The knapsack problem approach in solving partial hedging problems of options

En option är ett finansiellt kontrakt som ger dess innehavare en rättighet (men medför ingen skyldighet) att sälja eller köpa någonting (till exempel en aktie) till eller från säljaren av optionen till ett visst pris vid en bestämd tidpunkt i framtiden. Den som säljer optionen binder sig till att gå med på denna framtida transaktion ifall optionsinnehavaren längre fram bestämmer sig för att inlösa optionen. Säljaren av optionen åtar sig alltså en risk av att den framtida transaktion som optionsinnehavaren kan tvinga honom att göra visar sig vara ofördelaktig för honom. Frågan om hur säljaren kan skydda sig mot denna risk leder till intressanta optimeringsproblem, där målet är att hitta en optimal skyddsstrategi under vissa givna villkor. Sådana optimeringsproblem har studerats mycket inom finansiell matematik. Avhandlingen "The knapsack problem approach in solving partial hedging problems of options" inför en ytterligare synpunkt till denna diskussion: I en relativt enkel (ändlig och komplett) marknadsmodell kan nämligen vissa partiella skyddsproblem beskrivas som så kallade kappsäcksproblem. De sistnämnda är välkända inom en gren av matematik som heter operationsanalys. I avhandlingen visas hur skyddsproblem som tidigare lösts på andra sätt kan alternativt lösas med hjälp av metoder som utvecklats för kappsäcksproblem. Förfarandet tillämpas även på helt nya skyddsproblem i samband med så kallade amerikanska optioner.

Chelyabinsk CHP-3 “locked power” problem solving

All over the world power systems become bigger and bigger every day. New equipment is installed, new feeders are constructed, new power units are installed. Some old elements of the network, however, are not changed in time. As a result, “bottlenecks” for capacity transmission can occur. By locked power problem the situation when a power plant has installed capacity exceeding the power it can actually deliver is usually meant. Regime, scheme or even technical restrictions-related issues usually cause this kind of problem. It is really important, since from the regime point of view it is typical decision to have a mobile capacity reserve, in case of malfunctions. And, what can be even more significant, power plant owner (JSC Fortum in our case) losses his money because of selling less electrical energy. The goal of master`s thesis is to analyze the current state of Chelyabinsk power system and the CHP-3 (Combined Heat and Power plant) in particular in relation with it`s ability to deliver the whole capacity of the CHP in it`s existing state and also taking into consideration the prospect of power unit 3 installation by the fourth quarter of 2010. The thesis contains some general information about the UPS of Russia, CPS of Ural, power system of Chelyabinsk and the Chelyabinsk region itself. Then the CHP-3 is described from technical point of view with it`s equipment observation. Regimes for the nowadays power system and for the system after the power unit 3 installation are reviewed. The problems occurring are described and, finally, a solution is offered.

Development of racemization catalysts for dynamic kinetic resolution

Preparation of optically active compounds is of high importance in modern medicinal chemistry. Despite recent advances in the field of asymmetric synthesis, resolution of racemates still remains the most utilized way for preparation of single enantiomers in industrial scale due to its cost-efficiency and simplicity. Enzymatic kinetic resolution (KR) of racemates is a classical method for separation of enantiomers. One of its drawbacks is the limitation of target enantiomer yield to 50%. Dynamic Kinetic Resolution (DKR) allows to reach yields up to 100% by in situ racemization of the less reactive enantiomer. In the first part of this thesis, a number of half-sandwich ruthenium complexes were prepared and evaluated as catalysts for racemization of optically active secondary alcohols. A leading catalyst, Bn5CpRu(CO)2Cl, was identified. The catalyst discovered was extensively characterized by its application for DKR of a broad range of secondary alcohols in a wide range of reaction loadings (1 mmol – 1 mol). Cost-efficient chromatography-free procedure for preparation of this catalyst was developed. Further, detailed kinetic and mechanistic studies of the racemization reactions were performed. Comparison of racemization rates in the presence of Bn5CpRu(CO)2Cl and Ph5CpRu(CO)2Cl catalysts reveals that the performance of the catalytic system can be adjusted by matching of the electronic properties of the catalysts and the substrates. Moreover, dependence of the rate-limiting step from the electronic properties of the reagents was observed. Important conclusions about reaction mechanism were made. Finally, an alternative approach to DKR of amines based on space separated vessels was addressed. This procedure allows the combination of thermolabile enzyme with racemization catalysts active only at high temperatures.

