Bertrand, Cournot and monopolistically competitive equilibria

Using an example, we study the analogs, for the differentiated product case, of the Cournot and Bertrand equilibria. These equilibria can be shown to exist and be uni que if we impose a sim pie and natural restriction on the elasticities of the demand functions for the differentiated products. Our characterizations of these equilibria make it possible to compare them and to determine how they are affected by the size of the market and the number of firms. We are also able to prove the existence of Cournot free-entry equilibria in which the number of firms is determined endogenously. In addition, we are able to prove that, in a large market, the Cournot free-entry equilibria approximate the Dixit-Stiglitz monopolistically competitive equilibria. The free-entry equilibrium concept we study is an analog of the one studied by Novshek for the case of firms selling products that are perfect substitutes. Our results are extensions of Novshek's. While we were unable to establish a general existence result for Bertrand free-entry equilibria, we were able to prove that, when these equilibria exist, they are unique and that in large markets they also approximate the Dixit-Stiglitz equilibria.

Simulation-based smoothing and filtering in factor stochastic volatility models : two econometric applications

In this article we use factor models to describe a certain class of covariance structure for financiaI time series models. More specifical1y, we concentrate on situations where the factor variances are modeled by a multivariate stochastic volatility structure. We build on previous work by allowing the factor loadings, in the factor mo deI structure, to have a time-varying structure and to capture changes in asset weights over time motivated by applications with multi pIe time series of daily exchange rates. We explore and discuss potential extensions to the models exposed here in the prediction area. This discussion leads to open issues on real time implementation and natural model comparisons.

Bayesian analysis of extreme events with threshold estimation

The aim of this paper is to analyze extremal events using Generalized Pareto Distributions (GPD), considering explicitly the uncertainty about the threshold. Current practice empirically determines this quantity and proceeds by estimating the GPD parameters based on data beyond it, discarding all the information available be10w the threshold. We introduce a mixture model that combines a parametric form for the center and a GPD for the tail of the distributions and uses all observations for inference about the unknown parameters from both distributions, the threshold inc1uded. Prior distribution for the parameters are indirectly obtained through experts quantiles elicitation. Posterior inference is available through Markov Chain Monte Carlo (MCMC) methods. Simulations are carried out in order to analyze the performance of our proposed mode1 under a wide range of scenarios. Those scenarios approximate realistic situations found in the literature. We also apply the proposed model to a real dataset, Nasdaq 100, an index of the financiai market that presents many extreme events. Important issues such as predictive analysis and model selection are considered along with possible modeling extensions.

Trust-based trade

There is substantially more trade within national borders than across borders. An important explanation for this fact is the weak enforcement of international contracts. We develop a model in which agents build reputations to overcome this institutional failure. The model describes the interplay between institutional quality, reputations and the dynamics of international trade. It also rationalizes several empirical regularities. We find that history matters for trade volumes, but that its effects vary with the institutional setting of the country. The same is true for the efticacy of trade liberalization programs. Moreover, while stricter enforcement of contracts enhances trade in the short run, it makes it harder for individual traders to develop good reputations. We show that this indirect negative effect may produce an "institutional trap": for sufliciently low initial levels of contract enforcement, a small tightening in enforcement reduces future trade fiows. We find also that search frictions aggravate the problems created by weak enforceability of contracts, even if they impose no direct cost on agents. The model allows extensions in several directions. We outline two of them, indicating how one could study transnational networks and the effects of firm heterogeneity within our structure.

Line extension influence on brand image: a study on the alcoholic beverage market in Brazil

The present study has the objective of understanding the influence of line extensions on the image of vodka brands. The research was performed by organizing various focus groups with vodka consumers in São Paulo. These focus groups allowed exploring and analyzing how the last line extensions of vodka brands have modified the image the consumers had of the brand. Three hypotheses were distinguished as an outcome of the research: (1) The influence of a line extension on brand image depends heavily on the initial image the consumers have of the brand. For a vodka brand with an average or bad image, launching a line extension with a perceived average or bad quality does not modify the brand image. On the contrary, for a vodka brand with a positive initial brand image, launching a line extension with perceived high quality led to a positive change in the brand image. (2) For vodka brands, a vertical line extension recognized as having high authenticity provokes a transfer of attributes from the extended product to the brand. (3) Among Keller’s (1993) dimensions of brand image, non-product related attributes and especially packaging are the one that are the most influenced by line extensions of vodka brands.

