Science.gov

Sample records for real options perspective

  1. Making real options really work.

    PubMed

    van Putten, Alexander B; MacMillan, Ian C

    2004-12-01

    As a way to value growth opportunities, real options have had a difficult time catching on with managers. Many CFOs believe the method ensures the overvaluation of risky projects. This concern is legitimate, but abandoning real options as a valuation model isn't the solution. Companies that rely solely on discounted cash flow (DCF) analysis underestimate the value of their projects and may fail to invest enough in uncertain but highly promising opportunities. CFOs need not--and should not--choose one approach over the other. Far from being a replacement for DCF analysis, real options are an essential complement, and a project's total value should encompass both. DCF captures a base estimate of value; real options take into account the potential for big gains. This is not to say that there aren't problems with real options. As currently applied, they focus almost exclusively on the risks associated with revenues, ignoring the risks associated with a project's costs. It's also true that option valuations almost always ignore assets that an initial investment in a subsequently abandoned project will often leave the company. In this article, the authors present a simple formula for combining DCF and option valuations that addresses these two problems. Using an integrated approach, managers will, in the long run, select better projects than their more timid competitors while keeping risk under control. Thus, they will outperform their rivals in both the product and the capital markets. PMID:15605572

  2. Electric retail market options: The customer perspective

    SciTech Connect

    Hadley, S.W.; Hillsman, E.L.

    1995-07-01

    This report describes various options that are now available for retail electric customers, or that may become available during the next few years as the electric utility industry restructures. These options include different ways of meeting demand for energy services, different providers of service or points of contact with providers, and different pricing structures for purchased services. Purpose of this document is to examine these options from the customer`s perspective: how might being a retail electric customer in 5--10 years differ from now? Seizing opportunities to reduce cost of electric service is likely to entail working with different service providers; thus, transaction costs are involved. Some of the options considered are speculative. Some transitional options include relocation, customer-built/operated transmission lines, municipalization, self-generation, and long-term contracts with suppliers. All these may change or diminish in a restructured industry. Brokers seem likely to become more common unless restructuring takes the form of mandatory poolcos (wholesale). Some options appear robust, ie, they are likely to become more common regardless of how restructuring is accomplished: increased competition among energy carriers (gas vs electric), real-time pricing, etc. This report identified some of the qualitative differences among the various options. For customers using large amounts of electricity, different alternatives are likely to affect greatly service price, transaction costs, tailoring service to customer preferences, and risks for customer. For retail customers using small amounts of electricity, there may be little difference among the options except service price.

  3. Real options reasoning in healthcare: an integrative approach and synopsis.

    PubMed

    Williams, David R; Hammes, Paul H

    2007-01-01

    For the past 40 years, practitioners and researchers alike have been grappling with the natural shortcomings associated with the net present value approach to strategic decision making and capital budgeting. Work by scholars in option pricing theory has evolved into an alternative perspective on strategic capital investments, called "real options." Proponents of real options argue that this is a superior way of approaching decision making and capital budgeting, compared with other approaches, as it allows for greater strategic flexibility and encourages exploration, experimentation, and innovation. Within the healthcare literature, articles on real options have focused on pricing these options. This article is unique to the healthcare literature as it emphasizes the cognitive or strategic aspects of real options. Additionally, this article integrates two techniques for applying the real options approach for interested practitioners using a hospital's imaging department as an example, while providing scholars with additional applications and questions for future research. For practitioners, the implications are that thinking of and planning for capital investments as real options may create greater strategic and operating flexibility than other, more traditional approaches. PMID:17552354

  4. A real-world way to manage real options.

    PubMed

    Copeland, Tom; Tufano, Peter

    2004-03-01

    Each corporate growth project is an option, in the sense that managers face choices--push ahead or pull back--along the way. Yet many companies hesitate to apply options theory to initiatives such as R&D and geographic expansion, partly because these "real" options are highly complex. In this article, the authors make the case that the complexity of real options can be eased through the use of a binomial valuation model. Many of the problems with real-options analysis stem from the use of the Black-Scholes-Merton model, which isn't suited to real options. Binomial models, by contrast, are simpler mathematically, and you can tinker with a binomial model until it closely reflects the project you wish to value. Suppose your company is considering investing in a new plant. To use the binomial model, you must create an "event tree" to figure out the full range of possible values for the plant during the project's lifetime--next year, at the end of the design phase, upon completion. Then you work backward from the value at completion, factoring in the various investments, to determine the value of the project today. These calculations provide you with numbers for all the possible future values of the option at the various points where a decision needs to be made on whether to continue with the project. The authors also address another criticism of real options: that gaps often arise between theoretical and realized values of options of all types. Such gaps may be largely the result of managers exercising options at the wrong time. To improve the way it manages its real options, a company can look out for the decision trigger points that correspond to the nodes on a binomial decision tree. The trigger points should not only tell managers when they need to decide on exercise but also specify rules governing the exercise decisions. PMID:15029793

  5. A Real-Options Approach for NASA Strategic Technology Selection

    NASA Technical Reports Server (NTRS)

    Shishko, R.; Ebbeler, D.

    1999-01-01

    In this paper, we examine the use of real options valuation in the context of prioritizing advanced technologies for NASA funding. Further, we offer a set of computational procedures that quantifies the option value of each technology.

  6. Water Resources Planning under Uncertainty: A "Real Options" Approach

    NASA Astrophysics Data System (ADS)

    Jeuland, M. A.; Whittington, D.

    2011-12-01

    This research develops a real options approach for planning new water resources developments, in infrastructure construction and system operation, under uncertainty. The approach treats the planning problem as a series of staged decisions - the selection of new projects; their scale, timing and sequencing; and finally their operating rules - each of which is characterized by varying levels of irreversibility. The performance of different configurations of the system is then assessed along the various dimensions of the decision space, using simulation methods. The methodology is then made operational using an existing hydrological simulation model that can be used to study the example of hydropower development options in the Blue Nile in Ethiopia. The model includes physical linkages between climate change and system hydrology, and allows users to test the sensitivity of the basin-wide economic consequences of dams, which consist of energy generation, changes in irrigation crop-water demand, the value of flood control, and other basin-wide impacts, to climate change or changes in runoff, as well as to other uncertainties. The analysis shows that, from an economic perspective, there is no single optimal system configuration across a range of future climate conditions deemed plausible for this basin. For example, small infrastructures perform best in scenarios with reduced runoff into the river, whereas large ones are best when runoff increases. The real options framework therefore becomes useful for helping to identify configurations that are both more robust to poor outcomes and still contain sufficient flexibility to capture high upside benefits should favorable future conditions arise. The framework could readily be extended to explore a range of features that could be usefully built into water resources projects more generally, to improve the long-term economic performance of such investments.

  7. Flexibility and Project Value: Interactions and Multiple Real Options

    NASA Astrophysics Data System (ADS)

    Čulík, Miroslav

    2010-06-01

    This paper is focused on a project valuation with embedded portfolio of real options including their interactions. Valuation is based on the criterion of Net Present Value on the simulation basis. Portfolio includes selected types of European-type real options: option to expand, contract, abandon and temporarily shut down and restart a project. Due to the fact, that in reality most of the managerial flexibility takes the form of portfolio of real options, selected types of options are valued not only individually, but also in combination. The paper is structured as follows: first, diffusion models for forecasting of output prices and variable costs are derived. Second, project value is estimated on the assumption, that no real options are present. Next, project value is calculated with the presence of selected European-type options; these options and their impact on project value are valued first in isolation and consequently in different combinations. Moreover, intrinsic value evolution of given real options with respect to the time of exercising is analysed. In the end, results are presented graphically; selected statistics and risk measures (Value at Risk, Expected Shortfall) of the NPV's distributions are calculated and commented.

  8. The Implications of Real Options on ERP-Enabled Adoption

    ERIC Educational Resources Information Center

    Nwankpa, Joseph K.

    2012-01-01

    Current research on Enterprise Resource Planning (ERP) systems and real options focuses on valuation and justification issues that manager's face prior to project approval with existing literature attempting to demonstrate that ERP systems as technology positioning investments have option-like characteristics thus making such ERP systems…

  9. Real option logic for healthcare entrepreneurial growth and survival.

    PubMed

    Williams, David R; Hammes, Paul H

    2007-05-01

    Given the increasing market and technological uncertainty of capital investments, healthcare financial executives need to incorporate flexibility into their decision making. Traditional capital budgeting techniques do not take into consideration the need for flexibility, changes in the environment, or actions by management. In response, practitioners from various industries have adopted a new way of looking at capital investments: real options. PMID:17514912

  10. Using real options analysis to support strategic management decisions

    NASA Astrophysics Data System (ADS)

    Kabaivanov, Stanimir; Markovska, Veneta; Milev, Mariyan

    2013-12-01

    Decision making is a complex process that requires taking into consideration multiple heterogeneous sources of uncertainty. Standard valuation and financial analysis techniques often fail to properly account for all these sources of risk as well as for all sources of additional flexibility. In this paper we explore applications of a modified binomial tree method for real options analysis (ROA) in an effort to improve decision making process. Usual cases of use of real options are analyzed with elaborate study on the applications and advantages that company management can derive from their application. A numeric results based on extending simple binomial tree approach for multiple sources of uncertainty are provided to demonstrate the improvement effects on management decisions.

  11. Applying Real Options for Evaluating Investments in ERP Systems

    NASA Astrophysics Data System (ADS)

    Nakagane, Jun; Sekozawa, Teruji

    This paper intends to verify effectiveness of real options approach for evaluating investments in Enterprise Resource Planning systems (ERP) and proves how important it is to disclose shadow options potentially embedded in ERP investment. The net present value (NPV) method is principally adopted to evaluate the value of ERP. However, the NPV method assumes no uncertainties exist in the object. It doesn't satisfy the current business circumstances which are filled with dynamic issues. Since the 1990s the effectiveness of option pricing models for Information System (IS) investment to solve issues in the NPV method has been discussed in the IS literature. This paper presents 3 business cases to review the practical advantages of such techniques for IS investments, especially ERP investments. The first case is EDI development. We evaluate the project by a new approach with lighting one of shadow options, EDI implementation. In the second case we reveal an ERP investment has an “expanding option” in a case of eliminating redundancy. The third case describes an option to contract which is deliberately slotted in ERP development to prepare transferring a manufacturing facility.

  12. Real Option Cost Vulnerability Analysis of Electrical Infrastructure

    NASA Astrophysics Data System (ADS)

    Prime, Thomas; Knight, Phil

    2015-04-01

    Critical infrastructure such as electricity substations are vulnerable to various geo-hazards that arise from climate change. These geo-hazards range from increased vegetation growth to increased temperatures and flood inundation. Of all the identified geo-hazards, coastal flooding has the greatest impact, but to date has had a low probability of occurring. However, in the face of climate change, coastal flooding is likely to occur more often due to extreme water levels being experienced more frequently due to sea-level rise (SLR). Knowing what impact coastal flooding will have now and in the future on critical infrastructure such as electrical substations is important for long-term management. Using a flood inundation model, present day and future flood events have been simulated, from 1 in 1 year events up to 1 in 10,000 year events. The modelling makes an integrated assessment of impact by using sea-level and surge to simulate a storm tide. The geographical area the model covers is part of the Northwest UK coastline with a range of urban and rural areas. The ensemble of flood maps generated allows the identification of critical infrastructure exposed to coastal flooding. Vulnerability has be assessed using an Estimated Annual Damage (EAD) value. Sampling SLR annual probability distributions produces a projected "pathway" for SLR up to 2100. EAD is then calculated using a relationship derived from the flood model. Repeating the sampling process allows a distribution of EAD up to 2100 to be produced. These values are discounted to present day values using an appropriate discount rate. If the cost of building and maintain defences is also removed from this a Net Present Value (NPV) of building the defences can be calculated. This distribution of NPV can be used as part of a cost modelling process involving Real Options, A real option is the right but not obligation to undertake investment decisions. In terms of investment in critical infrastructure resilience this

  13. Evaluation of Foreign Investment in Power Plants using Real Options

    NASA Astrophysics Data System (ADS)

    Kato, Moritoshi; Zhou, Yicheng

    This paper proposes new methods for evaluating foreign investment in power plants under market uncertainty using a real options approach. We suppose a thermal power plant project in a deregulated electricity market. One of our proposed methods is that we calculate the cash flow generated by the project in a reference year using actual market data to incorporate periodic characteristics of energy prices into a yearly cash flow model. We make the stochastic yearly cash flow model with the initial value which is the cash flow in the reference year, and certain trend and volatility. Then we calculate the real options value (ROV) of the project which has abandonment options using the yearly cash flow model. Another our proposed method is that we evaluate foreign currency/domestic currency exchange rate risk by representing ROV in foreign currency as yearly pay off and exchanging it to ROV in domestic currency using a stochastic exchange rate model. We analyze the effect of the heat rate and operation and maintenance costs of the power plant on ROV, and evaluate exchange rate risk through numerical examples. Our proposed method will be useful for the risk management of foreign investment in power plants.

  14. Real options and asset valuation in competitive energy markets

    NASA Astrophysics Data System (ADS)

    Oduntan, Adekunle Richard

    The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation

  15. Real options and asset valuation in competitive energy markets

    NASA Astrophysics Data System (ADS)

    Oduntan, Adekunle Richard

    The focus of this work is to develop a robust valuation framework for physical power assets operating in competitive markets such as peaking or mid-merit thermal power plants and baseload power plants. The goal is to develop a modeling framework that can be adapted to different energy assets with different types of operating flexibilities and technical constraints and which can be employed for various purposes such as capital budgeting, business planning, risk management and strategic bidding planning among others. The valuation framework must also be able to capture the reality of power market rules and opportunities, as well as technical constraints of different assets. The modeling framework developed conceptualizes operating flexibilities of power assets as "switching options' whereby the asset operator decides at every decision point whether to switch from one operating mode to another mutually exclusive mode, within the limits of the equipment constraints of the asset. As a current decision to switch operating modes may affect future operating flexibilities of the asset and hence cash flows, a dynamic optimization framework is employed. The developed framework accounts for the uncertain nature of key value drivers by representing them with appropriate stochastic processes. Specifically, the framework developed conceptualizes the operation of a power asset as a multi-stage decision making problem where the operator has to make a decision at every stage to alter operating mode given currently available information about key value drivers. The problem is then solved dynamically by decomposing it into a series of two-stage sub-problems according to Bellman's optimality principle. The solution algorithm employed is the Least Squares Monte Carlo (LSM) method. The developed valuation framework was adapted for a gas-fired thermal power plant, a peaking hydroelectric power plant and a baseload power plant. This work built on previously published real options valuation

  16. Corporate Social Responsibility: A Real Options Approach to the Challenge of Financial Sustainability

    PubMed Central

    2015-01-01

    Background In contemporary complex societies, social values like ethics, corporate social responsibility, and being respectful with the environment, among others, are becoming social requirements. Corporations are expected to fulfill them and, according to empirical evidence, an overwhelming majority aspires to good social valuation. At the same time, the maximization of market share value in the long run continues to be the central corporate goal. Making environmental and social expenses compatible with value creation is a central challenge for corporations since it implies the financial sustainability of Corporate Social Responsibility (CSR). Methods and Results The value creation capacity of CSR projects, mainly through innovation, is widely acknowledged in economic literature and corporate practice. This fact arouses the need of having a quantitative framework capable of summarizing the value creation capacity of the variables involved in CSR projects. With this aim we build up a sensitivity analysis of real option ratios that studies and quantifies the value creation capacity of CSR projects connected with innovation. Ratio analysis has the advantage of being scale independent. Hence, it furnishes a homogeneous framework to express the interaction of value creation variables and, thus, supports strategic thinking quantitatively. Often, CSR expenses can be regarded as preliminary projects that create the opportunity to undertake a full future project. For them, we obtain the minimum expectations scenario that makes financially sustainable a preliminary project that can be interpreted as a call option. We propose a classification of CSR projects from the decision analysis perspective following a two-fold approach: Their relationship with value creation and their links with existing corporate activities. This classification of CSR projects aims at contributing to choose the best capital budgeting method to study the financial sustainability of the project and

  17. Real options valuation and optimization of energy assets

    NASA Astrophysics Data System (ADS)

    Thompson, Matthew

    In this thesis we present algorithms for the valuation and optimal operation of natural gas storage facilities, hydro-electric power plants and thermal power generators in competitive markets. Real options theory is used to derive nonlinear partial-integro-differential equations (PIDEs) for the valuation and optimal operating strategies of all types of facilities. The equations are designed to incorporate a wide class of spot price models that can exhibit the same time-dependent, mean-reverting dynamics and price spikes as those observed in most energy markets. Particular attention is paid to the operational characteristics of real energy assets. For natural gas storage facilities these characteristics include: working gas capacities, variable deliverability and injection rates and cycling limitations. For thermal power plants relevant operational characteristics include variable start-up times and costs, control response time lags, minimum generating levels, nonlinear output functions, structural limitations on ramp rates, and minimum up/down time restrictions. For hydro-electric units, head effects and environmental constraints are addressed. We illustrate the models with numerical examples of a gas storage facility, a hydro-electric pump storage facility and a thermal power plant. This PIDE framework is the first in the literature to achieve second order accuracy in characterizing the operating states of hydro-electric and hydro-thermal power plants. The continuous state space representation derived in this thesis can therefore achieve far greater realism in terms of operating state specification than any other method in the literature to date. This thesis is also the first and only to allow for any continuous time jump diffusion processes in order to account for price spikes.

  18. Energy options: real economics and the solar-hydrogen system

    SciTech Connect

    Bockris, J.O'M.

    1980-01-01

    All price comparisons being made at present, upon which energy decisions only effective decades later are being made, are irelevant, the author feels. The relevant economics is that of the time beyond the year 2000, when the fossil fuels will be playing a diminishing role in the energy mix, at energy prices greatly above those of the present time. This book attempts to put numbers in the various years concerned, and to discuss now the financing. It shows that the coal-nuclear policy, which is the basis of the present energy thrust in research and in financing, is incompatible with environmental and health considerations. However, Prof. Bockris notes that the alternatives are not those of having nuclear energy or having gross unemployment, but rather those of having nuclear energy or solar energy on a massive scale by means of collection in desert areas. Solar energy is not primarily a source for rooftops and water heating, but one which could supply factories, industries, commerce and transportation. The key to the difference in viewpoint is the introduction of hydrogen as a transmission, storage, and distribution medium, the hydrogen coming from the electrolysis of water, and the electricity for this coming from the solar source. The title of the book arises because of the newly introduced subjects of the Second Law economics and the real economics which takes into account the Second Law cost, but also the differing cost of health with each alternative-energy system. It is only if one takes into account economics from the point of view of the consumer of the energy that the relevant order of preference of the various energy options can be ascertained. 526 references, 148 figures, 94 tables.

  19. A real options approach to clinical faculty salary structure.

    PubMed

    Kahn, Marc J; Long, Hugh W

    2012-01-01

    One can use the option theory model originally developed to price financial opportunities in security markets to analyze many other economic arrangements such as the salary structures of clinical faculty in an academic medical center practice plan. If one views the underlying asset to be the portion (labeled "salary") of the economic value of the collections made for the care provided patients by the physician, then a salary guarantee can be considered a put option provided the physician, the guarantee having value to the physician only when the actual salary earned is less than the salary guarantee. Similarly, within an incentive plan, a salary cap can be thought of as a call option provided to the practice plan since a salary cap only has value to the practice plan when a physician's earnings exceed the cap. Further, based on analysis of prior earnings, the Black-Scholes options pricing model can be used both to price each option and to determine a financially neutral balance between a salary guarantee and a salary cap by equating the prices of the implied put and call options. We suggest that such analysis is superior to empirical methods for setting clinical faculty salary structure in the academic practice plan setting. PMID:23155746

  20. Real options analysis for land use management: Methods, application, and implications for policy.

    PubMed

    Regan, Courtney M; Bryan, Brett A; Connor, Jeffery D; Meyer, Wayne S; Ostendorf, Bertram; Zhu, Zili; Bao, Chenming

    2015-09-15

    Discounted cash flow analysis, including net present value is an established way to value land use and management investments which accounts for the time-value of money. However, it provides a static view and assumes passive commitment to an investment strategy when real world land use and management investment decisions are characterised by uncertainty, irreversibility, change, and adaptation. Real options analysis has been proposed as a better valuation method under uncertainty and where the opportunity exists to delay investment decisions, pending more information. We briefly review the use of discounted cash flow methods in land use and management and discuss their benefits and limitations. We then provide an overview of real options analysis, describe the main analytical methods, and summarize its application to land use investment decisions. Real options analysis is largely underutilized in evaluating land use decisions, despite uncertainty in policy and economic drivers, the irreversibility and sunk costs involved. New simulation methods offer the potential for overcoming current technical challenges to implementation as demonstrated with a real options simulation model used to evaluate an agricultural land use decision in South Australia. We conclude that considering option values in future policy design will provide a more realistic assessment of landholder investment decision making and provide insights for improved policy performance. PMID:26164637

  1. Incorporating Asymmetric Dependency Patterns in the Evaluation of IS/IT projects Using Real Option Analysis

    ERIC Educational Resources Information Center

    Burke, John C.

    2012-01-01

    The objective of my dissertation is to create a general approach to evaluating IS/IT projects using Real Option Analysis (ROA). This is an important problem because an IT Project Portfolio (ITPP) can represent hundreds of projects, millions of dollars of investment and hundreds of thousands of employee hours. Therefore, any advance in the…

  2. Emerging therapeutic options for myelofibrosis: a Canadian perspective

    PubMed Central

    Gupta, Vikas; Foltz, Lynda; Sirhan, Shireen; Busque, Lambert; Turner, A Robert

    2012-01-01

    Myelofibrosis (MF) is a clonal stem cell disorder characterized by cytopenias, splenomegaly, marrow fibrosis, and systemic symptoms due to elevated inflammatory cytokines. MF is associated with decreased survival. The quality of life of patients with MF is similar to other advanced malignancies. Allogeneic hematopoietic cell transplantation is a curative treatment, but is applicable to a minority of patients with MF. None of the conventional therapies are known to alter the natural history of the disease. Significant progress has been made in the last few years in the understanding of disease biology of MF. Discovery of the JAK2V617F mutation paved the way for drug discovery in MF, and the first JAK1/2 inhibitor, ruxolitinib, has been approved by FDA and Health Canada. Several other JAK1/2 inhibitors are at various stages of clinical development. As a consequence, the therapeutic landscape of MF is changing from a disease where no effective therapies existed to one with several novel treatment options on the horizon. In this report, we assess the changing therapeutic options for MF, and critically analyze the position of novel treatments in the current armamentarium. PMID:23119228

  3. Evaluation of Oil Sands Projects and Their Expansion Rate Using Real Options

    NASA Astrophysics Data System (ADS)

    Kobari, Laleh

    The rapidly expanding oil sands of western Canada, the third largest reserves in the world, are creating serious challenges, such as ecological harm, labour shortages, and extensive natural gas consumption. This thesis develops three practical real options models to evaluate the feasibility of oil sands projects and to estimate the optimal rate of oil sands expansion, while accounting for the stated concerns. (Abstract shortened by UMI.).

  4. Combination of real options and game-theoretic approach in investment analysis

    NASA Astrophysics Data System (ADS)

    Arasteh, Abdollah

    2016-02-01

    Investments in technology create a large amount of capital investments by major companies. Assessing such investment projects is identified as critical to the efficient assignment of resources. Viewing investment projects as real options, this paper expands a method for assessing technology investment decisions in the linkage existence of uncertainty and competition. It combines the game-theoretic models of strategic market interactions with a real options approach. Several key characteristics underlie the model. First, our study shows how investment strategies rely on competitive interactions. Under the force of competition, firms hurry to exercise their options early. The resulting "hurry equilibrium" destroys the option value of waiting and involves violent investment behavior. Second, we get best investment policies and critical investment entrances. This suggests that integrating will be unavoidable in some information product markets. The model creates some new intuitions into the forces that shape market behavior as noticed in the information technology industry. It can be used to specify best investment policies for technology innovations and adoptions, multistage R&D, and investment projects in information technology.

  5. RealGasBrine v1.0 option of TOUGH+ v1.5

    SciTech Connect

    Moridis, George

    2015-02-27

    RealGasBrine v1.0 is a numerical code that for the simulation of the behavior of gas-bearing porous and/fractured geologic media. It is an option of TOUGH+ v1.5 [Moridis, 2014], a successor to the TOUGH2 [Pruess et al., 1999; 2012] family of codes for multi-component, multiphase ?uid and heat ?ow developed at the Lawrence Berkeley National Laboratory. RealGasBrine v1.0 needs the TOUGH+ v1.5 core code in order to compile and execute. It is written in standard FORTRAN 95/2003, and can be run on any computational platform (workstation, PC, Macintosh) for which such compilers are available. RealGasBrine v1.0 describes the non-isothermal two- (for pure water) or three-phase (for brine) flow of an aqueous phase and a real gas mixture in a gas-bearing medium, with a particular focus in ultra-tight (such as tight-sand and shale gas) systems. Up to 12 individual real gases can be tracked, and salt can precipitate as solid halite. The capabilities of the code include coupled flow and thermal effects, real gas behavior, Darcy and non-Darcy flow, several isotherm options of gas sorption onto the grains of the porous media, complex fracture descriptions, gas solubility into water, and geomechanical effects on flow properties. RealGasBrine v1.0 allows the study of flow and transport of fluids and heat over a wide range of time frames and spatial scales not only in gas reservoirs, but also in any problem involving the flow of gases in geologic media, including the geologic storage of greenhouse gas mixtures, the behavior of geothermal reservoirs with multi-component condensable (H2O and CO2) and non-condensable gas mixtures, the transport of water and released H2 in nuclear waste storage applications, etc.

  6. Nuclear Terrorism - Dimensions, Options, and Perspectives in Moldova

    NASA Astrophysics Data System (ADS)

    Vaseashta, Ashok; Susmann, P.; Braman, Eric W.; Enaki, Nicolae A.

    Securing nuclear materials, controlling contraband and preventing proliferation is an international priority to resolve using technology, diplomacy, strategic alliances, and if necessary, targeted military exercises. Nuclear security consists of complementary programs involving international legal and regulatory structure, intelligence and law enforcement agencies, border and customs forces, point and stand-off radiation detectors, personal protection equipment, preparedness for emergency and disaster, and consequence management teams. The strategic goal of UNSCR 1540 and the GICNT is to prevent nuclear materials from finding their way into the hands of our adversaries. This multi-jurisdictional and multi-agency effort demands tremendous coordination, technology assessment, policy development and guidance from several sectors. The overall goal envisions creating a secured environment that controls and protects nuclear materials while maintaining the free flow of commerce and individual liberty on international basis. Integral to such efforts are technologies to sense/detect nuclear material, provide advance information of nuclear smuggling routes, and other advanced means to control nuclear contraband and prevent proliferation. We provide an overview of GICNT and several initiatives supporting such efforts. An overview is provided of technological advances in support of point and stand-off detection and receiving advance information of nuclear material movement from perspectives of the Republic of Moldova.