“THE PATIENT SURVIVED DESPITE THE TREATMENT”. A study of Finnish health policy and New Public Management. Case: The Government Resolution on the Health 2015 public health programme.

Internationally, Finland has been among the most respected countries during several decades in terms of public health. WHO has had the most significant influence on Finnish health policy and the relationship has traditionally been warm. However, the situation has slightly changed in the last 10-20 years. The objectives of Finnish national health policy have been to secure the best possible health for the population and to minimize disparities in health between different population groups. Nevertheless, although the state of public health and welfare has steadily improved, the socioeconomic disparities in health have increased. This qualitative case study will demonstrate why health is political and why health matters. It will also present some recommendations for research topics and administrative reforms. It will be argued that lack of political interest in health policy leads to absence of health policy visions and political commitment, which can be disastrous for public health. This study will investigate how Finnish health policy is defined and organised, and it will also shed light on Finnish health policy formation processes and actors. Health policy is understood as a broader societal construct covering the domains of different ministries, not just Ministry of Social Affairs and Health (MSAH). The influences of economic recession of the 1990s, state subsidy reform in 1993, globalisation and the European Union will be addressed, as well. There is not much earlier Finnish research done on health policy from political science viewpoint. Therefore, this study is interdisciplinary and combines political science with administrative science, contemporary history and health policy research with a hint of epidemiology. As a method, literature review, semi-structured interviews and policy analysi will be utilised. Institutionalism, policy transfer, and corporatism are understood as the theoretical framework. According to the study, there are two health policies in Finland: the official health policy and health policy generated by industry, media and various interest organisations. The complex relationships between the Government and municipalities, and on the other hand, the MSAH and National Institute for Health and Welfare (THL) seemed significant in terms of Finnish health policy coordination. The study also showed that the Investigated case, Health 2015, does not fulfil all necessary criteria for a successful public health programme. There were also several features both in Health 2015 and Finnish health policy, which can be interpreted in NPM framework and seen having NPM influences.

Circular Spectropolarimetric Studies of DQ White Dwarfs

This thesis summarizes studies of a class of white dwarfs (WDs) called DQ WDs. White dwarfs are the remnants of ordinary stars like our Sun that have run out of nuclear fuel. WDs are classified according to the composition of their atmosphere and DQ WDs have an atmosphere made of helium and carbon. The carbon comes in either atomic or molecular form and in some cases the strong spectral absorption features cover the entire optical wavelength region. The research presented here utilizes spectropolarimetry, which is an observational technique that combines spectroscopy and polarization. Separately these allow to study the composition of a target and the inhomogeneous distribution of matter in the target. Put together they form a powerful tool to probe the physical properties in the atmosphere of a star. It is espacially good for detecting magnetic fields. The papers in this thesis describe efforts to do a survey of DQ white dwarfs with spectropolarimetry in order to search for magnetic fields in them. Paper I describes the discovery of a new magnetic cool DQ white dwarf, GJ841B. Initial modeling of molecular features on DQ WDs showed inconsistencies with observations. The first possible solution to this problem was stellar spots on these WDs. To investigate the matter, two DQ WDs were monitored for photometric variability that could arise from the presence of such spots. Paper II summarizes this short campaign and reports the negative results. Paper III reports observations of the rest of the objects in our survey. The paper includes the discovery of polarization from another cool DQ white dwarf, bringing the total of known magnetic cool DQs to three. Unfortunately the model used in this thesis cannot, in its present state, be used to model these objects nor are the observations of high enough spectroscopic resolution to do so.

