Thermal shock – and its perfect imperfections

Dissertação de Mestrado em Arte e Ciência do Vidro

Hedging in a discontinuous market: the barrier option

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

Dynamic delta hedging of autocallables under a discrete rebalancing context

This work tests different delta hedging strategies for two products issued by Banco de Investimento Global in 2012. The work studies the behaviour of the delta and gamma of autocallables and their impact on the results when delta hedging with different rebalancing periods. Given its discontinuous payoff and path dependency, it is suggested the hedging portfolio is rebalanced on a daily basis to better follow market changes. Moreover, a mixed strategy is analysed where time to maturity is used as a criterion to change the rebalancing frequency.

The perfect paint in modern art conservation: a comparative study of 21st century vinyl emulsions

Contemporary painting places, and will continue to place, several questions about its meaning, its chemical nature, its durability and the best way to preserve it. This research aims at putting together comprehensive data on vinyl based paints, including their components, their properties, their aging behavior and their response to selected cleaning products. In this project degradation mechanisms of vinyl binders and formulations used in the 20th and 21st century were studied. Stability over time of selected vinyl polymers was assessed through natural indoor and artificially aging. The objective was to enhance knowledge and understanding of vinyl emulsion formulations and their performance over time. Overall conservation state of pictorial layers namely, adhesion, cohesion and discoloration of selected case studies from the Portuguese artist Julião Sarmento (b.1948) was correlated with the observed molecular level changes studied in laboratory experiments. Sarmento’s paintings were chosen due to conservation concerns (discoloration) on some of his works from the 90’s. Besides, research was carried out to start increasing the knowledge of what can be expected of PVAc based paints in terms of response to conservation treatments namely, surface cleaning. Artificial aging showed that the most recent formulations which are based on a poly(vinyl acetate), poly(vinyl chloride) and polyethylene terpolymer are less stable when compared to some homopolymer formulations. From the four pigments studied, titanium dioxide rutile and a carbon based black proved to be stabilizers for both types of polymer. The mixture lithopone plus calcium carbonate has showed to have a photocatalytic effect on the binders. The studied paintings showed to be in an overall good state of conservation except for the paintings created in the 90’s with white glue and a mixture of white lithoponeand calcium carbonate. Discoloration of this white paint seems to be irreversible and ongoing and is still a major concern. The disapearance of the plasticizer was the only change detected. The current works created by Sarmento are expected to be more stable as they were painted using the rutile titanium dioxide. Immersion/cleaning tests showed that vinyl based paints can be susceptible to water and organic solvents like ethanol as some evidences point to the removal/diffusion of additives from the paint. The observations made point to the need to further proceed in this research field.

Impact of Black-Scholes assumptions on Delta Hedging

In this work we are going to evaluate the different assumptions used in the Black- Scholes-Merton pricing model, namely log-normality of returns, continuous interest rates, inexistence of dividends and transaction costs, and the consequences of using them to hedge different options in real markets, where they often fail to verify. We are going to conduct a series of tests in simulated underlying price series, where alternatively each assumption will be violated and every option delta hedging profit and loss analysed. Ultimately we will monitor how the aggressiveness of an option payoff causes its hedging to be more vulnerable to profit and loss variations, caused by the referred assumptions.

Fouling of a drinking water system in relation to hydraulic circumstances and customer complaints

In a “perfect” drinking water system, the water quality for the consumers should be the same as the quality of the water leaving the treatment plant. However, some variability along the system can lead to a decrease in water quality (such as discolouration) which is usually reflected in the number of the customer complaints. This change may be related to the amount of sediment in the distribution network, leading to an increase in turbidity at the water supply. Since there is no such thing as a perfect drinking water system, the behaviour of particles in a drinking water network needs a suitable approach in order to understand how it works. Moreover, the combination of measurements, such as turbidity patterns and the Resuspension Potential Method (RPM) aid in the prevention of discoloured water complaints and intervention in the treatment upgrade or the network cleaning. Besides sediments there is also bacterial regrowth in the network, which is related to the water quality and distribution network characteristics. In a theoretical drinking water system higher velocities, temperature and shorter residences times lead to wider bacterial growth. In this study we observe velocity and residence steady-states and bacterial does not seem to be related to either. It can be concluded that adequate measurements of RPM, customer complaints and bacterial concentrations allow a wider knowledge on particle behaviour in drinking water systems.

