The present value model says that an asset's price equals the sum of current and future discounted expected future payoffs from ownership of the asset. I explore the limits of the present value model by testing its ability to explain the pricing of storable commodities. For commodities the payoff stream is the convenience yield that accrues from holding inventories, and it can be measured direc...

Abstract Several studies show a demand for further transfer of Industry 4.0 concepts and technologies into practice. This paper describes how companies can be supported methodologically to identify individual opportunities optimization within their future smart factories. Existing methods are screened, recombined, enhanced create sufficient demand-oriented approach, based on the lean value stre...

This paper concerns the applicability of reputations systems for assessing Quality of Experience (QoE) for web services in Future Internet. Reputation systems provide mechanisms to manage subjective opinions in societies and yield general scoring of a particular behavior. Thus, they are likely to become an important ingredient of Future Internet. Parameters being under evaluation by reputation ...

Papers published in Hydrology and Earth System Sciences Discussions are under open-access review for the journal Hydrology and Earth System Sciences Abstract Spatial patterns of water chemistry along stream networks can be quantified using synoptic or " snapshot " sampling. The basic idea is to sample stream water at many points over a relatively short period of time. Even for intense sampling ...

Our sensory observations represent a delayed, noisy estimate of the environment. Delay causes instability and noise causes uncertainty. To deal with these problems, theory suggests that the processing of sensory information by the brain should be probabilistic: to start a movement or to alter it midflight, our brain should make predictions about the near future of sensory states and then contin...

The Plywood company in this study was able to produce 6,000m3/ year of plywood, but during 2018 and 2019 only provide 2,905.14 m3/year 1,120.73 m3/year. Production is far below the production capacity. This research will apply lean manufacturing concept process a plywood company. uses value stream mapping (VSM), analysis tools (VALSAT), activity (PAM), Pareto diagrams, root cause analysis. It f...