Adaptation of TRIZ Method for Problem Solving in Process Engineering

TRIZ is one of the well-known tools, based on analytical methods for creative problem solving. This thesis suggests adapted version of contradiction matrix, a powerful tool of TRIZ and few principles based on concept of original TRIZ. It is believed that the proposed version would aid in problem solving, especially those encountered in chemical process industries with unit operations. In addition, this thesis would help fresh process engineers to recognize importance of various available methods for creative problem solving and learn TRIZ method of creative problem solving. This thesis work mainly provides idea on how to modify TRIZ based method according to ones requirements to fit in particular niche area and solve problems efficiently in creative way. Here in this case, the contradiction matrix developed is based on review of common problems encountered in chemical process industry, particularly in unit operations and resolutions are based on approaches used in past to handle those issues.

Some reformulations for the quadratic assignment problem

Kombinatorisk optimering handlar om att hitta en bra eller rent av den bästa möjliga lösningen från ett känt antal lösningar eller kombinationer. Ofta är antalet lösningar så enormt att en genomgång av alla olika lösningar inte är möjlig. En av huvudorsakerna till att det forskas inom kombinatorisk optimering är att liknande frågeställningar eller problem uppkommer inom så många olika områden. Påståendet stämmer speciellt bra för kvadratiska tilldelningsproblem(eng. Quadratic Assignment Problem). Sådana problem uppstår då man försöker beskriva en stor mängd tillämpade frågeställningar. Vilken gate skall väljas för flygen på större flygplatser för att minimera den totala väg människorna behöver gå och bagaget förflyttas? Var skall olika avdelningar på en fabrik placeras för att minimera materialförflyttningar mellan avdelningarna? Hur ser ett optimalt tangentbord ut för olika språk? Var skall komponenterna placeras på ett kretskort? De här är alla frågor som kan besvaras genom att lösa kvadratiska tilldelningsproblem. Kvadratiska tilldelningsproblem är dock mycket svåra att lösa. Det beror på att problemet i den standardform det matematiskt formuleras i huvudsak består av produkter av binära variabler. I denna avhandling har problemet omformulerats till en linjär diskret form som innehåller färre variabler. Med omformuleringen har bland annat flera tidigare olösta kvadratiska tilldelningsproblem kunnat lösas till globalt optimum, den bästa möjliga lösningen, för första gången någonsin.

Mannen som objekt och problem : Heikki Waris och betydelsen av kön i vetenskaplig socialpolitik, ca 1930-1970

I avhandlingen analyseras betydelsen av kön i den vetenskapliga socialpolitiken vid 1900-talets mitt, i synnerhet med fokus på Heikki Waris (1901–1989) produktion. Waris var Finlands första professor i socialpolitik, som efter andra världskriget etablerades som ett akademiskt ämne vid de finländska universiteten, och Waris blev känd som en av tidens främsta auktoriteter på den finländska socialpolitiken. Vid en tid då välfärdsstaten etablerades och samhället genomgick en snabb moderniseringsprocess, fokuserade den socialpolitiska forskningen på problem och frågor som främst ansågs beröra den manliga delen av befolkningen, såsom alkoholkonsumtion och relationer inom det industriella arbetet. Detta trots att de nordiska staterna senare skulle bli kända som så kallade kvinnovänliga välfärdsstater, där frågor om kvinnors position och jämställdhet beaktades. I avhandlingen belyses hur de texter Waris skrev, samt den forskning som han initierade, skapade ideal baserade på sundhet, ekonomiskt ansvarstagande, aktivitet och medvetenhet samt hur dessa ideal var kopplade till män och manlighet. Förutom att visa hur ideal konstruerades, studeras även de olika formerna och funktionerna av kön i den socialpolitiska litteraturen. Behandlades kön endast som demografisk kategori eller fanns det ett djupare intresse för mäns och kvinnors positioner och roller? Vilka förhållanden ville Waris och de andra socialpolitikerna belysa med att lyfta fram frågor om kön i sina texter? Waris var även en auktoritet på den snabba moderniseringsprocess som Finland hade genomgått sedan industrialiseringen vid 1800-talets slut. I avhandlingen argumenteras för att män och kvinnor på varierande sätt blev symboler för samhällelig förändring. ------------------------ Väitöskirjassa tutkitaan sukupuolen merkitystä sosiaalipolitiikan tutkimuksessa 1900-luvun puolivälissä. Lähtökohtana on Heikki Wariksen (1901–1989) tieteellinen tuotanto. Waris toimi Suomen ensimmäisenä sosiaalipolitiikan professorina ja kehitti sosiaalipolitiikkaa akateemisena aiheena Suomessa toisen maailmansodan jälkeen. Waris tunnettiin yhtenä aikansa merkittävimpänä suomalaisen sosiaalipolitiikan asiantuntijana. Hyvinvointivaltion rakentumisaikana sosiaalipolitiikan tutkimus keskittyi miehiin liittyviin ongelmiin ja kysymyksiin, kuten alkoholin kulutukseen. Väitöskirjassa osoitetaan miten Wariksen teksteissä, ja Wariksen ohjaamissa väitöskirjoissa rakennettiin terveellisyydelle, elättäjyydelle, aktiivisuudelle sekä tietoisuudelle pohjautuva ihanne, joka oli kytketty miehiin ja miehuuteen. Lisäksi tutkitaan sukupuolen muotoja ja funktioita sosiaalipoliittisessa kirjallisuudessa. Oliko sukupuoli pelkkä väestöllinen kategoria vai osoittivatko sosiaalipolitiikan tutkijat syvällisempää mielenkiintoa miesten ja naisten asemaa sekä rooleja kohtaan? Mitkä asiat huomioitiin sukupuolen avulla? Waris oli myös industrialismin aiheuttaman yhteiskuntamuutoksen asiantuntija. Väitöskirjassa osoitetaan miten miehiä ja naisia käsiteltiin eri tavalla muutoksen symboleina.

