Assessment of climate change statistical downscaling methods: Application and comparison of two statistical methods to a single site in Lisbon

Dissertação apresentada na Faculdade de Ciências e Tecnologia da Universidade Nova de Lisboa para a obtenção do grau de Mestre em Engenharia do Ambiente

Numerical and experimental study of tensile strength of single and double-strap repairs

Adhesive bonding as a joining or repair method has a wide application in many industries. Repairs with bonded patches are often carried out to re-establish the stiffness at critical regions or spots of corrosion and/or fatigue cracks. Single and double-strap repairs (SS and DS, respectively) are a viable option for repairing. For the SS repairs, a patch is adhesively-bonded on one of the structure faces. SS repairs are easy to execute, but the load eccentricity leads to peel peak stresses at the overlap edges. DS repairs involve the use of two patches, one on each face of the structure. These are more efficient than SS repairs, due to the doubling of the bonding area and suppression of the transverse deflection of the adherends. Shear stresses also become more uniform as a result of smaller differential straining. The experimental and Finite Element (FE) study presented here for strength prediction and design optimization of bonded repairs includes SS and DS solutions with different values of overlap length (LO). The examined values of LO include 10, 20 and 30 mm. The failure strengths of the SS and DS repairs were compared with FE results by using the Abaqus® FE software. A Cohesive Zone Model (CZM) with a triangular shape in pure tensile and shear modes, including the mixed-mode possibility for crack growth, was used to simulate fracture of the adhesive layer. A good agreement was found between the experiments and the FE simulations on the failure modes, elastic stiffness and strength of the repairs, showing the effectiveness and applicability of the proposed FE technique in predicting strength of bonded repairs. Furthermore, some optimization principles were proposed to repair structures with adhesively-bonded patches that will allow repair designers to effectively design bonded repairs.

Market power analysis in the Iberian electricity market using a conjectural variations model

In the last years the electricity industry has faced a restructuring process. Among the aims of this process was the increase in competition, especially in the generation activity where firms would have an incentive to become more efficient. However, the competitive behavior of generating firms might jeopardize the expected benefits of the electricity industry liberalization. The present paper proposes a conjectural variations model to study the competitive behavior of generating firms acting in liberalized electricity markets. The model computes a parameter that represents the degree of competition of each generating firm in each trading period. In this regard, the proposed model provides a powerful methodology for regulatory and competition authorities to monitor the competitive behavior of generating firms. As an application of the model, a study of the day-ahead Iberian electricity market (MIBEL) was conducted to analyze the impact of the integration of the Portuguese and Spanish electricity markets on the behavior of generating firms taking into account the hourly results of the months of June and July of 2007. The advantages of the proposed methodology over other methodologies used to address market power, namely Residual Supply index and Lerner index are highlighted. (C) 2014 Elsevier Ltd. All rights reserved.

Using a cohesive damage model to predict the tensile behaviour of CFRP single-strap repairs

This work addresses both experimental and numerical analyses regarding the tensile behaviour of CFRP single-strap repairs. Two fundamental geometrical parameters were studied: overlap length and patch thickness. The numerical model used ABAQUS® software and a developed cohesive mixed-mode damage model adequate for ductile adhesives, and implemented within interface finite elements. Stress analyses and strength predictions were carried out. Experimental and numerical comparisons were performed on failure modes, failure load and equivalent stiffness of the repair. Good correlation was found between experimental and numerical results, showing that the proposed model can be successfully applied to bonded joints or repairs.

Buckling strength of adhesively-bonded single and double-strap repairs on carbon-epoxy structures

This work reports on an experimental and finite element method (FEM) parametric study of adhesively-bonded single and double-strap repairs on carbon-epoxy structures under buckling unrestrained compression. The influence of the overlap length and patch thickness was evaluated. This loading gains a particular significance from the additional characteristic mechanisms of structures under compression, such as fibres microbuckling, for buckling restrained structures, or global buckling of the assembly, if no transverse restriction exists. The FEM analysis is based on the use of cohesive elements including mixed-mode criteria to simulate a cohesive fracture of the adhesive layer. Trapezoidal laws in pure modes I and II were used to account for the ductility of most structural adhesives. These laws were estimated for the adhesive used from double cantilever beam (DCB) and end-notched flexure (ENF) tests, respectively, using an inverse technique. The pure mode III cohesive law was equalled to the pure mode II one. Compression failure in the laminates was predicted using a stress-based criterion. The accurate FEM predictions open a good prospect for the reduction of the extensive experimentation in the design of carbon-epoxy repairs. Design principles were also established for these repairs under buckling.

Multidimensional scaling analysis of electricity market prices

This paper studies the impact of energy and stock markets upon electricity markets using Multidimensional Scaling (MDS). Historical values from major energy, stock and electricity markets are adopted. To analyze the data several graphs produced by MDS are presented and discussed. This method is useful to have a deeper insight into the behavior and the correlation of the markets. The results may also guide the construction models, helping electricity markets agents hedging against Market Clearing Price (MCP) volatility and, simultaneously, to achieve better financial results.

