Tertiary evolution of the São Vicente and Setúbal submarine canyons, Southwest Portugal: insights from seismic stratigraphy

The Setúbal and São Vicente canyons are two major modern submarine canyons located in the southwest Iberian margin of Portugal. Although recognised as Pliocene to Quaternary features, their development during the Tertiary has not been fully understood up to date. A grid of 2D seismic data has been used to characterise the sedimentary deposits of the adjacent flanks to the submarine canyons. The relationship between the geological structure of the margin and the canyon's present location has been investigated. The interpretation of the main seismic units allowed the recognition of three generations of ravinements probably originated after middle Oligocene. Six units grouped in two distinctive seismic sequences have been identified and correlated with offshore stratigraphic data. Seismic Sequence 2 (SS2), the oldest, overlies Mesozoic and upper Eocene deformed units. Seismic Sequence I (SS1) is composed of four different seismic packages separated from SS2 by an erosional surface. The base of the studied sediment ridges is marked by an extensive erosional surface derived from a early/middle Oligocene relative sea-level fall. Deposition in the adjacent area to the actual canyons was reinitiated in late Oligocene in the form of transgressive and channel-fill deposits. A new depositional hiatus is recorded onshore during the Burdigalian, coincident with the unconformity separating SS1 and SS2. This can be correlated with the Arrábida unconformity and with the paroxysmal Burdigalian phase of the Betic domain. Presently, the Setúbal and São Vicente submarine canyons locally cut SS1 and SS2, forming distinctive channels from those recognised on the seismic data. On the upper shelf both dissect highly deformed areas subject to important erosion.

Estratigrafia sismica do cenozóico na plataforma continental algarvia: interpretação do controle tectónico da sedimentação

The interpretation of 64 seismic reflection profiles in the Algarve continental platform (36º 20'-37º 00' paralels and 7º 20'-8º 40' meridians) calibrated with five petroleum exploration wells, with the identification of the geometric relations between six Cenozoic seismic units (B to G) and tectonic structures, allowed the construction of sucessive time-isopach maps (twt/s) and detailed interpretation of the geologic evolution. Two major tectonic structures were identified: a) the Portimão-Monchique fracture zone (striking N-S); b) an off-shore NW-SE fault zone, probably the S. Marcos-Quarteira fault. This accident separates two tectonic domains: the western domain (with N-S and E-W predominant structures and, secondarily, NW-SE and NE-SW) and the eastern domain (dominated by WSW-ENE, NW-SE, NE-SW, NNE-SSW and NNW-SSE structures). A persistent halokinetic activity had two major moments: a) sin-C unit; b) sin- and post-E unit. An increasing flexuration of the margin was identified, with spacial and temporal variation of the subsidence. The tectonic regime is considered as generally compressive, but the interpretation of the successíve stress-fields is rendered dificult by the existence of tectonic sub-domains and evaporitic structures.

The three main marine depositional cycles of the Neogene of Portugal

The present work follows a stratigraphic model for the marine Neogene of Portugal based on the definition of three main marine sedimentary cycles. Conceptually the I, II and III Neogene Cycles can be defined as 2nd order sedimentary sequences with duration ranging from 5 to 8 Ma. The I Neogene Cycle is fully represented only in the Lower Tagus Basin. Ranging from the Early Aquitanian to the Late Burdigalian the I Neogene Cycle testify a transgressive episode in the region of Lisbon and Setúbal Peninsula. Rapid lateral facies variations suggest a shallowmarine basin. This cycle ends with an important Late Burdigalian tectonic compressive event expressed by uplift of the surrounding areas and deformation affecting the Early Miocene deposits of the Arrábida Chain. The II Neogene Cycle includes thick sedimentary sequences covering Paleozoic and Mesozoic formations in the Algarve and Alvalade-Melides regions and it extends as far north as Santarém in the Lower Tagus Basin. Mainly controlled by global eustasy, it was generated by the important positive eustatic trend that characterized the Middle Miocene worldwide to which the Portuguese continental margin acted more or less passively. This cycle ended with a second and the most important compression event starting after the end of the Serravallian affecting the entire Portuguese onshore and shelf areas. This led to an important depositional hiatus of marine sediments for more than 2.5 Ma. During the Early and the Middle Tortonian occurred the clockwise rotation of the Guadalquivir Basin. The thickmarine units deposited afterwards in this basin produced a litostatic load, which seems to have induced subsidence farther west resuming the Neogene marine sedimentation in the Cacela region (Eastern Algarve), during the Late Tortonian. This marks the beginning of the III Neogene Cycle. To the north, in the Sado Basin (Alvalade-Melides region), a similar depositional sequence starts its sedimentation during the Messinian. Further north, in the Pombal-Caldas da Rainha region, marine sedimentation started during the Late Pliocene (Piacenzian). The migration in time, from south to north for the beginning of the marine sedimentation of this cycle is interpreted as reflecting a visco-elastic propagation of the deformation from the Betic chain northwards.

