Dynamic lifecycle strategies for target date retirement funds

Target date retirement funds have gained favor with retirement plan investors in recent years. Typically, these funds initially have a high allocation to stocks but move towards less volatile assets, such as bonds and cash, as the target retirement date approaches. Empirical research has generally found that a switch to low-risk assets prior to retirement can reduce the risk of confronting the most extreme negative outcomes. This article questions the rationale for lifecycle switching based solely on age or target retirement date as is the prevalent practice among target date funds. The authors argue that a dynamic switching strategy, which takes into consideration achieved investment returns, will produce superior returns for most investors compared to conventional lifecycle switching. In this article, the authors put forward a dynamic lifecycle switching strategy that is conditional on the attainment of the plan member's wealth accumulation objective at every stage of switching.

STALKERBOT : learning to navigate dynamic human environments by following people

Service robots that operate in human environments will accomplish tasks most efficiently and least disruptively if they have the capability to mimic and understand the motion patterns of the people in their workspace. This work demonstrates how a robot can create a humancentric navigational map online, and that this map re ects changes in the environment that trigger altered motion patterns of people. An RGBD sensor mounted on the robot is used to detect and track people moving through the environment. The trajectories are clustered online and organised into a tree-like probabilistic data structure which can be used to detect anomalous trajectories. A costmap is reverse engineered from the clustered trajectories that can then inform the robot's onboard planning process. Results show that the resultant paths taken by the robot mimic expected human behaviour and can allow the robot to respond to altered human motion behaviours in the environment.

A prototype system dynamic model for assessing the sustainability of construction projects

There is a worldwide demand for an increasingly sustainable built environment. This has resulted in the need for a more accurate evaluation of the level of sustainability of construction projects. To do this it involves the development of better measurement and benchmarking methods. One approach is to use a theoretical model to assess construction projects in terms of their sustainable development value (SDV) and sustainable development ability (SDA) for implementation in the project life cycle, where SDA measures the contribution of a project to development sustainability and as a major criterion for assessing its feasibility. This paper develops an improved SDA prototype model that incorporates the effects of dynamical factors on project sustainability. This involves the introduction of two major factors concerning technological advancement and changes in people's perceptions. A case study is used to demonstrate the procedures involved in simulation and modeling, one outcome of which is to demonstrate the greater influence of technological advancement on project sustainability than changes in perception.

Visualization of thermal characteristics around the absorber tube of a standard parabolic trough thermal collector by 3D simulation

Three dimensional conjugate heat transfer simulation of a standard parabolic trough thermal collector receiver is performed numerically in order to visualize and analyze the surface thermal characteristics. The computational model is developed in Ansys Fluent environment based on some simplified assumptions. Three test conditions are selected from the existing literature to verify the numerical model directly, and reasonably good agreement between the model and the test results confirms the reliability of the simulation. Solar radiation flux profile around the tube is also approximated from the literature. An in house macro is written to read the input solar flux as a heat flux wall boundary condition for the tube wall. The numerical results show that there is an abrupt variation in the resultant heat flux along the circumference of the receiver. Consequently, the temperature varies throughout the tube surface. The lower half of the horizontal receiver enjoys the maximum solar flux, and therefore, experiences the maximum temperature rise compared to the upper part with almost leveled temperature. Reasonable attributions and suggestions are made on this particular type of conjugate thermal system. The knowledge that gained so far from this study will be used to further the analysis and to design an efficient concentrator photovoltaic collector in near future.

Scheduling decisions and their dynamic consequences on construction performance

Construction practitioners often experience unexpected results of their scheduling-related decisions. This is mainly due to lack of understanding of the dynamic nature of construction system. However, very little attention has been given to its significant importance and few empirical studies have been undertaken on this issue. This paper, therefore, analyzes the effect of aggressive scheduling, overtime, resource adding, and schedule slippage on construction performance, focusing on workers’ reactions to those scheduling decisions. Survey data from 102 construction practitioners in 38 construction sites are used for the analysis. The results indicate that efforts to increase work rate by working overtime, resource adding, and aggressive scheduling can be offset due to losses in productivity and quality. Based on the research findings, practical guidelines are then discussed to help site managers to effectively deal with the dynamics of scheduling and improve construction performance.