Single-objective spreading algorithm

This paper addresses the problem of finding several different solutions with the same optimum performance in single objective real-world engineering problems. In this paper a parallel robot design is proposed. Thereby, this paper presents a genetic algorithm to optimize uni-objective problems with an infinite number of optimal solutions. The algorithm uses the maximin concept and ε-dominance to promote diversity over the admissible space. The performance of the proposed algorithm is analyzed with three well-known test functions and a function obtained from practical real-world engineering optimization problems. A spreading analysis is performed showing that the solutions drawn by the algorithm are well dispersed.

Problems in the regulatory policy of the drug market

OBJECTIVE Analyze the implementation of drug price regulation policy by the Drug Market Regulation Chamber.METHODS This is an interview-based study, which was undertaken in 2012, using semi-structured questionnaires with social actors from the pharmaceutical market, the pharmaceuticals industry, consumers and the regulatory agency. In addition, drug prices were compiled based on surveys conducted in the state of Sao Paulo, at the point of sale, between February 2009 and May 2012.RESULTS The mean drug prices charged at the point of sale (pharmacies) were well below the maximum price to the consumer, compared with many drugs sold in Brazil. Between 2009 and 2012, 44 of the 129 prices, corresponding to 99 drugs listed in the database of compiled prices, showed a variation of more than 20.0% in the mean prices at the point of sale and the maximum price to the consumer. In addition, many laboratories have refused to apply the price adequacy coefficient in their sales to government agencies.CONCLUSIONS The regulation implemented by the pharmaceutical market regulator was unable to significantly control prices of marketed drugs, without succeeding to push them to levels lower than those determined by the pharmaceutical industry and failing, therefore, in its objective to promote pharmaceutical support for the public. It is necessary reconstruct the regulatory law to allow market prices to be reduced by the regulator as well as institutional strengthen this government body.

Tensile behaviour of single and double-strap repairs on aluminium structures

In this work, an experimental study was performed on the influence of plug filling, loading rate and temperature on the tensile strength of single-strap (SS) and double-strap (DS) repairs on aluminium structures. The experimental programme includes repairs with different values of overlap length (LO=10, 20 and 30 mm), and with and without plug filling. The influence of the testing speed on the repairs strength is also addressed (considering 0.5, 5 and 25 mm/min). Accounting for the temperature effects, tests were carried out at room temperature, 50ºC and 80ºC. This will permit a comparative evaluation of the adhesive tested below and above the Glass Transition Temperature (Tg), established by the manufacturer at 67ºC. The global tendencies of the test results concerning the plug filling and overlap length analyses are interpreted from the fracture modes and typical stress distributions for bonded repairs. According to the results obtained from this work, design guidelines for repairing aluminium structures were recommended.

Market of resources for virtual enterprise integration

Most definitions of virtual enterprise (VE) incorporate the idea of extended and collaborative outsourcing to suppliers and subcontractors in order to achieve a competitive response to market demands (Webster, Sugden, & Tayles, 2004). As suggested by several authors (Browne & Zhang, 1999; Byrne, 1993; Camarinha-Matos & Afsarmanesh, 1999; Cunha, Putnik, & Ávila, 2000; Davidow & Malone, 1992; Preiss, Goldman, & Nagel, 1996), a VE consists of a network of independent enterprises (resources providers) with reconfiguration capability in useful time, permanently aligned with the market requirements, created to take profit from a specific market opportunity, and where each participant contributes with its best practices and core competencies to the success and competitiveness of the structure as a whole. Even during the operation phase of the VE, the configuration can change, to assure business alignment with the market demands, traduced by the identification of reconfiguration opportunities and continuous readjustment or reconfiguration of the VE network, to meet unexpected situations or to keep permanent competitiveness and maximum performance (Cunha & Putnik, 2002, 2005a, 2005b).

Strength prediction of single- and double-lap joints by standard and extended finite element modelling

The structural integrity of multi-component structures is usually determined by the strength and durability of their unions. Adhesive bonding is often chosen over welding, riveting and bolting, due to the reduction of stress concentrations, reduced weight penalty and easy manufacturing, amongst other issues. In the past decades, the Finite Element Method (FEM) has been used for the simulation and strength prediction of bonded structures, by strength of materials or fracture mechanics-based criteria. Cohesive-zone models (CZMs) have already proved to be an effective tool in modelling damage growth, surpassing a few limitations of the aforementioned techniques. Despite this fact, they still suffer from the restriction of damage growth only at predefined growth paths. The eXtended Finite Element Method (XFEM) is a recent improvement of the FEM, developed to allow the growth of discontinuities within bulk solids along an arbitrary path, by enriching degrees of freedom with special displacement functions, thus overcoming the main restriction of CZMs. These two techniques were tested to simulate adhesively bonded single- and double-lap joints. The comparative evaluation of the two methods showed their capabilities and/or limitations for this specific purpose.

