The accuracy of valuations: expectation and reality

The relationship between valuations and the subsequent sale price continues to be a matter of both theoretical and practical interest. This paper reports the analysis of over 700 property sales made during the 1974/90 period. Initial results imply an average under-valuation of 7% and a standard error of 18% across the sample. A number of techniques are applied to the data set using other variables such as the region, the type of property and the return from the market to explain the difference between the valuation and the subsequent sale price. The analysis reduces the unexplained error; the bias is fully accounted for and the standard error is reduced to 15.3%. This model finds that about 6% of valuations over-estimated the sale price by more than 20% and about 9% of the valuations under-estimated the sale prices by more than 20%. The results suggest that valuations are marginally more accurate than might be expected, both from consideration of theoretical considerations and from comparison with the equivalent valuation in equity markets.

On the Relaxation Mechanisms of 6-Azauracil

The nonadiabatic photochemistry of 6-azauracil has been studied by means of the CASPT2//CASSCF protocol and double-zeta plus polarization ANO basis sets. Minimum energy states, transition states, minimum energy paths, and surface intersections have been computed in order to obtain an accurate description of several potential energy hypersurfaces. It is concluded that, after absorption of ultraviolet radiation (248 nm), two main relaxation mechanisms may occur, via which the lowest (3)(pi pi*) state can be populated. The first one takes place via a conical intersection involving the bright (1)(pi pi*) and the lowest (1)(n pi*) states, ((1)pi pi*/(1)n pi*)(CI), from which a low energy singlet-triplet crossing, ((1)n pi*/(3)pi pi*)(STC), connecting the (1)(n pi*) state to the lowest (3)(pi pi*) triplet state is accessible. The second mechanism arises via a singlet-triplet crossing, ((1)pi pi*/(3)n pi*)(STC), leading to a conical intersection in the triplet manifold, ((3)n pi*/(3)pi pi*)(CI), evolving to the lowest (3)(pi pi*) state. Further radiationless decay to the ground state is possible through a (gs/(3)pi pi*)(STC).

On the molecular mass of the extracellular hemoglobin of Glossoscolex paulistus: Analytical ultracentrifugation reexamination

The giant extracellular hemoglobin of Glossoscolex paulistus (HbGp) is constituted by Subunits containing heme groups with molecular masses (M) in the range of 15 to 19 kDa, monomers of 16 kDa (d), and trimers of 51 to 52 kDa (abc) linked by nonheme structures named linkers of 24 to 32 kDa (L). HbGp is homologous to Lumbricus terrestris hemoglobin (HbLt). Several reports propose M of HbLt in the range of 3.6 to 4.4 MDa. Based on subunits M determined by mass spectrometry and assuming HbGp stoichiometry of 12(abcd)(3)L(3) (Vinogradov model) plus 144 heme groups, a Value of M for HbGp oligomer of 3560 kDa can be predicted. This Value is nearly 500 kDa higher than the unique HbGp M Value reported in the literature. In the current work, sedimentation velocity analytical ultracentrifugation (AUC) experiments were performed to obtain M for HbGp in oxy and cyano-met forms. s(20,w)(0), values of 58.1 +/- 0.2 S and 59.6 +/- 0.2 S, respectively, for the two oxidation forms were obtained. The ratio between sedimentation and diffusion coefficients supplied values for M of approximately 3600 100 and 3700 100 kDa for oxy and cyano-met HbGp forms, respectively. An independent determination of the partial specific volume, V(bar), for HbGp was performed based on density measurements, providing a value of 0.764 +/- 0.008, in excellent agreement with the estimates from SEDFIT software. Our results show total consistency between M obtained by AUC and recent partial characterization by mass spectrometry. Therefore, HbGp possesses M very close to that of HbLt, suggesting an oligomeric assembly in agreement with the Vinogradov model. (c) 2008 Elsevier Inc. All rights reserved.

A Study On The Flow Characteristics Influenced By Hydraulic Structure At A Channel Junction

Natural riversare consisting of various networks as junction andstreams. And sediment and erosion are occurred by specific stream condition. When flood season,large discharge flew in the river and river bed changed by high flow velocity. Especially junction area’s flow characteristics are very complex. The purpose of this study is to analyze the flow characteristics in channel junction, which are most influenced by large discharge like flooding and input water from tributary. We investigate the flow characteristics by using hydrodynamics and transport module in MIKE 3 FM. MIKE 3 FM model was helpful tool to analysis 3D hydrodynamics, erosion and sediment effect from channel bed. We analyze flow characteristics at channel junction. Also we consider hydraulic structures like a bridge pier which is influencing flow characteristics like a flow velocity, water level, erosion and scour depth in channel bed. In the model, we controlled discharge condition according to Froude Number and reflect various grain diameter size and flow ratio change in main stream and tributary. In the result, flow velocity, water level, erosion and sediment depth are analyzed. Additionally, we suggest a these result relationship with equations. This study will help the understand flow characteristics and influence of hydraulic structure in channel junction. Acknowledgments This research was supported by a grant (12-TI-C01) from Advanced Water Management Research Program funded by Ministry of Land, Infrastructure and Transport of Korean government.

