Impatient in experiments, but patient in simulations: a challenge to the heckman-type model

Intertemporal labour–leisure choice models typically assume agents have a very low degree of impatience. Yet there is a lot of empirical evidence indicating a high degree of impatience. Using a life-cycle model of consumption–saving and labour–leisure choice, we show that even if an agent displays a relatively moderate degree of impatience, his labour supply choice delivers highly counterfactual patterns. We resolve this counterfactual finding by augmenting the standard model with a time-dependent marginal utility of leisure assumption that is consistent with some recent evidences from leisure studies. We also introduce various extensions and discuss their relative importance and associated challenges.

The impact of communications and understanding on the success of business/IT alignment

This article reports on an investigation of IS stakeholders communication and mutual understanding, and their impact on the success of business / IT alignment. In particular, by following a hermeneutic study of transcripts of two focus groups and several interviews conducted with senior business and IT executives, the paper explores the issues of modern business context and practices, project scope and structure, trust, language and nomenclature, and the barriers to the effective stakeholder communication and  understanding. The study results are finally compared against the standard model of business and IT alignment. The main unexpected finding being executives' pre-occupation with issues of "marginal" value to the alignment model, such as day-to-day management of communicative and understanding effectiveness, as opposed to the fundamental issues of strategy and infrastructure fit.

Analysis of the cost performance of structural building frames in Australia

The significance of this research is that it is the first comprehensive analysis of cost performance across Australia. It is well known that measuring cost performance is not an easy task; comparisons of building projects on a `like-for-like’ basis are uncommon, and rarely occur in the real world. However, this paper analyses 120 different structural frame models that represent various; structural designs, construction methods, grid spans, and locations.

The research produced price models that were representative of structural frames used in medium-rise non-residential buildings. It is based on pricing a number of standard building frame designs in five Australian cities. The results represent the cost of producing the same building in different locations, using similar building construction techniques. By utilizing a standard model, project variables like building quality, ground conditions and access were eradicated, thereby facilitating an unbiased comparison of cost performance. I addition, the results are an indicator of building productivity based on costs per square metre of various construction types.

This research provides the Australian industry with robust data about the relative cost performance of various structural building frames. In addition, this research has wider implications because the models may also become useful data for the measuring relative cost performance in other countries.

Can the choice of interpolation method explain the difference between swap prices and futures prices?

The standard model linking the swap rate to the rates in a contemporaneous strip of futures interest rate contracts typically produces biased estimates of the swap rate. Institutional differences usually require some form of interpolation to be employed and may in principle explain this empirical result. Using Australian data, we find evidence consistent with this explanation and show that model performance is greatly improved if an alternative interpolation method is used. In doing so, we also provide the first published Australian evidence on the accuracy of the futures-based approach to pricing interest rate swaps.

Inflation dynamics and New Keynesian Phillips Curve in Australia

The New Keynesian Phillips Curve (NKPC) is a standard model in the analysis of inflation dynamics. For the Australian economy, this study establishes the empirical evidence that the NKPC can explain the process of inflation dynamics and the price-setting mechanism. The trade shocks, such as the real exchange rate and the terms of trade, play an important role in inflation dynamics.

A fresh look at the validity of the diffusion approximation for modeling fluorescence spectroscopy in biological tissue

Fluorescence has become a widely used technique for applications in noninvasive diagnostic tissue spectroscopy. The standard model used for characterizing fluorescence photon transport in biological tissue is based on the diffusion approximation. On the premise that the total energy of excitation and fluorescent photon flows must be conserved, we derive the widely used diffusion equations in fluorescence spectroscopy and show that there must be an additional term to account for the transport of fluorescent photons. The significance of this additional term in modeling fluorescence spectroscopy in biological tissue is assessed.

Construction cost performance of structural frames in Australia

This research is concerned with the comparative cost of building structural frames in Australia. The research has been undertaken to evaluate the cost performance of a number of technologies that are typically used in medium-rise commercial buildings of ten storeys. The research methodology is based on pricing a number of standard building frame designs in five Australian cities. The results represent the cost of producing the same building using different building construction designs. By utilising a standard model, project variables like building quality, ground conditions and access were eradicated, thereby facilitating an unbiased comparison of cost performance. The second stage of the research invoiced a focus group of industry experts who were asked to validate the results of the cost study. In addition, participants of the focus group were asked to comment on the preferred construction practice for each of the typical building designs. Results suggest that post-tensioned in situ concrete frames have the best cost performance for most buildings. However, other designs can have good cost performance under some circumstances. Findings suggest that the Australian construction industry has long cultural preference for the use of in situ concrete in structural frames.

