Hedging in a discontinuous market: the barrier option

A Work Project, presented as part of the requirements for the Award of a Masters Degree in Finance from the NOVA – School of Business and Economics

Thermo-hydro-mechanical analysis of CO2 injection into deep aquifers

One of the biggest challenges for humanity is global warming and consequently, climate changes. Even though there has been increasing public awareness and investments from numerous countries concerning renewable energies, fossil fuels are and will continue to be in the near future, the main source of energy. Carbon capture and storage (CCS) is believed to be a serious measure to mitigate CO2 concentration. CCS briefly consists of capturing CO2 from the atmosphere or stationary emission sources and transporting and storing it via mineral carbonation, in oceans or geological media. The latter is referred to as carbon capture and geological storage (CCGS) and is considered to be the most promising of all solutions. Generally it consists of a storage (e.g. depleted oil reservoirs and deep saline aquifers) and sealing (commonly termed caprock in the oil industry) formations. The present study concerns the injection of CO2 into deep aquifers and regardless injection conditions, temperature gradients between carbon dioxide and the storage formation are likely to occur. Should the CO2 temperature be lower than the storage formation, a contractive behaviour of the reservoir and caprock is expected. The latter can result in the opening of new paths or re-opening of fractures, favouring leakage and compromising the CCGS project. During CO2 injection, coupled thermo-hydro-mechanical phenomena occur, which due to their complexity, hamper the assessment of each relative influence. For this purpose, several analyses were carried out in order to evaluate their influences but focusing on the thermal contractive behaviour. It was finally concluded that depending on mechanical and thermal properties of the pair aquifer-seal, the sealing caprock can undergo significant decreases in effective stress.

Planning and verification of multipath routing protocols

Conventionally the problem of the best path in a network refers to the shortest path problem. However, for the vast majority of networks present nowadays this solution has some limitations which directly affect their proper functioning, as well as an inefficient use of their potentialities. Problems at the level of large networks where graphs of high complexity are commonly present as well as the appearing of new services and their respective requirements, are intrinsically related to the inability of this solution. In order to overcome the needs present in these networks, a new approach to the problem of the best path must be explored. One solution that has aroused more interest in the scientific community considers the use of multiple paths between two network nodes, where they can all now be considered as the best path between those nodes. Therefore, the routing will be discontinued only by minimizing one metric, where only one path between nodes is chosen, and shall be made by the selection of one of many paths, thereby allowing the use of a greater diversity of the present paths (obviously, if the network consents). The establishment of multi-path routing in a given network has several advantages for its operation. Its use may well improve the distribution of network traffic, improve recovery time to failure, or it can still offer a greater control of the network by its administrator. These factors still have greater relevance when networks have large dimensions, as well as when their constitution is of high complexity, such as the Internet, where multiple networks managed by different entities are interconnected. A large part of the growing need to use multipath protocols is associated to the routing made based on policies. Therefore, paths with different characteristics can be considered with equal level of preference, and thus be part of the solution for the best way problem. To perform multi-path routing using protocols based only on the destination address has some limitations but it is possible. Concepts of graph theory of algebraic structures can be used to describe how the routes are calculated and classified, enabling to model the routing problem. This thesis studies and analyzes multi-path routing protocols from the known literature and derives a new algebraic condition which allows the correct operation of these protocols without any network restriction. It also develops a range of software tools that allows the planning and the respective verification/validation of new protocols models according to the study made.

Work satisfaction and affective commitment of classical musicians: The European Union Youth Orchestra

This work project investigates career paths in the music field, by testing the application of general career and social theories for musicians. Using a sample from the European Union Youth Orchestra’ Alumni, the Boundaryless Career Theory, Intelligent Career Framework and Social Identity Theory were analysed through the impact on individual outcomes - musicians’ Overall work satisfaction and Affective commitment to the orchestra. Results suggest support for the three theories, and show their applicability for classical musicians’ careers.