The Cenomanian-Turonian transition in West Central Portugal: ammonites and biostratigraphy

The Upper Cenomanian and Lower Turonian ammonite assemblages from the onshore sectors of the West Portuguese Margin are reviewed after new studies on the type section of Figueira da Foz, and correlative sections of Baixo Mondego. The faunal succession shows a strong contribution of vascoceratids and other ammonites with North African and Tethyan affinities. Euomphaloceras septemseriatum (Cragin, 1893), Kamerunoceras douvillei (Pervinquere, 1907), Fagesia catinus (Mantell, 1822), Neoptychites cephalotus (Courtiller, 1860), and Thomasites rollandi (Thomas & Peron, 1889) are for the first time mentioned to Portugal. The Upper Cenomanian is recognised after a set of 3 assemblage zones: Neolobites vibrayeanus z., Euomphaloceras septemseriatum z ., and Pseudaspidoceras pseudonodosoides z. The carbonate succession shows an important unconformity across the Cenomanian-Turonian boundary, associated to subaerial exposure, and to the development of a palaeokarst over Upper Cenomanian units. The first Lower Turonian carbonates are yielded a single but diverse ammonite assemblage of middle Lower Turonian age (Thomasites rollandi z.). This biozone was previously recognised in Central Tunisia by G. Chancellor et al. (1994).

Interpretação tectónica de um conjunto de lineamentos WNW-ESE observados em imagens landsat da margem oeste ibérica

The existence of satellite images ofthe West Iberian Margin allowed comparative study of images as a tool applied to structural geology. Interpretation of LANDSAT images of the Lusitanian Basin domain showed the existence of a not previously described WNW-ESE trending set oflineaments. These lineaments are persistent and only observable on small scale images (e.g. approx. 11200000 and 11500 000) with various radiometric characteristics. They are approximately 20 km long, trend l200±15° and cross cut any other families oflineaments. The fact that these lineaments are perpendicular to the Quaternary thrusts of the Lower Tagus Valley and also because they show no off-set across them, suggests that they resulted from intersection oflarge tensile fractures on the earth's surface. It is proposed in this work that these lineaments formed on a crustal flexure of tens ofkm long, associated with the Quaternary WNW-ESE oriented maximum compressive stress on the West Iberian Margin. The maximum compressive stress rotated anticlockwise from a NW -SE orientation to approximately WNW-ESE, from Late Miocene to Quaternary times (RIBEIRO et aI., 1996). Field inspection of the lineaments revealed zones of norm~1.J. faulting and cataclasis, which are coincident with the lineaments and affect sediments of upper Miocene up to Quaternary age. These deformation structures show localized extension perpendicular to the lineaments, i.e. perpendicular to the maximum compressive direction, after recent stress data along the West Portuguese Margin (CABRAL & RIBEIRO, 1989; RIBEIRO et at., 1996). Also, on a first approach, the geographical distribution of these lineaments correlates well with earthquake epicenters and areas of largest Quaternary Vertical Movements within the inverted Lusitanian Basin (CABRAL, 1995).

