Flexible information acquisition and optimal Tobin tax in tractable dynamic global games

My dissertation focuses on dynamic aspects of coordination processes such as reversibility of early actions, option to delay decisions, and learning of the environment from the observation of other people’s actions. This study proposes the use of tractable dynamic global games where players privately and passively learn about their actions’ true payoffs and are able to adjust early investment decisions to the arrival of new information to investigate the consequences of the presence of liquidity shocks to the performance of a Tobin tax as a policy intended to foster coordination success (chapter 1), and the adequacy of the use of a Tobin tax in order to reduce an economy’s vulnerability to sudden stops (chapter 2). Then, it analyzes players’ incentive to acquire costly information in a sequential decision setting (chapter 3). In chapter 1, a continuum of foreign agents decide whether to enter or not in an investment project. A fraction λ of them are hit by liquidity restrictions in a second period and are forced to withdraw early investment or precluded from investing in the interim period, depending on the actions they chose in the first period. Players not affected by the liquidity shock are able to revise early decisions. Coordination success is increasing in the aggregate investment and decreasing in the aggregate volume of capital exit. Without liquidity shocks, aggregate investment is (in a pivotal contingency) invariant to frictions like a tax on short term capitals. In this case, a Tobin tax always increases success incidence. In the presence of liquidity shocks, this invariance result no longer holds in equilibrium. A Tobin tax becomes harmful to aggregate investment, which may reduces success incidence if the economy does not benefit enough from avoiding capital reversals. It is shown that the Tobin tax that maximizes the ex-ante probability of successfully coordinated investment is decreasing in the liquidity shock. Chapter 2 studies the effects of a Tobin tax in the same setting of the global game model proposed in chapter 1, with the exception that the liquidity shock is considered stochastic, i.e, there is also aggregate uncertainty about the extension of the liquidity restrictions. It identifies conditions under which, in the unique equilibrium of the model with low probability of liquidity shocks but large dry-ups, a Tobin tax is welfare improving, helping agents to coordinate on the good outcome. The model provides a rationale for a Tobin tax on economies that are prone to sudden stops. The optimal Tobin tax tends to be larger when capital reversals are more harmful and when the fraction of agents hit by liquidity shocks is smaller. Chapter 3 focuses on information acquisition in a sequential decision game with payoff complementar- ity and information externality. When information is cheap relatively to players’ incentive to coordinate actions, only the first player chooses to process information; the second player learns about the true payoff distribution from the observation of the first player’s decision and follows her action. Miscoordination requires that both players privately precess information, which tends to happen when it is expensive and the prior knowledge about the distribution of the payoffs has a large variance.

Temperature during soybean seed storage and the amount of electrolytes of soaked seeds solution

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

Egg quality during storage and deposition of minerals in eggs from quails fed diets supplemented with organic selenium, zinc and manganese

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

Dynamic Morse decompositions for semigroups of homeomorphisms and control systems

In this paper, we introduce the concept of dynamic Morse decomposition for an action of a semigroup of homeomorphisms. Conley has shown in [5, Sec. 7] that the concepts of Morse decomposition and dynamic Morse decompositions are equivalent for flows in metric spaces. Here, we show that a Morse decomposition for an action of a semigroup of homeomorphisms of a compact topological space is a dynamic Morse decomposition. We also define Morse decompositions and dynamic Morse decompositions for control systems on manifolds. Under certain condition, we show that the concept of dynamic Morse decomposition for control system is equivalent to the concept of Morse decomposition.

Thermoeconomic analysis method for optimization of combined heat and power systems

This article presents an thermoeconomic analysis of cogeneration plants, applied as a rational technique to produce electric power and saturated steam. The aim of this new methodology is the minimum exergetic manufacturing cost (EMC), based on the Second Law of Thermodynamics. The decision variables selected for the optimization are the pressure and the temperature of the steam leaving the boiler in the case of using steam turbine, and the pressure ratio, turbine exhaust temperature and mass flow in the case of using gas turbines. The equations for calculating the capital costs of the components and products are formulated as a function of these decision variables. An application of the method using real data of a multinational chemical industry located in São Paulo state is presented. The conditions which establish the minimum cost are presented as finals conclusions.

Thermoeconomic analysis method for optimization of combined heat and power systems - part II

In this paper, a thermoeconomic functional analysis method based on the Second Law of Thermodynamics and applied to analyze four cogeneration systems is presented. The objective of the developed technique is to minimize the operating costs of the cogeneration plant, namely exergetic production cost (EPC), assuming fixed rates of electricity production and process steam in exergy base. In this study a comparison is made between the same four configurations of part I. The cogeneration system consisting of a gas turbine with a heat recovery steam generator, without supplementary firing, has the lowest EPC. (C) 2004 Published by Elsevier Ltd.

