Short-time behaviour of demand and price viewed through an exactly solvable model for heterogeneous interacting market agents

We introduce a stochastic heterogeneous interacting-agent model for the short-time non-equilibrium evolution of excess demand and price in a stylized asset market. We consider a combination of social interaction within peer groups and individually heterogeneous fundamentalist trading decisions which take into account the market price and the perceived fundamental value of the asset. The resulting excess demand is coupled to the market price. Rigorous analysis reveals that this feedback may lead to price oscillations, a single bounce, or monotonic price behaviour. The model is a rare example of an analytically tractable interacting-agent model which allows LIS to deduce in detail the origin of these different collective patterns. For a natural choice of initial distribution, the results are independent of the graph structure that models the peer network of agents whose decisions influence each other. (C) 2009 Elsevier B.V. All rights reserved.

Behaviour of TiO(2)-SiMgO(x) hybrid composites on the solar photocatalytic degradation of polluted air

The photocatalytic performance of TiO(2)-SiMgO(x) ceramic plates for trichloroethylene abatement in gas phase has been evaluated under sun irradiance conditions. A continuous flow Pyrex glass reactor fixed on the focus of a compound parabolic collector has been used. The performance of the hybrid photocatalyst has been evaluated as the variation of TCE conversion and reaction products formation with the solar irradiance at different total gas flow, TCE concentration, and water vapour content. SiMgO(x) not only provides adsorbent properties to the photocatalyst, but it also allows the effective use of the material during low solar irradiance conditions. The adsorption-desorption phenomena play a pivotal role in the behaviour of the system. Thus, TCE conversion curves present two different branches when the sun irradiance increases (sunrise) or decreases (sunset). CO(2), COCl(2) and DCAC were the most relevant products detected. Meanwhile CO(2) concentration was insensitive to the branch analysed, COCl(2) or DCAC were not indicating the ability of these compounds to be adsorbed on the composite. An increase of the UV irradiation at total TCE conversion promotes the CO(2) selectivity. The excess of energy arriving to the reactor favours the direct reaction pathway to produce CO(2). The photonic efficiency, calculated as a function of the rate of CO(2) formation, decreases linearly with the solar irradiance up to around 2 mW cm(-2), where it becomes constant. For decontamination systems high TCE conversion is pursuit and then high solar irradiance values are required, in spite of lower photonic efficiency values. The present photocatalyst configuration, with only 17% of the reactor volume filled with the photoactive material, allows total TCE conversion for 150 ppm and 1 L min(-1) in a wide sun irradiance window from 2 to 4 mW cm(-2). The incorporation of water vapour leads to an increase of the CO(2) selectivity keeping the TCE conversion around 90%, although significant amounts of COCl(2) were observed. (c) 2010 Elsevier B.V. All rights reserved.

Electrochemical Behaviour of the AA2024 Aluminium Alloy Modified with Self-Assembled Monolayers/Polyaniline Double Films

The electrochemical characteristics of the AA2024 aluminium alloy modified with octadecyltrimethoxysilane (ODTMS) + polyaniline (PANi) and propiltrimethoxysilane (PTMS) + (PANi) were studied in the present work. The results show that the different protective coatings shift the values of corrosion and pit potentials to more positive values making the system nobler and indicate that the double film ODTMS + PANi present the best protection against corrosion characteristics, that is probably due to the two contributions: anodic protection associated with the barrier effect.