Application of modern control theory to the design of optimum aircraft controllers

The synthesis procedure presented is based on the solution of the output regulator problem of linear optimal control theory for time-invariant systems. By this technique, solution of the matrix Riccati equation leads to a constant linear feedback control law for an output regulator which will maintain a plant in a particular equilibrium condition in the presence of impulse disturbances. Two simple algorithms are presented that can be used in an automatic synthesis procedure for the design of maneuverable output regulators requiring only selected state variables for feedback. The first algorithm is for the construction of optimal feedforward control laws that can be superimposed upon a Kalman output regulator and that will drive the output of a plant to a desired constant value on command. The second algorithm is for the construction of optimal Luenberger observers that can be used to obtain feedback control laws for the output regulator requiring measurement of only part of the state vector. This algorithm constructs observers which have minimum response time under the constraint that the magnitude of the gains in the observer filter be less than some arbitrary limit

Ground correlation investigation of thruster spacecraft interactions to be measured on the IAPS flight test

Preliminary ground correlation testing has been conducted with an 8 cm mercury ion thruster and diagnostic instrumentation replicating to a large extent the IAPS flight test hardware, configuration, and electrical grounding/isolation. Thruster efflux deposition retained at 25 C was measured and characterized. Thruster ion efflux was characterized with retarding potential analyzers. Thruster-generated plasma currents, the spacecraft common (SCC) potential, and ambient plasma properties were evaluated with a spacecraft potential probe (SPP). All the measured thruster/spacecraft interactions or their IAPS measurements depend critically on the SCC potential, which can be controlled by a neutralizer ground switch and by the SPP operation

Frameworks, Symmetry and Rigidity

Symmetry equations are obtained for the rigidity matrix of a bar-joint framework in R^d. These form the basis for a short proof of the Fowler-Guest symmetry group generalisation of the Calladine-Maxwell counting rules. Similar symmetry equations are obtained for the Jacobian of diverse framework systems, including constrained point-line systems that appear in CAD, body-pin frameworks, hybrid systems of distance constrained objects and infinite bar-joint frameworks. This leads to generalised forms of the Fowler-Guest character formula together with counting rules in terms of counts of symmetry-fixed elements. Necessary conditions for isostaticity are obtained for asymmetric frameworks, both when symmetries are present in subframeworks and when symmetries occur in partition-derived frameworks.Comment: 5 Figures. Replaces Dec. 2008 version. To appear in IJCG

Solutions for discharge chamber sputtering and anode deposit spalling in small mercury ion thrusters

Proposed solutions to the problems of sputter erosion and sputtered material spalling in the discharge chamber of small mercury ion thrusters are presented. The accelerated life test evaluated three such proposed solutions: (1) the use of tantalum as a single low sputter yield material for the exposed surfaces of the discharge chamber components subject to sputtering, (2) the use of a severely roughened anode surface to improve the adhesion of the sputter-deposited coating, and (3) the use of a wire cloth anode surface in order to limit the size of any coating flakes which might spall from it. Because of the promising results obtained in the accelerated life test with anode surfaces roughened by grit-blasting, experiments were carried out to optimize the grit-blasting procedure. The experimental results and an optimal grit-blasting procedure are presented

Is commodity price volatility persistent? Another look using improved, full-sample estimates

Crop Production/Industries, Risk and Uncertainty,

What Explains High Commodity Price Volatility? Estimating a Unified Model of Common and Commodity-Specific, High- and Low-Frequency Factors

We estimate a model of common and commodity-specific, high- and low-frequency factors, built on the spline-GARCH model of Engle and Rangel (2008) to explain the period of exceptionally high price volatility in commodity markets during 2006-2008. We find that decomposing realized volatility into high- and low-frequency components reveals the impact of slowly-evolving macroeconomic variables on the price volatility. Further, we find that while macroeconomic variables have similar effects within the same commodity category (e.g., storable agricultural), they have different effects across commodity groups (e.g., live stock versus energy).volatility, spline-GARCH, futures markets, Agricultural Finance, Demand and Price Analysis,

On Term Structure Models of Commodity Futures Prices and the Kaldor-Working Hypothesis

Both prices and the volatility of storable agricultural commodity futures contracts have been rising since 2005 and particularly since 2007. This paper aims to answer two principal questions: (i) How has the behavior of these futures prices over time and across maturities changed with the rise of biofuels and their demand-side pres- sure on corn and related crops?, and (ii) Is there now stronger or weaker evidence of the Kaldor-Working convenience yield-storage hypothesis, whereby futures price backwardation can be explained by the high value of remaining inventory stocks when these are near stockouts? The empirical application is to Chicago Board of Trade corn, wheat and soybeans futures. To make use of all available futures data rather than only the nearby, this paper adopts a recently developed affine term structure model approach and conducts estimation in state-space form using the Kalman filter. A novel aspect of the research is that it allows an arbitrary number N of state vari- ables, where more variables provide further precision and curvature but at a higher computational cost. It is found that a three-state variable model containing both ran- dom walk and mean reversion components provides the most parsimonious fit during 1988-2004, but that a simple one-state variable model is optimal for the period 2005- 2007. The main implication is that futures prices since 2005 behave much more like a \random walk" than before. Also, the model allows us to estimate the term struc- ture of volatility and it is found that distant maturity futures should be expected to be much more volatile than historically normal. Two practical but only tentative implications are: (a) hedgers should use significantly lower hedge ratios than before, and (b) for traders, the classic Black-Scholes option pricing solution should perform better now than it has historically. Lastly, the paper finds partial empirical support for the convenience yield relationship with relative inventory stocks, especially for soybeans and wheat.Agricultural Finance, C52, C53, G12, G13, Q13, Q14,

The Shape of the Optimal Hedge Ratio: Modeling Joint Spot-Futures Prices using an Empirical Copula-GARCH Model

Commodity cash and futures prices have been rising steadily since 2006. As evidenced by the April 2008 Commodity Futures Trading Commission Agricultural Forum, there is much concern among traditional futures and options market participants that the usefulness of commodity derivatives has been compromised. When basis risk is particularly high, dynamic hedging methods may be helpful despite their complexity and higher transaction costs. To assess the potential benefits of dynamic hedging in volatile times, this paper proposes a novel, empirical copula-based method to estimate GARCH models and to compute time-varying hedge ratios. This approach allows a nonlinear, asymmetric dependence structure between cash and futures prices. The paper addresses four principal questions: (1) Does the empirical copula-GARCH method overcome traditional limitations of dynamic hedging methods? (2) How does the empirical copula- GARCH hedging approach perform, for storable agricultural commodities, compared with traditional GARCH and Minimum Variance (static) hedging methods? (3) Is dynamic hedging more or less effective in the post-2006 biofuels expansion time period? (4) How sensitive is the ranking of methods to the hedging effectiveness criterion used? Preliminary findings suggest that the empirical copula-GARCH approach leads to superior hedging effectiveness based on some, but not all, risk criteria.Agricultural Finance,