scholarly journals A class of solvable multidimensional stopping problems in the presence of Knightian uncertainty

2021 ◽  
Vol 53 (2) ◽  
pp. 400-424
Author(s):  
Luis H. R. Alvarez E. ◽  
Sören Christensen
Keyword(s):  
Knightian Uncertainty ◽  
Optimal Timing ◽  
Radial Part ◽  
Worst Case ◽  
Underlying Factor ◽  
Excessive Functions ◽  
The Impact ◽  
Linear Diffusions ◽  
Stationary Behavior

AbstractWe investigate the impact of Knightian uncertainty on the optimal timing policy of an ambiguity-averse decision-maker in the case where the underlying factor dynamics follow a multidimensional Brownian motion and the exercise payoff depends on either a linear combination of the factors or the radial part of the driving factor dynamics. We present a general characterization of the value of the optimal timing policy and the worst-case measure in terms of a family of explicitly identified excessive functions generating an appropriate class of supermartingales. In line with previous findings based on linear diffusions, we find that ambiguity accelerates timing in comparison with the unambiguous setting. Somewhat surprisingly, we find that ambiguity may lead to stationarity in models which typically do not possess stationary behavior. In this way, our results indicate that ambiguity may act as a stabilizing mechanism.

LIFETIME CONSUMPTION AND INVESTMENT FOR WORST-CASE CRASH SCENARIOS

2015 ◽  
Vol 18 (01) ◽  
pp. 1550004 ◽  
Author(s):  
SASCHA DESMETTRE ◽  
RALF KORN ◽  
FRANK THOMAS SEIFRIED
Keyword(s):  
Portfolio Choice ◽  
Closed Form Solution ◽  
Form Solution ◽  
Optimal Consumption ◽  
Worst Case ◽  
Portfolio Decisions ◽  
Portfolio Strategy ◽  
Crash Exposure ◽  
The Impact

We investigate worst-case optimal consumption and portfolio decisions under the threat of a market crash on an infinite time horizon. We provide a closed-form solution for constant relative risk aversion and establish a rigorous verification result. More specifically, using martingale arguments we demonstrate that the optimal consumption-portfolio strategy can be characterized as the indifference strategy that achieves the best performance in the no-crash scenario. In addition, we find a dual characterization of the optimal strategy as the indifference strategy that minimizes the crash exposure. Finally, we quantify the impact of the crash on consumption and portfolio choice and analyze it in terms of the investor's risk and time preferences and prudence.

The Analyses of Learning Strategies in English as a Second Language: Theoretical Classification and Measurement Test

2020 ◽  
Vol 4 (2) ◽  
pp. 118-129
Author(s):  
Asti Gumartifa ◽  
◽  
Indah Windra Dwie Agustiani
Keyword(s):  
Language Learning ◽  
Learning Outcomes ◽  
Learning Strategies ◽  
Learning Process ◽  
English Learners ◽  
English Language ◽  
Point Of View ◽  
Effective Learning ◽  
The Impact

Gaining English language learning effectively has been discussed all years long. Similarly, Learners have various troubles outcomes in the learning process. Creating a joyful and comfortable situation must be considered by learners. Thus, the implementation of effective learning strategies is certainly necessary for English learners. This descriptive study has two purposes: first, to introduce the classification and characterization of learning strategies such as; memory, cognitive, metacognitive, compensation, social, and affective strategies that are used by learners in the classroom and second, it provides some questionnaires item based on Strategy of Inventory for Language Learning (SILL) version 5.0 that can be used to examine the frequency of students’ learning strategies in the learning process. The summary of this study explains and discusses the researchers’ point of view on the impact of learning outcomes by learning strategies used. Finally, utilizing appropriate learning strategies are certainly beneficial for both teachers and learners to achieve the learning target effectively.

scholarly journals Modulation of Gut Microbiota and Oxidative Status by β-Carotene in Late Pregnant Sows

