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

Evolution of the distribution of wealth in an economic environment driven by local Nash equilibria

International audienceWe present and analyze a model for the evolution of the wealth distribution within a heterogeneous economic environment. The model considers a system of rational agents interacting in a game theoretical framework, through fairly general assumptions on the cost function. This evolution drives the dynamic of the agents in both wealth and economic configuration variables. We consider a regime of scale separation where the large scale dynamics is given by a hydrodynamic closure with a Nash equilibrium serving as the local thermodynamic equilibrium. The result is a system of gas dynamics-type equations for the density and average wealth of the agents on large scales. We recover the inverse gamma distribution as an equilibrium in the particular case of quadratic cost functions which has been previously considered in the literature

"In diesem großen Traurigsein, das Leben heißt"

Die vorliegende Arbeit versucht zu zeigen, dass sowohl das Leben wie auch das Werk von Anton Wildgans in besonderem Maß von Widersprüchen geprägt ist. Dazu wird in einem vorangestellten biografischen Kurzabriss auf Ereignisse hingewiesen, die für die Entwicklung des Dichters im Hinblick auf das Thema der Arbeit bedeutsam erscheinen. Der Hauptteil bereitet das Thema in zwei Blöcken auf: anhand der veröffentlichten Briefbände, der in Buchform herausgegebenen Lebenserinnerungen seiner Gattin sowie autobiografischer Schriften wird im ersten Block gezeigt, wie widersprüchlich grundsätzlicher Lebensentwurf und praktische Lebensführung ausfielen. Ein eigener Unterabschnitt ist dabei der zweimaligen Direktionsführung am Wiener Burgtheater sowie den während des ersten Weltkrieges entstandenen Kriegsgedichten gewidmet. Der zweite Abschnitt zeigt anhand ausgewählter Beispiele aus dem lyrischen, epischen und dramatischen Schaffen des Dichters, dass auch Thema und Figuren seiner Werke von dem den Autor charakterisierenden Widerspruch geprägt sind. Beeinflussungen durch Vorbilder literarischer und philosophischer Strömungen werden besonders in den Jugendwerken, aber auch in späteren Schaffensperioden ersichtlich. Die Arbeit versucht in einem kurzen Unterkapitel das Frauenbild, das in den Werken Anton Wildgans auf den Leser kommt, in seinen Zeitbezügen zu erklären. Fotos von Gedenkstätten, Büsten, dem Arbeitszimmer des Dichters in Mödling sowie von dem hochgelegenen Ort Mönichkirchen, in dem der Dichter über einen Zeitraum von zwanzig Jahren die meisten seiner Werke schuf, sollen helfen, einen Eindruck vom Leben des Dichters zu erhalten. Im Anhang bringt die Arbeit Gedichte, auf die im Text verwiesen wurde, sowie eine Auflistung der Gedichttitel in chronologischer Reihung

Crafting project managers’ careers:Integrating the fields of careers and project management

Project managers experience unique careers that are not yet sufficiently understood, and more people than ever before are pursuing such careers. The research on project management and careers is therefore urgently needed in order to better understand the processes and systems shaping the careers of project managers. We address this gap by reviewing several key career theories and constructs and examining how these are mobilized to understand project managers’ careers in existing research. Our main conclusion is that boundaryless career theory has been the dominant career perspective in project management research, whereas other career theories—specifically protean career theory, social cognitive career theory, career construction theory, and sustainable career theory—are far less often mobilized as a basis for studies. We also find that some of the most popular constructs in careers research, such as career success and employability, have been used in recent project management research. However, their use in these studies is often implicit and does not necessarily leverage existing work from the careers field. We argue that there is strong potential for further and more systematic integration between project management and careers research in order to enrich both fields, and we offer a research agenda as a starting point

Экспериментальное исследование процессов зажигания плёнок жидких топлив локальным источником энергии.

Объект исследования – Мазут марки М-100 и зимнее дизельное топливо ДТ-З-К3-38. Источником нагрева в экспериментах являлась монолитная стальная частица в форме диска характерного размера диаметром (dp =6х10-3 м) и высотой (hp=3х10-3 м). Цель работы – экспериментальное исследование условий и характеристик зажигания при нагреве изменяющихся толщин пленок жидких топлив, а именно дизельного топлива и мазута М-100, металлическими локальными источниками характерных размеров. Личный вклад автора состоит в том, что была составлена методика проведения экспериментальных исследований, а также были проведены серии экспериментальных опытов с последующей обработкой экспериментальных данных и их обобщением. Проведены экспериментальные исследования по зажиганию пленок жидких топлив локальным источником энергии. Проведен анализ влияния толщины пленки и начальной температуры одиночной нагретой частицы. Область применения полученных экспериментальных данных возможна в создании фундаментальной теории зажигания локальными источниками энергии.The object of study – Mazut M-100 and diesel fuel DT-Z-K3-38. The source of heating in the experiments was a monolithic steel particle in the shape of a disk of typical size with a diameter (dp =6 × 10-3 m) and a height (hp=3x10-3 m). The aim of this work is the experimental study of the conditions and characteristics of ignition when heated, the changing of the thickness of films of liquid fuels, namely diesel fuel and fuel oil M-100, metal by local sources of characteristic sizes. Personal contribution of the author consists in the fact that was compiled by technique for experimental studies, and also conducted a series of pilot experiments with subsequent processing of the experimental data and their generalization. Experimental studies on the ignition films liquid fuels local energy source. The analysis of influence of film thickness and initial temperature of individual heated particles. The scope of experimental data is possible in the creation of fundamental theory of ignition by a local energy sources

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 Bicycle and the Arctic Resilient and Sustainable Transport in Times of Climate Change

In Alaska, alternative transport modes to cars and other motorized, petrol powered vehicles are gaining in importance due to increasing urbanization and as adaptive responses to risks of infrastructural damage to transportation networks in facing the climate change. Bicycling functions as a transportation practice in response to increasing infrastructure disruptions, offering a strategy towards sustainable and resilient means of transportation in the times of global climate change and its associated challenges. Changing weather conditions and demographic changes lead to the necessity to establish more adapted infrastructures. The use of the bicycle hereby offers a suitable mode of transport in Arctic and Subarctic areas. New technologies such as fat bikes make bicycling throughout the winter season possible. The combination of the theoretical concepts of sustainability and resilience bears the potential to foster concrete solutions and action strategies for policy makers with respect to infrastructural challenges in the Arctic. Document type: Part of book or chapter of boo