scholarly journals On Fine Wine Pricing across Different Trading Venues

2021 ◽  
pp. 1-21
Author(s):  
Paweł Oleksy ◽  
Marcin Czupryna ◽  
Michał Jakubczyk
Keyword(s):  
Size Effect ◽  
Linear Relationship ◽  
Over The Counter ◽  
Price Differentiation ◽  
Informed Decisions ◽  
Simulation Results ◽  
Wine Aging ◽  
Jel Classifications

Abstract This article examines how selected attributes of Bordeaux fine wines (producer, vintage, quality, bottle size, case, flaws, and transaction volume) affect prices in three types of trading venues: auctions, electronic exchange, and the over-the-counter (OTC) market. The findings indicate a price differentiation across the venues. Wine aging leads to relatively higher prices at auctions than on the electronic exchange or the OTC. There is a nearly linear relationship between prices and wine ratings, the strongest of which is found in the case of auctions. The bottle size effect is mostly positive for supersized formats and is the strongest on an electronic exchange and the weakest at auctions. The transaction volume negatively affects wine prices in all the trading venues. The simulation results facilitate the construction of more realistic trading models and may help traders make more informed decisions on the choice of a trading venue, depending on the wine characteristics. (JEL Classifications: D40, G12, Q14, L66)

scholarly journals Size effect of Water-flowing fracture Zone height based on FLAC3D

2020 ◽  
Vol 194 ◽  
pp. 01011
Author(s):  
Chao Zheng ◽  
Lan Yu ◽  
Ning Sun ◽  
Hualong Zhou ◽  
Jiangyi He
Keyword(s):  
Size Effect ◽  
Coal Mine ◽  
Fracture Zone ◽  
Average Distance ◽  
Water Inrush ◽  
Water Diversion ◽  
Effect Of Water ◽  
Face Width ◽  
Working Face ◽  
Simulation Results

The loss of water resources caused by mining fissures is a key factor restricting the green development of coal resources in western mining areas. in order to analyze the influence of mining thickness and face width on the development height of water diversion fracture zone, based on the characteristics of overburden in Xinzhuang Coal Mine, the finite difference software FLAC3D is used to simulate and analyze the size effect of water diversion fracture zone height. The simulation results show that the height of the water diversion fracture zone is positively correlated with the increase of mining thickness and working face width. When the mining thickness is 9m and the width of the working face is 240m, the height of the water diversion fracture zone is 115m, and the average distance between the coal layer 8 of Xinzhuang Coal Mine and the bottom of the Cretaceous aquifer is 106.9m, which may cause water inrush in the mine. Therefore, according to the simulation results and referring to the mining size of part of the mine face in the attached Binchang mining area, it is suggested that the mining thickness of Xinzhuang Coal Mine is about 10m and the width of the working face is not more than 200m.

Study about influence of doors’ opening degree on crowd evacuation based on simulation

2019 ◽  
Vol 30 (11) ◽  
pp. 1950096
Author(s):  
Yuanchun Ding ◽  
Falu Weng ◽  
Lizhong Yang
Keyword(s):  
Linear Relationship ◽  
Flow Rate ◽  
Saving Rate ◽  
Mean Square ◽  
Mean Flow ◽  
Time Saving ◽  
Evacuation Time ◽  
Crowd Evacuation ◽  
The Mean ◽  
Simulation Results

Based on simulation, the influence of the doors’ opening degree (DOD) on crowd evacuation is investigated in this paper. First of all, an evacuation model, which has one exit with two doors, is established by utilizing the software Pathfinder. Then, based on the obtained model, some evacuation scenarios are considered. The simulation results indicate, when the DOD is within 115∘–135∘, the time saving rate is more than 13%, and the maximum time saving rate is achieved when the DOD is 125∘. Furthermore, there is a linear relationship between the mean square error and the number of the evacuees. For a small number of evacuees, the total evacuation time is mainly influenced by the distributions of the evacuees, however, as the number of the evacuees increases, it is mainly influenced by the number of the evacuees. Moreover, when the DOD is 125∘, the mean flow rate per unit width (MFRPUW) decreases along with the increasing of exit’s width, however, it increases along with the increasing of exit’s width while the DOD is 180∘. Compared with the 180∘ DOD, the 125∘ DOD can always achieve a higher MFRPUW, and the narrower the exit is, the higher MFRPUW the 125∘ DOD achieves.

scholarly journals Managing Price Risk in Volatile Grain Markets, Issues and Potential Solutions

