The new economy: Essays in network economics and two-sided markets

Following the Introduction, which surveys existing literature on the technology advances and regulation in telecommunications and on two-sided markets, we address specific issues on the industries of the New Economy, featured by the existence of network effects. We seek to explore how each one of these industries work, identify potential market failures and find new solutions at the economic regulation level promoting social welfare. In Chapter 1 we analyze a regulatory issue on access prices and investments in the telecommunications market. The existing literature on access prices and investment has pointed out that networks underinvest under a regime of mandatory access provision with a fixed access price per end-user. We propose a new access pricing rule, the indexation approach, i.e., the access price, per end-user, that network i pays to network j is function of the investment levels set by both networks. We show that the indexation can enhance economic efficiency beyond what is achieved with a fixed access price. In particular, access price indexation can simultaneously induce lower retail prices and higher investment and social welfare as compared to a fixed access pricing or a regulatory holidays regime. Furthermore, we provide sufficient conditions under which the indexation can implement the socially optimal investment or the Ramsey solution, which would be impossible to obtain under fixed access pricing. Our results contradict the notion that investment efficiency must be sacrificed for gains in pricing efficiency. In Chapter 2 we investigate the effect of regulations that limit advertising airtime on advertising quality and on social welfare. We show, first, that advertising time regulation may reduce the average quality of advertising broadcast on TV networks. Second, an advertising cap may reduce media platforms and firms' profits, while the net effect on viewers (subscribers) welfare is ambiguous because the ad quality reduction resulting from a regulatory cap o¤sets the subscribers direct gain from watching fewer ads. We find that if subscribers are sufficiently sensitive to ad quality, i.e., the ad quality reduction outweighs the direct effect of the cap, a cap may reduce social welfare. The welfare results suggest that a regulatory authority that is trying to increase welfare via regulation of the volume of advertising on TV might necessitate to also regulate advertising quality or, if regulating quality proves impractical, take the effect of advertising quality into consideration. 3 In Chapter 3 we investigate the rules that govern Electronic Payment Networks (EPNs). In EPNs the No-Surcharge Rule (NSR) requires that merchants charge at most the same amount for a payment card transaction as for cash. In this chapter, we analyze a three- party model (consumers, merchants, and a proprietary EPN) with endogenous transaction volumes and heterogenous merchants' transactional benefits of accepting cards to assess the welfare impacts of the NSR. We show that, if merchants are local monopolists and the network externalities from merchants to cardholders are sufficiently strong, with the exception of the EPN, all agents will be worse o¤ with the NSR, and therefore the NSR is socially undesirable. The positive role of the NSR in terms of improvement of retail price efficiency for cardholders is also highlighted.

Genome-scale metabolic network reconstruction of Polaromonas sp. strain JS666: analysis of cDCE degradation rates and design of experiments for bioremediation improvement

Release of chloroethene compounds into the environment often results in groundwater contamination, which puts people at risk of exposure by drinking contaminated water. cDCE (cis-1,2-dichloroethene) accumulation on subsurface environments is a common environmental problem due to stagnation and partial degradation of other precursor chloroethene species. Polaromonas sp. strain JS666 apparently requires no exotic growth factors to be used as a bioaugmentation agent for aerobic cDCE degradation. Although being the only suitable microorganism found capable of such, further studies are needed for improving the intrinsic bioremediation rates and fully comprehend the metabolic processes involved. In order to do so, a metabolic model, iJS666, was reconstructed from genome annotation and available bibliographic data. FVA (Flux Variability Analysis) and FBA (Flux Balance Analysis) techniques were used to satisfactory validate the predictive capabilities of the iJS666 model. The iJS666 model was able to predict biomass growth for different previously tested conditions, allowed to design key experiments which should be done for further model improvement and, also, produced viable predictions for the use of biostimulant metabolites in the cDCE biodegradation.

