Analyzing interrelated stochastic trend and seasonality on the example of energy trading data

The correct modelling of long- and short-term seasonality is a very interesting issue. The choice between the deterministic and stochastic modelling of trend and seasonality and their implications are as relevant as the case of deterministic and stochastic trends itself. The study considers the special case when the stochastic trend and seasonality do not evolve independently and the usual differencing filters do not apply. The results are applied to the day-ahead (spot) trading data of some main European energy exchanges (power and natural gas).

Analyzing interrelated stochastic trend and seasonality on the example of energy trading data

The correct modelling of long- and short-term seasonality is a very interesting issue. The choice between the deterministic and stochastic modelling of trend and seasonality and their implications are as relevant as the case of deterministic and stochastic trends itself. The study considers the special case when the stochastic trend and seasonality do not evolve independently and the usual differencing filters do not apply. The results are applied to the day-ahead (spot) trading data of some main European energy exchanges (power and natural gas).

Arctic ecosystem responses to changes in water availability and warming: Short and long-term responses

Arctic soils store close to 14% of the global soil carbon. Most of arctic carbon is stored below ground in the permafrost. With climate warming the decomposition of the soil carbon could represent a significant positive feedback to global greenhouse warming. Recent evidence has shown that the temperature of the Arctic is already increasing, and this change is associated mostly with anthropogenic activities. Warmer soils will contribute to permafrost degradation and accelerate organic matter decay and thus increase the flux of carbon dioxide and methane into the atmosphere. Temperature and water availability are also important drivers of ecosystem performance, but effects can be complex and in opposition. Temperature and moisture changes can affect ecosystem respiration (ER) and gross primary productivity (GPP) independently; an increase in the net ecosystem exchange can be a result of either a decrease in ER or an increase in GPP. Therefore, understanding the effects of changes in ecosystem water and temperature on the carbon flux components becomes key to predicting the responses of the Arctic to climate change. The overall goal of this work was to determine the response of arctic systems to simulated climate change scenarios with simultaneous changes in temperature and moisture. A temperature and hydrological manipulation in a naturally-drained lakebed was used to assess the short-term effect of changes in water and temperature on the carbon cycle. Also, as part of International Tundra Experiment Network (ITEX), I determined the long-term effect of warming on the carbon cycle in a natural hydrological gradient established in the mid 90's. I found that the carbon balance is highly sensitive to short-term changes in water table and warming. However, over longer time periods, hydrological and temperature changed soil biophysical properties, nutrient cycles, and other ecosystem structural and functional components that down regulated GPP and ER, especially in wet areas.

Short- and long-term effects of habitat fragmentation differ but are predicted by response to the matrix

Habitat loss and fragmentation are major threats to biodiversity and ecosystem processes. Our current understanding of the impacts of habitat loss and fragmentation is based largely on studies that focus on either short-term or long-term responses. Short-term responses are often used to predict long-term responses and make management decisions. The lack of studies comparing short- and long-term responses to fragmentation means we do not adequately understand when and how well short-term responses can be extrapolated to predict long-term responses, and when or why they cannot. To address this gap, we used data from one of the world's longest-running fragmentation experiments, The Wog Wog Habitat Fragmentation Experiment. Using data for carabid beetles, we found that responses in the long term (more than 22 years post-fragmentation ~ 22 generations) often contrasted markedly with those in the short term (five years post-fragmentation). The total abundance of all carabids, species richness and the occurrence of six species declined in the short term in the fragments but increased over the long term. The occurrence of three species declined initially and continued to decline, whilst another species was positively affected initially but decreased in the long term. Species' responses to the matrix that surrounds the fragments strongly predicted both the direction (increase/decline in occurrence) and magnitude of their responses to fragmentation. Additionally, species' responses to the matrix were somewhat predicted by their preferences for different types of native habitat (open vs. shaded). Our study highlights the degree of the matrix's influence in fragmented landscapes, and how this influence can change over time. We urge caution in using short-term responses to forecast long-term responses in cases where the matrix a) impacts species' responses to fragmentation (by isolating them, creating new habitat or altering fragment habitat) and b) is likely to change through time. This article is protected by copyright. All rights reserved.