2009 ◽  
Vol 41 (2) ◽  
pp. 353-362 ◽  
Author(s):  
Andrew M. McKenzie ◽  
Eugene L. Kunda
Keyword(s):  
Price Volatility ◽  
Price Risk ◽  
Credit System ◽  
Over The Counter ◽  
Grain Markets ◽  
Lines Of Credit ◽  
Farm Credit ◽  
Farm Credit System ◽  
Simulation Results ◽  
Sources Of Capital

During 2008 extreme price volatility in grain markets led to country elevators incurring unprecedentedly large margin calls on their futures hedges. As a result elevators' traditional liquidity sources and lines of credit were stretched to breaking point. This article explores the potential liquidity benefits of making available an Over-the-Counter Margin Credit Swap contract to grain hedgers. The swap would enable hedgers to draw upon sources of capital outside the farm credit system to provide liquidity needed to make margin calls. Simulation results clearly show that a Margin Credit Swap contract would provide significant liquidity benefits to hedgers during volatile periods.

Atomic Simulation of Size Effect and Surface Properties of Aluminum Nanoparticles

2013 ◽  
Vol 680 ◽  
pp. 8-14 ◽  
Author(s):  
Wei Zhu ◽  
Wu Lin Song ◽  
Jian Jun Wang
Keyword(s):  
Size Effect ◽  
Surface Properties ◽  
Metallic Nanoparticles ◽  
Lattice Parameter ◽  
Theoretical Research ◽  
Stored Energy ◽  
Atomic Simulation ◽  
Al Nanoparticles ◽  
Order Of Magnitude ◽  
Simulation Results

Here, modified analytic embedded atom method (MAEAM) has been utilized to simulate size effect and surface properties of aluminum (Al) nanoparticles. According to the simulation results, we can find that lattice parameter and excess stored energy are size dependent. The simulated excess stored energy ranges from 2.12 to 57.61 kJ/mol, which is in the same order of magnitude with experiment results; surface energy of Al nanoparticles ranges from 0.78 to 1.10 J/m2, which is not invariant but size related. Furthermore, non-uniform lattice distortion has been observed in Al nanoparticles, and mainly concentrates in the first and second shell of surface layers. Theoretical research based on our simulation results provides a novel method to predict excess stored energy of metallic nanoparticles.

The Investigation of the Factors of the Fracture Toughness Based on the Compact Tension Specimen

2015 ◽  
Vol 1119 ◽  
pp. 775-778
Author(s):  
Yan Wei Wang ◽  
Xuan Du ◽  
Guang Ping Zou ◽  
Cong Bo Ma
Keyword(s):  
Experimental Data ◽  
Numerical Simulation ◽  
Size Effect ◽  
Fracture Behavior ◽  
Tensile Loading ◽  
Compact Tension ◽  
Compact Tension Specimen ◽  
Tension Specimen ◽  
Initial Load ◽  
Simulation Results

This article studies the fracture behavior of compact tension specimens under tensile loading. The test - numerical hybrid method is used to explore the effect of the location of the loading hole. And the size effect is also considered to analysis the reason of fracture behavior .The initial load for numerical simulation is based on the experimental data. In that case, the numerical simulation results can be used to study the effect of the location of the loading hole and also the size effect to the specimens.

Research on the Size Effect of Specific Cutting Energy Based on Numerical Simulation of Single Grit Scratching

2018 ◽  
Vol 140 (7) ◽  
Author(s):  
Tao Zhang ◽  
Feng Jiang ◽  
Lan Yan ◽  
Xipeng Xu
Keyword(s):  
Numerical Simulation ◽  
Size Effect ◽  
Material Removal Rate ◽  
Material Removal ◽  
Removal Rate ◽  
Specific Cutting Energy ◽  
Cutting Energy ◽  
Simulation Results ◽  
The Relationship ◽  
Single Grit Scratch

A method of research on the size effect of the specific cutting energy based on the numerical simulation has been proposed. The theoretical model of the research on size effect of specific cutting energy using single grit scratching simulation has been presented. A series of single grit scratch simulations with different scratching depths have been carried out to acquire different material removal rates. Then, the specific cutting energy has been calculated based on the power consumed and the material removal rate. The relationship between the specific cutting energy and the material removal rate has been given which agrees well with that presented by Malkin. The simulation results have been analyzed further to explain the size effect of specific cutting energy.

scholarly journals Numerical Simulation of Fragment Separation during Rock Cutting Using a 3D Dynamic Finite Element Analysis Code

