Pairs trading profits in commodity futures markets

This study employs a pairs trading investment strategy on daily commodity futures returns. The study reveals that pairs trading in similarly related commodity futures earns statistically significant excess returns with commensurate volatility. The excess returns from pairs trading in commodity futures are unrelated to conventional market risk factors and they are not associated with classic contrarian investing. The evidence of pairs trading reflect compensation to arbitrageurs for enforcing the law of one price in similarly related market efficiency.

Obstacle detection using optical flow

Motion has been examined in biology to be a critical component for obstacle avoidance and navigation. In particular, optical flow is a powerful motion cue that has been exploited in many biological systems for survival. In this paper, we investigate an obstacle detection system that uses optical flow to obtain range information to objects. Our experimental results demonstrate that optical flow is capable of providing good obstacle information but has obvious failure modes. We acknowledge that our optical flow system has certain disadvantages and cannot be solely used for navigation. Instead, we believe that optical flow is a critical visual subsystem used when moving at reason- able speeds. When combined with other visual subsystems, considerable synergy can result.

Learning to avoid indoor obstacles from optical flow

Optical flow (OF) is a powerful motion cue that captures the fusion of two important properties for the task of obstacle avoidance − 3D self-motion and 3D environmental surroundings. The problem of extracting such information for obstacle avoidance is commonly addressed through quantitative techniques such as time-to-contact and divergence, which are highly sensitive to noise in the OF image. This paper presents a new strategy towards obstacle avoidance in an indoor setting, using the combination of quantitative and structural properties of the OF field, coupled with the flexibility and efficiency of a machine learning system.The resulting system is able to effectively control the robot in real-time, avoiding obstacles in familiar and unfamiliar indoor environments, under given motion constraints. Furthermore, through the examination of the networks internal weights, we show how OF properties are being used toward the detection of these indoor obstacles.

Distribution of benefits of irrigation induced technological changes and commodity markets : new evidence

A plethora of literature exists on irrigation development. However, only a few studies analyse the distributional issues associated with irrigation induced technological changes (IITC) in the context of commodity markets. Furthermore, these studies deal with only the theoretical arguments and to date no proper investigation has been conducted to examine the long-term benefits of adopting modern irrigation technology. This study investigates the long-term benefit changes of irrigation induced technological changes using data from Sri Lanka with reference to rice farming. The results show that (1) adopting modern technology on irrigation increases the overall social welfare through consumption of a larger quantity at a lower cost (2) the magnitude, sensitivity and distributional gains depend on the price elasticity of demand and supply as well as the size of the marketable surplus (3) non-farm sector gains are larger than farm sector gains (4) the distribution of the benefits among different types of producers depend on the magnitude of the expansion of the irrigated areas as well as the competition faced by traditional farmers (5) selective technological adoption and subsidies have a detrimental effect on the welfare of other producers who do not enjoy the same benefits (6) the short-term distributional effects are more severe than the long-term effects among different groups of farmers.

Virtual force feedback teleoperation of the InsectBot using optical flow

This paper proposes the use of optical flow from a moving robot to provide force feedback to an operator’s joystick to facilitate collision free teleoperation. Optical flow is measured by a pair of wide angle cameras on board the vehicle and used to generate a virtual environmental force that is reflected to the user through the joystick, as well as feeding back into the control of the vehicle. We show that the proposed control is dissipative and prevents the vehicle colliding with the environment as well as providing the operator with a natural feel for the remote environment. Experimental results are provided on the InsectBot holonomic vehicle platform.

