Pure strategy equilibria of multidimensional and non-monotonic auctions

We give necessary and sufficient conditions for the existence of symmetric equilibrium without ties in interdependent values auctions, with multidimensional independent types and no monotonic assumptions. In this case, non-monotonic equilibria might happen. When the necessary and sufficient conditions are not satisfied, there are ties with positive probability. In such case, we are still able to prove the existence of pure strategy equilibrium with an all-pay auction tie-breaking rule. As a direct implication of these results, we obtain a generalization of the Revenue Equivalence Theorem. From the robustness of equilibrium existence for all-pay auctions in multidimensional setting, an interpretation of our results can give a new justification to the use of tournaments in practice.

Low cost BIST techniques for linear and non-linear analog circuits

With the ever increasing demands for high complexity consumer electronic products, market pressures demand faster product development and lower cost. SoCbased design can provide the required design flexibility and speed by allowing the use of IP cores. However, testing costs in the SoC environment can reach a substantial percent of the total production cost. Analog testing costs may dominate the total test cost, as testing of analog circuits usually require functional verification of the circuit and special testing procedures. For RF analog circuits commonly used in wireless applications, testing is further complicated because of the high frequencies involved. In summary, reducing analog test cost is of major importance in the electronic industry today. BIST techniques for analog circuits, though potentially able to solve the analog test cost problem, have some limitations. Some techniques are circuit dependent, requiring reconfiguration of the circuit being tested, and are generally not usable in RF circuits. In the SoC environment, as processing and memory resources are available, they could be used in the test. However, the overhead for adding additional AD and DA converters may be too costly for most systems, and analog routing of signals may not be feasible and may introduce signal distortion. In this work a simple and low cost digitizer is used instead of an ADC in order to enable analog testing strategies to be implemented in a SoC environment. Thanks to the low analog area overhead of the converter, multiple analog test points can be observed and specific analog test strategies can be enabled. As the digitizer is always connected to the analog test point, it is not necessary to include muxes and switches that would degrade the signal path. For RF analog circuits, this is specially useful, as the circuit impedance is fixed and the influence of the digitizer can be accounted for in the design phase. Thanks to the simplicity of the converter, it is able to reach higher frequencies, and enables the implementation of low cost RF test strategies. The digitizer has been applied successfully in the testing of both low frequency and RF analog circuits. Also, as testing is based on frequency-domain characteristics, nonlinear characteristics like intermodulation products can also be evaluated. Specifically, practical results were obtained for prototyped base band filters and a 100MHz mixer. The application of the converter for noise figure evaluation was also addressed, and experimental results for low frequency amplifiers using conventional opamps were obtained. The proposed method is able to enhance the testability of current mixed-signal designs, being suitable for the SoC environment used in many industrial products nowadays.

Strategic alliances between companies and non-governmental organizations pursuing the creation of shared value: an exploratory study at the base of the pyramid in Brazil

Na última década, uma crescente atenção tem sido dedicada ao desenvolvimento de estratégias que permitem uma empresa de atender os mercados de baixa renda de uma forma rentável e ao mesmo tempo enfrentar os desafios sociais. Uma das ferramentas estratégicas identificados para operar com sucesso na base da pirâmide ( BoP ), consiste no estabelecimento de alianças com organizações não governamentais (ONGs). Isso, no entanto, é um desafio, especialmente porque os atores do setor empresarial e da sociedade civil são movidos por um propósito diferente e adotam uma abordagem diferente na condução das suas atividades. O objetivo desta pesquisa é, portanto, investigar precisamente como ONGs e empresas podem alavancar os seus respectivos recursos e capacidades para criar valor econômico e social , servindo este segmento. Um estudo de casos múltiplos, com foco na base da pirâmide brasileira é utilizado, a fim de entender as dificuldades e fatores de sucesso para a criação e gestão de tais alianças e identificar os recursos e capacidades que são mobilizados por cada parceiro. Os resultados sugerem que as principais dificuldades estão em encontrar um parceiro adequado; superar percepções estereotipadas negativos e falta de confiança e, finalmente, na diferente estrutura, cultura e processos. Por sua vez, os fatores mais importantes que levam ao sucesso incluem a escolha do parceiro certo; compatibilidade em termos de missão, estratégia e valores; estabelecimento de confiança e comprometimento; comunicação eficaz e, finalmente, a capacidade da aliança de gerar valor para ambos os parceiros. Além disso, os resultados demostram que o papel das ONGs é na maior parte limitado a agir como uma ponte entre a empresa e as comunidades de baixa renda, enquanto as capacidades operacionais e os recursos financeiros são fornecidos pelas empresas.