  7. Progressive multifocal leukoencephalopathy: current treatment options and future perspectives

    PubMed Central

    Pavlovic, Dejan; Patera, Andriani C.; Nyberg, Fredrik; Gerber, Marianne; Liu, Maggie

    2015-01-01

    Progressive multifocal leukoencephalopathy (PML) is a rare but debilitating and frequently fatal viral disease of the central nervous system, primarily affecting individuals with chronically and severely suppressed immune systems. The disease was relatively obscure until the outbreak of HIV/AIDS, when it presented as one of the more frequent opportunistic infections in this immune deficiency syndrome. It attracted additional attention from the medical and scientific community following the discovery of significant PML risk associated with natalizumab, a monoclonal antibody used for treatment of relapsing–remitting multiple sclerosis. This was followed by association of PML with other immunosuppressive or immunomodulating drugs. PML is currently untreatable disease with poor outcomes, so it is a significant concern when developing new immunotherapies. Current prophylaxis and treatment of PML are focused on immune reconstitution, restoration of immune responses to JC virus infection, and eventual suppression of immune reconstitution inflammatory syndrome. This approach was successful in reducing the incidence of PML and improved survival of PML patients with HIV infection. However, the outcome for the majority of PML patients, regardless of their medical history, is still relatively poor. There is a high unmet need for both prophylaxis and treatment of PML. The aim of this review is to discuss potential drug candidates for prophylaxis and treatment of PML with a critical review of previously conducted and completed PML treatment studies as well as to provide perspectives for future therapies. PMID:26600871

  8. Progressive multifocal leukoencephalopathy: current treatment options and future perspectives.

    PubMed

    Pavlovic, Dejan; Patera, Andriani C; Nyberg, Fredrik; Gerber, Marianne; Liu, Maggie

    2015-11-01

    Progressive multifocal leukoencephalopathy (PML) is a rare but debilitating and frequently fatal viral disease of the central nervous system, primarily affecting individuals with chronically and severely suppressed immune systems. The disease was relatively obscure until the outbreak of HIV/AIDS, when it presented as one of the more frequent opportunistic infections in this immune deficiency syndrome. It attracted additional attention from the medical and scientific community following the discovery of significant PML risk associated with natalizumab, a monoclonal antibody used for treatment of relapsing-remitting multiple sclerosis. This was followed by association of PML with other immunosuppressive or immunomodulating drugs. PML is currently untreatable disease with poor outcomes, so it is a significant concern when developing new immunotherapies. Current prophylaxis and treatment of PML are focused on immune reconstitution, restoration of immune responses to JC virus infection, and eventual suppression of immune reconstitution inflammatory syndrome. This approach was successful in reducing the incidence of PML and improved survival of PML patients with HIV infection. However, the outcome for the majority of PML patients, regardless of their medical history, is still relatively poor. There is a high unmet need for both prophylaxis and treatment of PML. The aim of this review is to discuss potential drug candidates for prophylaxis and treatment of PML with a critical review of previously conducted and completed PML treatment studies as well as to provide perspectives for future therapies. PMID:26600871

  9. A real options approach to biotechnology investment policy-the case of developing a Campylobacter vaccine to poultry.

    PubMed

    Lund, Mogens; Jensen, Jørgen Dejgård

    2016-06-01

    The aim of the article is to identify and analyse public-private incentives for the development and marketing of new animal vaccines within a real options methodological framework, and to investigate how real options methodology can be utilized to support economic incentives for vaccine development in a cost-effective way. The development of a vaccine against Campylobacter jejuni in poultry is applied as a case study. Employing the real options methodology, the net present value of the vaccine R&D project becomes larger than a purely probabilistic expected present value throughout the different stages of the project - and the net present value becomes larger, when more types of real options are taken into consideration. The insight from the real options analysis reveals opportunities for new policies to promote the development of animal vaccines. One such approach might be to develop schemes combining stage-by-stage optimized subsidies in the individual development stages, with proper account taken of investors'/developers' economic incentives to proceed, sell or cancel the project in the respective stages. Another way of using the real options approach to support the development of desirable animal vaccines could be to issue put options for the vaccine candidate, enabling vaccine developers to hedge against the economic risk from market volatility. PMID:27237391

  10. Future perspectives on space exploration and options for Europe

    NASA Astrophysics Data System (ADS)

    Peter, N.

    2009-04-01

    decades to come (demography, economy, environment, energy etc.) and the development of future potential partners to derive the best options for leading and anticipate rather than following and enduring change.

  11. RealGasBrine v1.0 option of TOUGH+ v1.5

    Energy Science and Technology Software Center (ESTSC)

    2015-02-27

    RealGasBrine v1.0 is a numerical code that for the simulation of the behavior of gas-bearing porous and/fractured geologic media. It is an option of TOUGH+ v1.5 [Moridis, 2014], a successor to the TOUGH2 [Pruess et al., 1999; 2012] family of codes for multi-component, multiphase ?uid and heat ?ow developed at the Lawrence Berkeley National Laboratory. RealGasBrine v1.0 needs the TOUGH+ v1.5 core code in order to compile and execute. It is written in standard FORTRANmore » 95/2003, and can be run on any computational platform (workstation, PC, Macintosh) for which such compilers are available. RealGasBrine v1.0 describes the non-isothermal two- (for pure water) or three-phase (for brine) flow of an aqueous phase and a real gas mixture in a gas-bearing medium, with a particular focus in ultra-tight (such as tight-sand and shale gas) systems. Up to 12 individual real gases can be tracked, and salt can precipitate as solid halite. The capabilities of the code include coupled flow and thermal effects, real gas behavior, Darcy and non-Darcy flow, several isotherm options of gas sorption onto the grains of the porous media, complex fracture descriptions, gas solubility into water, and geomechanical effects on flow properties. RealGasBrine v1.0 allows the study of flow and transport of fluids and heat over a wide range of time frames and spatial scales not only in gas reservoirs, but also in any problem involving the flow of gases in geologic media, including the geologic storage of greenhouse gas mixtures, the behavior of geothermal reservoirs with multi-component condensable (H2O and CO2) and non-condensable gas mixtures, the transport of water and released H2 in nuclear waste storage applications, etc.« less

  12. A quadranomial real options model for evaluation of emissions trading and technology

    NASA Astrophysics Data System (ADS)

    Sarkis, Joseph; Tamarkin, Maurry

    2005-11-01

    Green house gas (GHG) emissions have been tied to global climate change. One popular policy instrument that seems to have gained credibility with explicit mention of its application in the Kyoto Protocol is the use of permit trading and cap-and-trade mechanisms. Organizations functioning within this environment will need to manage their resources appropriately to remain competitive. Organizations will either have the opportunity to purchase emissions credits (offsets) from a market trading scheme or seek to reduce their emissions through different measures. Some measures may include investment in new technologies that will reduce their reliance on GHG emitting practices. In many countries, large organizations and institutions generate their own power to operate their facilities. Much of this power is generated (or bought) from GHG producing technology. Specific renewable energy sources such as wind and solar photovoltaic technology may become more feasible alternatives available to a large percentage of these organizations if they are able to take advantage and incorporate the market for GHG emissions trading in their analyses. To help organizations evaluate investment in these renewable energy technologies we introduce a real options based model that will take into consideration uncertainties associated with the technology and those associated with the GHG trading market. The real options analysis will consider both the stochastic (uncertainty) nature of the exercise price of the technology and the stochastic nature of the market trading price of the GHG emissions.

  13. Placing the power of real options analysis into the hands of natural resource managers - taking the next step.

    PubMed

    Nelson, Rohan; Howden, Mark; Hayman, Peter

    2013-07-30

    This paper explores heuristic methods with potential to place the analytical power of real options analysis into the hands of natural resource managers. The complexity of real options analysis has led to patchy or ephemeral adoption even by corporate managers familiar with the financial-market origins of valuation methods. Intuitively accessible methods for estimating the value of real options have begun to evolve, but their evaluation has mostly been limited to researcher-driven applications. In this paper we work closely with Bush Heritage Australia to evaluate the potential of real options analysis to support the intuitive judgement of conservation estate managers in covenanting land with uncertain future conservation value due to climate change. The results show that modified decision trees have potential to estimate the option value of covenanting individual properties while time and ongoing research resolves their future conservation value. Complementing this, Luehrman's option space has potential to assist managers with limited budgets to increase the portfolio value of multiple properties with different conservation attributes. PMID:23702285

  14. Using real options to evaluate the flexibility in the deployment of SMR

    SciTech Connect

    Locatelli, G.; Mancini, M.

    2012-07-01

    According to recent estimations the financial gap between Large Reactors (LR) and Small Medium Reactors (SMRs) seems not as huge as the economy of scale would suggest, so the SMRs are going to be important players of the worldwide nuclear renaissance. POLIMIs INCAS model has been developed to compare the investment in SMR with respect to LR. It provides the value of IRR (Internal Rate of Return), NPV (Net Present Value), LUEC (Levelized Unitary Electricity Cost), up-front investment, etc. The aim of this research is to integrate the actual INCAS model, based on discounted cash flows, with the real option theory to measure flexibility of the investor to expand, defer or abandon a nuclear project, under future uncertainties. The work compares the investment in a large nuclear power plant with a series of smaller, modular nuclear power plants on the same site. As a consequence it compares the benefits of the large power plant, coming from the economy of scale, to the benefit of the modular project (flexibility) concluding that managerial flexibility can be measured and used by an investor to face the investment risks. (authors)

  15. Toward a new modeling of international economics: An attempt to reformulate an international trade model based on real option theory

    NASA Astrophysics Data System (ADS)

    Fujita, Yasunori

    2007-09-01

    Reformulation of economics by physics has been carried out intensively to reveal many features of the asset market, which were missed in the classical economic theories. The present paper attempts to shed new light on this field. That is, this paper aims at reformulating the international trade model by making use of the real option theory. Based on such a stochastic dynamic model, we examine how the fluctuation of the foreign exchange rate makes effect on the welfare of the exporting country.

  16. Supply chain management and economic valuation of real options in the natural gas and liquefied natural gas industry

    NASA Astrophysics Data System (ADS)

    Wang, Mulan Xiaofeng

    My dissertation concentrates on several aspects of supply chain management and economic valuation of real options in the natural gas and liquefied natural gas (LNG) industry, including gas pipeline transportations, ocean LNG shipping logistics, and downstream storage. Chapter 1 briefly introduces the natural gas and LNG industries, and the topics studied in this thesis. Chapter 2 studies how to value U.S. natural gas pipeline network transport contracts as real options. It is common for natural gas shippers to value and manage contracts by simple adaptations of financial spread option formulas that do not fully account for the implications of the capacity limits and the network structure that distinguish these contracts. In contrast, we show that these operational features can be fully captured and integrated with financial considerations in a fairly easy and managerially significant manner by a model that combines linear programming and simulation. We derive pathwise estimators for the so called deltas and structurally characterize them. We interpret them in a novel fashion as discounted expectations, under a specific weighing distribution, of the amounts of natural gas to be procured/marketed when optimally using pipeline capacity. Based on the actual prices of traded natural gas futures and basis swaps, we show that an enhanced version of the common approach employed in practice can significantly underestimate the true value of natural gas pipeline network capacity. Our model also exhibits promising financial (delta) hedging performance. Thus, this model emerges as an easy to use and useful tool that natural gas shippers can employ to support their valuation and delta hedging decisions concerning natural gas pipeline network transport capacity contracts. Moreover, the insights that follow from our data analysis have broader significance and implications in terms of the management of real options beyond our specific application. Motivated by current developments

  17. Preeclampsia – Aetiology, Current Diagnostics and Clinical Management, New Therapy Options and Future Perspectives

    PubMed Central

    Tallarek, A.-C.; Huppertz, B.; Stepan, H.

    2012-01-01

    Preeclampsia is a multisystem disease for which the exact causes have not yet been sufficiently clarified. However, in the past few years it has become clear that a placental imbalance between angiogenic and anti-angiogenic proteins is the decisive pathogenetic factor for the occurrence of preeclampsia. With the possibility to measure these angiogenic factors (sFlt-1/PlGF ratio) in maternal blood full new diagnostic possibilities have been opened that enable the certain diagnosis or exclusion of the diseases as well as a short-term prognosis to be made. In secondary prevention the current data situation for ASA confirms a moderate but measurable utility. The management concept depends on gestational age. In the case of early clinical manifestations (< 34th week of pregnancy) the clinical management in a perinatal centre remains unchanged with foeto-maternal monitoring and induction of pulmonary maturation, symptomatic therapy under careful blood pressure lowering and determination of the optimal delivery time. A balance must be made here between foetal immaturity and maternal risks upon prolongations. The pathomechanism of anti-angiogenic overload with sFlt-1 provides a starting point for first therapeutic interventions. The present article gives an overview of current diagnostic options and presents possible future therapeutic perspectives for discussion. PMID:26640284

  18. Vogt-Koyanagi-Harada syndrome: Perspectives for immunogenetics, multimodal imaging, and therapeutic options.

    PubMed

    Silpa-Archa, Sukhum; Silpa-Archa, Narumol; Preble, Janine M; Foster, C Stephen

    2016-08-01

    Vogt-Koyanagi-Harada syndrome (VKH) is a bilateral, diffuse granulomatous uveitis associated with neurological, audiovestibular, and dermatological systems. The primary pathogenesis is T-cell-mediated autoimmune response directed towards melanocyte or melanocyte-associated antigens causing inflammation of the choroidal layer. This phenomenon usually leads to diffuse inflammatory conditions throughout most parts of eye before ocular complications ensue. The diagnosis is achieved mainly by clinical features according to the revised diagnostic criteria of VKH published in 2001, without confirmatory serologic tests as a requirement. However, ancillary tests, especially multimodal imaging, can reliably provide supportive evidence for the diagnosis of early cases, atypical presentations, and evaluation of management. Prompt treatment with systemic corticosteroids and early non-steroidal immunosuppressive drug therapy can lessen visually threatening ocular complications and bring about good visual recovery. Close monitoring warrants visual stabilization from disease recurrence and ocular complications. This article review aims not only to update comprehensive knowledge regarding VKH but also to emphasize three major perspectives of VKH: immunogenetics as the major pathogenesis of the disease, multimodal imaging, and therapeutic options. The role of anti-vascular endothelial growth factor therapy and drug-induced VKH is also provided. PMID:27060382

  19. The practicing physician's current perspective on therapeutic options in coronary artery disease

    PubMed Central

    Drenth, D.J.; Zijlstra, F.; Boonstra, P.W.

    2005-01-01

    Over the past decades the management of patients with stable as well as unstable manifestations of coronary artery disease has evolved in every aspect of routine clinical practice. Modern diagnostic modalities allow reliable and objective assessment of both the anatomical and functional consequences of the early as well as advanced stages of this disease, which remains one of the most important causes of morbidity and mortality worldwide. Pharmacological therapy now includes several classes of drugs with mortality benefits documented by randomised controlled trials. Surgical and percutaneous revascularisation techniques have shown rapid technical improvements and are now applicable in a wide range of clinical conditions. In this paper we will attempt to place the current status of the three therapeutic options for patients with coronary artery disease into perspective. It is important to realise that it is impossible to write a complete overview, a Pubmed search: 'PCI or drug therapy or surgery for coronary artery disease' results in 1,152,117 hits. Therefore, we have chosen the viewpoint of the practicing physician to synthesise this abundance of information in the context of modern clinical practice in a high volume cardiothoracic and cardiological practice. PMID:25696508

  20. ARC-VM: An architecture real options complexity-based valuation methodology for military systems-of-systems acquisitions

    NASA Astrophysics Data System (ADS)

    Domercant, Jean Charles

    The combination of today's national security environment and mandated acquisition policies makes it necessary for military systems to interoperate with each other to greater degrees. This growing interdependency results in complex Systems-of-Systems (SoS) that only continue to grow in complexity to meet evolving capability needs. Thus, timely and affordable acquisition becomes more difficult, especially in the face of mounting budgetary pressures. To counter this, architecting principles must be applied to SoS design. The research objective is to develop an Architecture Real Options Complexity-Based Valuation Methodology (ARC-VM) suitable for acquisition-level decision making, where there is a stated desire for more informed tradeoffs between cost, schedule, and performance during the early phases of design. First, a framework is introduced to measure architecture complexity as it directly relates to military SoS. Development of the framework draws upon a diverse set of disciplines, including Complexity Science, software architecting, measurement theory, and utility theory. Next, a Real Options based valuation strategy is developed using techniques established for financial stock options that have recently been adapted for use in business and engineering decisions. The derived complexity measure provides architects with an objective measure of complexity that focuses on relevant complex system attributes. These attributes are related to the organization and distribution of SoS functionality and the sharing and processing of resources. The use of Real Options provides the necessary conceptual and visual framework to quantifiably and traceably combine measured architecture complexity, time-valued performance levels, as well as programmatic risks and uncertainties. An example suppression of enemy air defenses (SEAD) capability demonstrates the development and usefulness of the resulting architecture complexity & Real Options based valuation methodology. Different

  1. Real Options Valuation of U.S. Federal Renewable Energy Research,Development, Demonstration, and Deployment

    SciTech Connect

    Siddiqui, Afzal S.; Marnay, Chris; Wiser, Ryan H.

    2005-03-01

    Benefits analysis of US Federal government funded research, development, demonstration, and deployment (RD3) programs for renewable energy (RE) technology improvement typically employs a deterministic forecast of the cost and performance of renewable and nonrenewable fuels. The benefits estimate for a program derives from the difference between two forecasts, with and without the RD3 in place. The deficiencies of the current approach are threefold: (1) it does not consider uncertainty in the cost of non-renewable energy (NRE), and the option or insurance value of deploying RE if and when NRE costs rise; (2) it does not consider the ability of the RD3 manager to adjust the RD3 effort to suit the evolving state of the world, and the option value of this flexibility; and (3) it does not consider the underlying technical risk associated with RD3, and the impact of that risk on the programs optimal level of RD3 effort. In this paper, a rudimentary approach to determining the option value of publicly funded RE RD3 is developed. The approach seeks to tackle the first deficiency noted above by providing an estimate of the options benefit of an RE RD3 program in a future with uncertain NRE costs.While limited by severe assumptions, a computable lattice of options values reveals the economic intuition underlying the decision-making process. An illustrative example indicates how options expose both the insurance and timing values inherent in a simplified RE RD3 program that coarsely approximates the aggregation of current Federal RE RD3.This paper also discusses the severe limitations of this initial approach, and identifies needed model improvements before the approach can adequately respond to the RE RD3 analysis challenge.

  2. Orality and Literacy--the Real Difference: A Historical Perspective.

    ERIC Educational Resources Information Center

    Cox, Gary N.

    Just as a contemporary professional person maintains copies of wills, real estate records, and court decrees, so did 15th-century B.C. residents of the ancient city of Nuzi. Such documents, then and now, are generally written by legal scribes. The Hittites of the 14th century B.C. maintained detailed manuals concerning the care and feeding of…

  3. AIR EMISSIONS FROM RESIDENTIAL HEATING: THE WOOD HEATING OPTION PUT INTO ENVIRONMENTAL PERSPECTIVE

    EPA Science Inventory

    The paper compares the national scale (rather than local) air quality impacts of the various residential space heating options. Specifically, it compares the relative contribution of the space heating options to fine particulate emissions, greenhouse gas emissions, and acid preci...

  4. Method for producing three-dimensional real image using radiographic perspective views of an object

    DOEpatents

    Ellingson, William A.; Read, Alvin A.

    1976-02-24

    A sequence of separate radiographs are made by indexing a radiation source along a known path relative to the object under study. Thus, each radiograph contains information from a different perspective. A holographically-recorded image is then made from each radiographic perspective by exact re-tracing of the rays through each radiographic perspective such that the re-tracing duplicates the geometry under which it was originally prepared. The holographically-stored images are simultaneously illuminated with the conjugate of the reference beam used in the original recordings. The result is the generation of a three-dimensional real image of the object such that a light-sensitive device can be moved to view the real image along any desired surface with the optical information in all other surfaces greatly suppressed.

  5. Real world biodiversity-ecosystem functioning: a seafloor perspective.

    PubMed

    Snelgrove, Paul V R; Thrush, Simon F; Wall, Diana H; Norkko, Alf

    2014-07-01

    The effective application of biodiversity-ecosystem function (BEF) research to societal needs amid the Anthropocene represents the next grand challenge for ecology. Biodiversity knowledge that is most meaningful to society must reconcile insights derived from theory with detailed experiments and broad-scale trends. This perspective requires science that addresses high species richness, redundancy, and natural variability, which simplified 'model systems' cannot mimic. Here, we illustrate solutions of biodiversity knowledge to management and societal problems that combine BEF with scaling experiments, analysis of BEF along environmental gradients, and mapping technologies. We primarily draw examples from biophysical interactions in seafloor environments, which cover 70% of the Earth and add significantly to global ecosystem functions and services. PMID:24932849

  6. The RealGas and RealGasH2O options of the TOUGH+ code for the simulation of coupled fluid and heat flow in tight/shale gas systems

    EPA Science Inventory

    We developed two new EOS additions to the TOUGH+ family of codes, the RealGasH2O and RealGas. The RealGasH2O EOS option describes the non-isothermal two-phase flow of water and a real gas mixture in gas reservoirs, with a particular focus in ultra-tight (such as tight-sand and sh...

  7. A Real-World Perspective on Molecular Design.

    PubMed

    Kuhn, Bernd; Guba, Wolfgang; Hert, Jérôme; Banner, David; Bissantz, Caterina; Ceccarelli, Simona; Haap, Wolfgang; Körner, Matthias; Kuglstatter, Andreas; Lerner, Christian; Mattei, Patrizio; Neidhart, Werner; Pinard, Emmanuel; Rudolph, Markus G; Schulz-Gasch, Tanja; Woltering, Thomas; Stahl, Martin

    2016-05-12

    We present a series of small molecule drug discovery case studies where computational methods were prospectively employed to impact Roche research projects, with the aim of highlighting those methods that provide real added value. Our brief accounts encompass a broad range of methods and techniques applied to a variety of enzymes and receptors. Most of these are based on judicious application of knowledge about molecular conformations and interactions: filling of lipophilic pockets to gain affinity or selectivity, addition of polar substituents, scaffold hopping, transfer of SAR, conformation analysis, and molecular overlays. A case study of sequence-driven focused screening is presented to illustrate how appropriate preprocessing of information enables effective exploitation of prior knowledge. We conclude that qualitative statements enabling chemists to focus on promising regions of chemical space are often more impactful than quantitative prediction. PMID:26878596

  8. Evaluation of food waste disposal options by LCC analysis from the perspective of global warming: Jungnang case, South Korea

    SciTech Connect

    Kim, Mi-Hyung; Song, Yul-Eum; Song, Han-Byul; Kim, Jung-Wk; Hwang, Sun-Jin

    2011-09-15

    Highlights: > Various food waste disposal options were evaluated from the perspective of global warming. > Costs of the options were compared by the methodology of life cycle assessment and life cycle cost analysis. > Carbon price and valuable by-products were used for analyzing environmental credits. > The benefit-cost ratio of wet feeding scenario was the highest. - Abstract: The costs associated with eight food waste disposal options, dry feeding, wet feeding, composting, anaerobic digestion, co-digestion with sewage sludge, food waste disposer, incineration, and landfilling, were evaluated in the perspective of global warming and energy and/or resource recovery. An expanded system boundary was employed to compare by-products. Life cycle cost was analyzed through the entire disposal process, which included discharge, separate collection, transportation, treatment, and final disposal stages, all of which were included in the system boundary. Costs and benefits were estimated by an avoided impact. Environmental benefits of each system per 1 tonne of food waste management were estimated using carbon prices resulting from CO{sub 2} reduction by avoided impact, as well as the prices of by-products such as animal feed, compost, and electricity. We found that the cost of landfilling was the lowest, followed by co-digestion. The benefits of wet feeding systems were the highest and landfilling the lowest.

  9. Are white-rot fungi a real biotechnological option for the improvement of environmental health?

    PubMed

    Tortella, G; Durán, N; Rubilar, O; Parada, M; Diez, M C

    2015-06-01

    The use of white-rot fungi as a biotechnological tool for cleaning the environment of recalcitrant pollutants has been under evaluation for several years. However, it is still not possible to find sufficiently detailed investigations of this subject to conclude that these fungi can decontaminate the environment. In the present review, we have summarized and discussed evidence about the potential of white-rot fungi to degrade such pollutants as polycyclic aromatic hydrocarbons, dyes or antibiotics as an example of the complex structures that these microorganisms can attack. This review also discusses field experiment results and limitations of white-rot fungi trials from contaminated sites. Moreover, the use of catabolic potential of white-rot fungi in biopurification systems (biobeds) is also discussed. The current status and future perspectives of white-rot fungi, as a viable biotechnological alternative for improvement of environmental health are noted. PMID:24083453

  10. Supply chain management and economic valuation of real options in the natural gas and liquefied natural gas industry

    NASA Astrophysics Data System (ADS)

    Wang, Mulan Xiaofeng

    My dissertation concentrates on several aspects of supply chain management and economic valuation of real options in the natural gas and liquefied natural gas (LNG) industry, including gas pipeline transportations, ocean LNG shipping logistics, and downstream storage. Chapter 1 briefly introduces the natural gas and LNG industries, and the topics studied in this thesis. Chapter 2 studies how to value U.S. natural gas pipeline network transport contracts as real options. It is common for natural gas shippers to value and manage contracts by simple adaptations of financial spread option formulas that do not fully account for the implications of the capacity limits and the network structure that distinguish these contracts. In contrast, we show that these operational features can be fully captured and integrated with financial considerations in a fairly easy and managerially significant manner by a model that combines linear programming and simulation. We derive pathwise estimators for the so called deltas and structurally characterize them. We interpret them in a novel fashion as discounted expectations, under a specific weighing distribution, of the amounts of natural gas to be procured/marketed when optimally using pipeline capacity. Based on the actual prices of traded natural gas futures and basis swaps, we show that an enhanced version of the common approach employed in practice can significantly underestimate the true value of natural gas pipeline network capacity. Our model also exhibits promising financial (delta) hedging performance. Thus, this model emerges as an easy to use and useful tool that natural gas shippers can employ to support their valuation and delta hedging decisions concerning natural gas pipeline network transport capacity contracts. Moreover, the insights that follow from our data analysis have broader significance and implications in terms of the management of real options beyond our specific application. Motivated by current developments

  11. The Choice to Homeschool: Home Educator Perspectives and School District Options

    ERIC Educational Resources Information Center

    Dahlquist, Kari L.; York-Barr, Jennifer; Hendel, Darwin D.

    2006-01-01

    Schools today are increasingly market driven, and public schools are competing for students with numerous other educational options. Homeschool education continues to grow rapidly as one such option. Minnesota, considered a leader in school choice, has experienced rapid growth in the incidence of home-educated children. Such growth raises…

  12. Internalizing production externalities: A structural estimation of real options in the upstream oil and gas industry

    NASA Astrophysics Data System (ADS)

    Muehlenbachs, Lucija

    implies that typically wells are left inactive not because of the option to reactivate, but rather because the cost of environmental cleanup is too high. Should there be externalities from idling the wells (such as continued contamination of groundwater) that are not accounted for in the decision, then this behavior may not be socially optimal. The model predicts that a Pigouvian tax on inactive wells would have the added benefit of inciting the reactivation of oil and gas wells, however in the case of oil, a tax would incite more wells to be decommissioned than reactivated.