Dopamine and visually regulated eye growth in chick

Retinal image properties such as contrast and spatial frequency play important roles in the development of normal vision. For example, visual environments comprised solely of low contrast and/or low spatial frequencies induce myopia. The visual image is processed by the retina and it then locally controls eye growth. In terms of the retinal neurotransmitters that link visual stimuli to eye growth, there is strong evidence to suggest involvement of the retinal dopamine (DA) system. For example, effectively increasing retinal DA levels by using DA agonists can suppress the development of form-deprivation myopia (FDM). However, whether visual feedback controls eye growth by modulating retinal DA release, and/or some other factors, is still being elucidated. This thesis is chiefly concerned with the relationship between the dopaminergic system and retinal image properties in eye growth control. More specifically, whether the amount of retinal DA release reduces as the complexity of the image degrades was determined. For example, we investigated whether the level of retinal DA release decreased as image contrast decreased. In addition, the effects of spatial frequency, spatial energy distribution slope, and spatial phase on retinal DA release and eye growth were examined. When chicks were 8-days-old, a cone-lens imaging system was applied monocularly (+30 D, 3.3 cm cone). A short-term treatment period (6 hr) and a longer-term treatment period (4.5 days) were used. The short-term treatment tests for the acute reduction in DA release by the visual stimulus, as is seen with diffusers and lenses, whereas the 4.5 day point tests for reduction in DA release after more prolonged exposure to the visual stimulus. In the contrast study, 1.35 cyc/deg square wave grating targets of 95%, 67%, 45%, 12% or 4.2% contrast were used. Blank (0% contrast) targets were included for comparison. In the spatial frequency study, both sine and square wave grating targets with either 0.017 cyc/deg and 0.13 cyc/deg fundamental spatial frequencies and 95% contrast were used. In the spectral slope study, 30% root-mean-squared (RMS) contrast fractal noise targets with spectral fall-off of 1/f0.5, 1/f and 1/f2 were used. In the spatial alignment study, a structured Maltese cross (MX) target, a structured circular patterned (C) target and the scrambled versions of these two targets (SMX and SC) were used. Each treatment group comprised 6 chicks for ocular biometry (refraction and ocular dimension measurement) and 4 for analysis of retinal DA release. Vitreal dihydroxyphenylacetic acid (DOPAC) was analysed through ion-paired reversed phase high performance liquid chromatography with electrochemical detection (HPLC-ED), as a measure of retinal DA release. For the comparison between retinal DA release and eye growth, large reductions in retinal DA release possibly due to the decreased light level inside the cone-lens imaging system were observed across all treated eyes while only those exposed to low contrast, low spatial frequency sine wave grating, 1/f2, C and SC targets had myopic shifts in refraction. Amongst these treatment groups, no acute effect was observed and longer-term effects were only found in the low contrast and 1/f2 groups. These findings suggest that retinal DA release does not causally link visual stimuli properties to eye growth, and these target induced changes in refractive development are not dependent on the level of retinal DA release. Retinal dopaminergic cells might be affected indirectly via other retinal cells that immediately respond to changes in the image contrast of the retinal image.

Strategic short termism as an issue of top-teams’ temporal orientation

Short-termism among firms, the tendency to excessively discount long-term benefits and favour less valuable short-term benefits, has been a prominent issue in business and public policy debates but research to date has been inconclusive. We study how managers frame, interpret, and resolve problems of intertemporal choice in actual decisions by using computer aided text analysis to measure the frequency of top-team temporal references in 1653 listed Australian firms between 1992-2005. Contrary to short-termism arguments we find evidence of a significant general increase in Future orientation and a significant decrease in Current/Past orientation. We also show top-teams’ temporal orientation is related to their strategic orientation, specifically the extent to which they focus on Innovation-Expansion and Capacity Building.

