Flexible rules cum constrained discretion: a new consensus in monetary policy

This paper demonstrates that recent influential contributions to monetary policy imply an emerging consensus whereby neither rigid rules nor complete discretion are found optimal. Instead, middle-ground monetary regimes based on rules (operative under 'normal' circumstances) to anchor inflation expectations over the long run, but designed with enough flexibility to mitigate the short-run effect of shocks (with communicated discretion in 'exceptional' circumstances temporarily overriding these rules), are gaining support in theoretical models and policy formulation and implementation. The opposition of 'rules versus discretion' has, thus, reappeared as the synthesis of 'rules cum discretion', in essence as inflation-forecast targeting. But such synthesis is not without major theoretical problems, as we argue in this contribution. Furthermore, the very recent real-world events have made it obvious that the inflation targeting strategy of monetary policy, which rests upon the new consensus paradigm in modern macroeconomics is at best a 'fair weather' model. In the turbulent economic climate of highly unstable inflation, deep financial crisis and world-wide, abrupt economic slowdown nowadays this approach needs serious rethinking to say the least, if not abandoning it altogether

Multivariable cluster analysis for high-speed industrial machinery

The overall operation and internal complexity of a particular production machinery can be depicted in terms of clusters of multidimensional points which describe the process states, the value in each point dimension representing a measured variable from the machinery. The paper describes a new cluster analysis technique for use with manufacturing processes, to illustrate how machine behaviour can be categorised and how regions of good and poor machine behaviour can be identified. The cluster algorithm presented is the novel mean-tracking algorithm, capable of locating N-dimensional clusters in a large data space in which a considerable amount of noise is present. Implementation of the algorithm on a real-world high-speed machinery application is described, with clusters being formed from machinery data to indicate machinery error regions and error-free regions. This analysis is seen to provide a promising step ahead in the field of multivariable control of manufacturing systems.

Cybernetics – the modern science of systems

This article has been written in memory of Norbert Wiener and is dedicated to him. Takes a look at how cybernetics provides an extremely useful framework for the control and operation of real-world systems. With the true advent of computers and simple communications, many more processes can and will be viewed from a systems standpoint. Examples are given of how cybernetics can be applied to industrial processes and how it is seen as an important, integral part of future systems science.

Learning enhanced 3D models for vehicle tracking

This paper presents an enhanced hypothesis verification strategy for 3D object recognition. A new learning methodology is presented which integrates the traditional dichotomic object-centred and appearance-based representations in computer vision giving improved hypothesis verification under iconic matching. The "appearance" of a 3D object is learnt using an eigenspace representation obtained as it is tracked through a scene. The feature representation implicitly models the background and the objects observed enabling the segmentation of the objects from the background. The method is shown to enhance model-based tracking, particularly in the presence of clutter and occlusion, and to provide a basis for identification. The unified approach is discussed in the context of the traffic surveillance domain. The approach is demonstrated on real-world image sequences and compared to previous (edge-based) iconic evaluation techniques.

Communicability across evolving networks

Many natural and technological applications generate time ordered sequences of networks, defined over a fixed set of nodes; for example time-stamped information about ‘who phoned who’ or ‘who came into contact with who’ arise naturally in studies of communication and the spread of disease. Concepts and algorithms for static networks do not immediately carry through to this dynamic setting. For example, suppose A and B interact in the morning, and then B and C interact in the afternoon. Information, or disease, may then pass from A to C, but not vice versa. This subtlety is lost if we simply summarize using the daily aggregate network given by the chain A-B-C. However, using a natural definition of a walk on an evolving network, we show that classic centrality measures from the static setting can be extended in a computationally convenient manner. In particular, communicability indices can be computed to summarize the ability of each node to broadcast and receive information. The computations involve basic operations in linear algebra, and the asymmetry caused by time’s arrow is captured naturally through the non-mutativity of matrix-matrix multiplication. Illustrative examples are given for both synthetic and real-world communication data sets. We also discuss the use of the new centrality measures for real-time monitoring and prediction.

The plastic self organising map

A novel extension to Kohonen's self-organising map, called the plastic self organising map (PSOM), is presented. PSOM is unlike any other network because it only has one phase of operation. The PSOM does not go through a training cycle before testing, like the SOM does and its variants. Each pattern is thus treated identically for all time. The algorithm uses a graph structure to represent data and can add or remove neurons to learn dynamic nonstationary pattern sets. The network is tested on a real world radar application and an artificial nonstationary problem.

Application of a hybrid tracking algorithm to motion analysis

An algorithm for tracking multiple feature positions in a dynamic image sequence is presented. This is achieved using a combination of two trajectory-based methods, with the resulting hybrid algorithm exhibiting the advantages of both. An optimizing exchange algorithm is described which enables short feature paths to be tracked without prior knowledge of the motion being studied. The resulting partial trajectories are then used to initialize a fast predictor algorithm which is capable of rapidly tracking multiple feature paths. As this predictor algorithm becomes tuned to the feature positions being tracked, it is shown how the location of occluded or poorly detected features can be predicted. The results of applying this tracking algorithm to data obtained from real-world scenes are then presented.

