Consumption, investment and life insurance strategies with heterogeneous discounting

[cat] En aquest treball s'analitza l'efecte que comporta l'introducció de preferències inconsistents temporalment sobre les decisions òptimes de consum, inversió i compra d'assegurança de vida. En concret, es pretén recollir la creixent importància que un individu dóna a la herència que deixa i a la riquesa disponible per a la seva jubilació al llarg de la seva vida laboral. Amb aquesta finalitat, es parteix d'un model estocàstic en temps continu amb temps final aleatori, i s'introdueix el descompte heterogeni, considerant un agent amb una distribució de vida residual coneguda. Per tal d'obtenir solucions consistents temporalment es resol una equació de programació dinàmica no estàndard. Per al cas de funcions d'utilitat del tipus CRRA i CARA es troben solucions explícites. Finalment, els resultats obtinguts s'il·lustren numèricament.

Consumption, investment and life insurance strategies with heterogeneous discounting

[cat] En aquest treball s'analitza l'efecte que comporta l'introducció de preferències inconsistents temporalment sobre les decisions òptimes de consum, inversió i compra d'assegurança de vida. En concret, es pretén recollir la creixent importància que un individu dóna a la herència que deixa i a la riquesa disponible per a la seva jubilació al llarg de la seva vida laboral. Amb aquesta finalitat, es parteix d'un model estocàstic en temps continu amb temps final aleatori, i s'introdueix el descompte heterogeni, considerant un agent amb una distribució de vida residual coneguda. Per tal d'obtenir solucions consistents temporalment es resol una equació de programació dinàmica no estàndard. Per al cas de funcions d'utilitat del tipus CRRA i CARA es troben solucions explícites. Finalment, els resultats obtinguts s'il·lustren numèricament.

Pienen konepajayrityksen tuotekustannusmalli

Työn tavoitteena oli laatia pienen konepajayrityksen varaosien hinnoittelun avuksi helposti tietokoneella päivitettävä kustannuslaskentamalli. Kustannuslaskentamalli laadittiin tässä vaiheessa menekiltään yleisimmille osille, kuitenkin siten että mahdollisimman moni työvaihe tulisi tarkastelluksi. Aikaisempana pohjana käytössä ei ole ollut tarkkaa kustannuslaskentaa, joten työ täytyi aloittaa aivan perusteista, määrittelemällä kunkin tuotteen valmistusketjut ja eri työvaiheissa käytetyt ajat. Pienen yrityksen resursseista johtuen päädyttiin nojaamaan perinteiseen kustannuslaskentaan sen sijaan että oltaisiin käyty soveltamaan toimintolaskentaa.Tuloksena saatiin aikaan laskentamallit, joilla määritellään eri työvaiheille tuntikustannukset sekä näitä ja työvaiheiden kestoja hyväksikäyttäen lasketaan valituille osille omakustannushinnat. Mallia edelleen kehittämällä voidaan sitä laajentaa käsittämään muita valmistettavia osia sekä kokonaisia koneita. Jatkotoimenpiteinä ensisijaisen tärkeää on korvata malliin jääneet aika-arviot todellisilla työajoilla. Mikäli mallia halutaan edelleen laajentaa käsittämään kaikkea tuotantoa on yrityksen työajankäytön seurantaa kehitettävä nykyistä tarkemmaksi.

