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The paper presents a comprehensive model of a banking system that integrates network effects, bankruptcy costs, fire sales, and cross-holdings. For the integrated financial market we prove the existence of a price-payment equilibrium and design an algorithm for the computation of the greatest and the least equilibrium. The number of defaults corresponding to the greatest price-payment equilibrium is analyzed in several comparative case studies. These illustrate the individual and joint impact of interbank liabilities, bankruptcy costs, fire sales and cross-holdings on systemic risk. We study policy implications and regulatory instruments, including central bank guarantees and quantitative easing, the significance of last wills of financial institutions, and capital requirements.
This paper presents a cascaded methodology for enhancing the path accuracy of industrial robots by using advanced control schemes. It includes kinematic calibration as well as dynamic modeling and identification. This is followed by a centralized model-based compensation of robot dynamics. The implemented feed-forward torque control shows the expected improvements of control accuracy. However, external measurements show the influence of joint elasticities as systematic path errors. To further increase the accuracy an iterative learning controller (ILC) based on external camera measurements is designed. The implementation yields to significant improvements of path accuracy. By means of a kind of automated ”Teach-In”, an overall effective concept for the automated calibration and optimization of the accuracy of industrial robots in high-dynamic path-applications is realized.
Objectives:
The aim was to identify theoretically expected as well as actually reported benefits from drug development and the importance of individual patient benefits compared to the collective benefits to society in general.
Background:
Ethical guidelines require that clinical research involving humans offer the potential for benefit. A number of characteristics can be applied to define research benefit. Often benefit is categorized as being either direct or indirect. Indirect benefits can involve collective benefits for society rather than any benefits to the trial patient or subject. The purpose of this review was to examine which potential individual and societal benefits were mentioned as being expected in publications from government experts and which were mentioned in publications describing completed drug development trial results.
Methods:
Literature on research benefit was first identified by searching the PubMed database using several combinations of the key words benefit and clinical research. The search was limited to articles published in English. A Google search with the same combinations of key words but without any language limitation was then performed. Additionally, the reference lists of promising articles were screened for further thematically related articles. Finally, a narrative review was performed of relevant English- and German-language articles published between 1996 and 2016 to identify which of several potential benefits were either theoretically expected or which were mentioned in publications on clinical drug development trial results.
Results:
The principal benefits from drug development discussed included 2 main types of benefit, namely individual benefits for the patients and collective benefits for society. Twenty-one of an overall total of 26 articles discussing theoretically expected benefits focused on individual patient benefits, whereas 17 out of 26 articles mentioned collective benefits to society. In these publications, the most commonly mentioned theoretically expected individual patient benefit was the chance to receive up-to-date care (38.1%). A general increase in knowledge about health care, treatments, or drugs (70.6%) was the most commonly mentioned theoretically expected benefit for society. In contrast, all 13 publications reporting actual benefits of clinical drug development trials focused on personal benefits and only 1 of these publications also mentioned a societal benefit. The most commonly mentioned individual benefit was an increased quality of life (53.9%), whereas the only mentioned collective benefit to society was a general gain of knowledge (100.0%).
Conclusions:
Both theoretically expected and actually reported benefits in the majority of the included publications emphasized the importance of individual patient benefits from drug development rather than the collective benefits to society in general. The authors of these publications emphasized the right of each individual patient or subject to look for and expect some personal benefit from participating in a clinical trial rather than considering societal benefit as a top priority. From an ethical point of view, the benefits each individual patient receives from his or her participation in a clinical trial might also be seen as a societal benefit, especially when the drug or device tested, if approved for marketing, would eventually be made available for other similar patients from the country in which the clinical trial was conducted.
Delphi is a frequently used research method in the information systems (IS) field. The last fifteen years have seen many variants of the Delphi Method proposed and used in IS research. However, these variants do not seem to be properly derived; while all variants share certain characteristics, their reasoning for differentiation inconsistently varies. It seems that researchers tend to create “new” Delphi Method variants, although the underlying modification of the Delphi Method is, in fact, minor. This leads to a heterogeneity of Delphi Method variants and undermines scientific rigor when using Delphi. The study addresses this deficit and (1) identifies different variants of Delphi and determines their characteristics, (2) critically reflects to what extent a clear distinction between these variants exists, (3) shows the clearly distinguishable Delphi Method variants and their characteristics, (4) develops a proposed taxonomy of Delphi Method variants, and (5) evaluates and applies this taxonomy. The proposed taxonomy helps clearly differentiate Delphi Method variants and enhances methodological rigor when using the Delphi Method.