Short-termism : challenges and resolutions

The global financial crisis has highlighted the vulnerability of our economy to systemic risks. While its causes are numerous and relate to complex problems deeply embedded in capital markets, ‘short-termism’ (excessive focus on short-term outcomes at the expense of long-term wealth creation and sustainability) has frequently been flagged as a major contributor to this crisis. Although short-termism is not new, the global financial crisis has highlighted the presence of short-termism among institutional investors, and the failure of global markets and regulators to deal with such perverse and destructive behaviour (Guyatt 2009). Solutions are clearly needed. Although there is a body of research that provides evidence of the presence of short-termism in capital markets and the consequences of short-term decision-making on the financial wellbeing of both individuals and organisations, there is no consensus on mitigating solutions to short-termism. What emerges from the literature is the need to take a broad interdisciplinary perspective in seeking solutions to the problem.

Energy polarization and popular representation: Evidence from the Russian Duma

In this article we introduce the term “energy polarization” to explain the politics of energy market reform in the Russian Duma. Our model tests the impact of regional energy production, party cohesion and ideology, and electoral mandate on the energy policy decisions of the Duma deputies (oil, gas, and electricity bills and resolution proposals) between 1994 and 2003. We find a strong divide between Single-Member District (SMD) and Proportional Representation (PR) deputies High statistical significance of gas production is demonstrated throughout the three Duma terms and shows Gazprom's key position in the post-Soviet Russian economy. Oil production is variably significant in the two first Dumas, when the main legislative debates on oil privatization occur. There is no constant left–right continuum, which is consistent with the deputies' proclaimed party ideology. The pro- and anti-reform poles observed in our Poole-based single dimensional scale are not necessarily connected with liberal and state-oriented regulatory policies, respectively. Party switching is a solid indicator of Russia's polarized legislative dynamics when it comes to energy sector reform.

Effect of physical activity and other stressors on appetite: Overcoming underconsumption of military operational rations revisited.

Recognizing the importance of good nutrition for physical and mental status, the Department of Defense asked the Institute of Medicine to guide the design of the nutritional composition of a ration for soldiers on short-term, high-stress missions. Nutrient Composition of Rations for Short-Term, High-Intensity Combat Operations considers military performance, health concerns, food intake, energy expenditure, physical exercise, and food technology issues. The success of military operations depends to a large extent on the physical and mental status of the individuals involved.

Development of the sustainable building and construction products industry in Australia

This paper draws on a major study the authors conducted for the Australian Government in 2009. It focuses on the diffusion issues surrounding the uptake of sustainable building and construction products in Australia. Innovative sustainable products can minimise the environmental impact during construction, while maximising asset performance, durability and re-use. However, there are significant challenges faced by designers and clients in the selection of appropriate sustainable products in consideration of the integrated design solution, including overall energy efficiency, water conservation, maintenance and durability, low-impact use and consumption. The paper is a review of the current state of sustainable energy and material product innovations in Australia. It examines the system dynamics surrounding these innovations as well as the drivers and obstacles to their diffusion throughout the Australian construction industry. The case product types reviewed comprise: solar energy technology, small wind turbines, advanced concrete technology, and warm-mixed asphalt. The conclusions highlight the important role played by Australian governments in facilitating improved adoption rates. This applies to governments in their various roles, but particularly as clients/owners, regulators, and investors in education, training, research and development. In their role as clients/owners, the paper suggests that government can better facilitate innovation within the construction industry by adjusting specification policies to encourage the uptake of sustainable products. In the role as regulators, findings suggest governments should be encouraging the application of innovative finance options and positive end-user incentives to promote sustainable product uptake. Also, further education for project-based firms and the client/end users about the long-term financial and environmental benefits of innovative sustainable products is required. As more of the economy’s resources are diverted away from business-as-usual and into the use of sustainable products, some project-based firms may face short-term financial pain in re-shaping their businesses. Government policy initiatives can encourage firms make the necessary adjustments to improve innovative sustainable product diffusion throughout the industry.

