Inanici, M. (2019). Tri-stimulus Color Accuracy in Image-based Sky Models: Simulating the Impact of Color Distributions throughout the Sky Dome on Daylit Interiors with Different Orientations. Proceedings of Building Simulation 2019: 16th Conference of IBPSA. https://doi.org/10.26868/25222708.2019.210585.
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Abstract
Spectral properties of daylight surpasses any other light source. Its dynamic intensity and spectra across the full spectrum facilitates sustainable daylighting practices, produces best color rendition, and regulates circadian rhythms in all living beings. However, simulation models do not typically include spectral variability; daylight is modelled as a uniform, equal energy white source. In this paper, tristimulus calibration procedures are utilized to create spectrally accurate High Dynamic Range (HDR) photographs. HDR photographs of skies are collected and utilized as an input to image based lighting (IBL) simulations. The impact of color variations across the sky dome and between different sky conditions are studied. Per-pixel photopic luminances, tri-stimulus chromatic distributions, Correlated Color Temperatures (CCT) and circadian luminance and illuminance values are quantified for image-based daylighting simulations, and compared with standard colorless Perez skies.
Keywords
color based skies; image based lighting; daylight simulations; high dynamic range imagery; color calibration
De Almeida, Catherine. (2019). Performative By-Products: The Emergence of Waste Reuse Strategies at the Blue Lagoon. Journal of Landscape Architecture, 13(3), 64-77.
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Abstract
Materials and landscapes associated with waste are perceived as objectionable. By reactivating and embracing waste conditions as desirable opportunities for diverse programmes rooted in economy, ecology, and culture, designers can form hybrid assemblages on waste sites through the exchange of waste materials—a landscape lifecycles approach. This frame-work is applicable to not only design research, but also as a critical lens for evaluating the landscape performance of existing projects that engage with waste reuse. The Blue Lagoon in southwest Iceland materialized as a spa industry out of geothermal waste effluent from the adjacent Svartsengi Geothermal Power Station, reusing undesirable materials and transforming a waste landscape through diversified material recovery strategies. Featuring an industrial by-product turned economic generator, this case study reveals the opportunities for reusing geothermal ‘waste’ in these emergent landscape conditions, which hybridize economies with recreation, research, and ecology, and shift the conventional relationship with waste from passive to performative.
Keywords
Waste reuse; Blue Lagoon; material lifecycles; Iceland; landscape reclamation
Hess, Christian; Walter, Rebecca J.; Acolin, Arthur; Chasins, Sarah. (2019). Comparing Small Area Fair Market Rents with Other Rental Measures across Diverse Housing Markets. Cityscape, 21(3), 159 – 186.
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Abstract
Small Area Fair Market Rents (SAFMRs) are calculated at the 40th percentile of the U.S. postal ZIP Code instead of the metropolitan area in an effort to capture localized rents to expand choice for voucher holders to access housing in higher-opportunity neighborhoods. Existing studies on the potential and actual outcomes of SAFMRs demonstrate that findings vary for different types of housing markets. Furthermore, the decisions public housing authorities (PHAs) make in the implementation process affect PHAs' program budget and the rent burden and locational outcomes for voucher households. This study aims to address how these implementation factors are affected by local rental market conditions for three PHAs-Housing Authority of the City of Fort Lauderdale, San Antonio Housing Authority, and Seattle Housing Authority-in diverse housing markets. By comparing different sources of market rent estimates with SAFMRs in each location, we contribute new information about how this rule is likely to produce different residential outcomes in terms of increased access to low-poverty neighborhoods and adjustments to payment standards in low-rent neighborhoods. The findings reveal differences across rent measures in terms of estimated levels and relative differences across ZIP Codes. These findings suggest that housing authorities may face challenges in meeting the objectives of the SAFMR final rule without some form of local adjustments.]
Ametefe, Frank Kwakutse; Devaney, Steven; Stevenson, Simon Andrew. (2019). Optimal Composition of Hybrid/Blended Real Estate Portfolios. Journal Of Property Investment & Finance, 37(1), 20 – 41.
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Abstract
Purpose The purpose of this paper is to establish an optimum mix of liquid, publicly traded assets that may be added to a real estate portfolio, such as those held by open-ended funds, to provide the liquidity required by institutional investors, such as UK defined contribution pension funds. This is with the objective of securing liquidity while not unduly compromising the risk-return characteristics of the underlying asset class. This paper considers the best mix of liquid assets at different thresholds for a liquid asset allocation, with the performance then evaluated against that of a direct real estate benchmark index. Design/methodology/approach The authors employ a mean-tracking error optimisation approach in determining the optimal combination of liquid assets that can be added to a real estate fund portfolio. The returns of the optimised portfolios are compared to the returns for portfolios that employ the use of either cash or listed real estate alone as a liquidity buffer. Multivariate generalised autoregressive models are used along with rolling correlations and tracking errors to gauge the effectiveness of the various portfolios in tracking the performance of the benchmark index. Findings The results indicate that applying formal optimisation techniques leads to a considerable improvement in the ability of the returns from blended real estate portfolios to track the underlying real estate market. This is the case at a number of different thresholds for the liquid asset allocation and in cases where a minimum return requirement is imposed.