During the transition from conventional towards purely electrical, sustainable mobility, transitional technologies play a major part in the task of increasing adaption rates and decreasing range anxiety. Developing new concepts to meet this challenge requires adaptive test benches, which can easily be modified e.g. when progressing from one stage of development to the next, but also meet certain sustainability demands themselves.
The system architecture presented in this paper is built around a service-oriented software layer, connecting a modular hardware layer for direct access to sensors and actuators to an extensible set of client tools. Providing flexibility, serviceability and ease of use, while maintaining a high level of reusability for its constituent components and providing features to reduce the required overall run time of the test benches, it can effectively decrease the CO2 emissions of the test bench while increasing its sustainability and efficiency.
The development of Artificial Intelligence (AI) has profound implications for improving human and computational productivity in the future. However, it also is an existential risk to human life because it could exceed human capabilities. As such, information about the technology, the direction of the development and its purpose is important. This can be achieved through openness and transparency of processes. Indeed, companies hold property rights over AI and monopolies of software, data and experts. As a countermovement to leading AI companies, the “Open AI Movement” has evolved to push open-source AI research and products, to empower users, and to bridge the digital divide through participation and access. In this thesis, the implications of the declaration of AI as a commons have been analyzed through interviews with AI experts in the United States. The legal placement of AI is controversial but it could be seen as a basic human right. Other findings are that this field is very competitive and that the best approach is to collaboratively develop software that adds additional value on the edge of the commons.
This document concerns IT security in production facilities. It is intended for small and medium-sized enterprises that are looking for a simple procedural model for ensuring IT security in production areas.
In order to raise readers’ awareness of IT security in production facilities, security incidents are presented in section 2. It is clear that cyber attacks on production facilities in this day and age are not random, but are instead based on a targeted process.
An overview of the most important standards and recommendations on the topic of “IT security in production” then follows in section 3.
Section 4 develops a concept for setting up an IT security system for small and medium-sized enterprises (SMEs) on the basis of a ten-point plan. The focus is not only on technical measures, but also in particular on the most frequently neglected organizational measures.
Section 5 then describes the outlook for future requirements and solutions in the context of Industry 4.0.
Editorial for the 17th European Networked Knowledge Organization Systems Workshop (NKOS 2017)
(2017)
Knowledge Organization Systems (KOS), in the form of classification systems, thesauri, lexical databases, ontologies, and taxonomies, play a crucial role in digital information management and applications generally. Carrying semantics in a well-controlled and documented way, Knowledge Organization Systems serve a variety of important functions: tools for representation and indexing of information and documents, knowledge-based support to information searchers, semantic road maps to domains and disciplines, communication tool by providing conceptual framework, and conceptual basis for knowledge based systems, e.g. automated classification systems. New networked KOS (NKOS) services and applications are emerging, and we have reached a stage where many KOS standards exist and the integration of linked services is no longer just a future scenario. This editorial describes the workshop outline and overview of presented papers at the 17th European Networked Knowledge Organization Systems Workshop (NKOS 2017) which was held during the TPDL 2017 Conference in Thessaloniki, Greece.
The amount of papers published yearly increases since decades. Libraries need to make these resources accessible and available with classification being an important aspect and part of this process. This paper analyzes prerequisites and possibilities of automatic classification of medical literature. We explain the selection, preprocessing and analysis of data consisting of catalogue datasets from the library of the Hanover Medical School, Lower Saxony, Germany. In the present study, 19,348 documents, represented by notations of library classification systems such as e.g. the Dewey Decimal Classification (DDC), were classified into 514 different classes from the National Library of Medicine (NLM) classification system. The algorithm used was k-nearest-neighbours (kNN). A correct classification rate of 55.7% could be achieved. To the best of our knowledge, this is not only the first research conducted towards the use of the NLM classification in automatic classification but also the first approach that exclusively considers already assigned notations from other
classification systems for this purpose.
In this paper, we consider the route coordination problem in emergency evacuation of large smart buildings. The building evacuation time is crucial in saving lives in emergency situations caused by imminent natural or man-made threats and disasters. Conventional approaches to evacuation route coordination are static and predefined. They rely on evacuation plans present only at a limited number of building locations and possibly a trained evacuation personnel to resolve unexpected contingencies. Smart buildings today are equipped with sensory infrastructure that can be used for an autonomous situation-aware evacuation guidance optimized in real time. A system providing such a guidance can help in avoiding additional evacuation casualties due to the flaws of the conventional evacuation approaches. Such a system should be robust and scalable to dynamically adapt to the number of evacuees and the size and safety conditions of a building. In this respect, we propose a distributed route recommender architecture for situation-aware evacuation guidance in smart buildings and describe its key modules in detail. We give an example of its functioning dynamics on a use case.