Asymmetric preferences in investment decisions in the Brazilian financial market

The main objective of this article is to test the hypothesis that utility preferences that incorporate asymmetric reactions between gains and losses generate better results than the classic Von Neumann-Morgenstern utility functions in the Brazilian market. The asymmetric behavior can be computed through the introduction of a disappointment (or loss) aversion coefficient in the classical expected utility function, which increases the impact of losses against gains. The results generated by both traditional and loss aversion utility functions are compared with real data from the Brazilian market regarding stock market participation in the investment portfolio of pension funds and individual investors.

Life expectancy and human capital investment: the arrival of AIDS treatment in Brazil

This paper provides microevidence on the relationship between life expectancy and educational investment decisions. Human capital theory predicts an increase in life expectancy should lead to an augmenting in schooling investment. This paper uses an unique data set on AIDS patients among Brazilian inhabitants in an attempt to estimate the impact of the arrival of Antiretroviral therapy (ART) on educational outcomes. The availability of ART offsets the negative relationship between vertical HIV-transmission and schooling, around 68% and 57% for elementary and high school completion, respectively. Robustness tests indicate the results are not driven by convergence effects.

Chronic disease burden and human capital investment: evidence from the chagas disease campaign in Brazil

We investigate the effects of augmented life expectancy and health improvements on human capital investment, labor supply and fertility decisions. Our main motivation is the prediction of human capital theory that a longer and healthier life encourages educational investment and female labor force participation, while discouraging fertility. To assess the magnitude of these effects, we explore a national campaign against Chagas disease in Brazil as an exogenous source of adult mortality decline and improvement in health conditions. We show that, relative to non-endemic areas, previously endemic regions saw higher increases in educational investment, measured by literacy, school attendance and years of schooling, following the campaign. Additionally, we find that labor force participation increased in high prevalence areas relative to low prevalence ones. Furthermore, we estimate a substantially higher effect on female labor force participation relative to male, suggesting that longevity gains and health improvements affected women's incentives to work, encouraging women to join the labor force. We do not find significant effects on fertility decisions.

Investment recovery period in electric motor of higher efficiency in pumping for irrigation

Neste trabalho, ajustou-se um modelo matemático para quantificar o efeito do rendimento do motor elétrico sobre os custos de um sistema de bombeamento para irrigação na estrutura tarifária de energia elétrica convencional e horo-sazonal verde, bem como calcular o tempo de recuperação do capital investido no equipamento de maior rendimento. em seguida, o mesmo foi aplicado a um sistema de irrigação tipo pivô central em duas opções de rendimento do motor elétrico: 92,6% (linha padrão) e 94,3% (linha alto rendimento), sendo que o custo de aquisição do primeiro correspondeu a 70% do segundo. A potência do motor elétrico era de 100 cv. Os resultados mostraram que o modelo permitiu avaliar se um motor de alto rendimento era viável economicamente em relação ao motor-padrão em cada estrutura tarifária. Nas duas estruturas tarifárias, o motor de alto rendimento não foi viável. Na tarifa horo-sazonal verde, somente seria viável se seu rendimento fosse 4,46% superior ao do motor-padrão. Na tarifa convencional, somente seria viável se o ganho de rendimento superasse 2,71%.

Contribuições do Programa Institucional de Bolsas de Iniciação Científica (PIBIC) para a formação do aluno de psicologia

