OPTIMAL RISK MANAGEMENT, RISK AVERSION, AND PRODUCTION FUNCTION PROPERTIES

For production risk with identified physical causes, the nature of risk, production characteristics, risk preference, and prices determine optimal input use. Here, a two-way classification for pairs of inputs – each input as being risk increasing or decreasing and pairs as being risk substitutes or complements – provides sufficient conditions to determine how risk aversion should affect input use. Unlike the Sandmo price risk averse firm may produce more expected output and use more inputs than a risk neutral firm. Sufficient conditions to determine types for pairs of inputs are also related to properties of the production function.Production Economics, Risk and Uncertainty,

Some studies on a solid state sulfur probe for coal gasification systems

Measurements on the solid electrolyte cell (Ar + H(2) + H(2)S/CaS + CaF(2) + (Pt)//CaF(2)//(Pt) + CaF(2) + CaS/H(2) + H(2)+Ar) show that the emf of the cell is directly related to the difference in sulfur potentials established at the Ar + H(2) + H(2)S/electrode interfaces. The electrodes convert the sulfur potential gradient across the calcium fluoride electrolyte into an equivalent fluorine potential gradient. Response time of the probe varies from approximately 9 hr at 990 K to 2.5 hr at 1225 K. The conversion of calcium sulfide and/or calcium fluoride into calcium oxide is not a problem anticipated in commercial coal gasification systems. Suggestions are presented for improving the cell for such commercial applications

Corrosion of 310 stainless steel in H2-H2O-H2S gas mixtures: Studies at constant temperature and fixed oxygen potential

Corrosion of SAE 310 stainless steel in H2-H2O-H2S gas mixtures was studied at a constant temperature of 1150 K. Reactive gas mixtures were chosen to yield a constant oxygen potential of approximately 6 x 10 to the minus 13th power/cu Nm and sulfur potentials ranging from 0.19 x 10 to the minus 2nd power/cu Nm to 33 x 10 to the minus 2nd power/cu Nm. The kinetics of corrosion were determined using a thermobalance, and the scales were analyzed using metallography, scanning electron microscopy, and energy dispersive X-ray analysis. Two corrosion regimes, which were dependent on sulfur potential, were identified. At high sulfur potentials (p sub S sub 2 less than or equal to 2.7 x 10 to the minus 2nd power/cu Nm) the corrosion rates were high, the kinetics obeyed a linear rate equation, and the scales consisted mainly of sulfide phases similar to those observed from pure sulfication. At low sulfur potentials (P sub S sub 2 less than or equal to 0.19 x 10 to the minus 2nd power/cu Nm) the corrosion rates were low, the kinetics obeyed a parabolic rate equation, and scales consisted mainly of oxide phases

Application of Remote Sensing Techniques for Appraising Changes in Wildlife Habitat

An attempt was made to investigate the potential of airborne, multispectral, line scanner data acquisition and computer-implemented automatic recognition techniques for providing useful information about waterfowl breeding habitat in North Dakota. The spectral characteristics of the components of a landscape containing waterfowl habitat can be detected with airborne scanners. By analyzing these spectral characteristics it is possible to identify and map the landscape components through analog and digital processing methods. At the present stage of development multispectral remote sensing techniques are not ready for operational application to surveys of migratory bird habitat and other such resources. Further developments are needed to: (1) increase accuracy; (2) decrease retrieval and processing time; and (3) reduce costs

Two-dimensional viscous flow computations of hypersonic scramjet nozzle flowfields at design and off-design conditions

The PARC2D code has been selected to analyze the flowfields of a representative hypersonic scramjet nozzle over a range of flight conditions from Mach 3 to 20. The flowfields, wall pressures, wall skin friction values, heat transfer values and overall nozzle performance are presented

Stability of chromium (III) sulfate in atmospheres containing oxygen and sulfur

The stability of chromium sulfate in the temperature range from 880 K to 1040 K was determined by employing a dynamic gas-solid equilibration technique. The solid chromium sulfate was equilibrated in a gas stream of controlled SO3 potential. Thermogravimetric and differential thermal analyses were used to follow the decomposition of chromium sulfate. X-ray diffraction analysis indicated that the decomposition product was crystalline Cr2O3 and that the mutual solubility between Cr2(SO4)3 and Cr2O3 was negligible. Over the temperature range investigated, the decomposition pressure were significantly high so that chromium sulfate is not expected to form on commercial alloys containing chromium when exposed to gaseous environments containing oxygen and sulfur (such as those encountered in coal gasification)

Phase relations in the Fe-Ni-Cr-S system and the sulfidation of an austenitic stainless steel

The stability fields of various sulfide phases that form on Fe-Cr, Fe-Ni, Ni-Cr and Fe-Cr-Ni alloys were developed as a function of temperature and the partial pressure of sulfur. The calculated stability fields in the ternary system were displayed on plots of log P sub S sub 2 versus the conjugate extensive variable which provides a better framework for following the sulfidation of Fe-Cr-Ni alloys at high temperatures. Experimental and estimated thermodynamic data were used in developing the sulfur potential diagrams. Current models and correlations were employed to estimate the unknown thermodynamic behavior of solid solutions of sulfides and to supplement the incomplete phase diagram data of geophysical literature. These constructed stability field diagrams were in excellent agreement with the sulfide phases and compositions determined during a sulfidation experiment

Localization transitions in non-Hermitian quantum mechanics

We study the localization transitions which arise in both one and two dimensions when quantum mechanical particles described by a random Schr\"odinger equation are subjected to a constant imaginary vector potential. A path-integral formulation relates the transition to flux lines depinned from columnar defects by a transverse magnetic field in superconductors. The theory predicts that the transverse Meissner effect is accompanied by stretched exponential relaxation of the field into the bulk and a diverging penetration depth at the transition.Comment: 4 pages (latex) with 3 figures (epsf) embedded in the text using the style file epsf.st