Entrepreneurial decision-making using the knightian uncertainty approach

The article discusses the behavioral aspects that affect the entrepreneurs' decision making under the Knightian uncertainty approach. Since the profit arising from entrepreneurial activity represents the reward of an immeasurable and subjective risk, it has been hypothesized that innovative entrepreneurs have excessive optimism and confidence, which leads them to invest in high-risk activities. A behavioral model of decision making under uncertainty is used to test the hypothesis of overconfidence. This model is based on Bayesian inference, which allows us to model the assumption that these entrepreneurs are overconfident. We conclude that, under the hypothesis of overconfidence, these entrepreneurs decide to invest, despite the fact that the expected utility model indicates the contrary. This theoretical finding could explain why there are a large number of business failures in the first years of activity.

CITRICULTURE ECONOMIC AND FINANCIAL EVALUATION UNDER CONDITIONS OF UNCERTAINTY

ABSTRACT The citriculture consists in several environmental risks, as weather changes and pests, and also consists in considerable financial risk, mainly due to the period ofreturn on the initial investment. This study was motivated by the need to assess the risks of a business activity such as citriculture. Our objective was to build a stochastic simulation model to achieve the economic and financial analysis of an orange producer in the Midwest region of the state of Sao Paulo, under conditions of uncertainty. The parameters used were the Net Present Value (NPV), the Modified Internal Rate of Return(MIRR), and the Discounted Payback. To evaluate the risk conditions we built a probabilistic model of pseudorandom numbers generated with Monte Carlo method. The results showed that the activity analyzed provides a risk of 42.8% to reach a NPV negative; however, the yield assessed by MIRR was 7.7%, higher than the yield from the reapplication of the positive cash flows. The financial investment pays itself after the fourteenth year of activity.

Optimization of particle bombardment parameters for the genetic transformation of Brazilian maize inbred lines

The objective of this work was to develop a genetic transformation system for tropical maize genotypes via particle bombardment of immature zygotic embryos. Particle bombardment was carried out using a genetic construct with bar and uidA genes under control of CaMV35S promoter. The best conditions to transform maize tropical inbred lines L3 and L1345 were obtained when immature embryos were cultivated, prior to the bombardment, in higher osmolarity during 4 hours and bombarded at an acceleration helium gas pressure of 1,100 psi, two shots per plate, and a microcarrier flying distance of 6.6 cm. Transformation frequencies obtained using these conditions ranged from 0.9 to 2.31%. Integration of foreign genes into the genome of maize plants was confirmed by Southern blot analysis as well as bar and uidA gene expressions. The maize genetic transformation protocol developed in this work will possibly improve the efficiency to produce new transgenic tropical maize lines expressing desirable agronomic characteristics.

Optimization of solvent mixtures for extraction from bark of Schinus terebinthifolius by a statistical mixture-design technique and development of a UV-Vis spectrophotometric method for analysis of total polyphenols in the extract

A statistical mixture-design technique was used to study the effects of different solvents and their mixtures on the yield, total polyphenol content, and antioxidant capacity of the crude extracts from the bark of Schinus terebinthifolius Raddi (Anacardiaceae). The experimental results and their response-surface models showed that ternary mixtures with equal portions of all the three solvents (water, ethanol and acetone) were better than the binary mixtures in generating crude extracts with the highest yield (22.04 ± 0.48%), total polyphenol content (29.39 ± 0.39%), and antioxidant capacity (6.38 ± 0.21). An analytical method was developed and validated for the determination of total polyphenols in the extracts. Optimal conditions for the various parameters in this analytical method, namely, the time for the chromophoric reaction to stabilize, wavelength of the absorption maxima to be monitored, the reference standard and the concentration of sodium carbonate were determined to be 5 min, 780 nm, pyrogallol, and 14.06% w v-1, respectively. UV-Vis spectrophotometric monitoring of the reaction under these conditions proved the method to be linear, specific, precise, accurate, reproducible, robust, and easy to perform.

Regulated deficit irrigation and tommy atkins mango orchard productivity under microsprinkling in brazilian semi arid

This study aimed to test controlled levels of water deficiency in soil in mango trees, under microsprinkling irrigation, in semi-arid conditions, and to evaluate its effect in the productivity and fruits quality. The deficits were applied in the phases I, II and III of growth of the fruit, during the productive cycles of the mango tree in 2006 and 2007. The experiment in both cases was arranged in an entirely random design with 10 treatments and 3 repetitions, in the year I, and with 8 treatments and 3 repetitions in the year II. The values of soil water potential, of the treatments submitted to regulated deficit irrigation (RDI), were placed in the range of 0 to -0.011 MPa, showing that the soil humidity varied between the saturation and the field capacity, not characterizing deficit water condition. The average values of stem water potential (Ψstem) varied between -0.90 and -1.74 MPa, evidencing significant effect (p <0.05) just for T1 (without irrigation), T7 and T8 (RDI with 30% of the ETc in the phases II and III, respectively). Through the variance analysis, significant differences were not verified among productivity, number of fruits per plant and size of the fruit, in none of the experiments, what indicates the possibility of reduction of the water use in the irrigation of the mango tree without significant losses of productivity and fruit quality.