A bet on macro

Equity research report

An equity wealth preservation strategy: Following the macro trend

Financial crisis have happened in the past and will continue to do so in the future. In the most recent 2008 crisis, global equities (as measured by the MSCI ACWI index) lost a staggering 54.2% in USD, on the year. During those periods wealth preservation becomes at the top of most investor’s concerns. The purpose of this paper is to develop a strategy that protects the investment during bear markets and significant market corrections, generates capital appreciation, and that can support Millennium BCP’s Wealth Management Unit on their asset allocation procedures. This strategy extends the Dual Momentum approach introduced by Gary Antonacci (2014) in two ways. First, the investable set of securities in the equities space increases from two to four. Besides the US it will comprise the Japanese, European (excl. UK) and EM equity indices. Secondly, it adds a volatility filter as well as three indicators related to the business cycle and the state of the economy, which are relevant to decide on the strategy’s exposure to equities. Overall the results attest the resiliency of the strategy before, during and after historical financial crashes, as it drastically reduces the downside exposure and consistently outperforms the benchmark index by providing higher mean returns with lower variance.

Correlação entre macro e nanopartículas emitidas em fumos de soldadura MAG de aços inoxidáveis com diferentes gases de protecção

A soldadura é o processo mais utilizado na ligação de materiais. Os efeitos na saúde dos trabalhadores expostos a fumos de soldadura estão normalmente associados a danos pulmonares agudos e crónicos, mas também a outras condições médicas e doenças. O principal objectivo deste estudo foi correlacionar as emissões de macro e nanopartículas libertadas durante o processo de soldadura MIG/MAG de aços inoxidáveis com diferentes gases de protecção. Usando diferentes misturas gasosas utilizadas industrialmente com diferentes entregas térmicas, determinaram-se taxas de formação de fumos e áreas superficiais de nanopartículas com capaciade de deposição alveolar por volume pulmonar. Verificou-se como os diferentes modos de transferências e tipos de protecção gasosa, em particular, a percentagem de elementos activos na composição química do gás, afectam a quantidade de fumos gerados bem como a existência de nanopartículas com uma elevada capacidade de deposição alveolar. O modo de transferência por spray apresenta sempre valores superiores de área de superfície das partículas por volume pulmonar, ao contrário da taxa de formação de fumos. A mistura 82% Ar + 18% gera maiores emissões de nanopartículas bem como de fumos formados. A extracção na fonte e a regeneração do ar ambiente são a solução mais segura e eficiente de controlo das emissões de macro e nanopartículas em soldadura.

VARIAÇÃO SAZONAL DOS MACRO E MICROELEMENTOS NO GÊNERO HUMIRIANTHERA (ICACINACEAE), EM FUNÇÃO DA IDADE

Foram analisados 26 espécimens de H. amplae 09 de H. rupestris,nas idades jovem e adulta, coletados nas estações seca e chuvosa, quanto ao teor total de N, F, K, Ca, Mg, Mo, Cu, Zn, Mn, Fe, B, Al, Co, Cr, Na, Pb, Si e Sr nas diferentes partes vegetativas das plantas. A concentração dos macro elementos nas folhas, caules e tubérculos de H. amplae H. rupeetrisobedece a relação N> Ca> Mg> F> K. A concentração média desses elementos indica que não há variabilidade significativa nos órgãos analisados e nem em relação às idades, com exceção do N que apresenta maior teor nas folhas e em relação aos outros elementos. Os microelementos apresentam uma distribuição uniforme nos diversos órgãos, sendo os de maior concentração Fe, Al e Na. Nesse estudo foi possível verificar o equílibrio mineral entre as espécies, pelos elementos e pelas relações K/Na, K/Mg, K/Ca + Mg + 100/Mn + 10/Cu. Análise dos resultados mostra que nas espécies pesquisadas não houve um equilibrio perfeito nas várias relações, com exceção de K/Ca + Mg. Analisou-se os solos onde as plantas se desenvolveram quanto aos teores totais dos macro e microelementos.

