Rotorcraft research in India: recent developments

Purpose - The purpose of this paper is to discuss published research in rotorcraft which has taken place in India during the last ten years The helicopter research is divided into the following parts health monitoring smart rotor design optimization control helicopter rotor dynamics active control of structural response (ACSR) and helicopter design and development Aspects of health monitoring and smart rotor are discussed in detail Further work needed and areas for international collaboration are pointed out Design/methodology/approach - The archival journal papers on helicopter engineering published from India are obtained from databases and are studied and discussed The contribution of the basic research to the state of the art in helicopter engineering science is brought out Findings - It is found that strong research capabilities have developed in rotor system health and usage monitoring rotor blade design optimization ACSR composite rotor blades and smart rotor development Furthermore rotorcraft modeling and analysis aspects are highly developed with considerable manpower available and being generated in these areas Practical implications - Two helicopter projects leading to the advanced light helicopter and light combat helicopter have been completed by Hindustan Aeronautics Ltd These helicopter programs have benefited from the basic research and also provide platforms for further basic research and deeper industry academic collaborations The development of well trained helicopter engineers is also attractive for international helicopter design and manufacturing companies The basic research done needs to be further developed for practical and commercial applications Originality/value - This is the first comprehensive research on rotorcraft research in India an important emerging market manufacturing and sourcing destination for the industry

Evaluating competing theories of street entrepreneurship

Conventionally, street entrepreneurs were either seen as a residue from a pre-modern era that is gradually disappearing (modernisation theory), or an endeavour into which marginalised populations are driven out of necessity in the absence of alternative ways of securing a livelihood (structuralist theory). In recent years, however, participa-tioninstreetentrepreneurshiphas beenre-read eitherasa rationaleconomicchoice(neo-liberal theory) or as conducted for cultural reasons (post-modern theory). The aim of this paper is to evaluate critically these competing explanations for participation in street entrepreneurship. To do this, face-to-face interviews were conducted with 871 street entrepreneurs in the Indian city of Bangalore during 2010 concerning their reasons for participation in street entrepreneurship. The finding is that no one explanation suffices. Some 12 % explain their participation in street entrepreneurship as necessity-driven, 15 % as traditional ancestral activity, 56 % as a rational economic choice and 17 % as pursued for social or lifestyle reasons. The outcome is a call to combine these previously rival explanations in order to develop a richer and more nuanced theorisation of the multifarious motives for street entrepreneurship in emerging market economies.

Risk Minimizing Option Pricing in a Semi-Markov Modulated Market

We address risk minimizing option pricing in a semi-Markov modulated market where the floating interest rate depends on a finite state semi-Markov process. The growth rate and the volatility of the stock also depend on the semi-Markov process. Using the Föllmer–Schweizer decomposition we find the locally risk minimizing price for European options and the corresponding hedging strategy. We develop suitable numerical methods for computing option prices.

Portfolio Optimization in a Semi-Markov Modulated Market

We address a portfolio optimization problem in a semi-Markov modulated market. We study both the terminal expected utility optimization on finite time horizon and the risk-sensitive portfolio optimization on finite and infinite time horizon. We obtain optimal portfolios in relevant cases. A numerical procedure is also developed to compute the optimal expected terminal utility for finite horizon problem.

Asymptotic analysis of option pricing in a Markov modulated market

We address asymptotic analysis of option pricing in a regime switching market where the risk free interest rate, growth rate and the volatility of the stocks depend on a finite state Markov chain. We study two variations of the chain namely, when the chain is moving very fast compared to the underlying asset price and when it is moving very slow. Using quadratic hedging and asymptotic expansion, we derive corrections on the locally risk minimizing option price.

Emerging trends at the interface of chemistry and biology: Applications to the design of human therapeutics

This article describes recent developments in the design and implementation of various strategies towards the development of novel therapeutics using first principles from biology and chemistry. Strategies for multi-target therapeutics and network analysis with a focus on cancer and HIV are discussed. Methods for gene and siRNA delivery are presented along with challenges and opportunities for siRNA therapeutics. Advances in protein design methodology and screening are described, with a focus on their application to the design of antibody based therapeutics. Future advances in this area relevant to vaccine design are also mentioned.

