No-arbitrage condition and existence of equilibrium with dividends

In this paper we first give an elementary proof of existence of equilibrium with dividends in an economy with possibly satiated consumers.We then introduce a no-arbitrage condition and show that it is equivalent to the existence of equilibrium with dividends.equilibrium with dividends, economy with possibly satiated consumers, no-arbitrage condition

No-arbitrage condition and existence of equilibrium with dividends

International audienceIn this paper we first give an elementary proof of existence of equilibrium with dividends in an economy with possibly satiated consumers.We then introduce a no-arbitrage condition and show that it is equivalent to the existence of equilibrium with dividends

A nonlinear concrete damaged plasticity model for simulation reinforced concrete structures using ABAQUS

The reinforced concrete structure is typical and widely used in many fields. The behavior of concrete is nonlinear and complex. Especially, when cracks/crushings occurred in softening phase. Thus, It is important to find a damaged model of concrete with high reliability in the numerical simulation. The nonlinear behavior of concrete is the most feature used in the simulation. This characteristic is expressed through the parameters defining the yield surface, the flow potential, and the nonlinear relationship of stress-strain in the cases of tension and compression. This paper introduces a damaged concrete model that applies to the simulation of reinforced concrete structures. The reinforced concrete beam and flat slab are selected as examples to evaluate the reliability of the model presented. Through the results achieved, the model used in this paper shows high reliability and can be used to simulate more complex reinforced concrete structures

A novel autonomous wireless sensor node for IoT applications

A novel wireless sensor network node (WSNN) is presented in this paper where the solar energy harvester system is used as an autonomous power solution for endless battery lifetime. In this sensor node, the meander-line Inverted-F-Antenna (MIFA) is proposed and integrated in a single -CC2650 chip of Texas Instrument. The simple structure, low cost, compact size, high efficiency and low power consumption are advantages of this single-chip WSNN. The experimental results show that MIFA antenna is promising solution to enhance communication performance in WSN. In addition, the investigated single-chip WSNN with multi-wireless technologies including Bluetooth Low Energy and Zigbee as well as 6LowPAN is an attractive device for internet of thing (IoT) applications

Growth Strategy with social Capital and Physical Capital- Theory and Evidence: the Case of Vietnam

URL des Documents de travail : http://ces.univ-paris1.fr/cesdp/cesdp2014.htmlDocuments de travail du Centre d'Economie de la Sorbonne 2014.45 - ISSN : 1955-611XWe study the impact of social capital in both simple theoretical and empirical model with the main assumption is the price of physical capital is a decreasing function of social capital. In our theoretical model, there exists a critical value such that firm will not invest in social capital if its saving is lower than the critical value and otherwise. Moreover, the output depends positively and non-linearly on the social capital. Our empirical model that captures the impact of physical capital, human capital, and social capital using the database from Survey of Small and Medium Scale Manufacturing Enterprises (SMEs) in Vietnam 2011, confirms the conclusions of the theoretical model.Dans ce papier, nous étudions l'impact du capital social dans un modèle simple à la fois théorique et empirique. L'hypothèse cruciale est que le coût du capital physique, grâce aux contacts sociaux diminue par rapport aux dépenses en capital social. Dans le modèle théorique, nous montrons qu'il existe un seuil critique de l'épargne destinée aux dépenses en capital social. Les firmes dont l'épargne est inférieur à ce seuil ne vont pas investir en capital social. Nous montrons de plus que les productions dépendent positivement des dépenses en capital social. Les résultats du modèle empirique, en utilisant les données de Survey of Small and Medium Scale Manufacturing Enterprises du Vietnam de l'année 2011, confirment les résultats du modèle théorique

CAMELLIA SPHAMII (THEACEAE, SECT. PIQUETIA), A NEW TAXON OF YELLOW FLOWER FROM LANGBIANG BIOSPHERE RESERVE, VIETNAM

Camellia sphamii is described and illustrated as a new species of section Piquetia from Hamasin village, D’ran town, Don Duong district, Lam Dong province, Vietnam. C. sphamii is similar to C. proensis (Quach, Luong et al., 2021) but differs from it in several morphological features: mature leaves cordate at base, young leaves purple; pericarp 7–8 mm thick with dense hair on the outer surface, flower buds ovate, ferruginous; sepals 5, hemisphere, concave, finely hairy on the outer surface, sparsely hairy on the inside, petals 7, finely hairy on the outer surface, with translucent margin, concave; style 5, ½ basally united; capsule 5 locular. Information on its phenology, distribution, ecology, and conservation status is also provided

Application correlation algorithm to create a new critical depth equation for gradually varied flow in trapezoidal channel using teaching–learning and studying