Life-cycle performance of structures: combining expert judgment and results of inspection

Life-Cycle Civil Engineering – Biondini & Frangopol

Modelling of the kinetics of municipal solid waste composting in full-scale mechanical-biological treatment plants

A thesis submitted in fulfilment of the requirements for the Degree of Doctor of Philosophy in Sanitary Engineering in the Faculty of Sciences and Technology of the New University of Lisbon

Collateral, default penalties and infinite horizon equilibrium

Pascoa and Seghir (2009) noticed that when collateralized promises become subject to utility penalties on default, Ponzi schemes may occur. However, equilibrium exists in some interesting cases. Under low penalties, equilibrium exists if the collateral does not yield utility (for example, when it is a productive asset or a security). Equilibrium exists also under more severe penalties and collateral utility gains, when the promise or the collateral are nominal assets and the margin requirements are endogenous: relative inflation rates and margin coefficients can make the income effects dominate the penalty effects. An equilibrium refinement avoids no-trade equilibria with unduly repayment beliefs. Our refinement differs from the one used by Dubey, Geanakoplos and Shubik (2005) as it does not eliminate no trade equilibria whose low delivery rates are consistent with the propensity to default of agents that are on the verge of selling.

Technological adoption in health care

This paper addresses the impact of payment systems on the rate of technology adoption. We present a model where technological shift is driven by demand uncertainty, increased patients’ benefit, financial variables, and the reimbursement system to providers. Two payment systems are studied: cost reimbursement and (two variants of) DRG. According to the system considered, adoption occurs either when patients’ benefits are large enough or when the differential reimbursement across technologies offsets the cost of adoption. Cost reimbursement leads to higher adoption of the new technology if the rate of reimbursement is high relative to the margin of new vs. old technology reimbursement under DRG. Having larger patient benefits favors more adoption under the cost reimbursement payment system, provided that adoption occurs initially under both payment systems.

Operating profitability in branded pharmaceutical firms

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Business model analysis of Mobitto: How to solve the chicken and egg problem of a multi-sided platform?

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Management from the NOVA – School of Business and Economics

