Evaluating Discrete Dynamic Strategies in Affine Models

We consider the problem of measuring the performance of a dynamic strategy, rebalanced at a discrete set of dates, whose objective is that of replicating a claim in an incomplete market driven by a general multi-dimensional affine process. The main purpose of the paper is to propose a method to efficiently compute the expected value and variance of the hedging error of the strategy. Representing the pay-off the claim as an inverse Laplace transform, we are able to get semi-explicit formulas for strategies satisfying a certain property. The result is quite general and can be applied to a very rich class of models and strategies, including Delta hedging. We provide illustrations for the cases of interest rate models and Heston's stochastic volatility model.

A method validation for simultaneous determination of phthalates and bisphenol A released from plastic water containers

Phthalates (or phthalate esters, PAEs) and bisphenol A (BPA) are widely used in various industries, particularly in the fields of cosmetics and packaging, and they increase the malleability and workability of materials. As a result of their use, some international health organizations have begun to study them. In this study, the authors developed a methodology for the simultaneous determination of dimethyl phthalate (DMP), diethyl phthalate (DEP), diisobutyl phthalate (DiBP); dibutyl phthalate (DBP), bis(2-ethylhexyl) phthalate (DEHP); di-n-octyl-phthalate (DnOP) and bisphenol A (BPA) from drinking and non-potable waters. The extraction of PAEs and BPA was performed using a solvent-based dispersive liquid-liquid microextraction (SB-DLLME) method. The analytical determination was performed using a gas chromatography-ion trap mass spectrometry (GC-IT/MS) analysis. The entire procedure was validated as recoveries were studied according to the volume and the extraction solvent used, pH, and ionic strength. Dynamic linearity ranges and linear equations of all the compounds were experimentally determined as well as the limit of detection (LOD) (1-8 ng mL-1) and the limit of quantification (LOQ) (5-14 ng mL-1), reproducibility, and sensitivity. The method was applied to 15 water samples (mineral water and tap water) for determining PAEs and BPA released from the plastic container. After the release simulation, four PAEs (i.e., DiBP, DBP, DHEP, and DnOP) were determined at very low concentrations (below 1.2 ng mL-1) in two water samples from (sport) bottles

Assessment of sample preparation bias in mass spectrometry-based proteomics

For mass spectrometry-based proteomics, the selected sample preparation strategy is a key determinant for information that will be obtained. However, the corresponding selection is often not based on a fit-for-purpose evaluation. Here we report a comparison of in-gel (IGD), in-solution (ISD), on-filter (OFD), and on-pellet digestion (OPD) workflows on the basis of targeted (QconCAT-multiple reaction monitoring (MRM) method for mitochondrial proteins) and discovery proteomics (data dependent acquisition, DDA) analyses using three different human head and neck tissues (i.e. nasal polyps, parotid gland, and palatine tonsils). Our study reveals differences between the sample preparation methods, for example with respect to protein and peptide losses, quantification variability, protocol-induced methionine oxidation and asparagine/glutamine deamidation as well as identification of cysteine containing peptides. However, none of the methods performed best for all types of tissues, which argues against the existence of a universal sample preparation method for proteome analysis

Metabolomics Advanced and Applied: Shrinking the metabolomic knowledge gap by advancing and applying metabolomics in integrated multi-omics

