Productivity of Nanobiotechnology Research and Education in U.S. Universities

The National Science Foundation (NSF) estimates that nanotechnology will become a trillion-dollar industry by 2015 and that 800,000 workers will be needed in this field in the United States. Nanobiotechnology ― the interface of nanotechnology and the life sciences ― is one of the most active and promising application frontiers in nanotechnology. To assess the productivity of basic and applied research and education in this field, I construct a structural model composed of a system of three equations which respectively represent the productions of a university’s scientific publications, patents, and graduate training outputs. The model is estimated using a unique data set on thirty universities that participated in nanobiotechnology during the 1990-2005 period. Ten of them are private universities, ten are public land-grant universities, and ten are public non-land-grant universities. Universities indeed serve as a principal seedbed for future development of the cutting-edge nanobiotechnology. NSF investment in nanobiotechnology strongly affects the university’s basic science research and graduate education. The university’s research expenditures in life sciences, engineering, and physical sciences contribute to its nanobiotechnology fields. Importantly, there is no evidence that science and graduate training compete strongly with one another. Rather, basic science research and graduate education serve as strong complements to one another, while basic science and applied research, and applied research and graduate education serve as weak complements. On average, public non-land-grant universities are more efficient in applied research. Such characteristics of universities, however, do not significantly affect the universities’ efficiencies in basic research and graduate education in nanobiotechnology. Presence of a nanotechnology research center on campus enhances the university’s basic science research and a formal nanotechnology education program promotes the university’s graduate education.nanotechnology, graduate education, university research, productivity, Productivity Analysis, Research and Development/Tech Change/Emerging Technologies,

UNIVERSITY BASIC RESEARCH AND APPLIED AGRICULTURAL BIOTECHNOLOGY

I examine the effects of R&D inputs on the subset of life-science outputs which demonstrably has influenced later technology, as evidenced by literature citations in agricultural biotechnology patents. Universities are found to be a principal seedbed for cutting-edge technology development. A university's life-science research budget strongly affects its technology-relevant life-science output as well as graduate education.Research and Development/Tech Change/Emerging Technologies,

Building and investigating generators' bidding strategies in an electricity market

In a deregulated electricity market environment, Generation Companies (GENCOs) compete with each other in the market through spot energy trading, bilateral contracts and other financial instruments. For a GENCO, risk management is among the most important tasks. At the same time, how to maximise its profit in the electricity market is the primary objective of its operations and strategic planning. Therefore, to achieve the best risk-return trade-off, a GENCO needs to determine how to allocate its assets. This problem is also called portfolio optimization. This dissertation presents advanced techniques for generator strategic bidding, portfolio optimization, risk assessment, and a framework for system adequacy optimisation and control in an electricity market environment. Most of the generator bidding related problems can be regarded as complex optimisation problems. In this dissertation, detailed discussions of optimisation methods are given and a number of approaches are proposed based on heuristic global optimisation algorithms for optimisation purposes. The increased level of uncertainty in an electricity market can result in higher risk for market participants, especially GENCOs, and contribute significantly to the drivers for appropriate bidding and risk management tasks for GENCOs in the market. Accordingly, how to build an optimal bidding strategy considering market uncertainty is a fundamental task for GENCOs. A framework of optimal bidding strategy is developed out of this research. To further enhance the effectiveness of the optimal bidding framework; a Support Vector Machine (SVM) based method is developed to handle the incomplete information of other generators in the market, and therefore form a reliable basis for a particular GENCO to build an optimal bidding strategy. A portfolio optimisation model is proposed to maximise the return and minimise the risk of a GENCO by optimally allocating the GENCO's assets among different markets, namely spot market and financial market. A new market pnce forecasting framework is given In this dissertation as an indispensable part of the overall research topic. It further enhances the bidding and portfolio selection methods by providing more reliable market price information and therefore concludes a rather comprehensive package for GENCO risk management in a market environment. A detailed risk assessment method is presented to further the price modelling work and cover the associated risk management practices in an electricity market. In addition to the issues stemmed from the individual GENCO, issues from an electricity market should also be considered in order to draw a whole picture of a GENCO's risk management. In summary, the contributions of this thesis include: 1) a framework of GENCO strategic bidding considering market uncertainty and incomplete information from rivals; 2) a portfolio optimisation model achieving best risk-return trade-off; 3) a FIA based MCP forecasting method; and 4) a risk assessment method and portfolio evaluation framework quantifying market risk exposure; through out the research, real market data and structure from the Australian NEM are used to validate the methods. This research has led to a number of publications in book chapters, journals and refereed conference proceedings