A roughly smooth optimal consumption path: smoothing the rough annuity puzzle

A inconsistência entre a teoria e o comportamento empírico dos agentes no que tange ao mercado privado de pensões tem se mostrado um dos mais resistentes puzzles presentes na literatura econômica. Em modelos de otimização intertemporal de consumo e poupança sob incerteza em relação ao tempo de vida dos agentes, anuidades são ativos dominantes, anulando ou restringindo fortemente a demanda por ativos cujos retornos não estão relacionados à probabilidade de sobrevivência. Na prática, entretanto, consumidores são extremamente céticos em relação às anuidades. Em oposição ao seguro contra longevidade oferecido pelas anuidades, direitos sobre esses ativos - essencialmente ilíquidos - cessam no caso de morte do titular. Nesse sentido, choques não seguráveis de liquidez e a presença de bequest motives foram consideravelmente explorados como possíveis determinantes da baixa demanda verificada. Apesar dos esforços, o puzzle persiste. Este trabalho amplia a dominância teórica das anuidades sobre ativos não contingentes em mercados incompletos; total na ausência de bequest motives, e parcial, quando os agentes se preocupam com possíveis herdeiros. Em linha com a literatura, simulações numéricas atestam que uma parcela considerável do portfolio ótimo dos agentes seria constituída de anuidades mesmo diante de choques de liquidez, bequest motives, e preços não atuarialmente justos. Em relação a um aspecto relativamente negligenciado pela academia, mostramos que o tempo ótimo de conversão de poupança em anuidades está diretamente relacionado à curva salarial dos agentes. Finalmente, indicamos que, caso as preferências dos agentes sejam tais que o nível de consumo ótimo decaia com a idade, a demanda por anuidades torna-se bastante sensível ao sobrepreço (em relação àquele atuarialmente justo) praticado pela indústria, chegando a níveis bem mais compatíveis com a realidade empírica.

EFFICIENT FAULT LOCATION IN UNDERGROUND DISTRIBUTION SYSTEMS THROUGH OPTIMUM-PATH FOREST

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

An Optimum-Path Forest framework for intrusion detection in computer networks

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

Efficient supervised optimum-path forest classification for large datasets

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

A New Approach for Nontechnical Losses Detection Based on Optimum-Path Forest

Nowadays, fraud detection is important to avoid nontechnical energy losses. Various electric companies around the world have been faced with such losses, mainly from industrial and commercial consumers. This problem has traditionally been dealt with using artificial intelligence techniques, although their use can result in difficulties such as a high computational burden in the training phase and problems with parameter optimization. A recently-developed pattern recognition technique called optimum-path forest (OPF), however, has been shown to be superior to state-of-the-art artificial intelligence techniques. In this paper, we proposed to use OPF for nontechnical losses detection, as well as to apply its learning and pruning algorithms to this purpose. Comparisons against neural networks and other techniques demonstrated the robustness of the OPF with respect to commercial losses automatic identification.

Aplicaçaõ das técnicas Path-relinking e Vocabulary buiding na melhoria de performance do algoritmo memético para o problema do caixeiro viajante assimétrico

The present essay shows strategies of improvement in a well succeded evolutionary metaheuristic to solve the Asymmetric Traveling Salesman Problem. Such steps consist in a Memetic Algorithm projected mainly to this problem. Basically this improvement applied optimizing techniques known as Path-Relinking and Vocabulary Building. Furthermore, this last one has being used in two different ways, in order to evaluate the effects of the improvement on the evolutionary metaheuristic. These methods were implemented in C++ code and the experiments were done under instances at TSPLIB library, being possible to observe that the procedures purposed reached success on the tests done

Design of a simple detection cell with extended optical path length for capillary electrophoresis: Application to multiresidue pesticide analysis

Absorbance detection in capillary electrophoresis (CE), offers an excellent mass sensitivity, but poor concentration detection limits owing to very small injection volumes (normally I to 10 nL). This aspect can be a limiting factor in the applicability of CE/UV to detect species at trace levels, particularly pesticide residues. In the present work, the optical path length of an on-column detection cell was increased through a proper connection of the column (75 mu m i.d.) to a capillary detection cell of 180 mu m optical path length in order to improve detectability. It is shown that the cell with an extended optical path length results in a significant gain in terms of signal to noise ratio. The effect of the increase in the optical path length has been evaluated for six pesticides, namely, carbendazim, thiabendazole, imazalil, procymidone triadimefon, and prochloraz. The resulting optical enhancement of the detection cell provided detection limits of ca. 0.3 mu g/mL for the studied compounds, thus enabling the residue analysis by CE/UV.

The temperature coefficient of the optical path length as a function of the temperature in different optical glasses

An interferometric technique was used to determine the temperature coefficient of the optical path length (dS/dT) as a function of the temperature in several optical glasses. The temperature range was between 25degreesC and 180degreesC. The studied samples included undoped and doped oxide glasses, such as low silica calcium aluminosilicate, phosphates, borates and also chalcogenides. The oxide glasses had dS/dT between 10 X 10(-6) K-1 and 20x10(-6) K-1, while for the chalcogenides, these were around 70 x 10(-6)K(-1). The results showed that dS/dTs increased with the temperature in all samples. For samples doped with Nd the dS/dT values were found to be independent of concentration. on the other hand, for the phosphate glass doped with Cr, dS/dT increased about 5% when compared with the Nd doped one. In conclusion, the used interferometric method, which is a considerably simpler and a lower cost technique, and is a useful tool to measure dS/dT in semi-transparent glasses as a function of the composition and temperature. (C) 2004 Elsevier B.V. All rights reserved.

Inversion in the temperature coefficient of the optical path length close to the glass transition temperature in tellurite glasses

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

NONDEGENERATE UMBILICS, THE PATH FORMULATION and GRADIENT BIFURCATION PROBLEMS

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

Dressed coordinates: the path-integral approach

The recently introduced dressed coordinates are studied in the path-integral approach. These coordinates are defined in the context of a harmonic oscillator linearly coupled to massless scalar field and it is shown that in this model the dressed coordinates appear as a coordinate transformation preserving the path-integral functional measure. The analysis also generalizes the sum rules established in a previous work. (c) 2006 Elsevier B.V. All rights reserved.

Path integrals on a flux cone

This paper considers the Schrodinger propagator on a cone with the conical singularity carrying magnetic flux (flux cone). Starting from the operator formalism, and then combining techniques of path integration in polar coordinates and in spaces with constraints, the propagator and its path integral representation are derived. The approach shows that effective Lagrangian contains a quantum correction term and that configuration space presents features of nontrivial connectivity.

A path integral approach to the full Dicke model with dipole-dipole interaction

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Path integral quantization of generalized quantum electrodynamics

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)