Effectiveness of combined sharing and freeness analysis using abstract interpretation

This paper presents improved unification algorithms, an implementation, and an analysis of the effectiveness of an abstract interpreter based on the sharing + freeness domain presented in a previous paper, which was designed to accurately and concisely represent combined freeness and sharing information for program variables. We first briefly review this domain and the unification algorithms previously proposed. We then improve these algorithms and correct them to deal with some cases which were not well analyzed previously, illustrating the improvement with an example. We then present the implementation of the improved algorithm and evaluate its performance by comparing the effectiveness of the information inferred to that of other interpreters available to us for an application (program parallelization) that is common to all these interpreters. All these systems have been embedded in a real parallelizing compiler. Effectiveness of the analysis is measured in terms of actual final performance of the system: i.e. in terms of the actual speedups obtained. The results show good performance for the combined domain in that it improves the accuracy of both types of information and also in that the analyzer using the combined domain is more effective in the application than any of the other analyzers it is compared to.

QKD in standard optical telecommunications networks

To perform Quantum Key Distribution, the mastering of the extremely weak signals carried by the quantum channel is required. Transporting these signals without disturbance is customarily done by isolating the quantum channel from any noise sources using a dedicated physical channel. However, to really profit from this technology, a full integration with conventional network technologies would be highly desirable. Trying to use single photon signals with others that carry an average power many orders of magnitude bigger while sharing as much infrastructure with a conventional network as possible brings obvious problems. The purpose of the present paper is to report our efforts in researching the limits of the integration of QKD in modern optical networks scenarios. We have built a full metropolitan area network testbed comprising a backbone and an access network. The emphasis is put in using as much as possible the same industrial grade technology that is actually used in already installed networks, in order to understand the throughput, limits and cost of deploying QKD in a real network.

International for-profit investiments in microfinance institutions equity

In recent years international investors are increasing the focus on the social consequences of their investments along with its financial returns. The microfinance sector, considered as an asset class is a relatively young concept but the microfinance industry is experiencing a tremendous growth and has a high potential for the future. Today most social responsible investments in microfinance are performed through loans or fixed income structured finance vehicles. The possibilities to invest in the equity tranche of the industry are still scarce since the number of listed microfinance institutions is reduced and the private equity investments are limited and difficult to reach for the majority of investors. In this document we present a study on the characteristics of the MFIs and we try to shed some light on this subsector of the equity assets universe that may become important in the coming future. Keywords: Microfinance institutions, Micro-credits, Financial Institutions, Equity; Stock Exchange

Contribution sharing of a fuel mixture components to the fuel cell potencial of a direct alcohol fuel cell

The increasing worldwide demand for electricity impels to develop clean and renewable energy resources. In the field of portable power devices not only size and weight represent important aspects to take into account, but the fuel and its storage are also critical issues to consider. In this last sense, the direct methanol (MeOH) fuel cells (DMFC) play an important role as they can offer high power and energy density, low emissions, ambient operating conditions and fast and convenient refuelling.

Short paper: From streaming data to linked data. A case study with bike sharing systems

Current methods and tools that support Linked Data publication have mainly focused so far on static data, without considering the growing amount of streaming data available on the Web. In this paper we describe a case study that involves the publication of static and streaming Linked Data for bike sharing systems and related entities. We describe some of the challenges that we have faced, the solutions that we have explored, the lessons that we have learned, and the opportunities that lie in the future for exploiting Linked Stream Data.