Dynamic modeling for construction innovation

Previous research on construction innovation has commonly recognized the importance of the organizational climate and key individuals, often called “champions,” for the success of innovation. However, it rarely focuses on the role of participants at the project level and addresses the dynamics of construction innovation. This paper therefore presents a dynamic innovation model that has been developed using the concept of system dynamics. The model incorporates the influence of several individual and situational factors and highlights two critical elements that drive construction innovations: (1) normative pressure created by project managers through their championing behavior, and (2) instrumental motivation of team members facilitated by a supportive organizational climate. The model is qualified empirically, using the results of a survey of project managers and their project team members working for general contractors in Singapore, by assessing casual relationships for key model variables. Finally, the paper discusses the implications of the model structure for fostering construction innovations.

Soil-pile interaction in deep layered marine sediment under seismic excitation

Under seismic loads neither the response of the pile nor the response of ground are independent of each other, contrary what is normally assumed. In seismic design of buildings, dynamic response of a structure is determined by assuming a fixed base on sub-grade and neglecting the physical interaction between foundation and soil profile in which it is embedded. However, the seismic response of pile foundations in vibration sensitive soil profiles is significantly affected by the behaviour of supporting soil. This research uses validated Finite Element techniques to simulate the seismic behaviour of pile foundations embedded in multilayered vibration sensitive soils.

Effect of driving conditions and suspension parameters on dynamic load-sharing of longitudinal-connected air suspensions

The objective of this research was to investigate the effects of driving conditions and suspension parameters on dynamic load-sharing of longitudinal-connected air suspensions of a tri-axle semi-trailer. A novel nonlinear model of a multi-axle semi-trailer with longitudinal-connected air suspension was formulated based on fluid mechanics and thermodynamics and was validated through test results. The effects of driving conditions and suspension parameters on dynamic load-sharing and road-friendliness of the semi-trailer were analyzed. Simulation results indicate that the road-friendliness metric-DLC (dynamic load coefficient) is not always in accordance with the load-sharing metric-DLSC (dynamic load-sharing coefficient). The effect of employing larger air lines and connectors on the DLSC optimization ratio gives varying results as road roughness increases and as driving speed increases. When the vehicle load reduces, or the static pressure increases, the DLSC optimization ratio declines monotonically. The results also indicate that if the air line diameter is always assumed to be larger than the connector diameter, the influence of air line diameter on load-sharing is more significant than that of the connector.

Efficient articulated trajectory reconstruction using dynamic programming and filters

This paper considers the problem of reconstructing the motion of a 3D articulated tree from 2D point correspondences subject to some temporal prior. Hitherto, smooth motion has been encouraged using a trajectory basis, yielding a hard combinatorial problem with time complexity growing exponentially in the number of frames. Branch and bound strategies have previously attempted to curb this complexity whilst maintaining global optimality. However, they provide no guarantee of being more efficient than exhaustive search. Inspired by recent work which reconstructs general trajectories using compact high-pass filters, we develop a dynamic programming approach which scales linearly in the number of frames, leveraging the intrinsically local nature of filter interactions. Extension to affine projection enables reconstruction without estimating cameras.

Adaptive dynamic path re-planning RRT algorithms with game theory for UAVs

The main aim of this paper is to describe an adaptive re-planning algorithm based on a RRT and Game Theory to produce an efficient collision free obstacle adaptive Mission Path Planner for Search and Rescue (SAR) missions. This will provide UAV autopilots and flight computers with the capability to autonomously avoid static obstacles and No Fly Zones (NFZs) through dynamic adaptive path replanning. The methods and algorithms produce optimal collision free paths and can be integrated on a decision aid tool and UAV autopilots.

Dynamic capabilities and performance : strategy, structure and environment

Dynamic capabilities are widely considered to incorporate those processes that enable organizations to sustain superior performance over time. In this paper, we argue theoretically and demonstrate empirically that these effects are contingent on organizational structure and the competitive intensity in the market. Results from partial least square structural equation modeling (PLS-SEM) analyses indicate that organic organizational structures facilitate the impact of dynamic capabilities on organizational performance. Furthermore, we find that the performance effects of dynamic capabilities are contingent on the competitive intensity faced by firms. Our findings demonstrate the performance effects of internal alignment between organizational structure and dynamic capabilities, as well as the external fit of dynamic capabilities with competitive intensity. We outline the advantages of PLS-SEM for modeling latent constructs, such as dynamic capabilities, and conclude with managerial implications.

