Product development process: Using real options for assessments and to support the decision-making at decision gates

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.

Análise de investimento em confinamento bovino no centro-oeste brasileiro: um estudo de caso.

This study analyzed the economic viability of an investment in feedlot cattle on a farm in the midsize state of Goias. The research identified that different thematic studies whose interests have focused mainly on cost analysis and profitability punctual. Differently, this study used the approaches of the Discounted Cash Flow (DCF) and the Real Options Theory (ROT). The first used the projected cash flow for 10 years and a discount rate determined by CAPM at 8% p.a. for containment of heads 400. The second was modeled by the binomial model of Cox, Ross and Rubinstein (1979) incorporating the option of waiting. This methodology has not been employed in Brazilian cattle industry. The search results pointed to the economic viability of the project when considered possible scenarios for the different price ranges of the ox that state bushel. In addition, the TOR proved to be a more robust tool for investment analysis, by incorporating the flexibility of farmers to wait for the right time to make the confinement.

Decisão de investimentos em projetos de pesquisa e desenvolvimento na indústria aeronáutica usando a teoria das opções reais

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Stochastic quantization of real-time thermal field theory

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Real-time estimation of transmission line impedance based on modal analysis theory

The objective of this paper is to show a methodology to estimate the longitudinal parameters of transmission lines. The method is based on the modal analysis theory and developed from the currents and voltages measured at the sending and receiving ends of the line. Another proposal is to estimate the line impedance in function of the real-time load apparent power and power factor. The procedure is applied for a non-transposed 440 kV three-phase line. © 2011 IEEE.

A Comparative Analysis of In-Medium Spectral Functions for N(940) and N (au)(1535) in Real-Time Thermal Field Theory

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

Extension of PT-symmetric quantum mechanics to the Dirac theory with position-dependent mass

We present a new method to construct the exactly solvable PT-symmetric potentials within the framework of the position-dependent effective mass Dirac equation with the vector potential coupling scheme in 1 + 1 dimensions. In order to illustrate the procedure, we produce three PT-symmetric potentials as examples, which are PT-symmetric harmonic oscillator-like potential, PT-symmetric potential with the form of a linear potential plus an inversely linear potential, and PT-symmetric kink-like potential, respectively. The real relativistic energy levels and corresponding spinor components for the bound states are obtained by using the basic concepts of the supersymmetric quantum mechanics formalism and function analysis method. (C) 2007 Elsevier B.V. All rights reserved.

Neural network based on adaptive resonance theory with continuous training for multi-configuration transient stability analysis of electric power systems

This work presents a methodology to analyze electric power systems transient stability for first swing using a neural network based on adaptive resonance theory (ART) architecture, called Euclidean ARTMAP neural network. The ART architectures present plasticity and stability characteristics, which are very important for the training and to execute the analysis in a fast way. The Euclidean ARTMAP version provides more accurate and faster solutions, when compared to the fuzzy ARTMAP configuration. Three steps are necessary for the network working, training, analysis and continuous training. The training step requires much effort (processing) while the analysis is effectuated almost without computational effort. The proposed network allows approaching several topologies of the electric system at the same time; therefore it is an alternative for real time transient stability of electric power systems. To illustrate the proposed neural network an application is presented for a multi-machine electric power systems composed of 10 synchronous machines, 45 buses and 73 transmission lines. (C) 2010 Elsevier B.V. All rights reserved.

Reactive Control for Transmission Overload Relief Based on Sensitivity Analysis and Cooperative Game Theory

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Composition and invertibility for a class of generalized functions in the Colombeau's theory

In this work we define the composite function for a special class of generalized mappings and we study the invertibility for a certain class of generalized functions with real values.

Noether and topological currents equivalence and soliton/particle correspondence in affine sl(2)((1)) Toda theory coupled to matter

A submodel of the so-called conformal affine Toda model coupled to the matter field (CATM) is defined such that its real Lagrangian has a positive-definite kinetic term for the Toda field and a usual kinetic term for the (Dirac) spinor field. After spontaneously broken the conformal symmetry by means of BRST analysis, we end up with an effective theory, the off-critical affine Toda model coupled to the matter (ATM). It is shown that the ATM model inherits the remarkable properties of the general CATM model such as the soliton solutions, the particle/soliton correspondence and the equivalence between the Noether and topological currents. The classical solitonic spectrum of the ATM model is also discussed. (C) 2001 Elsevier B.V. B.V. All rights reserved.

PP-wave light-cone free string field theory at finite temperature

In this paper, a real-time formulation of light-cone pp-wave string field theory at finite temperature is presented. This is achieved by developing the thermo field dynamics (TFD) formalism in a second quantized string scenario. The equilibrium thermodynamic quantities for a pp-wave ideal string gas are derived directly from expectation values on the second quantized string thermal vacuum. Also, we derive the real-time thermal pp-wave closed string propagator. In the flat space limit it is shown that this propagator can be written in terms of Theta functions, exactly as the zero temperature one. At the end, we show how superstrings interactions can be introduced, making this approach suitable to study the BMN dictionary at finite temperature.

Correlation functions in super liouville theory

We calculate three- and four-point functions in super Liouville theory coupled to a super Coulomb gas on world sheets with spherical topology. We first integrate over the zero mode and assume that a parameter takes an integer value. We find the amplitudes, give plausibility arguments in favor of the result, and formally continue the parameter to an arbitrary real number. Remarkably the result is completely parallel to the bosonic case.

The Ramond sector of open superstring field theory

Although the equations of motion for the Neveu-Schwarz (NS) and Ramond (R) sectors of open superstring field theory can be covariantly expressed in terms of one NS and one R string field, picture-changing problems prevent the construction of an action involving these two string fields. However, a consistent action can be constructed by dividing the NS and R states into three string fields which are real, chiral and antichiral. The open superstring field theory action includes a WZW-like term for the real field and holomorphic Chern-Simons-like terms for the chiral and antichiral fields. Different versions of the action can be constructed with either manifest d = 8 Lorentz covariance or manifest TV = 1 d = 4 super-Poincaré covariance. The lack of a manifestly d = 10 Lorentz covariant action is related to the self-dual five-form in the type-IIB R-R sector.

Higher grading conformal affine Toda theory and (generalized) sine-Gordon/massive Thirring duality

Some properties of the higher grading integrable generalizations of the conformal affine Toda systems are studied. The fields associated to the non-zero grade generators are Dirac spinors. The effective action is written in terms of the Wess-Zumino-Novikov-Witten (WZNW) action associated to an affine Lie algebra, and an off-critical theory is obtained as the result of the spontaneous breakdown of the conformal symmetry. Moreover, the off-critical theory presents a remarkable equivalence between the Noether and topological currents of the model. Related to the off-critical model we define a real and local lagrangian provided some reality conditions are imposed on the fields of the model. This real action model is expected to describe the soliton sector of the original model, and turns out to be the master action from which we uncover the weak-strong phases described by (generalized) massive Thirring and sine-Gordon type models, respectively. The case of any (untwisted) affine Lie algebra furnished with the principal gradation is studied in some detail. The example of s^l(n) (n = 2, 3) is presented explicitly. © SISSA/ISAS 2003.