Growing local participation through long term design

Our research explores the design of networked technologies to facilitate local suburban communications and to encourage people to engage with their local community. While there are many investigations of interaction designs for networked technologies, most research utilises small exercises, workshops or other short-term studies to investigate interaction designs. However, we have found these short-term methods to be ineffective in the context of understanding local community interaction. Moreover we find that people are resistant to putting their time into workshops and exercises, understandably so because these are academic practices, not local community practices. Our contribution is to detail a long term embedded design approach in which we interact with the community over the long term in the course of normal community goings-on with an evolving exploratory prototype. This paper discusses the embedded approach to working in the wild for extended field research.

Every One, Every Day

Creative Statement: “There are those who see Planet Earth as a gigantic living being, one that feeds and nurtures humanity and myriad other species – an entity that must be cared for. Then there are those who see it as a rock full of riches to be pilfered heedlessly in a short-term quest for over-abundance. This ‘cradle to grave’ mentality, it would seem, is taking its toll (unless you’re a virulent disbeliever in climate change). Why not, ask artists Priscilla Bracks and Gavin Sade, take a different approach? To this end they have set out on a near impossible task; to visualise the staggering quantity of carbon produced by Australia every year. Their eerie, glowing plastic cube resembles something straight out of Dr Who or The X Files. And, like the best science fiction, it has technical realities at its heart. Every One, Every Day tangibly illustrates our greenhouse gas output – its 27m3 volume is approximately the amount of green-house gas emitted per capita, daily. Every One, Every Dayis lit by an array of LED’s displaying light patterns representing energy use generated by data from the Australian Energy Market. Every One, Every Day was formed from recycled, polyethylene – used milk bottles – ‘lent’ to the artists by a Visy recycling facility. At the end of the Vivid Festival this plastic will be returned to Visy, where it will re-enter the stream of ‘technical nutrients.’ Could we make another world? One that emulates the continuing cycles of nature? One that uses our ‘technical nutrients’ such as plastic and steel in continual cycles, just like a deciduous tree dropping leaves to compost itself and keep it’s roots warm and moist?” (Ashleigh Crawford. Melbourne – April, 2013) Artistic Research Statement: The research focus of this work is on exploring how to represent complex statistics and data at a human scale, and how produce a work where a large percentage of the materials could be recycled. The surface of Every One, Every Day is clad in tiles made from polyethylene, from primarily recycled milk bottles, ‘lent’ to the artists by the Visy recycling facility in Sydney. The tiles will be returned to Visy for recycling. As such the work can be viewed as an intervention in the industrial ecology of polyethylene, and in the process demonstrates how to sustain cycles of technical materials – by taking the output of a recycling facility back to a manufacturer to produce usable materials. In terms of data visualisation, Every One, Every Day takes the form of a cube with a volume of 27 cubic meters. The annual per capita emissions figures for Australia are cited as ranging between 18 to 25 tons. Assuming the lower figure, 18tons per capital annually, the 27 cubic meters represents approximately one day per capita of CO2 emissions – where CO2 is a gas at 15C and 1 atmosphere of pressure. The work also explores real time data visualisation by using an array of 600 controllable LEDs inside the cube. Illumination patterns are derived from a real time data from the Australian Energy Market, using the dispatch interval price and demand graph for New South Wales. The two variables of demand and price are mapped to properties of the illumination - hue, brightness, movement, frequency etc. The research underpinning the project spanned industrial ecology to data visualization and public art practices. The result is that Every One, Every Day is one of the first public artworks that successfully bring together materials, physical form, and real time data representation in a unified whole.

Cardiac parasympathetic reactivation following exercise : implications for training prescription