Auxiliary mechanisms for telerobotics

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para obtenção do grau de Mestre em Engenharia Electrotécnica e de Computadores

Spatial operators for collaborative map handling

MSC Dissertation in Computer Engineering

Learning with tangible interfaces

Trabalho apresentado no âmbito do Mestrado em Engenharia Informática, como requisito parcial para obtenção do grau de Mestre em Engenharia Informática

Cultural innovation and transmission of tool use in wild chimpanzees:evidence from field experiments

Animal Cognition, V.6, pp. 213-223

Automated illustration of multimedia stories

Submitted in part fulfillment of the requirements for the degree of Master in Computer Science

Henri Tintant face au problème "Science et Foi"

From an early age Henri Tintant was conforted with the problematic relationships between Science and Faith. After a traditional religious education, he took responsabilities within groups of teenagers and adults through scouting and the J. E. C. (an organisation of catholic students). In 1940 he was at Montpellier distributing unauthorised leaflets defending religious faith. But more significant is his intellectual contribution. He was an active and inspiring member of several workshops and in one in particumar initiated by the Catholic University of Lyon entitled : "From Naturalist to Theologians" where he would start a very fruitful and compelling intellectual collaboration with Father Gustave Martelet a jesuit theologian and a strong supporter of a permanent dialog with the scientists. Throughout the years they will gradually come to the conclusion of a necessary synergy between the scientific and the theologic approach when dealing with the mystery of religious faith . Even in the last months of his life, Henri Tintant was writing to his friendon the subject, with the same profound religious faith that brought him the serenity and the open mindness he has showed throughout his teaching and scientific career. His legacy will remain in two of his last thoughts: "Almost 50 years of scientific research have brought me a lot of pleausures and satisfactions but no answer to the essential questions. In my personal case, science and researching have not driven me away from my religious faith, on the contrary the helped me in my awareness of its utmost necessity". "Faithful to my religious belief, I am convinced that with the death, the inevitable human destiny, not everything disapears completely but another form of live, unimaginable for our limited minds, emerges, bearing in itself the perfect realization of all our hopes and desires".

Electron driven reactions in complexes embedded in superfluid helium droplets

A thesis submitted to the University of Innsbruck for the doctor degree in Natural Sciences, Physics and New University of Lisbon for the doctor degree in Physics, Atomic and Molecular Physics

Time – intangible tangible –

Dissertação para obtenção do Grau de Mestre em Arte e Ciência do Vidro

Cluster Turismo Sustentável em Áreas Protegidas: o caso do Alente

Local Tourist Systems (LTS) can be analyzed according to an investigation structure that derives from industrial economics on industrial districts, local productive systems or learning regions. LTS concept is a useful analytical tool that can seize the resorts diversity and organization. Resorts can be conceived both as clusters or industrial districts, either with a perfect agreement between productive sphere and local community or a mere industrial juxtaposition without any economic or social connection. On the other hand tourist clusters analysis has cross referred almost exclusively to socio-economic criteria. Environmental issues were almost disregarded. Approaches swing from the “greening” of products and practices to initiatives focused on an integrated approach, linking environment and tourist development. This paper tries to discuss how to favor – inside a tourist destination - the creation of clusters grounded on sustainable tourism. The case studies (the 5 Alentejo Natural Reserves: Estuário do Sado; Lagoas de Santo André e da Sancha; Vale do Guadiana; Sudoeste Alentejano e Costa Vicentina; Serra de S. Mamede) are analyzed under the light of how microstructures groups can allow a territorial sustainable tourist development. The issues of “resources and competences” and “governance” ar