Monopoly power limits hedging

When a spot market monopolist participates in a derivatives market, she has an incentive to deviate from the spot market monopoly optimum to make her derivatives market position more profitable. When contracts can only be written contingent on the spot price, a risk-averse monopolist chooses to participate in the derivatives market to hedge her risk, and she reduces expected profits by doing so. However, eliminating all risk is impossible. These results are independent of the shape of the demand function, the distribution of demand shocks, the nature of preferences or the set of derivatives contracts

Agreement Between the Stages Cycling and SRM Powermeter Systems during Field-Based Off-Road Climbing.

The aim of this study was to determine the agreement between two portable cycling powermeters for use doing field based mountain biking. A single participant performed 15 timed ascents of an off-road climbs. The participants bicycle was instrumented with Stages Cycling and SRM powermeters. Mean and peak power output and cadence were recorded at 1 s intervals by both systems. Significant differences were determined using paired t-tests, whilst agreement was determined using 95% ratio limits of agreement (LoA). Significant differences were found between the two systems for mean power output (p<.001), with the Stages powermeter under reporting power by 8 % compared to the SRM. LoA for mean power output were 0.92 ×÷ 1.02 (95% LoA = 0.90 – 0.93). Peak power output was also significantly lower with the Stages powermeter (p=.02) by 5 % when compared to the SRM powermeter. LoA for peak power output were 0.94 ×÷ 1.09 (95% limits of agreement = 0.87 – 1.03). Significant differences were found for mean cadence between the two powermeters (p=.009), with LoA being 0.99 ×÷ 1.01 (95% limits of agreement = 0.99 – 1.00). This study found that though the Stages Cycling powermeter provided a reliable means of recording power output and cadence, the system significantly underestimated mean and peak power output when compared with the SRM system. This may in part be due to differences in strain gauge configuration and the subsequent algorithms used in the calculation of power output and the potential influence of bilateral imbalances within the muscles may have on these calculations

Performance of silicon solar cell assemblies

Solar cell assembly current-voltage characteristics, thermal-optical properties, and power performance were determined. Solar cell cover glass thermal radiation, optical properties, confidence limits, and temperature intensity effects on maximum power were discussed

On Scaling Limits of Power Law Shot-noise Fields

This article studies the scaling limit of a class of shot-noise fields defined on an independently marked stationary Poisson point process and with a power law response function. Under appropriate conditions, it is shown that the shot-noise field can be scaled suitably to have a $\alpha$-stable limit, intensity of the underlying point process goes to infinity. It is also shown that the finite dimensional distributions of the limiting random field have i.i.d. stable random components. We hence propose to call this limte the $\alpha$- stable white noise field. Analogous results are also obtained for the extremal shot-noise field which converges to a Fr\'{e}chet white noise field. Finally, these results are applied to the analysis of wireless networks.Comment: 17 pages, Typos are correcte

Controlling Financial Chaos: The Power and Limits of Law

This Essay examines how law can help to control financial chaos. To that end, regulation should strive to not only maximize economic efficiency within the financial system but also protect the financial system itself. Any regulatory framework for achieving these goals, however, will be imperfect and have tradeoffs. Increasing financial complexity has created information failures that even disclosure cannot remedy, whereas law-imposed standardization would have its own flaws. Bounded human rationality limits the effectiveness of even otherwise ideal laws. Furthermore, the increasing dispersion of financial risk is undermining monitoring incentives. We also do not yet fully understand how systemic risk is triggered and spread. Because regulation therefore cannot prevent systemic shocks, regulation should also operate to reduce systemic consequences by stabilizing parts of the financial system afflicted by those shocks

The 20 kWe NEP system studies

The topics are presented in viewgraph form and include the following: initial study groundrules; power system groundrules/assumptions; power technologies assessment; prototype SP-100 system specific mass; custom SP-100 system specific mass; radiator packaging limits; Brayton system specific mass and radiator area; thermoelectric specific mass and radiator area; specific mass for prototype vs. custom SP-100-based systems; system packaging limits on power level (kWe); and a conceptual nuclear electric propulsion (NEP) science mission spacecraft design

High-speed square-wave current limiter operates efficiently

Transistorized high speed circuit limits currents from a square-wave ac power supply. The current limiter resets after each half cycle of the square wave and thus minimizes power losses

Convergence Rate Estimates for the Low Mach and Alfv\'en Number Three-Scale Singular Limit of Compressible Ideal Magnetohydrodynamics

Convergence rate estimates are obtained for singular limits of the compressible ideal magnetohydrodynamics equations, in which the Mach and Alfv\'en numbers tend to zero at different rates. The proofs use a detailed analysis of exact and approximate fast, intermediate, and slow modes together with improved estimates for the solutions and their time derivatives, and the time-integration method. When the small parameters are related by a power law the convergence rates are positive powers of the Mach number, with the power varying depending on the component and the norm. Exceptionally, the convergence rate for two components involve the ratio of the two parameters, and that rate is proven to be sharp via corrector terms. Moreover, the convergence rates for the case of a power-law relation between the small parameters tend to the two-scale convergence rate as the power tends to one. These results demonstrate that the issue of convergence rates for three-scale singular limits, which was not addressed in the authors' previous paper, is much more complicated than for the classical two-scale singular limits

Constraints on the annihilation cross section of dark matter particles from anisotropies in the diffuse gamma-ray background measured with Fermi-LAT

Annihilation of dark matter particles in cosmological halos (including a halo of the Milky Way) contributes to the diffuse gamma-ray background (DGRB). As this contribution will appear anisotropic in the sky, one can use the angular power spectrum of anisotropies in DGRB to constrain properties of dark matter particles. By comparing the updated analytic model of the angular power spectrum of DGRB from dark matter annihilation with the power spectrum recently measured from the 22-month data of Fermi Large Area Telescope (LAT), we place upper limits on the annihilation cross section of dark matter particles as a function of dark matter masses. We find that the current data exclude <\sigma v> >~ 10^{-25} cm^3 s^{-1} for annihilation into b\bar{b} at the dark matter mass of 10 GeV, which is a factor of three times larger than the canonical cross section. The limits are weaker for larger dark matter masses. The limits can be improved further with more Fermi-LAT data as well as by using the power spectrum at lower multipoles (l <~ 150), which are currently not used due to a potential Galactic foreground contamination.Comment: 13 pages, 18 figures, comments welcom