Performance contrasts during the financial crisis between publicly traded family and non-family firms in Europe

Neste estudo, analiso o desempenho de empresas familiares e não-familiares na Europa, entre 2001 e 2013, com uma especial atenção ao período da crise financeira de 2008 e 2009. Doze anos de dados foram recolhidos e analisadosusando dois modelos: o modelo de ajustamento do mercado e uma técnica de estimativa de painéis. Ao contrário das expectativas, os resultados mostram que as empresas familiares não têm resultados significativamente superiores às empresas não familiares durante o período em análise, inclusive antes, durante, e depois da crise. No entanto, considerando o valor do beta, existem diferenças significativas. É possível concluir que as empresas familiares são, em geral, menos voláteis e que durante a crise apresentaram uma volatilidade extremamente baixa comparativamente com o mercado.JEL

On the optimality of the Friedman Rule with heterogeneous agents and non-linear income taxation

We study the optimal “inflation tax” in an environment with heterogeneous agents and non-linear income taxes. We first derive the general conditions needed for the optimality of the Friedman rule in this setup. These general conditions are distinct in nature and more easily interpretable than those obtained in the literature with a representative agent and linear taxation. We then study two standard monetary specifications and derive their implications for the optimality of the Friedman rule. For the shopping-time model the Friedman rule is optimal with essentially no restrictions on preferences or transaction technologies. For the cash-credit model the Friedman rule is optimal if preferences are separable between the consumption goods and leisure, or if leisure shifts consumption towards the credit good. We also study a generalized model which nests both models as special cases.

The relationships of alternative energies with the technology sector and non-renewable energies

Este trabalho tem como objectivo compreender de que forma os investidores veem as energias renováveis: se as veem como parte do sector tecnológico, à espera de novos desenvolvimentos, ou como uma alternativa aos métodos existentes de produção de energia. Para responder a esta questão, foi desenvolvido um modelo de vectores autoregressivos com quatro variáveis de forma a se poder aplicar um Granger causality test e Impulse Response function. Os resultados sugerem que para o período de 2002-2007 à escala global ambas as hipóteses se confirmam, porém de 2009-2014 os resultados sugerem que os investidores não reconhecem as energias renováveis como um ramo do sector tecnológico, neste período. Para além disso, durante o período de 2009-2014, e quando comparados investidores Americanos com Europeus, os resultados sugerem que apenas o último identifica as energias renováveis como uma fonte viável para a produção energética.

WTO - Market and non market economies: the hybrid case of Chine

This article will discuss the systemic challenges of integrating hybrid economies, and their NME features, into the WTO. It will analyze how the Multilateral Trading System has dealt differently with the issue with the issue during the GATT and the WTO eras. It will then discuss the relationship between NMEs and the principles and rules of the multilateral trading system

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.

Peat humic substances enriched with nutrients for agricultural applications: Competition between nutrients and non-essential metals present in tropical soils

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

A simple and non-destructive model for individual leaf area estimation in citrus

Introduction. Leaf area is often related to plant growth, development, physiology and yield. Many non-destructive models have been proposed for leaf area estimation of several plant genotypes, demonstrating that leaf length, leaf width and leaf area are closely correlated. Thus, the objective of our study was to develop a reliable model for leaf area estimation from linear measurements of leaf dimensions for citrus genotypes. Materials and methods. Leaves of citrus genotypes were harvested, and their dimensions (length, width and area) were measured. Values of leaf area were regressed against length, width, the square of length, the square of width and the product (length x width). The most accurate equations, either linear or second-order polynomial, were regressed again with a new data set; then the most reliable equation was defined. Results and discussion. The first analysis showed that the variables length, width and the square of length gave better results in second-order polynomial equations, while the linear equations were more suitable and accurate when the width and the product (length x width) were used. When these equations were regressed with the new data set, the coefficient of determination (R(2)) and the agreement index 'd' were higher for the one that used the variable product (length x width), while the Mean Absolute Percentage Error was lower. Conclusion. The product of the simple leaf dimensions (length x width) can provide a reliable and simple non-destructive model for leaf area estimation across citrus genotypes.

Intake of isoflavone-supplemented soy yogurt fermented with Enterococcus faecium lowers serum total cholesterol and non-HDL cholesterol of hypercholesterolemic rats

The aim of this study was to obtain an isoflavone-supplemented soy yogurt, fermented with Enterococcus faecium CRL 183 and Lactobacillus helveticus ssp jugurti, with suitable sensory properties and to assess the effects of the final product on blood lipids in hypercholesterolemic rats. Four isoflavone supplementation procedures were tested, in which the isoflavone was added at these stages: (1) before heat-treatment; (2) after heating and before fermentation; (3) after fermentation and (4) in the okara (by-product of soy milk) flour stirred into the fermented product when consumed. The products were subjected to a test of sensory acceptability. To assess their potential hypocholesterolemic properties in vivo, four groups of rats were used: control (C), hypercholesterolemic (H), hypercholesterolemic plus fermented product (HF) and hypercholesterolemic plus isoflavone-supplemented fermented product (HFI). Hypercholesterolemia was induced in rats of groups H, HF and HFI by feeding them on a commercial rat chow to which cholesterol and cholic acid had been added. Total, HDL and non-HDL cholesterol and triglycerides were measured in the blood of the rats. No significant sensorial differences were detected among the samples of soy yogurt supplemented with isoflavones at various processing stages. Rats fed a fermented soy product enriched with isoflavones (HFI group) had significantly (P < 0.05) less serum total cholesterol (15.5%) compared with rats fed a hypercholesterolemic diet (H group). Non-HDL cholesterol was less (P < 0.05) in rats fed a fermented soy product enriched or not with isoflavones (27.4 and 23.2%) compared to H group. The HDL-C and triglyceride concentrations did not differ significantly among the groups. It was possible to obtain an isoflavone-supplemented soy yogurt with satisfactory sensory characteristics. The resulting supplemented soy yogurt was capable of producing a lipid-lowering effect in hypercholesterolemic rats, relative to the animals that did not consume this product.