Matrix Mind : on managerial reframing in multidimensional problem solving

Det är inte ovanligt att man i organisationer ställs inför problem som inte kan hanteras inom befintlig organisationsstruktur. Skälen kan vara att frågorna har många – ibland konflikterande – dimensioner och perspektiv som samtidigt måste beaktas. I den här avhandlingen studeras vilka tankemönster och föreställningar som fanns när grupper av chefer försökte lösa komplexa problem, som inte hade en naturlig organisatorisk hemvist och hur de omsatte dessa tankemönster i handling. Vad kännetecknade det ledarskap som utövades under problemlösningsprocessen? Avhandlingens empiri hämtas från ledarutvecklingsprogram i två internationellt verksamma företag i Sverige, och omfattar 14 verkliga affärsproblem i dessa företag och den process varigenom de löstes. De 14 seminarierna utgör exempel på hur mångdimensionella frågeställningar framgångsrikt hanteras utanför den befintliga organisationsstrukturen. Studien ger, genom att adressera frågor kring tankesätt och ledningsprocesser, en djupare förståelse för förutsättningarna för detta, och lyfter särskilt fram betydelsen av ett ledarskap som inbegriper begreppen intervention, förmåga och omtolkning. Som ett samlat begrepp introduceras bilden att utöva ledarskapet utifrån ett matrix mind. Att påverka strukturer (i vid mening) och därigenom de förmågor som utvecklas, är del i detta ledarskap. Det sker genom interventioner (ingrepp som påverkar relationer i t ex en grupp) och baserades i den aktuella empirin på uppfattningar om värdet av problematisering, erfarenhetsutbyte och av ett språk, som både beskriver och anger inriktning för aktiviteter. Interventioner i strukturer (och till dem knutna processer) beskriver dock bara delvis detta ledarskap. Att leda med ett matrix mind innefattar också ett nyfiket och kreativt förhållningssätt, och att utifrån detta leda omtolkning av problem. I empirin finns flera exempel på detta. Avhandlingen avser att ge ett bidrag inom såväl organisations- som ledarskapsteori.

Situationsfaktorer i sexuellt utnyttjande av barn inverkar på psykosexuella problem : en metaanalys

Pro graduavhanlingens svenska sammanfattning

Safety and outcome of coronary interventions with special reference to anticoagulation and stent type