Keywords
Hedge-fund-replication; Volatility Dynamics; Tracking Error; Stock; Performance; Property; Returns; Markets; Private; Model; Open-ended Funds; Real Estate Liquidity; Portfolio Optimization; Blended Real Estate; Defined Contribution Pensions
Jon, Ihnji. (2019). Resilience and ‘Technicity’: Challenges and Opportunities for New Knowledge Practices in Disaster Planning. Resilience-International Policies Practices and Discourses, 7(2), 107 – 125.
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Abstract
With increasing exposure to environmental catastrophes and natural hazards, the terminology of 'resilience' is becoming ubiquitous in the planning field. As a part of this continuing discussion, this paper examines how the concept of resilience has been used in disaster planning, especially with a focus on the creation and use of knowledge to 'build resilience' in response to potential future natural hazard events. In discussing the practice of creating and using knowledge in disaster planning, I draw insights from the interdisciplinary critical studies of science and technology literature, which has been developing rich discussions on the challenges we face in producing geographical knowledge. I demonstrate in this paper how resilience theory can be linked with the concept of 'technicity' used in the virtual geography literature, and how that association can have meaningful implications for the production and application of knowledge in disaster planning.
Keywords
Community Resilience; Adaptive Capacity; Vulnerability; Hazard; Risk; Sustainability; Participation; Geographies; Uncertainty; Complexity; Resilience; Technicity; Disaster Planning; Virtual Geography; Knowledge Practice
Park, Kyungmo; Lee, Hyun Woo; Choi, Kunhee; Lee, Seung-hyun. (2019). Project Risk Factors Facing Construction Management Firms. International Journal Of Civil Engineering, 17(3), 305 – 321.
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Abstract
Very little is known about the project risk factors that affect construction management (CM) firms, which often struggle due to a lack of effective risk management practices. This study investigates the risk factors critical to project execution in CM firms and ranks them using the analytic hierarchy process (AHP) and failure mode and effects analysis (FMEA) methods. Interviews with executives at the top 15 Korean CM firms are carried out to identify major risk factors in the CM sector, and a survey is used to develop priority ranking. We find that payment delays and project delays are the two most critical risk factors affecting CM firms because of (1) lack of communication between headquarters and field offices, (2) shift of responsibility from headquarters to a field office, (3) absence of regular monitoring of project progress, and (4) ex-post management practices. The findings presented in this study should assist CM firms in establishing more robust risk management practices, thereby improving firms' profitability, project performance, and customer satisfaction.
Keywords
Analytic Hierarchy Process; Customer Satisfaction; Factor Analysis; Risk Assessment; Risk Management; Analytic Hierarchy Process (ahp); Construction Management; Construction Management Firms; Failure Mode And Effects Analysis; Korea; Management Practices; Risk Factors; Risk Management Practices; Industry
Wang, Kaiwen; Liu, Xiaomang; Tian, Wei; Li, Yanzhong; Liang, Kang; Liu, Changming; Li, Yuqi; Yang, Xiaohua. (2019). Pan Coefficient Sensitivity to Environment Variables across China. Journal Of Hydrology, 572, 582 – 591.
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Abstract
Data of open water evaporation (E-ow), such as evaporation of lake and reservoir, have been widely used in hydraulic and hydrological engineering projects, and water resources planning and management in agriculture, forestry and ecology. Because of the low-cost and maneuverability, measuring the evaporation of a pan has been widely regarded as a reliable approach to estimate E-ow through multiplying an appropriate pan coefficient (K-p). K-p is affected by geometry and materials of a pan, and complex surrounding environment variables. However, the relationship between K-p and different environment variables is unknown. Thus, this study chose China D20 pan as an example, used meteorological observations from 767 stations and introduced the latest PenPan model to analyze the sensitivity of K-p to different environment variables. The results show that, the distribution of annual K-p had a strong spatial gradient. For all the stations, annual K-p ranged from 0.31 to 0.89, and decreased gradually from southeast to northwest. The sensitivity analysis shows that for China as a whole, K-p was most sensitive to relative humidity, followed by air temperature, wind speed and sunshine duration. For 767 stations in China, K-p was most sensitive to relative humidity for almost all the stations. For stations north of Yellow River, wind speed and sunshine duration were the next sensitive variables; while for stations south of Yellow River, air temperature was the next sensitive variable. The method introduced in this study could benefit estimating and predicting K-p under future changing environment.