  13. Option pricing formulas and nonlinear filtering: a Feynman path integral perspective

    NASA Astrophysics Data System (ADS)

    Balaji, Bhashyam

    2013-05-01

    Many areas of engineering and applied science require the solution of certain parabolic partial differential equa­ tions, such as the Fokker-Planck and Kolmogorov equations. The fundamental solution, or the Green's function, for such PDEs can be written in terms of the Feynman path integral (FPI). The partial differential equation arising in the valuing of options is the Kolmogorov backward equation that is referred to as the Black-Scholes equation. The utility of this is demonstrated and numerical examples that illustrate the high accuracy of option price calculation even when using a fairly coarse grid.

  14. Unmet needs of patients with narcolepsy: perspectives on emerging treatment options

    PubMed Central

    Wozniak, Dariusz R; Quinnell, Timothy G

    2015-01-01

    The treatment options currently available for narcolepsy are often unsatisfactory due to suboptimal efficacy, troublesome side effects, development of drug tolerance, and inconvenience. Our understanding of the neurobiology of narcolepsy has greatly improved over the last decade. This knowledge has not yet translated into additional therapeutic options for patients, but progress is being made. Some compounds, such as histaminergic H3 receptor antagonists, may prove useful in symptom control of narcolepsy. The prospect of finding a cure still seems distant, but hypocretin replacement therapy offers some promise. In this narrative review, we describe these developments and others which may yield more effective narcolepsy treatments in the future. PMID:26045680

  15. Implementation of a real option in a sustainable supply chain: an empirical study of alkaline battery recycling

    NASA Astrophysics Data System (ADS)

    Cucchiella, Federica; D'Adamo, Idiano; Gastaldi, Massimo; Lenny Koh, S. C.

    2014-06-01

    Green supply chain management (GSCM) has emerged as a key approach for enterprises seeking to become environmentally sustainable. This paper aims to evaluate and describe the advantages of a GSCM approach by analysing practices and performance consequences in the battery recycling sector. It seeks to integrate works in supply chain management (SCM), environmental management, performance management and real option (RO) theory into one framework. In particular, life cycle assessment (LCA) is applied to evaluate the environmental impact of a battery recycling plant project, and life cycle costing (LCC) is applied to evaluate its economic impact. Firms, also understanding the relevance of GSCM, have often avoided applying the green principles because of the elevated costs that such management involved. Such costs could also seem superior to the potential advantages since standard performance measurement systems are internally and business focused; for these reasons, we consider all the possible value deriving also by uncertainty associated to a green project using the RO theory. This work is one of the few and pioneering efforts to investigate GSCM practices in the battery recycling sector.

  16. [Allergen-specific immunotherapy for food allergies in childhood. Current options and future perspectives].

    PubMed

    Trendelenburg, Valérie; Blümchen, Katharina

    2016-07-01

    During recent years increasing research has been conducted on casual treatment options for food allergy, with focus on oral immunotherapy (OIT) for hen's egg, cow's milk and peanut allergy. Several studies could show that OIT leads to desensitization or an increase of threshold. However, severe adverse events during this treatment are not uncommon. Whether OIT leads to a sustained, 'robust' development of tolerance in patients has not yet been thoroughly investigated. Besides OIT, some studies on sublingual (SLIT) and epicutaneous immunotherapy (EPIT) were performed, aiming to improve the safety profile. Furthermore, there are some pilot studies investigating a combined treatment of SLIT and OIT or a combined use of anti-IgE treatment or probiotic supplementation with OIT. Further placebo-controlled trials with larger sample size are needed in order to develop standardized protocols before immunotherapy may be used as a therapeutic option for food allergy outside of clinical trials. PMID:27324376

  17. An ill-posed problem for the Black-Scholes equation for a profitable forecast of prices of stock options on real market data

    NASA Astrophysics Data System (ADS)

    Klibanov, Michael V.; Kuzhuget, Andrey V.; Golubnichiy, Kirill V.

    2016-01-01

    A new empirical mathematical model for the Black-Scholes equation is proposed to forecast option prices. This model includes new interval for the price of the underlying stock, new initial and new boundary conditions. Conventional notions of maturity time and strike prices are not used. The Black-Scholes equation is solved as a parabolic equation with the reversed time, which is an ill-posed problem. Thus, a regularization method is used to solve it. To verify the validity of our model, real market data for 368 randomly selected liquid options are used. A new trading strategy is proposed. Our results indicates that our method is profitable on those options. Furthermore, it is shown that the performance of two simple extrapolation-based techniques is much worse. We conjecture that our method might lead to significant profits of those financial insitutions which trade large amounts of options. We caution, however, that further studies are necessary to verify this conjecture.

  18. HIV-positive pregnant and postpartum women's perspectives about Option B+ in Malawi: a qualitative study

    PubMed Central

    Katirayi, Leila; Namadingo, Hazel; Phiri, Mafayo; Bobrow, Emily A; Ahimbisibwe, Allan; Berhan, Aida Yemane; Buono, Nicole; Moland, Karen Marie; Tylleskär, Thorkild

    2016-01-01

    Introduction The implementation of lifelong antiretroviral treatment (ART) for all pregnant women (Option B+) in Malawi has resulted in a significant increase in the number of HIV-positive pregnant women initiating treatment. However, research has highlighted the challenge of retaining newly initiated women in care. This study explores barriers and facilitators that affect a woman's decision to initiate and to adhere to Option B+. Methods A total of 39 in-depth interviews and 16 focus group discussions were conducted. Eligible women were ≥18 years old, living with HIV and either pregnant and receiving antenatal care from a study site or had delivered a child within the last 18 months, breastfed their child and received services at one of the study sites. Eligible women were identified by healthcare workers (HCWs) in the antenatal clinic and ART unit. Focus groups were also conducted with HCWs employed in these departments. Qualitative data were analyzed using Maxqda version 10 (VERBI Software, Berlin, Germany). Results The general perception towards the drug regimen used in Option B+ was positive; women reported fewer side effects and acknowledged the positive benefits of ART. Women felt hopeful about prolonging their life and having an HIV-uninfected baby, yet grappled with the fact that ART is a lifelong commitment. Women and HCWs discussed challenges with the counselling services for prevention of mother-to-child HIV transmission under the new Option B+ guidelines, and many women struggled with initiating ART on the same day as learning their HIV status. Women wanted to discuss their circumstances with their husbands first, receive a CD4 count and obtain an HIV test at another facility to confirm their HIV status. HCWs expressed concern that women might just agree to take the drugs to please them. HCWs also discussed concerns around loss to follow-up and drug resistance. Conclusions Although Option B+ has significantly increased the number of women initiating

  19. Sustainable development and environmental protection: A perspective on current trends and future options for universities

    NASA Astrophysics Data System (ADS)

    Lemons, John

    1995-03-01

    Problems of sustainable development and environmental protection pose a challenge to humanity unprecedented in scope and complexity. Whether and how the problems are resolved have significant implications for human and ecological well-being. In this paper, I discuss briefly recent international recommendations to promote sustainable development and environmental protection. I then offer a perspective on the roles and prospects of the university in promoting sustainable development and environmental protection.

  20. Real Time Pricing as a Default or Optional Service for C&ICustomers: A Comparative Analysis of Eight Case Studies

    SciTech Connect

    Barbose, Galen; Goldman, Charles; Bharvirkar, Ranjit; Hopper,Nicole; Ting, Michael; Neenan, Bernie

    2005-08-01

    Demand response (DR) has been broadly recognized to be an integral component of well-functioning electricity markets, although currently underdeveloped in most regions. Among the various initiatives undertaken to remedy this deficiency, public utility commissions (PUC) and utilities have considered implementing dynamic pricing tariffs, such as real-time pricing (RTP), and other retail pricing mechanisms that communicate an incentive for electricity consumers to reduce their usage during periods of high generation supply costs or system reliability contingencies. Efforts to introduce DR into retail electricity markets confront a range of basic policy issues. First, a fundamental issue in any market context is how to organize the process for developing and implementing DR mechanisms in a manner that facilitates productive participation by affected stakeholder groups. Second, in regions with retail choice, policymakers and stakeholders face the threshold question of whether it is appropriate for utilities to offer a range of dynamic pricing tariffs and DR programs, or just ''plain vanilla'' default service. Although positions on this issue may be based primarily on principle, two empirical questions may have some bearing--namely, what level of price response can be expected through the competitive retail market, and whether establishing RTP as the default service is likely to result in an appreciable level of DR? Third, if utilities are to have a direct role in developing DR, what types of retail pricing mechanisms are most appropriate and likely to have the desired policy impact (e.g., RTP, other dynamic pricing options, DR programs, or some combination)? Given a decision to develop utility RTP tariffs, three basic implementation issues require attention. First, should it be a default or optional tariff, and for which customer classes? Second, what types of tariff design is most appropriate, given prevailing policy objectives, wholesale market structure, ratemaking

  1. PARP Inhibitors for Recurrent Ovarian Carcinoma: Current Treatment Options and Future Perspectives

    PubMed Central

    Sehouli, J.; Braicu, E. I.; Chekerov, R.

    2016-01-01

    More than simply a promising management option, PARP inhibitors can be regarded as a milestone in the development of personalised treatment of recurrent ovarian carcinoma. Their mechanism of action, known as “synthetic lethality”, is dependent on functional differences of the DNA repair mechanisms of healthy cells and tumour cells; cells that repair DNA damage less efficiently are particularly sensitive to PARP inhibitors. Olaparib, licensed for use this year, is the best-studied PARP inhibitor used for treatment of high-grade serous ovarian carcinoma (HGSC). The efficacy of PARP inhibitors appears to be increased when used in combination with other treatments. PMID:26941449

  2. Analysis of sampling plan options for tank 16H from the perspective of statistical uncertainty

    SciTech Connect

    Shine, E. P.

    2013-02-28

    This report develops a concentration variability model for Tank 16H in order to compare candidate sampling plans for assessing the concentrations of analytes in the residual material in the annulus and on the floor of the primary vessel. A concentration variability model is used to compare candidate sampling plans based on the expected upper 95% confidence limit (UCL95) for the mean. The result is expressed as a rank order of candidate sampling plans from lowest to highest expected UCL95, with the lowest being the most desirable from an uncertainty perspective.

  3. Is Entombment an Acceptable Option for Decommissioning? An International Perspective - 13488

    SciTech Connect

    Belencan, Helen; Nys, Vincent; Guskov, Andrey; Francois, Patrice; Watson, Bruce; Ljubenov, Vladan

    2013-07-01

    Selection of a decommissioning strategy is one of the key steps in the preparation for decommissioning of nuclear facilities and other facilities using radioactive material. Approaches being implemented or considered by Member States include immediate dismantling, deferred dismantling and entombment. Other options or slight modifications of these strategies are also possible. Entombment has been identified in the current International Atomic Energy Agency (IAEA) Safety Standards as one of the three basic decommissioning strategies and has been defined as a decommissioning strategy by which radioactive contaminants are encased in a structurally long lived material until radioactivity decays to a level permitting the unrestricted release of the facility, or release with restrictions imposed by the regulatory body. Although all three strategies have been considered, in principle, applicable to all facilities, their application to some facilities may not be appropriate owing to political concerns, safety or environmental requirements, technical considerations, local conditions or financial considerations. The IAEA is currently revising the decommissioning Safety Standards and one of the issues widely discussed has been the applicability of entombment in the context of decommissioning and its general objective to enable removal of regulatory control from the decommissioned facility. The IAEA recently established a consultancy to collect and discuss experience and lessons learned from entombment projects, to identify regulatory requirements and expectations for applying entombment as a decommissioning option strategy, in compliance with the internationally agreed standards. (authors)

  4. Management options for children with attention-deficit/hyperactivity disorder: a regional perspective on value.

    PubMed

    Ollendorf, Daniel A; Migliaccio-Walle, Kristen; Colby, Jennifer A; Pearson, Steven D

    2013-05-01

    Use of comparative effectiveness information in local healthcare decisions can be confounded by variations in practice, barriers to access and population demographics. The New England Comparative Effectiveness Public Advisory Council was convened as a public deliberative panel that considers evidence on the comparative clinical effectiveness and comparative value of a variety of therapeutic interventions. The council is tasked with making summary judgments on the evidence and recommendations for applying the evidence in medical and drug coverage policy, as well as initiating educational efforts for patients and clinicians. The New England Comparative Effectiveness Public Advisory Council met in June 2012 to discuss management options for attention-deficit/hyperactivity disorder, guided by a recent comparative effectiveness review from the Agency for Healthcare Research and Quality and supplementary economic analyses conducted by the Institute for Clinical and Economic Review. This article summarizes the deliberations and reflects on lessons learned regarding use of region-specific economic analyses to guide decision-making. PMID:24236625

  5. Food waste conversion options in Singapore: environmental impacts based on an LCA perspective.

    PubMed

    Khoo, Hsien H; Lim, Teik Z; Tan, Reginald B H

    2010-02-15

    Proper management and recycling of huge volumes of food waste is one of the challenges faced by Singapore. Semakau island - the only offshore landfill of the nation - only accepts inert, inorganic solid waste and therefore a large bulk of food waste is directed to incinerators. A remaining small percent is sent for recycling via anaerobic digestion (AD), followed by composting of the digestate material. This article investigates the environmental performance of four food waste conversion scenarios - based on a life cycle assessment perspective - taking into account air emissions, useful energy from the incinerators and AD process, as well as carbon dioxide mitigation from the compost products derived from the digestate material and a proposed aerobic composting system. The life cycle impact results were generated for global warming, acidification, eutrophication, photochemical oxidation and energy use. The total normalized results showed that a small-scale proposed aerobic composting system is more environmentally favorable than incinerators, but less ideal compared to the AD process. By making full use of the AD's Recycling Phase II process alone, the Singapore Green Plan's 2012 aim to increase the recycling of food waste to 30% can easily be achieved, along with reduced global warming impacts. PMID:19926117

  6. Adaptation Options for Land Drainage Systems Towards Sustainable Agriculture and Environment: A Czech Perspective

    NASA Astrophysics Data System (ADS)

    Kulhavý, Zbyněk; Fučík, Petr

    2015-04-01

    In this paper, issues of agricultural drainage systems are introduced and discussed from the views of their former, current and future roles and functioning in the Czech Republic (CR). A methodologically disparate survey was done on thirty-nine model localities in CR with different intensity and state of land drainage systems, aimed at description of commonly occurred problems and possible adaptations of agricultural drainage as perceived by farmers, land owners, landscape managers or by protective water management. The survey was focused on technical state of drainage, fragmentation of land ownership within drained areas as well as on possible conflicts between agricultural and environmental interests in a landscape. Achieved results confirmed that there is obviously an increasing need to reassess some functions of prevailingly single-purpose agricultural drainage systems. Drainage intensity and detected unfavourable technical state of drainage systems as well as the risks connected with the anticipated climate change from the view of possible water scarcity claims for a complex solution. An array of adaptation options for agricultural drainage systems is presented, aiming at enhancement of water retention time and improvement of water quality. It encompasses additional flow-controlling measures on tiles or ditches, or facilities for making selected parts of a drainage system inoperable in order to retain or slow down the drainage runoff, to establish water accumulation zones and to enhance water self-cleaning processes. However, it was revealed that the question of landowner parcels fragmentation on drained land in CR would dramatically complicate design and realization of these measures. Presented solutions and findings are propounded with a respect to contemporary and future state policies and international strategies for sustainable agriculture, water management and environment.

  7. Real Time Semantic Interoperability in AD HOC Networks of Geospatial Data Sources: Challenges, Achievements and Perspectives

    NASA Astrophysics Data System (ADS)

    Mostafavi, M. A.; Bakillah, M.

    2012-07-01

    Recent advances in geospatial technologies have made available large amount of geospatial data. Meanwhile, new developments in Internet and communication technologies created a shift from isolated geospatial databases to ad hoc networks of geospatial data sources, where data sources can join or leave the network, and form groups to share data and services. However, effective integration and sharing of geospatial data among these data sources and their users are hampered by semantic heterogeneities. These heterogeneities affect the spatial, temporal and thematic aspects of geospatial concepts. There have been many efforts to address semantic interoperability issues in the geospatial domain. These efforts were mainly focused on resolving heterogeneities caused by different and implicit representations of the concepts. However, many approaches have focused on the thematic aspects, leaving aside the explicit representation of spatial and temporal aspects. Also, most semantic interoperability approaches for networks have focused on automating the semantic mapping process. However, the ad hoc network structure is continuously modified by source addition or removal, formation of groups, etc. This dynamic aspect is often neglected in those approaches. This paper proposes a conceptual framework for real time semantic interoperability in ad hoc networks of geospatial data sources. The conceptual framework presents the fundamental elements of real time semantic interoperability through a hierarchy of interrelated semantic states and processes. Then, we use the conceptual framework to set the discussion on the achievements that have already been made, the challenges that remain to be addressed and perspectives with respect to these challenges.

  8. Social Cohesion as a Real-Life Phenomenon: Assessing the Explanatory Power of the Universalist and Particularist Perspectives

    ERIC Educational Resources Information Center

    Janmaat, Jan Germen

    2011-01-01

    Unlike most studies on social cohesion, this study explores the concept as a real-life macro-level phenomenon. It assesses to what extent the conceptions of social cohesion suggested by several macro-level approaches represent coherent empirically observable forms of social cohesion. Additionally it discusses two perspectives on social…

  9. The RealGas and RealGasH2O options of the TOUGH+ code for the simulation of coupled fluid and heat flow in tight/shale gas systems

    NASA Astrophysics Data System (ADS)

    Moridis, George J.; Freeman, Craig M.

    2014-04-01

    We developed two new EOS additions to the TOUGH+ family of codes, the RealGasH2O and RealGas. The RealGasH2O EOS option describes the non-isothermal two-phase flow of water and a real gas mixture in gas reservoirs, with a particular focus in ultra-tight (such as tight-sand and shale gas) reservoirs. The gas mixture is treated as either a single-pseudo-component having a fixed composition, or as a multicomponent system composed of up to 9 individual real gases. The RealGas option has the same general capabilities, but does not include water, thus describing a single-phase, dry-gas system. In addition to the standard capabilities of all members of the TOUGH+ family of codes (fully-implicit, compositional simulators using both structured and unstructured grids), the capabilities of the two codes include coupled flow and thermal effects in porous and/or fractured media, real gas behavior, inertial (Klinkenberg) effects, full micro-flow treatment, Darcy and non-Darcy flow through the matrix and fractures of fractured media, single- and multi-component gas sorption onto the grains of the porous media following several isotherm options, discrete and fracture representation, complex matrix-fracture relationships, and porosity-permeability dependence on pressure changes. The two options allow the study of flow and transport of fluids and heat over a wide range of time frames and spatial scales not only in gas reservoirs, but also in problems of geologic storage of greenhouse gas mixtures, and of geothermal reservoirs with multi-component condensable (H2O and CH4) and non-condensable gas mixtures. The codes are verified against available analytical and semi-analytical solutions. Their capabilities are demonstrated in a series of problems of increasing complexity, ranging from isothermal flow in simpler 1D and 2D conventional gas reservoirs, to non-isothermal gas flow in 3D fractured shale gas reservoirs involving 4 types of fractures, micro-flow, non-Darcy flow and gas

  10. The RealGas and RealGasH2O Options of the TOUGH+ Code for the Simulation of Coupled Fluid and Heat Flow in Tight/Shale Gas Systems

    SciTech Connect

    Moridis, George; Freeman, Craig

    2013-09-30

    We developed two new EOS additions to the TOUGH+ family of codes, the RealGasH2O and RealGas . The RealGasH2O EOS option describes the non-isothermal two-phase flow of water and a real gas mixture in gas reservoirs, with a particular focus in ultra-tight (such as tight-sand and shale gas) reservoirs. The gas mixture is treated as either a single-pseudo-component having a fixed composition, or as a multicomponent system composed of up to 9 individual real gases. The RealGas option has the same general capabilities, but does not include water, thus describing a single-phase, dry-gas system. In addition to the standard capabilities of all members of the TOUGH+ family of codes (fully-implicit, compositional simulators using both structured and unstructured grids), the capabilities of the two codes include: coupled flow and thermal effects in porous and/or fractured media, real gas behavior, inertial (Klinkenberg) effects, full micro-flow treatment, Darcy and non-Darcy flow through the matrix and fractures of fractured media, single- and multi-component gas sorption onto the grains of the porous media following several isotherm options, discrete and fracture representation, complex matrix-fracture relationships, and porosity-permeability dependence on pressure changes. The two options allow the study of flow and transport of fluids and heat over a wide range of time frames and spatial scales not only in gas reservoirs, but also in problems of geologic storage of greenhouse gas mixtures, and of geothermal reservoirs with multi-component condensable (H2O and CH4) and non-condensable gas mixtures. The codes are verified against available analytical and semi-analytical solutions. Their capabilities are demonstrated in a series of problems of increasing complexity, ranging from isothermal flow in simpler 1D and 2D conventional gas reservoirs, to non-isothermal gas flow in 3D fractured shale gas reservoirs involving 4 types of fractures, micro-flow, non-Darcy flow and gas

  11. Needs of Near Real-Time Data: Perspectives for Supporting Disaster Observations -- Wildfires

    NASA Astrophysics Data System (ADS)

    Ambrosia, V. G.; Buechel, S.; Sullivan, D. V.; Enomoto, F. Y.; Hinkley, E.

    2010-12-01

    Between 2004 and 2010, the Wildfire Research and Applications Partnership (WRAP), a joint NASA / US Forest Service project, matured, demonstrated and transitioned innovative technologies and capabilities for real-time information data delivery to Incident Management Teams on wildland fires in the United States. The capabilities included the development of innovative unmanned airborne systems (UAS), multispectral sensors, on-board, real-time processing, and a COTS-driven visualization and common operating picture (COP) capability. The UAS airborne element involved demonstrating a medium-altitude, large payload capacity, long-duration, Unmanned Airborne Systems (UAS) the NASA Ikhana (Predator-B derivative). The sensor system, a redesigned Daedalus AADS1268 line-scanner with 16 spectral channels (VIS-IR-TIR), was further modified to allow long-duration mission capabilities, and full on-board geo-rectification and second-generation product development for delivery through a UAS / SatCom / Ground data telemetry system. The COP, the Collaborative Decision Environment (CDE) based on a mash-up of wildfire intelligence data in GoogleEarth, enabled operational use of the real-time UAS-acquired sensor data, along with other critical geospatial fire / weather data for incident management team use and visualization. The CDE allowed the shared integration of various additional asset information sets (satellite, other airborne sensor data, and ground condition information, comprising a simplified sensor web concept design. All of these capabilities and advancements are described from both a development and “end-user” perspective. The wildfire management agency end-users (primarily the U.S. Forest Service), are currently adopting some of these capabilities into operational utility. An assessment of the gaps in adaptation will also be addressed.

  12. Robust decisions and deep uncertainty: An application of real options to public and private investment in hydrogen and fuel cell technologies

    NASA Astrophysics Data System (ADS)

    Mahnovski, Sergej

    This dissertation assesses the prospects for private sector investment in hydrogen and fuel cell technologies using an innovative application of real options analysis. Specifically, the dissertation considers the decision faced by natural gas utilities over whether, how and to what extent they should invest in projects that could be of value if a hydrogen energy market develops in the future. This is a problem of investment under uncertainty when there is little prior information available and where the investment itself could affect the future development of this market. The ultimate goal of the dissertation is to identify investment strategies that are robust against alternative futures and assess the tradeoffs of various policy instruments.

  13. Steric repulsions, rotation barriers, and stereoelectronic effects: a real space perspective.

    PubMed

    Pendás, A Martín; Blanco, M A; Francisco, E

    2009-01-15

    Widely used chemical concepts like Pauli repulsion or hyperconjugation, and their role in determining rotation barriers or stereoelectronic effects, are analyzed from the real space perspective of the interacting quantum atoms approach (IQA). IQA emerges from the quantum theory of atoms in molecules (QTAIM), but is free from the equilibrium geometry constraint of the former. A framework with both electronically unrelaxed and relaxed wavefunctions is presented that leads to an approximate correspondence between the IQA concepts and those used in the EDA (energy decomposition analysis) or NBO (natural bond orbital) procedures. We show that no net force acts upon the electrons in an electronically relaxed system, so that any reasonable definition of Pauli repulsion must involve unrelaxed state functions. Using antisymmetrized fragments clarifies that Pauli repulsions are energetically connected to the IQA deformation energies, leaving footprints in the finally relaxed states. Similarly, EDA or NBO hyperconjugative stabilizations are found to be naturally related to the IQA electron delocalization patterns. Applications to the rotation barrier of ethane and other simple systems are presented, and the very often forgotten role of electrostatic contributions in determining preferred conformations is highlighted. PMID:18536054

  14. Real time ultrasound-guided percutaneous tracheostomy: Is it a better option than bronchoscopic guided percutaneous tracheostomy?

    PubMed Central

    Ravi, Parli Raghavan; Vijay, M.N.

    2015-01-01

    Background The purpose of this study was to evaluate the efficacy of ultrasound guided percutaneous tracheostomy (USPCT) and bronchoscopic guided percutaneous tracheostomy (BPCT) and the incidence of complications in critically ill, obese patients. Methods Seventy four consecutive patients were included in a prospective study and randomly divided into USPCT and BPCT. Incidence of complications, ease and efficacy were compared in obese USPCT (n = 38)and BPCT (n = 36). Results are expressed as the median (25th–75th percentile) or number (percentage). Results The median times for tracheostomy were 12 min (9–14) in USPCT patients and 18 min (12–21.5) in BPCT (p = 0.05). The overall complication rate was higher in BPCT than USPCT patient group (75% vs. 321%, p < 0.05). Most complications were minor (hypotension, desaturation, tracheal cuff puncture and minor bleeding) and of higher number in the BPCT. Ultrasound-guided PCT was possible in all enrolled patients and there were no surgical conversions or deaths. Conclusions This study demonstrated that real US-guided PCT is a favourable alternative to BPCT with a low complication rate and ease, thus proving more efficacious. A US examination provides information on cervical anatomy, vasculature etc. and hence modifies and guides choice of the PCT puncture site. PMID:25859079

  15. Current polio global eradication and control policy options: perspectives from modeling and prerequisites for oral poliovirus vaccine cessation.

