Valuation of tourism's natural resources

Discusses the implications of the economic valuation of natural resources used for tourism and relates this valuation to the concept of total economic valuation. It demonstrates how applications of the concept of total economic valuation can be supportive of the conservation of natural resources used for tourism. Techniques for valuing tourism’s natural resources are then outlined and critically evaluated. Consideration is given to travel cost methods, contingent valuation methods, and hedonic pricing approaches before concentrating on current developments of valuation techniques, such as choice modelling. The general limitations of existing methods are considered and it is argued that more attention should be given to developing guidelines that will identify ‘optimally imperfect methods’. An overall assessment concludes this article.

Parametric signal regeneration

We present an ultra-high bandwidth all-optical digital signal regeneration device concept utilising non-degenerate parametric interaction in a one-dimensional waveguide. Performance is analysed in terms of re-amplification, re-timing, and re-shaping (including centre frequency correction) of time domain multiplexed signals. Bandwidths of 10-100 THz are achievable. (C) 2001 Published by Elsevier Science B.V.

A Ku-band active transmit-array module with a horn or patch array as a signal launching/receiving device

This paper is concerned with the design of a Ku-band active transmit-array module of transistor amplifiers excited by either a pyramidal horn or a patch array Optimal distances between the active transmit array and the signal-launching:receiving device, which is either a passive corporate-fed array or a horn, are determined to maximise the power gain at a design frequency: Having established these conditions, the complete structure is investigated in terms of operational bandwidth and near-field and far-field distributions measured at the output side of the transmit array, The experimental results show that the use of a corporate-fed array as an illuminating/receiving device gives higher gain and significantly larger operational bandwidth, An explanation for this behavior is sought.

Determination of breeding strategies for beef cattle bull breeders selling bulls into two competing markets on a non-linear price grid

Computer simulation was used to suggest potential selection strategies for beef cattle breeders with different mixes of clients between two potential markets. The traditional market paid on the basis of carcass weight (CWT), while a new market considered marbling grade in addition to CWT as a basis for payment. Both markets instituted discounts for CWT in excess of 340 kg and light carcasses below 300 kg. Herds were simulated for each price category on the carcass weight grid for the new market. This enabled the establishment of phenotypic relationships among the traits examined [CWT, percent intramuscular fat (IMF), carcass value in the traditional market, carcass value in the new market, and the expected proportion of progeny in elite price cells in the new market pricing grid]. The appropriateness of breeding goals was assessed on the basis of client satisfaction. Satisfaction was determined by the equitable distribution of available stock between markets combined with the assessment of the utility of the animal within the market to which it was assigned. The best goal for breeders with predominantly traditional clients was a CWT in excess of 330 kg, while that for breeders with predominantly new market clients was a CWT of between 310 and 329 kg and with a marbling grade of AAA in the Ontario carcass pricing system. For breeders who wished to satisfy both new and traditional clients, the optimal CWT was 310-329 kg and the optimal marbling grade was AA-AAA. This combination resulted in satisfaction levels of greater than 75% among clients, regardless of the distribution of the clients between the traditional and new marketplaces.

Metal-insulator transition and charge ordering in the extended Hubbard model at one-quarter filling

We study, with exact diagonalization, the zero temperature properties of the quarter-filled extended Hubbard model on a square lattice. We find that increasing the ratio of the intersite Coulomb repulsion, V, to the bandwidth drives the system from a metal to a charge ordered insulator. The evolution of the optical conductivity spectrum with increasing V is in agreement with the observed optical conductivity of several layered molecular crystals with the theta and beta crystal structures.

Resistively loaded helical antennas for ground-penetrating radar

Resistively loaded helical antennas, used in the normal mode and horizontally polarised, are modelled using the moment method above typical lossy ground. The distributed resistive loading was adjusted to maintain a two octave bandwidth. The centre frequency of 1 m dipoles was reduced from 250 MHz for the straight resistive wire to 50 MHz for a helix of pitch 2.5 cm and diameter 5 cm. The reduction in efficiency required to maintain the bandwidth for this helix was 12 dB. This agrees reasonably with the theory for small antennas in free space. The results were also verified by comparing measurements performed on a monopole resistively loaded helical antenna in a watertank with the numerical model used elsewhere.

Physical outcome measurements via the Internet: reliability at two Internet speeds

We have developed a software application to enable interactive rehabilitation via the Internet. The reliability of the telemedicine application was examined by comparing it with face-to-face assessment. The physical outcome measures assessed were knee range of motion, quadriceps muscle strength, limb girth and an assessment of gait. One therapist performed both in-person and Internet-based measurements of all outcome measures on 20 normal subjects. There was good agreement between the two techniques (the 95% limits of agreement included zero for all the variables studied). Internet assessments were conducted at two bandwidths: ISDN at 128 kbit/s and the telephone network at 17 kbit/s. Bandwidth had no significant influence on any of the measures. This study suggests that Internet-based physiotherapy interventions delivered to the home are suitable for further development.

