The efficacy of the Sortino ratio and other benchmarked performance measures under skewed return distributions

This paper will investigate the suitability of existing performance measures under the assumption of a clearly defined benchmark. A range of measures are examined including the Sortino Ratio, the Sharpe Selection ratio (SSR), the Student’s t-test and a decay rate measure. A simulation study is used to assess the power and bias of these measures based on variations in sample size and mean performance of two simulated funds. The Sortino Ratio is found to be the superior performance measure exhibiting more power and less bias than the SSR when the distribution of excess returns are skewed.

Focus-score weighted super-resolution for uncooperative iris recognition at a distance and on the move

Uncooperative iris identification systems at a distance and on the move often suffer from poor resolution and poor focus of the captured iris images. The lack of pixel resolution and well-focused images significantly degrades the iris recognition performance. This paper proposes a new approach to incorporate the focus score into a reconstruction-based super-resolution process to generate a high resolution iris image from a low resolution and focus inconsistent video sequence of an eye. A reconstruction-based technique, which can incorporate middle and high frequency components from multiple low resolution frames into one desired super-resolved frame without introducing false high frequency components, is used. A new focus assessment approach is proposed for uncooperative iris at a distance and on the move to improve performance for variations in lighting, size and occlusion. A novel fusion scheme is then proposed to incorporate the proposed focus score into the super-resolution process. The experiments conducted on the The Multiple Biometric Grand Challenge portal database shows that our proposed approach achieves an EER of 2.1%, outperforming the existing state-of-the-art averaging signal-level fusion approach by 19.2% and the robust mean super-resolution approach by 8.7%.

Weighted fairness with MCR guarantee and a general-purpose explicit rate allocation algorithm for ATM ABR service

In this paper, weighted fair rate allocation for ATM available bit rate (ABR) service is discussed with the concern of the minimum cell rate (MCR). Weighted fairness with MCR guarantee has been discussed recently in the literature. In those studies, each ABR virtual connection (VC) is first allocated its MCR, then the remaining available bandwidth is further shared among ABR VCs according to their weights. For the weighted fairness defined in this paper, the bandwidth is first allocated according to each VC's weight; if a VC's weighted share is less than its MCR, it should be allocated its MCR instead of the weighted share. This weighted fairness with MCR guarantee is referred to as extended weighted (EXW) fairness. Certain theoretical issues related to EXW, such as its global solution and bottleneck structure, are first discussed in the paper. A distributed explicit rate allocation algorithm is then proposed to achieve EXW fairness in ATM networks. The algorithm is a general-purpose explicit rate algorithm in the sense that it can realise almost all the fairness principles proposed for ABR so far whilst only minor modifications may be needed.

Perfusion model system to generate engineered grafts with controlled cellular distributions

Engineered tissue grafts, which mimic the spatial variations of cell density and extracellular matrix present in native tissues, could facilitate more efficient tissue regeneration and integration. We previously demonstrated that cells could be uniformly seeded throughout a 3D scaffold having a random pore architecture using a perfusion bioreactor2. In this work, we aimed to generate 3D constructs with defined cell distributions based on rapid prototyped scaffolds manufactured with a controlled gradient in porosity. Computational models were developed to assess the influence of fluid flow, associated with pore architecture and perfusion regime, on the resulting cell distribution.

Connecting users and items with weighted tags for personalized item recommendations

Social tags are an important information source in Web 2.0. They can be used to describe users’ topic preferences as well as the content of items to make personalized recommendations. However, since tags are arbitrary words given by users, they contain a lot of noise such as tag synonyms, semantic ambiguities and personal tags. Such noise brings difficulties to improve the accuracy of item recommendations. To eliminate the noise of tags, in this paper we propose to use the multiple relationships among users, items and tags to find the semantic meaning of each tag for each user individually. With the proposed approach, the relevant tags of each item and the tag preferences of each user are determined. In addition, the user and item-based collaborative filtering combined with the content filtering approach are explored. The effectiveness of the proposed approaches is demonstrated in the experiments conducted on real world datasets collected from Amazon.com and citeULike website.

A hybrid recommender systems based on weighted tags

Social tags in web 2.0 are becoming another important information source to describe the content of items as well as to profile users’ topic preferences. However, as arbitrary words given by users, tags contains a lot of noise such as tag synonym and semantic ambiguity a large number personal tags that only used by one user, which brings challenges to effectively use tags to make item recommendations. To solve these problems, this paper proposes to use a set of related tags along with their weights to represent semantic meaning of each tag for each user individually. A hybrid recommendation generation approaches that based on the weighted tags are proposed. We have conducted experiments using the real world dataset obtained from Amazon.com. The experimental results show that the proposed approaches outperform the other state of the art approaches.

Adding a receding horizon to Locally Weighted Regression for learning robot control

There have been notable advances in learning to control complex robotic systems using methods such as Locally Weighted Regression (LWR). In this paper we explore some potential limits of LWR for robotic applications, particularly investigating its application to systems with a long horizon of temporal dependence. We define the horizon of temporal dependence as the delay from a control input to a desired change in output. LWR alone cannot be used in a temporally dependent system to find meaningful control values from only the current state variables and output, as the relationship between the input and the current state is under-constrained. By introducing a receding horizon of the future output states of the system, we show that sufficient constraint is applied to learn good solutions through LWR. The new method, Receding Horizon Locally Weighted Regression (RH-LWR), is demonstrated through one-shot learning on a real Series Elastic Actuator controlling a pendulum.

Exponentiated gradient algorithms for large-margin structured classification

We consider the problem of structured classification, where the task is to predict a label y from an input x, and y has meaningful internal structure. Our framework includes supervised training of Markov random fields and weighted context-free grammars as special cases. We describe an algorithm that solves the large-margin optimization problem defined in [12], using an exponential-family (Gibbs distribution) representation of structured objects. The algorithm is efficient—even in cases where the number of labels y is exponential in size—provided that certain expectations under Gibbs distributions can be calculated efficiently. The method for structured labels relies on a more general result, specifically the application of exponentiated gradient updates [7, 8] to quadratic programs.