Effect of relining, water storage and cyclic loading on the flexural strength of a denture base acrylic resin

Objectives: This study investigated the effect of relining, water storage and cyclic loading on the ultimate flexural strength (FSU) and on the flexural strength at the proportional limit (FSPl) of a denture base acrylic resin (Lucitone 550-L).Methods: Rectangular bars of L were made (64 mm x 10 mm x 2 mm) and relined (1.3 mm) with four relining resins (Kooliner-K, Ufi Gel Hard-UGH, Tokuso Rebase Fast-TR and New Truliner-NT). In addition, specimens relined with L and intact L specimens were made (64 mm x 10 mm x 3.3 mm). A three-point flexural test was applied on the specimens (n = 10) after (1) polymerization; (2) water storage (30 days); (3) cyclic loading (10,000 cycles at 5 Hz) and (4) water storage (30 days) + cyclic loading. Data (MPa) were analyzed with three-way ANOVA and Tukey's HSD tests (alpha = 0.05). To test for a possible correlation between FSU and FSPl, a linear regression coefficient 'r' was calculated.Results: After water storage, L-UGH and L-TR demonstrated an increased FSU (41.4950.64 MPa and 49.95-57.36 MPa, respectively) (P < 0.05). Only L-TR demonstrated an increased FSPl (20.58-24.21 MPa) after water storage (P < 0.05). L-L had the highest FSU (between 78.57 and 85.09 MPa) and FSPl (between 31.30 and 34.17 MPa) (P < 0.05). The cyclic loading decreased the FSU and FSPl of all materials (P < 0.05). Regression analysis showed a strong linear correlation between the two variables (r = 0.941).Conclusions: Water storage improved the FSU of L-UGH and L-TR and the FSPl of L-TR. L-L produced the highest FSU and FSPl. The FSU and FSPl of all materials were detrimentally influenced by cyclic loading.

Effect of water storage and heat treatment on the cytotoxicity of soft liners

Objective: To evaluate the effect of water storage time on the cytotoxicity of soft liners.Methods: Sample discs of soft liners Dentusoft, Dentuflex, Trusoft, Ufi-Gel-P and denture base acrylic resin Lucitone-550 were prepared and divided into four groups: GN: No treatment, G24: Stored in water at 37 degrees C for 24 h; G48: Stored in water at 37 degrees C for 48 h, GHW: Immersed in water at 55 degrees C for 10 min. To analyse the cytotoxic effect, three samples of each group were placed in tubes with Dubelcco's Modified Eagle Mediums and incubated at 37 degrees C for 24 h. During this period, the toxic substances were leached to the culture medium. The cytotoxicity was analysed quantitatively by the incorporation of radioactivity H-3-thymidine checking the number of viable cells (synthesis of DNA). The data were statistically analysed using two-way ANOVA and Tukey's honestly significant difference tests (alpha = 0.05).Results: Treatments did not reduce the cytotoxicity effect of the soft liners (p > 0.05). It was found that Ufi-Gel-P had a non-cytotoxic effect, Trusoft had a slightly cytotoxic effect, Dentuflex had a moderated cytotoxic effect, Dentusoft alternated between slightly and non-cytotoxic effect, and Lucitone-550 had non-cytotoxic effect when stored in water for 48 h.Conclusion: The effect of water storage and the heat treatment did not reduce the cytotoxicity of the soft liners.

Root Canal Area Increase Promoted by the EndoSequence and ProTaper Systems: Comparison by Computed Tomography

Introduction: The aim of this study was to compare the increase of the root canal area after instrumentation with EndoSequence or ProTaper rotary systems. Methods: Twenty-two mesial root canals from mandibular molars were instrumented. Teeth were mounted on a base, numbered, and divided into 2 groups; teeth from 1-11 (PT group) were instrumented by using the ProTaper system, and teeth from 12-22 (ES group) were instrumented by using the EndoSequence system. Cone beam computed tomography was performed on all teeth before and after instrumentation. Measurements at 3,5, and 7 mm as well as differences in instrument performance were statistically compared by the Student t test at 5% significance level. Results: Both systems increased significantly the root canal area (P < .05) at all levels. Comparison between the rotary systems showed significantly greater increase (P < .05) for EndoSequence at 3 mm, with no statistically significant difference (P < .05) at the other levels. Conclusions: Both rotary systems increased significantly the root canal area. (J Endod 2010;36:1179-1182)

Effects of Gestational and Lactational Fenvalerate Exposure on Immune and Reproductive Systems of Male Rats

