Market of resources for virtual enterprise integration

Most definitions of virtual enterprise (VE) incorporate the idea of extended and collaborative outsourcing to suppliers and subcontractors in order to achieve a competitive response to market demands (Webster, Sugden, & Tayles, 2004). As suggested by several authors (Browne & Zhang, 1999; Byrne, 1993; Camarinha-Matos & Afsarmanesh, 1999; Cunha, Putnik, & Ávila, 2000; Davidow & Malone, 1992; Preiss, Goldman, & Nagel, 1996), a VE consists of a network of independent enterprises (resources providers) with reconfiguration capability in useful time, permanently aligned with the market requirements, created to take profit from a specific market opportunity, and where each participant contributes with its best practices and core competencies to the success and competitiveness of the structure as a whole. Even during the operation phase of the VE, the configuration can change, to assure business alignment with the market demands, traduced by the identification of reconfiguration opportunities and continuous readjustment or reconfiguration of the VE network, to meet unexpected situations or to keep permanent competitiveness and maximum performance (Cunha & Putnik, 2002, 2005a, 2005b).

Persistence characteristics in financial prices: evidence from the portuguese stock market returns

The objective of this article is to provide additional knowledge to the discussion of long-term memory, leaning over the behavior of the main Portuguese stock index. The first four moments are calculated using time windows of increasing size and sliding time windows of fixed size equal to 50 days and suggest that daily returns are non-ergodic and non-stationary. Seeming that the series is best described by a fractional Brownian motion approach, we use the rescaled-range analysis (R/S) and the detrended fluctuation analysis (DFA). The findings indicate evidence of long term memory in the form of persistence. This evidence of fractal structure suggests that the market is subject to greater predictability and contradicts the efficient market hypothesis in its weak form. This raises issues regarding theoretical modeling of asset pricing. In addition, we carried out a more localized (in time) study to identify the evolution of the degree of long-term dependency over time using windows 200-days and 400-days. The results show a switching feature in the index, from persistent to anti-persistent, quite evident from 2010.

Licensing in an international market

We study the effects of entry of a foreign firm on domestic welfare in the presence of licensing, when the entrant is technologically superior to the incumbent. We show that foreign entry increases domestic welfare for sufficiently large technological differences between the firms under both fixed-fee licensing and royalty licensing.

How market power affects the behaviour of a pumped storage hydro unit in the day-ahead electricity market?

The integration of large amounts of wind energy in power systems raises important operation issues such as the balance between power demand and generation. The pumped storage hydro (PSH) units are seen as one solution for this issue, avoiding the need for wind power curtailments. However, the behavior of a PSH unit might differ considerably when it operates in a liberalized market with some degree of market power. In this regard, a new approach for the optimal daily scheduling of a PSH unit in the day-ahead electricity market was developed and presented in this paper, in which the market power is modeled by a residual inverse demand function with a variable elasticity. The results obtained show that increasing degrees of market power of the PSH unit correspond to decreasing levels of storage and, therefore, the capacity to integrate wind power is considerably reduced under these circumstances.

Price forecasting in the day-ahead Iberian electricity market using a conjectural variations Arima model

Price forecast is a matter of concern for all participants in electricity markets, from suppliers to consumers through policy makers, which are interested in the accurate forecast of day-ahead electricity prices either for better decisions making or for an improved evaluation of the effectiveness of market rules and structure. This paper describes a methodology to forecast market prices in an electricity market using an ARIMA model applied to the conjectural variations of the firms acting in an electricity market. This methodology is applied to the Iberian electricity market to forecast market prices in the 24 hours of a working day. The methodology was then compared with two other methodologies, one called naive and the other a direct forecast of market prices using also an ARIMA model. Results show that the conjectural variations price forecast performs better than the naive and that it performs slightly better than the direct price forecast.

Short-term electricity prices forecasting in a competetive market by a hybrid Pso-Anfis approach

In this paper, a novel hybrid approach is proposed for electricity prices forecasting in a competitive market, considering a time horizon of 1 week. The proposed approach is based on the combination of particle swarm optimization and adaptive-network based fuzzy inference system. Results from a case study based on the electricity market of mainland Spain are presented. A thorough comparison is carried out, taking into account the results of previous publications, to demonstrate its effectiveness regarding forecasting accuracy and computation time. Finally, conclusions are duly drawn.

The portuguese pharmaceutial market in the near future - A time series exploration approach

Dissertação apresentada como requisito parcial para obtenção do grau de Mestre em Estatística e Gestão de Informação

Designing market-based instruments for biodiversity conservation: learning with the Australian experience and evaluating Portugal's potential

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para a obtenção do grau de Mestre em Engenharia do Ambiente, perfil Gestão de Sistemas Ambientais

Long-term dependence in financial prices: evidence from the Belgian stock market returns

This article aims to contribute to the discussion of long-term dependence, focusing on the behavior of the main Belgian stock index. Non-parametric analyzes of the general characteristics of temporal frequency show that daily returns are non-ergodic and non-stationary. Therefore, we use the rescaled-range analysis (R/S) and the detrended fluctuation analysis (DFA), under the fractional Brownian motion approach, and we found slight evidence of long-term dependence. These results refute the random walk hypothesis with i.i.d. increments, which is the basis of the EMH in its weak form, and call into question some theoretical modeling of asset pricing. Other more localized complementary study, to identify the evolution of the degree of dependence over time windows, showed that the index has become less persistent from 2010. This may mean a maturing market by the extension of the effects of current financial crisis.

