A modular head/eye platform for real-time reactive vision

This paper describes the design, implementation and testing of a high speed controlled stereo “head/eye” platform which facilitates the rapid redirection of gaze in response to visual input. It details the mechanical device, which is based around geared DC motors, and describes hardware aspects of the controller and vision system, which are implemented on a reconfigurable network of general purpose parallel processors. The servo-controller is described in detail and higher level gaze and vision constructs outlined. The paper gives performance figures gained both from mechanical tests on the platform alone, and from closed loop tests on the entire system using visual feedback from a feature detector.

Systematic property risk: quantifying UK property betas 1983-2005

The increased frequency in reporting UK property performance figures, coupled with the acceptance of the IPD database as the market standard, has enabled property to be analysed on a comparable level with other more frequently traded assets. The most widely utilised theory for pricing financial assets, the Capital Asset Pricing Model (CAPM), gives market (systematic) risk, beta, centre stage. This paper seeks to measure the level of systematic risk (beta) across various property types, market conditions and investment holding periods. This paper extends the authors’ previous work on investment holding periods and how excess returns (alpha) relate to those holding periods. We draw on the uniquely constructed IPD/Gerald Eve transactions database, containing over 20,000 properties over the period 1983-2005. This research allows us to confirm our initial findings that properties held over longer periods perform in line with overall market performance. One implication of this is that over the long-term performance may be no different from an index tracking approach.