Prediction of pedestrians routes within a built environment in normal conditions

Modelling and prediction of pedestrian routing behaviours within known built environments has recently attracted the attention of researchers across multiple disciplines, owing to the growing demand on urban resources and requirements for efficient use of public facilities. This study presents an investigation into pedestrians' routing behaviours within an indoor environment under normal, non-panic situations. A network-based method using constrained Delaunay triangulation is adopted, and a utility-based model employing dynamic programming is developed. The main contribution of this study is the formulation of an appropriate utility function that allows an effective application of dynamic programming to predict a series of consecutive waypoints within a built environment. The aim is to generate accurate sequence waypoints for the pedestrian walking path using only structural definitions of the environment as defined in a standard CAD format. The simulation results are benchmarked against those from the A* algorithm, and the outcome positively indicates the usefulness of the proposed method in predicting pedestrians' route selection activities. © 2014 Elsevier Ltd. All rights reserved.

Computational exploration of the biological basis of Black-Scholes expected utility function

It has often been argued that there exists an underlying biological basis of utility functions. Taking this line of argument a step further in this paper, we have aimed to computationally demonstrate the biological basis of the Black-Scholes functional form as applied to classical option pricing and hedging theory. The evolutionary optimality of the classical Black-Scholes function has been computationally established by means of a haploid genetic algorithm model. The objective was to minimize the dynamic hedging error for a portfolio of assets that is built to replicate the payoff from a European multi-asset option. The functional form that is seen to evolve over successive generations which best attains this optimization objective is the classical Black-Scholes function extended to a multiasset scenario.