Structured products in the current low interest rate environment

Directed Research Internship

Essays on bounded rationality: Individual decision and strategic interaction

Economics is a social science which, therefore, focuses on people and on the decisions they make, be it in an individual context, or in group situations. It studies human choices, in face of needs to be fulfilled, and a limited amount of resources to fulfill them. For a long time, there was a convergence between the normative and positive views of human behavior, in that the ideal and predicted decisions of agents in economic models were entangled in one single concept. That is, it was assumed that the best that could be done in each situation was exactly the choice that would prevail. Or, at least, that the facts that economics needed to explain could be understood in the light of models in which individual agents act as if they are able to make ideal decisions. However, in the last decades, the complexity of the environment in which economic decisions are made and the limits on the ability of agents to deal with it have been recognized, and incorporated into models of decision making in what came to be known as the bounded rationality paradigm. This was triggered by the incapacity of the unboundedly rationality paradigm to explain observed phenomena and behavior. This thesis contributes to the literature in three different ways. Chapter 1 is a survey on bounded rationality, which gathers and organizes the contributions to the field since Simon (1955) first recognized the necessity to account for the limits on human rationality. The focus of the survey is on theoretical work rather than the experimental literature which presents evidence of actual behavior that differs from what classic rationality predicts. The general framework is as follows. Given a set of exogenous variables, the economic agent needs to choose an element from the choice set that is avail- able to him, in order to optimize the expected value of an objective function (assuming his preferences are representable by such a function). If this problem is too complex for the agent to deal with, one or more of its elements is simplified. Each bounded rationality theory is categorized according to the most relevant element it simplifes. Chapter 2 proposes a novel theory of bounded rationality. Much in the same fashion as Conlisk (1980) and Gabaix (2014), we assume that thinking is costly in the sense that agents have to pay a cost for performing mental operations. In our model, if they choose not to think, such cost is avoided, but they are left with a single alternative, labeled the default choice. We exemplify the idea with a very simple model of consumer choice and identify the concept of isofin curves, i.e., sets of default choices which generate the same utility net of thinking cost. Then, we apply the idea to a linear symmetric Cournot duopoly, in which the default choice can be interpreted as the most natural quantity to be produced in the market. We find that, as the thinking cost increases, the number of firms thinking in equilibrium decreases. More interestingly, for intermediate levels of thinking cost, an equilibrium in which one of the firms chooses the default quantity and the other best responds to it exists, generating asymmetric choices in a symmetric model. Our model is able to explain well-known regularities identified in the Cournot experimental literature, such as the adoption of different strategies by players (Huck et al. , 1999), the inter temporal rigidity of choices (Bosch-Dom enech & Vriend, 2003) and the dispersion of quantities in the context of di cult decision making (Bosch-Dom enech & Vriend, 2003). Chapter 3 applies a model of bounded rationality in a game-theoretic set- ting to the well-known turnout paradox in large elections, pivotal probabilities vanish very quickly and no one should vote, in sharp contrast with the ob- served high levels of turnout. Inspired by the concept of rhizomatic thinking, introduced by Bravo-Furtado & Côrte-Real (2009a), we assume that each per- son is self-delusional in the sense that, when making a decision, she believes that a fraction of the people who support the same party decides alike, even if no communication is established between them. This kind of belief simplifies the decision of the agent, as it reduces the number of players he believes to be playing against { it is thus a bounded rationality approach. Studying a two-party first-past-the-post election with a continuum of self-delusional agents, we show that the turnout rate is positive in all the possible equilibria, and that it can be as high as 100%. The game displays multiple equilibria, at least one of which entails a victory of the bigger party. The smaller one may also win, provided its relative size is not too small; more self-delusional voters in the minority party decreases this threshold size. Our model is able to explain some empirical facts, such as the possibility that a close election leads to low turnout (Geys, 2006), a lower margin of victory when turnout is higher (Geys, 2006) and high turnout rates favoring the minority (Bernhagen & Marsh, 1997).

The burden of chronic low back pain in the adult Portuguese population : an epidemiological population-based study under the scope of Epireumapt