Optimal taxation with gradual learning of types

An important feature of life-cycle models is the presence of uncertainty regarding one’s labor income. Yet this issue, long recognized in different areas, has not received enough attention in the optimal taxation literature. This paper is an attempt to fill this gap. We write a simple 3 period model where agents gradually learn their productivities. In a framework akin to Mirrlees’ (1971) static one, we derive properties of optimal tax schedules and show that: i) if preferences are (weakly) separable, uniform taxation of goods is optimal, ii) if they are (strongly) separable capital income is to rate than others forms of investiment.

Simulação computacional do escoamento em bombas de cavidades progressivas

The use of Progressing Cavity Pumps (PCPs) in artificial lift applications in low deep wells is becoming more common in the oil industry, mainly, due to its ability to pump heavy oils, produce oil with large concentrations of sand, besides present high efficiency when compared to other artificial lift methods. Although this system has been widely used as an oil lift method, few investigations about its hydrodynamic behavior are presented, either experimental or numeric. Therefore, in order to increase the knowledge about the BCP operational behavior, this work presents a novel computational model for the 3-D transient flow in progressing cavity pumps, which includes the relative motion between rotor and stator, using an element based finite volume method. The model developed is able to accurately predict the volumetric efficiency and viscous looses as well as to provide detailed information of pressure and velocity fields inside the pump. In order to predict PCP performance for low viscosity fluids, advanced turbulence models were used to treat, accurately, the turbulent effects on the flow, which allowed for obtaining results consistent with experimental values encountered in literature. In addition to the 3D computational model, a simplified model was developed, based on mass balance within cavities and on simplification on the momentum equations for fully developed flow along the seal region between cavities. This simplified model, based on previous approaches encountered in literature, has the ability to predict flow rate for a given differential pressure, presenting exactness and low CPU requirements, becoming an engineering tool for quick calculations and providing adequate results, almost real-time time. The results presented in this work consider a rigid stator PCP and the models developed were validated against experimental results from open literature. The results for the 3-D model showed to be sensitive to the mesh size, such that a numerical mesh refinement study is also presented. Regarding to the simplified model, some improvements were introduced in the calculation of the friction factor, allowing the application fo the model for low viscosity fluids, which was unsuccessful in models using similar approaches, presented in previous works

Fases e criticalidade no modelo ashkin - teller de três cores

The usual Ashkin-Teller (AT) model is obtained as a superposition of two Ising models coupled through a four-spin interaction term. In two dimension the AT model displays a line of fixed points along which the exponents vary continuously. On this line the model becomes soluble via a mapping onto the Baxter model. Such richness of multicritical behavior led Grest and Widom to introduce the N-color Ashkin-Teller model (N-AT). Those authors made an extensive analysis of the model thus introduced both in the isotropic as well as in the anisotropic cases by several analytical and computational methods. In the present work we define a more general version of the 3-color Ashkin-Teller model by introducing a 6-spin interaction term. We investigate the corresponding symmetry structure presented by our model in conjunction with an analysis of possible phase diagrams obtained by real space renormalization group techniques. The phase diagram are obtained at finite temperature in the region where the ferromagnetic behavior is predominant. Through the use of the transmissivities concepts we obtain the recursion relations in some periodical as well as aperiodic hierarchical lattices. In a first analysis we initially consider the two-color Ashkin-Teller model in order to obtain some results with could be used as a guide to our main purpose. In the anisotropic case the model was previously studied on the Wheatstone bridge by Claudionor Bezerra in his Master Degree dissertation. By using more appropriated computational resources we obtained isomorphic critical surfaces described in Bezerra's work but not properly identified. Besides, we also analyzed the isotropic version in an aperiodic hierarchical lattice, and we showed how the geometric fluctuations are affected by such aperiodicity and its consequences in the corresponding critical behavior. Those analysis were carried out by the use of appropriated definitions of transmissivities. Finally, we considered the modified 3-AT model with a 6-spin couplings. With the inclusion of such term the model becomes more attractive from the symmetry point of view. For some hierarchical lattices we derived general recursion relations in the anisotropic version of the model (3-AAT), from which case we can obtain the corresponding equations for the isotropic version (3-IAT). The 3-IAT was studied extensively in the whole region where the ferromagnetic couplings are dominant. The fixed points and the respective critical exponents were determined. By analyzing the attraction basins of such fixed points we were able to find the three-parameter phase diagram (temperature £ 4-spin coupling £ 6-spin coupling). We could identify fixed points corresponding to the universality class of Ising and 4- and 8-state Potts model. We also obtained a fixed point which seems to be a sort of reminiscence of a 6-state Potts fixed point as well as a possible indication of the existence of a Baxter line. Some unstable fixed points which do not belong to any aforementioned q-state Potts universality class was also found