University of Turku, Faculty of Medicine, Department of Cardiology and Cardiovascular Medicine, Doctoral Programme of Clinical Investigation, Heart Center, Turku University Hospital, Turku, Finland Division of Internal Medicine, Department of Cardiology, Seinäjoki Central Hospital, Seinäjoki, Finland Heart Center, Satakunta Central Hospital, Pori, Finland Annales Universitatis Turkuensis Painosalama Oy, Turku, Finland 2015 Antithrombotic therapy during and after coronary procedures always entails the challenging establishment of a balance between bleeding and thrombotic complications. It has been generally recommended to patients on long-term warfarin therapy to discontinue warfarin a few days prior to elective coronary angiography or intervention to prevent bleeding complications. Bridging therapy with heparin is recommended for patients at an increased risk of thromboembolism who require the interruption of anticoagulation for elective surgery or an invasive procedure. In study I, consecutive patients on warfarin therapy referred for diagnostic coronary angiography were compared to control patients with a similar disease presentation without warfarin. The strategy of performing coronary angiography during uninterrupted therapeutic warfarin anticoagulation appeared to be a relatively safe alternative to bridging therapy, if the international normalized ratio level was not on a supratherapeutic level. In-stent restenosis remains an important reason for failure of long-term success after a percutaneous coronary intervention (PCI). Drug-eluting stents (DES) reduce the problem of restenosis inherent to bare metal stents (BMS). However, a longer delay in arterial healing may extend the risk of stent thrombosis (ST) far beyond 30 days after the DES implantation. Early discontinuation of antiplatelet therapy has been the most important predisposing factor for ST. In study II, patients on long-term oral anticoagulant (OAC) underwent DES or BMS stenting with a median of 3.5 years’follow-up. The selective use of DESs with a short triple therapy seemed to be safe in OAC patients, since late STs were rare even without long clopidogrel treatment. Major bleeding and cardiac events were common in this patient group irrespective of stent type. In order to help to predict the bleeding risk in patients on OAC, several different bleeding risk scorings have been developed. Risk scoring systems have also been used also in the setting of patients undergoing a PCI. In study III, the predictive value of an outpatient bleeding risk index (OBRI) to identify patients at high risk of bleeding was analysed. The bleeding risk seemed not to modify periprocedural or long-term treatment choices in patients on OAC after a percutaneous coronary intervention. Patients with a high OBRI often had major bleeding episodes, and the OBRI may be suitable for risk evaluation in this patient group. Optical coherence tomography (OCT) is a novel technology for imaging intravascular coronary arteries. OCT is a light-based imaging modality that enables a 12–18 µm tissue axial resolution to visualize plaques in the vessel, possible dissections and thrombi as well as, stent strut appositions and coverage, and to measure the vessel lumen and lesions. In study IV, 30 days after titanium-nitride-oxide (TITANOX)-coated stent implantation, the binary stent strut coverage was satisfactory and the prevalence of malapposed struts was low as evaluated by OCT. Long-term clinical events in patients treated with (TITANOX)-coated bio-active stents (BAS) and paclitaxel-eluting stents (PES) in routine clinical practice were examined in study V. At the 3-year follow-up, BAS resulted in better long-term outcome when compared with PES with an infrequent need for target vessel revascularization. Keywords: anticoagulation, restenosis, thrombosis, bleeding, optical coherence tomography, titanium

The nature and role of trust in temporary virtual problem-solving teams

The objective of this study is to increase understanding of the nature and role of trust in temporary virtual problem-solving teams engaged in real-life co-creation activities, while much of previous research has been conducted in student settings. The different forms and bases of trust, possible trust barriers and trust building actions, and perceived role of trust in knowledge sharing and collaboration are analyzed. The study is conducted as a qualitative case study in case company. Data includes interviews from 24 people: 13 from 3 different project teams that were going on during the study, 8 from already finalized project teams, and 3 founders of case company. Additional data consists of communication archives from three current teams. The results indicate that there were both knowledge-based and swift trust present, former being based on work-related personal experiences about leaders or other team members, and latter especially on references, disposition to trust and institution-based factors such as norms and rules, as well as leader and expert action. The findings suggest that possible barriers of trust might be related to lack of adaptation to virtual work, unclear roles and safety issues, and nature of virtual communication. Actions that could be applied to enhance trust are for example active behavior in discussions, work-related introductions communicating competence, managerial actions and face-to-face interaction. Finally, results also suggest that trust has a focal role as an enabler of action and knowledge sharing, and coordinator of effective collaboration and performance in temporary virtual problem-solving teams.