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07 September 2018 Photo Stephen Collett
Mathematician makes popular contribution to science Prof Atangana
Prof Atangana is the first African under 40 years of age to be selected as African Academic of Science affiliated in Mathematics. He recently delivered his inaugural lecture and is pictured with Eelco Lukas, Director of the Institute for GroundwaterStudies at the UFS (middle) and Prof Hendri Kroukamp, Acting Vice-Rector: Academic
Prof Abdon Atangana, researcher in the Institute for Groundwater Studies at the University of the Free State (UFS), recently delivered his inaugural lecture on the topic: Understanding God’s Nature with Non-Local Operators.

His research interests are methods and applications of partial and ordinary differential equations, fractional differential equations, perturbation methods, asymptotic methods, iterative methods, and groundwater modelling. Prof Atangana is the founder of the fractional calculus with non-local and non-singular kernels popular in applied mathematics today. He has introduced more than 12 mathematical operators, most of which bear his name (such as the Atangana-Baleanu fractional integral).

He stated: “We will not stop until we change the classical view of doing mathematics. Mathematics is not a subject but a tool given to mankind by God to understand nature. One single mathematical operator cannot portray God’s nature accurately. Therefore the Atangana Baleanu was suggested.”

New weapons

Most physical problems can be expressed in terms of mathematical formulations called differential equations. According to him the differential equation’s aim is to analyse, understand, and predict the future of a physical problem. Prof Atangana introduced the Atangana-Baleanu fractional integral. This brought new weapons into applied mathematics to model complex real-world problems more accurately.

Prof Atangana explained: “The Atangana-Baleanu fractional derivative is able to describe real-world problems with different scales, or problems that change their properties during time and space for instance, the spread of cancer, the flow of water within heterogeneous aquifers, movement of pollution within fractured aquifers, and many others. This crossover behaviour is observed in many empirical systems.”

Sudden change

The Atangana-Baleanu fractional derivative is also able to describe physical or biological phenomena, such as a heart attack, the physiological progression from life to death, structural failure in an aeroplane, and many other physical occurrences with sudden change with no steady state.

The new differential and integral operators are nowadays in fashion and are being applied with great success in many fields to model complex natural phenomena. It is believed that the future of modelling complex real-world problems relies on these non-local operators.

News Archive

Producers to save thousands with routine marketing strategies, says UFS researcher
2014-09-01

 

Photo: en.wikipedia.org

Using derivative markets as a marketing strategy can be complicated for farmers. The producers tend to use high risk strategies which include the selling of the crop on the cash market after harvest; whilst the high market risks require innovative strategies including the use of futures and options as traded on the South African Futures Exchange (SAFEX).

Using these innovative strategies are mostly due to a lack of interest and knowledge of the market. The purpose of the research conducted by Dr Dirk Strydom and Manfred Venter from the Department of Agricultural Economics at the University of the Free State (UFS) is to examine whether the adoption of a basic routine strategy is better than adopting no strategy at all.

The research illustrates that by using a Stochastic Efficiency with Respect to a Function (SERF) and Cumulative Distribution Function (CDF) that the use of five basic routine marketing strategies can be more rewarding. These basic strategies are:
• Put (plant time)
• Twelve-segment pricing
• Three-segment pricing
• Put (pollination)(Critical Moment in production/marketing process), and
• Pricing during pollination phase.

These strategies can be adopted by farmers without an in-depth understanding of the market and market-signals. Farmers can save as much as R1.6 million per year on a 2000ha farm with an average yield.

The results obtained from the research illustrate that each strategy is different for each crop. Very important is that the hedging strategies are better than no hedging strategy at all.

This research can also be applicable to the procurement side of the supply chain.

Maize milling firms use complex procurement strategies to procure their raw materials, or sometimes no strategy at all. In this research, basic routine price hedging strategies were analysed as part of the procurement of white maize over a ten-year period ranging from 2002–2012. Part of the pricing strategies used to procure white maize over the period of ten years were a call and min/max strategy. These strategies were compared to the baseline spot market. The data was obtained from the Johannesburg Stock Exchange’s Agricultural Products Division better known as SAFEX.

The results obtained from the research prove that by using basic routine price-hedging strategies to procure white maize, it is more beneficial to do so than by procuring from the spot market (a difference of more than R100 mil).

Thus, it can be concluded that it is not always necessary to use a complex method of sourcing white maize through SAFEX, to be efficient. By implementing a basic routine price hedging strategy year on year it can be better than procuring from the spot market.

Understanding the Maize Maze by Dr Dirk Strydom and Manfred Venter (pdf) - The Dairy Mail


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