Risk pricing practices in finance, insurance and construction

A review of current risk pricing practices in the financial, insurance and construction sectors is conducted through a comprehensive literature review. The purpose was to inform a study on risk and price in the tendering processes of contractors: specifically, how contractors take account of risk when they are calculating their bids for construction work. The reference to mainstream literature was in view of construction management research as a field of application rather than a fundamental academic discipline. Analytical models are used for risk pricing in the financial sector. Certain mathematical laws and principles of insurance are used to price risk in the insurance sector. construction contractors and practitioners are described to traditionally price allowances for project risk using mechanisms such as intuition and experience. Project risk analysis models have proliferated in recent years. However, they are rarely used because of problems practitioners face when confronted with them. A discussion of practices across the three sectors shows that the construction industry does not approach risk according to the sophisticated mechanisms of the two other sectors. This is not a poor situation in itself. However, knowledge transfer from finance and insurance can help construction practitioners. But also, formal risk models for contractors should be informed by the commercial exigencies and unique characteristics of the construction sector.

Healable Polymer Systems

Polymers are used in many everyday technologies and their degradation due to environmental exposure has lead to great interest in materials which can heal and repair themselves. In order to design new self healing polymers it's important to understand the fundamental healing mechanisms behind the material.Healable Polymer Systems will outline the key concepts and mechanisms underpinning the design and processing of healable polymers, and indicate potential directions for progress in the future development and applications of these fascinating and potentially valuable materials. The book covers the different techniques developed successfully to date for both autonomous healable materials (those which do not require an external stimulus to promote healing) and rehealable or remendable materials (those which only recover their original physical properties if a specific stimulus is applied). These include the encapsulated-monomer approach, reversible covalent bond formation, irreversible covalent bond formation and supramolecular self-assembly providing detailed insights into their chemistry.Written by leading experts, the book provides polymer scientists with a compact and readily accessible source of reference for healable polymer systems.

Clusters, connectivity and catch-up: Bollywood and Bangalore in the Global Economy

In this article, we make two important contributions to the literature on clusters. First, we provide a broader theory of cluster connectivity that has hitherto focused on organization-based pipelines and MNE subsidiaries, by including linkages in the form of personal relationships. Second, we use the lens of social network theory to derive a number of testable propositions. We propose that global linkages with decentralized network structures have the highest potential for local spillovers. In the emerging economy context, our theory implies that clusters linked to the global economy by decentralized pipelines have potential for in-depth catch-up, focused in industry and technology scope. In contrast, clusters linked through decentralized personal relationships have potential for in-breadth catch-up over a range of related industries and technologies. We illustrate our theoretical propositions by contrasting two emerging economy case studies: Bollywood, the Indian filmed entertainment cluster in Mumbai and the Indian software cluster in Bangalore.

Stakeholder perceptions of event attribution in the loss and damage debate

In 2013 the Warsaw International Mechanism (WIM) for loss and damage (L&D) associated with climate change impacts was established under the United Nations Framework Convention on Climate Change (UNFCCC). For scientists, L&D raises ques- tions around the extent that such impacts can be attributed to anthropogenic climate change, which may generate complex results and be controversial in the policy arena. This is particularly true in the case of probabilistic event attribution (PEA) science, a new and rapidly evolving field that assesses whether changes in the probabilities of extreme events are attributable to GHG emissions. If the potential applications of PEA are to be considered responsibly, dialogue between scientists and policy makers is fundamental. Two key questions are considered here through a literature review and key stakeholder interviews with representatives from the science and policy sectors underpinning L&D. These provided the opportunity for in-depth insights into stakeholders’ views on firstly, how much is known and understood about PEA by those associated with the L&D debate? Secondly, how might PEA inform L&D and wider climate policy? Results show debate within the climate science community, and limited understanding among other stakeholders, around the sense in which extreme events can be attributed to climate change. However, stake- holders do identify and discuss potential uses for PEA in the WIM and wider policy, but it remains difficult to explore precise applications given the ambiguity surrounding L&D. This implies a need for stakeholders to develop greater understandings of alternative conceptions of L&D and the role of science, and also identify how PEA can best be used to support policy, and address associated challenges.

Green roof retrofit potential in the central business district

Purpose – The purpose of this paper is to illustrate the potential for green roof retrofit to commercial buildings in a city centre to property managers and other property professionals.

Design/methodology/approach – This paper addresses the research question: what is the potential of existing buildings in the CBD to accommodate a retrofitted green roof? Furthermore, it questions how many buildings are suitable for green roofs? The researchers compile a unique building database incorporating information about 536 commercial buidings and evaluate the potential suitability of each building to undergo a green roof retrofit. Assisted by other commercially available databases and software, the researchers are able to assess each roof based on criteria derived from an extensive literature review.

Findings – A relatively small proportion of roofs are found to be suitable, partly a result of local climate conditions and rainfall patterns, and the physical property stock. On a purely physical assessment, only a very small proportion of CBD stock is found to be suited. These buildings are most likely to be in low secondary locations, ungraded or B grade buildings, privately owned, concrete framed and not overshadowed by adjoining properties.