Some of the most exciting questions in chemistry lay within the realm of molecular biology. Although different disciplines, throughout history we see chemists and chemical techniques leading the way in important biological discoveries. Metabolomics is a new, developing technique in molecular biology that is spurred on by technical innovations, primarily from the chemistry and engineering fields. Here, two different liquid chromatography mass spectrometry techniques and state-of-the-art bioinformatic tools are employed to help expand the field of metabolomics. In the application phase of this project, metabolomic techniques were applied in a multiomic experiment to elucidate the metabolic pathways used in Staphylococcus. Multi-omics are the coupling of multiple omics techniques such as metabolomics, genomics, and proteomics. In particular, an Ultra-Performance Liquid Chromatography-High Resolution Mass Spectrometry platform was used with a semi-targeted metabolomics technique. Large fold-changes are observed in metabolites mevalonate and phosphomevalonate, which are important distinguishing metabolites between the two isoprenoid synthesis routes. This is used to characterize isolates based on which metabolic pathway they use. This is further verified and expanded by the use of comparative genomics. In the developmental phase of this project, metabolomics techniques were advanced by testing and comparing different extraction methods for multiomic analyses. In this case, chloroform-based extractions were tested against methyl-tert-butyl ether-based extractions to collect metabolites, lipids, and proteins simultaneously. This was analyzed using a High-Performance Liquid Chromatography-High Resolution Mass Spectrometry platform with split-flow nano chromatography and electrospray ionization. Additionally, the cell lysis method is investigated to determine its impact on extraction efficiency and metabolite degradation. Optimizing extraction procedures will make multi-omics faster, easier, and more reliable, thereby facilitating greater use of metabolomics in multi-omics experiments

Integrated Scenario-Based Methodology for Project Risk Management

Project risk management is currently used in several industries and mandated by government acquisition agencies around the world to manage uncertainty in an effort to improve a project's probability of success. Common practice involves developing a list of risk items scored with probability and consequence ordinal scales by committee usually focusing on cost and schedule issues. A scenario based process modeling construct is introduced using a hybrid Probabilistic Risk Assessment and Decision Analysis framework integrating project development risks with operational system risks. Project management's decisions are explicitly modeled and ranked based on risk importance to the project. Multiple consequence attributes are unified providing a basis for computing total project risk. This study shows that such an approach leads to an analysis system where scenarios tracing risk items to many possible consequences are explicitly understood; the interaction between cost, schedule, and performance models drive the analysis; probabilities for overruns, delays, increased system hazards are determined directly; and state-of-the-art quantification techniques are directly applicable. All these enhance project management's capability to respond with more effective decisions

Optimization and evaluation of multi-bed adsorbent tube method in collection of volatile organic compounds

The feasibility of using adsorbent tubes to collect volatile organic compounds (VOCs) has been demonstrated since the 1990's and standardized as Compendium Method TO-17 by the U.S. Environmental Protection Agency (U.S EPA). This paper investigates sampling and analytical variables on concentrations of 57 ozone (O-3) precursors (C-2-C-12 aliphatic and aromatic VOCs) specified for the Photochemical Assessment Monitoring Station (PAMS). Laboratory and field tests examined multi-bed adsorbent tubes containing a sorbate combination of Tenax TA, Carbograph 1 TD, and Carboxen 1003. Analyte stabilities were influenced by both collection tube temperature and ambient O-3 concentrations. Analytes degraded during storage, while blank levels were elevated by passive adsorption. Adsorbent tube storage under cold temperatures (- 10 degrees C) in a preservation container filled with solid silica gel and anhydrous calcium sulfate (CaSO4) ensured sample integrity. A high efficiency (> 99%) O-3 scrubber (i.e., copper coil tube filled with saturated potassium iodide [KM removed O-3 (i.e., < 200 ppbv) from the air stream with a sampling capacity of 30 h. Water vapor scrubbers interfered with VOC measurements. The optimal thermal desorption-gas chromatography/mass spectrometry (TD-GC/MS) desorption time of 8 min was found at 330 degrees C. Good linearity (R-2 > 0.995) was achieved for individual analyte calibrations (with the exception of acetylene) for mixing ratios of 0.08-1.96 ppbv. The method detection limits (MDLs) were below 0.055 ppbv for a 3 L sample volume. Replicate analyses showed relative standard deviations (RSDs) of < 10%, with the majority of the analytes within < 5%

A microdestructive capillary electrophoresis method for the analysis of blue-pen-ink strokes on office paper

