Construction of facilities under asymmetric information: do constitutional constraints matter?

This paper studies construction of facilities in a federal state under asymmetric information. A country consists of two regions, each ruled by a local authority. The federal government plans to construct a facility in one of the regions. The facility generates a local value in the host region and has spillover effects in the other region. The federal government does not observe the local value because it is the local authority's private information. 80 the federal governrnent designs an incentive-compatible mechanism, specifying if the facility should be constructed and a balanced scheme of interregional transfers to finance its cost. The federal governrnent is constitutionally constrained to respect a given leveI of each region's welfare. We show that depending upon the facility's local value and the spillover effect, the governrnent faces different incentive problems. Moreover, their existence depends crucially on how stringent constitutional constraints are. Therefore, the optimal mechanism will also depend upon these three features of the model.

Not delivering as one: asymmetric outcomes in firm-university collaborations

Extant literature examined the benefits of relational embeddedness in facilitating collaboration between organizations, as well as the necessity of firms to balance their knowledge generation into exploration and exploitation activities. However, the effects of relational embeddedness in the specific outputs of firm-university collaborations, as well as the elements that affect the exploratory nature of such outcomes remain underexplored. By examining fine grained data of more than 4.000 collaborative research and development projects by a firm and universities, 5.000 patents, and 300.000 scientific publications, it was proposed that relational embeddedness would have a positive effect on resource commitment and on joint scientific publications, but a negative effect on joint patents and exploratory outcomes resulting of such collaborations. Additionally, it was proposed that knowledge similarity would have a negative impact in exploratory endeavors made in such projects. Although some of the propositions were not supported by the data, this study revealed that relational embeddedness increases resource commitment and the production of joint scientific publications in such partnerships. At last, this study presents interesting opportunities for future research.

Asymmetric preferences in investment decisions in the Brazilian financial market

The main objective of this article is to test the hypothesis that utility preferences that incorporate asymmetric reactions between gains and losses generate better results than the classic Von Neumann-Morgenstern utility functions in the Brazilian market. The asymmetric behavior can be computed through the introduction of a disappointment (or loss) aversion coefficient in the classical expected utility function, which increases the impact of losses against gains. The results generated by both traditional and loss aversion utility functions are compared with real data from the Brazilian market regarding stock market participation in the investment portfolio of pension funds and individual investors.

Asymmetric auctions and risk aversion within independent private valoues

We study tournaments with many ex-ante asymmetric (heterogeneous) contestants as an independent-private-values all-pay auction. The asymmetry is either with respect to the distribution of valuations for the prize or the risk preferences. By characterizing equilibria in tnonotone strategies we show that tournaments \:vith man~y heterogenous contestants are qualitatively distinct. First, with two (or many ex-ante identical) participants, a contestant always exerts some effort with positive probability. In contrast, with many asymmetric participants, one 1night not exert any effort at all, even if there is a positive probability that he has the highest valuation among ali. Second, in tournan1ents with t'wo (o r n1any ex-ante h01nogenous) contestants, equilibrium effort densities are decreasing. This prediction is at odds with experimental evidence that shows the empírica! density might be increasing at high effort levels. V\.lith rnany heterogeneous contestants, however. the increasing bid density is consistent with an equilibrium behavior.

Effects of hot and cold smoking processes on organoleptic properties, yield and composition of matrinxa fillet

Foi avaliado o efeito do processo de defumação a quente (45-90ºC/5 horas) e a frio (27-45ºC/10 horas) nas propriedades organolépticas, no rendimento e na composição dos filés de matrinxã (Brycon cephalus). Não houve diferença significativa no rendimento de filés defumados e não-defumados. As perdas no processo de defumação foram significativamente maiores para defumação a quente (19,37%) em comparação à defumação a frio (17,08%). O processo de defumação reduziu a umidade (in natura = 72,91%; defumado a quente = 58,51%; e defumado a frio = 59,68%) e aumentou os teores de proteína bruta, lipídios e cinzas. Houve diferença significativa somente nos teores de proteína no defumado a quente (28,07%) e defumado a frio (27,14%). O processo a frio resultou em melhor aparência e cor de filé, enquanto o processo a quente melhorou o sabor, o teor de sal e a aparência geral. O aroma e a textura não diferiram significativamente entre os processos. O processo de defumação a quente melhora as propriedades organolépticas e os níveis de proteína do filé de matrinxã.