RESUMO: Nos países desenvolvidos a lombalgia é a condição músculo-­‐esquelética mais prevalente. Quando evolui para um quadro crónico é responsável por um encargo económico bastante considerável, não só em relação aos indivíduos, mas também para a sociedade. A lombalgia crónica é por isso uma das principais causas de perda de produtividade e de perda de independência económica, nomeadamente através do absenteísmo (ausência do trabalho), do presenteísmo (perda de produtividade no trabalho, devido à capacidade diminuída provocada pela lombalgia) e da incapacidade para trabalhar (invalidez permanente, total ou parcial). Até à data, em Portugal, a prevalência e carga social da lombalgia crónica eram desconhecidas. Até agora não existiam estudos populacionais de grande dimensão sobre este tema. O objetivo principal desta tese foi determinar a prevalência de lombalgia crónica, e também avaliar a carga social que esta tem na população adulta Portuguesa. O trabalho de investigação foi desenvolvido no âmbito do Estudo Epidemiológico de Doenças Reumáticas em Portugal (EpiReumaPt). Este foi o primeiro estudo de larga escala e de base populacional, que determinou a prevalência de doenças reumáticas e músculo-­‐ esqueléticas na população adulta portuguesa. Foi realizado numa amostra aleatória e representativa, de 10.661 indivíduos do Continente, da Região Autónoma dos Açores e da Região Autónoma da Madeira, entre Setembro de 2011 e Dezembro de 2013. Esta tese foi dividida em duas secções. A primeira secção incluiu o detalhe das questões relativas ao desenvolvimento e gestão do EpiReumaPt, constituindo-­‐se como um guia prático sobre como realizar um estudo de base populacional de larga escala, em Portugal. A metodologia detalhada do EpiReumaPt foi também descrita nesta secção e incluiu os objectivos, o desenho do estudo, as características de recrutamento e a preparação de dados para análise. Nesta secção foram ainda descritos os principais resultados do EpiReumaPt. Estes evidenciaram que a lombalgia foi a condição músculo-­‐esquelética com maior prevalência na população adulta portuguesa.A segunda secção desta tese estimou a prevalência da lombalgia crónica ativa na população adulta Portuguesa, e avaliou a carga social esta condição. A lombalgia ativa foi definida com base na dor auto-­‐relatada no dia da entrevista e que persistia há pelo menos 90 dias (independentemente da causa). A lombalgia foi definida como dor na área definida entre a margem inferior das décimas segundas costelas até às pregas glúteas inferiores, com ou sem dor nos membros inferiores. A carga social foi medida tendo em conta os seguintes parâmetros: qualidade de vida, função, consumo de recursos de saúde, consumo de analgésicos e outros fármacos usados no alívio da dor, sintomas de ansiedade e sintomas de depressão. Os resultados mostraram que o consumo de recursos em saúde e a carga social da lombalgia crónica na população adulta Português é significativa. Também a incapacidade causada pela lombalgia crónica,nos indivíduos com idade ativa, é responsável por elevadas taxas de absenteísmo e má qualidade de vida, aos quais acresce o consequente ónus socioeconómico. Esta tese também concluiu que o consumo de analgésicos e outros medicamentos para alívio da dor, na população adulta portuguesa com lombalgia crónica ativa, é relativamente baixa. A maioria destes indivíduos não tomava nenhum medicamento analgésico, independentemente da intensidade da dor. Mesmo os indivíduos que reportaram dor intensa, apenas 4.0% estavam no primeiro degrau da escada analgésica da Organização Mundial de Saúde; 2.3% usavam opióides fracos e 0.03% usavam opióides fortes para controlar a dor (segundo e terceiro degrau da escada analgésica da Organização Mundial da Saúde). O trabalho de investigação também confirmou que a prevalência de sintomas de ansiedade e depressão entre os indivíduos adultos portugueses com lombalgia crónica ativa é elevada. Nestes indivíduos, registou-­‐se um consumo mais elevado de analgésicos e outros medicamentos para alívio da dor, quando comparados com os indivíduos com lombalgia crónica activa sem esses sintomas psicológicos. Os grupos terapêuticos mais utilizados foram os ansiolíticos, sedativos e hipnóticos, os antidepressivos e os anti-­‐inflamatórios não esteróides. A intensidade média da dor reportada foi também maior entre os indivíduos com lombalgia ativa e sintomas de ansiedade e/ou depressão. Também nestes, foi reportada pior função e pior estado de saúde. Em relação ao consumo de recursos de saúde foram encontradas diferenças significativas entre as duas populações: os indivíduos com lombalgia ativa e sintomas psicológicos concomitantes registaram maior número de consultas de psiquiatria de outras especialidades médicas, assim como precisaram de mais apoio domiciliário nos 12 meses prévios à entrevista do EpiReumaPt. Foram também identificados os fatores associados a sintomas isolados de ansiedade, a sintomas isolados de depressão e a sintomas de ansiedade e depressão. Resumindo,esta tese permitiu concluir que a lombalgia crónica é um problema de saúde comum na população adulta portuguesa, contribuindo para um elevado grau de incapacidade e que consequentemente afeta o desempenho laboral e o bem-­‐estar dos indivíduos. A lombalgia crónica é também responsável por um consumo considerável de recursos de saúde. Acresce ainda que os sintomas de ansiedade e depressão são comuns, entre os indivíduos com lombalgia crónica, contribuindo com uma carga social adicional.