Keywords
Atmospheric Temperature; Hydraulic Engineering; Meteorological Observations; Humidity; Water Supply; Evaporation (meteorology); Sunshine; Lake Management; China; Kp Most Sensitive To Relative Humidity; Open Water Evaporation; Pan Coefficient (kp); Pan Evaporation; Sensitivity Analysis; Reference Evapotranspiration; Reference Crop; Evaporation; Water; Model; Pan Coefficient (k-p); K-p Most Sensitive To Relative Humidity; Air Temperature; Ecology; Forestry; Geometry; Hydrologic Engineering; Lakes; Maneuverability; Meteorological Data; Models; Planning; Prediction; Relative Humidity; Solar Radiation; Wind Speed; Yellow River
Ascherl, Claudia; Schrand, Liesa; Schaefers, Wolfgang; Dermisi, Sofia. (2019). The Determinants of Executive Compensation in US REITs: Performance vs. Corporate Governance Factors. Journal Of Property Research, 36(4), 313 – 342.
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Abstract
The paper examines whether executive compensation packages within the US REIT industry are determined merely by performance or also by CEO power mechanisms that have an essential influence on board-level negotiations. We offer original insights into management compensation arrangements during and after the financial crisis. The relative importance of cash bonuses in CEO compensation contracts has more than halved after the crisis. Simultaneously, after the financial crisis, equity-based compensation became increasingly important. Concerning the pay-for-performance link, our results show no relationship during the financial crisis. However, after the crisis, we find a strong significant link between remuneration packages and corporate success.
Keywords
Executive Compensation; Chief Executive Officers; Negotiations; Compensation; Packages; Crises; Economic Crisis; Corporate Governance; United States--us
Jon, Ihnji; Huang, Shih-Kai; Lindell, Michael K. (2019). Perceptions and Expected Immediate Reactions to Severe Storm Displays. Risk Analysis, 39(1), 274 – 290.
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Abstract
The National Weather Service has adopted warning polygons that more specifically indicate the risk area than its previous county-wide warnings. However, these polygons are not defined in terms of numerical strike probabilities (p(s)). To better understand people's interpretations of warning polygons, 167 participants were shown 23 hypothetical scenarios in one of three information conditions-polygon-only (Condition A), polygon + tornadic storm cell (Condition B), and polygon + tornadic storm cell + flanking nontornadic storm cells (Condition C). Participants judged each polygon's p(s) and reported the likelihood of taking nine different response actions. The polygon-only condition replicated the results of previous studies; p(s) was highest at the polygon's centroid and declined in all directions from there. The two conditions displaying storm cells differed from the polygon-only condition only in having p(s) just as high at the polygon's edge nearest the storm cell as at its centroid. Overall, p(s) values were positively correlated with expectations of continuing normal activities, seeking information from social sources, seeking shelter, and evacuating by car. These results indicate that participants make more appropriate p(s) judgments when polygons are presented in their natural context of radar displays than when they are presented in isolation. However, the fact that p(s) judgments had moderately positive correlations with both sheltering (a generally appropriate response) and evacuation (a generally inappropriate response) suggests that experiment participants experience the same ambivalence about these two protective actions as people threatened by actual tornadoes.
Keywords
Decision-making; Tornado; Risk; Communication; Numeracy; Residents; Shelter; Events; Protective Actions; Risk Perceptions; Tornado Warning Polygons; Judgments; Tornadoes; Meteorological Services; Storms; Lymphocytes B; Polygons; Emergency Warning Programs; Evacuation; Displays; Inappropriateness; Weather; Warnings; Conditions; Ambivalence
Pierobon, Francesca; Huang, Monica; Simonen, Kathrina; Ganguly, Indroneil. (2019). Environmental Benefits of Using Hybrid CLT Structure in Midrise Non-Residential Construction: An LCA Based Comparative Case Study in the U.S. Pacific Northwest. Journal Of Building Engineering, 26.
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Abstract
In this study, the cradle-to-gate environmental impact of a hybrid, mid-rise, cross-laminated timber (CLT) commercial building is evaluated and compared to that of a reinforced concrete building with similar functional characteristics. This study evaluates the embodied emissions and energy associated with building materials, manufacturing, and construction. Two alternative designs are considered for fire protection in the hybrid CLT building: 1) a 'fireproofing design', where gypsum wallboard is applied to the structural wood; and 2) a 'charring design', where two extra layers of CLT are added to the panel. The life cycle environmental impacts are assessed using TRACI 2.1 and the total primary energy is evaluated using the Cumulative Energy Demand impact method. Results show that an average of 26.5% reduction in the global warming potential is achieved in the hybrid CLT building compared to the concrete building, excluding biogenic carbon emissions. Except ozone depletion, where the difference in impact between scenarios is < 1%, replacing fireproofing with charring is beneficial for all impact categories. The embodied energy assessment of the building types reveals that, on average, the total primary energy in the hybrid CLT buildings and concrete building are similar. However, the non-renewable energy (fossil-based) use in the hybrid CLT building is 8% lower compared to that of the concrete building. As compared to the concrete building, additional 1,556 tCO(2)(e) and 2,567 tCO(2e) are stored in the wood components of the building (long-term storage of biogenic carbon) in the scenario with fireproofing and with charring, respectively.
Keywords
Wood; Concrete; Energy; Buildings; Impacts; Cross-laminated Timber; U.s. Pacific Northwest; Life Cycle Assessment; Cumulative Energy Demand; Biogenic Carbon; Carbon Storage