MARKETING FINANCIAL PRODUCTS WITHIN THE ACTIVITY OF INVESTMENT BANKS

A production system which produces a large number of items in many steps can be modelled as a continuous flow problem. The resulting hyperbolic partial differential equation (PDE) typically is nonlinear and nonlocal, modeling a factory whose cycle time depends nonlinearly on the work in progress. One of the few ways to influence the output of such a factory is by adjusting the start rate in a time dependent manner.We study two prototypical control problems for this case: i) demand tracking where we determine the start rate that generates an output rate which optimally tracks a given time dependent demand rate and ii) backlog tracking which optimally tracks the cumulative demand. The method is based on the formal adjoint method for constrained optimization, incorporating the hyperbolic PDE as a constraint of a nonlinear optimization problem. We show numerical results on optimal start rate profiles for steps in the demand rate and for periodically varying demand rates and discuss the influence of the nonlinearity of the cycle time on the limits of the reactivity of the production system. Differences between perishable and non-perishable demand (demand vs. backlog tracking) are highlighted

Influence of moisture content and gaps on the withdrawal resistance of self tapping screws in CLT

Self-tapping screws (STS) have been proclaimed as the easiest solution for structural timber connections, in special for cross laminated timber (CLT) constructions. In order to understand deeply the composite model “CLT-STS”, an experimental campaign which comprised 270 withdrawal tests was carried out. Maximum withdrawal load capacity of self-tapping screws inserted in plane side of a three layered CLT panel was evaluated considering three main parameters: moisture levels of CLT (i), number of gaps (ii) and the width of gaps (iii). Regarding (i), connections were tested with CLT at 8%, 12% and 18% of moisture content. Concerning (ii) and (iii), different test configurations with 1, 2 and 3 gaps, with 0 or 4mm, were tested. The influences of moisture content and number of gaps were modeled. Further a correlation between test results and a prediction model developed by Uibel and Blaß (2007) has been proposed

The influences of moisture content variation, number and width of gaps on the withdrawal resistance of self tapping screws inserted in cross laminated timber

A large experimental campaign comprised of 470 withdrawal tests was carried out, aiming to quantify the withdrawal resistance of self-tapping screws (STS) inserted in the side face of cross laminated timber (CLT) elements. In order to deeply understand the “CLT-STS” composite model, the experimental tests considered two main parameters: (i) simple and cyclic changes on moisture content (MC) and (ii) number and width of gaps. Regarding (i), three individual groups of test specimens were stabilized with 8%, 12% and 18% of moisture content and one group was submitted to a six month RH cycle (between 30% and 90% RH). Concerning (ii), different test configurations with 0 (REF), 1, 2 and 3 gaps, and widths equal to 0mm (GAP0) or 4mm (GAP4), were tested. The influences of MC and number of gaps were modeled by means of least square method. Moreover, a revision of a prediction model developed by Uibel and Blaß (2007) was proposed. The main findings of the experimental campaign were: the decrease of withdrawal resistance for specimens tested with MC=18% in most configurations; the unexpected increase of withdrawal resistance as the number of gaps with 0mm increased; and, the surprising increase of withdrawal resistance for REF specimens submitted to the RH cycle.The development of the present work was possible only thanks to the financial support of the 391 Portuguese Science Foundation (Fundação de Ciência e Tecnologia, FCT), through PhD grant SFRH / BD17392 / 79972 / 2011. Further, the valuable partnerships with the Institute of Timber Engineering and Wood393 Technology, at Graz University of Technology (Austria), and Rusticasa are gratefully acknowledged

Quantifying signal changes in nano-wire based biosensors

In this work, we present a computational methodology for predicting the change in signal (conductance sensitivity) of a nano-BioFET sensor (a sensor based on a biomolecule binding another biomolecule attached to a nano-wire field effect transistor) upon binding its target molecule. The methodology is a combination of the screening model of surface charge sensors in liquids developed by Brandbyge and co-workers [Sørensen et al., Appl. Phys. Lett., 2007, 91, 102105], with the PROPKA method for predicting the pH-dependent charge of proteins and protein-ligand complexes, developed by Jensen and co-workers [Li et al., Proteins: Struct., Funct., Bioinf., 2005, 61, 704-721, Bas et al., Proteins: Struct., Funct., Bioinf., 2008, 73, 765-783]. The predicted change in conductance sensitivity based on this methodology is compared to previously published data on nano-BioFET sensors obtained by other groups. In addition, the conductance sensitivity dependence from various parameters is explored for a standard wire, representative of a typical experimental setup. In general, the experimental data can be reproduced with sufficient accuracy to help interpret them. The method has the potential for even more quantitative predictions when key experimental parameters (such as the charge carrier density of the nano-wire or receptor density on the device surface) can be determined (and reported) more accurately. © 2011 The Royal Society of Chemistry

Stereotypic horses (Equus caballus) are not cognitively impaired

Stereotypies in animals are thought to arise from an interaction between genetic predisposition and sub-optimal housing conditions. In domestic horses, a well-studied stereotypy is crib-biting, an abnormal behaviour that appears to help individuals to cope with stressful situations. One prominent hypothesis states that animals affected by stereotypies are cognitively less flexible compared to healthy controls, due to sensitization of a specific brain area, the basal ganglia. The aim of this study was to test this hypothesis in crib-biting and healthy controls, using a cognitive task, reversal learning, which has been used as a diagnostic for basal ganglia dysfunction. The procedure consisted of exposing subjects to four learning tasks; first and second acquisition, and their reversals. For each task, we measured the number of trials to reach criterion and heart rate and heart-rate variability. Importantly, we did not try to prevent crib-biters from executing their stereotypic behaviour. We found that the first reversal learning task required the largest number of trials, confirming its challenging nature. Interestingly, the second reversal learning task required significantly fewer trials to reach criterion, suggesting generalisation learning. However, we did not find any performance differences across groups; both stereotypic and control animals required a similar numbers of trials and did not differ in their physiological responses. Our results thus challenge the widely held belief that crib-biting horses, and stereotypic animals more generally, are cognitively impaired. We conclude that cognitive underperformance may occur in stereotypic horses if they are prevented from crib-biting to cope with experienced stress.PostprintPeer reviewe

Quantum Energy-Transport and Drift-Diffusion Models

We show that Quantum Energy-Transport and Quantum Drift-Diffusion models can be derived through diffusion limits of a collisional Wigner equation. The collision operator relaxes to an equilibrium defined through the entropy minimization principle. Both models are shown to be entropic and exhibit fluxes which are related with the state variables through spatially non-local relations. Thanks to an � expansion of these models, � 2 perturbations of the Classical Energy-Transport and Drift-Diffusion models are found. In the Drift-Diffusion case, the quantum correction is the Bohm potential and the model is still entropic. In the Energy-Transport case however, the quantum correction is a rather complex expression and the model cannot be proven entropic.

Effective magnetic properties of a composite material with circular conductive elements

Effective magnetic properties of a composite meta-material consisting of periodically arranged circular conductive elements are studied theoretically. A general expression for the effective bulk permeability is obtained with mutual effects and lattice ordering being taken into account. The resonance frequency of the permeability is found to be strongly dependent on the size and shape of the unit cell. Frequency dispersion of the permeability is studied with special attention paid to the frequency range, where negative values of the permeability are possible. Corresponding recommendations for optimisation of the meta-materials with negative permeability are made. The results are confirmed by numerical simulations of the finite structure behaviour in an external magnetic field