Optimization and validation of a methodology to determine total arsenic, As(III) and As(V), in water samples, through graphite furnace atomic absorption spectrometry

The Graphite furnace atomic absorption spectrometry (GF AAS) was the technique chosen by the inorganic contamination laboratory (INCQ/ FIOCRUZ) to be validated and applied in routine analysis for arsenic detection and quantification. The selectivity, linearity, sensibility, detection, and quantification limits besides accuracy and precision parameters were studied and optimized under Stabilized Temperature Platform Furnace (STPF) conditions. The limit of detection obtained was 0.13 µg.L-1 and the limit of quantification was 1.04 µg.L-1, with an average precision, for total arsenic, less than 15% and an accuracy of 96%. To quantify the chemical species As(III) and As(V), an ion-exchange resin (Dowex 1X8, Cl- form) was used and the physical-chemical parameters were optimized resulting in a recuperation of 98% of As(III) and of 90% of As(V). The method was applied to groundwater, mineral water, and hemodialysis purified water samples. All results obtained were lower than the maximum limit values established by the legal Brazilian regulations, in effect, 50, 10, and 5 µg.L-1 para As total, As(III) e As(V), respectively. All results were statistically evaluated.

Optimization of the extraction of carrageenan from Kappaphycus alvarezii using response surface methodology

This study aims to optimize an alternative method of extraction of carrageenan without previous alkaline treatment and ethanol precipitation using Response Surface Methodology (RSM). In order to introduce an innovation in the isolation step, atomization drying was used reducing the time for obtaining dry carrageenan powder. The effects of extraction time and temperature on yield, gel strength, and viscosity were evaluated. Furthermore, the extracted material was submitted to structural analysis, by infrared spectroscopy and nuclear magnetic resonance spectroscopy (¹H-NMR), and chemical composition analysis. Results showed that the generated regression models adequately explained the data variation. Carrageenan yield and gel viscosity were influenced only by the extraction temperature. However, gel strength was influenced by both, extraction time and extraction temperature. Optimal extraction conditions were 74 ºC and 4 hours. In these conditions, the carrageenan extract properties determined by the polynomial model were 31.17%, 158.27 g.cm-2, and 29.5 cP for yield, gel strength, and viscosity, respectively, while under the experimental conditions they were 35.8 ± 4.68%, 112.50 ± 4.96 g.cm-2, and 16.01 ± 1.03 cP, respectively. The chemical composition, nuclear magnetic resonance spectroscopy, and infrared spectroscopy analyses showed that the crude carrageenan extracted is composed mainly of κ-carrageenan.

Optimization of extrusion variables for the production of snacks from by-products of rice and soybean

This study aimed to define the process conditions to obtain snacks from the by-products of rice and soybean with physical characteristics suitable for marketing. Therefore, the effects of moisture and extrusion temperature on the expansion and color of the products obtained experimentally obtained were evaluated, and the proximate composition of the by-products and that of the snack with greater desirability were determined. Response surface methodology and rotational central composite design were used, and desirability test based on the regression models adjusted was applied. The most desirable snack, with the highest expansion index (3.39), specific volume (13.5 mL.g-1), and the chromaticity coordinate a* (2.79), was obtained under 12 g.100 g-1 moisture and 85ºC of temperature in the third zone of the extruder. The snack produced under these conditions attained content of protein and lipid content 41 and 64% higher than that of the traditional corn snack. It can be concluded that producing extruded snack made form a mixture of broken grains, rice bran, and soybean okara (81:9:10) is technologically feasible, enabling the development of a new product with good nutritional value that can improve the diet of children, the main consumers of this type of food.

Spirulina platensis: process optimization to obtain biomass

Spirulina platensis is a photoautotrophic mesophilic cyanobacterium. Its main sources of nutrients are nitrate, urea, and ammonium salts. Spirulina cultivation requires temperature, light intensity, and nutrient content control. This microalgae has been studied and used commercially due to its therapeutic and antioxidant potential. In addition, several studies have reported its ability to use CO2, its immune activity, and use as an adjuvant nutritive factor in the treatment of obesity. The objective of this study is the production of biomass of S. platensis using different rates of stirring, nitrogen source, amount of micronutrients, and luminosity. A 2(4) experimental design with the following factors: stirring (120 and 140 RPM), amount of nitrogen (1.5 and 2.5 g/L), amount of micronutrients (0,25 and 0,75 mL/L) (11 and 15 W), and luminosity was used. Fermentation was performed in a 500 mL conical flask with 250 mL of culture medium and 10% inoculum in an incubator with controlled stirring and luminosity. Fermentation was monitored using a spectrophotometer (560 nm), and each fermentation lasted 15 days. Of the parameters studied, luminosity is the one with the highest significance, followed by the amount of nitrogen and the interaction between stirring and micronutrients. Maximum production of biomass for 15 days was 2.70 g/L under the following conditions: luminosity15W; stirring, 120 RPM; source of nitrogen, 1.5 g/L; and micronutrients, 0.75 mL/L.