Masonry macro-block analysis

The structural analysis involves the definition of the model and selection of the analysis type. The model should represent the stiffness, the mass and the loads of the structure. The structures can be represented using simplified models, such as the lumped mass models, and advanced models resorting the Finite Element Method (FEM) and Discrete Element Method (DEM). Depending on the characteristics of the structure, different types of analysis can be used such as limit analysis, linear and non-linear static analysis and linear and non-linear dynamic analysis. Unreinforced masonry structures present low tensile strength and the linear analyses seem to not be adequate for assessing their structural behaviour. On the other hand, the static and dynamic non-linear analyses are complex, since they involve large time computational requirements and advanced knowledge of the practitioner. The non-linear analysis requires advanced knowledge on the material properties, analysis tools and interpretation of results. The limit analysis with macro-blocks can be assumed as a more practical method in the estimation of maximum load capacity of structure. Furthermore, the limit analysis require a reduced number of parameters, which is an advantage for the assessment of ancient and historical masonry structures, due to the difficult in obtaining reliable data.

Towards effective control of P2P traffic aggregates in network infrastructures

Nowadays, many P2P applications proliferate in the Internet. The attractiveness of many of these systems relies on the collaborative approach used to exchange large resources without the dependence and associated constraints of centralized approaches where a single server is responsible to handle all the requests from the clients. As consequence, some P2P systems are also interesting and cost-effective approaches to be adopted by content-providers and other Internet players. However, there are several coexistence problems between P2P applications and In- ternet Service Providers (ISPs) due to the unforeseeable behavior of P2P traffic aggregates in ISP infrastructures. In this context, this work proposes a collaborative P2P/ISP system able to underpin the development of novel Traffic Engi- neering (TE) mechanisms contributing for a better coexistence between P2P applications and ISPs. Using the devised system, two TE methods are described being able to estimate and control the impact of P2P traffic aggregates on the ISP network links. One of the TE methods allows that ISP administrators are able to foresee the expected impact that a given P2P swarm will have in the underlying network infrastructure. The other TE method enables the definition of ISP friendly P2P topologies, where specific network links are protected from P2P traffic. As result, the proposed system and associated mechanisms will contribute for improved ISP resource management tasks and to foster the deployment of innovative ISP-friendly systems.

Automated network resilience optimization using computational intelligence methods

This paper presents an automated optimization framework able to provide network administrators with resilient routing configurations for link-state protocols, such as OSPF or IS-IS. In order to deal with the formulated NP-hard optimization problems, the devised framework is underpinned by the use of computational in- telligence optimization engines, such as Multi-objective Evolutionary Algorithms (MOEAs). With the objective of demonstrating the framework capabilities, two il- lustrative Traffic Engineering methods are described, allowing to attain routing con- figurations robust to changes in the traffic demands and maintaining the network stable even in the presence of link failure events. The presented illustrative results clearly corroborate the usefulness of the proposed automated framework along with the devised optimization methods.

Modeling microbes: New methods for integrated metabolic and regulatory network reconstruction

PhD Thesis in Bioengineering

Quantificação de macro e micro nutrientes em algumas etnovariedades de cubiu (Solanum sessiliflorum Dunal)

Considerando a ampla variabilidade genética de cubiu (Solanum sessiliflorum Dunal), quantificaram-se os macro e micro-nutrientes, objetivando a ampliação da tabela de composição química de alimentos típicos da região amazônica. Os frutos provenientes da Estação Experimental de Hortaliças Alejo von der Pahlen (EEH) do Instituto Nacional de Pesquisas da Amazônia (INPA), localizados no km 14 da Rodovia AM 010 em Manaus, AM, foram processados no Laboratório de Alimentos e Nutrição do INPA. Avaliaram-se oito etnovariedades de cubiu identificados como: 2 I, 3 I, 6, 7, 12, 14, 17, 29 I e III em estádio de maturação comercial. Os teores de elementos minerais foram quantificados pela técnica de Ativação por Nêutrons Instrumental e a fibra alimentar pelo método enzímico-gravimétrico. Os resultados demonstram ser o cubiu um fruto com baixo conteúdo energético (média de 33 kcal), com conteúdo de fibra alimentar total na ordem de 1,6%. Em relação aos macros elementos minerais, a etnovariedade 6, apresentou a maior concentração em potássio (513,5±3,1mg), cálcio (18,9±0,6mg) e a etnovariedade 2 I em Fe (564,4±58,1µg) e Cr (99,3±8,3µg). A menor concentração foi constatada na etnovariedade 12 para os elementos K (229,0±4,5mg), Na (53,7±5,5µg) e Zn (89,3±4,7µg). Apesar das variações em relação as diferentes etno variedades e conseqüentemente concentrações em elementos minerais, o cubiu, pode estar contribuindo para atingir as recomendações desses nutrientes.