A new framework for force feedback teleoperation of robotic vehicles based on optical flow

This paper proposes the use of optical flow from a moving robot to provide force feedback to an operator's joystick to facilitate collision free teleoperation. Optic flow is measured by wide angle cameras on board the vehicle and used to generate a virtual environmental force that is reflected to the user through the joystick, as well as feeding back into the control of the vehicle. The coupling between optical flow (velocity) and force is modelled as an impedance - in this case an optical impedance. We show that the proposed control is dissipative and prevents the vehicle colliding with the environment as well as providing the operator with a natural feel for the remote environment. The paper focuses on applications to aerial robotics vehicles, however, the ideas apply directly to other force actuated vehicles such as submersibles or space vehicles, and the authors believe the approach has potential for control of terrestrial vehicles and even teleoperation of manipulators. Experimental results are provided for a simulated aerial robot in a virtual environment controlled by a haptic joystick.

Dynamic Image-based visual servo control using centroid and optic flow features

This paper considers the question of designing a fully image-based visual servo control for a class of dynamic systems. The work is motivated by the ongoing development of image-based visual servo control of small aerial robotic vehicles. The kinematics and dynamics of a rigid-body dynamical system (such as a vehicle airframe) maneuvering over a flat target plane with observable features are expressed in terms of an unnormalized spherical centroid and an optic flow measurement. The image-plane dynamics with respect to force input are dependent on the height of the camera above the target plane. This dependence is compensated by introducing virtual height dynamics and adaptive estimation in the proposed control. A fully nonlinear adaptive control design is provided that ensures asymptotic stability of the closed-loop system for all feasible initial conditions. The choice of control gains is based on an analysis of the asymptotic dynamics of the system. Results from a realistic simulation are presented that demonstrate the performance of the closed-loop system. To the author's knowledge, this paper documents the first time that an image-based visual servo control has been proposed for a dynamic system using vision measurement for both position and velocity.

Combined optic-flow and stereo-based navigation of urban canyons for a UAV

We present a novel vision-based technique for navigating an Unmanned Aerial Vehicle (UAV) through urban canyons. Our technique relies on both optic flow and stereo vision information. We show that the combination of stereo and optic-flow (stereo-flow) is more effective at navigating urban canyons than either technique alone. Optic flow from a pair of sideways-looking cameras is used to stay centered in a canyon and initiate turns at junctions, while stereo vision from a forward-facing stereo head is used to avoid obstacles to the front. The technique was tested in full on an autonomous tractor at CSIRO and in part on the USC autonomous helicopter. Experimental results are presented from these two robotic platforms operating in outdoor environments. We show that the autonomous tractor can navigate urban canyons using stereoflow, and that the autonomous helicopter can turn away from obstacles to the side using optic flow. In addition, preliminary results show that a single pair of forward-facing fisheye cameras can be used for both stereo and optic flow. The center portions of the fisheye images are used for stereo, while flow is measured in the periphery of the images.

Specifying and enforcing a fine-grained information flow policy : model and experiments

In this paper we present a model for defining and enforcing a fine-grained information flow policy. We describe how the policy can be enforced on a typical computer and present experiments using the proposed model. A key feature of the model is that it allows the expression of rules which detail precisely which information elements are allowed to mix together. For example, the model allows the expression of a policy which forbids a doctor from mixing the personal medical details of the patients. The enforcement mechanisms tracks and records information flows within the system so that dynamic changes to the policy can be made with respect to information elements which may have propagated to different locations in the system.

Active flow control bump design using hybrid Nash-game coupled to evolutionary algorithms

In this paper, the optimal design of an active flow control device; Shock Control Bump (SCB) on suction and pressure sides of transonic aerofoil to reduce transonic total drag is investigated. Two optimisation test cases are conducted using different advanced Evolutionary Algorithms (EAs); the first optimiser is the Hierarchical Asynchronous Parallel Evolutionary Algorithm (HAPMOEA) based on canonical Evolutionary Strategies (ES). The second optimiser is the HAPMOEA is hybridised with one of well-known Game Strategies; Nash-Game. Numerical results show that SCB significantly reduces the drag by 30% when compared to the baseline design. In addition, the use of a Nash-Game strategy as a pre-conditioner of global control saves computational cost up to 90% when compared to the first optimiser HAPMOEA.