Investigating familiar interfaces to help older adults learn computer applications more easily

Many older adults wish to gain competence in using a computer, but many application interfaces are perceived as complex and difficult to use, deterring potential users from investing the time to learn them. Hence, this study looks at the potential of ‘familiar’ interface design which builds upon users’ knowledge of real world interactions, and applies existing skills to a new domain. Tools are provided in the form of familiar visual objects, and manipulated like real-world counterparts, rather than with buttons, icons and menus found in classic WIMP interfaces. This paper describes the formative evaluation of computer interactions that are based upon familiar real world tasks, which supports multitouch interaction, involves few buttons and icons, no menus, no right-clicks or double-clicks and no dialogs. Using an example of an email client to test the principles of using “familiarity”, the initial feedback was very encouraging, with 3 of the 4 participants being able to undertake some of the basic email tasks with no prior training and little or no help. The feedback has informed a number of refinements of the design principles, such as providing clearer affordance for visual objects. A full study is currently underway.

Experiments into biology-technology interaction

In this paper a look is taken at how the use of implant and electrode technology can be employed to create biological brains for robots, to enable human enhancement and to diminish the effects of certain neural illnesses. In all cases the end result is to increase the range of abilities of the recipients. An indication is given of a number of areas in which such technology has already had a profound effect, a key element being the need for a clear interface linking a biological brain directly with computer technology. The emphasis is placed on practical scientific studies that have been and are being undertaken and reported on. The area of focus is the use of electrode technology, where either a connection is made directly with the cerebral cortex and/or nervous system or where implants into the human body are involved. The paper also considers robots that have biological brains in which human neurons can be employed as the sole thinking machine for a real world robot body.

The future of human-machine interaction: implant technology

In this paper a look is taken at how the use of implant and electrode technology can be employed to create biological brains for robots, to enable human enhancement and to diminish the effects of certain neural illnesses. In all cases the end result is to increase the range of abilities of the recipients. An indication is given of a number of areas in which such technology has already had a profound effect, a key element being the need for a clear interface linking a biological brain directly with computer technology. The emphasis is placed on practical scientific studies that have been and are being undertaken and reported on. The area of focus is the use of electrode technology, where either a connection is made directly with the cerebral cortex and/or nervous system or where implants into the human body are involved. The paper also considers robots that have biological brains in which human neurons can be employed as the sole thinking machine for a real world robot body.

A method to weight three categories of adaptive thermal comfort

The adaptive thermal comfort theory considers people as active rather than passive recipients in response to ambient physical thermal stimuli, in contrast with conventional, heat-balance-based, thermal comfort theory. Occupants actively interact with the environments they occupy by means of utilizing adaptations in terms of physiological, behavioural and psychological dimensions to achieve ‘real world’ thermal comfort. This paper introduces a method of quantifying the physiological, behavioural and psychological portions of the adaptation process by using the analytic hierarchy process (AHP) based on the case studies conducted in the UK and China. Apart from three categories of adaptations which are viewed as criteria, six possible alternatives are considered: physiological indices/health status, the indoor environment, the outdoor environment, personal physical factors, environmental control and thermal expectation. With the AHP technique, all the above-mentioned criteria, factors and corresponding elements are arranged in a hierarchy tree and quantified by using a series of pair-wise judgements. A sensitivity analysis is carried out to improve the quality of these results. The proposed quantitative weighting method provides researchers with opportunities to better understand the adaptive mechanisms and reveal the significance of each category for the achievement of adaptive thermal comfort.

An overview of domestic energy models and a new approach with agent based modelling

Government targets for CO2 reductions are being progressively tightened, the Climate Change Act set the UK target as an 80% reduction by 2050 on 1990 figures. The residential sector accounts for about 30% of emissions. This paper discusses current modelling techniques in the residential sector: principally top-down and bottom-up. Top-down models work on a macro-economic basis and can be used to consider large scale economic changes; bottom-up models are detail rich to model technological changes. Bottom-up models demonstrate what is technically possible. However, there are differences between the technical potential and what is likely given the limited economic rationality of the typical householder. This paper recommends research to better understand individuals’ behaviour. Such research needs to include actual choices, stated preferences and opinion research to allow a detailed understanding of the individual end user. This increased understanding can then be used in an agent based model (ABM). In an ABM, agents are used to model real world actors and can be given a rule set intended to emulate the actions and behaviours of real people. This can help in understanding how new technologies diffuse. In this way a degree of micro-economic realism can be added to domestic carbon modelling. Such a model should then be of use for both forward projections of CO2 and to analyse the cost effectiveness of various policy measures.

Causal volumes in distributed virtual reality

Research to date has tended to concentrate on bandwidth considerations to increase scalability in distributed interactive simulation and virtual reality systems. This paper proposes that the major concern for latency in user interaction is that of the fundamental limit of communication rate due to the speed of light. Causal volumes and surfaces are introduced as a model of the limitations of causality caused by this fundamental delay. The concept of virtual world critical speed is introduced, which can be determined from the causal surface. The implications of the critical speed are discussed, and relativistic dynamics are used to constrain the object speed, in the same way speeds are bounded in the real world.

Attribution analysis of property portfolios

This paper aims to clarify the potential confusion about the application of attribution analysis to real estate portfolios. Its three primary objectives are: · To review, and as far as possible reconcile, the varying approaches to attribution analysis evident in the literature. · To give a clear statement of the purposes of attribution analysis, and its meaning for real-world property managers. · To show, using real portfolio data from IPD's UK performance measurement service, the practical implications of applying different attribution methods.

Mathematics as a tool in the Life Sciences

Teaching mathematics to students in the biological sciences is often fraught with difficulty. Students often discover mathematics to be a very 'dry' subject in which it is difficult to see the motivation of learning it given its often abstract application. In this paper I advocate the use of mathematical modelling as a method for engaging students in understanding the use of mathematics in helping to solve problems in the Biological Sciences. The concept of mathematics as a laboratory tool is introduced and the importance of presenting students with relevant, real-world examples of applying mathematics in the Biological Sciences is discussed.