Museum robots: multi-robot systems for public exhibition

Mobile robots provide a versatile platform for research, however they can also provide an interesting educational platform for public exhibition at museums. In general museums require exhibits that are both eye catching and exciting to the public whilst requiring a minimum of maintenance time from museum technicians. In many cases it is simply not possible to continuously change batteries and some method of supplying continous power is required. A powered flooring system is described that is capable of providing power continuously to a group of robots. Three different museum exhibit applications are described. All three robot exhibits are of a similar basic design although the exhibits are very different in appearance and behaviour. The durability and versatility of the robots also makes them extremely good candidates for long duration experiments such as those required by evolutionary robotics.

A framework towards a multi-modal fingerprinting scheme for multimedia assets

Fingerprinting is a well known approach for identifying multimedia data without having the original data present but instead what amounts to its essence or 'DNA'. Current approaches show insufficient deployment of various types of knowledge that could be brought to bear in providing a fingerprinting framework that remains effective, efficient and can accommodate both the whole as well as elemental protection at appropriate levels of abstraction to suit various Zones of Interest (ZoI) in an image or cross media artefact. The proposed framework aims to deliver selective composite fingerprinting that is powerfully aided by leveraging both multi-modal information as well as a rich spectrum of collateral context knowledge including both image-level collaterals and also the inevitably needed market intelligence knowledge such as customers' social networks interests profiling which we can deploy as a crucial component of our fingerprinting collateral knowledge.

Individual assets, market structure and the drivers of return

Much prior research on the structure and performance of UK real estate portfolios has relied on aggregated measures for sector and region. For these groupings to have validity, the performance of individual properties within each group should be similar. This paper analyses a sample of 1,200 properties using multiple discriminant analysis and cluster analysis techniques. It is shown that conventional property type and spatial classifications do not capture the variation in return behaviour at the individual building level. The major feature is heterogeneity - but there may be distinctions between growth and income properties and between single and multi-let properties that could help refine portfolio structures.

International evidence on the predictability of returns to securitized real estate assets: econometric models versus neural networks

The performance of various statistical models and commonly used financial indicators for forecasting securitised real estate returns are examined for five European countries: the UK, Belgium, the Netherlands, France and Italy. Within a VAR framework, it is demonstrated that the gilt-equity yield ratio is in most cases a better predictor of securitized returns than the term structure or the dividend yield. In particular, investors should consider in their real estate return models the predictability of the gilt-equity yield ratio in Belgium, the Netherlands and France, and the term structure of interest rates in France. Predictions obtained from the VAR and univariate time-series models are compared with the predictions of an artificial neural network model. It is found that, whilst no single model is universally superior across all series, accuracy measures and horizons considered, the neural network model is generally able to offer the most accurate predictions for 1-month horizons. For quarterly and half-yearly forecasts, the random walk with a drift is the most successful for the UK, Belgian and Dutch returns and the neural network for French and Italian returns. Although this study underscores market context and forecast horizon as parameters relevant to the choice of the forecast model, it strongly indicates that analysts should exploit the potential of neural networks and assess more fully their forecast performance against more traditional models.