An Algebraic Preservation Theorem for Aleph-Zero Categorical Quantified Constraint Satisfaction

23 p. -- An extended abstract of this work appears in the proceedings of the 2012 ACM/IEEE Symposium on Logic in Computer Science

A New Type of Coincidence and Common Fixed Point Theorem with Applications

Coincidence and common fixed point theorems for a class of 'Ciric-Suzuki hybrid contractions involving a multivalued and two single-valued maps in a metric space are obtained. Some applications including the existence of a common solution for certain class of functional equations arising in a dynamic programming are also discussed..

An approach version of fuzzy metric spaces including an ad hoc fixed point theorem

In this paper, inspired by two very different, successful metric theories such us the real view-point of Lowen's approach spaces and the probabilistic field of Kramosil and Michalek's fuzzymetric spaces, we present a family of spaces, called fuzzy approach spaces, that are appropriate to handle, at the same time, both measure conceptions. To do that, we study the underlying metric interrelationships between the above mentioned theories, obtaining six postulates that allow us to consider such kind of spaces in a unique category. As a result, the natural way in which metric spaces can be embedded in both classes leads to a commutative categorical scheme. Each postulate is interpreted in the context of the study of the evolution of fuzzy systems. First properties of fuzzy approach spaces are introduced, including a topology. Finally, we describe a fixed point theorem in the setting of fuzzy approach spaces that can be particularized to the previous existing measure spaces.

Long Term Dynamics in CO2 Allowance Prices and Carbon Capture Investments

In this paper we analyse the behaviour of the EU market for CO2 emission allowances; specifically, we focus on the contracts maturing in the Kyoto Protocol's second period of application (2008 to 2012). We calibrate the underlying parameters for the allowance price in the long run and we also calibrate those from the Spanish wholesale electricity market. This information is then used to assess the option to install a carbon capture and storage (CCS) unit in a coal-fired power plant. We use a two-dimensional binomial lattice where costs and profits are valued and the optimal investment time is determined. In other words, we study the trigger allowance prices above which it is optimal to install the capture unit immediately. We further analyse the impact of several variables on the critical prices, among them allowance price volatility and a hypothetical government subsidy. We conclude that, at current permit prices, from a financial point of view, immediate installation does not seem justified. This need not be the case, though, if carbon market parameters change dramatically and/or a specific policy to promote these units is adopted.

Valuing Flexibility: The case of an Integrated Gasification Combined Cycle Power Plant

In this paper we analyze the valuation of options stemming from the flexibility in an Integrated Gasification Combined Cycle (IGCC) Power Plant. First we use as a base case the opportunity to invest in a Natural Gas Combined Cycle (NGCC) Power Plant, deriving the optimal investment rule as a function of fuel price and the remaining life of the right to invest. Additionally, the analytical solution for a perpetual option is obtained. Second, the valuation of an operating IGCC Power Plant is studied, with switching costs between states and a choice of the best operation mode. The valuation of this plant serves as a base to obtain the value of the option to delay an investment of this type. Finally, we derive the value of an opportunity to invest either in a NGCC or IGCC Power Plant, that is, to choose between an inflexible and a flexible technology, respectively. Numerical computations involve the use of one- and two-dimensional binomial lattices that support a mean-reverting process for the fuel prices. Basic parameter values refer to an actual IGCC power plant currently in operation.

Approximate knowledge of rationality and correlated equilibria

We extend Aumann's [3] theorem deriving correlated equilibria as a consequence of common priors and common knowledge of rationality by explicitly allowing for non-rational behavior. We replace the assumption of common knowledge of rationality with a substantially weaker notion, joint p-belief of rationality, where agents believe the other agents are rational with probabilities p = (pi)i2I or more. We show that behavior in this case constitutes a constrained correlated equilibrium of a doubled game satisfying certain p-belief constraints and characterize the topological structure of the resulting set of p-rational outcomes. We establish continuity in the parameters p and show that, for p su ciently close to one, the p-rational outcomes are close to the correlated equilibria and, with high probability, supported on strategies that survive the iterated elimination of strictly dominated strategies. Finally, we extend Aumann and Dreze's [4] theorem on rational expectations of interim types to the broader p-rational belief systems, and also discuss the case of non-common priors.

Optimal Investment in Energy Efficiency under Uncertainty

41 p.