The undergraduate courses in Psychology have been historically pointed as defective in aspects related to the critical education and the integration between theory and practice. Hence, the scientific education has been considered a possibility to overcome those lacks. Therefore, this study has investigated the undergraduate education process of Psychology students with PIBIC (Portuguese acronym for Undergraduate Scientific Research Scholarships Institutional Program) scholarships from CNPq (Portuguese acronym Brazilian National Council of Scientific and Technological Development). The scholarship program has been a strategic tool for the undergraduate scientific research. Electronic questionnaires have been sent to all the PIBIC scholarship students of Psychology in Brazil (622; 104 have answered), containing questions about the program developed activities, tutoring and advising, PIBIC evaluation and other ones. The students scientific and academic production has also been investigated through their Lattes (CNPq s Platform in which researchers have their academic résumés). The major part of the participants (70%) has stated that the first motivation to be in the program had been their interest in the research or in the academic career. Furthermore, 60% of the scholarship students has worked as volunteers before receiving PIBIC scholarship. Among the students who have answered the research, 65,4% has reported they are tutored directly by their advisors, and 80% of them attends one or more than one advising meeting every fifteen days. It has been identified that the Psychology scholarship students do not participate in all the research activities and that the proximity with the advisor is related to the accomplishment of tasks which contributes with the student critical and reflexive education. Finally, less than 25% of the students has published scientific articles or book chapters during the scholarship, what XI demonstrates a possible exclusion of them in that phase of the process. In general, the scholarship students evaluate the program positively by revealing that it contributes with their professional and academic education. For those reasons, it is observed PIBIC s potential role for the undergraduate education in order to develop more critical psychologists able to propose innovations and contextualized practices. However, the results obtained in programs like the studied one denounce the disqualification of the provided undergraduate education for the major part of the university students, who do not have a PIBIC scholarship. As a result, it is emphasized that it there should be more investment for improving the quality of the undergraduate education itself and not only for programs which are available for few students

Influence of Investment, Disinfection, and Storage on the Microhardness of Ocular Resins

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

The Effect of Coating Patterns with Spinel-Based Investment on the Castability and Porosity of Titanium Cast into Three Phosphate-Bonded Investments

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

IMPROVEMENT TO THE MARGINAL COPING FIT of COMMERCIALLY PURE TITANIUM CAST IN PHOSPHATE-BONDED INVESTMENT BY USING A SIMPLE PATTERN COATING TECHNIQUE

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

Frugivory on Margaritaria nobilis L.f. (Euphorbiaceae): poor investment and mimetism.

Dehiscent fruits of Euphorbiaceae usually have two stages of seed dispersal, autochory followed by myrmecochory. Two stages of Margaritaria nobilis seed dispersal were described, the first stage autochoric followed by ornithocoric. Their dehiscent fruits are green and after they detached from the tree crown and fall on the ground, they open and expose blue metallic cocas. We studied the seed dispersal system of Margaritaria nobilis in a semi-deciduous forest in Brazil. In 80 h of focal observations, we recorded only 12 visits of frugivores, however the thrush Turdus leucomelas was the only frugivore that swallowed the fruits on the tree crown. Pitylus fuliginosus (Fringilidae) and Pionus maximiliani (Psittacidae) were mainly pulp eaters, dropping the seeds below the tree. on the forest floor, after fruits dehiscence, jays (Cyanocorax chrysops), guans (Penelope superciliaris), doves (Geotrygon montana) and collared-peccaries (Pecari tajacu) were observed eating the blue diaspores of M. nobilis. Experiments in captivity showed that scaly-headed parrots (Pionus maximiliani), toco toucans (Ramphastos toco), jays (Cyanochorax chrysops), and guans (Penelope superciliaris) consumed the fruits and did not prey on the seeds before consumption. The seeds collected from the feces did not germinate in spite of the high viability. The two stages of seed dispersal in M. nobilis resembles the dispersal strategies of some mimetic species. However M. nobilis seeds are associated with an endocarp, it showed low investment in nutrients, and consistent with this hypothesis, M. nobilis shared important characteristics with mimetic fruits, such as bright color display, long seed dormancy and protection by secondary compounds.

The effect of mold temperature on castability of CPTi and Ti-6Al-4V castings into phosphate bonded investment materials