Lajinvaihtokustannusten vaikutus tuotevalikoiman kannattavuuteen

Asiakkaat vaativat yhä suurempaa tuotannon joustavuutta ja lyhyitä toimitusaikoja paperiteollisuudelta. Samanaikaisesti kiristyvä kilpailu ajaa yritykset tavoittelemaan parempaa kannattavuutta kasvattamalla tuotevalikoimaa. Edellä mainitut tekijät lisäävät lajinvaihtojen määrää ja aiheuttavat kustannuksia. Diplomityön pääasiallisena tavoitteena on selvittää kohdeyrityksen paperikoneen lajinvaihdoista aiheutuvat kustannukset ja niiden vaikutus tuotevalikoiman kannattavuuteen. Toisena merkittävänä tavoitteena voidaan mainita lajinvaihtokustannusten simulointimallin rakentaminen, jota voidaan käyttää apuna tuotannonsuunnittelussa. Lisäksi saatujen tutkimustulosten perusteella pyritään löytämään keinoja kannattavuuden parantamiseksi. Paperikoneella tehdyn seurannan avulla selvitettiin eri tyyppisten lajinvaihtojen aiheuttamat tuotannonmenetykset. Tämän perusteella laskettiin niiden kustannusvaikutukset. Tarkastelua laajennettiin kahden toteutuneen syklin avulla syklitasolle ja lopuksi tuotevalikoimatasolle. Lajinvaihtokustannukset lisääntyivät paperin laatusuureiden muutoksen kasvaessa. Kalanterointimuutokset osoittautuivat kalleimmiksi ja niiden määrä tulisi minimoida. Kustannukset eivät osoittautuneet syklitasolla kovin suuriksi, mutta laji- ja ajokohtaisesti ne ovat merkittäviä erityisesti pienivolyymisilla tuotteilla. Niiden ajofrekvenssin harventaminen vähentäisi kustannuksia ja parantaisi kannattavuutta. Lajinvaihto-kustannukset tulisi jatkossa huomioida tuotekustannuslaskennassa.

Direct noninvasive estimation of myocardial tricarboxylic acid cycle flux in vivo using hyperpolarized (13)C magnetic resonance.

BACKGROUND: The heart relies on continuous energy production and imbalances herein impair cardiac function directly. The tricarboxylic acid (TCA) cycle is the primary means of energy generation in the healthy myocardium, but direct noninvasive quantification of metabolic fluxes is challenging due to the low concentration of most metabolites. Hyperpolarized (13)C magnetic resonance spectroscopy (MRS) provides the opportunity to measure cellular metabolism in real time in vivo. The aim of this work was to noninvasively measure myocardial TCA cycle flux (VTCA) in vivo within a single minute. METHODS AND RESULTS: Hyperpolarized [1-(13)C]acetate was administered at different concentrations in healthy rats. (13)C incorporation into [1-(13)C]acetylcarnitine and the TCA cycle intermediate [5-(13)C]citrate was dynamically detected in vivo with a time resolution of 3s. Different kinetic models were established and evaluated to determine the metabolic fluxes by simultaneously fitting the evolution of the (13)C labeling in acetate, acetylcarnitine, and citrate. VTCA was estimated to be 6.7±1.7μmol·g(-1)·min(-1) (dry weight), and was best estimated with a model using only the labeling in citrate and acetylcarnitine, independent of the precursor. The TCA cycle rate was not linear with the citrate-to-acetate metabolite ratio, and could thus not be quantified using a ratiometric approach. The (13)C signal evolution of citrate, i.e. citrate formation was independent of the amount of injected acetate, while the (13)C signal evolution of acetylcarnitine revealed a dose dependency with the injected acetate. The (13)C labeling of citrate did not correlate to that of acetylcarnitine, leading to the hypothesis that acetylcarnitine formation is not an indication of mitochondrial TCA cycle activity in the heart. CONCLUSIONS: Hyperpolarized [1-(13)C]acetate is a metabolic probe independent of pyruvate dehydrogenase (PDH) activity. It allows the direct estimation of VTCA in vivo, which was shown to be neither dependent on the administered acetate dose nor on the (13)C labeling of acetylcarnitine. Dynamic (13)C MRS coupled to the injection of hyperpolarized [1-(13)C]acetate can enable the measurement of metabolic changes during impaired heart function.

Publication trends of shared decision making in 15 high impact medical journals: a full-text review with bibliometric analysis.

BACKGROUND: Shared Decision Making (SDM) is increasingly advocated as a model for medical decision making. However, there is still low use of SDM in clinical practice. High impact factor journals might represent an efficient way for its dissemination. We aimed to identify and characterize publication trends of SDM in 15 high impact medical journals. METHODS: We selected the 15 general and internal medicine journals with the highest impact factor publishing original articles, letters and editorials. We retrieved publications from 1996 to 2011 through the full-text search function on each journal website and abstracted bibliometric data. We included publications of any type containing the phrase "shared decision making" or five other variants in their abstract or full text. These were referred to as SDM publications. A polynomial Poisson regression model with logarithmic link function was used to assess the evolution across the period of the number of SDM publications according to publication characteristics. RESULTS: We identified 1285 SDM publications out of 229,179 publications in 15 journals from 1996 to 2011. The absolute number of SDM publications by journal ranged from 2 to 273 over 16 years. SDM publications increased both in absolute and relative numbers per year, from 46 (0.32% relative to all publications from the 15 journals) in 1996 to 165 (1.17%) in 2011. This growth was exponential (P < 0.01). We found fewer research publications (465, 36.2% of all SDM publications) than non-research publications, which included non-systematic reviews, letters, and editorials. The increase of research publications across time was linear. Full-text search retrieved ten times more SDM publications than a similar PubMed search (1285 vs. 119 respectively). CONCLUSION: This review in full-text showed that SDM publications increased exponentially in major medical journals from 1996 to 2011. This growth might reflect an increased dissemination of the SDM concept to the medical community.