International For-Profit Investments in Microfinance Institutions Equity

Purpose: The purpose of this document is to review the funding options for Microfinance Institutions (MFIs), define the size of the holdings of international investors in MFI equity and in particular the MFIs listed in stock exchanges, analyze the characteristics of these subset of the financial world and study the stock exchange evolution of some listed MFIs amid the financial crisis. Design/methodology/approach: Since academic literature on listed MFI equity is virtually inexistent, most of the information has been obtained from the World Bank, annual accounts of the listed MFIs, stock exchanges and from equity research documents. Findings and Originality/value: Microfinance Institutions share several common characteristics that make them a resilient business and the few MFIs that are listed in stock exchanges seem to have performed better in the financial crisis. Microfinance can be considered as one of the new frontiers of the expansion of the global banking industry. Practical implications: Presently, international for-profit investors have very few ways of investing in microfinance equity. Most of the equity of the MFI equity is funded locally or thanks to the local public sector. The stock exchange listing of the MFIs should drive MFIs towards a more professional management, more transparency and better governance. Social implications: Microfinance Institutions provide credit to microenterprises in poor countries that have no other alternative sources of external capital to expand its activity. If global investors could easily invest in the listed equity of the MFIs these institutions would expand its lending books and would improve its governance, part of the population living in poor areas or with lower income could ameliorate its standard of living. Originality/value: The number of Microfinance Institutions that are professionally run like commercial banks is still scarce and even more scarce are the MFI listed in public stock exchanges. Therefore the published literature on the characteristics and performance of the listed equity of the Microfinance Institutions is extremely reduced. But microfinance assets are rapidly growing and MFIs will need to list their equity in stock exchanges to sustain this expansion.

A sharing-based approach to supporting adaptation in service compositions

Data-related properties of the activities involved in a service composition can be used to facilitate several design-time and run-time adaptation tasks, such as service evolution, distributed enactment, and instance-level adaptation. A number of these properties can be expressed using a notion of sharing. We present an approach for automated inference of data properties based on sharing analysis, which is able to handle service compositions with complex control structures, involving loops and sub-workflows. The properties inferred can include data dependencies, information content, domain-defined attributes, privacy or confidentiality levels, among others. The analysis produces characterizations of the data and the activities in the composition in terms of minimal and maximal sharing, which can then be used to verify compliance of potential adaptation actions, or as supporting information in their generation. This sharing analysis approach can be used both at design time and at run time. In the latter case, the results of analysis can be refined using the composition traces (execution logs) at the point of execution, in order to support run-time adaptation.

Reviewing technical approaches for sharing and preservation of experimental data

Empirical Software Engineering (ESE) replication researchers need to store and manipulate experimental data for several purposes, in particular analysis and reporting. Current research needs call for sharing and preservation of experimental data as well. In a previous work, we analyzed Replication Data Management (RDM) needs. A novel concept, called Experimental Ecosystem, was proposed to solve current deficiencies in RDMapproaches. The empirical ecosystem provides replication researchers with a common framework that integrates transparently local heterogeneous data sources. A typical situation where the Empirical Ecosystem is applicable, is when several members of a research group, or several research groups collaborating together, need to share and access each other experimental results. However, to be able to apply the Empirical Ecosystem concept and deliver all promised benefits, it is necessary to analyze the software architectures and tools that can properly support it.

Linked Data for sharing, discovery and re-use of Language Resources at a Web scale

Conferencia por invitación, impartida el 31 d mayo de 2014 en el Workshop on Language Technology Service Platforms: Synergies, Standards, Sharing at LREC2014

Analysis of the Optimal Sharing of Construction Risk in Public Procurement Contracts

This paper discusses a model based on the agency theory to analyze the optimal transfer of construction risk in public works contracts. The base assumption is that of a contract between a principal (public authority) and an agent (firm), where the payment mechanism is linear and contains an incentive mechanism to enhance the effort of the agent to reduce construction costs. A theoretical model is proposed starting from a cost function with a random component and assuming that both the public authority and the firm are risk averse. The main outcome of the paper is that the optimal transfer of construction risk will be lower when the variance of errors in cost forecast, the risk aversion of the firm and the marginal cost of public funds are larger, while the optimal transfer of construction risk will grow when the variance of errors in cost monitoring and the risk aversion of the public authority are larger

Estudio y diseño de un régimen fiscal que optimice la inversión en exploración y producción de hidrocarburos

