Portfolio Analysis for Optimal Seafood Product Diversification and Resource Management

Future harvests from commercial fish stocks are unlikely to increase substantially due to biological and regulatory constraints. Developing alternative sets of processed seafood products is one strategy for increasing welfare while managing the risks inherent in a variable and renewable natural resource. To quantify the risk-benefit tradeoffs of alternative strategies, a portfolio decision framework is embedded into a multi-period bioeconomic model. The model is used to generate an efficient portfolio frontier to estimate possible rent dissipation from status quo management. Frontiers are also generated for seafood processors and brokers. Implications for the different industry agents are discussed.bioeconomic analysis, dynamic optimization, Markowitz, Pacific whiting, portfolio analysis, resource management, seafood processing, Resource /Energy Economics and Policy,

Copper Price Discovery on Comex, the LME and the SHFE, 2001-2013

Over the past two decades, China has come to dominate international commerce in copper. The importance of the Shanghai Futures Exchange(SHFE) has increased in response to this development. We look at the distribution of price discovery between the SHFE and the two historically important copper futures exchanges, Comex and the LME. The resultsindicate that it is Comex, followed by the SHFE, not the LME which plays the most important role in copper price discovery. We also highlighta number of problems associated with both the calculation and interpretation of the standard IS and PT price discovery measures when used to look at overlapping price change on non-synchronous markets.The results offer a clearer interpretation in terms of trading slots (European, North American and Asian trading days) than in terms of exchanges

Towards reducing the capital cost of manufacturing Laminated Veneer Lumbers: Investigating finger jointing solutions

The capital cost of setting up a Laminated Veneer Lumber (LVL) plant which produces continuous LVL billet products, through a continuous veneer assembly and hot-pressing processes, is significant. However, the utilisation of batch-type presses, similar to those employed in the plywood industry, could significantly reduce this initial cost and may provide new opportunities for small to medium scale operations. This process would produce shorter billet lengths which would need to be joined together to produce lengths viable for structural products. Scarf joints have been used commercially to join some veneer-based engineered wood products but have limitations, while finger joints are a common method for jointing sawn timber products and offer some key advantages but is not a common method to join veneer-based products. Consequently, this paper focusses on investigating the influence of key manufacturing parameters on the performance of finger jointed LVL. The effect of the joint orientation (horizontal or vertical), the finger length, the gluing pressure and the adhesive type on the joint strength and stiffness were investigated. The finger jointed LVL were tested in edge bending, flat bending and tension, and the results were compared to reference unjointed LVL. The bending performance of the finger jointed LVL was also compared to scarfed jointed LVL. In total 304 tests were performed. The results indicated that the average strength values of finger jointed LVL can reach up to 99% of the average strength of unjointed LVL and compares to scarf jointed LVL on flat bending. Horizontal joints, being more practical to produce for deep beams, performed similarly to vertical joints. The 25 mm joints were found to have no mechanical advantages over the 20 mm investigated finger joints. A gluing pressure lower than the Eurocode's recommended level for solid timber achieved sufficient bonding for the products to be utilised. The gluing pressure was also found not to influence the performance of the joint, for the range of pressures investigated. Both polyurethane and resorcinol-formaldehyde adhesives produced high performing products, with the latter displaying superior adhesive bond durability. The paper concludes that finger jointing LVL represents a viable solution to manufacture usable LVL lengths from short LVL billets, but have lower edge bending efficiency than scarf jointed LVL

Viper

A Viper aircraft was redesigned with a new airfoil and engine to verify if improvements can be made to the baseline configuration. The two major redesigning processes were: replacing the baseline aircraft's NACA 652-415 airfoil with an NLF 0414 Natural Laminar Flow airfoil, and the baseline aircraft's Lycoming 0-235 engine with a Teledyne Continental GR-36 rotary combustion engine. As a result of these changes: (1) the Viper aircraft becomes smaller in most respects (gross weight, wing platform area, and horizontal tail area); (2) overall drag of the aircraft decreased (due to reduction in area and the reduced drug of the new airfoil); (3) cruise velocity, the maximum rate of climb at sea level, and takeoff distance (but not landing distance) decreased; and (4) cost increased. Although the overall drag decreased, the performance remained about the same due to the reduced horsepower available from the Teledyne Continental engine

Superconductivity up to 29 K in SrFe2As2 and BaFe2As2 at high pressures

We report the discovery of superconductivity at high pressure in SrFe2As2 and BaFe2As2. The superconducting transition temperatures are up to 27 K in SrFe2As2 and 29 K in BaFe2As2, making these the highest pressure-induced superconducting materials discovered thus far.Comment: Accepted in Journal of Physics: Condensed Matte