Ohutlevyosien valmistuskustannukset ja kansainvälinen hankintastrategia

Työn tarkoituksena on kehittää hankinnan päätöksentekoa tukeva ohutlevyosien valmistuskustannusten laskentamenetelmä toimintolaskentaan pohjautuen. Laskentamenetelmä koostuu valmistukseen kuluvan ajan laskennassa käytettävistä funktioista sekä konetuntihinnoista. Hankintatoimen päätöksistä käsitellään toimittajanvalintaa, jossa yhtenä vaihtoehtona on hankkiminen Kiinasta. Toimittajanvalinnan kriteereitä ovat tällöin hankintahinnan lisäksi kuljetuskustannukset, laatu sekä toimitusvarmuus. Myös kansainvälisen hankinnan Kiinasta erityispiirteitä käsitellään. Hankkiminen Kiinasta koetaan vielä melko ongelmallisena etenkin laadun ja toimitusvarmuuden osalta. Erityisen huomioitavaa on, että hankintahintojen alhaisuus on osakohtaista. Suurin riski hankinnan kannattavuudelle aiheutuu valuuttakursseista. Osto-organisaation yhteistyötä alihankkijoiden sekä muiden osastojen kanssa parantamalla voidaan välttää hankittavien ohutlevyosien laatuongelmia. Suomalaisten alihankkijoiden kanssa kustannuslaskentamallia avoimeen hinnoitteluun soveltamalla hankintakustannuksia voidaan alentaa.

Ultrafine grinding of FGD and phosphogypsum with an attrition bead mill and a jet mill : optimisation and modelling of grinding and mill comparison

Fine powders of minerals are used commonly in the paper and paint industry, and for ceramics. Research for utilizing of different waste materials in these applications is environmentally important. In this work, the ultrafine grinding of two waste gypsum materials, namely FGD (Flue Gas Desulphurisation) gypsum and phosphogypsum from a phosphoric acid plant, with the attrition bead mill and with the jet mill has been studied. The ' objective of this research was to test the suitability of the attrition bead mill and of the jet mill to produce gypsum powders with a particle size of a few microns. The grinding conditions were optimised by studying the influences of different operational grinding parameters on the grinding rate and on the energy consumption of the process in order to achieve a product fineness such as that required in the paper industry with as low energy consumption as possible. Based on experimental results, the most influential parameters in the attrition grinding were found to be the bead size, the stirrer type, and the stirring speed. The best conditions, based on the product fineness and specific energy consumption of grinding, for the attrition grinding process is to grind the material with small grinding beads and a high rotational speed of the stirrer. Also, by using some suitable grinding additive, a finer product is achieved with a lower energy consumption. In jet mill grinding the most influential parameters were the feed rate, the volumetric flow rate of the grinding air, and the height of the internal classification tube. The optimised condition for the jet is to grind with a small feed rate and with a large rate of volumetric flow rate of grinding air when the inside tube is low. The finer product with a larger rate of production was achieved with the attrition bead mill than with the jet mill, thus the attrition grinding is better for the ultrafine grinding of gypsum than the jet grinding. Finally the suitability of the population balance model for simulation of grinding processes has been studied with different S , B , and C functions. A new S function for the modelling of an attrition mill and a new C function for the modelling of a jet mill were developed. The suitability of the selected models with the developed grinding functions was tested by curve fitting the particle size distributions of the grinding products and then comparing the fitted size distributions to the measured particle sizes. According to the simulation results, the models are suitable for the estimation and simulation of the studied grinding processes.