Macro-nutrientes no lençol freático em Floresta Intacta, Floresta de Manejo e Pastagem no norte de Mato Grosso

A remoção de uma cobertura florestal e sua substituição por outras formas de uso do solo tem sido uma constante no norte do estado de Mato Grosso podendo alterar os ciclos hidrológicos e biogeoquímicos dos ecossistemas. Neste contexto, o presente trabalho visou identificar a variação do fósforo e nitrogênio das águas do lençol freático em áreas de Floresta de Transição madura e intacta (Floresta Intacta), Floresta de Transição Manejada (Floresta Manejada) e Pastagem localizadas no norte de Mato Grosso. Foram realizadas mensalmente medidas do nível do lençol freático, de coletas de amostras de água para análises físico-químicas e medições de precipitação e temperatura do ar, no período de janeiro/2005 a novembro/2006. Verificou-se uma sazonalidade na precipitação e na temperatura do ar. No período de estiagem as águas do lençol freático apresentaram maiores teores de nitrogênio e de fósforo total nas três áreas em estudo. Os maiores valores de nitrogênio e fósforo foram detectados nos ecossistemas florestais (Florestas Intacta e Manejada) como indicativo da função da cobertura vegetal na ciclagem dos nutrientes.

Abstract computation in schizophrenia detection through artificial neural network based systems

Schizophrenia stands for a long-lasting state of mental uncertainty that may bring to an end the relation among behavior, thought, and emotion; that is, it may lead to unreliable perception, not suitable actions and feelings, and a sense of mental fragmentation. Indeed, its diagnosis is done over a large period of time; continuos signs of the disturbance persist for at least 6 (six) months. Once detected, the psychiatrist diagnosis is made through the clinical interview and a series of psychic tests, addressed mainly to avoid the diagnosis of other mental states or diseases. Undeniably, the main problem with identifying schizophrenia is the difficulty to distinguish its symptoms from those associated to different untidiness or roles. Therefore, this work will focus on the development of a diagnostic support system, in terms of its knowledge representation and reasoning procedures, based on a blended of Logic Programming and Artificial Neural Networks approaches to computing, taking advantage of a novel approach to knowledge representation and reasoning, which aims to solve the problems associated in the handling (i.e., to stand for and reason) of defective information.

Thrombophilia screening: An artificial neural network approach

Thrombotic disorders have severe consequences for the patients and for the society in general, being one of the main causes of death. These facts reveal that it is extremely important to be preventive; being aware of how probable is to have that kind of syndrome. Indeed, this work will focus on the development of a decision support system that will cater for an individual risk evaluation with respect to the surge of thrombotic complaints. The Knowledge Representation and Reasoning procedures used will be based on an extension to the Logic Programming language, allowing the handling of incomplete and/or default data. The computational framework in place will be centered on Artificial Neural Networks.

Differential activation of the default mode network in jet lagged individuals

Long-term exposure to transmeridian flights has been shown to impact cognitive functioning. Nevertheless, the immediate effects of jet lag in the activation of specific brain networks have not been investigated. We analyzed the impact of short-term jet lag on the activation of the default mode network (DMN). A group of individuals who were on a transmeridian flight and a control group went through a functional magnetic resonance imaging acquisition. Statistical analysis was performed to test for differences in the DMN activation between groups. Participants from the jet lag group presented decreased activation in the anterior nodes of the DMN, specifically in bilateral medial prefrontal and anterior cingulate cortex. No areas of increased activation were observed for the jet lag group. These results may be suggestive of a negative impact of jet lag on important cognitive functions such as introspection, emotional regulation and decision making in a few days after individuals arrive at their destination.