Practical implications – Property managers and other property professionals can now determine the potential of their portfolio stock for green roof retrofit based on the review of building attributes required for success adaptation in this paper. It possible that greater potential for green roof retrofit exists in the suburbs or regional towns where lower rise buildings may reduce the amount of overshadowing found in city centres. Follow-up research could focus on a comparison of regional and suburban developments.

Originality/value – This is the first study of its kind and has assessed such a large number of buildings for their suitability for green roof retrofit; the findings provide a reliable guide for policymakers regarding the potential number of city centre buildings which would be possible to retrofit. Such findings should influence policymaking and incentives to target effective sustainability policies with regards to existing buildings.

Evaluation of the in vivo mutagenic potential of hydroalcoholic extracts of the northern highbush blueberry (Vaccinium corymbosum L. Ericales, Ericaceae) on peripheral blood cells of Swiss mice (Mus musculus Rodentia, Muridae)

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

The influence of fermentation time and the presence of salts in the rheology of the fermentation broth of a polysaccharide-producing bacteria free of soil

Rheological studies were carried out in the fermentation broth of a polysaccharide-producing microorganism free of soil. This microorganism was designated 4B. The bacteria 4B was inoculated in the fermentation broth, which consisted of a carbon source and mineral salts, and it was incubated in a rotating agitator at 30 degreesC for 72 h at 210 rpm. A rheometer of concentric cylinders equipped with a thermostatic bath was used and the readings were taken at 25 degreesC. A study was made of the influence of the fermentation time and the readings were made after 24, 48 and 72 h of incubation, using, separately, sucrose and glucose as carbon sources. The influence of the salt concentrations was determined in each carbon source; the salts used were NaCl, KCl and CaCl2 in the concentrations of 0.4%, 1.0%, 2.0% and 3.0%. It was observed that the fermentation broth behaves as a non-Newtonian fluid and it presents pseudoplastic behaviour. Calculations were made of the flow behaviour index (n) and the consistency index (k) of the samples after 24, 48 and 72 h of fermentation, and it was observed that the 72 h sample presented higher k and consequently higher apparent viscosity. of the carbon sources used, the sucrose presented higher viscous broths after 24 and 48 h, and the glucose after 72 h of fermentation. With relation to the effect of the addition of salts, the CaCl2 presented a higher influence on the viscosity of the fermentation broths. (C) 2001 Elsevier B.V. Ltd. All rights reserved.

The Dirac-Hestenes equation for spherical symmetric potentials in the spherical and Cartesian gauges

In this paper, using the apparatus of the Clifford bundle formalism, we show how straightforwardly solve in Minkowski space-time the Dirac-Hestenes equation - which is an appropriate representative in the Clifford bundle of differential forms of the usual Dirac equation - by separation of variables for the case of a potential having spherical symmetry in the Cartesian and spherical gauges. We show that, contrary to what is expected at a first sight, the solution of the Dirac-Hestenes equation in both gauges has exactly the same mathematical difficulty. © World Scientific Publishing Company.

Comparison of Botanical Composition, Soil Carbon Content, and Root Distribution of Subirrigated Meadows in The Nebraska Sandhills

Characterizing vegetation composition, carbon/nitrogen (C/N) content of soils, and root-mass distribution is critical to understanding carbon sequestration potential of subirrigated meadows in the Nebraska Sandhills. Five subirrigated meadows dominated by cool-season (C3) graminoids and five meadows dominated by warm-season (C4) grasses were selected throughout the Nebraska Sandhills. Vegetation, soil carbon and nitrogen, and root-mass density distribution were sampled in each meadow. Meadows dominated by C3 vegetation had 12% greater (P < 0.1) yields than meadows dominated by C4 vegetation. Total root-mass density was 30% greater (P < 0.1) in C4-dominated meadows than C3-dominated meadows. Total carbon and nitrogen content was 65% and 53% greater (P < 0.1), respectively, in the A horizon of C3-dominated meadows, but was 43% and 52% greater (P < 0.1), respectively, in the C horizon of C4-dominated meadows. Although meadows dominated by C3 vegetation had more carbon in the soil profile, much of the carbon in C3-dominated meadows appeared to be recalcitrant C4 carbon from historic vegetation.

Campaigning Against Europe? The Role of Euroskeptic Fringe and Mainstream Parties in the 2009 European Parliament Election

In this article, we analyze political parties' campaign communication during the 2009 European Parliamentary election in 11 countries (Austria, Bulgaria, Czech Republic, Germany, Hungary, The Netherlands, Poland, Portugal, Spain, Sweden, and the UK). We study which types of issues Euroskeptic fringe and Euroskeptic mainstream parties put on their campaign agendas and the kind and extent of EU opposition they voice. Further, we seek to understand whether Euroskeptic and non-Euroskeptic parties co-orient themselves toward each other within their national party systems with regard to their campaigns. To understand the role of Euroskeptic parties in the 2009 European Parliamentary elections, we draw on a systematic content analysis of parties' posters and televised campaign spots. Our results show that it is Euroskeptic parties at the edges of the political spectrum who discuss polity questions of EU integration and who most openly criticize the union. Principled opposition against the project of EU integration, however, can only be observed in the UK. Finally, we find indicators for co-orientation effects regarding the tone of EU mobilization: In national political environments where Euroskeptic parties strongly criticize the EU, pro-European parties at the same time publicly advance pro-EU positions.