Long-term memory in financial prices: evidence from the Dutch stock market returns

Prepared for presentation at the Portuguese Finance Network International Conference 2014, Vilamoura, Portugal, June 18-20

Projecto de investimento imobiliário no edifício residencial no Estoril

Trabalho de Projecto para obtenção do grau de Mestre em Engenharia Civil

Controlo de um sistema domótico KNX

Esta dissertação descreve o estudo, concepção e desenvolvimento de uma aplicação baseada no sistema operativo Windows 8 que interage com um sistema domótico KNX, permitindo ao utilizador controlar a sua instalação domótica. Esta proposta, que combina a área de integração/instalação de sistemas domóticos e a de desenvolvimento de aplicações para Windows 8 e Windows 8 Phone, constitui um desafio particularmente interessante para quem tem experiência profissional nas duas áreas. A domótica surgiu na década de 70 como uma aplicação da eletrónica e das tecnologias da informação às instalações residenciais, comerciais e industriais. Esta nova área desencadeou uma revolução, não só, ao nível da produção e comercialização, mas, também, do ponto de vista do utilizador, ao promover a comodidade, segurança, personalização e o controlo de pessoas e bens. Os smartphones e tablets vieram permitir que o desenvolvimento de aplicações móveis de interacção com os sistemas domóticos. Ao longo desta dissertação são descritas e analisadas as múltiplas áreas de intervenção da domótica assim como as diferentes tecnologias de aplicação e mercados. Também são analisados os sistemas operativos que existentes, as respetivas cotas de mercado e os tipos de dispositivos disponíveis. Por último, a aplicação foi concebida, implementada e testada para verificar a correcta interacção com o sistema domótico KNX e as funcionalidades de controlo da instalação domótica.

Projeto de comportamento térmico, certificação energética e ensaios acústicos

O presente relatório incluído na Unidade Curricular de Dissertação/Projeto/Estágio do Mestrado (DIPRE) em Engenharia Civil do Instituto Superior de Engenharia do Porto (ISEP) e desenvolvido no âmbito do estágio curricular realizado na empresa Asl & Associados, tem como principais objetivos a minha integração no mercado de trabalho e obtenção de experiência profissional. Neste trabalho, serão abordados temas como as introduções teóricas ao Comportamento Térmico e Acústico de Edifícios de Habitação, estudos de casos práticos como o Projeto de Comportamento Térmico de uma grande intervenção, Certificação Energética de edifícios existentes com base no Regulamento de Desempenho Energético dos Edifícios de Habitação e Ensaios Acústicos de Edifícios de acordo com o Regulamento dos Requisitos Acústicos dos Edifícios. O projeto realizado consistiu no estudo do comportamento térmico do edifício na Avenida Marechal Gomes da Costa nº802, no Porto. Nesse estudo realizou-se a verificação das soluções construtivas, por vezes foram propostas alterações das mesmas de modo a verificar os requisitos impostos pelo REH e foi realizada a emissão do seu pré-certificado. A maior parte do período em que decorreu o estágio na empresa foi preenchida com a realização de certificados energéticos de frações autónomas e de moradias. Para a recolha da informação necessária à sua elaboração, foram efetuadas várias vistorias aos imóveis referidos. Foram também efetuados durante o estágio, ensaios acústicos a edifícios de habitação e comércio e elaborado o respetivo relatório de ensaio.

Stochastic Framework for Strategic Decision-making of Load-serving Entities for Day-ahead Market

The deregulation of electricity markets has diversified the range of financial transaction modes between independent system operator (ISO), generation companies (GENCO) and load-serving entities (LSE) as the main interacting players of a day-ahead market (DAM). LSEs sell electricity to end-users and retail customers. The LSE that owns distributed generation (DG) or energy storage units can supply part of its serving loads when the nodal price of electricity rises. This opportunity stimulates them to have storage or generation facilities at the buses with higher locational marginal prices (LMP). The short-term advantage of this model is reducing the risk of financial losses for LSEs in DAMs and its long-term benefit for the LSEs and the whole system is market power mitigation by virtually increasing the price elasticity of demand. This model also enables the LSEs to manage the financial risks with a stochastic programming framework.

Smart Grid Market Using Joint Energy and Ancillary Services Bids

The power systems operation in the smart grid context increases significantly the complexity of their management. New approaches for ancillary services procurement are essential to ensure the operation of electric power systems with appropriate levels of stability, safety, quality, equity and competitiveness. These approaches should include market mechanisms which allow the participation of small and medium distributed energy resources players in a competitive market environment. In this paper, an energy and ancillary services joint market model used by an aggregator is proposed, considering bids of several types of distributed energy resources. In order to improve economic efficiency in the market, ancillary services cascading market mechanism is also considered in the model. The proposed model is included in MASCEM – a multi-agent system electricity market simulator. A case study considering a distribution network with high penetration of distributed energy resources is presented.