Production optimization and characterization of immunomodulatory peptides obtained from fermented goat placenta

The goat placental immunomodulatory peptides were produced by fermentation with Aspergillus Niger. The objective of the present study was to investigate the effects of fermentation parameters (carbon source content, pH, and time) on spleen lymphocyte proliferation for the highest immune activity of the fermentation broth using response surface methodology (RSM). According to the data analysis by the Design-Expert® software, the stimulation index value (23.51%), which is the maximum immune activity, was obtained under the following conditions: content of carbon source 1.97 g·L-1, initial pH 5.0, and 74.43 h of fermentation time. Under the optimized fermentation conditions, at a certain concentration range, the fermentation broth produced a significant effect on the proliferation of mouse spleen lymphocytes. Ultrafiltration technique was performed to separate the fermentation broth with different MW (molecular weight). It was found that peptides in the range of <10 KDa were the main bioactivity fractions for the immunomodulatory and antioxidant activities.

Extraction optimization of antioxidant polysaccharides from Auricularia auricula fruiting bodies

AbstractThe extraction conditions (liquid-solid ratio, temperature and time) of antioxidant polysaccharides from Auricularia auricula fruiting bodies (AAFB) were optimized using response surface methodology (RSM). The Box-Behnken experimental results showed the optimum extraction conditions as follows: a liquid-solid ratio of 38.77 mL/g, a temperature of 93.98 °C and a time of 3.41 h. Under these conditions, the maximal polysaccharide yield was 10.46 g/100 g. In addition, AAFB polysaccharides exhibited stronger antioxidant activities by evaluating of Fe2+-chelating ability and hydroxyl radical scavenging activity with IC50 values of 0.43 and 0.38 mg/mL, respectively. These results indicated that AAFB polysaccharides might be potentially used as a natural antioxidant.

Optimization of the HS-SPME-GC/MS technique for determining volatile compounds in red wines made from Isabel grapes (Vitis labrusca)

Abstract Brazilian wine production is characterized by Vitis labrusca grape varieties, especially the economically important Isabel cultivar, with over 80% of its production destined for table wine production. The objective of this study was to optimize and validate the conditions for extracting volatile compounds from wine with the solid-phase microextraction technique, using the response surface method. Based on the response surface analysis, it can be concluded that the central point values maximize the process of extracting volatile compounds from wine, i.e., an equilibrium time of 15 minutes, an extraction time of 35 minutes, and an extraction temperature of 30 °C. Esters were the most numerous compounds found under these extraction conditions, indicating that wines made from Isabel cultivar grapes are characterized by compounds that confer a fruity aroma; this finding corroborates the scientific literature.

When emergent countries reform global governance of climate change: Brazil under Lula

Due to its recent economic success, Brazil is considered an emerging country, but is it an emerging power concerning global environmental governance? This article argues that although Brazil has a sui generis profile, it can only be considered an emerging power in some environmental regimes, such as global climate change. Thus, international relations theory needs more analytical instruments to assess the impact of emerging powers in global environmental governance

Brazilian foreign policy under President Lula (2003-2010): an overview

Foreign Minister of Brazil since 2003, Ambassador Celso Amorim outlines the main guidelines and accomplishments of Brazil's foreign policy under President Luiz Inácio Lula da Silva. The article provides a full-fledged, although not exhaustive, narrative of a number of diplomatic initiatives championed by Brazil over the last eight years: from the gathering of the group of developing countries in a World Trade Organization (WTO) meeting in Cancun to the negotiations that led to the Declaration of Tehran, as well as the challenges the country has been facing as its international weight grows.

Climate governance in an international system under conservative hegemony: the role of major powers

In the last five years, climate change has been established as a central civilizational driver of our time. As a result of this development, the most diversified social processes - as well as the fields of science which study them - have had their dynamics altered. In International Relations, this double challenge could be explained as follows: 1) in empirical terms, climate change imposes a deepening of cooperation levels on the international community, considering the global common character of the atmosphere; and 2) to International Relations as a discipline, climate change demands from the scientific community a conceptual review of the categories designed to approach the development of global climate governance. The goal of this article is to discuss in both conceptual and empirical terms the structure of global climate change governance, through an exploratory research, aiming at identifying the key elements that allow understanding its dynamics. To do so, we rely on the concept of climate powers. This discussion is grounded in the following framework: we now live in an international system under conservative hegemony that is unable to properly respond to the problems of interdependence, among which - and mainly -, the climate issue.