A JOINT EXPERIMENTAL ANALYSIS OF INVESTOR BEHAVIOR IN IPO PRICING METHODS

This article jointly examines the differences of laboratory versions of the Dutch clock open auction, a sealed-bid auction to represent book building, and a two-stage sealed bid auction to proxy for the “competitive IPO”, a recent innovation used in a few European equity initial public offerings. We investigate pricing, seller allocation, and buyer welfare allocation efficiency and conclude that the book building emulation seems to be as price efficient as the Dutch auction, even after investor learning, whereas the competitive IPO is not price efficient, regardless of learning. The competitive IPO is the most seller allocative efficient method because it maximizes offer proceeds. The Dutch auction emerges as the most buyer welfare allocative efficient method. Underwriters are probably seeking pricing efficiency rather than seller or buyer welfare allocative efficiency and their discretionary pricing and allocation must be important since book building is prominent worldwide.

Avaliação experimental do comportamento dinâmico de um edifício do século XIX: aplicação à calibração de modelos numéricos

Trabalho de Dissertação de natureza científica para obtenção do grau de Mestre em Engenharia Civil na Área de Especialização em Estruturas

Modelação e monitorização do comportamento dinâmico de barragens abóbada: identificação modal automática

Trabalho Final de Mestrado elaborado no Laboratório de Engenharia Civil (LNEC) para obtenção do grau de Mestre em Engenharia Civil pelo Instituto Superior de Engenharia de Lisboa no âmbito do protocolo de cooperação entre o ISEL e o LNEC

Identificação modal e simulação da resposta sísmica de barragens abóbada

Trabalho Final de Mestrado elaborado no Laboratório Nacional de Engenharia Civil (LNEC) para a obtenção do grau de Mestre em Engenharia Civil pelo Instituto Superior de Engenharia de Lisboa no âmbito do protocolo de cooperação ente o ISEL e o LNEC

Slotted wiDom: schedulability analysis and its experimental validation

WiDom is a wireless prioritized medium access control protocol which offers a very large number of priority levels. Hence, it brings the potential to employ non-preemptive static-priority scheduling and schedulability analysis for a wireless channel assuming that the overhead of WiDom is modeled properly. One schedulability analysis for WiDom has already been proposed but recent research has created a new version of WiDom (we call it: Slotted WiDom) with lower overhead and for this version of WiDom no schedulability analysis exists. In this paper we propose a new schedulability analysis for slotted WiDom and extend it to work also for message streams with release jitter. We have performed experiments with an implementation of slotted WiDom on a real-world platform (MicaZ). We find that for each message stream, the maximum observed response time never exceeds the calculated response time and hence this corroborates our belief that our new scheduling theory is applicable in practice.

The computational role of short-term plasticity and the balance of excitation and inhibition in neural microcircuits: experimental and theoretical analysis

The computations performed by the brain ultimately rely on the functional connectivity between neurons embedded in complex networks. It is well known that the neuronal connections, the synapses, are plastic, i.e. the contribution of each presynaptic neuron to the firing of a postsynaptic neuron can be independently adjusted. The modulation of effective synaptic strength can occur on time scales that range from tens or hundreds of milliseconds, to tens of minutes or hours, to days, and may involve pre- and/or post-synaptic modifications. The collection of these mechanisms is generally believed to underlie learning and memory and, hence, it is fundamental to understand their consequences in the behavior of neurons.(...)

Magnetic flux density distribution in the air gap of a ferromagnetic core with superconducting blocks: three-dimensional analysis and experimental NMR results

The design of magnetic cores can be carried out by taking into account the optimization of different parameters in accordance with the application requirements. Considering the specifications of the fast field cycling nuclear magnetic resonance (FFC-NMR) technique, the magnetic flux density distribution, at the sample insertion volume, is one of the core parameters that needs to be evaluated. Recently, it has been shown that the FFC-NMR magnets can be built on the basis of solenoid coils with ferromagnetic cores. Since this type of apparatus requires magnets with high magnetic flux density uniformity, a new type of magnet using a ferromagnetic core, copper coils, and superconducting blocks was designed with improved magnetic flux density distribution. In this paper, the designing aspects of the magnet are described and discussed with emphasis on the improvement of the magnetic flux density homogeneity (Delta B/B-0) in the air gap. The magnetic flux density distribution is analyzed based on 3-D simulations and NMR experimental results.