Microfounded forecasting

Our focus is on information in expectation surveys that can now be built on thousands (or millions) of respondents on an almost continuous-time basis (big data) and in continuous macroeconomic surveys with a limited number of respondents. We show that, under standard microeconomic and econometric techniques, survey forecasts are an affine function of the conditional expectation of the target variable. This is true whether or not the survey respondent knows the data-generating process (DGP) of the target variable or the econometrician knows the respondents individual loss function. If the econometrician has a mean-squared-error risk function, we show that asymptotically efficient forecasts of the target variable can be built using Hansens (Econometrica, 1982) generalized method of moments in a panel-data context, when N and T diverge or when T diverges with N xed. Sequential asymptotic results are obtained using Phillips and Moon s (Econometrica, 1999) framework. Possible extensions are also discussed.

Assessment of value creation in private equity: the acquisition of Burger King by 3G Capital

This thesis elaborates the creation of value in private equity and in particular analyzes value creation in 3G Capital’s acquisition of Burger King. In this sense, a specific model is applied that composes value creation into several drivers, in order to answer the question of how value creation can be addressed in private equity investments. Although previous research by Achleitner et al. (2010) introduced a specific model that addresses value creation in private equity, the respective model was neither applied to an individual company, nor linked to indirect drivers that explain the dynamics and rationales for the creation of value. In turn this paper applies the quantitative model to an ongoing private equity investment and thereby provides different extensions to turn the model into a better forecasting model for ongoing investments, instead of only analyzing a deal that has already been divested from an ex post perspective. The chosen research approach is a case study about the Burger King buyout that first includes an extensive review about the current status of academic literature, second a quantitative calculation and qualitative interpretation of different direct value drivers, third a qualitative breakdown of indirect drivers, and lastly a recapitulating discussion about value creation and value drivers. Presenting a very successful private equity investment and elaborately demonstrating the dynamics and mechanisms that drive value creation in this case, provides important implications for other private equity firms as well as public firms in order to develop their proprietary approach towards value creation.

BlueFriends: measuring, analyzing and preventing social exclusion between elementary school students

Social exclusion is a relatively recent term, whose creation is attributed to René Lenoir(Lenoir, 1974). Its concept covers a remarkably wide range of social and economic problems, and can be triggered for various reasons: mentally and physically handicapped, abused children, delinquents, multi-problem households, asocial people, and other social “misfits” (Silver, 1995, pp. 63; Foucault, 1992). With an increasingly multi-cultural population, cultural and social inequalities rapidly ascend, bringing with them the need for educational restructuring. We are living in an evermore diverse world, and children need to be educated to be receptive to the different types of people around them, especially considering social and cultural aspects. It is with these goals that inclusive education has seen an increased trend in today’s academic environment, reminding us that even though children may be taught under the same roof, discriminatory practices might still happen. There are, however, a number of developed tools to assess the various dimensions of social networks. These are mostly based on questionnaires and interviews, which tend to be fastidious and don’t allow for longitudinal, large scale measurement. This thesis introduces BlueFriends, a Bluetooth-based measurement tool for social inclusion/exclusion on elementary school classes. The main goals behind the development of this tool were a) understanding how exclusion manifests in students’ behaviors, and b) motivating pro-social behaviors on children through the use of a persuasive technology. BlueFriends is a distributed application, comprised by an application running on several smartphones, a web-hosted database and a computer providing a visual representation of the data collected on a TV screen, attempting to influence children behaviors. The application makes use of the Bluetooth device present on each phone to continuously sample the RSSI (Received Signal Strength Indication) from other phones, storing the data locally on each phone. All of the stored data is collected, processed and then inserted into the database at the end of each day. At the beginning of each recess, children are reminded of how their behaviors affect others with the help of a visual display, which consists of interactions between dogs. This display illustrates every child’s best friends, as well as which colleagues they don’t interact with as much. Several tips encouraging social interaction and inclusiveness are displayed, inspiring children to change their behaviors towards the colleagues they spend less time with. This thesis documents the process of designing, deploying and analyzing the results of two field studies. On the first study, we assess how the current developed tools are inferior to our measuring tool by deploying a measurement only study, aimed at perceiving how much information can be obtained by the BlueFriends application and attempting to understand how exclusion manifests itself in the school environment. On the second study, we pile on the previous to try and motivate pro-social behaviors on students, with the use of visual cues and recommendations. Ultimately, we confirm that our measurement tool’s results were satisfying towards measuring and changing children’s behaviors, and conclude with our thoughts on possible future work, suggesting a number of possible extensions and improvements.