Development of twist in an emerging magnetic flux tube by poloidal field accretion

Aims. Following an earlier proposal for the origin of twist in the magnetic fields of solar active regions, we model the penetration of a wrapped up background poloidal field into a toroidal magnetic flux tube rising through the solar convective zone.Methods. The rise of the straight, cylindrical flux tube is followed by numerically solving the induction equation in a comoving Lagrangian frame, while an external poloidal magnetic field is assumed to be radially advected onto the tube with a speed corresponding to the rise velocity.Results. One prediction of our model is the existence of a ring of reverse current helicity on the periphery of active regions. On the other hand, the amplitude of the resulting twist depends sensitively on the assumed structure ( diffuse vs. concentrated/intermittent) of the active region magnetic field right before its emergence, and on the assumed vertical profile of the poloidal field. Nevertheless, in the model with the most plausible choice of assumptions a mean twist comparable to the observations results.Conclusions. Our results indicate that the contribution of this mechanism to the twist can be quite significant, and under favourable circumstances it can potentially account for most of the current helicity observed in active regions.

Effect of Turbulence on Emerging Magnetic Flux Tubes in the Convection Zone

Working under the hypothesis that magnetic flux in the sun is generated at the bottom of the convection zone, Choudhuri and Gilman (1987; Astrophys. J. 316, 788) found that a magnetic flux tube symmetric around the rotation axis, when released at the bottom of the convection zone, gets deflected by the Coriolis force and tends to move parallel to the rotation axis as it rises in the convection zone. As a result, all the flux emerges at rather high latitudes and the flux observed at the typical sunspot latitudes remains unexplained. Choudhuri (1989; Solar Physics, in press) finds that non-axisymmetric perturbations too cannot subdue the Coriolis force. In this paper, we no longer treat the convection zone to be passive as in the previous papers, but we consider the role of turbulence in the convection zone in inhibiting the Coriolis force. The interaction of the flux tubes with the turbulence is treated in a phenomenological way as follows: (1) Large scale turbulence on the scale of giant cells can physically drag the tubes outwards, thus pulling the flux towards lower latitudes by dominating over the Coriolis force. (2) Small scale turbulence of the size of the tubes can exchange angular momentum with the tube, thus suppressing the growth of the Coriolis force and making the tubes emerge at lower latitudes. Numerical simulations show that the giant cells can drag the tubes and make them emerge at lower latitufes only if the velocities within the giant cells are unrealistically large of if the radii of the flux tubes are as small as 10 km. However, small scale turbulence can successfully suppress the growth of the Coriolis force if the tubes have radii smaller than about 300 km which may not be unreasonable. Such flux tubes can then emerge at low latitudes where sunspots are seen.

Risk Minimizing Option Pricing for a Class of Exotic Options in a Markov-Modulated Market

We address risk minimizing option pricing in a regime switching market where the floating interest rate depends on a finite state Markov process. The growth rate and the volatility of the stock also depend on the Markov process. Using the minimal martingale measure, we show that the locally risk minimizing prices for certain exotic options satisfy a system of Black-Scholes partial differential equations with appropriate boundary conditions. We find the corresponding hedging strategies and the residual risk. We develop suitable numerical methods to compute option prices.

The physics and technology of gallium antimonide: An emerging optoelectronic material

Recent advances in nonsilica fiber technology have prompted the development of suitable materials for devices operating beyond 1.55 mu m. The III-V ternaries and quaternaries (AlGaIn)(AsSb) lattice matched to GaSb seem to be the obvious choice and have turned out to be promising candidates for high speed electronic and long wavelength photonic devices. Consequently, there has been tremendous upthrust in research activities of GaSb-based systems. As a matter of fact, this compound has proved to be an interesting material for both basic and applied research. At present, GaSb technology is in its infancy and considerable research has to be carried out before it can be employed for large scale device fabrication. This article presents an up to date comprehensive account of research carried out hitherto. It explores in detail the material aspects of GaSb starting from crystal growth in bulk and epitaxial form, post growth material processing to device feasibility. An overview of the lattice, electronic, transport, optical and device related properties is presented. Some of the current areas of research and development have been critically reviewed and their significance for both understanding the basic physics as well as for device applications are addressed. These include the role of defects and impurities on the structural, optical and electrical properties of the material, various techniques employed for surface and bulk defect passivation and their effect on the device characteristics, development of novel device structures, etc. Several avenues where further work is required in order to upgrade this III-V compound for optoelectronic devices are listed. It is concluded that the present day knowledge in this material system is sufficient to understand the basic properties and what should be more vigorously pursued is their implementation for device fabrication. (C) 1997 American Institute of Physics.