7,493 research outputs found

    Inequality and identity in contemporary processes of labour market restructuring

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    Contemporary processes of labour market restructuring have resulted in increasing social and spacial inequalities in the United Kingdom. While the well discussed-issues of class, race and gender continue to be correlated to inequality, the decline in manufacturing jobs and rise in low-level service work has brought a new reality of identity-correlation. To remain employed, workers must increasingly transcend their geography and current job role; presenting an identity that is appealing to employers. Thus, in today's labour market with its increasing economic polarisation, previously strong social and work identities are now challenged by the logic of capital

    A Penalty Method for the Numerical Solution of Hamilton-Jacobi-Bellman (HJB) Equations in Finance

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    We present a simple and easy to implement method for the numerical solution of a rather general class of Hamilton-Jacobi-Bellman (HJB) equations. In many cases, the considered problems have only a viscosity solution, to which, fortunately, many intuitive (e.g. finite difference based) discretisations can be shown to converge. However, especially when using fully implicit time stepping schemes with their desirable stability properties, one is still faced with the considerable task of solving the resulting nonlinear discrete system. In this paper, we introduce a penalty method which approximates the nonlinear discrete system to first order in the penalty parameter, and we show that an iterative scheme can be used to solve the penalised discrete problem in finitely many steps. We include a number of examples from mathematical finance for which the described approach yields a rigorous numerical scheme and present numerical results.Comment: 18 Pages, 4 Figures. This updated version has a slightly more detailed introduction. In the current form, the paper will appear in SIAM Journal on Numerical Analysi

    A cryogenic dc-dc power converter for a 100kW synchronous HTS generator at liquid nitrogen temperatures

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    A dc-dc converter has been developed for retrofitting inside the vacuum space of the HTS rotor of a synchronous generator. The heavy copper sections of the current leads used for energising the HTS field winding were replaced by cryogenic power electronics; consisting of the converter and a rotor control unit. The converter board was designed using an H-bridge configuration with two 5A rated wires connecting the cryogenic boards to the stator control board located on the outside of the generator and drawing power from a (5A, 50V) dc power source. The robustness of converter board was well demonstrated when it was powered up from a cold start at 82K. When charging the field winding with moderate currents (30A), the heat in-leak to the ‘cold’ rotor core was only 2W. It continued to function down to 74K, surviving several quenches. However, the quench protection function failed when injecting 75A into the field winding, resulting in the burn out of one of the DC-link capacitors. The magnitudes of the critical currents measured with the original current leads were compared to the quench currents, which was defined as the current which triggered quench protection protocol. The difference between the two currents was rather large, (~20A). However, additional measurements using a single HTS coil in liquid nitrogen found that this reduction should not be so dramatic and in the region of 4A. Our conclusions identified the converter’s switching voltage and its operating frequency as two parameters, which could have contributed to lowering the quench current. Magnetic fields and eddy currents are expected to be more prominent the field winding and its impact on the converter also need further investigation
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