Sequential cost-reimbursement rules

This paper studies cost-sharing rules under dynamic adverse selection. We present a typical principal-agent model with two periods, set up in Laffont and Tirole's (1986) canonical regulation environment. At first, when the contract is signed, the firm has prior uncertainty about its efficiency parameter. In the second period, the firm learns its efficiency and chooses the level of cost-reducing effort. The optimal mechanism sequentially screens the firm's types and achieves a higher level of welfare than its static counterpart. The contract is indirectly implemented by a sequence of transfers, consisting of a fixed advance payment based on the reported cost estimate, and an ex-post compensation linear in cost performance.

Corporate governance and its influence on the investment decision process of equity market's professionals: An inside view of how corporate governance issues influence the decision-making process of sell-side and buy-side professionals when analyzing Brazilian listed companies

Corporate governance has been in the spotlight for the past two decades, being subject of numerous researches all over the world. Governance is pictured as a broad and diverse theme, evolving through different routes to form distinct systems. This scenario together with 2 types of agency problems (investor vs. management and minorities vs. controlling shareholders) produce different definitions for governance. Usually, studies investigate whether corporate governance structures influence firm performance, and company valuation. This approach implies investors can identify those impacts and later take them into consideration when making investment decisions. However, behavioral finance theory shows that not always investors take rational decisions, and therefore the modus operandi of those professionals needs to be understood. So, this research aimed to investigate to what extent Brazilian corporate governance standards and practices influence the investment decision-making process of equity markets' professionals from the sell-side and buy-side. This exploratory study was carried out through qualitative and quantitative approaches. In the qualitative phase, 8 practitioners were interviewed and 3 dimensions emerged: understanding, pertinence and practice. Based on the interviews’ findings, a questionnaire was formulated and distributed to buy-siders and sell-siders that cover Brazilian stocks. 117 respondents from all over the world contributed to the study. The data obtained were analyzed through structural equation modeling and descriptive statistics. The 3 dimensions became 5 constructs: definition (institutionalized governance, informal governance), pertinence (relevance), practice (valuation process, structured governance assessment) The results of this thesis suggest there is no definitive answer, as the extent to which governance will influence an investment decision process will depend on a number of circumstances which compose the context. The only certainty is the need to present a “corporate governance behavior”, rather than simply establishing rules and regulations at firm and country level.

Análise dos indicadores de qualidade versus taxa de abandono utilizando método de regressão múltipla para serviço de banda larga

Telecommunication is one of the most dynamic and strategic areas in the world. Many technological innovations has modified the way information is exchanged. Information and knowledge are now shared in networks. Broadband Internet is the new way of sharing contents and information. This dissertation deals with performance indicators related to maintenance services of telecommunications networks and uses models of multivariate regression to estimate churn, which is the loss of customers to other companies. In a competitive environment, telecommunications companies have devised strategies to minimize the loss of customers. Loosing customers presents a higher cost than obtaining new ones. Corporations have plenty of data stored in a diversity of databases. Usually the data are not explored properly. This work uses the Knowledge Discovery in Databases (KDD) to establish rules and new models to explain how churn, as a dependent variable, are related to a diversity of service indicators, such as time to deploy the service (in hours), time to repair (in hours), and so on. Extraction of meaningful knowledge is, in many cases, a challenge. Models were tested and statistically analyzed. The work also shows results that allows the analysis and identification of which quality services indicators influence the churn. Actions are also proposed to solve, at least in part, this problem

Modelo de programação linear para seleção de pulverizadores agrícolas de barras

A seleção de pulverizadores agrícolas que se adaptem às necessidades da propriedade, é um processo trabalhoso, sendo uma das etapas mais importantes dentro do processo produtivo. O objetivo do presente trabalho foi o de desenvolver e utilizar um modelo de programação linear para auxiliar na seleção de pulverizadores agrícolas de barras, baseado no menor custo horário do equipamento. Foram utilizadas as informações técnicas referentes a 20 modelos de pulverizadores disponíveis no mercado, sendo quatro autopropelidos, oito de arrasto e oito do tipo montado. A análise de sensibilidade dos componentes dos custos operacionais mostrou que as taxas de reparo e depreciação foram os fatores que mais interferiram na variação do custo horário do conjunto trator-pulverizador. O modelo matemático desenvolvido facilitou a realização da análise de sensibilidade que foi processada em um tempo muito pequeno.

An extension of the linear delta expansion to superspace

We introduce and discuss the method of linear delta expansion for the calculation of effective potentials in superspace, by adopting the improved version of the super-Feynman rules. Calculations are carried out up to two loops and an expression for the optimized Kahler potential in the Wess-Zumino model is worked out.

Linear delta expansion applied to the O'Raifeartaigh model

We reassess the method of the linear delta expansion for the calculation of effective potentials in superspace, by adopting the improved version of the super-Feynman rules in the framework of the O'Raifeartaigh model for spontaneous supersymmetry breaking. The effective potential is calculated using both the fastest apparent convergence and the principle of minimal sensitivity criteria and the consistency and efficacy of the method are checked in deriving the Coleman-Weinberg potential.