2020 ◽  
Vol 7 ◽  
Author(s):  
Xupeng Yuan ◽  
Jiahao Yan ◽  
Ruizhi Hu ◽  
Yanli Li ◽  
Ying Wang ◽  
...  
Keyword(s):  
Gut Microbiota ◽  
Dietary Supplementation ◽  
Basal Diet ◽  
Fecal Microbiota ◽  
Control Group ◽  
Metabolic Activities ◽  
The Impact ◽  
Positive Effect ◽  
Β Carotene

Recent evidences suggest that gut microbiota plays an important role in regulating physiological and metabolic activities of pregnant sows, and β-carotene has a potentially positive effect on reproduction, but the impact of β-carotene on gut microbiota in pregnant sows remains unknown. This study aimed to explore the effect and mechanisms of β-carotene on the reproductive performance of sows from the aspect of gut microbiota. A total of 48 hybrid pregnant sows (Landrace × Yorkshire) with similar parity were randomly allocated into three groups (n = 16) and fed with a basal diet or a diet containing 30 or 90 mg/kg of β-carotene from day 90 of gestation until parturition. Dietary supplementation of 30 or 90 mg/kg β-carotene increased the number of live birth to 11.82 ± 1.54 and 12.29 ± 2.09, respectively, while the control group was 11.00 ± 1.41 (P = 0.201). Moreover, β-carotene increased significantly the serum nitric oxide (NO) level and glutathione peroxidase (GSH-Px) activity (P < 0.05). Characterization of fecal microbiota revealed that 90 mg/kg β-carotene increased the diversity of the gut flora (P < 0.05). In particular, β-carotene decreased the relative abundance of Firmicutes including Lachnospiraceae AC2044 group, Lachnospiraceae NK4B4 group and Ruminococcaceae UCG-008, but enriched Proteobacteria including Bilophila and Sutterella, and Actinobacteria including Corynebacterium and Corynebacterium 1 which are related to NO synthesis. These data demonstrated that dietary supplementation of β-carotene may increase antioxidant enzyme activity and NO, an important vasodilator to promote the neonatal blood circulation, through regulating gut microbiota in sows.

scholarly journals Clonal approaches to understanding the impact of mutations on hematologic disease development

Blood ◽  
2019 ◽  
Vol 133 (13) ◽  
pp. 1436-1445 ◽  
Author(s):  
Jyoti Nangalia ◽  
Emily Mitchell ◽  
Anthony R. Green
Keyword(s):  
Somatic Mutations ◽  
Clonal Selection ◽  
Single Cells ◽  
Driver Mutations ◽  
Great Promise ◽  
Tumor Evolution ◽  
Disease Development ◽  
Hematopoietic Tissue ◽  
The Impact

Abstract Interrogation of hematopoietic tissue at the clonal level has a rich history spanning over 50 years, and has provided critical insights into both normal and malignant hematopoiesis. Characterization of chromosomes identified some of the first genetic links to cancer with the discovery of chromosomal translocations in association with many hematological neoplasms. The unique accessibility of hematopoietic tissue and the ability to clonally expand hematopoietic progenitors in vitro has provided fundamental insights into the cellular hierarchy of normal hematopoiesis, as well as the functional impact of driver mutations in disease. Transplantation assays in murine models have enabled cellular assessment of the functional consequences of somatic mutations in vivo. Most recently, next-generation sequencing–based assays have shown great promise in allowing multi-“omic” characterization of single cells. Here, we review how clonal approaches have advanced our understanding of disease development, focusing on the acquisition of somatic mutations, clonal selection, driver mutation cooperation, and tumor evolution.

scholarly journals Exploring the Characteristics and Influencing Factors of Leisure Walking Based on the Demand of Behavior

2021 ◽  
Vol 13 (8) ◽  
pp. 4105
Author(s):  
Yupei Jiang ◽  
Honghu Sun
Keyword(s):  
Health Benefits ◽  
Health Benefit ◽  
Public Health Research ◽  
Space Time ◽  
Time Behavior ◽  
Walking Behavior ◽  
Face To Face ◽  
Residential Neighborhood ◽  
The Impact