---------------------------------- ABSTRACT:Low Back Pain(LBP) is the most prevalent of musculoskeletal condition in developed countries.When it becomes chronic, LBP causesan enormous economic burden on individuals and society -­‐ it is one of the leading causes of loss of productivity and economic independence through absenteeism (time off work), presenteeism (lost productivity because of diminished capacity while at work) and work disability (permanent, partial or complete disablement for work purposes). In Portugal the prevalence and burden of LBP and chronic LBP (CLBP) were poorly defined. Until now no large population-­‐based studies have focused on this. The main aim of this thesis was to determine the prevalence of LBP and CLBP, and also to assess the burden of CLBP in the adult rtuguese population. The research work was developed under the scope of EpiReumaPt (the Portuguese Epidemiologic Study of Rheumatic Diseases). EpiReumaPt was the first national large population-­‐based and prevalence study of rheumatic and musculoskeletal diseases (RMD). It was performed among a randomized and representative sample of 10,661 adult Portuguese subjects recruited in Mainland, Azores and Madeira Islands, from September 2011 to December 2013. The first section of this thesis included detailed issues regarding the development and management of EpiReumaPt, and provided a practical guide on how to set-­‐up a large population-­‐based study in Portugal. The detailed methodology of EpiReumaPt, including its objectives,study design,recruitment features,and data preparation for analyses were also described. The main results from EpiReumaPt study were provided in this section and showed that LBP was the musculoskeletal condition with highest prevalence among Portuguese population. The second section of this thesis estimated the prevalence of active CLBP among adult Portuguese population, and assessed the social burden of this condition. Active CLBP was defined based on self-­‐reported pain on the day of the interview, and for most of the time for at least 90 days (independently from cause). LBP was defined as pain in the back area from the lower margin of the twelfth ribs to he lower gluteal folds, with or without pain referred to the lower limbs. Social burden was measured taking into account the following outcomes: quality of life, function, healthcare resources consumption, analgesic and other pain relief drugs intake, anxiety and depression symptoms. Results showed that the healthcare consumption and social burden of CLBP among adult Portuguese population were enormous, and the disability caused by CLBP among subjects in a working age provides high rates of absenteeism (work loss) and poor quality of life, with a consequent socioeconomic burden. This thesis also concluded that analgesic and other pain relief drugs untake among adult Portuguese population with active CLBP was very low. Most of the subjects with active CLBP did not take any analgesic drug regardless pain severity. Even when subjects self-­‐reported severe pain, only 24.0% were in the 1st step of the analgesic ladder,2.3% used weak analgesic opioids and 0.03% used strong opioids (2nd and 3rd step of WHO analgesic ladder, respectively) to control pain . The research work also confirmed that the prevalence of anxiety and depression symptoms among adult Portuguese subjects with active CLBP was high. Regarding pharmacological therapy, the intake of analgesic and other pain relief drugs was higher among subjects with anxiety and/or depression symptoms, when compared with subjects without these psychological symptoms. Anxiolytics, sedatives and hypnotics, antidepressants and NSAIDs intake had higher usage rates among these subjects. The pain severity mean was also higher among this subjects and function and health status was worse. Regarding healthcare resources consumption,significant differences between the two populations were found. Subjects with ctive CLBP and concomitant psychological symptoms had a higher number of psychiatrist and other physician visits. They also needed more home care in the previous 12 months. Factors associated with isolated symptoms of anxiety, depression,and concomitant anxiety and depression symptoms were also identified. Summarizing, we concluded that CLBP is a common health problem among adult Portuguese population contributing to disability and affecting labor performance, and the well being of subjects. it is also responsible for considerable healthcare resource consumption. Anxiety and depression symptoms are common among subjects with CLBP and provided an additional burden among them.

Comparative analysis of Spanish Banks’ Standalone credit profile

The paper studies the relationship between four differently rated bank’s financial profile and their standalone credit rating issued by Moody’s. The comparative analysis shows an example that despite their pricing power and geographical coverage, larger banks do not necessarily have better credit ratings. Instead, business model and risk appetite seem to be the defining factors of banks’ vulnerability to shocks, such as the Spanish real estate crisis. The risk-return relationship is also identified in the banks’ fundamentals meaning that while expansionary strategy in riskier asset classes enhances margins, it also potentially distorts the credit risk profile.