prone area for the period of 2007-2012. Doi: 10.12777/ijse.4.2.2013.92-96 [How to cite this article: Rawashdeh, S., Ruzouq, R.E., and Qtaishat, K.S.. (2013). The use of geomatic techniques to monitor environmental deformation. International Journal of Science and Engineering, 4(2),92-96. Doi: 10.12777/ijse.4.2.2013.92-96

Laser Drilling - Drilling with the Power of Light

Gas Technology Institute (GTI) has been the leading investigator in the field of high power laser applications research for well construction and completion applications. Since 1997, GTI (then as Gas Research Institute- GRI) has investigated several military and industrial laser systems and their ability to cut and drill into reservoir type rocks. In this report, GTI continues its investigation with a 5.34 kW ytterbium-doped multi-clad high power fiber laser (HPFL). When compared to its competitors; the HPFL represents a technology that is more cost effective to operate, capable of remote operations, and requires considerably less maintenance and repair. Work performed under this contract included design and implementation of laboratory experiments to investigate the effects of high power laser energy on a variety of rock types. All previous laser/rock interaction tests were performed on samples in the lab at atmospheric pressure. To determine the effect of downhole pressure conditions, a sophisticated tri-axial cell was designed and tested. For the first time, Berea sandstone, limestone and clad core samples were lased under various combinations of confining, axial and pore pressures. Composite core samples consisted of steel cemented to rock in an effort to represent material penetrated in a cased hole. The results of this experiment will assist in the development of a downhole laser perforation or side tracking prototype tool. To determine how this promising laser would perform under high pressure in-situ conditions, GTI performed a number of experiments with results directly comparable to previous data. Experiments were designed to investigate the effect of laser input parameters on representative reservoir rock types of sandstone and limestone. The focus of the experiments was on laser/rock interaction under confining pressure as would be the case for all drilling and completion operations. As such, the results would be applicable to drilling, perforation, and side tracking applications. In the past, several combinations of laser and rock variables were investigated at standard conditions and reported in the literature. More recent experiments determined the technical feasibility of laser perforation on multiple samples of rock, cement and steel. The fiber laser was capable of penetrating these materials under a variety of conditions, to an appropriate depth, and with reasonable energy requirements. It was determined that fiber lasers are capable of cutting rock without causing damage to flow properties. Furthermore, the laser perforation resulted in permeability improvements on the exposed rock surface. This report has been prepared in two parts and each part may be treated as a stand-alone document. Part 1 (High Energy Laser Drilling) includes the general description of the concept and focuses on results from experiments under the ambient lab conditions. Part 2 (High Energy Laser Perforation and Completion Techniques) discusses the design and development of a customized laser pressure cell; experimental design and procedures, and the resulting data on pressure-charged samples exposed to the laser beam. An analysis provides the resulting effect of downhole pressure conditions on the laser/rock interaction process

ToiMon: W.C. monitoring system

The size of public buildings is increasing and the number of visitors also increased as a result. The services in the public building including the toilet facilities face many issues such as lack of maintance and propper hygiene, lack of staff that could constantly follow and check the condition of each toilet. Additionally, the visitors faces some issues such as looking for the closer bathroom and knowing the availability status within a building

BUSTRACKER: Cloud based bus tracking application

Public transportation is a new and facilitated service which enables peoples to reach their desired destination without the need to use their personal vehicles. However, low accuracy of the bus schedules tend to cause many problems for the bus passengers. Moreover, most of the time,the bus will not arrive on the time which has been already provided on the schedule due to many causes such as traffic jam

Effect of temperature on life table parameters of Diaphania indica (Lep.: Pyralidae) under laboratory conditions

The cucumber moth, Diaphania indica (Saunders), is a tropical and sub-tropical pest on cucurbits and a key pest of greenhouse crops in Jiroft region of Iran. The effect of temperature on life table parameters of this pest was investigated in a growth chamber at four constant temperatures i.e. 20, 25, 30 and 35 ºC on Cucumis sativus L. The net reproductive rates (R0) were found to be 68.19, 120.977, 64.05 and 21.23, respectively. The intrinsic rates of increase (rm) were 0.0619, 0.1746, 0.1934 and 0.1491, and mean generation times (T) were 69.063, 27.45, 21.49 and 20.44, respectively. According to the results, for the intrinsic rate of increase (rm), finite rate of increase (λ) and intrinsic birth rate (b), the optimum temperature was 30 ºC and the least suitable temperature was 20 ºC

Developmental periods of Oenopia conglobata contaminata (Col.: Coccinellidae) reared on eggs of Sitotroga cerealella (Lep.: Gelechiidae) and Ephestia kuehniella (Lep.: Pyralidae) at constant temperatures

The coccinellid Oenopia conglobata contaminata (Menteries) is one of the most important predators of orchard pests in Iran. The effect of eggs of Sitotroga cereallela Olivier (Lep.: Gelechiidae) and Ephestia kuehniella Zeller (Lep.: Pyralidae) on development and survival of this beetle was studied and compared under laboratory conditions (five constant temperatures i.e., 22.5 ± 1, 25 ± 1, 27.5 ± 1, 30 ± 1 and 32.5 ± 1 °C 55 ± 5% relative humidity (R. H.) and a 16:8 h light: dark photoperiod). Total developmental time at the above-mentioned temperatures were 28.83 ± 0.17, 24.52 ± 0.37, 21,39 ± 0.21 17.92 ± 0.16 and 18.22 ± 0.29 days on S. cereallelaand27 ± 0.38, 23.32 ± 0.14, 19.57 ± 0.28, 16.14 ± 0.17 and 16.33 ± 0.05 days on E. kuehniella. The lower developmental thresholds (T0) of egg, larva, pupa and egg to adult on E. kuehniella were estimated15.02, 8.6, 7.48 and 8.55 ºC and the thermal constant for these periods calculated as 38.16, 222.22, 71.9 and 370.37 DD. The lower developmental thresholds on S. cereallela were found to be 13.79, 5.6, 5.82 and 6.54 ºC andthermal constant for the mentioned periods were 41.15, 277.77, 91.7, 454.54 DD, respectively. Although significant differences between developmental times at different temperatures exist, no significant differences was observed between 30 and 32.5 °C for two prey species. The results suggest that E. kuehniella serves as a more effective host than S. cereallela for rearing of coccinellid O. conglobata