Objective. The aim of this study was to evaluate the castability of CP titanium and Ti-6Al-4V alloy castings into Rematitan Plus investment at three different mold temperatures.Methods. A nylon mesh pattern (20 mm with 64 squares and wire of 0.7 mm in diameter) was used for the castability testing. Initially, an image of the wax pattern was obtained by means of a digital camera and the total extension of filaments (mm) was then measured, using the Leica Qwin image analysis system. The mesh sprued was placed in the Rematitan Plus investment material and the castings were made in a Discovery Plasma machine at three different mold temperatures: 430 degrees C (control group), 480 degrees C or 530'C. Ten castings were made for each temperature. The images of the castings were analyzed (Leica Qwin) and the castability index determined by the number of the completely cast segments as a percentage of the wax pattern. Data were analyzed by two-way ANOVA and Tukey's multiple comparison test (a = 0.05) using materials and temperatures as discriminating variables.Results. The Ti-6Al-4V alloy (60.86%) presented a better castability index than CP Ti (48.44%) (p < 0.000001). For CP Ti, the temperature of 530 degrees C (23.96%) presented better castability than at other temperatures, 480 degrees C (14.66%) and 430 degrees C (12.54%), with no difference between them (p < 0.001). For Ti-6Al-4V alloy, there was a statistically significant difference among the three temperatures: 530 degrees C (28.36%) > 480 degrees C (19.66%) > 430 degrees C (15.97%) (p < 0.002).Significance. Within the limitations of this study, the increase in the mold temperature of the Rematitan Plus investment resulted in a better castability index for both materials, and Ti-6Al-4V presented a better castability index than CP Ti. (c) 2005 Academy of Dental Materials. Published by Elsevier Ltd. All rights reserved.

Size-fecundity relationships and reproductive investment in female frogs in the Pantanal, south-western Brazil

The ovarian complement of anurans exhibiting different reproductive modes is highly diverse, and intraspecific variation in reproductive output of anurans is generally related to variation in female properties and/or environmental conditions. The size-fecundity relationships, reproductive investment, and correlation between ovary mass and fat body mass were investigated for females of an anuran assemblage in the Pantanal, Brazil. Female body size was positively correlated with clutch size among seven of the eight species analyzed. However, these results seem to be influenced by seasonal variation in fecundity. Interspecific size-fecundity relationships revealed that female SVL was positively correlated with clutch size and egg size regardless of reproductive mode. Among 11 species analyzed, the reproductive investment (RI: ovary mass relative to body mass) varied from 5.5 to 18%, and there were no differences among reproductive modes and activity patterns (explosive/prolonged). RI correlated negatively with female size. Among three Leptodactylus species examined, negative correlation between ovary mass and fat body mass was verified for two species. Variations in the reproductive strategies are closely related to the reproductive activity patterns and reproductive modes exhibited by individual species, but are also influenced by environmental conditions. However, regardless of reproductive mode or activity pattern, each species seems to exhibit a reproductive strategy that allows them to respond differently to the same environmental restrictions.

Influence of the final temperature of investment healting on the tensile strength and Vickers hardness of CP TI and TI-6AL-4V alloy

The aim of the work was to evaluate the influence of the temperature of investment healting on the tensile strength and Vickers hardness of CP Ti and Ti-6Al-4V alloy casting. Were obtained for the tensile strength test dumbbell rods that were invested in the Rematitan Plus investment and casting in the Discovery machine cast. Thirty specimens were obtained, fiftten to the CP Titanium and fifteen to the Ti-6Al-4V alloy, five samples to each an of the three temperatures of investment: 430°C (control group), 480°C and 530°C. The tensile test was measured by means of a universal testing machine, MTS model 810, at a strain of 1.0 mm/min. After the tensile strenght test the specimens were secctioned, embedded and polished to hardness measurements, using a Vickers tester, Micromet 2100. The means values to tensile tests to the temperatures 430°C, 480 and 530: CP Ti (486.1 - 501.16 - 498.14 -mean 495.30 MPa) and Ti-6Al-4V alloy (961.33 - 958.26 - 1005.80 - mean 975.13 MPa) while for the Vickers hardness the values were (198.06, 197.85, 202.58 - mean 199.50) and (352.95, 339.36, 344.76 - mean 345.69), respectively. The values were submitted to Analysis of Variance (ANOVA) and Tukey' s Test that indicate differences significant only between the materials, but not between the temperature, for both the materias. It was conclued that increase of the temperature of investment its not chance the tensile strength and the Vickers hardness of the CP Titanium and Ti-6Al-4V alloy.

Tendencias y cambios en la inversión de las empresas internacionales en los países en desarrollo y particularmente en América Latina = Trends and changes in the investment of transnational corporations in the developing countries and particularly in Latin America

Incluye Bibliografía

Stimulus of demand, investment and acceleration of the rate of growth

Includes bibliography