Higher-order analysis of crack-tip fields in power-law hardening materials

In this paper, we present an exact higher-order asymptotic analysis on the near-crack-tip fields in elastic-plastic materials under plane strain, Mode I. A four- or five-term asymptotic series of the solutions is derived. It is found that when 1.6 < n less-than-or-equal-to 2.8 (here, n is the hardening exponent), the elastic effect enters the third-order stress field; but when 2.8< n less-than-or-equal-to 3.7 this effect turns to enter the fourth-order field, with the fifth-order field independent. Moreover, if n>3.7, the elasticity only affects the fields whose order is higher than 4. In this case, the fourth-order field remains independent. Our investigation also shows that as long as n is larger than 1.6, the third-order field is always not independent, whose amplitude coefficient K3 depends either on K1 or on both K1 and K2 (K1 and K2 arc the amplitude coefficients of the first- and second-order fields, respectively). Firmly, good agreement is found between our results and O'Dowd and Shih's numerical ones[8] by comparison.

Higher-order analysis of crack tip fields in elastic power-law hardening materials

A HIGHER-ORDER asymptotic analysis of a stationary crack in an elastic power-law hardening material has been carried out for plane strain, Mode 1. The extent to which elasticity affects the near-tip fields is determined by the strain hardening exponent n. Five terms in the asymptotic series for the stresses have been derived for n = 3. However, only three amplitudes can be independently prescribed. These are K1, K2 and K5 corresponding to amplitudes of the first-, second- and fifth-order terms. Four terms in the asymptotic series have been obtained for n = 5, 7 and 10; in these cases, the independent amplitudes are K1, K2 and K4. It is found that appropriate choices of K2 and K4 can reproduce near-tip fields representative of a broad range of crack tip constraints in moderate and low hardening materials. Indeed, fields characterized by distinctly different stress triaxiality levels (established by finite element analysis) have been matched by the asymptotic series. The zone of dominance of the asymptotic series extends over distances of about 10 crack openings ahead of the crack tip encompassing length scales that are microstructurally significant. Furthermore, the higher-order terms collectively describe a spatially uniform hydrostatic stress field (of adjustable magnitude) ahead of the crack. Our results lend support to a suggestion that J and a measure of near-tip stress triaxiality can describe the full range of near-tip states.

Singular behaviour near the tip of a sharp V-notch in a power law hardening material

This paper presents an asymptotic analysis of the near-tip stress and strain fields of a sharp V-notch in a power law hardening material. First, the asymptotic solutions of the HRR type are obtained for the plane stress problem under symmetric loading. It is found that the angular distribution function of the radial stress sigma(r) presents rapid variation with the polar angle if the notch angle beta is smaller than a critical notch angle; otherwise, there is no such phenomena. Secondly, the asymptotic solutions are developed for antisymmetric loading in the cases of plane strain and plane stress. The accurate calculation results and the detailed comparisons are given as well. All results show that the singular exponent s is changeable for various combinations of loading condition and plane problem.

A unified law of motion of lithospheric plates and the driving mechanism

From observed data on lithospheric plates, a unified empirical law for plate motion,valid for continental as well as oceanic plates, is obtained in the following form: The speedof plate motion U depends linearly on a geometric parameter T_d, ratio of the sum of effectiveridge length and trench arc length to the sum of area of continental part of plate and total areaof cold sinking slab. Based on this unified law, a simple mechanical analysis shows that, themain driving forces for lithospheric plates come from push along the mid-ocean ridge andpull by the cold sinking slab, while the main drag forces consist of the viscous traction beneaththe continental part of plate and over both faces of the sinking slab. Moreover, the specific-push along ridge and pull by slab are found to be of equal magnitude.

The Impact of Regulation on Pricing Behavior in the Spanish Electricity Market

In this paper we measure the impact of regulatory measures which affected the Spanish electricity wholesale market in the period 2002-2005. Our approach is based on the fact that regulation changes firms' incentives and therefore their market behavior. In the absence of any regulation firms would choose profit- maximizing prices on their residual demands so that the observed gap between optimal and actual prices provides a measure of the effect of regulation. Our results indicate that regulation has decreased wholesale prices considerably, but became less effective at the end of the sample period which explains the change of regulatory regime introduced in 2006.

