Optimal life insurance purchase, consumption and investment on a financial market with multi-dimensional diffusive terms

We introduce an extension to Merton’s famous continuous time model of optimal consumption and investment, in the spirit of previous works by Pliska and Ye, to allow for a wage earner to have a random lifetime and to use a portion of the income to purchase life insurance in order to provide for his estate, while investing his savings in a financial market comprised of one risk-free security and an arbitrary number of risky securities driven by multidimensional Brownian motion. We then provide a detailed analysis of the optimal consumption, investment, and insurance purchase strategies for the wage earner whose goal is to maximize the expected utility obtained from his family consumption, from the size of the estate in the event of premature death, and from the size of the estate at the time of retirement. We use dynamic programming methods to obtain explicit solutions for the case of discounted constant relative risk aversion utility functions and describe new analytical results which are presented together with the corresponding economic interpretations.We thank the Calouste Gulbenkian Foundation, PRODYN-ESF, POCTI and POSI by FCT and Ministerio da Ciencia, Tecnologia e Ensino Superior, CEMAPRE, LIAAD-INESC Porto LA, Centro de Matematica da Universidade do Minho and Centro de Matematica da Universidade do Porto for their financial support. D. Pinheiro's research was supported by FCT - Fundacao para a Ciencia e Tecnologia program 'Ciencia 2007' and project 'Randomness in Deterministic Dynamical Systems and Applications' (PTDC/MAT/105448/2008). I. Duarte's research was supported by FCT - Fundacao para a Ciencia e Tecnologia grant with reference SFRH/BD/33502/2008

Composição química e atividade antimicrobiana do óleo essencial de folhas e flores de Aloysia gratissima

Volatile oils from leaves and flowers of Aloysia gratissima were investigated for their chemical composition and antimicrobial activity against the bacteria Bacilus subtilis, Staphylococcus aureus, Salmonella choleraesuis, Pseudomonas aeruginosa, Streptococcus pneumoniae and the Candida albicans yeast. The minimum inhibitory concentrations (MIC) of the oils were determined by the micro-dilution method, while the chemical composition was determined by GC-MS (gas chromatography mass spectrometry). The fresh leaves and inflorescence were subjected to hydrodistillation for 120 min using a Clevenger-type apparatus, and the essential oil was tested against microorganisms. High concentrations of sesquiterpenes were observed for the inflorescence, and monoterpenes were observed for the leaves. The main compounds of the inflorescence essential oil were E-caryophyllene, germacrene B, guaiol and bulnesol, while in the leaves the main compounds were trans-pinocamphone, trans-pinocarveyl acetate, and guaiol. The essential oil from the leaves showed an effect against P. aeruginosa and S. pneumonia, and the essential oil of the inflorescence showed an effect against P. aeruginosa, S. pneumonia, and Candida albicans.O óleo essencial de folhas e de flores de Aloysia gratissima foi avaliado quanto à composição química e ação antimicrobiana contra as bactérias Bacilus subtilis, Staphylococcus aureus, Salmonella choleraesuis, Pseudomonas aeruginosa, Streptococcus pneumoniae, e a levedura Candida albicans. A concentração mínima inibitória (MIC) dos óleos essenciais foi determinada pelo método da microdiluição e a composição química determinada por CG-EM (Cromatografia Gasosa acoplada a Espectrômetro de Massas). Folhas e inflorescências frescas foram hidrodestiladas por 120 minutos em aparelho Clevenger sendo o óleo essencial testado contra microorganismos. Para as flores foi observada maior concentração de sesquiterpenos, enquanto que as folhas apresentaram maior concentração de monoterpenos. Os principais constituintes do óleo essencial da flor foram: E-cariofileno, germacreno B, guaiol e bulnesol; e das folhas foram: trans-pinocamfona, acetato de trans-pinocarveol e guaiol. O óleo essencial da folha mostrou atividade contra P. aeruginosa e S. pneumoniae, e o óleo essencial da flor mostrou atividade contra P. aeruginosa, S. pneumoniae e Candida albicans.583588Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES

The Effect of a Linear Tuning between the Antigenic Stimulations of CD4(+) T Cells and CD4(+) Tregs

We study the equilibria of an Ordinary Differencial Equation (ODE) system where CD4+ effector or helper T cells and Regulatory T cells (Tregs) are present. T cells trigger an immune response in the presence of their specific antigen. Regulatory T cells (Tregs) play a role in limiting auto-immune diseases due to their immune-suppressive ability. Here, we present explicit exact formulas that give the relationship between the concentration of T cells, the concentration of Tregs, and the antigenic stimulation of T cells, when the system is at equilibria, stable or unstable. We found a parameter region of bistability, limited by two thresholds of antigenic stimulation of T cells (hysteresis). Moreover, there are values of the slope parameter of the tuning for which an isola-center bifurcation appears, and, for some other values, there is a transcritical bifurcation. We also present time evolutions of the ODE system

Zeta function method and repulsive Casimir forces for an unusual pair of plates at finite temperature

We apply the generalized zeta function method to compute the Casimir energy and pressure between an unusual pair of parallel plates at finite temperature, namely: a perfectly conducting plate and an infinitely permeable one. The high and low temperature limits of these quantities are discussed; relationships between high and low temperature limits are estabkished by means of a modified version of the temperature inversion symmetry.Comment: latex file 9 pages, 3 figure

Inmunidad contra fiebre aftosa, reactores al antígeno VIA y portadores en búfalos indues.