Social Presence Approach Within the Question and Answering eLearning Model: An Experiment with a Multi-Agent System

The model of Questions Answering (Q&A) for eLearning is based on collaborative learning through questions that are posed by students and their answers to that questions which are given by peers, in contrast with the classical model in which students ask questions to the teacher only. In this proposal we extend the Q&A model including the social presence concept and a quantitative measure of it is proposed; besides it is considered the evolution of the resulting Q&A social network after the inclusion of the social presence and taking into account the feedback on questions posed by students and answered by peers. The social network behaviorwas simulated using a Multi-Agent System to compare the proposed social presence model with the classical and the Q&A models

Probing the (empirical) quantum structure embedded in the periodic table with an effective Bohr model

The atomic shell structure can be observed by inspecting the experimental periodic properties of the Periodic Table. The (quantum) shell structure emerges from these properties and in this way quantum mechanics can be explicitly shown considering the (semi-)quantitative periodic properties. These periodic properties can be obtained with a simple effective Bohr model. An effective Bohr model with an effective quantum defect (u) was considered as a probe in order to show the quantum structure embedded in the Periodic Table. u(Z) shows a quasi-smoothed dependence of Z, i.e., u(Z) ≈ Z2/5 - 1.

Thermal modelling of semiconductor switches in three-level Neutral Point Clamped Medium Voltage DTC-inverter

The aim of this thesis is to investigate the thermal loading of medium voltage three-level NPC inverter’s semiconductor IGCT switches in different operation points. The objective is to reach both a fairly accurate off-line simulation program and also so simple a simulation model that its implementation into an embedded system could be reasonable in practice and a real time use should become feasible. Active loading limitation of the inverter can be realized with a thermal model which is practical in a real time use. Determining of the component heating has been divided into two parts; defining of component losses and establishing the structure of a thermal network. Basics of both parts are clarified. The simulation environment is Matlab-Simulink. Two different models are constructed – a more accurate one and a simplified one. Potential simplifications are clarified with the help of the first one. Simplifications are included in the latter model and the functionalities of both models are compared. When increasing the calculation time step a decreased number of considered components and time constants of the thermal network can be used in the simplified model. Heating of a switching component is dependent on its topological position and inverter’s operation point. The output frequency of the converter defines mainly which one of the switching components is – because of its losses and heating – the performance limiting component of the converter. Comparison of results given by different thermal models demonstrates that with larger time steps, describing of fast occurring switching losses becomes difficult. Generally articles and papers dealing with this subject are written for two-level inverters. Also inverters which apply direct torque control (DTC) are investigated rarely from the heating point of view. Hence, this thesis completes the former material.

Synthesis of percarboxylic acids in microreactor

Percarboxylic acids are commonly used as disinfection and bleaching agents in textile, paper, and fine chemical industries. All of these applications are based on the oxidative potential of these compounds. In spite of high interest in these chemicals, they are unstable and explosive chemicals, which increase the risk of synthesis processes and transportation. Therefore, the safety criteria in the production process should be considered. Microreactors represent a technology that efficiently utilizes safety advantages resulting from small scale. Therefore, microreactor technology was used in the synthesis of peracetic acid and performic acid. These percarboxylic acids were produced at different temperatures, residence times and catalyst i.e. sulfuric acid concentrations. Both synthesis reactions seemed to be rather fast because with performic acid equilibrium was reached in 4 min at 313 K and with peracetic acid in 10 min at 343 K. In addition, the experimental results were used to study the kinetics of the formation of performic acid and peracetic acid. The advantages of the microreactors in this study were the efficient temperature control even in very exothermic reaction and good mixing due to the short diffusion distances. Therefore, reaction rates were determined with high accuracy. Three different models were considered in order to estimate the kinetic parameters such as reaction rate constants and activation energies. From these three models, the laminar flow model with radial velocity distribution gave most precise parameters. However, sulfuric acid creates many drawbacks in this synthesis process. Therefore, a ´´greener´´ way to use heterogeneous catalyst in the synthesis of performic acid in microreactor was studied. The cation exchange resin, Dowex 50 Wx8, presented very high activity and a long life time in this reaction. In the presence of this catalyst, the equilibrium was reached in 120 second at 313 K which indicates a rather fast reaction. In addition, the safety advantages of microreactors were investigated in this study. Four different conventional methods were used. Production of peracetic acid was used as a test case, and the safety of one conventional batch process was compared with an on-site continuous microprocess. It was found that the conventional methods for the analysis of process safety might not be reliable and adequate for radically novel technology, such as microreactors. This is understandable because the conventional methods are partly based on experience, which is very limited in connection with totally novel technology. Therefore, one checklist-based method was developed to study the safety of intensified and novel processes at the early stage of process development. The checklist was formulated using the concept of layers of protection for a chemical process. The traditional and three intensified processes of hydrogen peroxide synthesis were selected as test cases. With these real cases, it was shown that several positive and negative effects on safety can be detected in process intensification. The general claim that safety is always improved by process intensification was questioned.