    PubMed

    Thompson, Kimberly M; Tebbens, Radboud J Duintjer

    2012-04-01

    As the Global Polio Eradication Initiative progresses toward the eradication of wild polioviruses, national and global health leaders must still actively consider options for managing poliovirus risks, including risks associated with using oral poliovirus vaccine. Oral poliovirus vaccine continues to represent a highly effective tool, but its use causes noticeable, rare cases of vaccine-associated paralytic polio and with low coverage it can evolve to become circulating vaccine-derived polioviruse that causes outbreaks. National leaders face a wide range of options, but their choices depend in part on global policies. This article explores the current set of global options for poliovirus eradication or control, discusses constraints and prerequisites for their implementation and offers some insights based on dynamic modeling to inform discussions and frame future economic analyses. PMID:22551030

  16. Reproductive rights and options available to women infected with HIV in Ghana: perspectives of service providers from three Ghanaian health facilities

    PubMed Central

    2013-01-01

    Background Owing to improved management of HIV and its associated opportunistic infections, many HIV-positive persons of reproductive age are choosing to exercise their right of parenthood. This study explored the knowledge of health workers from two Ghanaian districts on the reproductive rights and options available to HIV-positive women who wish to conceive. Methods Facility-based cross-sectional in design, the study involved the entire population of nurse counselors (32) and medical officers (3) who provide counseling and testing services to clients infected with HIV. Both structured and in-depth interviews were conducted after informed consent. Results Two main perspectives were revealed. There was an overwhelmingly high level of approbation by the providers on HIV-positive women’s right to reproduction (94.3%). At the same time, the providers demonstrated a lack of knowledge regarding the various reproductive options available to women infected with HIV. Site of facility, and being younger were associated with practices that violated client’s right to contraceptive counseling (p < 0.05) in each case. Some of the providers openly expressed their inability to give qualified guidance to HIV-positive women on the various reproductive options. Conclusions Taken together, these findings suggest that many HIV-positive clients do not receive comprehensive information about their reproductive options. These findings highlight some of the problems that service providers face as HIV counselors. Both service providers and policy makers need to recognize these realities and incorporate reproductive health issues of HIV-persons into the existing guidelines. PMID:23496943

  17. Future electricity generation: An economic and environmental life cycle perspective on near-, mid- and long-term technology options and policy implications

    NASA Astrophysics Data System (ADS)

    Bergerson, Joule Andrea

    This thesis evaluates the cost and environmental tradeoffs of current and future electricity generation options from a life cycle perspective. Policy and technology options are considered for each critical time horizon (near-, mid-, and long-term). The framework developed for this analysis is a hybrid life cycle analysis which integrates several models and frameworks including process and input-output life cycle analysis, an integrated environmental control model, social costing, forecasting and future energy scenario analysis. The near-term analysis shows that several recent LCA studies of electricity options have contributed to our understanding of the technologies available and their relative environmental impacts. Several promising options could satisfy our electricity demands. Other options remain unproven or too costly to encourage investment in the near term but show promise for future use (e.g. photovoltaic, fuel cells). Public concerns could impede the use of some desirable technologies (e.g. hydro, nuclear). Finally, less tangible issues such as intermittency of some renewable technologies, social equity and visual and land use impacts, while difficult to quantify, must be considered in the investment decision process. In the mid-term analysis, this thesis explores alternative methods for transport of coal energy. A hybrid life cycle analysis is critical for evaluating the cost, efficiency and environmental tradeoffs of the entire system. If a small amount of additional coal is to be shipped, current rail infrastructure should be used where possible. If entirely new infrastructure is required, the mine mouth generation options are cheaper but have increased environmental impact due to the increased generation required to compensate for transmission line losses. Gasifying the coal to produce methane also shows promise in terms of lowering environmental emissions. The long-term analysis focuses on the implications of a high coal use future. This scenario

  18. The "Real-World" Experience: Students' Perspectives on Service-Learning Projects

    ERIC Educational Resources Information Center

    McLaughlin, Erin

    2010-01-01

    The purpose of this paper is to identify how students gain "real-world" experience via service-learning projects. This article describes the results of a pilot study conducted with over 75 business graduate students to investigate the effects of service-learning curriculum at the collegiate level. The following qualitative data was…

  19. Getting Ready for the Real World: Student Perspectives on Bringing Industry Collaboration into the Classroom

    ERIC Educational Resources Information Center

    Marcketti, Sara B.; Karpova, Elena

    2014-01-01

    Learning through industry collaborations is critical in decreasing the gap between the real world and the academic environment. Working on challenges drawn from industry can increase students' knowledge and future employability, thus enhancing labor force preparation. This study explored students' perceptions (n = 110) of the benefits…

  20. Getting Real: A Different Perspective on the Relationship between School Resources and Student Outcomes

    ERIC Educational Resources Information Center

    Greene, G. Kennedy; Huerta, Luis A.; Richards, Craig

    2007-01-01

    Most research on the association between school resources and student outcomes has concentrated on finances as measured in dollars. This study takes a fresh look at the issue by focusing on the allocation of real resources, defined as the personnel and materiel used to increase student learning, which are more relevant measures of a school's…

  1. Real Books vs Reading Schemes: A New Perspective from Instructional Psychology

    ERIC Educational Resources Information Center

    Solity, Jonathan; Vousden, Janet

    2009-01-01

    A fiercely contested debate in teaching reading concerns the respective roles and merits of reading schemes and real books. Underpinning the controversy are different philosophies and beliefs about how children learn to read. However, to some extent debates have largely been rhetoric-driven, rather than research-driven. This article provides a…

  2. Preventing CVD in resource-poor areas: perspectives from the 'real-world'.

    PubMed

    Stewart, Simon; Sliwa, Karen

    2009-07-01

    An evolving epidemic of cardiovascular disease (CVD) is having a profound effect on the health of vulnerable populations in low-to-middle income countries with limited resources. Despite some encouraging signs (particularly initiatives from the WHO), global and regional apathy towards noncommunicable forms of CVD adds to the complexity of issues to consider when establishing cost-effective prevention programs. We present our perspective on overcoming the myriad of barriers to providing cost-effective measures for CVD prevention in a resource-poor environment through the 'prism' of our experiences in establishing the Heart of Soweto Study in South Africa. PMID:19554008

  3. An Estimation of Profitability of Investment Projects in The Oil and Gas Industry Using Real Options Theory / Ocena Opłacalności Projektów Inwestycyjnych W Przemyśle Naftowym Z Wykorzystaniem Teorii Opcji Realnych

    NASA Astrophysics Data System (ADS)

    Kosowski, Piotr; Stopa, Jerzy

    2012-11-01

    Paper discusses issues relating to the valuation of investment efficiency in the oil and gas industry using a real options theory. The example of investment pricing using real options was depicted and it was confronted with the analysis executed with the use of traditional methods. Indicators commonly used to evaluate profitability of investment projects, based on a discounted cash flow method, have a few significant drawbacks, the most meaningful of which is staticity which means that any changes resulting from a decision process during the time of investment cannot be taken into consideration. In accordance with a methodology that is currently used, investment projects are analysed in a way that all the key decisions are made at the beginning and are irreversible. This approach assumes, that all the cash flows are specified and does not let the fact that during the time of investment there may appear new information, which could change its original form. What is also not analysed is the possibility of readjustment, due to staff managment's decisions, to the current market conditions, by expanding, speeding up/slowing down, abandoning or changing an outline of the undertaking. In result, traditional methods of investment projects valuation may lead to taking wrong decisions, e.g. giving up an owned exploitation licence or untimely liquidation of boreholes, which seem to be unprofitable. Due to all the above-mentioned there appears the necessity of finding some other methods which would let one make real and adequate estimations about investments in a petroleum industry especially when it comes to unconventional resources extraction. One of the methods which has been recently getting more and more approval in a world petroleum economics, is a real options pricing method. A real option is a right (but not an obligation) to make a decision connected with an investment in a specified time or time interval. According to the method a static model of pricing using DCF is

  4. A comparative study on real lab and simulation lab in communication engineering from students' perspectives

    NASA Astrophysics Data System (ADS)

    Balakrishnan, B.; Woods, P. C.

    2013-05-01

    Over the years, rapid development in computer technology has engendered simulation-based laboratory (lab) in addition to the traditional hands-on (physical) lab. Many higher education institutions adopt simulation lab, replacing some existing physical lab experiments. The creation of new systems for conducting engineering lab activities has raised concerns among educators on the merits and shortcomings of both physical and simulation labs; at the same time, many arguments have been raised on the differences of both labs. Investigating the effectiveness of both labs is complicated, as there are multiple factors that should be considered. In view of this challenge, a study on students' perspectives on their experience related to key aspects on engineering laboratory exercise was conducted. In this study, the Visual Auditory Read and Kinetic model was utilised to measure the students' cognitive styles. The investigation was done through a survey among participants from Multimedia University, Malaysia. The findings revealed that there are significant differences for most of the aspects in physical and simulation labs.

  5. Are Endothelial Progenitor Cells the Real Solution for Cardiovascular Diseases? Focus on Controversies and Perspectives

    PubMed Central

    Balistreri, Carmela R.; Buffa, Silvio; Pisano, Calogera; Lio, Domenico; Ruvolo, Giovanni; Mazzesi, Giuseppe

    2015-01-01

    Advanced knowledge in the field of stem cell biology and their ability to provide a cue for counteracting several diseases are leading numerous researchers to focus their attention on “regenerative medicine” as possible solutions for cardiovascular diseases (CVDs). However, the lack of consistent evidence in this arena has hampered the clinical application. The same condition affects the research on endothelial progenitor cells (EPCs), creating more confusion than comprehension. In this review, this aspect is discussed with particular emphasis. In particular, we describe biology and physiology of EPCs, outline their clinical relevance as both new predictive, diagnostic, and prognostic CVD biomarkers and therapeutic agents, discuss advantages, disadvantages, and conflicting data about their use as possible solutions for vascular impairment and clinical applications, and finally underline a very crucial aspect of EPCs “characterization and definition,” which seems to be the real cause of large heterogeneity existing in literature data on this topic. PMID:26509164

  6. Is the GSI anomaly due to neutrino oscillations? A real time perspective

    SciTech Connect

    Wu Jun; Boyanovsky, Daniel; Hutasoit, Jimmy A.; Holman, Richard

    2010-08-15

    We study a model for the 'GSI anomaly' in which we obtain the time evolution of the population of parent and daughter particles directly in real time, considering explicitly the quantum entanglement between the daughter particle and neutrino mass eigenstates in the two-body decay. We confirm that the decay rate of the parent particle and the growth rate of the daughter particle do not feature a time modulation from interference of neutrino mass eigenstates. The lack of interference is a consequence of the orthogonality of the mass eigenstates. This result also follows from the density matrix obtained by tracing out the unobserved neutrino states. We confirm this result by providing a complementary explanation based on Cutkosky rules applied to the Feynman diagram that describes the self energy of the parent particle.

  7. Are Endothelial Progenitor Cells the Real Solution for Cardiovascular Diseases? Focus on Controversies and Perspectives.

    PubMed

    Balistreri, Carmela R; Buffa, Silvio; Pisano, Calogera; Lio, Domenico; Ruvolo, Giovanni; Mazzesi, Giuseppe

    2015-01-01

    Advanced knowledge in the field of stem cell biology and their ability to provide a cue for counteracting several diseases are leading numerous researchers to focus their attention on "regenerative medicine" as possible solutions for cardiovascular diseases (CVDs). However, the lack of consistent evidence in this arena has hampered the clinical application. The same condition affects the research on endothelial progenitor cells (EPCs), creating more confusion than comprehension. In this review, this aspect is discussed with particular emphasis. In particular, we describe biology and physiology of EPCs, outline their clinical relevance as both new predictive, diagnostic, and prognostic CVD biomarkers and therapeutic agents, discuss advantages, disadvantages, and conflicting data about their use as possible solutions for vascular impairment and clinical applications, and finally underline a very crucial aspect of EPCs "characterization and definition," which seems to be the real cause of large heterogeneity existing in literature data on this topic. PMID:26509164

  8. Real or Artificial? Intergroup Biases in Mind Perception in a Cross-Cultural Perspective.

    PubMed

    Krumhuber, Eva G; Swiderska, Aleksandra; Tsankova, Elena; Kamble, Shanmukh V; Kappas, Arvid

    2015-01-01

    Recent research suggests that attributions of aliveness and mental capacities to faces are influenced by social group membership. In this article, we investigated group related biases in mind perception in participants from a Western and Eastern culture, employing faces of varying ethnic groups. In Experiment 1, Caucasian faces that ranged on a continuum from real to artificial were evaluated by participants in the UK (in-group) and in India (out-group) on animacy, abilities to plan and to feel pain, and having a mind. Human features were found to be assigned to a greater extent to faces when these belonged to in-group members, whereas out-group faces had to appear more realistic in order to be perceived as human. When participants in India evaluated South Asian (in-group) and Caucasian (out-group) faces in Experiment 2, the results closely mirrored those of the first experiment. For both studies, ratings of out-group faces were significantly predicted by participants' levels of ethnocultural empathy. The findings highlight the role of intergroup processes (i.e., in-group favoritism, out-group dehumanization) in the perception of human and mental qualities and point to ethnocultural empathy as an important factor in responses to out-groups. PMID:26360588

  9. Source modeling and inversion with near real-time GPS: a GITEWS perspective for Indonesia

    NASA Astrophysics Data System (ADS)

    Babeyko, A. Y.; Hoechner, A.; Sobolev, S. V.

    2010-07-01

    We present the GITEWS approach to source modeling for the tsunami early warning in Indonesia. Near-field tsunami implies special requirements to both warning time and details of source characterization. To meet these requirements, we employ geophysical and geological information to predefine a maximum number of rupture parameters. We discretize the tsunamigenic Sunda plate interface into an ordered grid of patches (150×25) and employ the concept of Green's functions for forward and inverse rupture modeling. Rupture Generator, a forward modeling tool, additionally employs different scaling laws and slip shape functions to construct physically reasonable source models using basic seismic information only (magnitude and epicenter location). GITEWS runs a library of semi- and fully-synthetic scenarios to be extensively employed by system testing as well as by warning center personnel teaching and training. Near real-time GPS observations are a very valuable complement to the local tsunami warning system. Their inversion provides quick (within a few minutes on an event) estimation of the earthquake magnitude, rupture position and, in case of sufficient station coverage, details of slip distribution.

  10. Real or Artificial? Intergroup Biases in Mind Perception in a Cross-Cultural Perspective

    PubMed Central

    Krumhuber, Eva G.; Swiderska, Aleksandra; Tsankova, Elena; Kamble, Shanmukh V.; Kappas, Arvid

    2015-01-01

    Recent research suggests that attributions of aliveness and mental capacities to faces are influenced by social group membership. In this article, we investigated group related biases in mind perception in participants from a Western and Eastern culture, employing faces of varying ethnic groups. In Experiment 1, Caucasian faces that ranged on a continuum from real to artificial were evaluated by participants in the UK (in-group) and in India (out-group) on animacy, abilities to plan and to feel pain, and having a mind. Human features were found to be assigned to a greater extent to faces when these belonged to in-group members, whereas out-group faces had to appear more realistic in order to be perceived as human. When participants in India evaluated South Asian (in-group) and Caucasian (out-group) faces in Experiment 2, the results closely mirrored those of the first experiment. For both studies, ratings of out-group faces were significantly predicted by participants’ levels of ethnocultural empathy. The findings highlight the role of intergroup processes (i.e., in-group favoritism, out-group dehumanization) in the perception of human and mental qualities and point to ethnocultural empathy as an important factor in responses to out-groups. PMID:26360588

  11. “Shielded from the Real World”: Perspectives on Internet Cancer Support Groups by Asian Americans

    PubMed Central

    Im, Eun-Ok; Lee, Bok Im; Chee, Wonshik

    2010-01-01

    Background Despite positive reports about Internet cancer support groups (ICSGs), ethnic minorities, including Asian Americans, have been reported to be less likely to use ICSGs. Unique cultural values, beliefs, and attitudes have been considered reasons for the low usage rate of ICSGs among Asian Americans. However, studies have rarely looked at this issue. Objective The purpose of this study was to explore (a) how Asian Americans living with cancer who participated in ICSGs viewed ICSGs, (b) what facilitated or inhibited their participation in ICSGs, and (c) what cultural values and beliefs influenced their participation in ICSGs. Methods The study was a one-month qualitative online forum among 18 Asian American cancer patients recruited through a convenience sampling method. Nine topics on the use of ICSGs organized the forum discussion, and the data were analyzed using thematic analysis. Results Four themes emerged from the data analysis process: (a) “more than just my family,” (b) “part of my family,” (c) “anonymous me,” and (d) “shielded from the real world.” Conclusions The overarching theme was Asian Americans’ marginalized experience in the use of Internet cancer support groups. Implications for Practice Offering the most current information on cancer and cancer treatment is essential for nursing practice in developing a culturally competent ICSG for Asian Americans. Also, emotional familiarity should be incorporated into the design of the ICSG, and the ICSG needs to be based on non-judgmental and non-discriminative interactions. PMID:20357657

  12. Rehabilitation Options

    MedlinePlus

    ... Speech Pathology Occupational Therapy Art Therapy Recreational therapy Neuropsychology Home Care Options Advanced Care Planning Palliative Care ... Speech Pathology Occupational Therapy Art Therapy Recreational therapy Neuropsychology Home Care Options Advanced Care Planning Palliative Care ...

  13. Pricing Options.

    ERIC Educational Resources Information Center

    Tenopir, Carol

    1998-01-01

    Presents results of a recent survey of over 100 public and academic libraries about pricing options from online companies. Most options fall into three categories: pay-as-you-go, fixed-rate, and user-based. Results are discussed separately for public and academic libraries and for consortial discounts. Trends in pricing options preferred by…

  14. Perspectives.

    ERIC Educational Resources Information Center

    Robertson, Shari; Camerini, Michael

    2001-01-01

    Provides background information on the U.S. Immigration and Naturalization Service Asylum office. Uses the perspective of two movie producers as they filmed a documentary film, "Well-founded Fear", about asylum and refugee protection. Includes information on how to order a classroom aid and the film. (CMK)

  15. Perspectives

    ERIC Educational Resources Information Center

    Tarone, Elaine

    2013-01-01

    The topic of this "Perspectives" column is "Requiring a Proficiency Level as a Requirement for U.S. K-12 Teacher Licensure." In 1998, the American Council of Teachers of Foreign Languages (ACTFL) began to work with the National Council for Accreditation of Teacher Education (NCATE), which accredits teacher education programs…

  16. Multi-Perspective Indexing of Diverse Spatial Characteristics of an Outdoor Field toward Redesigning of Real-World Learning

    ERIC Educational Resources Information Center

    Okada, Masaya; Tada, Masahiro

    2014-01-01

    Real-world learning is important because it encourages learners to obtain knowledge through various experiences. To design effective real-world learning, it is necessary to analyze the diverse learning activities that occur in real-world learning and to develop effective strategies for learning support. By inventing the technologies of multimodal…

  17. Expensing options solves nothing.

    PubMed

    Sahlman, William A

    2002-12-01

    The use of stock options for executive compensation has become a lightning rod for public anger, and it's easy to see why. Many top executives grew hugely rich on the back of the gains they made on their options, profits they've been able to keep even as the value they were supposed to create disappeared. The supposed scam works like this: Current accounting regulations let companies ignore the cost of option grants on their income statements, so they can award valuable option packages without affecting reported earnings. Not charging the cost of the grants supposedly leads to overstated earnings, which purportedly translate into unrealistically high share prices, permitting top executives to realize big gains when they exercise their options. If an accounting anomaly is the problem, then the solution seems obvious: Write off executive share options against the current year's revenues. The trouble is, Sahlman writes, expensing option grants won't give us a more accurate view of earnings, won't add any information not already included in the financial statements, and won't even lead to equal treatment of different forms of executive pay. Far worse, expensing evades the real issue, which is whether compensation (options and other-wise) does what it's supposed to do--namely, help a company recruit, retain, and provide the right people with appropriate performance incentives. Any performance-based compensation system has the potential to encourage cheating. Only ethical management, sensible governance, adequate internal control systems, and comprehensive disclosure will save the investor from disaster. If, Sahlman warns, we pass laws that require the expensing of options, thinking that's fixed the fundamental flaws in corporate America's accounting, we will have missed a golden opportunity to focus on the much more extensive defects in the present system. PMID:12510541

  18. 32 CFR 644.168 - Exercise of options.

    Code of Federal Regulations, 2010 CFR

    2010-07-01

    ... 32 National Defense 4 2010-07-01 2010-07-01 true Exercise of options. 644.168 Section 644.168... Exercise of options. Upon issuance of a real estate directive for acquisition of the optioned real property, the District or Division Engineer will exercise the option and proceed with the acquisition...

  19. 32 CFR 644.168 - Exercise of options.

    Code of Federal Regulations, 2014 CFR

    2014-07-01

    ... 32 National Defense 4 2014-07-01 2013-07-01 true Exercise of options. 644.168 Section 644.168... Exercise of options. Upon issuance of a real estate directive for acquisition of the optioned real property, the District or Division Engineer will exercise the option and proceed with the acquisition...

  20. 32 CFR 644.168 - Exercise of options.

    Code of Federal Regulations, 2013 CFR

    2013-07-01

    ... 32 National Defense 4 2013-07-01 2013-07-01 false Exercise of options. 644.168 Section 644.168... Exercise of options. Upon issuance of a real estate directive for acquisition of the optioned real property, the District or Division Engineer will exercise the option and proceed with the acquisition...

  1. 32 CFR 644.168 - Exercise of options.

    Code of Federal Regulations, 2011 CFR

    2011-07-01

    ... 32 National Defense 4 2011-07-01 2011-07-01 false Exercise of options. 644.168 Section 644.168... Exercise of options. Upon issuance of a real estate directive for acquisition of the optioned real property, the District or Division Engineer will exercise the option and proceed with the acquisition...

  2. 32 CFR 644.168 - Exercise of options.

    Code of Federal Regulations, 2012 CFR

    2012-07-01

    ... 32 National Defense 4 2012-07-01 2011-07-01 true Exercise of options. 644.168 Section 644.168... Exercise of options. Upon issuance of a real estate directive for acquisition of the optioned real property, the District or Division Engineer will exercise the option and proceed with the acquisition...

  3. Katimavik Options.

    ERIC Educational Resources Information Center

    Crelinsten, Michael; And Others

    Designed for students who are just about to complete Katimavik (a nine-month volunteer community service and experiential learning program for 17 to 21-year-old Canadian youth), the bilingual information guide presents facts and considerations about options in lifestyle, academic attainment, and career goals available as a result of Katimavik…

  4. Exercising options

    NASA Astrophysics Data System (ADS)

    Carlowicz, Michael

    In a recent speech to graduates of the College of Computer, Mathematical, and Physical Sciences at the University of Maryland, Anne Petersen, deputy director of the National Science Foundation, encouraged a new generation of scientists to embrace opportunity and choice, and to use their scientific training as an employment credential, not a limit. In her May 23 commencement address, Petersen exhorted students to view their freshly minted diplomas as tickets to a broad and diverse job market, not just one-way trips to the laboratory.“Looking for the options and alternatives open to us—and creating options for ourselves where they are not apparent—can give us a sense of direction and volition that enriches our lives immensely…

  5. Novel operative treatment options.

    PubMed

    Ricketts, D N J; Pitts, N B

    2009-01-01

    There are an increasing number of more novel options available for operative intervention. This chapter outlines a series of operative treatment options which are available to the modern clinician to select from once a decision has been made to treat a carious lesion operatively. A series of novel methods of caries removal have been described; including chemomechanical caries removal, air abrasion, sono-abrasion, polymer rotary burs and lasers. There are also novel approaches to ensure complete caries removal and novel approaches for the management of deep caries. A novel question increasingly asked by clinicians is: does all the caries need to be removed? Operative management options here include: therapeutic fissure sealants, ultraconservative caries removal, stepwise excavation and the Hall technique. In conclusion, there is now a growing wealth of evidence that questions the traditional methods of caries removal and restoring the tooth. In parallel, there is a growing movement exploring the merits of therapeutically sealing caries into the tooth. This philosophy is alien to many of today's dentists and, until further randomized controlled trials are carried out in primary care, prudent caution must be exercised with this promising approach. Research is required into techniques which will allow monitoring of sealed caries to detect any rare, but insidious, failures. These novel techniques are an alternative way of managing the later stages of the caries process from a sounder biological basis and have marked potential benefits to patients from treatment, pain and outcome perspectives. PMID:19494685

  6. "I always viewed this as the real psychiatry": provider perspectives on community psychiatry as a career of first choice.

    PubMed

    Carpenter-Song, Elizabeth; Torrey, William C

    2015-04-01

    The US needs engaged and skilled psychiatrists to support the recovery of people with severe mental illnesses and we are currently facing a shortage. This paper examines what attracts providers to community psychiatry and what sustains them in their work. Focus groups and interviews were used to elicit the perspectives of prescribing clinicians in three community mental health clinics in the US. Community psychiatry has inherent challenges, including facing high-risk decisions, encountering intense affects, and occasionally witnessing bad outcomes. Psychiatrists are motivated and sustained in this work by (1) cultivating relationships with patients and colleagues, (2) focusing on the mission of promoting recovery, and (3) engaging with clinical practice as intellectually stimulating work. Administrators support the engagement and morale of psychiatrists by creating workflows that allow psychiatrists to meaningfully apply their expertise to support patients' recovery. These findings hold implications for recruiting and retaining a new generation of physicians. PMID:24989962

  7. Treatment Options for Age-Related Macular Degeneration: A Budget Impact Analysis from the Perspective of the Brazilian Public Health System

    PubMed Central

    Elias, Flávia Tavares Silva; da Silva, Everton Nunes; Belfort, Rubens; Silva, Marcus Tolentino; Atallah, Álvaro Nagib

    2015-01-01

    Background Age-related macular degeneration (AMD) is a disease that causes reduced visual acuity and blindness. The new treatment options for AMD are not provided by the Brazilian public health system. Objective To conduct a budget impact analysis of three scenarios for the introduction of AMD treatments: all the medications (verteporfin, ranibizumab, and bevacizumab–the reference scenario), ranibizumab alone, and bevacizumab alone. Methods The basic assumption was that the Brazilian public health system would treat the entire target population with AMD aged > 70 years between 2008 and 2011. The size of the population of interest was estimated from official population projections and the prevalence of the disease was obtained from a systematic review. Medication prices were estimated by weighting their market values with correction factors to take account of the public procurement policy. The possibility of aliquoting bevacizumab was also considered. A panel of experts was consulted to estimate the market share of the different medications for the reference scenario. The incremental costs of the ranibizumab-alone and bevacizumab-alone scenarios compared to the reference scenario were calculated. Univariate sensitivity analyses were run to check the robustness of the model. Results In four years, the Brazilian public health system would have treated 1,136,349 individuals with AMD. The annual costs of treating one patient would have been US$476.65 for bevacizumab, US$11,469.39 for ranibizumab, and US$4,376.28 for verteporfin. The incremental cost of the ranibizumab-alone scenario would have been US$1,878,318,056.00 in four years, while the incremental cost for the bevacizumab-alone scenario would have been a reduction of US$4,978,326,359.00 (i.e., a cost saving) in the same period. The bevacizumab-alone option was found to represent a cost saving across sensitivity analyses. Conclusion The introduction of bevacizumab for the treatment of AMD is recommended for the

  8. Patients' Perspectives on Wait Times and the Referral-Consultation Process While Attending a Tertiary Diabetes and Endocrinology Centre: Is Econsultation an Acceptable Option?

    PubMed

    Keely, Erin; Traczyk, Lara; Liddy, Clare

    2015-08-01

    The goal of this study was to establish patients' perspectives on the acceptability of wait times, the impact of wait times on their health and the possibility of using electronic consultations (eConsultations) to avoid visits to specialists. A 2-stage patient survey (self-administered and with a follow-up telephone call) and a chart audit was conducted on a sequential sample of patients attending their initial consultations in a tertiary diabetes and endocrinology centre. Patients' perspectives on actual and ideal wait times, the impact of waiting for access, the effectiveness of the referral-consultation process and attitudes toward eConsultations as an alternative to traditional referral-consultations were collected. The study involved 101 patients (22% for diabetes, 78% for endocrinologic conditions), whose comments were collated and categorized. Of the 101 patients who completed the survey, 61 also completed telephone interviews. The average wait time was 19 weeks; the median 10 weeks. More than 30% of patients waited longer than 6 months and 6% waited longer than 1 year. Overall, 90% of patients thought that the maximum wait time should be less than 3 months. While waiting, 58% of patients worried about a serious undiagnosed disease, 30% found their symptoms had affected their daily activities and 24% had to miss work or school due to symptoms. Of the patients, 46% considered eConsultation a viable alternative to face-to-face visits. Excessive wait times for specialist care remain barriers and have negative impacts on patients. Wait times significantly exceeded times patients considered acceptable. eConsultations provide acceptable alternatives for many patients, and they reduced the number of patients requiring traditional consultations. PMID:25797111

  9. Mixed waste management options

    SciTech Connect

    Owens, C.B.; Kirner, N.P.