The objective of exercise training is to initiate desirable physiological adaptations that ultimately enhance physical work capacity. Optimal training prescription requires an individualized approach, with an appropriate balance of training stimulus and recovery and optimal periodization. Recovery from exercise involves integrated physiological responses. The cardiovascular system plays a fundamental role in facilitating many of these responses, including thermoregulation and delivery/removal of nutrients and waste products. As a marker of cardiovascular recovery, cardiac parasympathetic reactivation following a training session is highly individualized. It appears to parallel the acute/intermediate recovery of the thermoregulatory and vascular systems, as described by the supercompensation theory. The physiological mechanisms underlying cardiac parasympathetic reactivation are not completely understood. However, changes in cardiac autonomic activity may provide a proxy measure of the changes in autonomic input into organs and (by default) the blood flow requirements to restore homeostasis. Metaboreflex stimulation (e.g. muscle and blood acidosis) is likely a key determinant of parasympathetic reactivation in the short term (0–90 min post-exercise), whereas baroreflex stimulation (e.g. exercise-induced changes in plasma volume) probably mediates parasympathetic reactivation in the intermediate term (1–48 h post-exercise). Cardiac parasympathetic reactivation does not appear to coincide with the recovery of all physiological systems (e.g. energy stores or the neuromuscular system). However, this may reflect the limited data currently available on parasympathetic reactivation following strength/resistance-based exercise of variable intensity. In this review, we quantitatively analyse post-exercise cardiac parasympathetic reactivation in athletes and healthy individuals following aerobic exercise, with respect to exercise intensity and duration, and fitness/training status. Our results demonstrate that the time required for complete cardiac autonomic recovery after a single aerobic-based training session is up to 24 h following low-intensity exercise, 24–48 h following threshold-intensity exercise and at least 48 h following high-intensity exercise. Based on limited data, exercise duration is unlikely to be the greatest determinant of cardiac parasympathetic reactivation. Cardiac autonomic recovery occurs more rapidly in individuals with greater aerobic fitness. Our data lend support to the concept that in conjunction with daily training logs, data on cardiac parasympathetic activity are useful for individualizing training programmes. In the final sections of this review, we provide recommendations for structuring training microcycles with reference to cardiac parasympathetic recovery kinetics. Ultimately, coaches should structure training programmes tailored to the unique recovery kinetics of each individual.

Critical factors for sustainable reconstruction of post natural disasters

While scientists are still debating the level of climate change impact to new weather patterns, there have been some devastating natural disasters worldwide in the last decade. From cyclones to earthquakes and from Tsunamis to landslides, these disasters occur with formidable forces and crushing effects. As one of the most important arrangements to erase the negative influence of natural disasters and help with the recovery and redevelopment of the hit area, reconstruction is of utmost importance in light of sustainable objectives. However, current reconstruction practice confronts quite a lot of criticisms for focusing on providing short-term necessities. How to conduct the post disaster reconstruction in a long-term perspective and achieve sustainable development is thereby a highlight for industry practice and research. This paper introduced an on-going research project which is aimed at establishing an operational framework for improving sustainability performance of post disaster reconstruction by identifying critical sustainable factors and exploring their internal relationships. The research reported in this paper is part of the project. After a comprehensive literature review, 17 potential critical sustainability factors for post disaster reconstruction were identified. Preliminary examination and discussion of the factors was conducted.

'Sarcobesity' : a metabolic conundrum

Two independent but inter-related conditions that have a growing impact on healthy life expectancy and health care costs in developed nations are an age-related loss of muscle mass (i.e., sarcopenia) and obesity. Sarcopenia is commonly exacerbated in overweight and obese individuals. Progression towards obesity promotes an increase in fat mass and a concomitant decrease in muscle mass, producing an unfavourable ratio of fat to muscle. The coexistence of diminished muscle mass and increased fat mass (so-called 'sarcobesity') is ultimately manifested by impaired mobility and/or development of life-style-related diseases. Accordingly, the critical health issue for a large proportion of adults in developed nations is how to lose fat mass while preserving muscle mass. Lifestyle interventions to prevent or treat sarcobesity include energy-restricted diets and exercise. The optimal energy deficit to reduce body mass is controversial. While energy restriction in isolation is an effective short-term strategy for rapid and substantial weight loss, it results in a reduction of both fat and muscle mass and therefore ultimately predisposes one to an unfavourable body composition. Aerobic exercise promotes beneficial changes in whole-body metabolism and reduces fat mass, while resistance exercise preserves lean (muscle) mass. Current evidence strongly supports the inclusion of resistance and aerobic exercise to complement mild energy-restricted high-protein diets for healthy weight loss as a primary intervention for sarcobesity.