Towards a Dynamic IS Function

With the growing importance of IS for organizations and the continuous stream of new IT developments, the IS function in organizations becomes more critical but is also more challenged. For example, how should the IS function deal with the consumerization of IT or what is the added value of the IS function when it comes to SaaS and the Cloud? In this paper we argue that IS research is in need of a dynamic perspective on the IS function. The IS function has to become more focused on building and adapting IS capabilities in a changing environment. We discuss that there has been an overreliance on the Resource Based View so far for understanding the IS function and capabilities and introduce Dynamic Capabilities Theory as an additional theoretical perspective, which has only been limitedly addressed in IS literature yet. We present a first conceptualization of the dynamic IS function and discuss IS capabilities frameworks and individual IS capabilities from a dynamic perspective. These initial insights demonstrate the contribution of a dynamic perspective on the IS function itself.

Adaption of horses to a novel dynamic feeding system : movement and behavioural responses

Reasons for performing study: Many domestic horses and ponies are sedentary and obese due to confinement to small paddocks and stables and a diet of infrequent, high-energy rations. Severe health consequences can be associated with this altered lifestyle. Objectives: The aims of this study were to investigate the ability of horses to learn to use a dynamic feeder system and determine the movement and behavioural responses of horses to the novel system. Methods: A dynamic feed station was developed to encourage horses to exercise in order to access ad libitum hay. Five pairs of horses (n = 10) were studied using a randomised crossover design with each pair studied in a control paddock containing a standard hay feeder and an experimental paddock containing the novel hay feeder. Horse movement was monitored by a global positioning system (GPS) and horses observed and their ability to learn to use the system and the behavioural responses to its use assessed. Results: With initial human intervention all horses used the novel feeder within 1 h. Some aggressive behaviour was observed between horses not well matched in dominance behaviour. The median distance walked by the horses was less (P = 0.002) during a 4 h period (117 [57–185] m) in the control paddock than in the experimental paddock (630 [509–719] m). Conclusions: The use of an automated feeding system promotes increased activity levels in horses housed in small paddocks, compared with a stationary feeder.

Spectrum sensing optimisation for dynamic primary user signal

We propose a multi-layer spectrum sensing optimisation algorithm to maximise sensing efficiency by computing the optimal sensing and transmission durations for a fast changing, dynamic primary user. Dynamic primary user traffic is modelled as a random process, where the primary user changes states during both the sensing period and transmission period to reflect a more realistic scenario. Furthermore, we formulate joint constraints to correctly reflect interference to the primary user and lost opportunity of the secondary user during the transmission period. Finally, we implement a novel duty cycle based detector that is optimised with respect to PU traffic to accurately detect primary user activity during the sensing period. Simulation results show that unlike currently used detection models, the proposed algorithm can jointly optimise the sensing and transmission durations to simultaneously satisfy the optimisation constraints for the considered primary user traffic.

Representative learning design in dynamic interceptive actions

The overarching aim of this thesis was to investigate how processes of perception and action emerge under changing informational constraints during performance of multi-articular interceptive actions. Interceptive actions provide unique opportunities to study processes of perception and action in dynamic performance environments. The movement model used to exemplify the functionally coupled relationship between perception and action, from an ecological dynamics perspective, was cricket batting. Ecological dynamics conceptualises the human body as a complex system composed of many interacting sub-systems, and perceptual and motor system degrees of freedom, which leads to the emergence of patterns of behaviour under changing task constraints during performance. The series of studies reported in the Chapters of this doctoral thesis contributed to understanding of human behaviour by providing evidence of key properties of complex systems in human movement systems including self-organisation under constraints and meta-stability. Specifically, the studies: i) demonstrated how movement organisation (action) and visual strategies (perception) of dynamic human behaviour are constrained by changing ecological (especially informational) task constraints; (ii) provided evidence for the importance of representative design in experiments on perception and action; and iii), provided a principled theoretical framework to guide learning design in acquisition of skill in interceptive actions like cricket batting.