Compressão de imagem e vídeo com controlador ARM

Este trabalho foi desenvolvido num estágio na empresa ABS GmbH sucursal em Portugal, e teve como foco a compressão de imagem e vídeo com os padrões JPEG e H.264, respetivamente. Foi utilizada a plataforma LeopardBoard DM368, com um controlador ARM9. A análise do desempenho de compressão de ambos os padrões foi realizada através de programas em linguagem C, para execução no processador DM368. O programa para compressão de imagem recebe como parâmetros de entrada o nome e a resolução da imagem a comprimir, e comprime-a com 10 níveis de quantização diferentes. Os resultados mostram que é possível obter uma velocidade de compressão até 73 fps (frames per second) para a resolução 1280x720, e que imagens de boa qualidade podem ser obtidas com rácios de compressão até cerca de 22:1. No programa para compressão de vídeo, o codificador está configurado de acordo com as recomendações para as seguintes aplicações: videoconferência, videovigilância, armazenamento e broadcasting/streaming. As configurações em cada processo de codificação, o nome do ficheiro, o número de frames e a resolução do mesmo representam os parâmetros de entrada. Para a resolução 1280x720, foram obtidas velocidades de compressão até cerca de 68 fps, enquanto para a resolução 1920x1088 esse valor foi cerca de 30 fps. Foi ainda desenvolvida uma aplicação com capacidades para capturar imagens ou vídeos, aplicar processamento de imagem, compressão, armazenamento e transmissão para uma saída DVI (Digital Visual Interface). O processamento de imagem em software permite melhorar dinamicamente as imagens, e a taxa média de captura, compressão e armazenamento é cerca de 5 fps para a resolução 1280x720, adequando-se à captura de imagens individuais. Sem processamento em software, a taxa sobe para cerca de 23 fps para a resolução 1280x720, sendo cerca de 28 fps para a resolução 1280x1088, o que é favorável à captura de vídeo.

Diversidade de macroalgas marinhas bentônicas dos recifes de Maracajaú, área de preservação ambiental dos recifes de corais, Rio Grande do Norte, Brasil

Despite the importance of coral reefs to humanity, these environments have been threatened throughout the world. Several factors contribute to the degradation of these ecosystems. The Maracajaú Reef Complex, in Rio Grande do Norte state is part of the Coral Reefs Environment Preservation Area in northeastern Brazil. This area has been receiving an increasing influx of tourism and the integrity of the local reefs is a matter of concern. In this study, the reef macroalgae communities were studied and compared within two areas distinguished by the presence or absence of tourism activities. Two sample sites were chosen: the first one, where diving activities are intense; and the other, where these practices do not occur. Samples were collected at both sites within a quadrate of 625 cm2 of area randomly thrown 5 times along a 10 meters transect line. Richness, Shannon-Hill diversity and Simpson dominance indices were determined based on biomass data. Similarity between sites was analyzed with Bray-Curtis similarity and distance index. Fifty-eight macroalgae species were observed, including 7 Chlorophyta, 13 Phaeophyta and 38 Rhodophyta. In the non-disturbed site, 49 species were found, while at the disturbed site, there were 42 species. Dictyotaceae and Corallinaceae were the most representative families at the non-disturbed site, and Rhodomelaceae and Dictyotaceae at the disturbed site. The non-disturbed site presented a higher biomass and the greatest richness and diversity indices. In the disturbed site the dominance index was greater and Caulerpa racemosa was the dominant species. The dendogram based on similarity index showed two major clusters, and an isolated element at the center that corresponds to a sample from the disturbed site. In the first cluster, samples from the non-impacted site were predominant and fleshy brown algae were more conspicuous. The second cluster was composed primarily of samples from the impacted site, where C. racemosa and red filamentous and erect calcareous algae associations (turf forming) were observed covering large extensions. These associations are represented by groups of algae adapted to environments where disturbances are frequent. They can grow rapidly on substrate where benthic community was removed and do not allow the establishment of other species. The results of the present study show that tourism activity is an impacting factor that has been causing shifts in macroalgae communities in the Maracajaú Reef Complex

