A factor analytical approach to price discovery

Existing econometric approaches for studying price discovery presume that the number of markets are small, and their properties become suspect when this restriction is not met. They also require making identifying restrictions and are in many cases not suitable for statistical inference. The current paper takes these shortcomings as a starting point to develop a factor analytical approach that makes use of the cross-sectional variation of the data, yet is very user-friendly in that it does not involve any identifying restrictions or obstacles to inference.

A comprehensive analytical subdomain model and its field solutions for surface-mounted permanent magnet machines

This paper presents a comprehensive analytical subdomain model together with its field solutions for predicting the magnetic field distributions in surface-mounted permanent magnet (PM) machines. The tooth tips and slotting effects during open-circuit, armature reaction, and on-load conditions are considered when deriving the model and developing its solutions. The model derivations and field solutions are extended from a previous model, and can be applied to PM machines with any combinations of slot and pole numbers and any magnetization patterns in the magnets. This model is initially formulated according to Laplace's and Poisson's equations in 2-D polar coordinates by the separation of variables technique in four subdomains, such as magnet, airgap, winding slots, and slot-openings. The field solution of each subdomain is obtained applying the appropriate boundary conditions and interface conditions between every two subdomains, respectively, which can precisely account for the mutual influence between slots. Finite element analysis (FEA) is later deployed to validate the analytical results in a surface-mounted PM machine that has nonoverlapping winding arrangement. For validation purposes, PM machines having 3-slot/2-pole with parallel magnetization and 12-slot/10-pole with either parallel or radial magnetizations are used for comparisons. Computation of global quantities for the motor which include the phase back-EMF and cogging torque is also included. The results indicate that the proposed analytical model can accurately predict the magnetic field distributions in each subdomain and the motor's global quantities, which are in good agreement with those obtained from the FEA.

A microstructure based analytical model for tensile twinning in a rod textured Mg alloy

Abstract A model for tensile twinning during the compression of rod textured magnesium is developed based on the idea that these twins nucleate at grain boundaries and that when the twin number density per grain is low these twins readily give rise to the formation of other 'interaction' twins in adjacent grains. Experimental observations of twin aspect ratios measured at a single grain size and twin number densities measured over four grain sizes were used to determine model material parameters. Using these, the model provides reasonable predictions for the observed magnitudes and trends for the following observations:Effect of grain size and stress on twin volume fraction, fractional twin length and the fraction of twin contact.Effect of grain size on the yield stress.Effect of grain size on the general shape of the stress-strain curve at low strains. A parametric study shows the model to be quite robust but that it is particularly sensitive to the value of the exponent assumed for the twin nucleation rate law. It is seen that preventing the formation of interaction twins provides an important avenue for hardening and that the flow stress is also particularly sensitive to the relaxation of the twin back stresses. The model shows the importance of taking microstructure into account when modelling twinning.

A factor analytical method to interactive effects dynamic panel models with or without unit root

In a recent study, Bai (Fixed-Effects Dynamic Panel Models, A Factor Analytical Method. Econometrica 81, 285-314, 2013a) proposes a new factor analytic (FA) method to the estimation of dynamic panel data models, which has the unique and very useful property that it is completely bias-free. However, while certainly appealing, it is restricted to fixed effects models without a unit root. In many situations of practical relevance this is a rather restrictive consideration. The purpose of the current study is therefore to extend the FA approach to cover models with multiple interactive effects and a possible unit root.

The restoration of the passivity of stainless steel Weldments in pickling solutions observed using electrochemical and surface analytical methods

In this study, a solution containing ammonium fluoride (NH4F) and nitric acid (HNO3) was used as an alternative to the conventional highly toxic pickling solution HF/HNO3 for pickling weldments of selected stainless steels including Type 316 stainless steel (UNS S31600), duplex stainless steel 2205 (UNS S32205), and super duplex stainless steel 2507 (UNS S32750). Electrochemical and surface analytical methods were used to understand the effects of pickling on the stainless steel weldments. Cyclic potentiodynamic polarization (CPP) test results indicated that the restoration of passivity of stainless steel weldments could be achieved by pickling the weldments in both HF/HNO3 solution and NH4F/HNO3 solutions. Scanning electron microscopy observation of the UNS S32750 weldment surface revealed that both the HF/HNO3 solution and the NH4F/HNO3 solution could remove the heat tint on the weldment. X-ray photoelectron spectroscopy analysis indicated that treatment in these two pickling solutions produced passive films with similar characteristics. Thus, this work suggests that the NH4F/HNO3 solution is a promising alternative to HF/HNO3 solution for the pickling of stainless steel weldments, and that the CPP test approach can be used in conjunction with surface analytical methods for further development of safer and environmentally friendly picklingsolutions.

Analytical modeling of partially shaded photovoltaic systems

As of today, the considerable influence of select environmental variables, especially irradiance intensity, must still be accounted for whenever discussing the performance of a solar system. Therefore, an extensive, dependable modeling method is required in investigating the most suitable Maximum Power Point Tracking (MPPT) method under different conditions. Following these requirements, MATLAB-programmed modeling and simulation of photovoltaic systems is presented here, by focusing on the effects of partial shading on the output of the photovoltaic (PV) systems. End results prove the reliability of the proposed model in replicating the aforementioned output characteristics in the prescribed setting. The proposed model is chosen because it can, conveniently, simulate the behavior of different ranges of PV systems from a single PV module through the multidimensional PV structure.