Progetto e realizzazione del sistema di gestione autonoma del volo e controllo in remoto per un velivolo UAV ad ala rotante

This PhD thesis presents the results, achieved at the Aerospace Engineering Department Laboratories of the University of Bologna, concerning the development of a small scale Rotary wing UAVs (RUAVs). In the first part of the work, a mission simulation environment for rotary wing UAVs was developed, as main outcome of the University of Bologna partnership in the CAPECON program (an EU funded research program aimed at studying the UAVs civil applications and economic effectiveness of the potential configuration solutions). The results achieved in cooperation with DLR (German Aerospace Centre) and with an helicopter industrial partners will be described. In the second part of the work, the set-up of a real small scale rotary wing platform was performed. The work was carried out following a series of subsequent logical steps from hardware selection and set-up to final autonomous flight tests. This thesis will focus mainly on the RUAV avionics package set-up, on the onboard software development and final experimental tests. The setup of the electronic package allowed recording of helicopter responses to pilot commands and provided deep insight into the small scale rotorcraft dynamics, facilitating the development of helicopter models and control systems in a Hardware In the Loop (HIL) simulator. A neested PI velocity controller1 was implemented on the onboard computer and autonomous flight tests were performed. Comparison between HIL simulation and experimental results showed good agreement.

The Law and Economics of Hedge Fund Regulation: A Comparison between the U.S. and the EU

This doctoral dissertation seeks to assess and address the potential contribution of the hedge fund industry to financial instability. In so doing, the dissertation investigates three main questions. What are the contributions of hedge funds to financial instability? What is the optimal regulatory strategy to address the potential contribution of hedge funds to financial instability? And do new regulations in the U.S. and the EU address the contribution of hedge funds to financial instability? With respect to financial stability concerns, it is argued that despite their benefits, hedge funds can contribute to financial instability. Hedge funds’ size and leverage, their interconnectedness with Large Complex Financial Institutions (LCFIs), and the likelihood of herding behavior in the industry can potentially undermine financial stability. Nonetheless, the data on hedge funds’ size and leverage suggest that these features are far from being systemically important. In contrast, the empirical evidence on the interconnectedness of hedge funds with LCFIs and their herding behavior is mixed. Based on these findings, the thesis focuses on one particular aspect of hedge fund regulation: direct vs. indirect regulation. In this respect, a major contribution of the thesis to the literature consists in the explicit discussion of the relationships between hedge funds and other market participants. Specifically, the thesis locates the domain of the indirect regulation in the inter-linkages between hedge funds and prime brokers. Accordingly, the thesis argues that the indirect regulation is likely to address the contribution of hedge funds to systemic risk without compromising their benefits to financial markets. The thesis further conducts a comparative study of the regulatory responses to the potential contribution of hedge funds to financial instability through studying the EU Directive on Alternative Investment Fund Managers (AIFMD) and the hedge fund-related provisions of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.