Naturally light invisible axion in models with large local discrete symmetries

We show that by introducing appropriate local Z(N)(Ngreater than or equal to13) symmetries in electroweak models it is possible to implement an automatic Peccei-Quinn symmetry, at the same time keeping the axion protected against gravitational effects. Although we consider here only an extension of the standard model and a particular 3-3-1 model, the strategy can be used in any kind of electroweak model. An interesting feature of this 3-3-1 model is that if we add (i) right-handed neutrinos, (ii) the conservation of the total lepton number, and (iii) a Z(2) symmetry, the Z(13) and the chiral Peccei-Quinn U(1)P-Q symmetries are both accidental symmetries in the sense that they are not imposed on the Lagrangian but are just a consequence of the particle content of the model, its gauge invariance, renormalizability, and Lorentz invariance. In addition, this model has no domain wall problem.

Solitons with isospin

We study the symmetries of the soliton spectrum of a pair of T-dual integrable models, invariant under global SL(2)(q) circle times U(1) transformations. They represent an integrable perturbation of the reduced Gepner parafermions, based on certain gauged SL(3)-WZW model. Their (semiclassical) topological soliton solutions, carrying isospin and belonging to the root of unity representations of q-deformed SU(2)(q)-algebra are obtained. We derive the semiclassical particle spectrum of these models, which is further used to prove their T-duality properties. (c) 2005 Elsevier B.V All rights reserved.

Controlling the Eccentricity of Polar Lunar Orbits with Low-Thrust Propulsion

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Scalar resonances in leptophilic multi-Higgs-boson models

We show that the Higgs resonance can be amplified in a 3-3-1 model with a multi-Higgs-boson leptophilic scalar sector. This would allow the observation of the Higgs particle in muon colliders even for Higgs boson masses considerably higher than the ones expected to be seen in the electroweak standard model framework. ©1999 The American Physical Society.

Comment on Majoron emitting neutrinoless double beta decay in the electroweak chiral gauge extensions

We point out that if the Majoron-like scheme is implemented within a 3-3-1 model, there must exist at least three different mass scales for the scalar vacuum expectation values in the model. ©1999 The American Physical Society.

Left-right asymmetries and exotic vector-boson discovery in lepton-lepton colliders

By considering left-right (L-R) asymmetries we study the capabilities of lepton colliders in searching for new exotic vector bosons. Specifically we study the effect of a doubly charged bilepton boson and an extra neutral vector boson appearing in a 3-3-1 model on the L-R asymmetries for the processes e-e- → e-e-, μ-μ- → μ-μ- and e-μ- → e-μ- and show that these asymmetries are very sensitive to these new contributions and that they are in fact powerful tools for discovery of this sort of vector bosons.

Innovation and technology policy (ITP) for catching up: a three phase life cycle framework for industrializing economies

Includes bibliography

Emissions from sugar cane fires in the Central & Western State of São Paulo and aerosol layers over metropolitan São Paulo observed by IPEN's lidar: Is there a connection?

The central and western parts of the State of São Paulo are well-known for vast sugar cane plantations, which during the harvest time are traditionally burnt about 12 hours before manual cutting. This procedure causes the release of large quantities of aerosols and a variety of gases, which can be observed by IPMet's radars, located in Bauru and Presidente Prudente, on days with no or little rain. Depending on the distance of these plumes from the radar, they can be detected up to 5 km amsl or more, and are subsequently being transported by winds to other regions. During the dry winter season of 2008, such plumes, attributed to cane fires, were frequently observed by IPMet's radars and documented in terms of radar reflectivity, time and location during the period 10 th - 21 st July 2008. At the same time, IPEN's Elastic Backscatter Lidar in São Paulo observed layers of aerosols of variable strength and heights above the city. The most significant days, viz. 14 and 15 July 2008 had been selected for calculating backward, as well as forward trajectories, deploying the European Flextra 3.3 Trajectory Model, which was initiated with ECMWF historic data with a 0,25 o×0,25 o grid spacing. The results presented here show an excellent match between the radar-detected sources of the plumes on 11 th July 2008 in the central parts of the State and the observations by IPEN's Lidar over Metropolitan São Paulo on 14 th July 2008, both in terms of forward and backward trajectories, as well as their heights, with a transport duration of approximately 70 hours under the prevailing meteorological conditions. © Sociedad Española de Óptica.