Leaf anatomy of rubber-tree clones

A seringueira é uma planta de fácil reconhecimento por ser lenhosa, de porte mediano a grande, que apresenta um padrão característico de desfolha e reenfolhamento e, sobretudo, pela produção de látex. O objetivo do trabalho foi efetuar um estudo anatômico e morfológico foliar, comparando os clones RRIM 600 e GT 1 de seringueira &91;Hevea brasiliensis (Wild. ex Adr. de Juss.) Muell.- Arg&93;, desenvolvidos sob as mesmas condições edáficas e climáticas, para obtenção de informações que possam fornecer subsídios para correlações com dados fisiológicos e também diferenciar os clones em relação ao conteúdo de fibras, espessamento de tecidos do parênquima paliçádico e do parênquima lacunoso, caracterização anatômica do pecíolo, número e tamanho de estômatos e fornecer dados referentes a morfologia foliolar. Foram realizadas secções transversais na região do mesófilo, nervura central e pecíolo, seguindo-se os métodos usuais de preparação de lâminas permanentes. Foram realizadas análises biométricas de extensões de tecidos dos parênquimas paliçádico e lacunoso e contagem do número de células do parênquima lacunoso. Paralelamente foram realizadas análises biométricas para aferições de estômatos. Não houve diferenças para a altura das células epidérmicas, altura e número de camadas do parênquima lacunoso e para o comprimento e para a maior largura do limbo foliolar. Porém houve variação para a espessura das células do parênquima paliçádico, sendo que GT 1 apresentou maior espessura em relação a RRIM 600. GT1 apresentou maior número de estômatos em relação a RRIM 600, porém com menor tamanho. GT1 apresentou maior diâmetro da nervura central da folha e do pecíolo e maior quantidade de fibras de esclerênquima que RRIM 600.

O exame neurológico do recém-nascido pré-termo não complicado: avaliação pela escala de saint-anne dargassies, e screening pelas escalas de amiel-barrier-shnider modificada e prechtl ao termo

This study compared the evolution of posture, tone and neonatal reflexes in preterm infants without clinical or neurological complications before and after the age of term using the scale of Saint-Anne Dargassies. To reach the age of the term, was applied Scales Amiel-Barrier-Shnider changed and the Prechtl, traditionally used in the evaluation of term newborns, looking for possible changes to the term, while also evaluating the sensitivity of these scales. We studied 20 non-complicated preterm infants, both sexes aged 32-36 weeks, born in Januário Cicco Maternity School, from August 2006 to August 2007. Was applied to the scale of Saint-Anne Dargassies every two weeks until reach the term, and the range of Amiel-Barrier-Shnider changed and the Prechtl, after reaching 39 and 41 weeks. The evaluation result of articular angles was subjected to the test of Friedman ANOVA, significant differences between the three measurements of the scale of Saint-Anne Dargassies only for angles heel-to-ear to term. Neonatal reflexes changed in the period of prematurity were the cardinal points reflexes, Moro reflexes, cross extensions reflex and the automatic walking reflexes. The posture was the parameter which remained unchanged in the three scales. Considering a significance level of 5% by applying Cochran Q Test, it was found that the scale of Saint-Anne Dargassies is more sensitive to detect suspects. With this methodology and the results it was possible to prepare a manuscript: The neurological examination of non-complicated preterm newborns using the Sanit-Anne Dargssies Scale from birth to term: normal or altered? In which we describe that despite the good clinical condition, the RNP show changes in tone and neonatal reflexes. These data are important because though non-complicated RNP need further attention its maturation process, enabling us to detect and intervene early. With these results we can build a scale simplified neurological assessment made with items found most altered during the application of three scales. The development of this project has a multidisciplinary approach, because it involved Paediatric Neurologist, Physiotherapist and Neonatologist, as recommended by PPGCSA