AN ELECTROPHYSIOLOGICAL ANALYSIS OF THE AMYGDALOID AND SUBICULAR PROJECTIONS TO THE VENTROMEDIAL NUCLEUS OF THE HYPOTHALAMUS IN THE RABBIT

Electrophysiological experiments were performed on 96 male New Zealand white rabbits, anesthetized with urethane. Glass electrodes, filled with 2M NaCl, were used for microstimulation of three fiber pathways projecting from "limbic" centers to the ventromedial nucleus of the hypothalamus (VMH). Unitary and field potential recordings were made in the VMH after stimulation.^ Stimulation of the lateral portion of the fimbria, which carries fibers from the ventral subiculum of the hippocampal formation, evokes predominantly an inhibition of neurons medially in the VMH, and excitation of neurons located laterally.^ Stimulation of the dorsal portion of the stria terminalis, which carries fibers from the cortical nucleus of the amygdala, also produces predominantly an inhibition of cells medially and excitation laterally.^ Stimulation of the ventral component of the stria terminalis, which carries fibers from the medial nucleus of the amygdala, evokes excitation of cell medially, with little or no response seen laterally.^ Cells recorded medially in the VMH received convergent inputs from each of the three fiber systems: inhibition from fimbria and dorsal stria stimulation, excitation from ventral stria stimulation.^ The excitatory unitary responses recorded medially to ventral stria stimulation and laterally to fimbria and dorsal stria stimulation were subjected to a series of threshold stimulus intensities. From these tests it was determined that each of these three projections terminates monosynaptically on VMH neurons.^ The evidence for convergence upon single VMH neurons of projections from the amygdala and the hippocampal formation suggests this area of the brain to be important for integration of information from these two limbic centers. The VMH has been implied in a number of behavioral states: eating, reproduction, defense and aggression; it has further been linked to control of the anterior pituitary. These data provide a functional circuit through which the amygdaloid complex and the hippocampal formation can channel information from higher cortical centers into a hypothalamic area capable of coordinating behavioral and hormonal responses. ^

Triple-helix formation in the antiparallel binding motif of oligodeoxynucleotides containing N(9)- and N(7)-2-aminopurine deoxynucleosides

Triplex-forming oligodeoxynucleotide 15mers, designed to bind in the antiparallel triple-helical binding motif, containing single substitutions (Z) of the four isomeric alphaN(7)-, betaN(7)-, alphaN(9)- and betaN(9)-2-aminopurine (ap)-deoxyribonucleosides were prepared. Their association with double-stranded DNA targets containing all four natural base pairs (X-Y) opposite the aminopurine residues was determined by quantitative DNase I footprint titration in the absence of monovalent metal cations. The corresponding association constants were found to be in a rather narrow range between 1.0 x 10(6) and 1.3 x 10(8) M(-1). The following relative order in Z x X-Y base-triple stabilities was found: Z = alphaN(7)ap: T-A > A-T> C-G approximately G-C; Z = betaN(7)ap: A-T > C-G > G-C > T-A; Z = alphaN(9)ap: A-T = G-C > T-A > C-G; and Z = betaN(9)ap: G-C > A-T > C-G > T-A

Climate-pollen relationships AD 1901-1996 in two small mires near the forest limit in the northern and central Swiss Alps

Climatic relationships were established in two 210Pb dated pollen sequences from small mires closely surrounded by forest just below actual forest limits (but about 300 m below potential climatic forest limits) in the northern Swiss Alps (suboceanic in climate; mainly with Picea) and the central Swiss Alps (subcontinental; mainly Pinus cembra and Larix) at annual or near-annual resolution from ad 1901 to 1996. Effects of vegetational succession were removed by splitting the time series into early and late periods and by linear detrending. Both pollen concentrations detrended by the depth-age model and modified percentages (in which counts of dominant pollen types are down-weighted) are correlated by simple linear regression with smoothed climatic parameters with one-and two-year timelags, including average monthly and April/September daylight air temperatures and with seasonal and annual precipitation sums. Results from detrended pollen concentrations suggest that peat accumulation is favoured in the northern-Alpine mire either by early snowmelt or by summer precipitation, but in the central-Alpine mire by increased precipitation and cooler summers, suggesting a position of the northern-Alpine mire near the upper altitudinal limit of peat formation, but of the central-Alpine mire near the lower limit. Results from modified pollen percentages indicate that pollen pro duction by plants growing near their upper altitudinal limit is limited by insufficient warmth in summer, and pollen production by plants growing near their lower altitudinal limit is limited by too-high temperatures. Only weakly significant pollen/climate relationships were found for Pinus cembra and Larix, probably because they experience little climatic stress growing 300 m below the potential climatic forest limit.