A general lagrangian approach for non-concave moral hazard problems

We establish a general Lagrangian for the moral hazard problem which generalizes the well known first order approach (FOA). It requires that besides the multiplier of the first order condition, there exist multipliers for the second order condition and for the binding actions of the incentive compatibility constraint. Some examples show that our approach can be useful to treat the finite and infinite state space cases. One of the examples is solved by the second order approach. We also compare our Lagrangian with 1\1irrlees'.

Limited liability and non-responsiveness in moral hazard and adverse selection problems

This work analyses the optimal menu of contracts offered by a risk neutral principal to a risk averse agent under moral hazard, adverse selection and limited liability. There are two output levels, whose probability of occurrence are given by agent’s private information choice of effort. The agent’s cost of effort is also private information. First, we show that without assumptions on the cost function, it is not possible to guarantee that the optimal contract menu is simple, when the agent is strictly risk averse. Then, we provide sufficient conditions over the cost function under which it is optimal to offer a single contract, independently of agent’s risk aversion. Our full-pooling cases are caused by non-responsiveness, which is induced by the high cost of enforcing higher effort levels. Also, we show that limited liability generates non-responsiveness.

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.

A note on non-degenerate umbilics and the path formulation for bifurcation problems

Path formulation can be used to classify and structure efficiently multiparameter bifurcation problems around fundamental singularities: the cores. The non-degenerate umbilic singularities are the generic cores for four situations in corank 2: the general or gradient problems and the ℤ 2-equivariant (general or gradient) problems. Those categories determine an interesting 'Russian doll' type of structure in the universal unfoldings of the umbilic singularities. One advantage of our approach is that we can handle one, two or more parameters using the same framework (even considering some special parameter structure, for instance, some internal hierarchy). We classify the generic bifurcations that occur in those cases with one or two parameters.

Treatment of geophysical data as a non-stationary process

ABSTRACT: The Kalman-Bucy method is here analized and applied to the solution of a specific filtering problem to increase the signal message/noise ratio. The method is a time domain treatment of a geophysical process classified as stochastic non-stationary. The derivation of the estimator is based on the relationship between the Kalman-Bucy and Wiener approaches for linear systems. In the present work we emphasize the criterion used, the model with apriori information, the algorithm, and the quality as related to the results. The examples are for the ideal well-log response, and the results indicate that this method can be used on a variety of geophysical data treatments, and its study clearly offers a proper insight into modeling and processing of geophysical problems.

NON-CHROMATOGRAPHIC PURIFICATION OF SYNTHETIC BIO-OLIGOMERS

Synthetic oligonucleotides and peptides have found wide applications in industry and academic research labs. There are ~60 peptide drugs on the market and over 500 under development. The global annual sale of peptide drugs in 2010 was estimated to be $13 billion. There are three oligonucleotide-based drugs on market; among them, the FDA newly approved Kynamro was predicted to have a $100 million annual sale. The annual sale of oligonucleotides to academic labs was estimated to be $700 million. Both bio-oligomers are mostly synthesized on automated synthesizers using solid phase synthesis technology, in which nucleoside or amino acid monomers are added sequentially until the desired full-length sequence is reached. The additions cannot be complete, which generates truncated undesired failure sequences. For almost all applications, these impurities must be removed. The most widely used method is HPLC. However, the method is slow, expensive, labor-intensive, not amendable for automation, difficult to scale up, and unsuitable for high throughput purification. It needs large capital investment, and consumes large volumes of harmful solvents. The purification costs are estimated to be more than 50% of total production costs. Other methods for bio-oligomer purification also have drawbacks, and are less favored than HPLC for most applications. To overcome the problems of known biopolymer purification technologies, we have developed two non-chromatographic purification methods. They are (1) catching failure sequences by polymerization, and (2) catching full-length sequences by polymerization. In the first method, a polymerizable group is attached to the failure sequences of the bio-oligomers during automated synthesis; purification is achieved by simply polymerizing the failure sequences into an insoluble gel and extracting full-length sequences. In the second method, a polymerizable group is attached to the full-length sequences, which are then incorporated into a polymer; impurities are removed by washing, and pure product is cleaved from polymer. These methods do not need chromatography, and all drawbacks of HPLC no longer exist. Using them, purification is achieved by simple manipulations such as shaking and extraction. Therefore, they are suitable for large scale purification of oligonucleotide and peptide drugs, and also ideal for high throughput purification, which currently has a high demand for research projects involving total gene synthesis. The dissertation will present the details about the development of the techniques. Chapter 1 will make an introduction to oligodeoxynucleotides (ODNs), their synthesis and purification. Chapter 2 will describe the detailed studies of using the catching failure sequences by polymerization method to purify ODNs. Chapter 3 will describe the further optimization of the catching failure sequences by polymerization ODN purification technology to the level of practical use. Chapter 4 will present using the catching full-length sequence by polymerization method for ODN purification using acid-cleavable linker. Chapter 5 will make an introduction to peptides, their synthesis and purification. Chapter 6 will describe the studies using the catching full-length sequence by polymerization method for peptide purification.

The timing of extraction of non-restorable first permanent molars: a systematic review.