Novo sistema de armaduras de punçoamento

Esta dissertação apresenta os resultados de um conjunto de ensaios sobre lajes fungiformes, armadas com um novo sistema de armaduras de punçoamento. Adicionalmente, também foram testadas lajes fungiformes com um novo sistema de armaduras horizontais. O sistema de armaduras de punçoamento consiste em estribos de ramos verticais produzidos a partir de malhas de varões eletrossoldados, ancorados na armadura longitudinal superior por um varão transversal eletrossoldado. As vantagens deste sistema são a simplicidade, a rapidez de instalação e o baixo custo. O sistema de armaduras horizontais é formado por um conjunto de malhas de varões eletrossoldados sobrepostas em camadas. Foram ensaiadas cinco lajes quadradas, com dimensões em planta de 1650 x 1650 mm e 150 mm de espessura. Os resultados experimentais mostraram que a capacidade resistente das lajes armadas com armaduras específicas pode aumentar até 72%, quando comparadas com lajes sem armaduras de punçoamento. Quanto à capacidade de rotação da laje, o aumento foi ainda mais significativo. A capacidade de deformação da laje com maior quantidade de armaduras de punçoamento aumentou três vezes, quando comparada com a laje de referência. No respeitante às armaduras horizontais, os resultados obtidos demonstram que este sistema pode contribuir para o aumento da capacidade resistente pós-colapso da laje. Os resultados experimentais foram comparados com as estimativas segundo algumas normas de dimensionamento atuais e a Critical Shear Crack Theory. Em lajes com grande quantidade de armaduras de punçoamento o EC2 pode sobrestimar a resistência ao punçoamento quando a rotura ocorre por esmagamento do betão junto do pilar, ou quando a rotura ocorre pelo exterior da zona com armaduras de punçoamento. Os resultados mostraram que o MC2010 subestima significativamente a resistência ao punçoamento com rotura no interior da zona com armaduras de punçoamento.

Impact of oral health on health-related quality of life : A cross-sectional study

Background: Despite the consensus regarding the existence of a relationship between “impacts on oral health” and “health-related quality of life”, this relationship, considering the latent nature of these variables, is still poorly investigated. Thus, we performed this study in order to determine the magnitude of the impacts of oral health, demographic and symptom/clinical variables on the health-related quality of life in a Brazilian sample of dental patients. Methods: A total of 1,007 adult subjects enrolled in the School of Dentistry of São Paulo State University (UNESP) - Araraquara Campus for dentistry care between September/2012 and April/2013, participated. 72.4 % were female. The mean age was 45.7 (SD = 12.5) years. The Oral Health Impact Profile (OHIP-14) and the Short Form Health Survey (SF-36) were used. The demographic and symptom/clinical variables collected were gender, age, economic status, presence of pain and chronic disease. The impact of studied variables on health-related quality of life were evaluated with a structural equation model, considering the factor “Health” as the central construct. The fit of the model was first analyzed by the evaluation of the goodness of fit indices (χ 2 /df ≤ 2.0, CFI and TLI ≥ 0.90 and RMSEA < 0.10) and the evaluation of the variables’ impact over health-related quality of life was based on the statistical significance of causal paths (β), evaluated by z tests, for a significance level of 5 %. Results: We observed adequate fit of the model to the data (χ 2 /df = 3.55; CFI = 0.95; TLI = 0.94; RMSEA = 0.05). The impacts on oral health explained 28.0 % of the variability of the health-related quality of life construct, while the total variance explained of the model was 39.0 %. For the demographic and symptom/clinical variables, only age, presence of pain and chronic disease showed significant impacts (p < 0.05). Conclusion: The oral health, age, presence of pain and chronic disease of individuals had significant influence on health-related quality of life.

Analysis of world economic variables using multidimensional scaling

Waves of globalization reflect the historical technical progress and modern economic growth. The dynamics of this process are here approached using the multidimensional scaling (MDS) methodology to analyze the evolution of GDP per capita, international trade openness, life expectancy, and education tertiary enrollment in 14 countries. MDS provides the appropriate theoretical concepts and the exact mathematical tools to describe the joint evolution of these indicators of economic growth, globalization, welfare and human development of the world economy from 1977 up to 2012. The polarization dance of countries enlightens the convergence paths, potential warfare and present-day rivalries in the global geopolitical scene.

Use of licit and illicit drugs at the university of Alfenas

This paper reports the study of drug consumption carried out within the population of undergraduate students from 2 colleges of Alfenas, in the state of Minas Gerais state. Both licit and illicit drugs were studied, including alcohol, tobacco, marijuana, cocaine, heroin, crack, inhalants, glue, tranquilizers, stimulants, and others. METHODOLOGY: The research included a wide bibliographical search and the application of a questionnaire to approximately 23% of the students (total of 6500 students). RESULTS: A total of 1500 students participated in this investigation. The results demonstrated that there was a significant consumption of both licit and illicit drugs. The pattern of drug consumption in the research sample was similar to other investigations conducted in Brazil and in other countries. DISCUSSION: It was observed that 55% of the university students use drugs. However, the most surprising finding was that most of the students (88%) answered "yes" to the inquiry, "Have you already tried any type of drug, including alcohol and cigarettes?" The students revealed that they had taken drugs even prior to the admission to the university. The results suggest clearly that the university environment does not necessarily represent the starting point for student drug consumption.