Developmental changes in the cone visual pigments of black bream Acanthopagrus butcheri

The spectral absorption characteristics of the visual pigments in the photoreceptors of the black bream Acanthopagrus butcheri Munro (Sparidae, Teleostei), were measured using microspectrophotometry. A single cohort of fish aged 5-172 days post-hatch (dph), aquarium-reared adults and wild-caught juveniles were investigated. During the larval stage and in juveniles younger than 100 dph, two classes of visual pigment were found, with wavelengths of maximum absorbance (lambda(max)) at approximately 425 nm and 535 nm. Following double cone formation, from 40 dph onwards, the short wavelength-sensitive pigment was recorded in single cones and the longer wavelength-sensitive pigment in double cones. From 100 dph, a gradual shift in the lambda(max) towards longer wavelengths was observed in both cone types. By 160 dph, and in adults, all single cones had a lambda(max) at approximately 475 nm while the lambda(max) in double cones ranged from 545 to 575 nm. The relationships between the lambda(max) and the ratio of bandwidth:lambda(max), for changes in either chromophore or opsin, were modelled mathematically for the long-wavelength-sensitive visual pigments. Comparing our data with the models indicated that changes in lambda(max) were not mediated by a switch from an A(1) to A(2) chromophore, rather a change in opsin expression was most likely. The shifts in the lambda(max) of the visual pigments occur at a stage when the juvenile fish begin feeding in deeper, tannin-stained estuarine waters, which transmit predominantly longer wavelengths, so the spectral sensitivity changes may represent an adaptation by the fish to the changing light environment.

Randomized comparison of the quality of realtime fetal ultrasound images transmitted by ISDN and by IP videoconferencing

We compared the quality of realtime fetal ultrasound images transmitted using ISDN and IP networks. Four experienced obstetric ultrasound specialists viewed standard recordings in a randomized trial and rated the appearance of 30 fetal anatomical landmarks, each on a seven-point scale. A total of 12 evaluations were performed for various combinations of bandwidths (128, 384 or 768 kbit/s) and networks (ISDN or IF). The intraobserver coefficient of variation was 2.9%, 5.0%, 12.7% and 14.7% for the four observers. The mean overall ratings by each of the four observers were 4.6, 4.8, 5.0 and 5.3, respectively (a rating of 4 indicated satisfactory visualization and 7 indicated as good as the original recording). Analysis of variance showed that there were no significant interobserver variations nor significant differences in the mean scores for the different types of videoconferencing machines used. The most significant variable affecting the mean score was the bandwidth used. For ISDN, the mean score was 3.7 at 128 kbit/s, which was significantly worse than the mean score of 4.9 at 384 kbit/s, which was in turn significantly worse than the mean score of 5.9 at 768 kbit/s. The mean score for transmission using IP was about 0.5 points lower than that using ISDN across all the different bandwidths, but the differences were not significant. It appears that IP transmission in a private (non-shared) network is an acceptable alternative to ISDN for fetal tele-ultrasound and one deserving further study.

A class B switch-mode assisted linear amplifier

A switch-mode assisted linear amplifier (SMALA) combining a linear (Class B) and a switch-mode (Class D) amplifier is presented. The usual single hysteretic controlled half-bridge current dumping stage is replaced by two parallel buck converter stages, in a parallel voltage controlled topology. These operate independently: one buck converter sources current to assist the upper Class B output device, and a complementary converter sinks current to assist the lower device. This topology lends itself to a novel control approach of a dead-band at low power levels where neither class D amplifier assists, allowing the class B amplifier to supply the load without interference, ensuring high fidelity. A 20 W implementation demonstrates 85% efficiency, with distortion below 0.08% measured across the full audio bandwidth at 15 W. The class D amplifier begins assisting at 2 W, and below this value, the distortion was below 0.03%. Complete circuitry is given, showing the simplicity of the additional class D amplifier and its corresponding control circuitry.

Digitally-implemented naturally sampled PWM suitable for multilevel converter control

For dynamic closed loop control of a multilevel converter with a low pulse number (ratio of switching frequency to synthesized fundamental), natural sampled pulse-width modulation (PWM) is the best form of modulation. Natural sampling does not introduce distortion or a delayed response to the modulating signal. However previous natural sampled PWM implementations have generally been analog. For a modular multilevel converter, a digital implementation has advantages of accuracy and flexibility. Re-sampled uniform PWM is a novel digital modulation technique which approaches the performance of natural PWM. Both hardware and software implementations for a five level multilevel converter phase are presented, demonstrating the improvement over uniform PWM.