Microscopia eletrônica de varredura de duas espécies de Fannia Robineau-Desvoidy (Diptera, Fanniidae)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Ambiente pesqueiro e saúde: representações sociais sobre saúde e doença de pescadores e marisqueiras nos distritos de Diogo Lopes, Barreiras e Sertãozinho Macau RN

According to Brazil s Ministry of Fisheries and Aquaculture, artisanal fishermen are responsible for a significant fish production at national level, highlighting the importance of this activity. In Rio Grande do Norte State, Brazil, fishing has become an important part of economic and social processes. In this context, there are many inland fishing communities such as Barreiras, Diogo Lopes and Sertãozinho, which are part of Ponta do Tubarão State Reserve of Sustainable Development (RDSEPT), located in Macau and Guamaré, Rio Grande do Norte coastline cities. Fishermen and women, the last ones known as marisqueiras who work alongside the menfolk at sea, especially in the shellfish harvest, have been developing narrow relationships with nature, mainly with the sea, from where they extract their families subsistence. However, those communities have been facing several issues related to living conditions, health and diseases. Social representations have been analyzed in the speeches of fishermen/women who were registered active members in a fishermen association named Associação Colônia de Pescadores Z-41, regarding the period from 2008 to 2011. The analysis involved socio-economic profiles verification, identification and analysis of the group s main representative diseases and representations related to health and illness. This study searched for elements in order to provide the comprehension of the relationships among people s social representations and the fishing environment in which they live.. This qualiquantitative study was performed using recordings and transcriptions of structured and open-question interviews. The Collective Subject Speech tecnique proposed by Lefevre & Lefevre (2002) was applied to perform the interviews analysis using QualiQuantiSoft® software. The results showed that health and illness phenomena as well as social representations related to them in the fishing environment are not only abstract states but also physical ones, which interfere in all life extensions, establishing a set of relevant information that indicates that those people realize their own socio-cultural, economic, environmental and political context

Avaliação da atividade turística sobre a composição e a distribuição das macroalgas marinhas nos recifes de Pirangi (Rio Grande do Norte, Brasil)

The reef area of Pirangi beach has been experiencing antropogenic actions, mainly due to tourism activity. In order to evaluate these effects, surveys on seaweeds were conducted at nine stations located over the fringing reef. Benthic community (seaweeds/corals) were identified using the photoquadrat method, with 50 meters random transects located paralleled to the coast. The general categories evaluated in each transect were: rock, sand, seaweeds, corals and mollusks. Data achieved were processed at Coral Point Count with Excel Extensions software. A total of 30 seaweed species, 5 coral species and 1 mollusk species were identified. There was a high dominance of short algae at stations with high tourism pressure, whereas frondose algae usually occurred at places without human interference. Seaweeds with the highest percent cover were composed by Sargassum vulgare (59%), Caulerpa racemosa (47%) and Dictyopteris delicatula (33%). Cluster analyses considering benthic organisms revealed five benthic features: (1) submersed area characterized by a diversified marine flora; (2) area with dominance of Caulerpa racemosa and presence of Millepora alcicornis; (3) area with high cover of Sargassum vulgare; (4) trampling area characterized by bare rocks, short algae and Zoanthus sociatus and (5) area with high coverage of Palythoa caribaeroum. Obtained data suggest that the studied area has been damaged by tourism activities. Furthermore, observed differences in algal communities may be a good indicator of ecosystem health of Pirangi reefs