Eutanásia ativa

Euthanasia, especially the active one, has always been an extremely discussed subject, which goes further pure dogmatics and transcends the strictly legal field. A reflection about such issue makes us re-think on what it implies for all the involved without ever loosing sight of the fact that admitting a legalization is, in a legal system as ours, to admit the lack of punishment of an homicide act or an assistance to suicide. However, burying in mind the foreign experiences, isn’t there a possibility of working on a path that respects both the basis of our legal system and the rest of the interests involved? And what interests would those be? How to admit such a path? Based on what assumptions? The present study proposes a discovery of paths and not the search for dead ends, creating definitive answers. The purpose of this dissertation is to explore the existing structure of the Portuguese legal system on these matters, in a path that is until now mostly in favour of punishment, based on homicide or assisted suicide crimes. Along with the Portuguese dynamic, we want to analyse legal systems that opted by decriminalization and, based on those experiences, shared with our legal culture, scan the viability of a decriminalization procedure. What paths would be viable for such a decriminalization in Portuguese criminal territory? The scope is only to open the eyes of who always wanted to keep them shut, or to who just never tried to open them, because at the end of the day it will always be a discussion that we want to keep light up, since that what we are here discussing is life. We want discussion, not imposition.

Dispondo de si : autonomia, género e envelhecimento nos quotidianos de saúde

Esta tese de doutoramento tem como objectivo geral compreender as experiências de autonomia individual na actual geração de adultos mais velhos, enquadrados pelas construções identitárias de género e assumindo como plataforma de observação as vivências quotidianas de saúde. Para tanto, justifica-se a centralidade do valor da autonomia individual na contemporaneidade, para depois se problematizar o conceito a partir de uma perspectiva feminista, com base na conceptualização proposta por este corpo teórico. O feminismo propõe a adopção do conceito de autonomia relacional, que ao reconhecer a natureza social do self e das identidades, é capaz de proporcionar uma leitura crítica e contextualizada da autonomia de cada sujeito, por integrar não só as especificidades, estímulos, oportunidades e contingências de um tempo e de um espaço social, como também o poder resolutivo, transformador e de resistência da agência individual. A vivência da velhice constitui, cada vez mais, um exercício de individualidade. No envelhecer, a vivência da saúde ganha especiais contornos. Não só porque o cuidar de si se tornou um aspecto biográfico de progressiva acentuação, como também por ser este um tempo da vida em que os dilemas, inquietações e exigências com o corpo se acentuam. A individualização dos trajectos biográficos que nas sociedades contemporâneas surge com cada vez maior expressão sugere a importância do estudo das diferentes ecologias sociais, com base na precisão e no detalhe. A tese adoptou uma estratégia metodológica de estudos de casos, concretizada num estudo de caso múltiplo, de tipo qualitativo. Os sentidos conferidos às experiências da autonomia individual pela actual geração de adultos mais velhos, nos seus quotidianos de saúde, mobilizam e matizam diferentes modelos culturais, iluminando a ideia de uma transição sociocultural que abandona parcialmente certos aspectos, mas que mantém tantos outros. No envelhecer, a vivência da autonomia individual é mediatizada por diferentes performatividades femininas e masculinas, tendo sido três os espaços principais de expressão social da autonomia, resultantes do seu cruzamento com o género, enquanto dimensão de análise principal. Tem-se que estas diferenças entre espaços factoriais vêm demonstrar o hibridismo dos posicionamentos resultante da crescente individualidade das trajectórias de vida. Face à saúde, a capacidade de adaptação e de auto-gestão mais positivos relacionam-se, face às mulheres, com a expressão singular de uma maior individualidade e, face aos homens, com o valor social conferido a diferentes masculinidades.

The influence of fibre orientation on the post-cracking tensile behaviour of steel fibre reinforced self-compacting concrete

Adding fibres to concrete provides several advantages, especially in terms of controlling the crack opening width and propagation after the cracking onset. However, distribution and orientation of the fibres toward the active crack plane are significantly important in order to maximize its benefits. Therefore, in this study, the effect of the fibre distribution and orientation on the post-cracking tensile behaviour of the steel fibre reinforced self-compacting concrete (SFRSCC) specimens is investigated. For this purpose, several cores were extracted from distinct locations of a panel and were subjected to indirect (splitting) and direct tensile tests. The local stress-crack opening relationship (σ-w) was obtained by modelling the splitting tensile test under the finite element framework and by performing an Inverse Analysis (IA) procedure. Afterwards the σ-w law obtained from IA is then compared with the one ascertained directly from the uniaxial tensile tests. Finally, the fibre distribution/orientation parameters were determined adopting an image analysis technique.