Influence of levels and forms of selenium associated with levels of vitamins C and E on the performance, yield and composition of tilapia fillet

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Asymmetric post-natal development of superior cervical ganglion of paca (Agouti paca)

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

Pulsed Nd:YAG laser seam welding of AISI 316L stainless steel thin foils

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Search for charge-asymmetric production of W ' bosons in t(t)over-bar + jet events from pp collisions at root s=7 TeV

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Asymmetric exclusion model with impurities

An integrable asymmetric exclusion process with impurities is formulated. The model displays the full spectrum of the stochastic asymmetric XXZ chain plus new levels. We derive the Bethe equations and calculate the spectral gap for the totally asymmetric diffusion at half filling. While the standard asymmetric exclusion process without impurities belongs to the KPZ universality class with an exponent 3/2, our model has a scaling exponent 5/3.

Asymmetric microbial reduction of ketones: absolute configuration of trans-4-ethyl-1-(1S-hydroxyethyl)cyclohexanol

A set of five fungal species, Botrytis cinerea, Trichoderma viride and Eutypa lata, and the endophytic fungi Colletotrichum crassipes and Xylaria sp., was used in screening for microbial biocatalysts to detect monooxygenase and alcohol dehydrogenase activities (for the stereoselective reduction of carbonyl compounds). 4-Ethylcyclohexanone and acetophenone were biotransformed by the fungal set. The main reaction pathways involved reduction and hydroxylations at several positions including tertiary carbons. B. cinerea was very effective in the bioreduction of both substrates leading to the chiral alcohol (S)-1-phenylethanol in up to 90% enantiomeric excess, and the cis-trans ratio for 4-ethylcyclohexanol was 0:100. trans-4-Ethyl-1-(1S-hydroxyethyl)cyclohexanol, obtained from biotransformation by means of an acyloin-type reaction, is reported here for the first time. The absolute configurations of the compounds trans-4-ethyl-1-(1S-hydroxyethyl)cyclohexanol and 4-(1S- and 4-(1R-hydroxyethyl)cyclohexanone were determined by NMR analysis of the corresponding Mosher's esters. (C) 2009 Elsevier Ltd. All rights reserved.

Influência da energia de soldagem em uniões de lâminas finas através de laser pulsado de Nd:YAG

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Variable influence of ferric and cupric ions on Saccharomyces cerevisiae strains used in asymmetric organic synthesis.

Fe (III) and Cu (II) each at 50 mu M in four commercial strains of Saccharomyces cerevisiae induced an increase of NAD(P)(+) reduction in one strain (Turkish), but two others (Chilean and Brazilian), the presence of Fe(III) and/or Cu(II) diminished NAD(P)(+) reduction presumably due to free radicals formation inside these living cells. Suprisingly, in the American strain, Fe(III) induced a decrease and Cu (II) an increase of NAD(P)(+) reduction.

The high-eccentricity asymmetric expansion of the disturbing function for non-planar resonant problems

In this paper we present an extension to the nonplanar case of the asymmetric expansion of the averaged resonant disturbing function of Ferraz-Mello & Sato (1989, A&A 225, 541-547). Comparions with the exact averaged disturbing function are also presented. The expansion gives a good approximation of the exact function in a wide region around the center of expansion.

Resonance and chaos .2. Exterior resonances and asymmetric libration

The motion of a test particle in the vicinity of exterior resonances is examined in the context of the planar, circular, restricted three-body problem. The existence of asymmetric periodic orbits associated with the 1 : n resonances (where n = 2, 3, 4, 5) is confirmed; there is also evidence of asymmetric resonances associated with larger values of n. A detailed examination of the evolution of the family of orbits associated with the 1:2 resonance shows the sequence that leads to asymmetric libration. on the basis of numerical studies of the phase space it is concluded that the existence of asymmetric libration means that the region exterior to the perturbing mass is more chaotic than the interior region. The apparent absence of 'particles' in 1 : n resonances in the solar system may reflect this inherent bias.