Obtain confidentiality or/and authenticity in Big Data by ID-based generalized signcryption

Recently, the Big Data paradigm has received considerable attention since it gives a great opportunity to mine knowledge from massive amounts of data. However, the new mined knowledge will be useless if data is fake, or sometimes the massive amounts of data cannot be collected due to the worry on the abuse of data. This situation asks for new security solutions. On the other hand, the biggest feature of Big Data is "massive", which requires that any security solution for Big Data should be "efficient". In this paper, we propose a new identity-based generalized signcryption scheme to solve the above problems. In particular, it has the following two properties to fit the efficiency requirement. (1) It can work as an encryption scheme, a signature scheme or a signcryption scheme as per need. (2) It does not have the heavy burden on the complicated certificate management as the traditional cryptographic schemes. Furthermore, our proposed scheme can be proven-secure in the standard model. © 2014 Elsevier Inc. All rights reserved.

FEACS: a flexible and efficient access control scheme for cloud computing

In the past few years, cloud computing has emerged as one of the most influential paradigms in the IT industry. As promising as it is, this paradigm brings forth many new challenges for data security because users have to outsource sensitive data on untrusted cloud servers for sharing. In this paper, to guarantee the confidentiality and security of data sharing in cloud environment, we propose a Flexible and Efficient Access Control Scheme (FEACS) based on Attribute-Based Encryption, which is suitable for fine-grained access control. Compared with existing state-of-the-art schemes, FEACS is more practical by following functions. First of all, considering the factor that the user membership may change frequently in cloud environment, FEACS has the capability of coping with dynamic membership efficiently. Secondly, full logic expression is supported to make the access policy described accurately and efficiently. Besides, we prove in the standard model that FEACS is secure based on the Decisional Bilinear Diffie-Hellman assumption. To evaluate the practicality of FEACS, we provide a detailed theoretical performance analysis and a simulation comparison with existing schemes. Both the theoretical analysis and the experimental results prove that our scheme is efficient and effective for cloud environment.

A strong provably secure IBE scheme without bilinear map

Identity-based encryption (IBE) allows one party to send ciphered messages to another using an arbitrary identity string as an encryption key. Since IBE does not require prior generation and distribution of keys, it greatly simplifies key management in public-key cryptography. According to the Menezes-Okamoto-Vanstone (MOV) reduction theory, the IBE scheme based on bilinear map loses the high efficiency of elliptic curve because of the requirement of large security parameters. Therefore, it is important to build a provably secure IBE scheme without bilinear map. To this end, this paper proposes an improved IBE scheme that is different from the previous schemes because this new scheme does not use symmetric encryption algorithm. Furthermore, it can be proven to be secure against adaptively chosen identity and chosen plaintext attacks in the standard model. Elaborated security and performance analysis demonstrate that this new scheme outperforms the previous ones in terms of the time complexity for encryption and decryption.

Efficient and secure attribute-based signature for monotone predicates

Attribute-based signature (ABS) is a novel cryptographic primitive, which can make the signing party sign a message with fine-grained control over identifying information. ABS only reveals the fact that the verified message must be signed by a user with a set of attributes satisfying a predicate. Thus, ABS can hide any identifying information and make fine-grained control on signing. Presently, many attribute-based signature schemes have been proposed, but most of them are not very efficient. Maji et al. recently presented a complete definition and construction about ABS for monotone predicates and showed three instantiations under their framework for ABS. Although the most practical one of their instantiations is efficient, the instantiation is constructed in the generic group model and has been proved to be insecure. Then, Okamoto et al. proposed an attribute-based signature scheme in the standard model, which can support generalized non-monotone predicates over access structure. However, their scheme is not efficient in practice. In this paper, we present a framework for ABS and show a detailed security model for ABS. Under our framework, we present an attribute-based signature scheme for monotone predicates in the standard model, where we choose the Waters’ signature scheme as the prototype of our attribute-based signature scheme. Compared with the Maji’s scheme in the generic group model, the proposed scheme is constructed in the standard model. Furthermore, compared with the Okamoto’s scheme, the proposed scheme is more efficient by decreasing the computation cost.

SEMD: secure and efficient message dissemination with policy enforcement in VANET

Vehicular ad hoc network (VANET) is an increasing important paradigm, which not only provides safety enhancement but also improves roadway system efficiency. However, the security issues of data confidentiality, and access control over transmitted messages in VANET have remained to be solved. In this paper, we propose a secure and efficient message dissemination scheme (SEMD) with policy enforcement in VANET, and construct an outsourcing decryption of ciphertext-policy attribute-based encryption (CP-ABE) to provide differentiated access control services, which makes the vehicles delegate most of the decryption computation to nearest roadside unit (RSU). Performance evaluation demonstrates its efficiency in terms of computational complexity, space complexity, and decryption time. Security proof shows that it is secure against replayable choosen-ciphertext attacks (RCCA) in the standard model.