A dynamic programming approach for evaluating a portfolio of R&D projects with a budget

The Real Options approach has proved to be a suitable methodology for capturing the flexibility in the investment decision process. This is very useful for the financial evaluation of R&D projects where there are several possible decisions concerning to the investment – delaying, improving or abandoning. Since the risk of an R&D project is usually due to singular characteristics of the project and is uncorrelated with the financial markets, the contingent claims analysis may be not adequate to value R&D projects. Based on a dynamic programming evaluation model, presented in Huchzermeier and Loch [1], we propose an approach to valuing a portfolio of R&D projects with a budget. Specifically, considering a budget constraint, we make an extension of the model mentioned above for assessing the projects in the portfolio simultaneously. To test the proposed evaluation procedure, we generated several R&D portfolios with different dimensions and characteristics. According to our computational experience, the main conclusions are presented

Real and complex variable positive definite functions

nuloIn this paper we present an overview of the implications of our previously derived results for positive definite kernels on the general theory of positive definite functions. We begin by exploring the consequences of a set of differential inequalities on the global behaviour of a smooth positive definite function of one real variable. Then we propose a natural extension of this study to the complex variable case and derive consequences of positive definiteness for meromorphic functions

Supergiant Barocaloric Effects in Acetoxy Silicone Rubber over a Wide Temperature Range: Great Potential for Solid-state Cooling

Solid-state cooling based on caloric effects is considered a viable alternative to replace the conventional vapor-compression refrigeration systems. Regarding barocaloric materials, recent results show that elastomers are promising candidates for cooling applications around room-temperature. In the present paper, we report supergiant barocaloric effects observed in acetoxy silicone rubber - a very popular, low-cost and environmentally friendly elastomer. Huge values of adiabatic temperature change and reversible isothermal entropy change were obtained upon moderate applied pressures and relatively low strains. These huge barocaloric changes are associated both to the polymer chains rearrangements induced by confined compression and to the first-order structural transition. The results are comparable to the best barocaloric materials reported so far, opening encouraging prospects for the application of elastomers in near future solid-state cooling devices.Comment: 19 pages, 7 figures, 2 table

Photogrammetry for digital reconstruction of railway ballast particles – a cost-efficient method

Ballast aggregate is a natural material widely used in railway lines. Its mechanical properties and particle geometry are meticulously defined using well-established standards and characterisation procedures. Though extensively validated, these procedures have some limitations: they are operator dependent; only provide major particle dimensions; do not inform on surface colour; nor allow for advanced particle wear analysis or particle-based simulations. This work presents a cost-efficient photogrammetry method for 3D reconstruction of ballast particles, as an alternative to the significantly expensive laser scanning. It produces digital models of equivalent or higher quality, allowing for advanced and automated particle geometry analyses. Particle meshes produced here are shared among researchers.info:eu-repo/semantics/acceptedVersio

Molecular structure and charge density analysis of p-methoxybenzoic acid (anisic acid)

A concerted X-ray and ab initio SCF-MO study of the structure and charge density of p-methoxybenzoic acid (anisic acid) is reported. An extensive X-ray data set (7401 reflections) was measured on a single crystal using Mo Kα radiation and the structure refined with 2121 unique reflections, leading to a final R(F)-factor of 0.047 calculated for reflections with I>2σ. The molecular geometry of crystalline anisic acid, where the molecules dimerize via a moderately strong CO–H⋯O hydrogen bond, is compared with that of the isolated molecule, resulting from SCF-MO ab initio calculations. A topological analysis of the molecular charge density was performed using Bader's method to gain insight into the dominant intra- and intermolecular interactions in this compound. In particular, the effects of the substituents on the observed distortions of the benzene ring were investigated as well as the internal rotation of the methyl group

Avaliação da Estereopsia em Crianças sob Terapêutica Oclusiva por Ambliopia e Relação desta com a Acuidade Visual

Introdução: A ambliopia é a principal causa de diminuição da acuidade visual em crianças. O diagnóstico e tratamento precoces são fundamentais para o sucesso terapêutico. A oclusão continua a ser o tratamento mais utilizado nesta patologia. Objectivos: Este estudo teve como objectivo a avaliação da estereopsia em crianças com ambliopia sob terapêutica oclusiva e a sua relação com a acuidade visual. Material e Métodos: Estudo prospectivo que incluiu 35 crianças com ambliopia, por anisometropia, estrabismo ou ambos, a fazer terapêutica oclusiva. Em cada consulta foi avaliada a melhor acuidade visual corrigida (MAVC) e a estereopsia para perto. Resultados: A idade média no início do estudo era de 6,17 anos (intervalo 3-9 anos) e o seguimento médio foi de 17 meses (intervalo 6-24 meses). Após tratamento com oclusão houve uma melhoria da MAVC média de 0,5 para 0,84 (p<0,001) e da estereopsia para perto de 1148 para 415 segundos de arco (p<0,001). Observou-se uma correlação linear significativa entre a melhoria da AV e da estereopsia (0,001<p<0,01). Conclusão: Podemos dizer que, em crianças com ambliopia, após tratamento com oclusão, a melhoria da acuidade visual está relacionada com uma melhoria da estereopsia

Numerical validation of Ehrenfest theorem in a Bohmian perspective for non-conservative systems

In this work we make a high precision numerical study of the Ehrenfest theorem using the Bohmian approach, where we obtain classical solutions from the quantum trajectories performing the Bohmian averages. We analyse the one-dimensional quantum harmonic and Duffing oscillator cases, finding numerical solutions of the time-dependent Schr\"odinger equation and the guidance equation for different sets of initial conditions and connects these results with the corresponding classical solutions. We also investigate the effect of introducing external forces of three types: a simple constant force, a fast-acting Gaussian impulse, and an oscillatory force with different frequencies. In the last case the resonance in the quantum trajectories was observed.Comment: 13 pages and 11 figure

Magnetostructural correlations in BiFeO3-based multiferroics

This work was supported by funds from FEDER (Programa Operacional Factores de Competitividade COMPETE) and from FCT-Fundaça˜o para a Cieˆncia e a Tecnologia under the project UID/FIS/04564/2016. V. A. K. is grateful to Fundaça˜o para a Cieˆncia e a Tecnologia for financial support through the FCT Investigator Programme (project IF/00819/2014). D. V. K. is grateful to BRFFR (grant F16R-066). Access to the TAIL-UC facility funded under QREN-Mais Centro project ICT_2009_02_012_1890 is gratefully acknowledged