The management of de-cumulation risks in a defined contribution environment

The aim of the paper is to lay the theoretical foundations for the construction of a flexible tool that can be used by pensioners to find optimal investment and consumption choices in the distribution phase of a defined contribution pension scheme. The investment/consumption plan is adopted until the time of compulsory annuitization, taking into account the possibility of earlier death. The effect of the bequest motive and the desire to buy a higher annuity than the one purchasable at retirement are included in the objective function. The mathematical tools provided by dynamic programming techniques are applied to find closed form solutions: numer-ical examples are also presented. In the model, the trade-off between the different desires of the individual regarding consumption and final annuity can be dealt with by choosing appropriate weights for these factors in the setting of the problem. Conclusions are twofold. Firstly, we find that there is a natural time-varying target for the size of the fund, which acts as a sort of safety level for the needs of the pensioner. Secondly, the personal preferences of the pensioner can be translated into optimal choices, which in turn affect the distribution of the consumption path and of the final annuity

Reducing the number of miscreant tasks executions in a multi-use cluster.

Exploiting computational resources within an organisation for more than their primary task offers great benefits – making better use of capital expenditure and provides a pool of computational power. This can be achieved through the deployment of a cycle stealing distributed system, where tasks execute during the idle time on computers. However, if a task has not completed when a computer returns to its primary function the task will be preempted, wasting time (and energy), and is often reallocated to a new resource in an attempt to complete. This becomes exacerbated when tasks are incapable of completing due to excessive execution time or faulty hardware / software, leading to a situation where tasks are perpetually reallocated between computers – wasting time and energy. In this work we investigate techniques to increase the chance of ‘good’ tasks completing whilst curtailing the execution of ‘bad’ tasks. We demonstrate, through simulation, that we could have reduce the energy consumption of our cycle stealing system by approximately 50%

Two complete syntheses of (S)-aspartate semi-aldehyde and demonstration that Delta(2)-tetrahydroisophthalic acid is a non-competitive inhibitor of dihydrodipicolinate synthase

The document attached has been archived with permission from the publisher.We report, in full, two 3-step syntheses of (S)-aspartate semi-aldehyde, an important synthetic and biosynthetic precursor, from diprotected aspartic acid. The first synthesis proceeds via a thioester, the second via a Weinreb amide. Each route yields pure (S)-aspartate semi-aldehyde in excellent yield. The utility of (S)-aspartate semi-aldehyde prepared in this manner was demonstrated with an inhibition study of dihydrodipicolinate synthase, wherein Δ2- tetrahydroisophthalic acid is shown to be a non-competitive inhibitor with respect to both substrates.Sarah J. Roberts, Jonathan C. Morris, Renwick C.J. Dobson, Chris L. Baxter, and Juliet A. Gerrar

Optimal investment choices post-retirement in a defined contribution pension scheme

In defined contribution pension schemes, the financial risk is borne by the member. Financial risk occurs both during the accumulation phase (investment risk) and at retirement, when the annuity is bought (annuity risk). The annuity risk faced by the member can be reduced through the “income drawdown option”: the retiree is allowed to choose when to convert the final capital into pension within a certain period of time after retirement. In some countries, there is a limiting age when annuitization becomes compulsory (in UK this age is 75). In the interim, the member can withdraw periodic amounts of money to provide for daily life, within certain limits imposed by the scheme’s rules (or by law). In this paper, we investigate the income drawdown option and define a stochastic optimal control problem, looking for optimal investment strategies to be adopted after retirement, when allowing for periodic fixed withdrawals from the fund. The risk attitude of the member is also considered, by changing a parameter in the disutility function chosen. We find that there is a natural target level of the fund, interpretable as a safety level, which can never be exceeded when optimal control is used. Numerical examples are presented in order to analyse various indices — relevant to the pensioner — when the optimal investment allocation is adopted. These indices include, for example, the risk of outliving the assets before annuitization occurs (risk of ruin), the average time of ruin, the probability of reaching a certain pension target (that is greater than or equal to the pension that the member could buy immediately on retirement), the final outcome that can be reached (distribution of annuity that can be bought at limit age), and how the risk attitude of the member affects the key performance measures mentioned above