Isolation of microorganisms of cheese whey with lipolytic activity for removal of COD

The aim of this study was to isolate microorganisms that produce lipase and to assess the efficiency of COD removal intreatment of cheese whey under different operating conditions. The microorganisms were isolated from cheese whey and a commercial product; it was selectedthreemicroorganisms that obtained the best response to the lipolytic activity test through the enzyme index. Then, the microorganisms were inoculated in sterilized cheese whey samples, for two pH values (6.2 and 7.0), incubated at 35 °C and 150 rpm in shaker and the lipolityc activity and the efficiency of COD removal were measured in two time periods (24 and 48h). After incubation, it was observed that the treatments showed a good removal efficiency of COD for the pre-treatment and the isolated microorganism (S1) from the cheese whey showed the highest lipase production. Regarding the pH and time variables, there was not significant effect between the two evaluated factors. Among all treatments, T2 (S1, pH 7.0 and 24h) obtained more enzyme production (4.87 U mL-1).

Factors associated with fragility fractures in women over 50 years of age: a population-based household survey

PURPOSE: To analyze the prevalence of and factors associated with fragility fractures in Brazilian women aged 50 years and older. METHODS: This cross-sectional population survey, conducted between May 10 and October 31, 2011, included 622 women aged >50 years living in a city in southeastern Brazil. A questionnaire was administered to each woman by a trained interviewer. The associations between the occurrence of a fragility fracture after age 50 years and sociodemographic data, health-related habits and problems, self-perception of health and evaluation of functional capacity were determined by the χ2 test and Poisson regression using the backward selection criteria. RESULTS: The mean age of the 622 women was 64.1 years. The prevalence of fragility fractures was 10.8%, with 1.8% reporting hip fracture. In the final statistical model, a longer time since menopause (PR 1.03; 95%CI 1.01-1.05; p<0.01) and osteoporosis (PR 1.97; 95%CI 1.27-3.08; p<0.01) were associated with a higher prevalence of fractures. CONCLUSIONS: These findings may provide a better understanding of the risk factors associated with fragility fractures in Brazilian women and emphasize the importance of performing bone densitometry.

Open innovation model for a large company in the ICT industry: Case Ericsson LMF

Open innovation paradigm states that the boundaries of the firm have become permeable, allowing knowledge to flow inwards and outwards to accelerate internal innovations and take unused knowledge to the external environment; respectively. The successful implementation of open innovation practices in firms like Procter & Gamble, IBM, and Xerox, among others; suggest that it is a sustainable trend which could provide basis for achieving competitive advantage. However, implementing open innovation could be a complex process which involves several domains of management; and whose term, classification, and practices have not totally been agreed upon. Thus, with many possible ways to address open innovation, the following research question was formulated: How could Ericsson LMF assess which open innovation mode to select depending on the attributes of the project at hand? The research followed the constructive research approach which has the following steps: find a practical relevant problem, obtain general understanding of the topic, innovate the solution, demonstrate the solution works, show theoretical contributions, and examine the scope of applicability of the solution. The research involved three phases of data collection and analysis: Extensive literature review of open innovation, strategy, business model, innovation, and knowledge management; direct observation of the environment of the case company through participative observation; and semi-structured interviews based of six cases involving multiple and heterogeneous open innovation initiatives. Results from the cases suggest that the selection of modes depend on multiple reasons, with a stronger influence of factors related to strategy, business models, and resources gaps. Based on these and others factors found in the literature review and observations; it was possible to construct a model that supports approaching open innovation. The model integrates perspectives from multiple domains of the literature review, observations inside the case company, and factors from the six open innovation cases. It provides steps, guidelines, and tools to approach open innovation and assess the selection of modes. Measuring the impact of open innovation could take years; thus, implementing and testing entirely the model was not possible due time limitation. Nevertheless, it was possible to validate the core elements of the model with empirical data gathered from the cases. In addition to constructing the model, this research contributed to the literature by increasing the understanding of open innovation, providing suggestions to the case company, and proposing future steps.