The critical depth is a hydraulic factor of the flow, it plays a particularly important role in studying and designing for open channels, especially during identification of water surfaces and analyzing to determine the phenomenon of a hydraulic jump in open channel. In practice, when calculating the critical depth, only the rectangular and isosceles triangle channels have the theory equation, in other circumstances in calculating by semi empirical equations. This paper presents the general method to compute the critical depth of trapezoidal channel, the case study methodology was chosen to analyze the application of existing formulas and then offering a new equation to compute the critical depth based on the optimization algorithm in MS Excel software. This new equation will help to obtain more accurate result, which relative error of the equation is less than 0.61%, this equation has a simple structure, easy to calculate with small errors to meet the conditions to quickly calculate the critical depth, this equation is also suitable for teaching–learning and studying in the field of hydraulics

Double-Curvature Test of Reinforced Concrete Columns Using Shaking Table: A New Test Setup

This paper proposes a new test setup to study the double-curvature behavior of reinforced concrete (RC) columns using shaking table. In this setup, the seismic action is simulated by the horizontal movement of a long-heavy rigid mass sitting on the top of only one test specimen. The double-curvature mechanism of specimen is affected by the movement of the concrete mass on a test rig consisting four steel hollow-section columns fully anchored to the shaking table. Application of axial load on the specimen is made possible through a pre-stressing equipment connecting to its top and bottom bases. The current setup offers two improvements over the previous ones. First, it makes available greater ranges of test data for conducting bigger sizes of the specimens. Second, it allows to directly measure the variation of axial force in the test specimens while the test implementation can be fast and easy with a high safety margin even until the complete collapse of the test units. The current test setup has been successfully applied on two ½ scaled V-shaped columns. It has been shown that the column specimen with a low axial load level of 0.05f’cAg, where f’c is the concrete strength and Ag is the cross-sectional area of the specimen, can well survive at a ground peak acceleration up to 5.5 (m/s2) with a drift ratio of approximately 2.91%. Meanwhile, the column subjected to moderate axial load level of 0.15f’cAg can survive at a higher ground peak acceleration of 8.0 (m/s2) with a drift ratio of 3.75%. Furthermore, it is experimentally evidenced that the V-shaped cross-section does not deform in-plane under seismic action. The angle between two planes corresponding to the column web and flange are up to 0.03 (rad). This finding is significant since it contradicts the plane strain assumption available in the current design practice

Identification de la conductivité thermique d'un polymère semi-cristallin en exploitant la mesure de température au c ur d'une pièce moulée par injection

La conductivité thermique des matériaux polymères est un paramètre déterminant pour l'étude de l'influence de la mise en uvre sur l'évolution des propriétés mécaniques des objets moulés. L'objectif de ce travail est d'identifier la conductivité thermique d'un polymère semi-cristallin en exploitant les mesures de température au c ur d'une pièce moulée par injection. La méthode adoptée est basée sur un calcul inverse par recalage éléments finis. Les résultats obtenus sont comparés aux mesures expérimentales obtenues par conductivimètre

Isolation, screening antimicrobial activity and identification of fungi from marine sediments of the area Thanh Lan, Co To, Vietnam

Marine environment is rich in natural product resources, including marine microorganisms, especially fungi which are not only seen as a potential source of highly applicable bioactive substances but also can provide for science new chemical structures. The objective of this study is to isolate and screen fungal strains with antibacterial activity from the marine environment. Twenty five strains of fungi were isolated from marine sediments of Thanh Lan, Co To island and assessed on antibiotic activity against 7 tested microbial strains, including three Gram-negative bacteria (Escherichia coli ATCC25922, Pseudomonas aeruginosa ATCC27853, Salmonella enterica ATCC13076), three Gram-positive bacteria (Enterococcus faecalis ATCC29212, Stapphylococus aureus ATCC25923, Bacillus cereus ATCC 13245), and the yeast Candida albicans ATCC10231. The minimum inhibitory concentration (MIC) against the tested microorganisms was determined for the crude extracts obtained from the culture broths after ethyl acetate extraction and vacuum rotary evaporation. Three strains with the highest antimicrobial activity M26, M30 and M45 were capable of inhibiting 4 - 5 of the 7 tested microorganisms with MIC values from 64 to 256 μg/ml, depending on each tested strain. Morphological and phylogenetic investigations based on 18S rRNA gene sequences of the three selected strains showed that strains M26 and M30 belonged to the genus Penicillium, whereas strain M45 belonged to the genus Neurospora. The sequences of 18S rRNA gene of three strains M26, M30 and M45 were registered on GenBank database with accession numbers: MH673730, MH673731, MH673732, respectively. Research results showed that marine environment has a great potential in isolation of fungal strains for the search for antibacterial substances as well as other biologically active compounds