Effect of hole drilling at the overlap on the strength of single-lap joints

Bonded unions are gaining importance in many fields of manufacturing owing to a significant number of advantages to the traditional fastening, riveting, bolting and welding techniques. Between the available bonding configurations, the single-lap joint is the most commonly used and studied by the scientific community due to its simplicity, 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 in single-lap joints is widely documented in the literature to reduce this handicap, acting by reduction of peel and shear peak stresses at the damage initiation sites in structures or alterations of the failure mechanism emerging from local modifications. In this work, the effect of hole drilling at the overlap on the strength of single-lap joints was analyzed experimentally with two main purposes: (1) to check whether or not the anchorage effect of the adhesive within the holes is more preponderant than the stress concentrations near the holes, arising from the sharp edges, and modification of the joints straining behaviour (strength improvement or reduction, respectively) and (2) picturing a real scenario on which the components to be bonded are modified by some external factor (e.g. retrofitting of decaying/old-fashioned fastened unions). Tests were made with two adhesives (a brittle and a ductile one) varying the adherend thickness and the number, layout and diameter of the holes. Experimental testing showed that the joints strength never increases from the un-modified condition, showing a varying degree of weakening, depending on the selected adhesive and hole drilling configuration.

Persistence characteristics in financial prices: evidence from the portuguese stock market returns

The objective of this article is to provide additional knowledge to the discussion of long-term memory, leaning over the behavior of the main Portuguese stock index. The first four moments are calculated using time windows of increasing size and sliding time windows of fixed size equal to 50 days and suggest that daily returns are non-ergodic and non-stationary. Seeming that the series is best described by a fractional Brownian motion approach, we use the rescaled-range analysis (R/S) and the detrended fluctuation analysis (DFA). The findings indicate evidence of long term memory in the form of persistence. This evidence of fractal structure suggests that the market is subject to greater predictability and contradicts the efficient market hypothesis in its weak form. This raises issues regarding theoretical modeling of asset pricing. In addition, we carried out a more localized (in time) study to identify the evolution of the degree of long-term dependency over time using windows 200-days and 400-days. The results show a switching feature in the index, from persistent to anti-persistent, quite evident from 2010.

A importância da gestão baseada na criação de valor para o acionista (Value-Based Management): o caso do Grupo Galp Energia

A avaliação de empresas sempre constituiu um tema de elevada reflexão, sendo que vários especialistas tentam encontrar os modelos que melhor se adaptam a situações específicas e para as quais precisam de determinar um valor. No contexto empresarial português começa a ganhar significância a prática da gestão orientada para a criação de valor (Value-Based Management). O conceito de Value-Based Management assistiu a um particular desenvolvimento nos últimos 20 anos como resultado da globalização e desregulamentação dos mercados financeiros, dos avanços nas tecnologias de informação e do aumento da importância dos investidores institucionais. Vários analistas apresentaram evidência de que as empresas que adotam sistemas VBM melhoram o seu desempenho económico em relação a outras de dimensão semelhante no mesmo setor. É neste contexto que o EVA (Economic Value Added) se apresenta como uma métrica de desempenho privilegiada nos processos de controlo das decisões estratégicas tomadas. No presente trabalho pretendemos abordar o conceito da gestão baseada na criação de valor e a sua importância para o acionista, o que implica rever outros modelos de avaliação tradicionais baseados no valor contabilístico. Como métrica de avaliação do desempenho passado da empresa ao nível da criação de valor vamos dar particular importância ao estudo do EVA, fazendo referência à possível correlação entre esta métrica e o MVA (Market Value Added). O objetivo principal é analisar empiricamente a relação do EVA como medida de desempenho associada à criação de valor para os acionistas com a performance da empresa. Com efeito, vamos efetuar um estudo de caso, que vai incidir sobre um grupo empresarial português, referência no seu setor de atividade, o Grupo Galp Energia, cotado na Euronext Lisbon. Pensamos que a crescente prática da gestão baseada na criação de valor nas empresas cotadas em Portugal e a necessidade de aferir os resultados desta, tornam esta investigação pertinente, para além do facto de serem poucos os estudos empíricos à questão da criação de valor e a sua correlação com o valor acrescentado de mercado e com o valor de mercado dos capitais próprios das empresas cotadas em Portugal.

Licensing in an international market

We study the effects of entry of a foreign firm on domestic welfare in the presence of licensing, when the entrant is technologically superior to the incumbent. We show that foreign entry increases domestic welfare for sufficiently large technological differences between the firms under both fixed-fee licensing and royalty licensing.