    1991-12-31

    Disposal fees for mixed waste at proposed commercial disposal sites have been estimated to be $15,000 to $40,000 per cubit foot. If such high disposal fees are imposed, generators may be willing to apply extraordinary treatment or regulatory approaches to properly dispose of their mixed waste. This paper explores the feasibility of several waste management scenarios and attempts to answer the question: Can mixed waste be managed out of existence? Existing data on commercially generated mixed waste streams are used to identify the realm of mixed waste known to be generated. Each waste stream is evaluated from both a regulatory and technical perspective in order to convert the waste into a strictly low-level radioactive or a hazardous waste. Alternative regulatory approaches evaluated in this paper include a delisting petition, no migration petition, and a treatability variance. For each waste stream, potentially available treatment options are identified that could lead to these variances. Waste minimization methodology and storage for decay are also considered. Economic feasibility of each option is discussed broadly.

  10. 41 CFR 102-73.130 - When may Federal agencies consider acquiring leases with purchase options?

    Code of Federal Regulations, 2011 CFR

    2011-01-01

    ... REGULATION REAL PROPERTY 73-REAL ESTATE ACQUISITION Acquisition by Lease Leases with Purchase Options § 102... consider leasing with a purchase option at or below fair market value, consistent with the...

  11. The IRIS DMC: Perspectives on Real-Time Data Management and Open Access From a Large Seismological Archive: Challenges, Tools, and Quality Assurance

    NASA Astrophysics Data System (ADS)

    Benson, R. B.

    2007-05-01

    The IRIS Data Management Center, located in Seattle, WA, is the largest openly accessible geophysical archive in the world, and has a unique perspective on data management and operational practices that gets the most out of your network. Networks scale broad domains in time and space, from finite needs to monitor bridges and dams to national and international networks like the GSN and the FDSN that establish a baseline for global monitoring and research, the requirements that go into creating a well-tuned DMC archive treat these the same, building a collaborative network of networks that generations of users rely on and adds value to the data. Funded by the National Science Foundation through the Division of Earth Sciences, IRIS is operated through member universities and in cooperation with the USGS, and the DMS facility is a bridge between a globally distributed collaboration of seismic networks and an equally distributed network of users that demand a high standard for data quality, completeness, and ease of access. I will describe the role that a perpetual archive has in the life cycle of data, and how hosting real-time data performs a dual role of being a hub for continuous data from approximately 59 real-time networks, and distributing these (along with other data from the 40-year library of available time-series data) to researchers, while simultaneously providing shared data back to networks in real- time that benefits monitoring activities. I will describe aspects of our quality-assurance framework that are both passively and actively performed on 1100 seismic stations, generating over 6,000 channels of regularly sampled data arriving daily, that data providers can use as aids in operating their network, and users can likewise use when requesting suitable data for research purposes. The goal of the DMC is to eliminate bottlenecks in data discovery and shortening the steps leading to analysis. This includes many challenges, including keeping metadata

  12. Achondroplasia: Current Options and Future Perspective.

    PubMed

    Bouali, Houda; Latrech, Hanane

    2015-06-01

    Achondroplasia is a human bone genetic disorder of the growth plate and is the most common form of inherited disproportionate short stature. It is inherited as an autosomal dominant disease with essentially complete penetrance. Of these most have the same point mutation in the gene for fibroblast growth factor receptor 3 (FGFR3) which is a negative regulator of bone growth. The clinical and radiological features of achondroplasia can easily be identified; they include disproportionate short stature with rhizomelic shortening, macrocephaly with frontal bossing, midface hypoplasia, lumbar hyperlordosis, and a trident hand configuration. The majority of achondroplasts have a normal intelligence, but many social and medical complications may compromise a full and productive life. Some of them have serious health consequences related to hydrocephalus, craniocervical junction compression, or upper-airway obstruction. In this article, we discuss a number of treatments from the surgical limb lengthening approach and the Recombinant Growth Hormone (rhGH) treatment, to future treatments, which include the Natriuretic Peptide C-type (CNP). The discussion is a comparative study of the complications and drawbacks of various experiments using numerous strategies. PMID:26182483

  13. MAX: A space station computer option

    NASA Technical Reports Server (NTRS)

    Smith, D. B.; Rasmussen, R. D.

    1985-01-01

    Information on Max, a space station computer option, is given in viewgraph form. The computer option is characterized by embedded, real-time applications; synchronous, cyclic operation and asynchronous, event driven operation; computationally intensive and data intensive processing; a wide range of throughput and memory requirements; a range of fault tolerant requirements from none to full; and maintainability, including capability for on-line substitution in critical systems.

  14. Breast Cancer: Treatment Options

    MedlinePlus

    ... Cancer - Treatment Options Request Permissions Print to PDF Breast Cancer - Treatment Options Approved by the Cancer.Net Editorial ... recommendations for ovarian ablation . Hormonal therapy for metastatic breast cancer Hormonal therapies are also commonly used to treat ...

  15. Where's Our Real Teacher?

    ERIC Educational Resources Information Center

    Ferrara, Peter J.; Ferrara, Margaret M.

    1993-01-01

    Guest teachers are not sanctioned counterfeits of "real" teachers; they are optional community resources who can provide an additional, meaningful dimension to students' learning. This article provides administrators with recommendations for welcoming substitutes, familiarizing them with school schedules and lesson plans, and helping them work…

  16. Towards the Real-Time Evaluation of Collaborative Activities: Integration of an Automatic Rater of Collaboration Quality in the Classroom from the Teacher's Perspective

    ERIC Educational Resources Information Center

    Chounta, Irene-Angelica; Avouris, Nikolaos

    2016-01-01

    This paper presents the integration of a real time evaluation method of collaboration quality in a monitoring application that supports teachers in class orchestration. The method is implemented as an automatic rater of collaboration quality and studied in a real time scenario of use. We argue that automatic and semi-automatic methods which…

  17. TANK SPACE OPTIONS REPORT

    SciTech Connect

    WILLIS WL; AHRENDT MR

    2009-08-11

    Since this report was originally issued in 2001, several options proposed for increasing double-shell tank (DST) storage space were implemented or are in the process of implementation. Changes to the single-shell tank (SST) waste retrieval schedule, completion of DST space saving options, and the DST space saving options in progress have delayed the projected shortfall of DST storage space from the 2007-2011 to the 2018-2025 timeframe (ORP-11242, River Protection Project System Plan). This report reevaluates options from Rev. 0 and includes evaluations of new options for alleviating projected restrictions on SST waste retrieval beginning in 2018 because of the lack of DST storage space.

  18. 48 CFR 570.401 - Renewal options.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 48 Federal Acquisition Regulations System 4 2010-10-01 2010-10-01 false Renewal options. 570.401 Section 570.401 Federal Acquisition Regulations System GENERAL SERVICES ADMINISTRATION SPECIAL CONTRACTING PROGRAMS ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY Special Aspects of Contracting for Continued...

  19. 48 CFR 570.401 - Renewal options.

    Code of Federal Regulations, 2011 CFR

    2011-10-01

    ... 48 Federal Acquisition Regulations System 4 2011-10-01 2011-10-01 false Renewal options. 570.401 Section 570.401 Federal Acquisition Regulations System GENERAL SERVICES ADMINISTRATION SPECIAL CONTRACTING PROGRAMS ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY Special Aspects of Contracting for Continued...

  20. 48 CFR 570.401 - Renewal options.

    Code of Federal Regulations, 2014 CFR

    2014-10-01

    ... 48 Federal Acquisition Regulations System 4 2014-10-01 2014-10-01 false Renewal options. 570.401 Section 570.401 Federal Acquisition Regulations System GENERAL SERVICES ADMINISTRATION SPECIAL CONTRACTING PROGRAMS ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY Special Aspects of Contracting for Continued...

  1. 48 CFR 570.401 - Renewal options.

    Code of Federal Regulations, 2012 CFR

    2012-10-01

    ... 48 Federal Acquisition Regulations System 4 2012-10-01 2012-10-01 false Renewal options. 570.401 Section 570.401 Federal Acquisition Regulations System GENERAL SERVICES ADMINISTRATION SPECIAL CONTRACTING PROGRAMS ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY Special Aspects of Contracting for Continued...

  2. 48 CFR 570.401 - Renewal options.

    Code of Federal Regulations, 2013 CFR

    2013-10-01

    ... 48 Federal Acquisition Regulations System 4 2013-10-01 2013-10-01 false Renewal options. 570.401 Section 570.401 Federal Acquisition Regulations System GENERAL SERVICES ADMINISTRATION SPECIAL CONTRACTING PROGRAMS ACQUIRING LEASEHOLD INTERESTS IN REAL PROPERTY Special Aspects of Contracting for Continued...

  3. Real Earthquakes, Real Learning

    ERIC Educational Resources Information Center

    Schomburg, Aaron

    2003-01-01

    One teacher took her class on a year long earthquake expedition. The goal was to monitor the occurrences of real earthquakes during the year and mark their locations with push pins on a wall-sized world map in the hallway outside the science room. The purpose of the project was to create a detailed picture of the earthquakes that occurred…

  4. Approximate option pricing

    SciTech Connect

    Chalasani, P.; Saias, I.; Jha, S.

    1996-04-08

    As increasingly large volumes of sophisticated options (called derivative securities) are traded in world financial markets, determining a fair price for these options has become an important and difficult computational problem. Many valuation codes use the binomial pricing model, in which the stock price is driven by a random walk. In this model, the value of an n-period option on a stock is the expected time-discounted value of the future cash flow on an n-period stock price path. Path-dependent options are particularly difficult to value since the future cash flow depends on the entire stock price path rather than on just the final stock price. Currently such options are approximately priced by Monte carlo methods with error bounds that hold only with high probability and which are reduced by increasing the number of simulation runs. In this paper the authors show that pricing an arbitrary path-dependent option is {number_sign}-P hard. They show that certain types f path-dependent options can be valued exactly in polynomial time. Asian options are path-dependent options that are particularly hard to price, and for these they design deterministic polynomial-time approximate algorithms. They show that the value of a perpetual American put option (which can be computed in constant time) is in many cases a good approximation to the value of an otherwise identical n-period American put option. In contrast to Monte Carlo methods, the algorithms have guaranteed error bounds that are polynormally small (and in some cases exponentially small) in the maturity n. For the error analysis they derive large-deviation results for random walks that may be of independent interest.

  5. The Origins of Options

    PubMed Central

    Smaldino, Paul E.; Richerson, Peter J.

    2012-01-01

    Most research on decision making has focused on how human or animal decision makers choose between two or more options, posed in advance by the researchers. The mechanisms by which options are generated for most decisions, however, are not well understood. Models of sequential search have examined the trade-off between continued exploration and choosing one’s current best option, but still cannot explain the processes by which new options are generated. We argue that understanding the origins of options is a crucial but untapped area for decision making research. We explore a number of factors which influence the generation of options, which fall broadly into two categories: psycho-biological and socio-cultural. The former category includes factors such as perceptual biases and associative memory networks. The latter category relies on the incredible human capacity for culture and social learning, which doubtless shape not only our choices but the options available for choice. Our intention is to start a discussion that brings us closer toward understanding the origins of options. PMID:22514515

  6. How to choose the right capitalization option.

    PubMed

    Vaughan, J; Wise, J

    1996-12-01

    Physician group practices and networks must have ready access to capital to finance their working capital needs, capital equipment acquisitions, and real estate purchases, as well as to fund the acquisition of additional practices. At least three options for capitalization are available to group practices and networks: debt financing, equity financing, or a combination of the two. The best option for physician group practices and networks depends on the costs of capital and the impact the strategy will have on decision making and governance. PMID:10163009

  7. Yale's Tuition Postponement Option

    ERIC Educational Resources Information Center

    Curran, William E.

    1973-01-01

    Discusses Yale's Tuition Postponement Option which bases a student's repayment obligation on the student's future income. Under this system, some students will pay Yale less than the amounts they postponed plus interest and some will pay more. (JF)

  8. Porphyria Treatment Options

    MedlinePlus

    ... only. For treatment options for Porphyria Cutanea Tarda (PCT) , Congenital Erythropoietic Protoporphyria (CEP) and Hepatoerythropoietic Porphyria (HEP) ... Contact Us About Porphyria AIP VP HCP ADP PCT EPP CEP HEP Diet and Nutrition History of ...

  9. Nevada Transportatoion Options Study

    SciTech Connect

    P. GEHNER; E.M. WEAVER; L. FOSSUM

    2006-05-25

    This study performs a cost and schedule analysis of three Nevada Transportation options that support waste receipt at the repository. Based on the U.S. Department of Energy preference for rail transportation in Nevada (given in the Final Environmental Impact Statement), it has been assumed that a branch rail line would be constructed to support waste receipt at the repository. However, due to potential funding constraints, it is uncertain when rail will be available. The three Nevada Transportation options have been developed to meet a varying degree of requirements for transportation and to provide cost variations used in meeting the funding constraints given in the Technical Direction Letter guidelines for this study. The options include combinations of legal-weight truck, heavy-haul truck, and rail. Option 1 uses a branch rail line that would support initial waste receipt at the repository in 2010. Rail transportation would be the primary mode, supplemented by legal weight trucks. This option provides the highest level of confidence in cost and schedule, lowest public visibility, greatest public acceptability, lowest public dose, and is the recommended option for support of waste receipt. The completion of rail by 2010 will require spending approximately $800 million prior to 2010. Option 2 uses a phased rail approach to address a constrained funding scenario. To meet funding constraints, Option 2 uses a phased approach to delay high cost activities (final design and construction) until after initial waste receipt in 2010. By doing this, approximately 95 percent of the cost associated with completion of a branch rail line is deferred until after 2010. To support waste receipt until a branch rail line is constructed in Nevada, additional legal-weight truck shipments and heavy-haul truck shipments (on a limited basis for naval spent nuclear fuel) would be used to meet the same initial waste receipt rates as in Option 1. Use of heavy-haul shipments in the absence

  10. Options Study - Phase II

    SciTech Connect

    R. Wigeland; T. Taiwo; M. Todosow; W. Halsey; J. Gehin

    2010-09-01

    The Options Study has been conducted for the purpose of evaluating the potential of alternative integrated nuclear fuel cycle options to favorably address the issues associated with a continuing or expanding use of nuclear power in the United States. The study produced information that can be used to inform decisions identifying potential directions for research and development on such fuel cycle options. An integrated nuclear fuel cycle option is defined in this study as including all aspects of the entire nuclear fuel cycle, from obtaining natural resources for fuel to the ultimate disposal of used nuclear fuel (UNF) or radioactive wastes. Issues such as nuclear waste management, especially the increasing inventory of used nuclear fuel, the current uncertainty about used fuel disposal, and the risk of nuclear weapons proliferation have contributed to the reluctance to expand the use of nuclear power, even though it is recognized that nuclear power is a safe and reliable method of producing electricity. In this Options Study, current, evolutionary, and revolutionary nuclear energy options were all considered, including the use of uranium and thorium, and both once-through and recycle approaches. Available information has been collected and reviewed in order to evaluate the ability of an option to clearly address the challenges associated with the current implementation and potential expansion of commercial nuclear power in the United States. This Options Study is a comprehensive consideration and review of fuel cycle and technology options, including those for disposal, and is not constrained by any limitations that may be imposed by economics, technical maturity, past policy, or speculated future conditions. This Phase II report is intended to be used in conjunction with the Phase I report, and much information in that report is not repeated here, although some information has been updated to reflect recent developments. The focus in this Options Study was to

  11. Processing PCM Data in Real Time

    NASA Technical Reports Server (NTRS)

    Wissink, T. L.

    1982-01-01

    Novel hardware configuration makes it possible for Space Shuttle launch processing system to monitor pulse-code-modulated data in real time. Using two microprogramable "option planes," incoming PCM data are monitored for changes at rate of one frame of data (80 16-bit words) every 10 milliseconds. Real-time PCM processor utilizes CPU in mini-computer and CPU's in two option planes.

  12. Real-time and Label-free Bio-sensing of Molecular Interactions by Surface Plasmon Resonance: A Laboratory Medicine Perspective

    PubMed Central

    Helmerhorst, Erik; Chandler, David J; Nussio, Matt; Mamotte, Cyril D

    2012-01-01

    Radioactive, chromogenic, fluorescent and other labels have long provided the basis of detection systems for biomolecular interactions including immunoassays and receptor binding studies. However there has been unprecedented growth in a number of powerful label free biosensor technologies over the last decade. While largely at the proof-of-concept stage in terms of clinical applications, the development of more accessible platforms may see surface plasmon resonance (SPR) emerge as one of the most powerful optical detection platforms for the real-time monitoring of biomolecular interactions in a label-free environment. In this review, we provide an overview of SPR principles and current and future capabilities in a diagnostic context, including its application for monitoring a wide range of molecular markers of disease. The advantages and pitfalls of using SPR to study biomolecular interactions are discussed, with particular emphasis on its potential to differentiate subspecies of analytes and the inherent ability for quantitation through calibration-free concentration analysis (CFCA). In addition, recent advances in multiplex applications, high throughput arrays, miniaturisation, and enhancements using noble metal nanoparticles that promise unprecedented sensitivity to the level of single molecule detection, are discussed. In summary, while SPR is not a new technique, technological advances may see SPR quickly emerge as a highly powerful technology, enabling rapid and routine analysis of molecular interactions for a diverse range of targets, including those with clinical applicability. As the technology produces data quickly, in real-time and in a label-free environment, it may well have a significant presence in future developments in lab-on-a-chip technologies including point-of-care devices and personalised medicine. PMID:23267248

  13. Thermal test options

    SciTech Connect

    Koski, J.A.; Keltner, N.R.; Sobolik, K.B.

    1993-02-01

    Shipping containers for radioactive materials must be qualified to meet a thermal accident environment specified in regulations, such at Title 10, Code of Federal Regulations, Part 71. Aimed primarily at the shipping container design, this report discusses the thermal testing options available for meeting the regulatory requirements, and states the advantages and disadvantages of each approach. The principal options considered are testing with radiant heat, furnaces, and open pool fires. The report also identifies some of the facilities available and current contacts. Finally, the report makes some recommendations on the appropriate use of these different testing methods.

  14. Lighting Options for Homes.

    SciTech Connect

    Baker, W.S.

    1991-04-01

    This report covers many aspects of various lighting options for homes. Types of light sources described include natural light, artificial light, incandescent lamps, fluorescent lamps, and high intensity discharge lamps. A light source selection guide gives the physical characteristics of these, design considerations, and common applications. Color, strategies for efficient lighting, and types of lighting are discussed. There is one section giving tips for various situations in specific rooms. Rooms and types of fixtures are shown on a matrix with watts saved by using the recommended type lighting for that room and room location. A major emphasis of this report is saving energy by utilizing the most suitable, recommended lighting option. (BN)

  15. Interactivity in Multimedia: Reconsidering Our Perspective.

    ERIC Educational Resources Information Center

    Zazelenchuk, Todd W.

    1997-01-01

    Reviews perspectives on closed (nonnetworked) multimedia systems, identifies characteristics of meaningful interactions, and outlines some basic considerations for designers of interactive multimedia instruction. Highlights include active learning environments; learner control; feedback; learner response options; adaptability; and engagement and…

  16. Pectus excavatum: history, hypotheses and treatment options

    PubMed Central

    Brochhausen, Christoph; Turial, Salmai; Müller, Felix K.P.; Schmitt, Volker H.; Coerdt, Wiltrud; Wihlm, Jean-Marie; Schier, Felix; Kirkpatrick, C. James

    2012-01-01

    Pectus excavatum and pectus carinatum represent the most frequent chest wall deformations. However, the pathogenesis is still poorly understood and research results remain inconsistent. To focus on the recent state of knowledge, we summarize and critically discuss the pathological concepts based on the history of these entities, beginning with the first description in the sixteenth century. Based on the early clinical descriptions, we review and discuss the different pathogenetic hypotheses. To open new perspectives for the potential pathomechanisms, the embryonic and foetal development of the ribs and the sternum is highlighted following the understanding that the origin of these deformities is given by the disruption in the maturation of the parasternal region. In the second, different therapeutical techniques are highlighted and based on the pathogenetic hypotheses and the embryological knowledge potential new biomaterial-based perspectives with interesting insights for tissue engineering-based treatment options are presented. PMID:22394989

  17. Yale Tuition Postponement Option.

    ERIC Educational Resources Information Center

    Yale Univ., New Haven, CT. Office of the President.

    This paper offers a detailed explanation of Yale University's tuition postponement option. The purposes of the Plan are: (1) to enable students to defer part of the expense of education; (2) to enable students to contribute to the support of the University in approximate proportion to their ability to do so and to the economic benefit they have…

  18. Idaho's Energy Options

    SciTech Connect

    Robert M. Neilson

    2006-03-01

    This report, developed by the Idaho National Laboratory, is provided as an introduction to and an update of the status of technologies for the generation and use of energy. Its purpose is to provide information useful for identifying and evaluating Idaho’s energy options, and for developing and implementing Idaho’s energy direction and policies.

  19. ARSENIC TREATMENT OPTIONS

    EPA Science Inventory

    The PPT presentation will provide information on the drinking water treatment options for small utilities to remove arsenic from ground water. The discussion will include information on the EPA BAT listed processes and on some of the newer technologies, such as the iron based ad...

  20. Options in Suicidal Crisis

    ERIC Educational Resources Information Center

    Steenland, Roger

    1973-01-01

    This article briefly outlines possible causes for the prevalence of suicide attempts among college students and then discusses various options for handling such crises: whether to notify the students' closest relatives, whether to obtain medical evaluation and treatment (as opposed to psychological counseling), and whether to allow the student to…

  1. Career Options in Chemistry.

    ERIC Educational Resources Information Center

    Belloli, Robert C.

    1985-01-01

    Describes a credit/no credit course which focuses on career options in chemistry. The course (consisting of 15 one-hour seminar-type sessions) includes guest speakers for several sessions and an emphasis (in introductory sessions) on graduate school in chemistry, the chemical industry, resumes, and interviews. Also briefly describes an internship…

  2. Alternative Education Options.

    ERIC Educational Resources Information Center

    Little (Arthur D.), Inc., Washington, DC.

    This guide deals with various areas of alternative education programs, including current practices and different options available to school and community personnel. Steps are outlined to assess present educational settings, design new programs, select the participants, and implement and evaluate the new program. The first appendix contains…

  3. Postsecondary Enrollment Options Programs.

    ERIC Educational Resources Information Center

    Michelau, Demaree K.

    2001-01-01

    Many states are beginning to notice discontinuities in policy between the K-12 and higher education systems. One approach to easing the high school to college transition is to establish postsecondary enrollment options (PSEO) programs. Currently, 32 states have laws or recently have passed legislation to establish and govern PSEO programs. The…

  4. Our Energy Options.

    ERIC Educational Resources Information Center

    Meyers, Paul A.; Witt, Frank C.

    Presented is an analysis of alternatives available to the United States in dealing with energy problems. Options explained and evaluated include coal, solar, hydroelectric, nuclear, geothermal, wind, biomass, and energy conservation. The booklet is part of Project APEC (America's Possible Energy Choices), a nationally validated Title IVc project…

  5. CFB repowering options

    SciTech Connect

    Gittinger, J.

    1996-12-31

    Circulating fluidized bed CFB repowering options are summarized. The following topics are discussed: why repower with CFB technology; advantages of repowering; two forms of of repowering; B and N`s internal recirculation CFB; space-saving design features; cost-saving design features; Ukrainian repowering project; and candidates for repowering.

  6. Real Language Meets Real Business

    ERIC Educational Resources Information Center

    Muirhead, Muirhead; Schechter, Sarah

    2016-01-01

    The Real Business Language Challenge was a collaborative pilot project between Coca-Cola Enterprises (CCE) and Routes into Languages East for Year 9 and 10 pupils. It was based on CCE's award-winning Real Business Challenge, part of its highly acclaimed education programme. The Real Business Language Challenge transformed the project into a…

  7. Osteoporosis: Therapeutic Options.

    PubMed

    Ivanova, Stefka; Vasileva, Liliya; Ivanova, Stanislava; Peikova, Lily; Obreshkova, Danka

    2016-01-01

    The definition of osteoporosis was originally formulated at a conference of the World Health Organization (WHO) in 1993 as 'a systemic skeletal disease characterized by decreased bone mass and altered micro-architecture of bone tissue, leading to enhanced bone fragility and risk of fractures'. Osteoporosis is characterized by low bone mineral density (BMD) and loss of the structural and bio-mechanical properties that are required to maintain bone homeostasis. This review aims to address the currently available options in prevention and treatment of osteoporosis. Management of osteoporosis includes non-pharmacological treatment - diet rich of calcium and vitamin D, healthy lifestyle, proper exercise plan, and pharmacological therapy. Combination of non-pharmacological and pharmacological treatment options have to be considered for prevention of osteoporosis and minimization of the risk of fractures. Given the heterogeneity of osteoporosis syndrome and lack of significant number of comparative studies, the choice of a pharmacological agents should be individualized. PMID:27180344

  8. Information technology financing options.

    PubMed

    Rai, D

    1996-01-01

    Healthcare executives facing the challenges of delivering quality care and controlling costs must consider the role information technology systems can play in meeting those challenges. To make the best use of information system expenditures, organizations must carefully plan how to finance system acquisitions. Some options that should be considered are paying cash, financing, financing "soft" costs, leasing, credit warehousing and early acceptance financing, and tax-exempt and conduit financing. PMID:10154097

  9. The safeguards options study

    SciTech Connect

    Hakkila, E.A.; Mullen, M.F.; Olinger, C.T.; Stanbro, W.D.; Olsen, A.P.; Roche, C.T.; Rudolph, R.R.; Bieber, A.M.; Lemley, J.; Filby, E.

    1995-04-01

    The Safeguards Options Study was initiated to aid the International Safeguards Division (ISD) of the DOE Office of Arms Control and Nonproliferation in developing its programs in enhanced international safeguards. The goal was to provide a technical basis for the ISD program in this area. The Safeguards Options Study has been a cooperative effort among ten organizations. These are Argonne National Laboratory, Brookhaven National Laboratory, Idaho National Engineering Laboratory, Lawrence Livermore National Laboratory, Los Alamos National Laboratory, Mound Laboratory, Oak Ridge National Laboratory, Pacific Northwest Laboratories, Sandia National Laboratories, and Special Technologies Laboratory. Much of the Motivation for the Safeguards Options Study is the recognition after the Iraq experience that there are deficiencies in the present approach to international safeguards. While under International Atomic Energy Agency (IAEA) safeguards at their declared facilities, Iraq was able to develop a significant weapons program without being noticed. This is because negotiated safeguards only applied at declared sites. Even so, their nuclear weapons program clearly conflicted with Iraq`s obligations under the Nuclear Nonproliferation Treaty (NPT) as a nonnuclear weapon state.

