Methodological basis for justification of the risk-oriented strategy development : the case of a grain trading company

The article discusses the perspectives of hedging instruments used for justification and monitoring the effectiveness of risk-oriented strategies of development of grain trading companies. The analytical tools that support decision-making under risk in agriculture are identified. The characteristics of the occurrence and realization of the risk factors in the grain market, the destructive potential of individual risks of agribusiness are also investigated. The method of strategy development in conditions of high uncertainty in terms of the price on grain and derived products are proposed. It includes identification and assessment of the potential effects of risks, revealing the most dangerous risks for hedging by mean of option models and derivatives. Analytical model for justification of risk-oriented strategy for grain traders companies allows maintaining its financial sustainability regardless of the state of the grain business traditional risks. It positively affects on the key factors of the market value.peer-reviewe

Performance of MEMS-based visible-light adaptive optics at Lick Observatory: Closed- and open-loop control

At the University of California's Lick Observatory, we have implemented an on-sky testbed for next-generation adaptive optics (AO) technologies. The Visible-Light Laser Guidestar Experiments instrument (ViLLaGEs) includes visible-light AO, a micro-electro-mechanical-systems (MEMS) deformable mirror, and open-loop control of said MEMS on the 1-meter Nickel telescope at Mt. Hamilton. In this paper we evaluate the performance of ViLLaGEs in open- and closed-loop control, finding that both control methods give equivalent Strehl ratios of up to ~ 7% in I-band and similar rejection of temporal power. Therefore, we find that open-loop control of MEMS on-sky is as effective as closed-loop control. Furthermore, after operating the system for three years, we find MEMS technology to function well in the observatory environment. We construct an error budget for the system, accounting for 130 nm of wavefront error out of 190 nm error in the science-camera PSFs. We find that the dominant known term is internal static error, and that the known contributions to the error budget from open-loop control (MEMS model, position repeatability, hysteresis, and WFS linearity) are negligible.Comment: 16 pages, 13 figures, to appear in Proc. SPIE 2010 Vol. 7736 Adaptive Optics Systems II, high-resolution full-color version available at http://spiedl.org

What killed Frame Lake? A precautionary tale for urban planners

Frame Lake, located within the city of Yellowknife, Northwest Territories, Canada, has been identified as requiring significant remediation due to its steadily declining water quality and inability to support fish by the 1970s. Former gold mining operations and urbanization around the lake have been suspected as probable causes for the decline in water quality. While these land-use activities are well documented, little information is available regarding their impact on the lake itself. For this reason, Arcellinida, a group of shelled protozoans known to be reliable bioindicators of land-use change, were used to develop a hydroecological history of the lake. The purpose of this study was to use Arcellinida to: (1) document the contamination history of the lake, particularly related to arsenic (As) associated with aerial deposition from mine roaster stacks; (2) track the progress of water quality deterioration in Frame Lake related to mining, urbanization and other activities; and (3) identify any evidence of natural remediation within the lake. Arcellinida assemblages were assessed at 1-cm intervals through the upper 30 cm of a freeze core obtained from Frame Lake. The assemblages were statistically compared to geochemical and loss-on-ignition results from the core to document the contamination and degradation of conditions in the lake. The chronology of limnological changes recorded in the lake sediments were derived from 210Pb, 14C dating and known stratigraphic events. The progress of urbanization near the lake was tracked using aerial photography. Using Spearman correlations, the five most significant environmental variables impacting Arcellinida distribution were identified as minerogenics, organics, As, iron and mercury (p < 0.05; n = 30). Based on CONISS and ANOSIM analysis, three Arcellinida assemblages are identified. These include the Baseline Limnological Conditions Assemblage (BLCA), ranging from 17–30 cm and deposited in the early Holocene >7,000 years before present; the As Contamination Assemblage (ACA), ranging from 7–16 cm, deposited after ∼1962 when sedimentation began in the lake again following a long hiatus that spanned to the early Holocene; and the Eutrophication Assemblage (EA), ranging from 1–6 cm, comprised of sediments deposited after 1990 following the cessation of As and other metal contaminations. The EA developed in response to nutrient-rich waters entering the lake derived from the urbanization of the lake catchment and a reduction in lake circulation associated with the development at the lake outlet of a major road, later replaced by a causeway with rarely open sluiceways. The eutrophic condition currently charactering the lake—as evidenced by a population explosion of eutrophication indicator taxa Cucurbitella tricuspis—likely led to a massive increase in macrophyte growth and winter fish-kills. This ecological shift ultimately led to a system dominated by Hirudinea (leeches) and cessation of the lake as a recreational area