Correspondence: Between DWC Task Forces and Committees. 1990-1999

Primarily incoming and outgoing letters regarding individual committee activities, nominations for awards and elections, and membership issues

Associations of vitamin D pathway genes with circulating 25-hydroxyvitamin-D, 1,25-dihydroxyvitamin-D, and prostate cancer:a nested case-control study

Vitamin D pathway single nucleotide polymorphisms (SNPs) are potentially useful proxies for investigating whether circulating vitamin D metabolites [total 25-hydroxyvitamin-D, 25(OH)D; 1,25-dihydroxyvitamin, 1,25(OH)2D] are causally related to prostate cancer. We investigated associations of sixteen SNPs across seven genes with prostate-specific antigen-detected prostate cancer

Type IIb Supernova SN 2011dh: Spectra and Photometry from the Ultraviolet to the Near-Infrared

We report spectroscopic and photometric observations of the Type IIb SN 2011dh obtained between 4 and 34 days after the estimated date of explosion (May 31.5 UT). The data cover a wide wavelength range from 2,000 Angstroms in the UV to 2.4 microns in the NIR. Optical spectra provide line profiles and velocity measurements of HI, HeI, CaII and FeII that trace the composition and kinematics of the SN. NIR spectra show that helium is present in the atmosphere as early as 11 days after the explosion. A UV spectrum obtained with the STIS reveals that the UV flux for SN 2011dh is low compared to other SN IIb. The HI and HeI velocities in SN 2011dh are separated by about 4,000 km/s at all phases. We estimate that the H-shell of SN 2011dh is about 8 times less massive than the shell of SN 1993J and about 3 times more massive than the shell of SN 2008ax. Light curves (LC) for twelve passbands are presented. The maximum bolometric luminosity of $1.8 \pm 0.2 \times 10^{42}$ erg s$^{-1}$ occurred about 22 days after the explosion. NIR emission provides more than 30% of the total bolometric flux at the beginning of our observations and increases to nearly 50% of the total by day 34. The UV produces 16% of the total flux on day 4, 5% on day 9 and 1% on day 34. We compare the bolometric light curves of SN 2011dh, SN 2008ax and SN 1993J. The LC are very different for the first twelve days after the explosions but all three SN IIb display similar peak luminosities, times of peak, decline rates and colors after maximum. This suggests that the progenitors of these SN IIb may have had similar compositions and masses but they exploded inside hydrogen shells that that have a wide range of masses. The detailed observations presented here will help evaluate theoretical models for this supernova and lead to a better understanding of SN IIb.Comment: 23 pages, 14 figures, 9 tables, accepted by Ap

Training emergency services’ dispatchers to recognise stroke: an interrupted time-series analysis

Background: Stroke is a time-dependent medical emergency in which early presentation to specialist care reduces death and dependency. Up to 70% of all stroke patients obtain first medical contact from the Emergency Medical Services (EMS). Identifying ‘true stroke’ from an EMS call is challenging, with over 50% of strokes being misclassified. The aim of this study was to evaluate the impact of the training package on the recognition of stroke by Emergency Medical Dispatchers (EMDs). Methods: This study took place in an ambulance service and a hospital in England using an interrupted time-series design. Suspected stroke patients were identified in one week blocks, every three weeks over an 18 month period, during which time the training was implemented. Patients were included if they had a diagnosis of stroke (EMS or hospital). The effect of the intervention on the accuracy of dispatch diagnosis was investigated using binomial (grouped) logistic regression. Results: In the Pre-implementation period EMDs correctly identified 63% of stroke patients; this increased to 80% Post-implementation. This change was significant (p=0.003), reflecting an improvement in identifying stroke patients relative to the Pre-implementation period both the During-implementation (OR=4.10 [95% CI 1.58 to 10.66]) and Post-implementation (OR=2.30 [95% CI 1.07 to 4.92]) periods. For patients with a final diagnosis of stroke who had been dispatched as stroke there was a marginally non-significant 2.8 minutes (95% CI −0.2 to 5.9 minutes, p=0.068)reduction between Pre- and Post-implementation periods from call to arrival of the ambulance at scene. Conclusions: This is the first study to develop, implement and evaluate the impact of a training package for EMDs with the aim of improving the recognition of stroke. Training led to a significant increase in the proportion of stroke patients dispatched as such by EMDs; a small reduction in time from call to arrival at scene by the ambulance also appeared likely. The training package has been endorsed by the UK Stroke Forum Education and Training, and is free to access on-line