  10. Mediation Plus Options To Resolve the "Real" Problems Underlying Disputes.

    ERIC Educational Resources Information Center

    Beekman, Lyn

    This paper discusses alternatives to court litigation in special education disputes between schools and parents of students with disabilities. It begins by describing problems with the current hearing process and dispelling myths about alternative dispute resolutions (ADR). The advantages and disadvantages of mediation are then outlined, along…

  11. Fuel Cells: A Real Option for Unmanned Aerial Vehicles Propulsion

    PubMed Central

    2014-01-01

    The possibility of implementing fuel cell technology in Unmanned Aerial Vehicle (UAV) propulsion systems is considered. Potential advantages of the Proton Exchange Membrane or Polymer Electrolyte Membrane (PEMFC) and Direct Methanol Fuel Cells (DMFC), their fuels (hydrogen and methanol), and their storage systems are revised from technical and environmental standpoints. Some operating commercial applications are described. Main constraints for these kinds of fuel cells are analyzed in order to elucidate the viability of future developments. Since the low power density is the main problem of fuel cells, hybridization with electric batteries, necessary in most cases, is also explored. PMID:24600326

  12. Real Options Valuation of e-Learning Projects

    ERIC Educational Resources Information Center

    Freitas, Angilberto; Brandao, Luiz

    2010-01-01

    New information and communication technologies have been gaining widespread use in Distance Education (DE) models. At the same time, the uncertainty in the market demand for this form of higher education is such that the valuation of "e-Learning" projects has become increasingly difficult and complex. This is due to the fact that uncertainty and…

  13. Bringing Reality to "Real Options": An Experiential Exercise

    ERIC Educational Resources Information Center

    Turner, Craig; Turner, Kyle Dean

    2015-01-01

    Issues surrounding the contextual environment in which strategic decisions are made are difficult concepts to grasp, particularly for undergraduate students with little business experience. They are also problematic for graduate students that have not been called on to make such decisions within their career. The authors propose an exercise that…

  14. Fuel cells: a real option for Unmanned Aerial Vehicles propulsion.

    PubMed

    González-Espasandín, Óscar; Leo, Teresa J; Navarro-Arévalo, Emilio

    2014-01-01

    The possibility of implementing fuel cell technology in Unmanned Aerial Vehicle (UAV) propulsion systems is considered. Potential advantages of the Proton Exchange Membrane or Polymer Electrolyte Membrane (PEMFC) and Direct Methanol Fuel Cells (DMFC), their fuels (hydrogen and methanol), and their storage systems are revised from technical and environmental standpoints. Some operating commercial applications are described. Main constraints for these kinds of fuel cells are analyzed in order to elucidate the viability of future developments. Since the low power density is the main problem of fuel cells, hybridization with electric batteries, necessary in most cases, is also explored. PMID:24600326

  15. RTP as an Optional Service: It's Alive, But Is It Well?

    SciTech Connect

    Goldman, Charles; Barbose, Galen; Neenan, Bernie

    2006-03-10

    Economists have advocated for real-time pricing (RTP) of electricity on the basis of the gains in economic efficiency that would result from charging customers the contemporaneous marginal cost of supplying electricity instead of the average cost. In recent years, RTP has also become the subject of interest in a variety of policy contexts, including integrated resource planning initiatives, ongoing efforts to improve efficiency and reliability in competitive electricity markets, and implementation of default service in states with retail choice. Most experience with RTP has been as an optional service, that is, a self-selecting alternative to the standard utility service. By our count, approximately 70 utilities in the U.S. offered an optional RTP program at some point over the past 20 years. However, many programs are now defunct. In 2003, 47 utilities in the U.S. were still offering an optional RTP program, on either a pilot or permanent basis (see Figure 1). In addition, 10 utilities in states with retail choice currently offer RTP as the default service for large customers that are not under contract with a competitive supplier. Another two utilities have received regulatory approval to do so in the next few years. Although the results of a few optional RTP programs have been publicized, the vast majority of programs have operated in relative obscurity. To provide a wider perspective on utility and customer experience with RTP, we surveyed 43 optional RTP programs offered in 2003. We interviewed RTP program managers and other utility staff, and reviewed publicly available sources, including key regulatory documents and program evaluations. Based on this research, we identified trends related to RTP program history and outlook, program design and implementation, customer participation, and participant price response. The results are both surprising and instructive. We conclude that RTP is indeed alive but is not prospering as well it could. Thus, we offer a

  16. [Interventional neuroradiology: current options].

    PubMed

    Szikora, István; Marosfői, Miklós; Berentei, Zsolt; Gubucz, István

    2015-04-26

    Modern interventional neuroradiology has a leading role in the treatment of ischemic and hemorrhagic stroke, and it provides more and more important treatment options for degenerative diseases of the vertebral column and the management of correlated pain. During the last decades interventional neuroradiology has played a primary role in the treatment of intracranial berry aneurysms due to the continuous technical improvements. Ongoing studies proved superiority of mechanical stent-thrombectomy in acute proximal occlusion of cerebral arteries. Less invasive neurointerventional methods, such as vertebroplasty, are widely used in osteoporotic and neoplastic pathologic fractures of the vertebral bodies. These treatments should be performed in a specialized center by well trained physicians. PMID:26047151

  17. Options for Mars exploration

    NASA Technical Reports Server (NTRS)

    Pritchard, E. B.; Harrison, E. F.; Moore, J. W.

    1974-01-01

    The many possible post-Viking 1975 Mars mission options are explored. These include small atmospheric probe/landers (adaptations of the Venus Pioneer to Mars), repeat Vikings with and without science changes, long-life orbiters to provide coverage of both hemispheres for a full Martian year, small rovers deployed from the Viking lander with ranges of up to 1 km from it, large autonomous rovers, Mars sample-return missions and, finally, missions to the satellites of Mars, including sample return. The examination includes energy requirements and time frames.

  18. Martingale option pricing

    NASA Astrophysics Data System (ADS)

    McCauley, J. L.; Gunaratne, G. H.; Bassler, K. E.

    2007-07-01

    We show that our earlier generalization of the Black-Scholes partial differential equation (pde) for variable diffusion coefficients is equivalent to a Martingale in the risk neutral discounted stock price. Previously, the equivalence of Black-Scholes to a Martingale was proven for the case of the Gaussian returns model by Harrison and Kreps, but we prove it for a much larger class of returns models where the returns diffusion coefficient depends irreducibly on both returns x and time t. That option prices blow up if fat tails in logarithmic returns x are included in market return is also proven.

  19. Achilles Tendinosis: Treatment Options

    PubMed Central

    Lopez, Roberto Gabriel L.

    2015-01-01

    Athletes usually complain of an ongoing or chronic pain over the Achilles tendon, but recently even non-athletes are experiencing the same kind of pain which affects their daily activities. Achilles tendinosis refers to a degenerative process of the tendon without histologic or clinical signs of intratendinous inflammation. Treatment is based on whether to stimulate or prevent neovascularization. Thus, until now, there is no consensus as to the best treatment for this condition. This paper aims to review the common ways of treating this condition from the conservative to the surgical options. PMID:25729512

  20. Adolescent pregnancy options.

    PubMed

    Resnick, M D

    1992-09-01

    The range of pregnancy options available to adolescents each have significant ramifications for future educational and economic achievement. The changing societal context of adolescent pregnancy decision-making are described, and the characteristics of adolescents who choose to terminate their pregnancy, parent their child, or place for adoption are examined. The role of significant others in decision-making and the implications of mandatory parental involvement in pregnancy decision-making is discussed, as well as the roles of schools in promoting the well-being and potential of adolescents considering pregnancy decisions. PMID:1434557

  1. Real Forestry for Real Estate

    ERIC Educational Resources Information Center

    Gagnon, Jennifer; Fisher, Jason

    2013-01-01

    Virginia is poised to see an unprecedented change in forest land ownership. To provide new landowners with information on sustainable forest management, we developed a two-part program, Real Forestry for Real Estate. First, we assembled New Landowner Packets, which contain a variety of sustainable forest management resources. Second, two…

  2. Incontinence Treatment: Newer Treatment Options

    MedlinePlus

    ... Incontinence Managing Incontinence: A Survey The Patient's Perspective Barriers on Diagnosis and Treatment Personal Stories Contact Us ... Incontinence Managing Incontinence: A Survey The Patient's Perspective Barriers on Diagnosis and Treatment Personal Stories Contact Us ...

  3. 77 FR 77133 - Self-Regulatory Organizations; The Options Clearing Corporation; Notice of Filing and Immediate...

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-12-31

    ... real-time series information data. OCC provides a variety of options-related data to Subscribers... Subscribers receiving real-time Series Information data. OCC will continue to offer Series Information data... Request for Such Data on a Real- Time Basis DATES: December 21, 2012. Pursuant to Section 19(b)(1) of...

  4. Retrieval options study

    SciTech Connect

    Not Available

    1980-03-01

    This Retrieval Options Study is part of the systems analysis activities of the Office of Nuclear Waste Isolation to develop the scientific and technological bases for radioactive waste repositories in various geologic media. The study considers two waste forms, high level waste and spent fuel, and defines various classes of waste retrieval and recovery. A methodology and data base are developed which allow the relative evaluation of retrieval and recovery costs and the following technical criteria: safety; technical feasibility; ease of retrieval; probable intact retrieval time; safeguards; monitoring; criticality; and licensability. A total of 505 repository options are defined and the cost and technical criteria evaluated utilizing a combination of facts and engineering judgments. The repositories evaluated are selected combinations of the following parameters: Geologic Media (salt, granite, basalt, shale); Retrieval Time after Emplacement (5 and 25 years); Emplacement Design (nominal hole, large hole, carbon steel canister, corrosion resistant canister, backfill in hole, nominal sleeves, thick wall sleeves); Emplacement Configuration (single vertical, multiple vertical, single horizontal, multiple horizontal, vaults; Thermal Considerations; (normal design, reduced density, once-through ventilation, recirculated ventilation); Room Backfill; (none, run-of-mine, early, 5 year delay, 25 year delay, decommissioned); and Rate of Retrieval; (same as emplacement, variably slower depending on repository/canister condition).

  5. TOPEX satellite option study

    NASA Technical Reports Server (NTRS)

    1982-01-01

    The basic design of the fleet satellite communication spacecraft (FLTSATCOM) can easily accommodate any of the three payload options for the ocean dynamic topography experiment (TOPEX). The principal mission requirements as well as the payload accommodations and communications systems needed for launching this payload are reviewed. The existing FLTSATCOM satellite design is identified and the approaches for the proposed propulsion system are described in addition to subsystems for mechanical; power; attitude and velocity control; and telemetry, tracking and control are described. The compatability of FLTSATCOM with the launch vehicle is examined and its capabilities vs TOPEX requirements are summarized. Undetermined changes needed to meet data storage, thermal control, and area to mass ratio requirements are discussed. Cost estimates are included for budgetary and planning purposes. The availability of the described design is assessed based on the continuing production of FLTSATCOM spacecraft during the schedule span planned for TOPEX.

  6. Mars Surface Habitability Options

    NASA Technical Reports Server (NTRS)

    Howe, A. Scott; Simon, Matthew; Smitherman, David; Howard, Robert; Toups, Larry; Hoffman, Stephen J.

    2015-01-01

    This paper reports on current habitability concepts for an Evolvable Mars Campaign (EMC) prepared by the NASA Human Spaceflight Architecture Team (HAT). For many years NASA has investigated alternative human Mars missions, examining different mission objectives, trajectories, vehicles, and technologies; the combinations of which have been referred to as reference missions or architectures. At the highest levels, decisions regarding the timing and objectives for a human mission to Mars continue to evolve while at the lowest levels, applicable technologies continue to advance. This results in an on-going need for assessments of alternative system designs such as the habitat, a significant element in any human Mars mission scenario, to provide meaningful design sensitivity characterizations to assist decision-makers regarding timing, objectives, and technologies. As a subset of the Evolvable Mars Campaign activities, the habitability team builds upon results from past studies and recommends options for Mars surface habitability compatible with updated technologies.

  7. Achalasia: current treatment options.

    PubMed

    Familiari, Pietro; Greco, Santi; Volkanovska, Ance; Gigante, Giovanni; Cali, Anna; Boškoski, Ivo; Costamagna, Guido

    2015-01-01

    Achalasia is a rare esophageal motility disorder, characterized by impaired swallow-induced, lower esophageal sphincter (LES) relaxation and defective esophageal peristalsis. Unfortunately, there are no etiological therapies for achalasia. Patients present with dysphagia, chest pain and regurgitation of undigested food, often leading to weight loss. The currently available treatments have the common aim of relieving symptoms by decreasing the pressure of the LES. This can be achieved with some medications, by inhibiting the cholinergic innervation (botulinum toxin), by stretching (endoscopic dilation) or cutting (surgery) the LES. Recently, other therapeutic options, including per-oral endoscopic myotomy have been developed and are gaining international consensus. The authors report on the benefits and weaknesses of the different therapies and provide an updated approach to the management of achalasia. PMID:26186641

  8. HIPAA--a real world perspective.

    PubMed

    Nulan, C

    2001-01-01

    An effective and realistic approach to HIPAA compliance requires healthcare organizations to achieve a fundamental shift in attitude, awareness, habits and capabilities in the areas of privacy and security. They must create a sense of accountability among staff, and even patients, for the safeguarding of patient information. Only when this culture shift has occurred, along with the required technological advancements, can HIPAA compliance be realistically achieved. There is still ample time to create the organizational shift necessary, along with technological enhancements, to meet HIPAA requirements. Beyond compliance, HIPAA will benefit the healthcare industry by promoting administrative simplification--the original intention of the Act. And it will require the healthcare industry, in an abbreviated timeframe, to upgrade its level of sophistication in managing information. HIPAA certification springs from an organizational compliance method that has been underway in government for the past two decades. The HIPAA playbook is taken lock, stock and barrel from other Federal guidelines. HIPAA's legislative lineage includes the Healthcare Reform Act of 1993, Paperwork Reduction Act of 1980, Computer Security Act of 1987 and the Privacy Act of 1974. HIPAA means that public and private sector healthcare organizations are going to be required by law to adopt the same information-handling practices that have been in effect in the Federal government for years. That boils down to two things: Standardized formatting of data electronically exchanged between providers, payers and business partners (EDI) Federalization of security and privacy practices within private-sector healthcare information management The key to making HIPAA compliance achievable within a practical timeframe, as well as instituting the culture changes that go with enhanced privacy and security standards, is a process that is largely unfamiliar in the private sector, called administrative certification and accreditation. Certification is an organizational change-management methodology that drives accountability for security down to that level in the organization where it will concretely and tangibly get done. It is a comprehensive managerial assessment of the technical and non-technical security features and other safeguards of a system associated with its use and environment. The assessment seeks to establish and document the extent to which a particular system meets a set of specified security requirements. HIPAA accreditation occurs when all functional managers in an organization have completed reports of what they know they need to do in their areas. They submit that information to an executive official within the organization who functions as the accrediting official for the organization. Accreditation is the formal declaration that an information system is approved to operate in a particular security mode using a prescribed set of safeguards and should be strongly based on the solvable vulnerabilities and residual risks identified during certification. Institutionalizing a practical and formal HIPAA certification program is important to support business activities and can provide several benefits including increased communication within an organization. PMID:11302064

  9. Early amplification options.

    PubMed

    Gabbard, Sandra Abbott; Schryer, Jennifer

    2003-01-01

    Children with permanent hearing loss have been remediated with hearing amplification devices for decades. The influx of young infants identified with hearing loss through successful newborn hearing screening programs has established a need for amplification resources for infants within the first six months of life. For the approximately two of every 1000 infants born who are identified with bilateral hearing loss [Mehl and Thomson, 1998, Pediatrics 101, p. e4], the use of amplification is commonly the first step in treating the sequella of their loss. The use of hearing aids, combined with early intervention, has been shown to significantly improve the speech and language skills of young children with hearing loss [Yoshinaga-Itano, 2000, Seminars in Hearing 21, p. 309]. Speech and language delays have contributed to compromised academic performance of school aged children with hearing loss [Johnson et al., 1997, Educational Audiology Handbook, Singular Publishing, San Diego]. Most hard-of-hearing and deaf children use hearing aids and other assistive listening devices every day throughout their lifetime and the life expectancy of a hearing aid is only five to eight years. The current challenge for pediatric audiologists is selecting and evaluating the available amplification to provide the best options for children and their families. Amplification technology has seen an explosion in growth the past few years and the options continue to expand rapidly. This article examines currently available amplification technology and reviews the selection criteria that may be used for infants and young children. Issues such as style, type, amplification features, signal processing strategies, and verification and validation tools are also discussed. PMID:14648816

  10. Peak load management: Potential options

    SciTech Connect

    Englin, J.E.; De Steese, J.G.; Schultz, R.W.; Kellogg, M.A.

    1989-10-01

    This report reviews options that may be alternatives to transmission construction (ATT) applicable both generally and at specific locations in the service area of the Bonneville Power Administration (BPA). Some of these options have potential as specific alternatives to the Shelton-Fairmount 230-kV Reinforcement Project, which is the focus of this study. A listing of 31 peak load management (PLM) options is included. Estimated costs and normalized hourly load shapes, corresponding to the respective base load and controlled load cases, are considered for 15 of the above options. A summary page is presented for each of these options, grouped with respect to its applicability in the residential, commercial, industrial, and agricultural sectors. The report contains comments on PLM measures for which load shape management characteristics are not yet available. These comments address the potential relevance of the options and the possible difficulty that may be encountered in characterizing their value should be of interest in this investigation. The report also identifies options that could improve the efficiency of the three customer utility distribution systems supplied by the Shelton-Fairmount Reinforcement Project. Potential cogeneration options in the Olympic Peninsula are also discussed. These discussions focus on the options that appear to be most promising on the Olympic Peninsula. Finally, a short list of options is recommended for investigation in the next phase of this study. 9 refs., 24 tabs.

  11. Cognitive and Affective Aspects of Creative Option Generation in Everyday Life Situations.

    PubMed

    Schweizer, T Sophie; Schmalenberger, Katja M; Eisenlohr-Moul, Tory A; Mojzisch, Andreas; Kaiser, Stefan; Funke, Joachim

    2016-01-01

    Which factors influence a human being's ability to develop new perspectives and be creative? This ability is pivotal for any context in which new cognitions are required, such as innovative endeavors in science and art, or psychotherapeutic settings. In this article, we seek to bring together two research programs investigating the generation of creative options: On the one hand, research on option generation in the decision-making literature and, on the other hand, cognitive and clinical creativity research. Previous decision-making research has largely neglected the topic of generating creative options. Experiments typically provided participants with a clear set of options to choose from, but everyday life situations are less structured and allow countless ways to react. Before choosing an option, agents have to self-generate a set of options to choose from. Such option generation processes have only recently moved to the center of attention. The present study examines the creative quality of self-generated options in daily life situations. A student sample (N = 48) generated options for action in 70 briefly described everyday life scenarios. We rated the quality of the options on three dimensions of creativity- originality, feasibility, and divergence -and linked these qualities to option generation fluency (speed and number of generated options), situational features like the familiarity and the affective valence of the situation in which the options were generated, and trait measures of cognitive performance. We found that when situations were familiar to the participant, greater negative affective valence of the situation was associated with more originality and divergence of generated options. We also found that a higher option generation fluency was associated with a greater maximal originality of options. We complete our article with a joint research agenda for researchers in the decision-making field focusing on option generation and, on the other hand

  12. Cognitive and Affective Aspects of Creative Option Generation in Everyday Life Situations

    PubMed Central

    Schweizer, T. Sophie; Schmalenberger, Katja M.; Eisenlohr-Moul, Tory A.; Mojzisch, Andreas; Kaiser, Stefan; Funke, Joachim

    2016-01-01

    Which factors influence a human being’s ability to develop new perspectives and be creative? This ability is pivotal for any context in which new cognitions are required, such as innovative endeavors in science and art, or psychotherapeutic settings. In this article, we seek to bring together two research programs investigating the generation of creative options: On the one hand, research on option generation in the decision-making literature and, on the other hand, cognitive and clinical creativity research. Previous decision-making research has largely neglected the topic of generating creative options. Experiments typically provided participants with a clear set of options to choose from, but everyday life situations are less structured and allow countless ways to react. Before choosing an option, agents have to self-generate a set of options to choose from. Such option generation processes have only recently moved to the center of attention. The present study examines the creative quality of self-generated options in daily life situations. A student sample (N = 48) generated options for action in 70 briefly described everyday life scenarios. We rated the quality of the options on three dimensions of creativity- originality, feasibility, and divergence -and linked these qualities to option generation fluency (speed and number of generated options), situational features like the familiarity and the affective valence of the situation in which the options were generated, and trait measures of cognitive performance. We found that when situations were familiar to the participant, greater negative affective valence of the situation was associated with more originality and divergence of generated options. We also found that a higher option generation fluency was associated with a greater maximal originality of options. We complete our article with a joint research agenda for researchers in the decision-making field focusing on option generation and, on the other hand

  13. EDITORIAL: Perspectives Perspectives

    NASA Astrophysics Data System (ADS)

    Dewhurst, Richard

    2011-05-01

    In this issue, we are delighted to publish the second in a series of articles under the banner of Perspectives. The series commenced in late 2008, when Udo Kaatze [1] published an article about the powerful technique of dielectric spectrometry for liquid measurements. In addition to examining the very wide frequency range from 10-6 Hz to 10-13 Hz, an outline of possible future developments was presented. Some challenging tasks for the future were briefly outlined. The format of the article was different to the usual style of a contributed paper or review article. Instead, it represented a short summary of recent work in the field and offered a viewpoint of an expert in the area. Its commentary noted several milestones that had been recently achieved, and then looked to the future. The Perspective format allowed the author to provide some opinion about the challenges of the future not normally permitted in a Topical Review. The journal now intends to publish several more Perspectives. For example, in this issue David Birch [2] presents a Perspective about another important measurement science, namely fluorescence detections and their future directions. These are based on an old technique which provided the basis for detecting the presence of molecular species. Successful research led to an understanding and description of the phenomenon of molecular fluorescence in terms of excited state energies, transitions, symmetries and rate parameters. More recently, using fluorescence as a probe, and with the exploitation of new technologies, new applications have included the study of protein, vision, photosynthesis, membranes and DNA. Indeed nowhere has fluorescence had more impact than in the biosciences. Once again, the intention of the Perspective article has been to highlight recent milestones within the field. Importantly, it also indicates some of the future challenges. Such Perspectives are an occasional series. They are not intended to deflect from the balance of

  14. Delta hedged option valuation with underlying non-Gaussian returns

    NASA Astrophysics Data System (ADS)

    Moriconi, L.

    2007-07-01

    The standard Black-Scholes theory of option pricing is extended to cope with underlying return fluctuations described by general probability distributions. A Langevin process and its related Fokker-Planck equation are devised to model the market stochastic dynamics, allowing us to write and formally solve the generalized Black-Scholes equation implied by dynamical hedging. A systematic expansion around a non-perturbative starting point is then implemented, recovering the Matacz's conjectured option pricing expression. We perform an application of our formalism to the real stock market and find clear evidence that while past financial time series can be used to evaluate option prices before the expiry date with reasonable accuracy, the stochastic character of volatility is an essential ingredient that should necessarily be taken into account in analytical option price modeling.

  15. Composites: A viable option

    NASA Technical Reports Server (NTRS)

    Mccarty, John E.

    1991-01-01

    While it sounded great to be asked to talk about composites, I found it difficult to select subject areas that would be of real interest. My choice is based on saying some things about where the maturity of the composite aircraft structures is today and what that means in terms of future criteria for application. This focus was the basis for my title selection. The other issue that will be addressed was requested by NASA and focuses on composites structures cost. This fits well with the state-of-the-art interpretations I will discuss first, since the cost issue must be viewed from both the current status and future points of view. The difficulty in presenting something in these areas is not in the subjects themselves but in trying to present a real world viewpoint to an audience of composite experts. So, with recognition of the expertise of the audience, I hope you will see something in this presentation about how to view composite aircraft structure.

  16. For the last time: stock options are an expense.

    PubMed

    Bodie, Zvi; Kaplan, Robert S; Merton, Robert C

    2003-03-01

    Should stock options be recorded as an expense on a company's income statement and balance sheet, or should they remain where they are, relegated to footnotes? The extraordinary boom in share prices during the Internet bubble made critics of option expensing look like spoilsports. But since the crash, the debate has returned with a vengeance. And no wonder: The authors believe the case for expensing options is overwhelming. In this article, Nobel Iaureate Robert Merton, one of the inventors of the Black-Scholes option-pricing model; his coauthor on the classic textbook Finance, Zvi Bodie; and Robert Kaplan, creator of the Balanced Scorecard, examine and dismiss the principal claims put forward by those who continue to oppose options expensing. They demonstrate that stock-option grants do indeed have real cash-flow implications that need to be reported. They show that effective ways certainly exist to quantify those implications. They detail the distortions that relegating stock-option accounting to footnotes creates. And they show why reporting option costs should in no way hamper young companies in their efforts to provide incentives. Options are indeed a powerful incentive, the authors agree, and failing to record a transaction that creates such powerful effects is economically indefensible. Worse, it encourages companies to favor options over alternative incentive systems. It is not the proper role of accounting standards, the authors argue, to distort executive and employee compensation by subsidizing one particular form of compensation and no other. Companies should choose compensation methods according to their economic benefits--not the way they are reported. PMID:12632805

  17. 20 CFR 416.2035 - Optional supplementation: Additional State options.

    Code of Federal Regulations, 2011 CFR

    2011-04-01

    ... 20 Employees' Benefits 2 2011-04-01 2011-04-01 false Optional supplementation: Additional State options. 416.2035 Section 416.2035 Employees' Benefits SOCIAL SECURITY ADMINISTRATION SUPPLEMENTAL SECURITY INCOME FOR THE AGED, BLIND, AND DISABLED State Supplementation Provisions; Agreement;...

  18. 20 CFR 416.2035 - Optional supplementation: Additional State options.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 20 Employees' Benefits 2 2010-04-01 2010-04-01 false Optional supplementation: Additional State options. 416.2035 Section 416.2035 Employees' Benefits SOCIAL SECURITY ADMINISTRATION SUPPLEMENTAL SECURITY INCOME FOR THE AGED, BLIND, AND DISABLED State Supplementation Provisions; Agreement;...

  19. Selected Energy Conservation Options for Homeowners: Options, Expenses and Payoffs.

    ERIC Educational Resources Information Center

    Lengyel, Dorothy L.; And Others

    This publication is a check list for homeowners and renters to help them reduce energy costs. The list consists of 126 energy conservation options. These options range from "change clothes instead of adjusting thermostat" and "air conditioners turned off when not home" to "use sink stopper" and "weatherstripping and caulking applied." For each…

  20. Shuttle Liquid Fly Back Booster Configuration Options

    NASA Technical Reports Server (NTRS)

    Healy, Thomas J., Jr.