Ideal kink instability of a magnetic loop equilibrium

The force-free coronal loop model by Titov & D\'emoulin (1999} is found to be unstable with respect to the ideal kink mode, which suggests this instability as a mechanism for the initiation of flares. The long-wavelength ($m=1$) mode grows for average twists \Phi\ga3.5\pi (at a loop aspect ratio of $\approx$ 5). The threshold of instability increases with increasing major loop radius, primarily because the aspect ratio then also increases. Numerically obtained equilibria at subcritical twist are very close to the approximate analytical equilibrium; they do not show indications of sigmoidal shape. The growth of kink perturbations is eventually slowed down by the surrounding potential field, which varies only slowly with radius in the model. With this field a global eruption is not obtained in the ideal MHD limit. Kink perturbations with a rising loop apex lead to the formation of a vertical current sheet below the apex, which does not occur in the cylindrical approximation.Comment: Astron. Astrophys. Lett., accepte

Development of low-cost multi-wavelength imager system for studies of aurora and airglow

This paper introduces a new system that can monitor aurora and atmospheric airglow using a low-cost Watec monochromatic imager (WMI) equipped with a sensitive camera, a filter with high transmittance, and the non-telecentric optics. The WMI system with 486-nm, 558-nm, and 630-nm band-pass filters has observable luminosity of about ~200–4000 Rayleigh for 1.07-sec exposure time and about ~40–1200 Rayleigh for 4.27-sec exposure time, for example. It is demonstrated that the WMI system is capable of detecting 428-nm auroral intensities properly, through comparison with those measured with a collocated electron-multiplying charge-coupled device (EMCCD) imager system with narrower band-pass filter. The WMI system has two distinct advantages over the existing system: One makes it possible to reduce overall costs, and the other is that it enables the continuous observation even under twilight and moonlight conditions. Since 2013 a set of multi-wavelength WMIs has been operating in northern Scandinavia, Svalbard, and Antarctica to study meso- and large-scale aurora and airglow phenomena. Future development of the low-cost WMI system is expected to provide a great opportunity for constructing a global network for multi-wavelength aurora and airglow monitoring

Transverse Shifts in Paraxial Spinoptics

The paraxial approximation of a classical spinning photon is shown to yield an "exotic particle" in the plane transverse to the propagation. The previously proposed and observed position shift between media with different refractive indices is modified when the interface is curved, and there also appears a novel, momentum [direction] shift. The laws of thin lenses are modified accordingly.Comment: 3 pages, no figures. One detail clarified, some misprints corrected and references adde

A pilot study of respiratory muscle training to improve cough effectiveness and reduce the incidence of pneumonia in acute stroke: study protocol for a randomized controlled trial

BACKGROUND: After stroke, pneumonia is a relevant medical complication that can be precipitated by aspiration of saliva, liquids, or solid food. Swallowing difficulty and aspiration occur in a significant proportion of stroke survivors. Cough, an important mechanism protecting the lungs from inhaled materials, can be impaired in stroke survivors, and the likely cause for this impairment is central weakness of the respiratory musculature. Thus, respiratory muscle training in acute stroke may be useful in the recovery of respiratory muscle and cough function, and may thereby reduce the risk of pneumonia. The present study is a pilot study, aimed at investigating the validity and feasibility of this approach by exploring effect size, safety, and patient acceptability of the intervention. METHODS/DESIGN: Adults with moderate to severe stroke impairment (National Institutes of Health Stroke Scale (NIHSS) score 5 to 25 at the time of admission) are recruited within 2 weeks of stroke onset. Participants must be able to perform voluntary respiratory maneuvers. Excluded are patients with increased intracranial pressure, uncontrolled hypertension, neuromuscular conditions other than stroke, medical history of asthma or chronic obstructive pulmonary disease, and recent cardiac events. Participants are randomized to receive inspiratory, expiratory, or sham respiratory training over a 4-week period, by using commercially available threshold resistance devices. Participants and caregivers, but not study investigators, are blind to treatment allocation. All participants receive medical care and stroke rehabilitation according to the usual standard of care. The following assessments are conducted at baseline, 4 weeks, and 12 weeks: Voluntary and reflex cough flow measurements, forced spirometry, respiratory muscle strength tests, incidence of pneumonia, assessments of safety parameters, and self-reported activity of daily living. The primary outcome is peak expiratory cough flow of voluntary cough, a parameter indicating the effectiveness of cough. Secondary outcomes are incidence of pneumonia, peak expiratory cough flow of reflex cough, and maximum inspiratory and expiratory mouth pressures. DISCUSSION: Various novel pharmacologic and nonpharmacologic approaches for preventing stroke-associated pneumonia are currently being researched. This study investigates a novel strategy based on an exercise intervention for cough rehabilitation. TRIAL REGISTRATION: Current Controlled Trials ISRCTN40298220