2017 ◽  
Vol 2017 ◽  
pp. 1-17 ◽  
Author(s):  
Zhenguo Lu ◽  
Lirong Wan ◽  
Qingliang Zeng ◽  
Xin Zhang ◽  
Kuidong Gao
Keyword(s):  
Numerical Simulation ◽  
Compressive Strength ◽  
Linear Relationship ◽  
Specific Energy ◽  
Cutting Forces ◽  
Rock Cutting ◽  
Cutting Depth ◽  
Conical Pick ◽  
Simulation Results ◽  
Base Rock

To predict fragment separation during rock cutting, previous studies on rock cutting interactions using simulation approaches, experimental tests, and theoretical methods were considered in detail. This study used the numerical code LS-DYNA (3D) to numerically simulate fragment separation. In the simulations, a damage material model and erosion criteria were used for the base rock, and the conical pick was designated a rigid material. The conical pick moved at varying linear speeds to cut the fixed base rock. For a given linear speed of the conical pick, numerical studies were performed for various cutting depths and mechanical properties of rock. The numerical simulation results demonstrated that the cutting forces and sizes of the separated fragments increased significantly with increasing cutting depth, compressive strength, and elastic modulus of the base rock. A strong linear relationship was observed between the mean peak cutting forces obtained from the numerical, theoretical, and experimental studies with correlation coefficients of 0.698, 0.8111, 0.868, and 0.768. The simulation results also showed an exponential relationship between the specific energy and cutting depth and a linear relationship between the specific energy and compressive strength. Overall, LS-DYNA (3D) is effective and reliable for predicting the cutting performance of a conical pick.

The Size Effect on Critical Back Pressure Ratio for Sonic Nozzles

2009 ◽  
Author(s):  
Chunhui Li ◽  
Chi Wang
Keyword(s):  
Boundary Layer ◽  
Size Effect ◽  
Pressure Ratio ◽  
Back Pressure ◽  
Boundary Layer Effect ◽  
Sonic Nozzle ◽  
Core Flow ◽  
Layer Effect ◽  
Throat Diameter ◽  
Simulation Results

As an important parameter, the critical back pressure ratio is directly related with the application of sonic nozzle. When the stagnation condition was fixed, the size effect on critical back pressure ratio was investigated. Some numerical simulations were conducted for sonic nozzles with throat diameter within (0.15–5) mm under laminar flow. From the simulation results, it was clear that the critical back pressure ratio decreased with throat diameter decreasing. From the analyses of flow filed for sonic nozzles with different throat diameters, the most possible reason was the strong interaction between core flow and boundary layer near to the wall, which intensified with throat diameter increasing. As a result, the boundary layer effect decreased with the throat diameter increased, which resulted in the increase of critical pressure ratio with the throat diameter increasing.

Discrete Element Method for Mechanics Properties and Size Effect Analysis of Granite

2013 ◽  
Vol 288 ◽  
pp. 37-40
Author(s):  
Yong Ye ◽  
Liang Kang
Keyword(s):  
Compressive Strength ◽  
Size Effect ◽  
Discrete Element Method ◽  
Bending Strength ◽  
Discrete Element ◽  
Discrete Elements ◽  
Effect Analysis ◽  
Model Size ◽  
Simulation Results ◽  
Element Method

The mechanics models formed by packed circular discrete elements and randomly distributed in a specified region were used to investigate the mechanics properties of granite, and some different sizes of discrete element models were carried out to study the size effect of mechanics properties. The simulation results suggest that there is no obvious size effect for Poisson’s ratio, compressive strength and Young’s modulus. However, the value of bending strength decreases with the increasing of the model size.

Analysis of Micro Structure’s Elastic Stiffness

2012 ◽  
Vol 184-185 ◽  
pp. 890-895
Author(s):  
Li Shen ◽  
Shi Qiao Gao ◽  
An Ran Jiang ◽  
Cai Feng Wang
Keyword(s):  
Linear Relationship ◽  
Elastic Stiffness ◽  
Small Displacement ◽  
Stiffness Coefficient ◽  
Polynomial Fitting ◽  
Non Linear ◽  
Simulation Results ◽  
The Relationship

Based on the calculation and analysis of three kinds of elastic beam’s stiffness coefficient in micro machined gyroscope, the results show: in the condition of small displacement，forces and displacement are linear relationship in clamped-clamped beam, crab-foot beam and bow beam; but as the displacement increases, the relationship between forces and displacement are obvious non-linear in clamped-clamped beam. When the displacement is three times the length of beam’s width, the bow beam’s force and displacement are linear relationship. By ANSYS crab-foot beam and bow beam’s stiffness is obtained, the simulation results and the polynomial fitting coefficient are all credible.

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