    1998-01-01

    This paper surveys the basic configuration options available to a Liquid Fly Back Booster (LFBB), integrated with the Space Shuttle system. The background of the development of the LFBB concept is given. The influence of the main booster engine (BME) installations and the fly back engine (FBE) installation on the aerodynamic configurations are also discussed. Limits on the LFBB configuration design space imposed by the existing Shuttle flight and ground elements are also described. The objective of the paper is to put the constrains and design space for an LFBB in perspective. The object of the work is to define LFBB configurations that significantly improve safety, operability, reliability and performance of the Shuttle system and dramatically lower operations costs.

  1. Shuttle Liquid Fly Back Booster Configuration Options

    NASA Technical Reports Server (NTRS)

    Healy, T. J., Jr.

    1998-01-01

    This paper surveys the basic configuration options available to a Liquid Fly Back Booster (LFBB), integrated with the Space Shuttle system. The background of the development of the LFBB concept is given. The influence of the main booster engine (BME) installations and the Fly Back Engine (FBE) installation on the aerodynamic configurations are also discussed. Limits on the LFBB configuration design space imposed by the existing Shuttle flight and ground elements are also described. The objective of the paper is to put the constrains and design space for an LFBB in perspective. The object of the work is to define LFBB configurations that significantly improve safety, operability, reliability and performance of the Shuttle system and dramatically lower operations costs.

  2. Procurement Options for New Renewable Electricity Supply

    SciTech Connect

    Kreycik, C. E.; Couture, T. D.; Cory, K. S.

    2011-12-01

    State renewable portfolio standard (RPS) policies require utilities and load-serving entities (LSEs) to procure renewable energy generation. Utility procurement options may be a function of state policy and regulatory preferences, and in some cases, may be dictated by legislative authority. Utilities and LSEs commonly use competitive solicitations or bilateral contracting to procure renewable energy supply to meet RPS mandates. However, policymakers and regulators in several states are beginning to explore the use of alternatives, namely feed-in tariffs (FITs) and auctions to procure renewable energy supply. This report evaluates four procurement strategies (competitive solicitations, bilateral contracting, FITs, and auctions) against four main criteria: (1) pricing; (2) complexity and efficiency of the procurement process; (3) impacts on developers access to markets; and (4) ability to complement utility decision-making processes. These criteria were chosen because they take into account the perspective of each group of stakeholders: ratepayers, regulators, utilities, investors, and developers.

  3. Synroc processing options

    SciTech Connect

    Rozsa, R.B.; Hoenig, C.L.

    1981-09-01

    Synroc is a titanate-based ceramic material currently being developed for immobilizing high-level nuclear reactor wastes in solid form. Synroc D is a unique variation of Synroc. It can contain the high-level defense wastes, particularly those in storage at the Savannah River Plant. In this report, we review the early development of the initial Synroc process, discuss modification and other options that simplify it overall, and recommend the future direction of research and development in the processing area. A reference Synroc process is described briefly and contrasted with the Savannah River Laboratory glass-based reference case. Preliminary engineering layouts show Synroc to be a more complex processing operation and, thus, more expensive than the glass-based process. However, we believe that simplifications, which will significantly reduce the cost difference, are possible. Further research and development will continue in the areas of slurry processing, fluidized bed calcination, and mineralization. This last will use sintering, hot uniaxial pressing, or hot isostatic pressing.

  4. Pediatric Glaucoma: Pharmacotherapeutic Options.

    PubMed

    Samant, Monica; Medsinge, Anagha; Nischal, Ken K

    2016-06-01

    Childhood glaucoma is a major therapeutic challenge for pediatric ophthalmologists and glaucoma specialists worldwide. Management depends on the etiology and age at presentation. A variety of drugs are available for the control of intraocular pressure in children; however, none of these drugs have been licensed by the regulatory agencies for use in children. Furthermore, evidence gained from randomized controlled trials in the pediatric population is sparse, and little is known regarding the use of newer anti-glaucoma preparations. This evidence-based review aims to discuss the available pharmacotherapeutic options for glaucoma in children. Topical adrenoceptor blockers, topical and systemic carbonic anhydrase inhibitors, prostaglandin (PG) analogs, adrenoceptor agonists, parasympathomimetics, and combined preparations are available for use in children, but usually as an off-label indication. Therefore, it is important to recognize that serious side effects have been reported, even with topical drops, and measures to reduce systemic absorption should be taken. Most drugs have been shown to have comparable ocular hypotensive effects, with the lowest occurrence of systemic side effects with PG analogs. Whereas a newly introduced prostaglandin analog, tafluprost, and some other preservative-free preparations have shown promising results in adult glaucoma patients, no pediatric reports are available as yet. Future studies may describe their role in treating pediatric glaucoma. This review also shares some suggested treatment pathways for primary congenital glaucoma (PCG), juvenile open angle glaucoma (JOAG), developmental glaucoma, aphakic/pseudophakic glaucoma, and uveitic glaucoma. PMID:27093864

  5. AFCI Options Study

    SciTech Connect

    R. Wigeland; T. Taiwo; M. Todosow; W. Halsey; J. Gehin

    2009-09-01

    This report describes the background and framework for both organizing the discussion and providing information on the potential for nuclear energy R&D to develop alternative nuclear fuel cycles that would address the issues with the current implementations of nuclear power, including nuclear waste disposal, proliferation risk, safety, security, economics, and sustainability. The disposition of used fuel is the cause of many of the concerns, and the possible approaches to used fuel management identify a number of basic technology areas that need to be considered. The basic science in each of the technology areas is discussed, emphasizing what science is currently available, where scientific knowledge may be insufficient, and especially to identify specific areas where transformational discoveries may allow achievement of performance goals not currently attainable. These discussions lead to the wide range of technical options that have been the basis for past and current research and development on advanced nuclear fuel cycles in the United States. The results of this work are then briefly reviewed to show the extent to which such approaches are capable of addressing the issues with nuclear power, the potential for moving further, and the inherent limitations.

  6. Treatment Options for Narcolepsy.

    PubMed

    Barateau, Lucie; Lopez, Régis; Dauvilliers, Yves

    2016-05-01

    Narcolepsy type 1 and narcolepsy type 2 are central disorders of hypersomnolence. Narcolepsy type 1 is characterized by excessive daytime sleepiness and cataplexy and is associated with hypocretin-1 deficiency. On the other hand, in narcolepsy type 2, cerebrospinal fluid hypocretin-1 levels are normal and cataplexy absent. Despite major advances in our understanding of narcolepsy mechanisms, its current management is only symptomatic. Treatment options may vary from a single drug that targets several symptoms, or multiple medications that each treats a specific symptom. In recent years, narcolepsy treatment has changed with the widespread use of modafinil/armodafinil for daytime sleepiness, antidepressants (selective serotonin and dual serotonin and noradrenalin reuptake inhibitors) for cataplexy, and sodium oxybate for both symptoms. Other psychostimulants can also be used, such as methylphenidate, pitolisant and rarely amphetamines, as third-line therapy. Importantly, clinically relevant subjective and objective measures of daytime sleepiness are required to monitor the treatment efficacy and to provide guidance on whether the treatment goals are met. Associated symptoms and comorbid conditions, such as hypnagogic/hypnopompic hallucinations, sleep paralysis, disturbed nighttime sleep, unpleasant dreams, REM- and non REM-related parasomnias, depressive symptoms, overweight/obesity, and obstructive sleep apnea, should also be taken into account and managed, if required. In the near future, the efficacy of new wake-promoting drugs, anticataplectic agents, hypocretin replacement therapy and immunotherapy at the early stages of the disease should also be evaluated. PMID:27155860

  7. Maintenance and supply options

    NASA Technical Reports Server (NTRS)

    1988-01-01

    The object of the Maintenance and Supply Option was to develop a high level operational philosophy related to maintenance and supply operations and incorporate these concepts into the Lunar Base Study. Specific products to be generated during this task were three trade studies and a conceptual design of the Logistic Supply Module. The crew size study was performed to evaluate crew sizes from the baseline size of four to a crew size of eight and determine the preferred crew size. The second trade study was to determine the impact of extending surface stay times and recommend a preferred duration of stay time as a function of crew, consumables, and equipment support capabilities. The third trade study was an evaluation of packaging and storage methods to determine the preferred logistics approach to support the lunar base. A modified scenario was developed and served as the basis of the individual trade studies. Assumptions and guidelines were also developed from experience with Apollo programs, Space Shuttle operations, and Space Station studies. With this information, the trade studies were performed and a conceptual design for the Logistic Supply Module was developed.

  8. Multifractal analysis of implied volatility in index options

    NASA Astrophysics Data System (ADS)

    Oh, GabJin

    2014-06-01

    In this paper, we analyze the statistical and the non-linear properties of the log-variations in implied volatility for the CAC40, DAX and S& P500 daily index options. The price of an index option is generally represented by its implied volatility surface, including its smile and skew properties. We utilize a Lévy process model as the underlying asset to deepen our understanding of the intrinsic property of the implied volatility in the index options and estimate the implied volatility surface. We find that the options pricing models with the exponential Lévy model can reproduce the smile or sneer features of the implied volatility that are observed in real options markets. We study the variation in the implied volatility for at-the-money index call and put options, and we find that the distribution function follows a power-law distribution with an exponent of 3.5 ≤ γ ≤ 4.5. Especially, the variation in the implied volatility exhibits multifractal spectral characteristics, and the global financial crisis has influenced the complexity of the option markets.

  9. A Smorgasbord of Assessment Options

    ERIC Educational Resources Information Center

    Bacon, Kathy A.

    2010-01-01

    The wealth of assessment options that exists offers teachers and students a "menu" of selections. Just as matching appetite needs with appropriate food selection is fundamental to a successful dining experience, matching assessment options to targeted achievement needs is crucial to an effective assessment experience. The author uses a geometry…

  10. Bounds for Asian basket options

    NASA Astrophysics Data System (ADS)

    Deelstra, Griselda; Diallo, Ibrahima; Vanmaele, Michèle

    2008-09-01

    In this paper we propose pricing bounds for European-style discrete arithmetic Asian basket options in a Black and Scholes framework. We start from methods used for basket options and Asian options. First, we use the general approach for deriving upper and lower bounds for stop-loss premia of sums of non-independent random variables as in Kaas et al. [Upper and lower bounds for sums of random variables, Insurance Math. Econom. 27 (2000) 151-168] or Dhaene et al. [The concept of comonotonicity in actuarial science and finance: theory, Insurance Math. Econom. 31(1) (2002) 3-33]. We generalize the methods in Deelstra et al. [Pricing of arithmetic basket options by conditioning, Insurance Math. Econom. 34 (2004) 55-57] and Vanmaele et al. [Bounds for the price of discrete sampled arithmetic Asian options, J. Comput. Appl. Math. 185(1) (2006) 51-90]. Afterwards we show how to derive an analytical closed-form expression for a lower bound in the non-comonotonic case. Finally, we derive upper bounds for Asian basket options by applying techniques as in Thompson [Fast narrow bounds on the value of Asian options, Working Paper, University of Cambridge, 1999] and Lord [Partially exact and bounded approximations for arithmetic Asian options, J. Comput. Finance 10 (2) (2006) 1-52]. Numerical results are included and on the basis of our numerical tests, we explain which method we recommend depending on moneyness and time-to-maturity.

  11. Optional Extended Year Program. FEEDBACK.

    ERIC Educational Resources Information Center

    Washington, Wanda

    The Optional Extended Year (OEY) program was initiated in Texas in 1995 and was first implemented in the Austin Independent School District (AISD) in 1996. The OEY is designed to add an extended school year and reduce student retention through four school-day options: (1) extended day; (2) extended week; (3) intersessions for year-round schools;…

  12. Real Writing for Real Audiences.

    ERIC Educational Resources Information Center

    Bunce-Crim, Marna

    1992-01-01

    An experienced teacher describes how to provide students with a real audience to motivate them to write. Suggestions include writing letters to make a difference in the community, preparing newsletters, compiling class literary magazines, and writing for local newspapers and businesses or for commercial children's magazines. (SM)

  13. Sociological Perspectives.

    ERIC Educational Resources Information Center

    Townley, Charles; Middleton, Mike

    This monograph examines sociological perspectives and their applications. It is intended to help the college student coming to sociology for the first time to recognize that there are several perspectives within sociology and to disentangle the mass of terms associated with each. The first distinctive sociological perspective came from the work of…

  14. Effluent treatment options for nuclear thermal propulsion system ground tests

    SciTech Connect

    Shipers, L.R.; Brockmann, J.E.

    1992-10-16

    A variety of approaches for handling effluent from nuclear thermal propulsion system ground tests in an environmentally acceptable manner are discussed. The functional requirements of effluent treatment are defined and concept options are presented within the framework of these requirements. System concepts differ primarily in the choice of fission-product retention and waste handling concepts. The concept options considered range from closed cycle (venting the exhaust to a closed volume or recirculating the hydrogen in a closed loop) to open cycle (real time processing and venting of the effluent). This paper reviews the strengths and weaknesses of different methods to handle effluent from nuclear thermal propulsion system ground tests.

  15. Advanced Nuclear Fuel Cycle Options

    SciTech Connect

    Roald Wigeland; Temitope Taiwo; Michael Todosow; William Halsey; Jess Gehin

    2010-06-01

    A systematic evaluation has been conducted of the potential for advanced nuclear fuel cycle strategies and options to address the issues ascribed to the use of nuclear power. Issues included nuclear waste management, proliferation risk, safety, security, economics and affordability, and sustainability. The two basic strategies, once-through and recycle, and the range of possibilities within each strategy, are considered for all aspects of the fuel cycle including options for nuclear material irradiation, separations if needed, and disposal. Options range from incremental changes to today’s implementation to revolutionary concepts that would require the development of advanced nuclear technologies.

  16. Studying real-world perceptual expertise

    PubMed Central

    Shen, Jianhong; Mack, Michael L.; Palmeri, Thomas J.

    2014-01-01

    Significant insights into visual cognition have come from studying real-world perceptual expertise. Many have previously reviewed empirical findings and theoretical developments from this work. Here we instead provide a brief perspective on approaches, considerations, and challenges to studying real-world perceptual expertise. We discuss factors like choosing to use real-world versus artificial object domains of expertise, selecting a target domain of real-world perceptual expertise, recruiting experts, evaluating their level of expertise, and experimentally testing experts in the lab and online. Throughout our perspective, we highlight expert birding (also called birdwatching) as an example, as it has been used as a target domain for over two decades in the perceptual expertise literature. PMID:25147533

  17. Current options and perspectives in the treatment of diabetic neuropathy.

    PubMed

    Várkonyi, Tamás; Putz, Zsuzsanna; Keresztes, Katalin; Martos, Tímea; Lengyel, Csaba; Stirban, Alin; Jermendy, György; Kempler, Peter

    2013-01-01

    We aimed to summarise recent advances in the therapy of diabetic neuropathy. Although all therapeutic choices in the treatment of diabetes mellitus itself are based on clear pathophysiological basis, this approach is less present in the treatment of the "forgotten complication", diabetic neuropathy. As part of pathogenetic oriented treatment, the role of glycemic control and cardiovascular risk factors are reviewed. The mode of action of benfotiamine is based on inhibition of key alternative pathways, including the polyol, hexosamine, protein-kinase-C pathways, and inhibition of advanced glycation end products formation, just as on activation of transketolase. Alpha- lipoic-acid is considered as the most potent antioxidant. Other forms of pathogenetic oriented treatment, including actovegin, will be summarised. The anticonvulsants gabapentin and pregabalin, as well as the antidepressant duloxetine represent the most important new drugs among agents for symptomatic relief. Most likely, we should offer combination treatment to our patients much more often, first of all combination of pathogenetic and symptomatic drugs. Finally, the broad spectrum of non-pharmacological treatment will be reviewed. PMID:23278494

  18. Obesity: An overview on its current perspectives and treatment options

    PubMed Central

    Nammi, Srinivas; Koka, Saisudha; Chinnala, Krishna M; Boini, Krishna M

    2004-01-01

    Obesity is a multi-factorial disorder, which is often associated with many other significant diseases such as diabetes, hypertension and other cardiovascular diseases, osteoarthritis and certain cancers. The management of obesity will therefore require a comprehensive range of strategies focussing on those with existing weight problems and also on those at high risk of developing obesity. Hence, prevention of obesity during childhood should be considered a priority, as there is a risk of persistence to adulthood. This article highlights various preventive aspects and treatment procedures of obesity with special emphasis on the latest research manifolds. PMID:15084221

  19. FS65 Disposition Option Report

    SciTech Connect

    Wenz, Tracy R.

    2015-09-25

    This report outlines the options for dispositioning the MOX fuel stored in FS65 containers at LANL. Additional discussion regarding the support equipment for loading and unloading the FS65 transport containers is included at the end of the report.

  20. NYMEX electricity futures and options

    SciTech Connect

    Burke, L.

    1996-12-31

    Electricity futures and options are discussed under the following topics: a futures contract, primary economic role of commodity exchanges, characteristics of an effective exchange, natural gas and electricity similarities, hedging, and coal futures contracts.

  1. Manned Mars mission astronomy options

    NASA Technical Reports Server (NTRS)

    Suess, S. T.

    1986-01-01

    Astronomical observations during the transit phase, in orbit about Mars, and from the surface present important scientific objectives. Primary astronomical objectives are being summarized by J. Burns (University of New Mexico). Additional or alternative options will be introduced here, together with their strengths, weaknesses, viability, and value. It is important to note at the outset that not all possible options are necessarily important or viable.

  2. A nonparametric approach for European option valuation

    NASA Astrophysics Data System (ADS)

    Huang, Guanghui; Wan, Jianping

    2008-04-01

    A nonparametric approach for European option valuation is proposed in this paper, which adopts a purely jump model to describe the price dynamics of the underlying asset, and the minimal entropy martingale measure for those jumps is used as the pricing measure of this market. A simple Monte Carlo simulation method is proposed to calculate the price of derivatives under this risk neural measure. And the volatility of the spot market can be renewed automatically without particular specification in the proposed method. The performances of the proposed method are compared to that of the Black-Scholes formula in an artificial world and the real world. The results of our investigations suggest that the proposed method is a valuable method.

  3. Feedback as Real-Time Constructions

    ERIC Educational Resources Information Center

    Keiding, Tina Bering; Qvortrup, Ane

    2014-01-01

    This article offers a re-description of feedback and the significance of time in feedback constructions based on systems theory. It describes feedback as internal, real-time constructions in a learning system. From this perspective, feedback is neither immediate nor delayed, but occurs in the very moment it takes place. This article argues for a…

  4. International Perspectives.

    ERIC Educational Resources Information Center

    Allen, Kenn; Habermann, Ulla; Chowdhury, Omar Faruque; Guerra, Iraida Manzanilla

    1998-01-01

    Includes "Introduction to International Perspectives" (Allen); "Volunteerism in the Welfare State: The Case of Denmark" (Habermann); "Grassroots Organizing in Bangladesh" (Chowdhury); and "Volunteerism in Latin America" (Guerra). (SK)

  5. Lunar Cube Transfer Trajectory Options

    NASA Technical Reports Server (NTRS)

    Folta, David; Dichmann, Donald James; Clark, Pamela E.; Haapala, Amanda; Howell, Kathleen

    2015-01-01

    Numerous Earth-Moon trajectory and lunar orbit options are available for Cubesat missions. Given the limited Cubesat injection infrastructure, transfer trajectories are contingent upon the modification of an initial condition of the injected or deployed orbit. Additionally, these transfers can be restricted by the selection or designs of Cubesat subsystems such as propulsion or communication. Nonetheless, many trajectory options can b e considered which have a wide range of transfer duration, fuel requirements, and final destinations. Our investigation of potential trajectories highlights several options including deployment from low Earth orbit (LEO) geostationary transfer orbits (GTO) and higher energy direct lunar transfer and the use of longer duration Earth-Moon dynamical systems. For missions with an intended lunar orbit, much of the design process is spent optimizing a ballistic capture while other science locations such as Sun-Earth libration or heliocentric orbits may simply require a reduced Delta-V imparted at a convenient location along the trajectory.

  6. Lunar Cube Transfer Trajectory Options

    NASA Technical Reports Server (NTRS)

    Folta, David; Dichmann, Donald J.; Clark, Pamela; Haapala, Amanda; Howell, Kathleen

    2015-01-01

    Numerous Earth-Moon trajectory and lunar orbit options are available for Cubesat missions. Given the limited Cubesat injection infrastructure, transfer trajectories are contingent upon the modification of an initial condition of the injected or deployed orbit. Additionally, these transfers can be restricted by the selection or designs of Cubesat subsystems such as propulsion or communication. Nonetheless, many trajectory options can be considered which have a wide range of transfer durations, fuel requirements, and final destinations. Our investigation of potential trajectories highlights several options including deployment from low Earth orbit (LEO), geostationary transfer orbits (GTO), and higher energy direct lunar transfers and the use of longer duration Earth-Moon dynamical systems. For missions with an intended lunar orbit, much of the design process is spent optimizing a ballistic capture while other science locations such as Sun-Earth libration or heliocentric orbits may simply require a reduced Delta-V imparted at a convenient location along the trajectory.

  7. Personnel Preparation Options: Ideas from a Policy Options Conference.

    ERIC Educational Resources Information Center

    Gallagher, James J.; And Others

    This report summarizes discussions from a policy options conference devoted to the needs for personnel preparation related to the implementation of Public Law 99-457, Part H, which provides services to infants and toddlers with handicapping conditions and their families. The three policy questions identified as the most significant were: (1) what…

  8. Newer Management Options in Leprosy

    PubMed Central

    Rao, P Narasimha; Jain, Suman

    2013-01-01

    Newer management options are needed for leprosy control even at present, as it is predicted that new cases of leprosy will continue to appear for many more years in future. This article detail newer methods of clinical grading of peripheral nerve involvement (thickening, tenderness and nerve pain which are subjective in nature) and the advances made in the use of Ultrasonography and Colour Doppler as an objective imaging tool for nerves in leprosy. It also briefly discusses the newer drugs and alternative regimens as therapeutic management options which hold promise for leprosy in future. PMID:23372204

  9. Technetium removal: preliminary flowsheet options

    SciTech Connect

    Eager, K.M.

    1995-10-24

    This document presents the results of a preliminary investigation into options for preliminary flowsheets for 99Tc removal from Hanford Site tank waste. A model is created to show the path of 99Tc through pretreatment to disposal. The Tank Waste Remediation (TWRS) flowsheet (Orme 1995) is used as a baseline. Ranges of important inputs to the model are developed, such as 99Tc inventory in the tanks and important splits through the TWRS flowsheet. Several technetium removal options are discussed along with sensitivities of the removal schemes to important model parameters

  10. Design Evolution Study - Aging Options

    SciTech Connect

    P. McDaniel

    2002-04-05

    The purpose of this study is to identify options and issues for aging commercial spent nuclear fuel received for disposal at the Yucca Mountain Mined Geologic Repository. Some early shipments of commercial spent nuclear fuel to the repository may be received with high-heat-output (younger) fuel assemblies that will need to be managed to meet thermal goals for emplacement. The capability to age as much as 40,000 metric tons of heavy metal of commercial spent nuclear he1 would provide more flexibility in the design to manage this younger fuel and to decouple waste receipt and waste emplacement. The following potential aging location options are evaluated: (1) Surface aging at four locations near the North Portal; (2) Subsurface aging in the permanent emplacement drifts; and (3) Subsurface aging in a new subsurface area. The following aging container options are evaluated: (1) Complete Waste Package; (2) Stainless Steel inner liner of the waste package; (3) Dual Purpose Canisters; (4) Multi-Purpose Canisters; and (5) New disposable canister for uncanistered commercial spent nuclear fuel. Each option is compared to a ''Base Case,'' which is the expected normal waste packaging process without aging. A Value Engineering approach is used to score each option against nine technical criteria and rank the options. Open issues with each of the options and suggested future actions are also presented. Costs for aging containers and aging locations are evaluated separately. Capital costs are developed for direct costs and distributable field costs. To the extent practical, unit costs are presented. Indirect costs, operating costs, and total system life cycle costs will be evaluated outside of this study. Three recommendations for aging commercial spent nuclear fuel--subsurface, surface, and combined surface and subsurface are presented for further review in the overall design re-evaluation effort. Options that were evaluated but not recommended are: subsurface aging in a new

  11. 48 CFR 2917.207 - Exercising options.

    Code of Federal Regulations, 2011 CFR

    2011-10-01

    ... 48 Federal Acquisition Regulations System 7 2011-10-01 2011-10-01 false Exercising options. 2917... AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 2917.207 Exercising options. The contracting officer must use a standardized determination and finding before exercising an option in accordance...

  12. 48 CFR 2917.207 - Exercising options.

    Code of Federal Regulations, 2010 CFR

    2010-10-01

    ... 48 Federal Acquisition Regulations System 7 2010-10-01 2010-10-01 false Exercising options. 2917... AND CONTRACT TYPES SPECIAL CONTRACTING METHODS Options 2917.207 Exercising options. The contracting officer must use a standardized determination and finding before exercising an option in accordance...

  13. 17 CFR 32.3 - Trade options.

    Code of Federal Regulations, 2013 CFR

    2013-04-01

    ... 17 Commodity and Securities Exchanges 1 2013-04-01 2013-04-01 false Trade options. 32.3 Section 32... OPTION TRANSACTIONS § 32.3 Trade options. (a) Subject to paragraphs (b), (c), and (d) of this section... period preceding the date on which the trade option is entered into, (iv) In connection with any...

  14. 17 CFR 32.3 - Trade options.

    Code of Federal Regulations, 2014 CFR

    2014-04-01

    ... 17 Commodity and Securities Exchanges 1 2014-04-01 2014-04-01 false Trade options. 32.3 Section 32... OPTION TRANSACTIONS § 32.3 Trade options. (a) Subject to paragraphs (b), (c), and (d) of this section... period preceding the date on which the trade option is entered into, (iv) In connection with any...

  15. Minnesota's Public School Choice Options.

    ERIC Educational Resources Information Center

    Colopy, Kelly W.; Tarr, Hope C.

    This document presents findings of a study that identified patterns of use among a broad array of open-enrollment options available to elementary and secondary students in Minnesota. During the period 1985-91, the Minnesota legislature passed several pieces of new legislation designed to: (1) increase the educational choices available to students,…

  16. 77 FR 25319 - Commodity Options

    Federal Register 2010, 2011, 2012, 2013, 2014

    2012-04-27

    ... Recordkeeping, 76 FR 29818, May 23, 2011 (``Product Definitions NPRM''). The final rule and interpretations that... not applicable. \\7\\ Commodity Options and Agricultural Swaps, 76 FR 6095, Feb. 3, 2011. Note that in... 10, 2011 and are not addressed herein. See Agricultural Swaps, 76 FR 49291, Aug. 10, 2011...