Optimal Abandonment of Coal-Fired Stations in the EU

36 p.

The Forbidden Quantum Adder

Quantum information provides fundamentally different computational resources than classical information. We prove that there is no unitary protocol able to add unknown quantum states belonging to different Hilbert spaces. This is an inherent restriction of quantum physics that is related to the impossibility of copying an arbitrary quantum state, i.e., the no-cloning theorem. Moreover, we demonstrate that a quantum adder, in absence of an ancillary system, is also forbidden for a known orthonormal basis. This allows us to propose an approximate quantum adder that could be implemented in the lab. Finally, we discuss the distinct character of the forbidden quantum adder for quantum states and the allowed quantum adder for density matrices.

Pata contractions and coupled type fixed points

A new coupled fixed point theorem related to the Pata contraction for mappings having the mixed monotone property in partially ordered complete metric spaces is established. It is shown that the coupled fixed point can be unique under some extra suitable conditions involving mid point lower or upper bound properties. Also the corresponding convergence rate is estimated when the iterates of our function converge to its coupled fixed point.

Estrategias de diversificación en los grupos familiares y no familiares: principales diferencias según el tipo de grupo no familiar

[ES] Durante la última década surge un interés por el estudio de la estructura de propiedad como elemento determinante de la diversificación. Sin embargo, existe una carencia de investigaciones que analicen la influencia de la naturaleza del último propietario en el nivel y tipo de diversificación. Por ello, el objeto del presente trabajo es analizar las estrategias de diversificación empleadas por los grandes grupos empresariales españoles cuya empresa matriz cotiza en los mercados de valores, estudiando las diferencias existentes entre grupos familiares y no familiares, y considerando en estos últimos la naturaleza del último propietario. Se parte de una muestra de noventa y nueve grupos empresariales, donde se identifican las compañías que constituyen el grupo empresarial, siendo empleadas como metodologías econométricas los modelos logísticos binomiales y los modelos datos panel. Los resultados muestran como la naturaleza familiar del grupo influye positivamente en la especialización y en el empleo de estrategias de diversificación relacionada, y negativamente en el empleo de estrategias de diversificación no relacionada. Los grupos familiares difieren en mayor medida de aquellos grupos no familiares donde no existe un accionista de referencia que pueda ejercer el control efectivo del grupo y la dispersión de la propiedad es mayor, los denominados grupos sin control efectivo . La investigación permite profundizar en el análisis de las diferencias existentes entre grupos familiares y no familiares, y más concretamente en el ámbito de las estrategias de crecimiento, considerando la naturaleza del último propietario de los grupos no familiares.

Density-potential mapping in the standard and quantum electrodynamical time-dependent density functional theory

131 p.

Biomimetic Cloning of Quantum Observables

We propose a bio-inspired sequential quantum protocol for the cloning and preservation of the statistics associated to quantum observables of a given system. It combines the cloning of a set of commuting observables, permitted by the no-cloning and no-broadcasting theorems, with a controllable propagation of the initial state coherences to the subsequent generations. The protocol mimics the scenario in which an individual in an unknown quantum state copies and propagates its quantum information into an environment of blank qubits Finally, we propose a realistic experimental implementation of this protocol in trapped ions.

Valuation of Wind Energy Projects: A Real Options Approach

We address the valuation of an operating wind farm and the finite-lived option to invest in it under different reward/support schemes: a constant feed-in tariff, a premium on top of the electricity market price (either a fixed premium or a variable subsidy such as a renewable obligation certificate or ROC), and a transitory subsidy, among others. Futures contracts on electricity with ever longer maturities enable market-based valuations to be undertaken. The model considers up to three sources of uncertainty: the electricity price, the level of wind generation, and the certificate (ROC) price where appropriate. When analytical solutions are lacking, we resort to a trinomial lattice combined with Monte Carlo simulation; we also use a two-dimensional binomial lattice when uncertainty in the ROC price is considered. Our data set refers to the UK. The numerical results show the impact of several factors involved in the decision to invest: the subsidy per MWh generated, the initial lump-sum subsidy, the maturity of the investment option, and electricity price volatility. Different combinations of variables can help bring forward investments in wind generation. One-off policies, e.g., a transitory initial subsidy, seem to have a stronger effect than a fixed premium per MWh produced.