This manuscript describes the development of a capillary electrophoresis (CE) method for the detection of acid and basic dyes and its application to real samples, blue-pen-ink strokes onoffice paper. First, a capillary zone electrophoresis (CZE) method was developed for the separation of basic and acid dyes, by studying the separation medium (buffer nature, pH andrelative amount of additive) and instrumental parameters (temperature, voltage and capillary dimensions). The method performance was evaluated in terms of selectivity, resolution (above 5 and 2 for acid dyes and basic dyes, respectively, except for two basic dye standards), LOD (lower than 0.4 mg/L) and precision as intraday and interday RSD values of peak migrationtimes (lower than 0.6 %). The developed method was then applied to 34 blue pens from different technologies (rollerball, ballpoint, markers) and with different ink composition (gel, 30 water-based, oil-based). A microdestructive sample treatment using a scalpel to scratch 0.3 mg of ink stroke was performed. The entire electropherogram profile allowed the visual discrimination between different types of ink and brands, being not necessary a statistical treatment. A 100% of discrimination was achieved between pen technologies, brands, and models, although non-reproducible zones in the electropherograms were found for blue gel pen samples. The two different batches of blue oil-based pens were also differentiated. Thus, this method provides a simple, microdestructive, and rapid analysis of different blue pentechnologies which may complement the current analysis of questioned documents performed by forensic laboratories

Complex inner shelf environments: Observations and modeling of morphodynamics and scour processes

The inner continental shelf is a complex environmental system marked by sharp variations in bed roughness. Such heterogeneous systems account for 80% of the non-rocky inner shelves worldwide. Interactions among forces (waves, tides, turbulence, and bioturbation) and roughness elements (bed forms, rocks, and anthropogenic objects) exert major controls on sedimentary processes. This study attempts to advance the knowledge and understanding of the morphodynamics of the inner shelf. This study investigates scour and morphodynamic processes at Tairua, New Zealand; Cedar Island, Virginia; Indian Rocks Beach, Florida; and Beaufort Inlet, North Carolina. Using data from the field, the study develops new conceptual models to characterize and quantify the hydrodynamics and morphology of the seabed. The overall dataset includes side-scan sonograms, sub-bottom profiles, grain-size analyses, suspended sediment concentrations and hydrodynamic measurements. Analysis of the morphological data yielded a six-type classification of bottom features previously termed Rippled Scour Depressions (RSDs). The observed stratigraphic signature of RSDs does not agree with the previous interpretation of their formation. Striking spatial and temporal variations in seabed roughness produce significant enhancements of hydraulic roughness and turbulence over different substrates resulting in a self-organized, feed-back system of erosion (scour), deposition, and modified bed forms. The study demonstrates that widely used ripple models inadequately predict bed form geometry and behavior, especially during storms. Improved understanding of scour processes developed in this study leads to a new model of scour and burial of sea-bed objects such as naval mines and archaeological artifacts. When using the model to predict scour and burial, the greatest errors result from the uncertainties in the available forecasts of wave conditions. The model includes vertical variations in sediment characteristics as field observations indicate abrupt changes in substrate substantially alter the scour process. The overall study makes substantial contributions to the general understanding of RSD behavior by tying together detailed field studies with applicable insights from the area of complexity research. A new conceptual model of complex phase-transition is developed, involving critical process factors (hydrodynamics, underlying geology, and depth), which contribute to the observed spatial complexity and temporal variability of different RSD types

Dark Clouds or Silver Linings? Knightian Uncertainty and Climate Change

This paper examines the impact of Knightian uncertainty upon optimal climate policy through the prism of a continuous-time real option modelling framework. We analytically determine optimal intertemporal climate policies under ambiguity. Additionally, numerical simulations are provided to illustrate the properties of the model. The results indicate that increasing Knightian uncertainty accelerates climate policy, i.e. policymakers become more reluctant to postpone the timing of climate policies into the future.climate change, Knightian uncertainty, ê ambiguity, real options