The Weekend-Dividend Effect in the Spanish Market

Revised: 2006-05

A Supply Function Competition Model for the Spanish Wholesale Electricity Market

We model the Spanish wholesale market as a multiplant linear supply function competition model. According to the theory, the larger generators should have supply curves for each plant which are to the left of the supply curves of plants owned by smaller generators. We test this prediction for fuel plants using data from the Spanish Market Operator (OMEL) from May 2001 to December 2003. Our results indicate that the prediction of the model holds.

Market Power in the Spanish Electricity Auction

Published as an article in: Journal of Regulatory Economics, 2010, vol. 37, issue 1, pages 42-69.

Strategic Behavior and Collusion: An Application to the Spanish Electricity Market

The paper has two major contributions to the theory of repeated games. First, we build a supergame oligopoly model where firms compete in supply functions, we show how collusion sustainability is affected by the presence of a convex cost function, the magnitude of both the slope of demand market, and the number of rivals. Then, we compare the results with those of the traditional Cournot reversion under the same structural characteristics. We find how depending on the number of firms and the slope of the linear demand, collusion sustainability is easier under supply function than under Cournot competition. The conclusions of the models are simulated with data from the Spanish wholesale electricity market to predict lower bounds of the discount factors.

The Black Box of Mutual Fund Fees

This paper re-examines the determinants of mutual fund fees paid by mutual fund shareholders for management costs and other expenses. There are two novelties with respect to previous studies. First, each type of fee is explained separately. Second, the paper employs a new dataset consisting of Spanish mutual funds, making it the second paper to study mutual fund fees outside the US market. Furthermore, the Spanish market has three interesting characteristics: (i) both distribution and management are highly dominated by banks and savings banks, which points towards potential conflicts of interest; (ii) Spanish mutual fund law imposes caps on all types of fees; and (iii) Spain ranks first in terms of average mutual fund fees among similar countries. We find significant differences in mutual fund fees not explained by the fund’s investment objective. For instance, management companies owned by banks and savings banks charge higher management fees and redemption fees to nonguaranteed funds. Also, investors in older non-guaranteed funds and non-guaranteed funds with a lower average investment are more likely to end up paying higher management fees. Moreover, there is clear evidence that some mutual funds enjoy better conditions from custodial institutions than others. In contrast to evidence from the US market, larger funds are not associated with lower fees, but with higher custody fees for guaranteed funds and higher redemption fees for both types of funds. Finally, fee-setting by mutual funds is not related to fund before-fee performance.

Asset pricing and systematic liquidity risk: an empirical investigation of the Spanish stock market

Systematic liquidity shocks should affect the optimal behavior of agents in financial markets. Indeed, fluctuations in various measures of liquidity are significantly correlated across common stocks. Accordingly, this paper empirically analyzes whether Spanish average returns vary cross-sectionally with betas estimated relative to two competing liquidity risk factors. The first one, proposed by Pastor and Stambaugh (2002), is associated with the strength of volume-related return reversals. Our marketwide liquidity factor is defined as the difference between returns highly sensitive to changes in the relative bid-ask spread and returns with low sensitivities to those changes. Our empirical results show that neither of these proxies for systematic liquidity risk seems to be priced in the Spanish stock market. Further international evidence is deserved.

Apuntes jurídicos sobre el paisaje lingüístico en Euskal Herria

This paper is a study of place-names and signs in the Basque Country from the point of view of language law. These are matters that relate to both the status and corpus of language and contribute to the formation of the language landscape,» After a brief historical introduction, the author focuses on the factors that bear on signs and the language 1andscape: the cornpetence factor and the language factor. The description of the latter leads the author to a discussion of the existing language system, in which the Spanish and Basque sharing official status does not necessarily entail the obligation to use both languages at the same time. Using this discussion as a frame of reference, the au- thor analyses place-names, traffic signals and signs. As for place-names, the existing rules are deemed rigid and lacking in ambition, in that they do not pursue the dissemination of official Basque forms. In traffic signaIs, Basque has to appear alongside Spanish, which is required by Spanish legislation, although this bilingualism excludes place-names that have an official Basque form only. With regard to signs, the author analyses public premises, companies licensed to provide public services and the private sector. For public premises there is no specific regulation, but the status of Basque as an autochthonous language, together with the identification and informatíon purposes of signs, could support the exclusive use of this language, According to the author , companies licensed to provide public services should observe the same language system as the goverment and therefore promote the use of Basque. Finally, in the private sector, the author upholds the legitimacy of measures to promote Basque language use such as tax allowances and exemptions in advertising and commercial signs.