Evaluation Method for Strategic Investments

Real Options Analysis (ROA) has become a complimentary tool for engineering economics. It has become popular due to the limitations of conventional engineering valuation methods; specifically, the assumptions of uncertainty. Industry is seeking to quantify the value of engineering investments with uncertainty. One problem with conventional tools are that they may assume that cash flows are certain, therefore minimizing the possibility of the uncertainty of future values. Real options analysis provides a solution to this problem, but has been used sparingly by practitioners. This paper seeks to provide a new model, referred to as the Beta Distribution Real Options Pricing Model (BDROP), which addresses these limitations and can be easily used by practitioners. The positive attributes of this new model include unconstrained market assumptions, robust representation of the underlying asset‟s uncertainty, and an uncomplicated methodology. This research demonstrates the use of the model to evaluate the use of automation for inventory control.

Genetic isolation and morphological divergence of Black Sea bottlenose dolphins

The Black Sea is a semi-enclosed body of water that differs from the adjacent Mediterranean Sea in terms of its biodiversity, oceanographical and ecological characteristics. There is growing international concern about pollution in the Black Sea and other anthropogenic threats to its fauna. The bottlenose dolphin (Tursiops truncatus) is one of three species of cetaceans living in the Azov-Black Sea basin. Despite considerable research on bottlenose dolphins elsewhere, the extent of human impacts on the Black Sea populations is unknown. Previous attempts to award special conservation status to Black Sea cetaceans have failed specifically because policy makers have viewed their ecological and evolutionary uniqueness as equivocal. This study assessed divergence between Black Sea, Mediterranean Sea and Atlantic Ocean bottlenose dolphins for 26 cranial measurements (n = 75 adult bottlenose dolphin skulls) and mitochondrial DNA (n = 99 individuals). Black Sea bottlenose dolphins are smaller than those in the Mediterranean, and possess a uniquely shaped skull. As in a previous study, we found the Black Sea population to be genetically distinct, with relatively low levels of mtDNA diversity. Population genetic models suggest that Black Sea bottlenose dolphins have so little gene flow with the Mediterranean due to historical isolation that they should be managed separately.

Selective Foraging For Anthropogenic Resources By Black Bears: Minivans In Yosemite National Park

Black bears (Ursus americanus) forage selectively in natural environments. To determine if bears also forage selectively for anthropogenic resources we analyzed data on vehicles broken into by bears from Yosemite National Park, California. We classified vehicles into 9 categories based on their make and model and collected data on use (2001–2007) and availability (2004–2005). From 2001 to 2007 bears broke into 908 vehicles at the following rates: minivan (26.0%), sport–utility vehicle (22.5%), small car (17.1%), sedan (13.7%), truck (11.9%), van (4.2%), sports car (1.7%), coupe (1.7%), and station wagon (1.4%). Only use of minivans (29%) during 2004–2005 was significantly higher than expected (7%). We discuss several competing hypotheses about why bears selected minivans.

Ctenosaura similis (Black Spiny-Tailed Iguana), ,i>Gopherus Polyphemus (Gopher Tortoise) Concurrent Burrow Use

Ctenosaura similis is exotic to Florida (Meshaka et al. 2004. The Exotic Amphibians and Reptiles of Florida, Krieger Publ. Co., Malabar, Florida. 155 pp.), whereas Gopherus polyphemus is listed as a species of special concern by the state of Florida (Florida Wildlife Code Chap. 39 F.A.C.), and as a threatened species by the Florida Committee on Rare and Endangered Plants and Animals (FCREPA) (Moler 1992. Rare and Endangered Biota of Florida: Volume III, Reptiles and Amphibians. University Press of Florida, Gainesville, Florida. 291 pp.).

In-Burrow Application of Rozol to Manage Black-Tailed Prairie Dogs

Our experiment demonstrated that black-tailed prairie dogs (Cynomys ludovicianus) will consume rodenticide underground in their burrows. We demonstrated the efficacy of Rozol Pocket Gopher Bait containing the active ingredient chlorophacione (0.005%) 21 days post treatment for managing black-tailed prairie dogs in their burrows in Kansas. Active prairie dog burrows were reduced 90% when 54 grams of Rozol was placed in the burrow without prebaiting. Results indicate use of this toxicant when placed in the burrow can be an effective means of managing prairie dogs. In-burrow application of rodenticides for black-tailed prairie dog management should markedly reduce exposure of birds to toxic bait.