Se analizó la actividad del virus de la fiebre aftosa en el búfalo Indú (Bubalus bubalis) en convivencia con bovinos de explotación lechera en el estado de Sao Paulo (Brasil). Se determinó niveles de anticuerpos neutralizantes contra los virus A24 Cruzeiro, Avenceslau, O1 Campos y C3 Resende, reactores al antígeno VIA y portadores del virus en una población de 256 búfalos. Los resultados muestran que los animales vacunados presentaron títulos de anticuerpos neutralizantes (mayor 1.5 logarítmico) para las valencias de virus de fiebre aftosa analizadas. Anticuerpos contra el antígeno VIA fueron detectados en el 5.1 por ciento de los sueros por la técnica de inmunodifusión en agar y en el 66.8 por ciento por la técnica de ensayo inmunoenzimático (ELISA). Se encontró una correlación significativa (P menor que 0,05) entre los títulos de anticuerpos neutralizantes y la reactividad al antígeno VIA por la técnica de ELISA (r igual a 0.2557). No fue posible el aislamiento del virus de muestras de líquido esofagofaríngeo por pasajes seriados en células IBRS2. Estos resultados sugirieron la ausencia de actividad del virus de la fiebre aftosa durante el período analizado o que esta especie es más refractaria a la infección que las otras especies suceptibles. Se discute la significancia de la presencia de anticuerpos contra la fiebre aftosa y el papel del búfalo indú en la epizootiología de la enfermedad en el estado de Sao Paulo.Ganado de doble propósito-Ganaderia doble proposit

Electrocatalytic Reduction of Bromothiophenes on Gold and Silver Electrodes: an Example of Synergism in Electrocatalysis

The reductive cleavage of C\u2013Br bonds on silver electrodes can be regarded as an ideal model of dissociative electron transfer (DET) in electrocatalytic conditions, modulated by many factors, among which the molecular structure is of particular relevance. A detailed mechanistic study based on a large set of compounds with different molecular structures allowed us a full rationalization of the process for the case of aryl bromides in acetonitrile. [1] Now we are extending this research to heteroaromatic halides, in which the heteroatom not only makes the aromatic ring asymmetric from the perspective of the electron density but also can have its own specific interactions with the electrode surface, in addition to those of the halide ions. [2] As a first approach, we have selected the mono-, di-, tri- and tetra-bromothiophene series, plus a series of substituted bromothiophenes together with the corresponding bromobenzenes as benchmarks, investigating (by CV, supported by EIS in selected cases) the electrochemical reduction of the whole family: (i) on glassy carbon, GC, assumed as a non-catalytic reference electrode accounting for intrinsic reactivity; (ii) on the highly catalytic silver electrode; (iii) on gold electrode, showing in former halide cases lower catalytic effects than silver but having the highest affinity for the sulphur atom in the thiophene ring. While the results on GC and on Ag are fully consistent with the formerly studied aryl bromide case on the same two electrodes [1] the catalytic effects of Au appear to be neatly modulated by the relative position of the Br leaving group with respect to the sulphur atom. This feature is quite evident and reproducible in the whole series (including polysubstituted cases provided by our organic partner group), and points to the S atom acting as an asymmetrically anchoring group for the molecule on the Au surface. [1] S. Arnaboldi, A. Gennaro, A.A. Isse, P.R. Mussini (2015) Electrochimica Acta, 158, 427-436 [2] S. Arnaboldi, A. Bonetti, E. Giussani, P.R. Mussini, T. Benincori, S. Rizzo, A.A. Isse, A. Gennaro (2014) Electrochemistry Communications, 38, 100-10

Primordial perturbations in a non singular bouncing universe model

We construct a simple non singular cosmological model in which the currently observed expansion phase was preceded by a contraction. This is achieved, in the framework of pure general relativity, by means of a radiation fluid and a free scalar field having negative energy. We calculate the power spectrum of the scalar perturbations that are produced in such a bouncing model and find that, under the assumption of initial vacuum state for the quantum field associated with the hydrodynamical perturbation, this leads to a spectral index n=-1. The matching conditions applying to this bouncing model are derived and shown to be different from those in the case of a sharp transition. We find that if our bounce transition can be smoothly connected to a slowly contracting phase, then the resulting power spectrum will be scale invariant.Comment: 11 pages, RevTeX 4, 8 figures, submitted to Phys. Rev.