Leisure walking has been an important topic in space-time behavior and public health research. However, prior studies pay little attention to the integration and the characterization of diverse and multilevel demands of leisure walking. This study constructs a theoretical framework of leisure walking behavior demands from three different dimensions and levels of activity participation, space-time opportunity, and health benefit. On this basis, through a face-to-face survey in Nanjing, China (N = 1168, 2017–2018 data), this study quantitatively analyzes the characteristics of leisure walking demands, as well as the impact of the built environment and individual factors on it. The results show that residents have a high demand for participation and health benefits of leisure walking. The residential neighborhood provides more space opportunities for leisure walking, but there is a certain constraint on the choice of walking time. Residential neighborhood with medium or large parks is more likely to satisfy residents’ demands for engaging in leisure walking and obtaining high health benefits, while neighborhood with a high density of walking paths tends to limit the satisfaction of demands for space opportunity and health benefit. For residents aged 36 and above, married, or retired, their diverse demands for leisure walking are more likely to be fulfilled, while those with high education, medium-high individual income, general and above health status, or children (<18 years) are less likely to be fulfilled. These finding that can have important implications for the healthy neighborhood by fully considering diverse and multilevel demands of leisure walking behavior.

scholarly journals Size-resolved characterization of organic aerosol in the North China Plain: new insights from high resolution spectral analysis

2021 ◽  
Author(s):  
Weiqi Xu ◽  
Chun Chen ◽  
Yanmei Qiu ◽  
Conghui Xie ◽  
Yunle Chen ◽  
...  
Keyword(s):  
Radiative Forcing ◽  
North China Plain ◽  
North China ◽  
Fine Particles ◽  
Large Fraction ◽  
Organic Aerosol ◽  
Size Distributions ◽  
The North ◽  
The Impact

Organic aerosol (OA), a large fraction of fine particles, has a large impact on climate radiative forcing and human health, and the impact depends strongly on size distributions. Here we...

scholarly journals Performance Analysis of Indentation Punch on High Energy Lithium Pouch Cells and Simulated Model Improvement

Polymers ◽  
2021 ◽  
Vol 13 (12) ◽  
pp. 1971
Author(s):  
Lihua Ye ◽  
Muhammad Muzamal Ashfaq ◽  
Aiping Shi ◽  
Syyed Adnan Raheel Shah ◽  
Yefan Shi
Keyword(s):  
Short Circuit ◽  
Lithium Ion ◽  
Mechanical Deformation ◽  
High Energy ◽  
State Of Charge ◽  
Punch Test ◽  
Short Course ◽  
Model Cell ◽  
The Impact

In this research, the aim relates to the material characterization of high-energy lithium-ion pouch cells. The development of appropriate model cell behavior is intended to simulate two scenarios: the first is mechanical deformation during a crash and the second is an internal short circuit in lithium-ion cells during the actual effect scenarios. The punch test has been used as a benchmark to analyze the effects of different state of charge conditions on high-energy lithium-ion battery cells. This article explores the impact of three separate factors on the outcomes of mechanical punch indentation experiments. The first parameter analyzed was the degree of prediction brought about by experiments on high-energy cells with two different states of charge (greater and lesser), with four different sizes of indentation punch, from the cell’s reaction during the indentation effects on electrolyte. Second, the results of the loading position, middle versus side, are measured at quasi-static speeds. The third parameter was the effect on an electrolyte with a different state of charge. The repeatability of the experiments on punch loading was the last test function analyzed. The test results of a greater than 10% state of charge and less than 10% state of charge were compared to further refine and validate this modeling method. The different loading scenarios analyzed in this study also showed great predictability in the load-displacement reaction and the onset short circuit. A theoretical model of the cell was modified for use in comprehensive mechanical deformation. The overall conclusion found that the loading initiating the cell’s electrical short circuit is not instantaneously instigated and it is subsequently used to process the development of a precise and practical computational model that will reduce the chances of the internal short course during the crash.