Presence of autoantibodies against HeLa small nuclear ribonucleoproteins in chagasic and non-chagasic cardiac patients

We detected anti-human small nuclear ribonucleoprotein (snRNP) autoantibodies in chagasic patients by different immunological methods using HeLa snRNPs. ELISA with Trypanosoma cruzi total lysate antigen or HeLa human U small nuclear ribonucleoproteins (UsnRNPs) followed by incubation with sera from chronic chagasic and non-chagasic cardiac patients was used to screen and compare serum reactivity. Western blot analysis using a T. cruzi total cell extract was also performed in order to select some sera for Western blot and immunoprecipitation assays with HeLa nuclear extract. ELISA showed that 73 and 95% of chronic chagasic sera reacted with HeLa UsnRNPs and T. cruzi antigens, respectively. The Western blot assay demonstrated that non-chagasic cardiac sera reacted with high molecular weight proteins present in T. cruzi total extract, probably explaining the 31% reactivity found by ELISA. However, these sera reacted weakly with HeLa UsnRNPs, in contrast to the chagasic sera, which showed autoantibodies with human Sm (from Stefanie Smith, the first patient in whom this activity was identified) proteins (B/B', D1, D2, D3, E, F, and G UsnRNP). Immunoprecipitation reactions using HeLa nuclear extracts confirmed the reactivity of chagasic sera and human UsnRNA/RNPs, while the other sera reacted weakly only with U1snRNP. These findings agree with previously reported data, thus supporting the idea of the presence of autoimmune antibodies in chagasic patients. Interestingly, non-chagasic cardiac sera also showed reactivity with T. cruzi antigen and HeLa UsnRNPs, which suggests that individuals with heart disease of unknown etiology may develop autoimmune antibodies at any time. The detection of UsnRNP autoantibodies in chagasic patients might contribute to our understanding of how they develop upon initial T. cruzi infection.

A Comparison of Deep Drawing and Ironing of Metal Alloy Strip Produced conventionally and Non-conventionally via Semi Solid Material Processing

A semi solid thin strip continuous casting process was used to obtain 50%wt Pb/50%wtSn strip by single and twin roll processing at speed of 15 m/min. A 50%wt Pb/50%wtSn plate ingot was also cast for rolling conventionally into strips of 1.4 mm thickness and 45 mm width for comparison with those achieved non-conventionally. This hypoeutectic alloy has a solidification interval and fusion temperature of approximately 31 degrees C and 215 degrees C respectively. The casting alloy temperature was around 280 degrees C as measured by a type K immersion thermocouple prior to pouring into a tundish designed to maintain a constant melt flow on the cooling slope during semi solid material production. A nozzle with a weir ensures that the semi solid material is dragged smoothly by the lower roll, producing strip with minimum contamination of slag/oxide. The temperatures of the cooling slope and the lower roll were also monitored using K type thermocouples. The coiled semi solid strip, which has a thickness of 1.5 mm and 45 mm width, was rolled conventionally in order to obtain 1.2 mm thick strip. The coiled thixorolled strip had a thickness of 1.2 mm and achieved practically the same width as the conventional strips. Blanks of 40 mm diameter were cut from the strips in a mechanical press, ready for deep drawing and ironing for mechanical characterization. All the strips achieved from non-conventional processing had the same mechanical performance as those achieved conventionally. The limiting drawing ratio (LDR) achieved was approximately 2.0 for all strips. Microscopy examination was made in order to observe phase segregation during processing.

Experimental measurements of the NOx and CO concentrations operating in oscillatory and non-oscillatory burning conditions

The effects of combustion driven acoustic oscillations in carbon monoxide and nitrogen oxides emission rates of a combustor operated with liquefied petroleum gas (LPG) were investigated. Because the fuel does not contain nitrogen, tests were also conducted with ammonia injected in the fuel, in order to study the formation of fuel NOx. The main conclusions were: (a) the pulsating combustion process is more efficient than the non-pulsating one and (b) the pulsating combustion process generates higher rates of NOx, with and without ammonia injection, as shown by CO and NO concentrations as function of the O-2 concentration. An increase in the LPG flow rate, keeping constant the air to fuel ratio, increased the acoustic pressure amplitude and the frequency of oscillation. The injection of ammonia had no influence on either pressure amplitude or frequency. (c) 2005 Elsevier Ltd. All rights reserved.