Strap repairs using embedded patches: numerical analysis and experimental results

Adhesively bonded repairs offer an attractive option for repair of aluminium structures, compared to more traditional methods such as fastening or welding. The single-strap (SS) and double-strap (DS) repairs are very straightforward to execute but stresses in the adhesive layer peak at the overlap ends. The DS repair requires both sides of the damaged structures to be reachable for repair, which is often not possible. In strap repairs, with the patches bonded at the outer surfaces, some limitations emerge such as the weight, aerodynamics and aesthetics. To minimize these effects, SS and DS repairs with embedded patches were evaluated in this work, such that the patches are flush with the adherends. For this purpose, in this work standard SS and DS repairs, and also with the patches embedded in the adherends, were tested under tension to allow the optimization of some repair variables such as the overlap length (LO) and type of adhesive, thus allowing the maximization of the repair strength. The effect of embedding the patch/patches on the fracture modes and failure loads was compared with finite elements (FE) analysis. The FE analysis was performed in ABAQUS® and cohesive zone modelling was used for the simulation of damage onset and growth in the adhesive layer. The comparison with the test data revealed an accurate prediction for all kinds of joints and provided some principles regarding this technique.

Numerical and Experimental Analysis of Balanced and Unbalanced Adhesive Single-Lap Joints between Aluminium Adherends

The single-lap joint is the most commonly used, although it endures significant bending due to the non-collinear load path, which negatively affects its load bearing capabilities. The use of material or geometric changes is widely documented in the literature to reduce this handicap, acting by reduction of peel and shear peak stresses or alterations of the failure mechanism emerging from local modifications. In this work, the effect of using different thickness adherends on the tensile strength of single-lap joints, bonded with a ductile and brittle adhesive, was numerically and experimentally evaluated. The joints were tested under tension for different combinations of adherend thickness. The effect of the adherends thickness mismatch on the stress distributions was also investigated by Finite Elements (FE), which explained the experimental results and the strength prediction of the joints. The numerical study was made by FE and Cohesive Zone Modelling (CZM), which allowed characterizing the entire fracture process. For this purpose, a FE analysis was performed in ABAQUS® considering geometric non-linearities. In the end, a detailed comparative evaluation of unbalanced joints, commonly used in engineering applications, is presented to give an understanding on how modifications in the bonded structures thickness can influence the joint performance.

Experimental dam-break waves profile analysis: horizontal mobile bed

River Flow, Vol. 2

Análise numérica e experimental de um modelo dinâmico da ponte ferroviária de Antuã

Mestrado em Engenharia Civil – Ramo Estruturas

Earth-based repair mortars: experimental analysis with different binders and natural fibers

RESTAPIA 2012 - Int. Conf. on Rammed Earth Conservation, Valencia, 21-23 June 2012

Experimental analysis of new interfaces for connections by adhesion, interlocking and friction.

The authors thank the federal agency CAPES and the Foundation for Research Support of the state of Sao Paulo, Brazil (FAPESP) for providing a PhD scholarship, and the University of Minho, in Portugal, for the international collaboration.

Experimental analysis of the cyclic response of traditional timber joints and their influence on the seismic capacity of timber frame structures

Timber connections represent the crucial part of a timber structure and a great variability exists in terms of types of connections and mechanisms. Taking as case study the widespread traditional timber frame structures, in particular the Portuguese Pombalino buildings, one of the most common timber connection is the half-lap joint. Connections play a major role in the overall behaviour of a structure, particularly when assessing their seismic response, since damage is concentrated at the connections. For this reason, an experimental campaign was designed and distinct types of tests were carried out on traditional half-lap joints to assess their in-plane response. In particular, pull-out and in-plane cyclic tests were carried out on real scale unreinforced connections. Subsequently, the connections were retrofitted, using strengthening techniques such as self-tapping screws, steel plates and GFRP sheets. The tests chosen were meant to capture the hysteretic behaviour and dissipative capacity of the connections and characterise their response and, therefore, their influence on the seismic response of timber frame walls, particularly concerning their uplifting and rotation capacity, that could lead to rocking in the walls. In this paper, the results of the experimental campaign are presented in terms of hysteretic curves, dissipated energy and equivalent viscous damping ratio. Moreover, recommendations are provided on the most appropriate retrofitting solutions.

Numerical and experimental analysis of full scale arches reinforced with GFRP materials

In this contribution, original limit analysis numerical results are presented dealing with some reinforced masonry arches tested at the University of Minho-UMinho, PT. Twelve in-scale circular masonry arches were considered, reinforced in various ways at the intrados or at the extrados. GFRP reinforcements were applied either on undamaged or on previously damaged elements, in order to assess the role of external reinforcements even in repairing interventions. The experimental results were critically discussed at the light of limit analysis predictions, based on a 3D FE heterogeneous upper bound approach. Satisfactory agreement was found between experimental evidences and the numerical results, in terms of failure mechanisms and peak load.