Los regímenes fiscales que se aplican a los contratos de exploración y desarrollo de petróleo y gas, entre los propietarios del recurso natural (generalmente el país soberano representado por su gobierno) y las compañías operadoras internacionales (COI) que aportan capital, experiencia y tecnología, no han sabido responder a la reciente escalada de los precios del crudo y han dado lugar a que los países productores no estén recibiendo la parte de renta correspondiente al incremento de precios. Esto ha provocado una ola de renegociaciones llegándose incluso a la imposición unilateral de nuevos términos por parte de algunos gobiernos entre los que destacan el caso de Venezuela y Argentina, por ser los más radicales. El objetivo del presente trabajo es el estudio y diseño de un régimen fiscal que, en las actuales condiciones del mercado, consiga que los gobiernos optimicen sus ingresos incentivando la inversión. Para ello se simulan los efectos de siete tipos diferentes de fiscalidades aplicadas a dos yacimientos de características muy distintas y se valoran los resultados. El modelo utilizado para la simulación es el modelo de escenarios, ampliamente utilizado tanto por la comunidad académica como por la industria para comparar el comportamiento de diferentes regímenes fiscales. Para decidir cuál de las fiscalidades estudiadas es la mejor se emplea un método optimización multicriterio. Los criterios que se han aplicado para valorar los resultados recogen la opinión de expertos de la industria sobre qué factores se consideran deseables en un contrato a la hora invertir. El resultado permite delinear las características de un marco fiscal ideal del tipo acuerdo de producción compartida, sin royalties, con un límite alto de recuperación de crudo coste que permita recobrar todos los costes operativos y una parte de los de capital en cualquier escenario de precios, un reparto de los beneficios en función de un indicador de rentabilidad como es la TIR, con un mecanismo de recuperación de costes adicional (uplift) que incentive la inversión y con disposiciones que premien la exploración y más la de alto riesgo como la amortización acelerada de los gastos de capital o una ampliación de la cláusula de ringfence. Un contrato con estas características permitirá al gobierno optimizar los ingresos obtenidos de sus reservas de petróleo y gas maximizando la producción al atraer inversión para la exploración y mejorar la recuperación alargando la vida del yacimiento. Además al reducir el riesgo percibido por el inversor que recupera sus costes, menor será la rentabilidad exigida al capital invertido y por tanto mayor la parte de esos ingresos que irá a parar al gobierno del país productor. ABSTRACT Fiscal systems used in petroleum arrangements between the owners of the resource (usually a sovereign country represented by its government) and the international operating company (IOC) that provides capital, knowhow and technology, have failed to allocate profits from the recent escalation of oil prices and have resulted in producing countries not receiving the right share of that increase. This has caused a wave of renegotiations and even in some cases, like Venezuela and Argentina, government unilaterally imposed new terms. This paper aims to outline desirable features of a petroleum fiscal system, under current market conditions, for governments to maximize their revenues while encouraging investment. Firstly the impact of seven different types of fiscal regimes is studied with a simulation for two separate oil fields using the scenario approach. The scenario approach has been frequently employed by academic and business researchers to compare the performance of diverse fiscal regimes. In order to decide which of the fiscal regimes’ performance is best we used a multi-objective optimization decision making approach to assess the results. The criteria applied gather the preferences of a panel of industry experts about the desirable features of a contract when making investment decisions. The results show the characteristics of an ideal fiscal framework that closely resembles a production sharing contract, with no royalty payment and a high cost recovery limit that allows the IOC to recover all operating expenses and a share of its capital costs under any price scenario, a profit oil sharing mechanism based on a profitability indicator such as the ROR, with an uplift that allows to recover an additional percentage of capital costs and provisions that promote exploration investment, specially high-risk exploration, such as accelerated depreciation for capital costs and a wide definition of the ringfence clause. A contract with these features will allow governments to optimize overall revenues from its petroleum resources maximizing production by promoting investment on exploration and extending oil fields life. Also by reducing the investor’s perception of risk it will reduce the minimum return to capital required by the IOC and therefore it will increase the government share of those revenues.