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Item Open Access Ghost-NeRV: Efficient Neural Video Representation via Ghost Convolutions(IEEE, 2026-04-13)Neural video representation (NeRV) has emerged as an efficient paradigm for video compression by encoding entire sequences into neural network parameters. Despite its strong reconstruction capability, NeRV suffers from high computational cost due to expensive convolutional operations in the decoder, limiting its applicability in resource-constrained environments. In this work, we propose GhostNeRV, an efficient extension of NeRV that reduces computational complexity through architectural optimization rather than numerical approximation. The work presents a systematic architectural efficiency study of structural redundancy within NeRV decoders, quantifying the trade-off between computational complexity, model compactness, and reconstruction fidelity. The proposed Ghost-NeRV integrates Ghost convolutions into the NeRV decoder to exploit feature redundancy and generate expressive representations using low-cost operations. Unlike binarization-based approaches, Ghost-NeRV preserves full-precision computation while significantly reducing the number of floating-point operations and model parameters. Extensive experiments on multiple video sequences demonstrate that Ghost-NeRV achieves up to 50% reduction in GFLOPs and approximately 19% reduction in model size, while maintaining stable reconstruction quality. Compared to the NeRV baseline, Ghost-NeRV incurs only a modest degradation in PSNR (typically within 1 dB) and preserves temporal consistency, significantly outperforming Binary-NeRV in perceptual stability. An ablation study further evaluates a GhostConv-V2 variant, which provides marginal quality improvements at the cost of increased computation and bitrate, confirming that the original Ghost convolution offers the best efficiency-accuracy trade-off. These results demonstrate that Ghost-NeRV provides an effective and practical solution for neural video representation, enabling substantial computational savings while maintaining high perceptual quality, improving its suitability for resourceconstrained environments.Item Open Access Time-varying volatility model equipped with regime switching factor: valuation of option price written on energy futures(Elsevier, 2025-10-23)This paper explores the calculation of European option prices on energy futures using a time-varying volatility model enhanced by a regime switching factor. We develop a semi-analytical method to determine the price of European options on these energy futures, involving the derivation of the characteristic function for the energy futures' dynamics. To determine the parameters of the regime switching model and identify when economic states change, we employ the EM algorithm, utilizing real gas futures price data. We validate our closed-form solution for the option pricing through simulations employing the generalized antithetic variates Monte-Carlo technique. A comprehensive numerical analysis demonstrates the effectiveness of our proposed methodology.Item Open Access Ranking Investment Opportunities Across Risk-Aversion Levels: Application to Islamic and Conventional Indices(MDPI, 2025-11-07)We introduce the Reward–VaR curve, a novel framework for evaluating risk-adjusted investment performance across a range of investor risk preferences. When returns are normally distributed, the Reward–VaR curve yields the same asset ranking as the Sharpe ratio. However, when the third-order modified VaR is used, a new paradigm emerges beyond the simplistic “better/worse” ranking: if no asset dominates at all confidence levels, one becomes preferable for risk-averse investors, while the other is favored by the risk-tolerant. For empirical implementation, we incorporate bootstrapping to separate robust performance patterns from sampling noise. We apply the methodology to compare conventional equity indices and their Islamic counterparts from the S&P Dow Jones Global Index family across nine markets from 2000 to 2024: Asia-Pacific, Canada, Developed, Emerging, Europe, Japan, UK, US, and World. Our empirical results reveal market-condition dependent dominance patterns. During bull markets, conventional indices dominate in most regions, except the European and World markets, where no dominance is observed, and Japan, where the Islamic index outperforms. In bear markets, Islamic indices dominate in most regions, with the exception of Emerging Markets, where dominance is partial, and Japan, where no clear difference is observed. Over the full sample, most markets show no significant long-run AcademicEditor: ThanasisStengos Received: 21September2025 Revised: 22October2025 Accepted: 3November2025 Published: 7 November2025 Citation: Leduc, G., &Perera, S. S. N. (2025). Ranking Investment Opportunities Across Risk-Aversion Levels: Application to Islamic and Conventional Indices. Journal of Risk and Financial Management, 18(11), 623. https://doi.org/10.3390/jrfm18110623 Copyright: ©2025bytheauthors. Licensee MDPI,Basel,Switzerland. This article is an open access article distributed under the termsand conditions of the Creative Commons Attribution (CC BY)license (https://creativecommons.org/ licenses/by/4.0/). dominance, except Canada and Emerging Markets, where conventional indices outperform.Item Open Access Prioritizing Risks in Last Mile Delivery: A Bayesian Belief Network Approach(EEE, 2022-11-15)The remarkable explosion of e-commerce has marked the latest years of different industries and put forward a higher requirement for the last mile delivery. The last mile delivery is one of the most complex, costly, and inefficient processes along the entire logistics fulfillment chain in an e-commerce context. Its corresponding risks are major contributors to delivery failure. This work proposes a comprehensive framework on risk identification and analysis in the last mile delivery to support delivery planning. Risks were deduced from available literature, and others were induced through semi-structured interviews with experts in the field. Risks are categorized and the relative probability and severity of individual risks are determined. This study adopts a Bayesian Belief Network (BBN) model to identify the interdependency among risks and rank them, as the conventional ranking methods fail to take interdependency into account. The results indicate that privacy concerns, IT, and natural disasters are the most critical risks. This study will aid logistics service providers to ultimately deciding the solutions of last mile delivery that need to be utilized by prioritizing last mile delivery possible risks to increase their competitiveness and market share and minimize delivery costs.Item Open Access Performance of RC beams externally strengthened with hybrid CFRP and PET-FRP laminates(Elsevier, 2022)The use of fiber-reinforced polymers (FRP) composite materials in strengthening applications of reinforced concrete (RC) structures has been gaining wide popularity in recent decades. This is due to its superior properties such as high strength to weight ratio, durability, and versatility. In fact, it is well established that bonding FRP materials to the soffit of RC beams enhances the flexural capacity of such beams. However, the non-yielding characteristic of FRP materials is a major concern, and often results in sudden and brittle failure mode of the strengthened member. To encounter this issue, a new type of FRP materials composed from polyethylene terephthalate (PET) fibers have been developed. Compared to conventional FRPs, PET-FRP have large deformability and possess a nonlinear stress-strain relationship. Employing PET-FRP in the retrofitting industry reduces construction waste, enhances the capacity of structures and provides a solution that encourages the concept of sustainability. However, these types of large rupture strain (LRS) FRPs have lower stiffness and tensile strengths than conventional FRPs. Therefore, the main aim of this study is to combine the lower stiffness and large rupture strain of PET-FRP sheets with that of the higher stiffness and strength of carbon FRP (CFRP) sheets resulting in a new hybrid composite system. The research program consists of four RC beams externally strengthened with CFRP, PET-FRP, and their hybrid combinations, in addition to a control unstrengthened beam specimen. The beams are tested under four-point bending and load-displacement curves along with the failure modes, strength, strain in the FRP, and ductility of the beam specimens are examined. Test results indicate that strengthening with PET-FRP laminates significantly enhances the deformation capacity of the strengthened specimens compared to that with CFRP. In addition, the hybrid mix between CFRP and PET-FRPs resulted in 46-48% strength improvement compared to the unstrengthened control beam. However, the effectiveness of the hybrid system was not pronounced in terms of ductility due to the premature debonding of the concrete cover that occurred before utilizing the full strain of the hybrid system. Hence, it is advised for future research studies to anchor the hybrid sheets by means of end U-wraps or FRP spike anchors to delay the debonding failure and to exploit the benefits of the proposed hybrid system.
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