Combinação linear ponderada na definição de áreas prioritárias à conectividade entre fragmentos florestais em ambiente SIG

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Hq(4) symmetry: the linear q-harmonic oscillator based on generalized irreps of the q-deformed Heisenberg algebra

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Multiobjective linear model for pre-feasibility design of cogeneration systems

This article deals with some methodologies for economic and technical evaluations of cogeneration projects proposed by several authors. A discussion on design philosophy applied to thermal power plants leads to the decision problem of a conflicting, multiobjective formulation that includes the most important parameters. This model is formulated to help decision makers and designers in choosing compromise values for included parameters. (C) 1997 Elsevier B.V. Ltd.

A linear optimization approach to the combined production planning model

Two fundamental processes usually arise in the production planning of many industries. The first one consists of deciding how many final products of each type have to be produced in each period of a planning horizon, the well-known lot sizing problem. The other process consists of cutting raw materials in stock in order to produce smaller parts used in the assembly of final products, the well-studied cutting stock problem. In this paper the decision variables of these two problems are dependent of each other in order to obtain a global optimum solution. Setups that are typically present in lot sizing problems are relaxed together with integer frequencies of cutting patterns in the cutting problem. Therefore, a large scale linear optimizations problem arises, which is exactly solved by a column generated technique. It is worth noting that this new combined problem still takes the trade-off between storage costs (for final products and the parts) and trim losses (in the cutting process). We present some sets of computational tests, analyzed over three different scenarios. These results show that, by combining the problems and using an exact method, it is possible to obtain significant gains when compared to the usual industrial practice, which solve them in sequence. (C) 2010 The Franklin Institute. Published by Elsevier Ltd. All rights reserved.

Towards an intelligent graphical interface for linear programming modelling

The increase of computing power of the microcomputers has stimulated the building of direct manipulation interfaces that allow graphical representation of Linear Programming (LP) models. This work discusses the components of such a graphical interface as the basis for a system to assist users in the process of formulating LP problems. In essence, this work proposes a methodology which considers the modelling task as divided into three stages which are specification of the Data Model, the Conceptual Model and the LP Model. The necessity for using Artificial Intelligence techniques in the problem conceptualisation and to help the model formulation task is illustrated.

Extended Hierarchical Censored Production Rules (EHCPRs) system: An approach toward generalized knowledge representation

One common problem in all basic techniques of knowledge representation is the handling of the trade-off between precision of inferences and resource constraints, such as time and memory. Michalski and Winston (1986) suggested the Censored Production Rule (CPR) as an underlying representation and computational mechanism to enable logic based systems to exhibit variable precision in which certainty varies while specificity stays constant. As an extension of CPR, the Hierarchical Censored Production Rules (HCPRs) system of knowledge representation, proposed by Bharadwaj & Jain (1992), exhibits both variable certainty as well as variable specificity and offers mechanisms for handling the trade-off between the two. An HCPR has the form: Decision If(preconditions) Unless(censor) Generality(general_information) Specificity(specific_information). As an attempt towards evolving a generalized knowledge representation, an Extended Hierarchical Censored Production Rules (EHCPRs) system is suggested in this paper. With the inclusion of new operators, an Extended Hierarchical Censored Production Rule (EHCPR) takes the general form: Concept If (Preconditions) Unless (Exceptions) Generality (General-Concept) Specificity (Specific Concepts) Has_part (default: structural-parts) Has_property (default:characteristic-properties) Has_instance (instances). How semantic networks and frames are represented in terms of an EHCPRs is shown. Multiple inheritance, inheritance with and without cancellation, recognition with partial match, and a few default logic problems are shown to be tackled efficiently in the proposed system.

A Markov random field model for combining optimum-path forest classifiers using decision graphs and game strategy approach

The research on multiple classifiers systems includes the creation of an ensemble of classifiers and the proper combination of the decisions. In order to combine the decisions given by classifiers, methods related to fixed rules and decision templates are often used. Therefore, the influence and relationship between classifier decisions are often not considered in the combination schemes. In this paper we propose a framework to combine classifiers using a decision graph under a random field model and a game strategy approach to obtain the final decision. The results of combining Optimum-Path Forest (OPF) classifiers using the proposed model are reported, obtaining good performance in experiments using simulated and real data sets. The results encourage the combination of OPF ensembles and the framework to design multiple classifier systems. © 2011 Springer-Verlag.

Restauração florestal visando à conservação de recursos hídricos por meio da combinação linear ponderada

This study evaluated using of Multicriteria Evaluation in a GIS, specifically by Weighted Linear Combination Method for generation of map of priority areas for forest restoration in the initial part of River Pardo Basin, SP, in order to water resources conservation. Aiming to define criteria and restrictions it was used Participatory Techniques, and the following factors had been selected: proximity of the hydrographic network, proximity of forest cover, slope and erodibility of soil. To calculate the weight to each factor it was used the decision-making process, known as Analytic Hierarchy Analysis, this method consists of a paired comparison of factors to determine the relative importance of each. According to Weighted Linear Combination, the very high priority areas have a more limited spatial distribution, with an apparent concentration around the water bodies, outlining a buffer to the river system. The proximity factor of the hydrographic network, and enables the connection forestry, contributed, along with the factor of proximity to forest cover, so there would be the definition of most of the areas with the highest priority in the basin, which concentrate the largest areas of forest and native riparian areas along the hydrographic.

Formulação não linear de ração para frangos de corte: modelagem e otimização

Pós-graduação em Ciência Animal - FMVA