18 resultados para Real Option Value


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Enterprises need continuous product development activities to remain competitive in the marketplace. Their product development process (PDP) must manage stakeholders' needs - technical, financial, legal, and environmental aspects, customer requirements, Corporate strategy, etc. -, being a multidisciplinary and strategic issue. An approach to use real option to support the decision-making process at PDP phases in taken. The real option valuation method is often presented as an alternative to the conventional net present value (NPV) approach. It is based on the same principals of financial options: the right to buy or sell financial values (mostly stocks) at a predetermined price, with no obligation to do so. In PDP, a multi-period approach that takes into account the flexibility of, for instance, being able to postpone prototyping and design decisions, waiting for more information about technologies, customer acceptance, funding, etc. In the present article, the state of the art of real options theory is prospected and a model to use the real options in PDP is proposed, so that financial aspects can be properly considered at each project phase of the product development. Conclusion is that such model can provide more robustness to the decisions processes within PDP.

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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

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O objetivo deste estudo foi estabelecer o tempo de prenhez da paca por meio de ultra-sonografia. Nove pacas prenhes foram periodicamente acompanhadas com um transdutor eletrônico setorial bi-frequencial de 5,0 e 7,5 MHz, em modo B, desde a detecção ultra-sonográfica da vesícula embrionária ou do feto até o nascimento dos filhotes. Os animais foram colocados em uma gaiola de ferro de prensagem lateral e permaneceram em posição quadrupedal durante as sessões. Um pano escuro foi usado para cobrir a gaiola e frutas foram oferecidas durante o exame ultra-sonográfico para evitar reações agressivas. Quanto mais precocemente ocorreu a detecção de prenhez, maior foi o período de acompanhamento ultra-sonográfico até o nascimento dos filhotes. Apenas um filhote nasceu por parto, com 796,5 ± 74,36 gramas (valor médio ± desvio padrão da amostra) e 33,46 ± 0,60 centímetros (valor médio ± desvio padrão da amostra) de comprimento (entre a borda rostral do focinho e a extremidade distal da cauda). O período de prenhez da paca abrange 135 a 139 dias.

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This work presents an approach for geometric solution of an optimal power flow (OPF) problem for a two bus system (a slack and a PV busses). Additionally, the geometric relationship between the losses minimization and the increase of the reactive margin and, therefore, the maximum loading point, is shown. The algebraic equations for the calculation of the Lagrange multipliers and for the minimum losses value are obtained. These equations are used to validate the results obtained using an OPF program. (C) 2002 Elsevier B.V. B.V. All rights reserved.

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Trata-se de um artigo que comenta sobre a real importância do Termo de Consentimento Informado na prática médica. Este documento tem sido cada vez mais usado como uma prática defensiva, a fim de constituir provas para defesa de um eventual processo judicial de responsabilidade médica, desvirtuando assim a idéia original, que seria a de respeitar a autonomia do paciente e delimitar a responsabilidade médica. O documento tem como objetivo mostrar que o médico cumpriu com seu dever de informar. Seu grande valor reside nos casos onde existam riscos de danos irreversíveis ao paciente. Conclui-se, porém, que um prontuário bem elaborado onde se inclui o registro das informações que foram transmitidas, bem como o grau de participação dos pacientes e seus familiares nas decisões terapêuticas, também deve ter valor ético e jurídico semelhante do TCI.

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Up to now, the only known exact Foldy-Wouthuysen transformation (FWT) in curved space is that concerning Dirac particles coupled to static spacetime metrics. Here we construct the exact FWT related to a real spin-0 particle for the aforementioned spacetimes. This exact transformation exists independently of the value of the coupling between the scalar field and gravity. Moreover, the gravitational Darwin term written for the conformal coupling is one-third of the corresponding term in the fermionic case. There are some arguments in the literature that seem to favor the choice lambda=1/6. We rehearse a number of claims of these works.

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In this work we intend to study a class of time-dependent quantum systems with non-Hermitian Hamiltonians, particularly those whose Hermitian counterparts are important for the comprehension of posed problems in quantum optics and quantum chemistry. They consist of an oscillator with time-dependent mass and frequency under the action of a time-dependent imaginary potential. The wave functions are used to obtain the expectation value of the Hamiltonian. Although it is neither Hermitian nor PT symmetric, the Hamiltonian under study exhibits real values of energy.

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Fundação de Amparo à Pesquisa do Estado de São Paulo (FAPESP)

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The steam reforming is one of most utilized process of hydrogen production because of its high production efficiencies and its technological maturity. The use of ethanol for this purpose is a interesting option because this is a renewable and less environmentally offensive fuel. The objective of this study is evaluate the physical-chemical, thermodynamic and environmental analyses of steam reforming of ethanol. whose objective is to produce 0.7 Nm3/h of hydrogen to be used by a PEMFC of l kW. In this physical-chemical analysis, a global reaction of ethanol was considered. That is, the superheated ethanol and steam, at high temperatures, react to produce hydrogen and carbon dioxide. Beyond it's the simplest form to study the steam reforming of ethanol to hydrogen production, it's the case where occurs the highest production of hydrogen (the product to be used by fuel cells) and carbon dioxide, to be eliminated. But this reaction isn't real and depends greatly on the thermodynamic conditions of reforming, technical features of reformer system and catalysts. Other products generally formed (but not investigated in this study) are methane, carbon monoxide, among others. It was observed that the products is commonly produced in the moment when the reaction attains temperatures about 206°C (below this temperature, the reaction trend to the reaetants, that is, from hydrogen and carbon dioxide to steam and ethanol) and the advance degree of this reaction increases when the temperature of reaction also increases and when its pressure decreases. It's suggested reactions at about 600°C or higher. However, when the temperature attains 700°C, the stability of this reaction is occurred, that is, the production of reaction productions attains to the limit, that is the highest possible production. In temperatures above 700°C, the use of energy is very high for produce more products, having higher costs of production that the suggested temperature. The indicated pressure is 1 atm., a value that allows a desirable economy of energy that would also be used for pressurization or depressurization of steam reformer. In exergetic analysis, it's seem that the lower irreversibililies occur when the pressure of reactions are lower. However, the temperature changes don't affect significantly the irreversibilites. Utilizing the obtained results from this analysis, it was concluded that the best thermodynamic conditions for steam reforming of ethanol is the same conditions suggested in the physical-chemical analysis. The exergetic and first law efficiencies are high on the thermodynamie conditions studied.

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Clarke's matrix has been used as an eigenvector matrix for transposed three-phase transmission lines and it can be applied as a phase-mode transformation matrix for transposed cases. Considering untransposed three-phase transmission lines, Clarke's matrix is not an exact eigenvector matrix. In this case, the errors related to the diagonal elements of the Z and Y matrices can be considered negligible, if these diagonal elements are compared to the exact elements in domain mode. The mentioned comparisons are performed based on the error and frequency scan analyses. From these analyses and considering untransposed asymmetrical three-phase transmission lines, a correction procedure is determined searching for better results from the Clarke's matrix use as a phase-mode transformation matrix. Using the Clarke's matrix, the relative errors of the eigenvalue matrix elements can be considered negligible and the relative values of the off-diagonal elements are significant. Applying the corrected transformation matrices, the relative values of the off-diagonal elements are decreased. The comparisons among the results of these analyses show that the homopolar mode is more sensitive to the frequency influence than the two other modes related to three-phase lines. © 2006 IEEE.

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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

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Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

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Pós-graduação em Engenharia Civil - FEIS

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Pós-graduação em Engenharia Elétrica - FEIS