AIM To identify the ideal timing of first permanent molar extraction to reduce the future need for orthodontic treatment. MATERIALS AND METHODS A computerised database and subsequent manual search was performed using Medline database, Embase and Ovid, covering the period from January 1946 to February 2013. Two reviewers (JE and ME) extracted the data independently and evaluated if the studies matched the inclusion criteria. Inclusion criteria were specification of the follow-up with clinical examination or analysis of models, specification of the chronological age or dental developmental stage at the time of extraction, no treatment in between, classification of the treatment result into perfect, good, average and poor. The search was limited to human studies and no language limitations were set. RESULTS The search strategy resulted in 18 full-text articles, of which 6 met the inclusion criteria. By pooling the data from maxillary sites, good to perfect clinical outcome was estimated in 72% (95% confidence interval 63%-82%). Extractions at the age of 8-10.5 years tended to show better spontaneous clinical outcomes compared to the other age groups. By pooling the data from mandibular sites, extractions performed at the age of 8-10.5 and 10.5-11.5 years showed significantly superior spontaneous clinical outcome with a probability of 50% and 59% likelihood, respectively, to achieve good to perfect clinical result (p<0.05) compared to the other age groups (<8 years of age: 34%, >11.5 years of age: 44%). CONCLUSION Prevention of complications after first permanent molars extractions is an important issue. The overall success rate of spontaneous clinical outcome for maxillary extraction of first permanent molars was superior to mandibular extraction. Extractions of mandibular first permanent molars should be performed between 8 and 11.5 years of age in order to achieve a good spontaneous clinical outcome. For the extraction in the maxilla, no firm conclusions concerning the ideal extraction timing could be drawn.

PSO and neural networks: Optimal combination to solve non linear complex problems

Swarm colonies reproduce social habits. Working together in a group to reach a predefined goal is a social behaviour occurring in nature. Linear optimization problems have been approached by different techniques based on natural models. In particular, Particles Swarm optimization is a meta-heuristic search technique that has proven to be effective when dealing with complex optimization problems. This paper presents and develops a new method based on different penalties strategies to solve complex problems. It focuses on the training process of the neural networks, the constraints and the election of the parameters to ensure successful results and to avoid the most common obstacles when searching optimal solutions.

Discontinuous solutions and boundary value problems for non-linearly elastic fibre-reinforced materials

En este trabajo se han analizado varios problemas en el contexto de la elasticidad no lineal basándose en modelos constitutivos representativos. En particular, se han analizado problemas relacionados con el fenómeno de perdida de estabilidad asociada con condiciones de contorno en el caso de material reforzados con fibras. Cada problema se ha formulado y se ha analizado por separado en diferentes capítulos. En primer lugar se ha mostrado el análisis del gradiente de deformación discontinuo para un material transversalmente isótropo, en particular, el modelo del material considerado consiste de una base neo-Hookeana isótropa incrustada con fibras de refuerzo direccional caracterizadas con un solo parámetro. La solución de este problema se vincula con instabilidades que dan lugar al mecanismo de fallo conocido como banda de cortante. La perdida de elipticidad de las ecuaciones diferenciales de equilibrio es una condición necesaria para que aparezca este tipo de soluciones y por tanto las inestabilidades asociadas. En segundo lugar se ha analizado una deformación combinada de extensión, inación y torsión de un tubo cilíndrico grueso donde se ha encontrado que la deformación citada anteriormente puede ser controlada solo para determinadas direcciones de las fibras refuerzo. Para entender el comportamiento elástico del tubo considerado se ha ilustrado numéricamente los resultados obtenidos para las direcciones admisibles de las fibras de refuerzo bajo la deformación considerada. En tercer lugar se ha estudiado el caso de un tubo cilíndrico grueso reforzado con dos familias de fibras sometido a cortante en la dirección azimutal para un modelo de refuerzo especial. En este problema se ha encontrado que las inestabilidades que aparecen en el material considerado están asociadas con lo que se llama soluciones múltiples de la ecuación diferencial de equilibrio. Se ha encontrado que el fenómeno de instabilidad ocurre en un estado de deformación previo al estado de deformación donde se pierde la elipticidad de la ecuación diferencial de equilibrio. También se ha demostrado que la condición de perdida de elipticidad y ^W=2 = 0 (la segunda derivada de la función de energía con respecto a la deformación) son dos condiciones necesarias para la existencia de soluciones múltiples. Finalmente, se ha analizado detalladamente en el contexto de elipticidad un problema de un tubo cilíndrico grueso sometido a una deformación combinada en las direcciones helicoidal, axial y radial para distintas geotermias de las fibras de refuerzo . In the present work four main problems have been addressed within the framework of non-linear elasticity based on representative constitutive models. Namely, problems related to the loss of stability phenomena associated with boundary value problems for fibre-reinforced materials. Each of the considered problems is formulated and analysed separately in different chapters. We first start with the analysis of discontinuous deformation gradients for a transversely isotropic material under plane deformation. In particular, the material model is an augmented neo-Hookean base with a simple unidirectional reinforcement characterised by a single parameter. The solution of this problem is related to material instabilities and it is associated with a shear band-type failure mode. The loss of ellipticity of the governing differential equations is a necessary condition for the existence of these material instabilities. The second problem involves a detailed analysis of the combined non-linear extension, inflation and torsion of a thick-walled circular cylindrical tube where it has been found that the aforementioned deformation is controllable only for certain preferred directions of transverse isotropy. Numerical results have been illustrated to understand the elastic behaviour of the tube for the admissible preferred directions under the considered deformation. The third problem deals with the analysis of a doubly fibre-reinforced thickwalled circular cylindrical tube undergoing pure azimuthal shear for a special class of the reinforcing model where multiple non-smooth solutions emerge. The associated instability phenomena are found to occur prior to the point where the nominal stress tensor changes monotonicity in a particular direction. It has been also shown that the loss of ellipticity condition that arises from the equilibrium equation and ^W=2 = 0 (the second derivative of the strain-energy function with respect to the deformation) are equivalent necessary conditions for the emergence of multiple solutions for the considered material. Finally, a detailed analysis in the basis of the loss of ellipticity of the governing differential equations for a combined helical, axial and radial elastic deformations of a fibre-reinforced circular cylindrical tube is carried out.

World Missionary Conference, 1910. problems in relation to the non-christian world.> (Vol. 1-9.)

Mode of access: Internet.