A crítica de Mandelbrot: normalidade como exceção e não como regra

Starting with a brief introduction about the evolution of asset pricing models, we seek here to introduce the critique made by Benoit Mandelbrot about using the normality hypothesis when building such models. This critique arises when empirical and theoretical models where confronted and the expected results diverged from the ones obtained. Next, we reproduce Mandelbrot alternative which he believes is sufficient to solve the main problems implied by the normality hyphotesis

How can micelle systems be rebuilt by a heating process?

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Analysis of aluminum plates under heating in electrical and natural gas furnaces

This paper analyzes the thermal storage characteristics of aluminum plates in furnaces during their heating for lamination under two sources of heat: an electrical resistance bank and a combustion process carried out with natural gas. The set of equations to model the furnace under operation with electrical energy, for air as the fluid, is presented. This supports the theoretical analysis for the system under operation with natural gas combustion products. A numerical procedure, using the software ANSYS, is applied to determine the convection heat transfer coefficients for heating by the air flow. Temperatures measured in a plate inside a real furnace are used as parameters to determine these coefficients. Then convection and radiation heat transfer coefficients are determined for the natural gas combustion products. Results are compared, indicating a possible gain of 5.5 h in relation to a 19.5 h period of conventional electrical heating per plate.

An improved three-dimensional model for growth of oxide films induced by laser heating

In this paper we consider a three-dimensional heat diffusion model to explain the growth of oxide films which takes place when a laser beam is shined on and heats a metallic layer deposited on a glass substrate in a normal atmospheric environment. In particular, we apply this model to the experimental results obtained for the dependence of the oxide layer thickness on the laser density power for growth of TiO2 films grown on Ti-covered glass slides. We show that there is a very good agreement between the experimental results and the theoretical predictions from our proposed three-dimensional model, improving the results obtained with the one-dimensional heat diffusion model previously reported. Our theoretical results also show the occurrence of surface cooling between consecutive laser pulses, and that the oxide track surface profile closely follows the spatial laser profile indicating that heat diffusive effects can be neglected in the growth of oxide films by laser heating. © 2001 Elsevier Science B.V.

One-dimensional analytical model for oxide thin film growth on Ti metal layers during laser heating in air

This paper presents the theoretical and experimental results for oxide thin film growth on titanium films previously deposited over glass substrate. Ti films of thickness 0.1 μm were heated by Nd:YAG laser pulses in air. The oxide tracks were created by moving the samples with a constant speed of 2 mm/s, under the laser action. The micro-topographic analysis of the tracks was performed by a microprofiler. The results taken along a straight line perpendicular to the track axis revealed a Gaussian profile that closely matches the laser's spatial mode profile, indicating the effectiveness of the surface temperature gradient on the film's growth process. The sample's micro-Raman spectra showed two strong bands at 447 and 612 cm -1 associated with the TiO 2 structure. This is a strong indication that thermo-oxidation reactions took place at the Ti film surface that reached an estimated temperature of 1160 K just due to the action of the first pulse. The results obtained from the numerical integration of the analytical equation which describes the oxidation rate (Wagner equation) are in agreement with the experimental data for film thickness in the high laser intensity region. This shows the partial accuracy of the one-dimensional model adopted for describing the film growth rate. © 2001 Elsevier Science B.V.

Bilevel approach for optimal location and contract pricing of distributed generation in radial distribution systems using mixed-integer linear programming

In this study, a novel approach for the optimal location and contract pricing of distributed generation (DG) is presented. Such an approach is designed for a market environment in which the distribution company (DisCo) can buy energy either from the wholesale energy market or from the DG units within its network. The location and contract pricing of DG is determined by the interaction between the DisCo and the owner of the distributed generators. The DisCo intends to minimise the payments incurred in meeting the expected demand, whereas the owner of the DG intends to maximise the profits obtained from the energy sold to the DisCo. This two-agent relationship is modelled in a bilevel scheme. The upper-level optimisation is for determining the allocation and contract prices of the DG units, whereas the lower-level optimisation is for modelling the reaction of the DisCo. The bilevel programming problem is turned into an equivalent single-level mixed-integer linear optimisation problem using duality properties, which is then solved using commercially available software. Results show the robustness and efficiency of the proposed model compared with other existing models. As regards to contract pricing, the proposed approach allowed to find better solutions than those reported in previous works. © The Institution of Engineering and Technology 2013.