The aim of this study was to determine the consequent reproductive developmental and immunotoxic effects due to exposure to fenvalerate during pregnancy and lactation in male offspring of maternal-treated rats. Pregnant rats were treated daily by oral gavage with 40 or 80 mg/kg of fenvalerate or corn oil (vehicle, control), from d 12 of pregnancy to d 21 of lactation. Immune and reproductive developmental effects were assessed in male offspring at postnatal days (PND) 40 (peripuberty), 60 (postpuberty), and 90 (sexual maturity). Treatment with the higher dose (80 mg/kg) resulted in convulsive behavior, hyperexcitability, and mortality in 45% of the dams. Fenvalerate was detected in the fetus due to placental transfer, as well as in pups due to breast-milk ingestion, persisting in male offspring until PND 40 even though pesticide treatment was terminated on PND 20. However, fenvalerate did not produce marked alterations in age of testicular descent to the scrotum and prepucial separation, parameters indicative of puberty initiation. In contrast, at puberty, there was a reduction in testicular weight and sperm production in male offspring of maternal-treated rats. At adulthood, the sperm counts and fertility did not differ between control and treated groups. Testosterone levels were not changed at any time during reproductive development. Similarly, no apparent exposure-related effects were detected in the histological structures of the lymphohematopoietic system. Data indicate that fenvalerate, in this experimental model, interfered with initial development of the male reproductive system, but that these effects on sperm production or fertility did not persist into adulthood. There was no apparent evidence that fenvalerate altered testosterone levels or produced a disruption in male endocrine functions.

Virtual States, Halos and Resonances in Three-Body Atomic and Nuclear Systems

By considering nuclear and ultracold trapped atomic systems, we review the trajectory of Efimov excited states in the complex plane by changing the two-body scattering lengths and one three-body scale.

On control and synchronization in chaotic and hyperchaotic systems via linear feedback control

This paper presents the control and synchronization of chaos by designing linear feedback controllers. The linear feedback control problem for nonlinear systems has been formulated under optimal control theory viewpoint. Asymptotic stability of the closed-loop nonlinear system is guaranteed by means of a Lyapunov function which can clearly be seen to be the solution of the Hamilton-Jacobi-Bellman equation thus guaranteeing both stability and optimality. The formulated theorem expresses explicitly the form of minimized functional and gives the sufficient conditions that allow using the linear feedback control for nonlinear system. The numerical simulations were provided in order to show the effectiveness of this method for the control of the chaotic Rossler system and synchronization of the hyperchaotic Rossler system. (C) 2007 Elsevier B.V. All rights reserved.

Effects of Storage and Exogenous Ga3 on Lychee Seed Germination

O trabalho teve como objetivo estudar os efeitos do tempo de armazenamento e de tratamentos com ácido giberélico, no processo germinativo de sementes de lichieira (Litchi chinensis Sonn.). As sementes foram retiradas de frutos maduros, lavadas, secas à sombra e colocadas para germinar imediatamente ou então, armazenadas em geladeira (8°C) por 15 e 30 dias. Os tratamentos corresponderam à imersão das sementes por 24 horas nas seguintes soluções com aeração: água, GA3 a 50, 100 e 200 mg.L-1. Através dos resultados obtidos, observou-se que as sementes perderam o poder germinativo, à medida que aumentou-se o tempo de armazenamento, sendo a porcentagem de germinação muito baixa (7%) aos 30 dias de armazenamento. O tempo médio de germinação foi menor após 15 dias de armazenamento.

Pollination and dispersal systems in a Cerrado remnant (Brazilian Savanna) in Southeastern Brazil

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Vegetative and productive aspects of organically grown coffee cultivars under shaded and unshaded systems

Although Coffea arabica species has its origin in the African understories, there is great resistance on the part of the Brazilian producers for growing this species under agroforestry systems as they fear that shading reduces production. This study aimed at evaluating some vegetative traits and the productivity of organically grown coffee (Coffea arabica L.) cultivars under shaded and unshaded systems. Twelve treatments consisting of two cultivation systems (shaded and unshaded) and six coffee cultivars were arranged in randomized blocks with four replicates, in a split-plot scheme. Shading was provided by banana (Musa sp.) and coral bean plants (Erythrinaverna). Shading delayed fruit maturation. Late maturation cultivars, such as the Icatu and the Obatã, matured early in both cultivation systems, while medium and early maturation cultivars presented late maturation. Cultivation in the shaded system increased the leaf area and the number of lower branches, decreased the number of productive nodes per branch, and increased the distance between the nodes and the number of leaves present in the branches. Cultivation in the unshaded system presented greater number of plants with branch blight in relation to plants grown in the shade. The productivity of the cultivars was not different, at 30.0 processed bags per hectare in the shaded system, and 25.8 processed bags per hectare in the unshaded system. The most productive cultivars in the shaded system were the Tupi, the Obatã, and the Catuaí, while no differences between cultivars were obtained in the unshaded system.