  17. Options for English Language Learners

    ERIC Educational Resources Information Center

    Minaya-Rowe, Liliana

    2008-01-01

    Between 69 percent and 90 percent of English language learners (ELLs) in middle and high schools were born in the United States and have been in U.S. schools since kindergarten still have not achieved the academic proficiency to succeed in an all-English mainstream program. Various ELL program options are available for school districts to…

  18. Exploring Higher Education Financing Options

    ERIC Educational Resources Information Center

    Nkrumah-Young, Kofi K.; Powell, Philip

    2011-01-01

    Higher education can be financed privately, financed by governments, or shared. Given that the benefits of education accrue to the individual and the state, many governments opt for shared financing. This article examines the underpinnings of different options for financing higher education and develops a model to compare conditions to choices and…

  19. Tool for Ranking Research Options

    NASA Technical Reports Server (NTRS)

    Ortiz, James N.; Scott, Kelly; Smith, Harold

    2005-01-01

    Tool for Research Enhancement Decision Support (TREDS) is a computer program developed to assist managers in ranking options for research aboard the International Space Station (ISS). It could likely also be adapted to perform similar decision-support functions in industrial and academic settings. TREDS provides a ranking of the options, based on a quantifiable assessment of all the relevant programmatic decision factors of benefit, cost, and risk. The computation of the benefit for each option is based on a figure of merit (FOM) for ISS research capacity that incorporates both quantitative and qualitative inputs. Qualitative inputs are gathered and partly quantified by use of the time-tested analytical hierarchical process and used to set weighting factors in the FOM corresponding to priorities determined by the cognizant decision maker(s). Then by use of algorithms developed specifically for this application, TREDS adjusts the projected benefit for each option on the basis of levels of technical implementation, cost, and schedule risk. Based partly on Excel spreadsheets, TREDS provides screens for entering cost, benefit, and risk information. Drop-down boxes are provided for entry of qualitative information. TREDS produces graphical output in multiple formats that can be tailored by users.

  20. Option trading and oil futures markets

    SciTech Connect

    Chassard, C.; Halliwell, M.

    1986-01-01

    This book describes mechanics of options trading, particularly their use to complement trading in oil futures and forward markets to increase agents' flexibility in hedging against price risks. The main determinants of option premiums and a number of option pricing models are discussed as are the Black and Scholes Model, issues of options and oil-indexed bonds: The Philbro Proposal, NYMEX Crude Oil Option Contract and Standard Oil Issue.

  1. Climate Change: The Evidence and Our Options

    PubMed Central

    Thompson, Lonnie G

    2010-01-01

    Glaciers serve as early indicators of climate change. Over the last 35 years, our research team has recovered ice-core records of climatic and environmental variations from the polar regions and from low-latitude high-elevation ice fields from 16 countries. The ongoing widespread melting of high-elevation glaciers and ice caps, particularly in low to middle latitudes, provides some of the strongest evidence to date that a large-scale, pervasive, and, in some cases, rapid change in Earth's climate system is underway. This paper highlights observations of 20th and 21st century glacier shrinkage in the Andes, the Himalayas, and on Mount Kilimanjaro. Ice cores retrieved from shrinking glaciers around the world confirm their continuous existence for periods ranging from hundreds of years to multiple millennia, suggesting that climatological conditions that dominate those regions today are different from those under which these ice fields originally accumulated and have been sustained. The current warming is therefore unusual when viewed from the millennial perspective provided by multiple lines of proxy evidence and the 160-year record of direct temperature measurements. Despite all this evidence, plus the well-documented continual increase in atmospheric greenhouse gas concentrations, societies have taken little action to address this global-scale problem. Hence, the rate of global carbon dioxide emissions continues to accelerate. As a result of our inaction, we have three options: mitigation, adaptation, and suffering. PMID:22532707

  2. Research Grants: Problems and Options.

    ERIC Educational Resources Information Center

    Martin, Brian

    2000-01-01

    Provides a broader perspective on research grants. Outlines several key types of problems with grant schemes (bias, waste, discouragement, orientation to interests) and presents several methods for decision making (administrative decision, peer review, performance-based funding, equality, community-based allocation). Assesses recent changes in…

  3. Pawnee Nation Energy Option Analyses

    SciTech Connect

    Matlock, M.; Kersey, K.; Riding In, C.

    2009-07-31

    In 2003, the Pawnee Nation leadership identified the need for the tribe to comprehensively address its energy issues. During a strategic energy planning workshop a general framework was laid out and the Pawnee Nation Energy Task Force was created to work toward further development of the tribe’s energy vision. The overarching goals of the “first steps” project were to identify the most appropriate focus for its strategic energy initiatives going forward, and to provide information necessary to take the next steps in pursuit of the “best fit” energy options. Based on the request of Pawnee Nation’s Energy Task Force the research team, consisting Tribal personnel and Summit Blue Consulting, focused on a review of renewable energy resource development potential, funding sources and utility organizational along with energy savings options. Elements of the energy demand forecasting and characterization and demand side options review remained in the scope of work, but were only addressed at a high level. Description of Activities Performed Renewable Energy Resource Development Potential The research team reviewed existing data pertaining to the availability of biomass (focusing on woody biomass, agricultural biomass/bio-energy crops, and methane capture), solar, wind and hydropower resources on the Pawnee-owned lands. Using these data, combined with assumptions about costs and revenue streams, the research team performed preliminary feasibility assessments for each resource category. The research team also reviewed available funding resources and made recommendations to Pawnee Nation highlighting those resources with the greatest potential for financially-viable development, both in the near-term and over a longer time horizon. Energy Efficiency Options While this was not a major focus of the project, the research team highlighted common strategies for reducing energy use in buildings. The team also discussed the benefits of adopting a building energy code and

  4. Rowing competitions and perspective

    NASA Astrophysics Data System (ADS)

    Flores, Alfinio; Bernhardt, Stephen A.; Shipman, Henry L.

    2015-02-01

    This paper is about integrating the use of graphing technology (specifically, GeoGebra) with principles of motion, principles of perspective, and the concept of vanishing points to model a dynamic event. Students were asked to analyse video images of a rowing competition filmed with a single camera positioned perpendicular to the race. The fixed position of the camera in such races makes it difficult to determine whether a scull closer to the camera is actually overtaking another, more distant scull. The paper illustrates how students in their first year at the university can integrate the use of technology, science, mathematics, and writing to solve a real world problem involving motion.

  5. Dynamic option pricing with endogenous stochastic arbitrage

    NASA Astrophysics Data System (ADS)

    Contreras, Mauricio; Montalva, Rodrigo; Pellicer, Rely; Villena, Marcelo

    2010-09-01

    Only few efforts have been made in order to relax one of the key assumptions of the Black-Scholes model: the no-arbitrage assumption. This is despite the fact that arbitrage processes usually exist in the real world, even though they tend to be short-lived. The purpose of this paper is to develop an option pricing model with endogenous stochastic arbitrage, capable of modelling in a general fashion any future and underlying asset that deviate itself from its market equilibrium. Thus, this investigation calibrates empirically the arbitrage on the futures on the S&P 500 index using transaction data from September 1997 to June 2009, from here a specific type of arbitrage called “arbitrage bubble”, based on a t-step function, is identified and hence used in our model. The theoretical results obtained for Binary and European call options, for this kind of arbitrage, show that an investment strategy that takes advantage of the identified arbitrage possibility can be defined, whenever it is possible to anticipate in relative terms the amplitude and timespan of the process. Finally, the new trajectory of the stock price is analytically estimated for a specific case of arbitrage and some numerical illustrations are developed. We find that the consequences of a finite and small endogenous arbitrage not only change the trajectory of the asset price during the period when it started, but also after the arbitrage bubble has already gone. In this context, our model will allow us to calibrate the B-S model to that new trajectory even when the arbitrage already started.

  6. Implementation of power barrier option valuation

    NASA Astrophysics Data System (ADS)

    Cahyani, Agatha C. P.; Sumarti, Novriana

    2015-09-01

    Options are financial instruments that can be utilized to reduce risk in stock investment. Barrier options are one of the major types of options actively used in financial markets where its life period depends on the path of the underlying stock prices. The features of the barrier option can be used to modify other types of options. In this research, the barrier option will be implemented into power option, so it is called power barrier option. This option is an extension of the vanilla barrier options where the Call payoff being considered is defined as P C =max (STβ-Kβ,0 ) , and the Put payoff being considered is defined as P P =max (Kβ-STβ,0 ) . Here β > 0 and β ≠ 1, K is the strike price of the option, and ST is the price of the underlying stock at time maturity T. In this paper, we generate the prices of stock using binomial method which is adjusted to the power option. In the conclusion, the price of American power barrier option is more expensive than the price of European power barrier option.

  7. Wastewater treatment plant cogeneration options

    SciTech Connect

    Stringfield, J.G.

    1995-12-31

    This paper reviews municipal sewage cogeneration and digester gas utilization options available to wastewater treatment plants, and will focus on utilizing the digester gas in combustion turbines and engine-generator systems. Defining the digestion and gas generation process is crucial to understanding the best gas utilization system. In municipal wastewater treatment plants biosolids (sludge) reduction is accomplished using aerobic or anaerobic digestion. The basic process of treating sewage solids with digestion is not new and has been practiced as far back as the nineteenth century. High energy usage consumed by aerobic blow systems supplying air to the process and the potential ``free`` energy generated by anaerobic digesters sometimes sways designers to select anaerobic over aerobic digestion. The following areas will be covered in this paper: gas utilization and cogeneration; definition of digestion process; sizing the cogeneration system and reviewing the systems components; emissions requirements and options; and capital, and O and M cost analysis.

  8. Managing Nuclear Waste: Options Considered

    SciTech Connect

    DOE

    2002-05-02

    Starting in the 1950s, U.S. scientists began to research ways to manage highly radioactive materials accumulating at power plants and other sites nationwide. Long-term surface storage of these materials poses significant potential health, safety, and environmental risks. Scientists studied a broad range of options for managing spent nuclear fuel and high-level radioactive waste. The options included leaving it where it is, disposing of it in various ways, and making it safer through advanced technologies. International scientific consensus holds that these materials should eventually be disposed of deep underground in what is called a geologic repository. In a recent special report, the National Academy of Sciences summarized the various studies and emphasized that geologic disposal is ultimately necessary.

  9. Emerging Options for Emergency Contraception

    PubMed Central

    Koyama, Atsuko; Hagopian, Laura; Linden, Judith

    2013-01-01

    Emergency post-coital contraception (EC) is an effective method of preventing pregnancy when used appropriately. EC has been available since the 1970s, and its availability and use have become widespread. Options for EC are broad and include the copper intrauterine device (IUD) and emergency contraceptive pills such as levonorgestrel, ulipristal acetate, combined oral contraceptive pills (Yuzpe method), and less commonly, mifepristone. Some options are available over-the-counter, while others require provider prescription or placement. There are no absolute contraindications to the use of emergency contraceptive pills, with the exception of ulipristal acetate and mifepristone. This article reviews the mechanisms of action, efficacy, safety, side effects, clinical considerations, and patient preferences with respect to EC usage. The decision of which regimen to use is influenced by local availability, cost, and patient preference. PMID:24453516

  10. [Melanoma brain metastases : Treatment options].

    PubMed

    Rauschenberg, R; Tabatabai, G; Troost, E G C; Garzarolli, M; Beissert, S; Meier, F

    2016-07-01

    The majority of patients with metastatic melanoma will develop brain metastases, which are the most common cause of death. Until recently, local therapies (e. g., neurosurgery, radiotherapy) were the only options for brain metastases; however, effective systemic treatment options are now available. Upon suspicion of brain metastases, diagnostic staging with brain MRI and a neurological investigation are indicated. Prognostic factors such as number of cerebral metastases and symptoms, serum lactate dehydrogenase and S‑100 levels, extracerebral metastases, and ECOG status are considered during therapeutic planning. Treatment planning and therapeutic interventions should be based on an interdisciplinary and multimodal approach. Established treatments for singular brain metastases are neurosurgical resection and stereotactic radiotherapy, which can prolong survival. In patients with asymptomatic BRAF V600E-mutant brain metastases, the BRAF inhibitors dabrafenib, vemurafenib, and immunotherapy with ipilimumab are used. In the case of multiple symptomatic brain metastases, palliative whole-brain radiotherapy is used for treatment, although it has failed to show an overall survival benefit. Increased intracranial pressure and epileptic seizures are addressed with corticosteroids and anticonvulsants. Current clinical studies for melanoma patients with brain metastases are investigating new treatment options such as PD-1 antibodies, combined ipilimumab and nivolumab, combined BRAF inhibitors and MEK inhibitors, and stereotactic radiation in combination with immunotherapy or targeted therapy. PMID:27206449

  11. Fertility options in transgender people.

    PubMed

    De Roo, Chloë; Tilleman, Kelly; T'Sjoen, Guy; De Sutter, Petra

    2016-01-01

    Hormonal and surgical treatments for transgender people have a devastating effect on the possibility for these patients to reproduce. Additionally, transgender people tend to start sex reassignment treatment at a young age, when reproductive wishes are not yet clearly defined nor fulfilled. The most recent Standards of Care of the World Professional Association for Transgender Health recommend clearly informing patients regarding their future reproductive options prior to initiation of treatment. This review gives an overview of the current knowledge and state-of-the-art techniques in the field of fertility preservation for transgender people. Where genital reconstructive surgery definitely results in sterility, hormone therapy on the other hand also has an important, but partially reversible impact on fertility. The current fertility preservation options for trans men are embryo cryopreservation, oocyte cryopreservation and ovarian tissue cryopreservation. For trans women, sperm cryopreservation, surgical sperm extraction and testicular tissue cryopreservation are possible. Although certain fertility preservation techniques could be applicable in a standardized manner based on clear biological criteria, the technique that eventually will be performed should be the preferred choice of the patient after extended explanation of all possible options. PMID:26835612

  12. Stock and option portfolio using fuzzy logic approach

    NASA Astrophysics Data System (ADS)

    Sumarti, Novriana; Wahyudi, Nanang

    2014-03-01

    Fuzzy Logic in decision-making process has been widely implemented in various problems in industries. It is the theory of imprecision and uncertainty that was not based on probability theory. Fuzzy Logic adds values of degree between absolute true and absolute false. It starts with and builds on a set of human language rules supplied by the user. The fuzzy systems convert these rules to their mathematical equivalents. This could simplify the job of the system designer and the computer, and results in much more accurate representations of the way systems behave in the real world. In this paper we examine the decision making process of stock and option trading by the usage of MACD (Moving Average Convergence Divergence) technical analysis and Option Pricing with Fuzzy Logic approach. MACD technical analysis is for the prediction of the trends of underlying stock prices, such as bearish (going downward), bullish (going upward), and sideways. By using Fuzzy C-Means technique and Mamdani Fuzzy Inference System, we define the decision output where the value of MACD is high then decision is "Strong Sell", and the value of MACD is Low then the decision is "Strong Buy". We also implement the fuzzification of the Black-Scholes option-pricing formula. The stock and options methods are implemented on a portfolio of one stock and its options. Even though the values of input data, such as interest rates, stock price and its volatility, cannot be obtain accurately, these fuzzy methods can give a belief degree of the calculated the Black-Scholes formula so we can make the decision on option trading. The results show the good capability of the methods in the prediction of stock price trends. The performance of the simulated portfolio for a particular period of time also shows good return.

  13. Community perspectives

    NASA Technical Reports Server (NTRS)

    1975-01-01

    General aviation is considered from the perspective of the local community's decision-making process in determining its needs for access to general aviation services. The decision-making model, preliminary decision, community characteristics, and planning processes are discussed.

  14. Lunar Cube Transfer Trajectory Options

    NASA Technical Reports Server (NTRS)

    Folta, David C.; Dichman, Don; Clark, Pamela; Haapala, Amanda; Howell, Kathleen

    2014-01-01

    Contingent upon the modification of an initial condition of the injected or deployed orbit. Additionally, these designs can be restricted by the selection of the Cubesat subsystem design such as propulsion or communication. Nonetheless, many trajectory options can be designed with have a wide range of transfer durations, fuel requirements, and final destinations. Our investigation of potential trajectories highlights several design options including deployment into low Earth orbit (LEO), geostationary transfer orbits (GTO), and higher energy direct lunar transfer orbits. In addition to direct transfer options from these initial orbits, we also investigate the use of longer duration Earth-Moon dynamical systems. For missions with an intended lunar orbit, much of the design process is spent optimizing a ballistic capture while other science locations such as Sun-Earth libration or heliocentric orbits may simply require a reduced Delta-V imparted at a convenient location along the trajectory. In this article we examine several design options that meet the above limited deployment and subsystem drivers. We study ways that both impulsive and low-thrust Solar Electric Propulsion (SEP) engines can be used to place the Cubesat first into a highly eccentric Earth orbit, enter the Moon's Sphere of Influence, and finally achieve a highly eccentric lunar orbit. We show that such low-thrust transfers are feasible with a realistic micro-thruster model, assuming that the Cubesat can generate sufficient power for the SEP. Two examples are shown here: (1) A Cubestat injected by Exploration Mission 1 (EM-1) then employing low thrust; and (2) a CubSat deployed in a GTO, then employing impulsive maneuvers. For the EM-1 injected initial design, we increase the EM-1 targeted lunar flyby distance to reduce the energy of the lunar flyby to match that of a typical lMoon system heteroclinic manifold. Figure 1 presents an option that encompasses the similar dynamics as that of the ARTEMIS

  15. Real Estate Education: A Curriculum Guide for a Two-year Post Secondary Program.

    ERIC Educational Resources Information Center

    Overton, R. Jean

    This curriculum guide was designed to assist in the development of associate degree programs and/or options for real estate education in North Carolina community colleges. The real estate education program prescribed by this guide spans six academic quarters. The 28 courses listed cover such subject areas as real estate fundamentals, human…

  16. System evaluations of laser power beaming options

    NASA Technical Reports Server (NTRS)

    Montgomery, Edward E., IV

    1992-01-01

    The major technology options for high-energy FELs and adaptive optics available to the Space Laser Energy (SELENE) program are reviewed. Initial system evaluations of these options are described. A feasibility assessment of laser power beaming is given.

  17. Using Priced Options to Solve the Exposure Problem in Sequential Auctions

    NASA Astrophysics Data System (ADS)

    Mous, Lonneke; Robu, Valentin; La Poutré, Han

    This paper studies the benefits of using priced options for solving the exposure problem that bidders with valuation synergies face when participating in multiple, sequential auctions. We consider a model in which complementary-valued items are auctioned sequentially by different sellers, who have the choice of either selling their good directly or through a priced option, after fixing its exercise price. We analyze this model from a decision-theoretic perspective and we show, for a setting where the competition is formed by local bidders, that using options can increase the expected profit for both buyers and sellers. Furthermore, we derive the equations that provide minimum and maximum bounds between which a synergy buyer's bids should fall in order for both sides to have an incentive to use the options mechanism. Next, we perform an experimental analysis of a market in which multiple synergy bidders are active simultaneously.

  18. Options contracts in the nuclear fuel industry

    SciTech Connect

    Fuller, D.M.

    1995-04-01

    This article discusses options trading in the nuclear fuels industry. Although there now exists no formal options market in the nuclear industry, flexibilities, or embedded options, are actually quite common in the long-term supply contracts. The value of these flexibilities can be estimated by applying the methods used to evaluate options. The method used is the Black-Scholes Model, and it is applied to a number of examples.

  19. Numerical Algorithm for Delta of Asian Option.

    PubMed

    Zhang, Boxiang; Yu, Yang; Wang, Weiguo

    2015-01-01

    We study the numerical solution of the Greeks of Asian options. In particular, we derive a close form solution of Δ of Asian geometric option and use this analytical form as a control to numerically calculate Δ of Asian arithmetic option, which is known to have no explicit close form solution. We implement our proposed numerical method and compare the standard error with other classical variance reduction methods. Our method provides an efficient solution to the hedging strategy with Asian options. PMID:26266271

  20. Numerical Algorithm for Delta of Asian Option

    PubMed Central

    Zhang, Boxiang; Yu, Yang; Wang, Weiguo

    2015-01-01

    We study the numerical solution of the Greeks of Asian options. In particular, we derive a close form solution of Δ of Asian geometric option and use this analytical form as a control to numerically calculate Δ of Asian arithmetic option, which is known to have no explicit close form solution. We implement our proposed numerical method and compare the standard error with other classical variance reduction methods. Our method provides an efficient solution to the hedging strategy with Asian options. PMID:26266271

  1. Correlated continuous time random walk and option pricing

    NASA Astrophysics Data System (ADS)

    Lv, Longjin; Xiao, Jianbin; Fan, Liangzhong; Ren, Fuyao

    2016-04-01

    In this paper, we study a correlated continuous time random walk (CCTRW) with averaged waiting time, whose probability density function (PDF) is proved to follow stretched Gaussian distribution. Then, we apply this process into option pricing problem. Supposing the price of the underlying is driven by this CCTRW, we find this model captures the subdiffusive characteristic of financial markets. By using the mean self-financing hedging strategy, we obtain the closed-form pricing formulas for a European option with and without transaction costs, respectively. At last, comparing the obtained model with the classical Black-Scholes model, we find the price obtained in this paper is higher than that obtained from the Black-Scholes model. A empirical analysis is also introduced to confirm the obtained results can fit the real data well.

  2. Pawnee Nation Energy Option Analyses

    SciTech Connect

    Matlock, M.; Kersey, K.; Riding In, C.

    2009-07-21

    Pawnee Nation of Oklahoma Energy Option Analyses In 2003, the Pawnee Nation leadership identified the need for the tribe to comprehensively address its energy issues. During a strategic energy planning workshop a general framework was laid out and the Pawnee Nation Energy Task Force was created to work toward further development of the tribe’s energy vision. The overarching goals of the “first steps” project were to identify the most appropriate focus for its strategic energy initiatives going forward, and to provide information necessary to take the next steps in pursuit of the “best fit” energy options. Description of Activities Performed The research team reviewed existing data pertaining to the availability of biomass (focusing on woody biomass, agricultural biomass/bio-energy crops, and methane capture), solar, wind and hydropower resources on the Pawnee-owned lands. Using these data, combined with assumptions about costs and revenue streams, the research team performed preliminary feasibility assessments for each resource category. The research team also reviewed available funding resources and made recommendations to Pawnee Nation highlighting those resources with the greatest potential for financially-viable development, both in the near-term and over a longer time horizon. Findings and Recommendations Due to a lack of financial incentives for renewable energy, particularly at the state level, combined mediocre renewable energy resources, renewable energy development opportunities are limited for Pawnee Nation. However, near-term potential exists for development of solar hot water at the gym, and an exterior wood-fired boiler system at the tribe’s main administrative building. Pawnee Nation should also explore options for developing LFGTE resources in collaboration with the City of Pawnee. Significant potential may also exist for development of bio-energy resources within the next decade. Pawnee Nation representatives should closely monitor

  3. Flexible Work Options within the Organisational System

    ERIC Educational Resources Information Center

    Albion, Majella J.; Chee, Munli

    2006-01-01

    The availability of flexible work options provides an opportunity for individuals to shape their careers in order to optimise their work and life goals. This study takes a systems theory approach to examine how the use of flexible work options influences relationships and interactions in the workplace. The "Flexible Work Options Questionnaire"…

  4. 24 CFR 221.775 - Option period.

    Code of Federal Regulations, 2010 CFR

    2010-04-01

    ... 24 Housing and Urban Development 2 2010-04-01 2010-04-01 false Option period. 221.775 Section 221.775 Housing and Urban Development Regulations Relating to Housing and Urban Development (Continued... § 221.775 Option period. The mortgagee may exercise its option to assign within one year following...

  5. 78 FR 7997 - Noncompensatory Partnership Options

    Federal Register 2010, 2011, 2012, 2013, 2014

    2013-02-05

    ...This document contains final regulations relating to the tax treatment of noncompensatory options and convertible instruments issued by a partnership. The final regulations generally provide that the exercise of a noncompensatory option does not cause the recognition of immediate income or loss by either the issuing partnership or the option holder. The final regulations also modify the......

  6. Rocket based combined cycle (RBCC) propulsion systems offer additional options

    NASA Astrophysics Data System (ADS)

    Czysz, Paul A.

    The propulsion cycles presented at the 1991 IAF Congress in Montreal, and at The World Hydrogen Conference 1992 in Paris were the subject of an IAF paper for the 1992 World Space Conference in Washington DC. RBCC propulsion systems from several nations were analyzed in terms of a SSTO space launcher with a 7-Mg payload. The RBCC concept emerged from the advanced injector ramjet research of the early 1960s. The performance of the current RBCC propulsion systems such that the specific thrust of a rocket is combined with the specific impulse of an airbreather. This performance offers a new perspective to the options available. In a brief review of the present RBCC the reasons for these options are developed. The spectrum of the system options is presented in three examples, a LACE VTOL SSTO, an HTOL SSTO and a HTOL TSTO. Results using the present RBCC are dramatically different from the past concept of the Conventional Combined Cycle propulsion system, i.e., combinations of separate engines. The integration of the engine cycles into a single thermodynamically integrated system significantly changes the propulsion performance.

  7. Earth vicinity trades and options

    NASA Technical Reports Server (NTRS)

    Stump, William R.; Babb, Gus R.; Davis, Hubert P.

    1986-01-01

    The options for recovering a returned manned Mars spacecraft are surveyed. Earth parking orbits from libration point to low circular are discussed, with a 500 km perigee, 24 hour period elliptical orbit chosen as a baseline for further calculation. Several techniques for recovering up to 100 metric tons of returned spacecraft are investigated, including recovery by a low Earth orbit (LEO) based orbit transfer vehicle (OTV) pushing the spacecraft to LEO, and OTV transporting and aerobrake to the spacecraft, and an OTV delivering propellant to the spacecraft. Methods utilizing OTVs results in less total mass in LEO, but may not be the minimum cost solutions if significant development and testing are required.

  8. Space Station power system options

    SciTech Connect

    Baraona, C.R.; Forestieri, A.F.

    1984-08-01

    This paper outlines the strategies, reasoning, and planning guidelines used in the development of the United States Space Station Program. The power required to support Space Station missions and housekeeping loads is a key driver in overall Space Station design. Conversely, Space Station requirements drive the power technology. Various power system technology options are discussed. The mission analysis studies resulting in the required Space Station capabilities are also discussed. An example of Space Station functions and a concept to provide them is presented. The weight, area, payload and altitude requirements on drag and mass requirements are described in this paper with a summary and status of key power systems technology requirements and issues.

  9. Sustained-Release Corticosteroid Options

    PubMed Central

    Cabrera, Mariana; Yeh, Steven; Albini, Thomas A.

    2014-01-01

    Sustained-release corticosteroid treatment has shown to be a promising strategy for macular edema due to retinovascular disease (i.e., diabetes and retinal vein occlusion) and for the treatment of noninfectious posterior uveitis. Clinicians now have the option of three sustained-release corticosteroid implants: Ozurdex (Allergan Inc., Irvine, CA) which releases dexamethasone and two devices that release fluocinolone acetonide, Retisert (Bausch & Lomb, Rochester, NY), and Iluvien (Alimera Science, Alpharetta, GA). Each has different physical characteristics and duration effect and has been approved for different indications. Herein we provide a summary of the current clinical knowledge regarding these implants. PMID:25140246

  10. Minneapolis district-heating options

    NASA Astrophysics Data System (ADS)

    Stovall, T. K.; Borkowski, R. J.; Karnitz, M. A.; Strom, S.; Linwick, K.

    1981-10-01

    The feasibility of a large-scale district heating system for the Minneapolis central city area was investigated. The analysis was based on a previous city of St. Paul Hot-water district heating study and other studies done by a Swedish engineering firm. Capital costs such as building and heat source conversion, pipeline construction, and equipment were used in comparing the projected expenses of various district heating scenarios. Options such as coal, refuse-derived fuel burning, and cogeneration at the Riverside Power Station were discussed as energy supplies for a cost-effective district heating system.