Numerical simulation of galvanized rebars pullout

The usage of rebars in construction is the most common method for reinforcing plain concrete and thus bridging the tensile stresses along the concrete crack surfaces. Usually design codes for modelling the bond behaviour of rebars and concrete suggest a local bond stress – slip relationship that comprises distinct reinforcement mechanisms, such as adhesion, friction and mechanical anchorage. In this work, numerical simulations of pullout tests were performed using the finite element method framework. The interaction between rebar and concrete was modelled using cohesive elements. Distinct local bond laws were used and compared with ones proposed by the Model Code 2010. Finally an attempt was made to model the geometry of the rebar ribs in conjunction with a material damaged plasticity model for concrete.

A FEM-based model to study the behaviour of corroded RC beams shear repaired by NSM CFRP rods technique

This paper presents the main features of finite element FE numerical model developed using the computer code FEMIX to predict the near-surface mounted NSM carbon-fiber-reinforced polymer CFRP rods shear repair contribution to corroded reinforced concrete RC beams. In the RC beams shear repaired with NSM technique, the Carbon Fibre Reinforced Polymer (CFRP) rods are placed inside pre-cut grooves onto the concrete cover of the RC beam’s lateral faces and are bonded to the concrete with high epoxy adhesive. Experimental and 3D numerical modelling results are presented in this paper in terms of load-deflection curves, and failure modes for 4 short corroded beams: two corroded beams (A1CL3-B and A1CL3-SB) and two control beams (A1T-B and A1T-SB), the beams noted with B were let repaired in bending only with NSM CFRP rods while the ones noted with SB were repaired in both bending and shear with NSM technique. The corrosion of the tensile steel bars and its effect on the shear capacity of the RC beams was discussed. Results showed that the FE model was able to capture the main aspects of the experimental load-deflection curves of the RC beams, moreover it has presented the experimental failure modes and FE numerical modelling crack patterns and both gave similar results for non-shear repaired beams which failed in diagonal tension mode of failure and for shear-repaired beams which failed due to large flexural crack at the middle of the beams along with the concrete crushing, three dimensional crack patterns were produced for shear-repaired beams in order to investigate the splitting cracks occurred at the middle of the beams and near the support.

Modelo para calcular a contribuição da fibra na resistência à punção de lajes em concreto reforçado com fibra de aço

Neste artigo, formulações analíticas são desenvolvidas para calcular a resistência à punção de lajes lisas de concreto reforçado com fibras de aço (CRFA) e que também são reforçadas à flexão por barras de aço (reforço convencional). A partir de análises estatísticas sobre um banco de dados que reúne resultados experimentais de caracterização do comportamento pós-fissuração do CRFA, equações são estabelecidas para avaliar parâmetros da resistência residual à tração na flexão (fRi) a partir de informações fundamentais que caracterizam a fibra de aço. O parâmetro de resistência fRi, proposto pelo ModelCode10 foi usado para definir a lei tensão-abertura da fissura (σ-w) que simula o mecanismo de reforço da fibra em um material cimentício. A segunda parte do artigo descreve uma formulação analítica baseada nos conceitos propostos por Muttoni e Ruiz, onde a lei σ-w é convenientemente integrada para simular a contribuição da fibra de aço na resistência à punção de lajes em CRFA. A partir de um banco de dados, composto de 154 ensaios de punção, o bom desempenho da proposta apresentada é demonstrado. O desempenho do modelo também é evidenciado comparando-se os seus resultados a outros modelos.

Modelo para calcular a resistência à punção de lajes lisas simétricas reforçadas com fibras de aço

O presente artigo discute a metodologia de um novo modelo para calcular a resistência à punção simétrica de lajes de concreto reforçado com fibras de aço (CRFA). O modelo é fundamentado na teoria da fissura crítica de cisalhamento de Muttoni e seus coautores e na proposta do ModelCode10 para simular o comportamento pós-fissuração do CRFA. O desempenho do modelo é avaliado a partir de um banco de dados (BD), coletado da literatura técnica, que totaliza 154 lajes. Os resultados são avaliados em função da precisão, da dispersão e do nível de conservadorismo, a partir do parâmetro λ=Vexp/Vteo, sendo Vexp e Vteo, respectivamente, os resultados obtidos do BD e do modelo. Finalmente, para confirmar o desempenho do modelo, os seus resultados são comparados a outros 7 modelos da literatura técnica e ambos são classificados segundo o critério modificado de Collins, o Demerit Points Classifications – DPC.