Structural stability of adenylate kinase from the sulfate-reducing bacteria Desulfovibrio gigas

Biophysical Chemistry 110 (2004) 83–92A novel adenylate kinase (AK) has recently been purified from Desulfovibrio gigas and characterized as a Co2+/Zn2+-containing enzyme: this is an unusual characteristic for AKs from Gram-negative bacteria, in which these enzymes are normally devoid of metals. Here, we studied the conformational stability of holo- and apo-AK as a function of temperature by differential scanning calorimetry (DSC), circular dichroism (CD), and intrinsic fluorescence spectroscopy. The thermal unfolding of AK is a cooperative two-state process, and is sufficiently reversible in the 9–11 pH range, that can be correctly interpreted in terms of a simple two-state thermodynamic model. The spectral parameters as monitored by ellipticity changes in the CD spectra of the enzyme as well as the decrease in tryptophan intensity emission upon heating were seen to be good complements to the highly sensitive but integral DSC-method.supported in part by the Fundação para a Ciência e a Tecnologia, Portugal, fellowships BD/13775/97 to OYG, BPD/3518/00 to SAB, SFRH/BD/1067/2000 to DGP, and NATO Scientific Programme Fellowships for Spain, call 2002 to GGZ

Characterizing the Adaptive Optics Off-Axis Point-Spread Function - I: A Semi-Empirical Method for Use in Natural-Guide-Star Observations

Even though the technology of adaptive optics (AO) is rapidly maturing, calibration of the resulting images remains a major challenge. The AO point-spread function (PSF) changes quickly both in time and position on the sky. In a typical observation the star used for guiding will be separated from the scientific target by 10" to 30". This is sufficient separation to render images of the guide star by themselves nearly useless in characterizing the PSF at the off-axis target position. A semi-empirical technique is described that improves the determination of the AO off-axis PSF. The method uses calibration images of dense star fields to determine the change in PSF with field position. It then uses this information to correct contemporaneous images of the guide star to produce a PSF that is more accurate for both the target position and the time of a scientific observation. We report on tests of the method using natural-guide-star AO systems on the Canada-France-Hawaii Telescope and Lick Observatory Shane Telescope, augmented by simple atmospheric computer simulations. At 25" off-axis, predicting the PSF full width at half maximum using only information about the guide star results in an error of 60%. Using an image of a dense star field lowers this error to 33%, and our method, which also folds in information about the on-axis PSF, further decreases the error to 19%.Comment: 29 pages, 9 figures, accepted for publication in the PAS

Characterizing the Thermal Demands and Mobility Performance During International Wheelchair Rugby Competition

ObjectiveTo determine the thermoregulatory responses and mobility performance of wheelchair rugby (WCR) players during international competition.MethodsEleven male National Team WCR players volunteered for the study. Testing occurred during a four game series against international competition (temp 24.7 ± 0.7°C, relative humidity 50.1 ± 3.6%), with movement time (MT) and gastrointestinal temperature (Tgi) recorded continuously.ResultsThe mean maximal Tgi was 38.6 ± 0.6°C (37.9–39.7) and did not significantly differ among Low-Class, Mid-Class, and High-Class athletes (p &gt; 0.05). Moreover, there was a strong and significant relationship between minutes (min) played per quarter of the game and change in Tgi (r = 0.36, p = 0.01). Athletes moved a total of 27:43 ± 9:40 min:seconds (s), spent a total of 15:02 ± 8.23 min:s in Zone 1 (53.5%), 8:19 ± 3:20 min:s in Zone 2 (31.7%), and 5:59 ± 1:51 min:s in Zone 3 (21.3%). There were no differences among classification in total movement time (p = 0.169) or for speed in Zone 1, Zone 2, or Zone 3 (p &gt; 0.05). The relationship between peak forward speed and total movement time was strong (p = 0.021, r = 0.68).ConclusionThis study demonstrated that the time spent in absolute movement zones is not classification dependent, the change in core temperature is related to movement time per quarter. Furthermore, peak speeds obtained on-court were linked to overall movement time which suggests athletes should warm-up before going on court