scholarly journals Reducing environmental impacts from garments through best practice garment use and care, using the example of a Merino wool sweater

2021 ◽  
Author(s):  
Stephen G. Wiedemann ◽  
Leo Biggs ◽  
Quan V. Nguyen ◽  
Simon J. Clarke ◽  
Kirsi Laitala ◽  
...  
Keyword(s):  
Environmental Impacts ◽  
Energy Demand ◽  
Best Practice ◽  
Western Europe ◽  
Impact Category ◽  
Fashion Industry ◽  
Worst Case ◽  
Multiple Users ◽  
Washing Machines ◽  
The Impact

Abstract Purpose Garment production and use generate substantial environmental impacts, and the care and use are key determinants of cradle-to-grave impacts. The present study investigated the potential to reduce environmental impacts by applying best practices for garment care combined with increased garment use. A wool sweater is used as an example because wool garments have particular attributes that favour reduced environmental impacts in the use phase. Methods A cradle-to-grave life cycle assessment (LCA) was used to compare six plausible best and worst-case practice scenarios for use and care of a wool sweater, relative to current practices. These focussed on options available to consumers to reduce impacts, including reduced washing frequency, use of more efficient washing machines, reduced use of machine clothing dryers, garment reuse by multiple users, and increasing number of garment wears before disposal. A sixth scenario combined all options. Worst practices took the worst plausible alternative for each option investigated. Impacts were reported per wear in Western Europe for climate change, fossil energy demand, water stress and freshwater consumption. Results and discussion Washing less frequently reduced impacts by between 4 and 20%, while using more efficient washing machines at capacity reduced impacts by 1 to 6%, depending on the impact category. Reduced use of machine dryer reduced impacts by < 5% across all indicators. Reusing garments by multiple users increased life span and reduced impacts by 25–28% across all indicators. Increasing wears from 109 to 400 per garment lifespan had the largest effect, decreasing impacts by 60% to 68% depending on the impact category. Best practice care, where garment use was maximised and care practices focussed on the minimum practical requirements, resulted in a ~ 75% reduction in impacts across all indicators. Unsurprisingly, worst-case scenarios increased impacts dramatically: using the garment once before disposal increased GHG impacts over 100 times. Conclusions Wool sweaters have potential for long life and low environmental impact in use, but there are substantial differences between the best, current and worst-case scenarios. Detailed information about garment care and lifespans is needed to understand and reduce environmental impacts. Opportunities exist for consumers to rapidly and dramatically reduce these impacts. The fashion industry can facilitate this through garment design and marketing that promotes and enables long wear life and minimal care.

scholarly journals Reliability Assessment of a Multi-State HVDC System by Combining Markov and Matrix-Based Methods

Energies ◽  
2021 ◽  
Vol 14 (11) ◽  
pp. 3097
Author(s):  
Roberto Benato ◽  
Antonio Chiarelli ◽  
Sebastian Dambone Sessa
Keyword(s):  
Current System ◽  
Estimation Method ◽  
Reliability Estimation ◽  
Voltage Source ◽  
Voltage Source Converter ◽  
Hvdc System ◽  
Critical Elements ◽  
The Matrix ◽  
The Impact

The purpose of this paper is to highlight that, in order to assess the availability of different HVDC cable transmission systems, a more detailed characterization of the cable management significantly affects the availability estimation since the cable represents one of the most critical elements of such systems. The analyzed case study consists of a multi-terminal direct current system based on both line commutated converter and voltage source converter technologies in different configurations, whose availability is computed for different transmitted power capacities. For these analyses, the matrix-based reliability estimation method is exploited together with the Monte Carlo approach and the Markov state space one. This paper shows how reliability analysis requires a deep knowledge of the real installation conditions. The impact of these conditions on the reliability evaluation and the involved benefits are also presented.

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