Diferença entre características na formação do preço de venda e locação de imóveis na cidade de Vitória/ES

Essa dissertação estuda as características relevantes na formação do preço de venda e aluguel, analisando também as diferenças entre esses atributos para apartamentos na cidade de Vitória/ES, preenchendo uma lacuna ainda não desenvolvida, tendo em vista a possibilidade de comparação entre preços de aluguel e venda. O constructo teórico teve como fundamento abordagem de preços hedônicos, aplicada em estudos de Waugh (1928) e Court (1939), mas formalmente desenvolvida teoricamente por Lancaster (1966) e Rosen (1974), e aplicadas e discutidas por Palmquist (1984) e Sheppard (1999). A revisão de literatura mostra que existe impactos tanto em relação aos aspectos físicos dos imóveis, como características externas, como violência, facilidade de acesso, ou presença de estações de trens ou mercados no entorno, dentre outras. A amostra partiu de uma listagem de oferta de imóveis no site da Netimóveis durante os meses de maio e junho de 2014, contando com um número de 563 observações para venda e 185 para locação. Além dessas duas amostras, foram elaboradas análises com relação a subamostras que possuíam a variável valor do condomínio, buscando ampliar as variáveis explicativas coletadas. A análise dos resultados foi feita com utilização da estatística descritiva, correlação entre variáveis e regressão múltipla, sendo essa última aplicada nos 6 modelos propostos para cada amostra, posteriormente propondo um modelo final para venda e aluguel. No que tange as hipóteses utilizadas e aplicadas nos modelos, parte delas foram utilizadas tendo em base estudos prévios, e outras, como o sol da manhã, por exemplo, foram apresentadas como propostas. Dos resultados encontrados, muitos corroboraram com estudos anteriores, confirmando que variáveis como área, vagas na garagem, varanda, anda e posição de frente da unidade, piscina e localização em bairros nobres impactam positivamente no preço dos imóveis, independente se venda ou aluguel. Como diferenças, foi possível identificar que as variáveis presença de elevador, playground e valor do condomínio participam positivamente da explicação do preço de venda, enquanto, presença de quadra, mobília e sol da manhã explicam positivamente o valor do aluguel na amostra.

Necessidade do capital de giro e nível de vendas

O artigo examina aspectos correspondentes ao relacionamento entre o nível de vendas e o capital de giro necessário para manter a continuidade operacional dos negócios, em um contexto em que a alavancagem de vendas ocorre como resultado de um programa de ações de pricing. Discute-se qual deve ser o ponto de equilíbrio baseado no capital de giro, de modo a auxiliar os administradores a analisar os efeitos daquele tipo de alavancagem nos procedimentos financeiros de uma empresa.

Fundos de pensão como financiadores da atividade econômica

A geração de poupança interna e a ampliação do investimento produtivo é condição para alcançar e manter taxas de crescimento econômico compatíveis com o desenvolvimento social. Os fundos de pensão, com os recursos disponíveis para investir, possibilitam alavancar o desenvolvimento de um país na medida em que canalizam esses recursos para o setor produtivo. Diante dessa perspectiva, este estudo propõe analisar o desempenho das aplicações em renda variável desses fundos, aqui considerados investimento produtivo, por meio do Capital Asset Pricing Model (CAPM) e dos índices de Sharpe e M² . Estes se prestam a avaliar o investimento realizado em relação ao risco e ao retorno da carteira. A partir da metodologia proposta, verificou-se que os investimentos em ações incorreram em retornos superiores aos esperados, garantindo eficiência na remuneração pelo risco, gerando, por um lado, maior valor agregado ao fundo e, por outro, um incremento da poupança interna do país, respaldado pela aplicação de recursos no setor produtivo.

Teste do CAPM condicional dos retornos de carteiras dos mercados brasileiro, argentino e chileno, comparando-os com o mercado norte-americano

Nas últimas décadas, o modelo Capital Asset Pricing Model (CAPM) tem despertado grande interesse por parte da comunidade científica. Apesar das críticas, o aprimoramento do CAPM estático deu origem a novos modelos dinâmicos que trazem maior segurança para o investidor ao longo do ciclo de negócios. Atualmente, encontramos adaptações mais complexas do modelo CAPM, as quais nos permitem ter respostas sobre questões em finanças que por muito tempo permaneceram não solucionadas. Diante desse panorama e considerando todo o debate acerca da validade do CAPM, este trabalho tem como objetivo testar o modelo CAPM condicional de Jagannathan e Wang (1996), incorporando variáveis macroeconômicas e financeiras, para o mercado brasileiro, argentino, chileno, e norte americano.